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13400.0
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2023-09-28 00:00:00 UTC
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Apple asks US Supreme Court to strike down Epic Games order
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AAPL
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https://www.nasdaq.com/articles/apple-asks-us-supreme-court-to-strike-down-epic-games-order
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nan
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nan
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By Stephen Nellis
Sept 28 (Reuters) - Apple AAPL.O on Thursday asked the U.S. Supreme Court to strike down an order requiring changes to its App Store rules stemming from an antitrust case brought by "Fortnite" owner Epic Games.
The iPhone maker has been in a legal battle with Epic since 2020, when the gaming firm alleged that Apple's practice of charging up to 30% commissions on in-app payments on iPhones and other devices violated U.S. antitrust rules. Epic lost on those claims at trial in 2021, but a U.S. District Court judge ruled that Apple's practice of banning software developers from telling customers about alternative payment methods violated a California unfair competition law.
After the ruling, the trial court judge ordered that Apple must change those rules for all developers in its U.S. App Store. The U.S. Ninth Circuit Court of Appeal upheld the orders, though they remain on hold until the Supreme Court either makes a decision or declines to hear the case.
Apple on Thursday argued the lower court orders violate the U.S. Constitution because they overstep the powers of a federal judge. Apple argued that the trial judge relied on a case brought by a single developer - rather than a broader class of developers - to justify a nationwide ban, without proving that the nationwide ban was needed to remedy the harm caused to Epic.
"That approach eviscerates the constitutional limitations on federal courts’ authority and, unless corrected by this Court, would render universal injunctions the default remedy in single-plaintiff cases challenging a generally applicable policy," Apple wrote in its filing with the U.S. Supreme Court.
Epic on Wednesday also appealed lower court rulings in the Apple case. The Supreme Court will likely decide either late this year or early next year whether to hear the case.
(Reporting by Stephen Nellis in San Francisco; Editing by Leslie Adler)
((Stephen.Nellis@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Stephen Nellis Sept 28 (Reuters) - Apple AAPL.O on Thursday asked the U.S. Supreme Court to strike down an order requiring changes to its App Store rules stemming from an antitrust case brought by "Fortnite" owner Epic Games. Epic lost on those claims at trial in 2021, but a U.S. District Court judge ruled that Apple's practice of banning software developers from telling customers about alternative payment methods violated a California unfair competition law. Apple on Thursday argued the lower court orders violate the U.S. Constitution because they overstep the powers of a federal judge.
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By Stephen Nellis Sept 28 (Reuters) - Apple AAPL.O on Thursday asked the U.S. Supreme Court to strike down an order requiring changes to its App Store rules stemming from an antitrust case brought by "Fortnite" owner Epic Games. Epic lost on those claims at trial in 2021, but a U.S. District Court judge ruled that Apple's practice of banning software developers from telling customers about alternative payment methods violated a California unfair competition law. After the ruling, the trial court judge ordered that Apple must change those rules for all developers in its U.S. App Store.
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By Stephen Nellis Sept 28 (Reuters) - Apple AAPL.O on Thursday asked the U.S. Supreme Court to strike down an order requiring changes to its App Store rules stemming from an antitrust case brought by "Fortnite" owner Epic Games. Epic lost on those claims at trial in 2021, but a U.S. District Court judge ruled that Apple's practice of banning software developers from telling customers about alternative payment methods violated a California unfair competition law. "That approach eviscerates the constitutional limitations on federal courts’ authority and, unless corrected by this Court, would render universal injunctions the default remedy in single-plaintiff cases challenging a generally applicable policy," Apple wrote in its filing with the U.S. Supreme Court.
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By Stephen Nellis Sept 28 (Reuters) - Apple AAPL.O on Thursday asked the U.S. Supreme Court to strike down an order requiring changes to its App Store rules stemming from an antitrust case brought by "Fortnite" owner Epic Games. Epic lost on those claims at trial in 2021, but a U.S. District Court judge ruled that Apple's practice of banning software developers from telling customers about alternative payment methods violated a California unfair competition law. After the ruling, the trial court judge ordered that Apple must change those rules for all developers in its U.S. App Store.
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13401.0
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2023-09-28 00:00:00 UTC
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US STOCKS-Futures decline as soaring oil prices deepen inflation woes
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-decline-as-soaring-oil-prices-deepen-inflation-woes
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Futures down: Dow 0.20%, S&P 0.20%, Nasdaq 0.32%
Sept 28 (Reuters) - U.S. stock index futures slipped on Thursday as soaring oil prices cemented the prospects for a prolonged restrictive monetary policy, while investors awaited economic data and Federal Reserve Chair Jerome Powell's remarks during the day.
The scope for interest rates staying higher for longer than anticipated has only solidified with soaring energy prices keeping headline inflation elevated. Deepening such concerns, U.S. oil futures jumped to a more than one-year high on Thursday.
"Another leg up in oil prices has added to the market worries about sticky inflation, thereby stoking fears that interest rates will stay higher for longer," said Russ Mould, investment director at AJ Bell.
"The market is worried that supplies of oil are going to be tight and if prices keep going, it is going to cause a real headache for businesses and consumers."
Riding on the back of higher crude prices, energy .SPNY is set to emerge as the only major S&P 500 sector to notch monthly gains. Meanwhile, rate-sensitive information technology .SPLRCT and real estate .SPLRCT were on track to be the worst hit.
As the 10-year Treasury yield held its 16-year high, megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Amazon.com AMZN.O and Tesla TSLA.O shed between 0.3% and 0.8%.
