Tag: apple stock

Apple Leads $383 Billion Tech Rout in Reversal From Group’s 2023 Rally
4Jan By adminNo Comments
Technology

Apple Leads $383 Billion Tech Rout in Reversal From Group’s 2023 Rally

[ad_1] The largest technology stocks that lifted the broader market last year are having a less-rosy start to 2024. The so-called Magnificent Seven, which includes Apple Inc., Amazon.com Inc., Alphabet Inc., Microsoft Corp., Meta Platforms Inc., Tesla Inc. and Nvidia Corp., slipped for the last four trading days, the longest losing streak in a month, according to the Bloomberg Magnificent 7 Price Return Index. Shares of Apple, down 4.6% in the time period, lead the slump that's erased $383 billion in market value. The Nasdaq 100 Index has also fallen in the last four trading days.  “We don't know if last year's rally has fully ended, but it is completely normal to expect markets will pull back after a rally like we saw,” said Steve Sosnick, chief strategist at Interactive Brokers Group....
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Stock Traders Face Pivotal Week as Apple Steals Fed Spotlight
30Oct By adminNo Comments
Technology

Stock Traders Face Pivotal Week as Apple Steals Fed Spotlight

[ad_1] A Federal Reserve meeting typically is the stock-market story of the week. Not so this time, however, as investors are more focused on Apple Inc.'s Thursday earnings report than the central bank's Wednesday interest-rate decision. There's reason for concern about Apple. The world's most valuable company, representing 7.2% of the S&P 500 Index, is facing a slump in smartphone sales, and one of its main suppliers is under investigation in China. A revenue decline is expected for a fourth consecutive quarter, its longest streak in more than two decades.  Other big tech companies have seen their shares drop after posting solid earnings this month, so investors may not be forgiving if Apple shows weakness. The stock is already struggling, on pace for a third-straight losing month,...
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Apple Gets Its Mojo Back After a Shaky Start to 2023
11Mar By adminNo Comments
Technology

Apple Gets Its Mojo Back After a Shaky Start to 2023

[ad_1] After a shaky start to the year, Apple Inc.'s stock has once again reclaimed the mantle of the go-to investment in Big Tech, even winning support from Goldman Sachs Group Inc. after years in which the brokerage refrained from recommending the shares.The Cupertino, California-based giant has risen about 15% in 2023 and is on course for the biggest quarterly gain in more than a year. The stock is outperforming fellow mega-cap technology companies like Microsoft Corp., Alphabet Inc. and Amazon. com Inc. Concerns about an imminent drop in demand for Apple's pricey computers and iPhones, along with supply bottlenecks, have dissipated. Goldman this week turned bullish on the stock for the first time in almost six years, after being mostly on the sidelines as the stock more than quadru...
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Apple’s Slide Topples Last Stock in $2 Trillion Club
4Jan By adminNo Comments
Technology

Apple’s Slide Topples Last Stock in $2 Trillion Club

[ad_1] A steady slide in Apple Inc. shares pushed the iPhone maker’s market value below $2 trillion, the latest casualty in the tech stock rout. A steady slide in Apple Inc. shares pushed the iPhone maker's market value below $2 trillion, the latest casualty in the tech stock rout. Apple fell as much as 4.2% on Tuesday as concerns about iPhone supply in the important holiday quarter mount and investors lose faith in a reprieve from higher interest rates. The slump sent Apple's market value to $1.98 trillion, ending its reign as the last company to sport a $2 trillion valuation after Microsoft Corp. and oil giant Saudi Aramco retreated in 2022. The milestone marks a fall from grace for Apple. The stock spent much of the past year outperforming the S&P 500 Index but has stumble...
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Apple’s $191 Billion Single-Day Surge Sets Stock-Market Record
11Nov By adminNo Comments
Technology

Apple’s $191 Billion Single-Day Surge Sets Stock-Market Record

[ad_1] Apple Inc.’s surge Thursday was one for the record books. Apple Inc.'s surge Thursday was one for the record books. The world's most valuable company added $190.9 billion in market value, the most ever by a US-listed company, as softer-than-expected inflation data buoyed equity markets across the board. The jump eclipsed Amazon.com Inc.'s $190.8 billion gain in February, according to data compiled by Bloomberg.Apple, which after Thursday's 8.8% jump has a market capitalization of $2.34 trillion, now accounts for four out of the top five biggest daily gains. The stock remains down 17% this year. [ad_2] Source link
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Apple Taps Facebook Veteran as Information Chief After Departures
10Nov By adminNo Comments
Technology

Apple Taps Facebook Veteran as Information Chief After Departures

[ad_1] Apple has hired a startup founder and former Facebook executive to run its information systems group after departures in that department. Apple Inc. has hired a startup founder and former Facebook executive to run its information systems group after departures in that department, according to people with knowledge of the matter. Timothy Campos will lead the Information Systems and Technology department, better known as IS&T, which handles the infrastructure behind Apple's online services, customer support and website. Apple refers to the operation as its “nerve center” because it lets employees, suppliers and customers stay connected. The division reports to Chief Financial Officer Luca Maestri. Mary Demby, the current information chief, is retiring after this year, Bl...
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Apple Stock’s Safe-Haven Status at Risk as iPhone Headwinds Mount
9Nov By adminNo Comments
Technology

Apple Stock’s Safe-Haven Status at Risk as iPhone Headwinds Mount

[ad_1] Apple Inc.’s status as a relative haven in this year’s bear market is under threat amid growing concern that iPhone sales are weakening. Apple Inc.'s status as a relative haven in this year's bear market is under threat amid growing concern that iPhone sales are weakening, portending further declines for technology stocks more broadly. Over the weekend, the Cupertino, California-based company said Covid-related lockdowns in China would cause shipments of its newest premium handsets to be lower than previously expected. Bloomberg News also reported that due to weaker demand, Apple expects to produce at least 3 million fewer iPhone 14s this year than first anticipated. The stock rose 0.6% on Tuesday, bringing its year-to-date decline to 21%. The Nasdaq 100 Index is down 32%....
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Microsoft’s Turn Is Coming in Stock Battle of Titans
6Oct By adminNo Comments
Technology

Microsoft’s Turn Is Coming in Stock Battle of Titans

[ad_1] In the stock market contest this year between the two biggest US companies, Microsoft Corp. has been no match for Apple. In the stock market contest this year between the two biggest US companies, Microsoft Corp. has been no match for Apple Inc. With consumer spending under threat from a possible recession, some analysts are betting that performance is about to turn around.Their valuations might be similar, but their business models are quite distinct. Much of Microsoft's almost $200 billion of annual revenue comes from providing essential software and services to businesses. Meanwhile, Apple is more at the mercy of consumer demand and is exposed to markets like Europe and China. “Microsoft has an advantage because it's a sticky business,” said Gene Munster, managing partner of...
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