At 5:23 a.m. ET, Dow e-minis 1YMcv1 were down 68 points, or 0.2%, S&P 500 e-minis EScv1 were down 8.5 points, or 0.2%, and Nasdaq 100 e-minis NQcv1 were down 47.5 points, or 0.32%.
The S&P 500 and the Nasdaq are set for their worst monthly showing so far this year as Treasury yields embarked on a path to multi-year highs on uncertainty around the interest rates trajectory. All the three indexes, including the Dow, are set for their first quarterly decline in 2023.
Traders' bets on the benchmark rate remaining unchanged in November and December stood around 77% and 58%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 31% in June and July.
All eyes will be on the final gross domestic product estimate and weekly jobless claims - due at 8:30 a.m. ET - to gauge the strength of the U.S. economy and the labor market.
Investors will also monitor remarks from Powell at 2 p.m. ET, with voting members Chicago Fed President Austan Goolsbee and Board Governor Lisa Cook also set to take the stage during the day.
With a partial government shutdown just three days away, a procedural vote on a bipartisan short-term spending measure by the Senate on Thursday will be on the watch list.
Among individual movers, Micron Technology MU.O dropped 4.9% after forecasting bigger-than-expected first-quarter loss.
(Reporting by Ankika Biswas; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As the 10-year Treasury yield held its 16-year high, megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Amazon.com AMZN.O and Tesla TSLA.O shed between 0.3% and 0.8%. The scope for interest rates staying higher for longer than anticipated has only solidified with soaring energy prices keeping headline inflation elevated. "Another leg up in oil prices has added to the market worries about sticky inflation, thereby stoking fears that interest rates will stay higher for longer," said Russ Mould, investment director at AJ Bell.
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As the 10-year Treasury yield held its 16-year high, megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Amazon.com AMZN.O and Tesla TSLA.O shed between 0.3% and 0.8%. Futures down: Dow 0.20%, S&P 0.20%, Nasdaq 0.32% Sept 28 (Reuters) - U.S. stock index futures slipped on Thursday as soaring oil prices cemented the prospects for a prolonged restrictive monetary policy, while investors awaited economic data and Federal Reserve Chair Jerome Powell's remarks during the day. The scope for interest rates staying higher for longer than anticipated has only solidified with soaring energy prices keeping headline inflation elevated.
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As the 10-year Treasury yield held its 16-year high, megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Amazon.com AMZN.O and Tesla TSLA.O shed between 0.3% and 0.8%. Futures down: Dow 0.20%, S&P 0.20%, Nasdaq 0.32% Sept 28 (Reuters) - U.S. stock index futures slipped on Thursday as soaring oil prices cemented the prospects for a prolonged restrictive monetary policy, while investors awaited economic data and Federal Reserve Chair Jerome Powell's remarks during the day. "Another leg up in oil prices has added to the market worries about sticky inflation, thereby stoking fears that interest rates will stay higher for longer," said Russ Mould, investment director at AJ Bell.
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As the 10-year Treasury yield held its 16-year high, megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Amazon.com AMZN.O and Tesla TSLA.O shed between 0.3% and 0.8%. Futures down: Dow 0.20%, S&P 0.20%, Nasdaq 0.32% Sept 28 (Reuters) - U.S. stock index futures slipped on Thursday as soaring oil prices cemented the prospects for a prolonged restrictive monetary policy, while investors awaited economic data and Federal Reserve Chair Jerome Powell's remarks during the day. The scope for interest rates staying higher for longer than anticipated has only solidified with soaring energy prices keeping headline inflation elevated.
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13402.0
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2023-09-28 00:00:00 UTC
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UBS Reiterates Apple (AAPL) Neutral Recommendation
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AAPL
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https://www.nasdaq.com/articles/ubs-reiterates-apple-aapl-neutral-recommendation-0
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nan
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nan
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Fintel reports that on September 27, 2023, UBS reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation.
Analyst Price Forecast Suggests 20.11% Upside
As of August 31, 2023, the average one-year price target for Apple is 204.70. The forecasts range from a low of 150.49 to a high of $252.00. The average price target represents an increase of 20.11% from its latest reported closing price of 170.43.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 413,641MM, an increase of 7.74%. The projected annual non-GAAP EPS is 6.36.
For more in-depth coverage of Apple, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 6420 funds or institutions reporting positions in Apple. This is an increase of 26 owner(s) or 0.41% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 7.55%. Total shares owned by institutions increased in the last three months by 0.23% to 9,939,258K shares.
The put/call ratio of AAPL is 0.88, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 915,560K shares representing 5.86% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 465,990K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 465,280K shares, representing an increase of 0.15%. The firm increased its portfolio allocation in AAPL by 8.69% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 352,024K shares representing 2.25% ownership of the company. In it's prior filing, the firm reported owning 347,041K shares, representing an increase of 1.42%. The firm increased its portfolio allocation in AAPL by 8.07% over the last quarter.
Geode Capital Management holds 291,538K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 285,171K shares, representing an increase of 2.18%. The firm increased its portfolio allocation in AAPL by 8.78% over the last quarter.
Price T Rowe Associates holds 226,651K shares representing 1.45% ownership of the company. In it's prior filing, the firm reported owning 234,017K shares, representing a decrease of 3.25%. The firm increased its portfolio allocation in AAPL by 139.25% over the last quarter.
Apple Background Information
(This description is provided by the company.)
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Five companies in the U.S. information technology industry, along with Amazon, Google, Microsoft, and Facebook. Its hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, the AirPods wireless earbuds, the AirPods Max headphones, and the HomePod smart speaker line. Apple's software includes iOS, iPadOS, macOS, watchOS, and tvOS operating systems, the iTunes media player, the Safari web browser, the Shazam music identifier, and the iLife and iWork creativity and productivity suites, as well as professional applications like Final Cut Pro X, Logic Pro, and Xcode. Its online services include the iTunes Store, the iOS App Store, Mac App Store, Apple Arcade, Apple Music, Apple TV+, iMessage, and iCloud. Other services include Apple Store, Genius Bar, AppleCare, Apple Pay, Apple Pay Cash, and Apple Card. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak's Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple I and Apple II, grew quickly.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Fintel reports that on September 27, 2023, UBS reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 7.55%. The put/call ratio of AAPL is 0.88, indicating a bullish outlook.
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Fintel reports that on September 27, 2023, UBS reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 7.55%. The put/call ratio of AAPL is 0.88, indicating a bullish outlook.
|
Fintel reports that on September 27, 2023, UBS reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 7.55%. The put/call ratio of AAPL is 0.88, indicating a bullish outlook.
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Fintel reports that on September 27, 2023, UBS reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 7.55%. The put/call ratio of AAPL is 0.88, indicating a bullish outlook.
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13403.0
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2023-09-27 00:00:00 UTC
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Is ProShares S&P Technology Dividend Aristocrats ETF (TDV) a Strong ETF Right Now?
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AAPL
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https://www.nasdaq.com/articles/is-proshares-sp-technology-dividend-aristocrats-etf-tdv-a-strong-etf-right-now-0
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nan
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nan
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Launched on 11/05/2019, the ProShares S&P Technology Dividend Aristocrats ETF (TDV) is a smart beta exchange traded fund offering broad exposure to the Technology ETFs category of the market.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.
These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
Fund Sponsor & Index
The fund is managed by Proshares. TDV has been able to amass assets over $203.91 million, making it one of the average sized ETFs in the Technology ETFs. TDV seeks to match the performance of the S&P TECHNOLOGY DIVIDEND ARISTOCRATS INDX before fees and expenses.
The S&P Technology Dividend Aristocrats Index targets companies from information technology, internet and direct marketing retail, interactive home entertainment, and interactive media and services segments of the economy.
Cost & Other Expenses
When considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
Operating expenses on an annual basis are 0.45% for TDV, making it one of the cheaper products in the space.
It has a 12-month trailing dividend yield of 1.38%.
Performance and Risk
The ETF return is roughly 12.29% and is up about 21.22% so far this year and in the past one year (as of 09/27/2023), respectively. TDV has traded between $49.99 and $67.88 during this last 52-week period.
The fund has a beta of 1.05 and standard deviation of 20.40% for the trailing three-year period. With about 39 holdings, it has more concentrated exposure than peers.
Alternatives
ProShares S&P Technology Dividend Aristocrats ETF is an excellent option for investors seeking to outperform the Technology ETFs segment of the market. There are other ETFs in the space which investors could consider as well.
IShares Core Dividend Growth ETF (DGRO) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation ETF (VIG) tracks NASDAQ US Dividend Achievers Select Index. IShares Core Dividend Growth ETF has $22.86 billion in assets, Vanguard Dividend Appreciation ETF has $66.32 billion. DGRO has an expense ratio of 0.08% and VIG charges 0.06%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Technology ETFs.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ProShares S&P Technology Dividend Aristocrats ETF (TDV): ETF Research Reports
Apple Inc. (AAPL) : Free Stock Analysis Report
Accenture PLC (ACN) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
Vanguard Dividend Appreciation ETF (VIG): ETF Research Reports
iShares Core Dividend Growth ETF (DGRO): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Click to get this free report ProShares S&P Technology Dividend Aristocrats ETF (TDV): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Accenture PLC (ACN) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report Vanguard Dividend Appreciation ETF (VIG): ETF Research Reports iShares Core Dividend Growth ETF (DGRO): ETF Research Reports To read this article on Zacks.com click here. TDV seeks to match the performance of the S&P TECHNOLOGY DIVIDEND ARISTOCRATS INDX before fees and expenses. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
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Click to get this free report ProShares S&P Technology Dividend Aristocrats ETF (TDV): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Accenture PLC (ACN) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report Vanguard Dividend Appreciation ETF (VIG): ETF Research Reports iShares Core Dividend Growth ETF (DGRO): ETF Research Reports To read this article on Zacks.com click here. IShares Core Dividend Growth ETF (DGRO) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation ETF (VIG) tracks NASDAQ US Dividend Achievers Select Index. IShares Core Dividend Growth ETF has $22.86 billion in assets, Vanguard Dividend Appreciation ETF has $66.32 billion.
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Click to get this free report ProShares S&P Technology Dividend Aristocrats ETF (TDV): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Accenture PLC (ACN) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report Vanguard Dividend Appreciation ETF (VIG): ETF Research Reports iShares Core Dividend Growth ETF (DGRO): ETF Research Reports To read this article on Zacks.com click here. Launched on 11/05/2019, the ProShares S&P Technology Dividend Aristocrats ETF (TDV) is a smart beta exchange traded fund offering broad exposure to the Technology ETFs category of the market. IShares Core Dividend Growth ETF (DGRO) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation ETF (VIG) tracks NASDAQ US Dividend Achievers Select Index.
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Click to get this free report ProShares S&P Technology Dividend Aristocrats ETF (TDV): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Accenture PLC (ACN) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report Vanguard Dividend Appreciation ETF (VIG): ETF Research Reports iShares Core Dividend Growth ETF (DGRO): ETF Research Reports To read this article on Zacks.com click here. Launched on 11/05/2019, the ProShares S&P Technology Dividend Aristocrats ETF (TDV) is a smart beta exchange traded fund offering broad exposure to the Technology ETFs category of the market. If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.
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13404.0
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2023-09-27 00:00:00 UTC
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5 Years, 20 Quarters: The ONLY Stock Buffett Has Consistently Bought (Not Apple!)
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AAPL
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https://www.nasdaq.com/articles/5-years-20-quarters%3A-the-only-stock-buffett-has-consistently-bought-not-apple
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Warren Buffett is truly the greatest investor of our lifetime. There is no one that even comes close to the 3,700,000% returns he generated between 1965 and 2022. That’s a return of almost 20% a year or twice that of the S&P 500 index.
It’s why investors watch his every move. What stocks does he buy? Which ones does he sell? All of these Warren Buffett stocks are scrupulously pored over like some medium reading tea leaves divining what it all means. It’s also why tens of thousands of investors make the pilgrimage to Omaha every year just to hear what pearls of wisdom may spill forth from his lips.
Do as I Say, Not as I Do
Yet part of his success comes from being able to do things unavailable to the average investor. Buffett doesn’t have to report his trades promptly as other money managers do. The Securities & Exchange Commission gives him (and certain other billionaire investors) special privileges to report trades well after the fact to ensure he gets the best price.
Companies also give him special deals for investing in their stock. At the height of the global financial crisis in 2008, Buffett invested $5 billion in Goldman Sachs (NYSE:GS) preferred stock that would pay a 10% annual dividend. It stabilized the company, but Buffett stipulated Goldman insiders not sell their shares before he did. He also got an extra $5 billion worth of stock at $115 per share when Goldman was offering new shares at $123 a share. And when Goldman Sachs bought back the preferred shares from Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B), they paid him a special, one-time dividend of $500 million.
Buffett has also invested in derivatives despite calling them “weapons of financial mass destruction.”
So, while he does things the average retail investor can’t, they can replicate his success in many ways. Let’s look at a few of them.
Go Big or Go Home
Although there are several dozen stocks in Berkshire’s portfolio, it’s clear Buffett likes to make big, selected bets. Giant ones, in fact.
Apple (NASDAQ:AAPL), of course, is his biggest holding. It comprises almost 46% of Berkshire’s total $799 billion portfolio. That’s 5.5 times more than his next biggest stock. Buffett has sure come a long way for someone who once swore off tech stocks because he didn’t understand them.
But he owns more Bank of America (NYSE:BAC) stock than any other company. As of September 2023, he held more than 1.03 billion shares of the banking behemoth. And despite getting shaken out of several other bank stocks earlier this year as it appeared the financial system was wobbling, Buffett didn’t sell a single Bank of America share. In fact, he bought 22.8 million shares more in the first quarter.
Buffett also owns 25% of Occidental Petroleum (NYSE:OXY) and has permission from the Securities & Exchange Commission to buy as much as 50% of the business.
Buffett makes these big bets on big companies because he isn’t a fan of diversification. He told Berkshire shareholders in 1996, “diversification is, as practiced generally, makes very little sense for anyone that knows what they’re doing. Diversification is a protection against ignorance.” He said investing in just three stocks is probably all anyone needs to do.
Get Paid for Owning Stocks
Buffett also loves dividend stocks. Of the 49 stocks in Buffett’s portfolio, 31 pay dividends. And in 2023 alone, Berkshire Hathaway will collect over $5.7 billion in dividend payments. Half of that will come from just three stocks. Three-quarters come from five companies.
Dividends have proved over time they outperform non-dividend-paying stocks. Going all the way back to 1930, dividend stocks in the S&P 500 have never had a losing decade, not through world wars and global pandemics or recessions and depressions.
It’s somewhat ironic then that Buffett will not allow Berkshire Hathaway to pay a dividend. He has rebuffed the idea anytime it’s been broached.
Buy What You Know
Although Buffett has sometimes ventured into the financial markets’ arcana, it’s well known he prefers to buy simple businesses that are easy to understand and generate lots of cash.
It’s why Coca-Cola (NYSE:KO) is the oldest stock in the Berkshire portfolio. Buffett first bought it in 1988 and amassed a holding of 400 million shares. His position represents over 9% of Coke stock (some $23.4 billion) and is worth just under 7% of Berkshire’s total value.
Same with American Express (NYSE:AXP). Even though he hasn’t bought shares of the credit card company since the late 1990s, it has also grown to account for almost 7% of his portfolio. Buffett said, “You can’t create another American Express.”
Notwithstanding the foregoing, there is one stock Buffett loves more than any other. Any chance he can buy this stock, he will scoop it up. He has spent more money on this one company than any of those other stocks he owns.
One Stock to Rule Them All
Every single quarter for the last five years, Warren Buffett bought shares of the one business he knows better than any other: Berkshire Hathaway.
Now, it’s not traditional stock purchases like those of Apple or Bank of America. Rather, it is share repurchases, and Buffett has been buying back Berkshire stock hand over fist. For the last 20 straight quarters, he spent over $71 billion on the stock.
Notably, before 2017, Buffett didn’t buy back a single share of Berkshire Hathaway. That’s because until then, he had an impossible hurdle to get over. The stock could only be repurchased if it fell to 120% of its book value. That just didn’t happen.
In July 2017, though, the board of directors said that if Buffett and executive vice chairman Charlie Munger agreed the stock was trading below its intrinsic value, then Berkshire stock could be bought. They can buy back shares if Berkshire holds at least $30 billion worth of cash, equivalents, and Treasury bills.
While Buffett may love Apple stock so much that it accounts for half of his portfolio, it is crystal clear he loves Berkshire Hathaway stock even more.
On the date of publication, Rich Duprey held a LONG position in KO stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets.
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ChatGPT IPO Could Shock the World, Make This Move Before the Announcement
The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors
The post 5 Years, 20 Quarters: The ONLY Stock Buffett Has Consistently Bought (Not Apple!) appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (NASDAQ:AAPL), of course, is his biggest holding. At the height of the global financial crisis in 2008, Buffett invested $5 billion in Goldman Sachs (NYSE:GS) preferred stock that would pay a 10% annual dividend. Buffett has also invested in derivatives despite calling them “weapons of financial mass destruction.” So, while he does things the average retail investor can’t, they can replicate his success in many ways.
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Apple (NASDAQ:AAPL), of course, is his biggest holding. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Warren Buffett is truly the greatest investor of our lifetime. At the height of the global financial crisis in 2008, Buffett invested $5 billion in Goldman Sachs (NYSE:GS) preferred stock that would pay a 10% annual dividend.
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Apple (NASDAQ:AAPL), of course, is his biggest holding. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Warren Buffett is truly the greatest investor of our lifetime. Get Paid for Owning Stocks Buffett also loves dividend stocks.
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Apple (NASDAQ:AAPL), of course, is his biggest holding. And when Goldman Sachs bought back the preferred shares from Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B), they paid him a special, one-time dividend of $500 million. One Stock to Rule Them All Every single quarter for the last five years, Warren Buffett bought shares of the one business he knows better than any other: Berkshire Hathaway.
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13405.0
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2023-09-27 00:00:00 UTC
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Qualcomm defeats consumers' antitrust claims over chip supply contracts
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AAPL
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https://www.nasdaq.com/articles/qualcomm-defeats-consumers-antitrust-claims-over-chip-supply-contracts-0
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By Mike Scarcella
Sept 27 (Reuters) - Qualcomm QCOM.O on Tuesday defeated a consumer lawsuit in California federal court alleging the chipmaker's contracts with device manufacturers had artificially boosted the cost of mobile phones in violation of U.S. antitrust law.
U.S. District Judge Jacqueline Scott Corley in San Francisco ruled for Qualcomm on the merits of the case in a 15-page order, marking the latest setback for the plaintiffs in a long-running dispute that challenged the company's patent licensing and exclusive-dealing chip agreements with Apple AAPL.O and other manufacturers.
Qualcomm prevailed in 2020 against the U.S. Federal Trade Commission's parallel lawsuit that alleged the same conduct. The San Francisco-based 9th U.S. Circuit Court of Appeals spurned the agency's claims.
The judge said in Tuesday's order that the consumer plaintiffs were trying to amend or revive matters of evidence that stemmed from a prior stage of the case and had since closed.
A ruling favoring the plaintiffs, the judge said, "would open the flood gates to prolonged do-over litigation." Corley wrote that "the court, in its discretion, chooses not to do so."
Joseph Cotchett, an attorney for the consumers, said they disagreed with the court's order and planned to appeal it.
San Diego-based Qualcomm also had no immediate comment on Wednesday.
Qualcomm has denied any wrongdoing and had asked the judge to reject the consumers' claims.
The consumers' case was in Corley's court following a 9th Circuit ruling in 2021 that struck down an order certifying a nationwide consumer class action.
In January, Corley dismissed core antitrust elements of the plaintiffs' claims but let the case move forward.
Lawyers for Qualcomm argued the plaintiffs had no evidence in the record of the case showing that "any alleged exclusive dealing agreement" harmed consumers.
The consumers' lawyers told Corley that "Qualcomm turns a blind eye to the massive evidentiary record" backing the consumers' allegations of exclusive dealing.
Corley said the plaintiffs should not get a new chance and "more years of overly expensive litigation" to pursue a different opinion on Qualcomm's alleged liability than one that had been alleged earlier.
The case is In re: Qualcomm Antitrust Litigation, U.S. District Court, Northern District of California, No. 3:17-md-02773.
For plaintiffs: Kalpana Srinivasan of Susman Godfrey; and Joseph Cotchett of Cotchett, Pitre & McCarthy
For Qualcomm: Robert Van Nest of Keker, Van Nest & Peters; Gary Bornstein of Cravath, Swaine & Moore; and Richard Taffet of Morgan, Lewis & Bockius
Read more:
Qualcomm faces renewed consumer antitrust lawsuit in U.S. court
(Reporting by Mike Scarcella; editing by Leigh Jones)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. District Judge Jacqueline Scott Corley in San Francisco ruled for Qualcomm on the merits of the case in a 15-page order, marking the latest setback for the plaintiffs in a long-running dispute that challenged the company's patent licensing and exclusive-dealing chip agreements with Apple AAPL.O and other manufacturers. By Mike Scarcella Sept 27 (Reuters) - Qualcomm QCOM.O on Tuesday defeated a consumer lawsuit in California federal court alleging the chipmaker's contracts with device manufacturers had artificially boosted the cost of mobile phones in violation of U.S. antitrust law. For plaintiffs: Kalpana Srinivasan of Susman Godfrey; and Joseph Cotchett of Cotchett, Pitre & McCarthy For Qualcomm: Robert Van Nest of Keker, Van Nest & Peters; Gary Bornstein of Cravath, Swaine & Moore; and Richard Taffet of Morgan, Lewis & Bockius Read more: Qualcomm faces renewed consumer antitrust lawsuit in U.S. court (Reporting by Mike Scarcella; editing by Leigh Jones) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. District Judge Jacqueline Scott Corley in San Francisco ruled for Qualcomm on the merits of the case in a 15-page order, marking the latest setback for the plaintiffs in a long-running dispute that challenged the company's patent licensing and exclusive-dealing chip agreements with Apple AAPL.O and other manufacturers. By Mike Scarcella Sept 27 (Reuters) - Qualcomm QCOM.O on Tuesday defeated a consumer lawsuit in California federal court alleging the chipmaker's contracts with device manufacturers had artificially boosted the cost of mobile phones in violation of U.S. antitrust law. Lawyers for Qualcomm argued the plaintiffs had no evidence in the record of the case showing that "any alleged exclusive dealing agreement" harmed consumers.
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U.S. District Judge Jacqueline Scott Corley in San Francisco ruled for Qualcomm on the merits of the case in a 15-page order, marking the latest setback for the plaintiffs in a long-running dispute that challenged the company's patent licensing and exclusive-dealing chip agreements with Apple AAPL.O and other manufacturers. By Mike Scarcella Sept 27 (Reuters) - Qualcomm QCOM.O on Tuesday defeated a consumer lawsuit in California federal court alleging the chipmaker's contracts with device manufacturers had artificially boosted the cost of mobile phones in violation of U.S. antitrust law. For plaintiffs: Kalpana Srinivasan of Susman Godfrey; and Joseph Cotchett of Cotchett, Pitre & McCarthy For Qualcomm: Robert Van Nest of Keker, Van Nest & Peters; Gary Bornstein of Cravath, Swaine & Moore; and Richard Taffet of Morgan, Lewis & Bockius Read more: Qualcomm faces renewed consumer antitrust lawsuit in U.S. court (Reporting by Mike Scarcella; editing by Leigh Jones) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. District Judge Jacqueline Scott Corley in San Francisco ruled for Qualcomm on the merits of the case in a 15-page order, marking the latest setback for the plaintiffs in a long-running dispute that challenged the company's patent licensing and exclusive-dealing chip agreements with Apple AAPL.O and other manufacturers. Circuit Court of Appeals spurned the agency's claims. Joseph Cotchett, an attorney for the consumers, said they disagreed with the court's order and planned to appeal it.
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13406.0
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2023-09-27 00:00:00 UTC
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China lists mobile app stores that comply with new rule, but Apple missing
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AAPL
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https://www.nasdaq.com/articles/china-lists-mobile-app-stores-that-comply-with-new-rule-but-apple-missing
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nan
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By Josh Ye
HONG KONG, Sept 27 (Reuters) - China's cyberspace regulator released on Wednesday names of the first batch of mobile app stores that have completed filing business details to regulators, signalling it has begun to enforce new rules that expand its oversight of mobile apps.
A total of 26 app stores operated by companies including Tencent 0700.HK, Huawei HWT.UL, Ant Group, Baidu 9888.HK, Xiaomi 1810.HK and Samsung 005930.KS have submitted filings to the authority, according to the Cyberspace Administration of China (CAC).
Apple's App Store is not among the app stores on the list. Apple did not immediately respond to Reuters' request for comment.
Beijing has been expanding oversight of smartphone and mobile app usage over the past several years. The country now requires mobile app stores and mobile apps to submit business details to the government.
These rules are causing consternation in the industry that publishing apps in the world's second largest economy will become very difficult and many apps may need to be taken down.
Beijing's push to tighten scrutiny over apps came into focus when in June last year the CAC issued a new rule requiring app stores to submit business details and said it would hold app stores accountable if apps contain illegal content.
In August this year, the Ministry of Industry and Information Technology published another requiring mobile apps to complete filing by the end of March.
Earlier this month, Reuters reported that app stores operated by companies including Tencent and Huawei have started demanding apps on their app stores comply with the new rules.
Apple has not disclosed how its app store in China will comply with Beijing’s new rules. Experts said Apple's compliance could lead to tens of thousands of apps being removed from Apple's App Store in China.
(Reporting by Josh Ye; Editing by Jacqueline Wong and Muralikumar Anantharaman)
((Josh.Ye@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Josh Ye HONG KONG, Sept 27 (Reuters) - China's cyberspace regulator released on Wednesday names of the first batch of mobile app stores that have completed filing business details to regulators, signalling it has begun to enforce new rules that expand its oversight of mobile apps. A total of 26 app stores operated by companies including Tencent 0700.HK, Huawei HWT.UL, Ant Group, Baidu 9888.HK, Xiaomi 1810.HK and Samsung 005930.KS have submitted filings to the authority, according to the Cyberspace Administration of China (CAC). In August this year, the Ministry of Industry and Information Technology published another requiring mobile apps to complete filing by the end of March.
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A total of 26 app stores operated by companies including Tencent 0700.HK, Huawei HWT.UL, Ant Group, Baidu 9888.HK, Xiaomi 1810.HK and Samsung 005930.KS have submitted filings to the authority, according to the Cyberspace Administration of China (CAC). The country now requires mobile app stores and mobile apps to submit business details to the government. Earlier this month, Reuters reported that app stores operated by companies including Tencent and Huawei have started demanding apps on their app stores comply with the new rules.
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By Josh Ye HONG KONG, Sept 27 (Reuters) - China's cyberspace regulator released on Wednesday names of the first batch of mobile app stores that have completed filing business details to regulators, signalling it has begun to enforce new rules that expand its oversight of mobile apps. Beijing's push to tighten scrutiny over apps came into focus when in June last year the CAC issued a new rule requiring app stores to submit business details and said it would hold app stores accountable if apps contain illegal content. Earlier this month, Reuters reported that app stores operated by companies including Tencent and Huawei have started demanding apps on their app stores comply with the new rules.
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Apple's App Store is not among the app stores on the list. The country now requires mobile app stores and mobile apps to submit business details to the government. Apple has not disclosed how its app store in China will comply with Beijing’s new rules.
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13407.0
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2023-09-27 00:00:00 UTC
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Don’t Miss the Boom: 3 Tech Funds Set to Explode Higher
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AAPL
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https://www.nasdaq.com/articles/dont-miss-the-boom%3A-3-tech-funds-set-to-explode-higher
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Despite continued volatility and uncertainty, technology continues to drive the stock market higher. Technology stocks lead the way in terms of growth among equities, and they have gotten a big catalyst this year with the explosion of artificial intelligence (AI). However, separating winners from losers among technology stocks can be difficult. There are many different tech companies to choose from and multiple sub-sectors of technology, including wireless internet providers, cybersecurity firms, microchip and semiconductor designers and personal computer manufacturers — to name only a few categories. Given the diversity and choice available to investors, the best way to gain broad exposure to the tech sector while mitigating personal risk is through an exchange-traded fund (ETF). These are funds that track a particular index, often the Nasdaq, and let investors benefit from the growth of technology stocks without risking capital on one particular stock. Don’t miss the boom: Here are three tech funds set to explode higher.
Global X Artificial Intelligence & Technology ETF (AIQ)
Source: TStudious / Shutterstock
AI continues to be the hottest corner of the technology sector, and the Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ) is a great way to play the boom. This fund offers broad exposure to companies heavily focused on AI. Believe it or not, this ETF has been around since 2018. It’s not a fund that sprung up earlier this year as excitement around AI technologies started to build.
Top holdings in the AIQ ETF include Alphabet (NASDAQ:GOOG/NASDAQ:GOOGL), Meta Platforms (NASDAQ:META) and IBM (NYSE:IBM). Investors also get exposure to China’s tech sector with this AI ETF as its holdings include stocks of companies such as Alibaba (NYSE:BABA) and Baidu (NASDAQ:BIDU). Year to date, AIQ is up 32%, which is on par with the Nasdaq index. Over five years, the fund has gained 68%. The expense ratio is high at 0.68%. Still, broad exposure to AI might be worth it.
Invesco QQQ Trust Series 1 (QQQ)
Source: Shutterstock
The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) is arguably the best-known and most popular technology fund in America. The triple Qs, as the fund is known, is the second most traded exchange-traded fund (ETF) in the U.S., based on average daily trading volumes, and it is regularly voted the best-performing large-cap growth fund. Currently, the Q has $200 billion in assets under management. Created in 1999, the Invesco QQQ tracks the performance of the Nasdaq 100 index.
The popularity of the QQQ fund comes from the fact that it holds many top tech names, including Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA). However, the Q also includes other Nasdaq-listed companies that are not technology concerns, including PepsiCo (NASDAQ:PEP) and Costco Wholesale (NASDAQ:COST). The fund charges a management fee of 0.20%, which isn’t the cheapest around. But the performance is strong, with the QQQ up 34% year-to-date and up 90% over five years.
Vanguard Information Technology ETF (VGT)
Source: Shutterstock
Another great way to gain broad exposure to the U.S. technology sector is with the Vanguard Information Technology ETF (NYSEARCA:VGT). This fund has characteristics similar to the QQQ ETF in that it tracks leading American technology companies. While the fund doesn’t track the Nasdaq per se, its top holdings are nearly identical to the triple Q, with sizable positions in Apple, Microsoft and so on.
The advantage of the VGT ETF is its rock bottom fee of 0.10%, which is about as low as you’ll find in a technology ETF or any ETF for that matter. Vanguard is known for having the lowest fees among mutual funds and ETFs, which applies to its main technology fund. The performance of the Information Technology ETF is quite strong and mirrors the broader tech sector. This year, VGT is up 30%. Over the past five years, it has increased 102%. The fund also pays a quarterly dividend of 68 cents per share.
On the date of publication, Joel Baglole held long positions in AAPL, MSFT, GOOGL and NVDA. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
More From InvestorPlace
ChatGPT IPO Could Shock the World, Make This Move Before the Announcement
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The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors
The post Don’t Miss the Boom: 3 Tech Funds Set to Explode Higher appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The popularity of the QQQ fund comes from the fact that it holds many top tech names, including Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA). On the date of publication, Joel Baglole held long positions in AAPL, MSFT, GOOGL and NVDA. There are many different tech companies to choose from and multiple sub-sectors of technology, including wireless internet providers, cybersecurity firms, microchip and semiconductor designers and personal computer manufacturers — to name only a few categories.
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The popularity of the QQQ fund comes from the fact that it holds many top tech names, including Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA). On the date of publication, Joel Baglole held long positions in AAPL, MSFT, GOOGL and NVDA. Top holdings in the AIQ ETF include Alphabet (NASDAQ:GOOG/NASDAQ:GOOGL), Meta Platforms (NASDAQ:META) and IBM (NYSE:IBM).
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The popularity of the QQQ fund comes from the fact that it holds many top tech names, including Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA). On the date of publication, Joel Baglole held long positions in AAPL, MSFT, GOOGL and NVDA. Global X Artificial Intelligence & Technology ETF (AIQ) Source: TStudious / Shutterstock AI continues to be the hottest corner of the technology sector, and the Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ) is a great way to play the boom.
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The popularity of the QQQ fund comes from the fact that it holds many top tech names, including Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Nvidia (NASDAQ:NVDA). On the date of publication, Joel Baglole held long positions in AAPL, MSFT, GOOGL and NVDA. Believe it or not, this ETF has been around since 2018.
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13408.0
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2023-09-27 00:00:00 UTC
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Epic Games asks US Supreme Court to review Apple antitrust case
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AAPL
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https://www.nasdaq.com/articles/epic-games-asks-us-supreme-court-to-review-apple-antitrust-case
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By Stephen Nellis
Sept 27 (Reuters) - Epic Games on Wednesday asked the U.S. Supreme Court to review the antitrust case it brought against Apple AAPL.O, hoping to reverse lower court rulings that have found the iPhone maker has not violated antitrust laws.
"Fortnite" owner Epic has waged a multi-year legal battle against Apple alleging its App Store, where developers pay commissions of up to 30% on in-app purchases, violates U.S. antitrust laws. In 2021, a trial court ruled Apple's App Store does not break antitrust laws.
But the lower court said a provision that prevents developers from providing users with a link to other third-party payment methods violated a California unfair competition law. Apple was ordered to change that practice, but those orders have been on hold while the appeal plays out.
Earlier this year, the U.S. Ninth Circuit Court of Appeals upheld the lower court's ruling, and the U.S. Supreme Court has already refused an emergency bid by Epic to enact the lower court ruling about changing App Store rules, saying they must remain on hold.
Epic's filing on Wednesday asked the U.S. Supreme Court to clarify several complex areas of antitrust law.
The trial court found Apple's practices do in fact reduce competition in the software market, but found in favor of Apple's arguments that those anticompetitive effects are offset by its efforts to keep iPhones secure.
Epic has argued the trial court performed that legal balancing test incorrectly.
Apple did not immediately respond to request for comment.
(Reporting by Stephen Nellis in San Francisco; Editing by Daniel Wallis)
((Stephen.Nellis@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Stephen Nellis Sept 27 (Reuters) - Epic Games on Wednesday asked the U.S. Supreme Court to review the antitrust case it brought against Apple AAPL.O, hoping to reverse lower court rulings that have found the iPhone maker has not violated antitrust laws. "Fortnite" owner Epic has waged a multi-year legal battle against Apple alleging its App Store, where developers pay commissions of up to 30% on in-app purchases, violates U.S. antitrust laws. But the lower court said a provision that prevents developers from providing users with a link to other third-party payment methods violated a California unfair competition law.
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By Stephen Nellis Sept 27 (Reuters) - Epic Games on Wednesday asked the U.S. Supreme Court to review the antitrust case it brought against Apple AAPL.O, hoping to reverse lower court rulings that have found the iPhone maker has not violated antitrust laws. In 2021, a trial court ruled Apple's App Store does not break antitrust laws. Earlier this year, the U.S. Ninth Circuit Court of Appeals upheld the lower court's ruling, and the U.S. Supreme Court has already refused an emergency bid by Epic to enact the lower court ruling about changing App Store rules, saying they must remain on hold.
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By Stephen Nellis Sept 27 (Reuters) - Epic Games on Wednesday asked the U.S. Supreme Court to review the antitrust case it brought against Apple AAPL.O, hoping to reverse lower court rulings that have found the iPhone maker has not violated antitrust laws. Earlier this year, the U.S. Ninth Circuit Court of Appeals upheld the lower court's ruling, and the U.S. Supreme Court has already refused an emergency bid by Epic to enact the lower court ruling about changing App Store rules, saying they must remain on hold. The trial court found Apple's practices do in fact reduce competition in the software market, but found in favor of Apple's arguments that those anticompetitive effects are offset by its efforts to keep iPhones secure.
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By Stephen Nellis Sept 27 (Reuters) - Epic Games on Wednesday asked the U.S. Supreme Court to review the antitrust case it brought against Apple AAPL.O, hoping to reverse lower court rulings that have found the iPhone maker has not violated antitrust laws. In 2021, a trial court ruled Apple's App Store does not break antitrust laws. Earlier this year, the U.S. Ninth Circuit Court of Appeals upheld the lower court's ruling, and the U.S. Supreme Court has already refused an emergency bid by Epic to enact the lower court ruling about changing App Store rules, saying they must remain on hold.
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13409.0
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2023-09-27 00:00:00 UTC
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Pegatron India fire traced to workers' failure to turn off switch -sources
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AAPL
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https://www.nasdaq.com/articles/pegatron-india-fire-traced-to-workers-failure-to-turn-off-switch-sources
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By Praveen Paramasivam
CHENGALPATTU, India, Sept 27 (Reuters) - A factory fire at iPhone assembler Pegatron India was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, two sources briefed on the matter told Reuters.
The lapse at key Apple AAPL.O supplier Pegatron's 4938.TW only factory in India, located in the southern state of Tamil Nadu, has cost three straight days of lost production, with no clarity on when operations might resume.
After Reuters sent queries to Pegatron for this report, the firm told the Taiwan stock exchange on Wednesday that "a small switchboard experienced an accident" at the factory on Sunday, but did not provide further details.
In a statement on Monday, Pegatron said there were no injuries in the fire, which it described as a "spark incident" whose cause would be determined, while adding that it did not have significant impact on finances and operations.
Apple did not respond to a request for comment and has not yet commented on the matter. Its representatives have been in touch with Pegatron after the incident, Reuters has reported.
A senior Tamil Nadu government source, and another industry source, briefed on the matter, detailed how Sunday's events unfolded. Both spoke on condition of anonymity as the matter is sensitive.
After putting together about 70 iPhone parts, workers at the Pegatron plant charge the device batteries up to a level of 50% at a charging rack, before installing software, the state government source said.
However, a switch on one such rack was not turned off after the end of Saturday's night shifts, the source added, causing overheating and eventually a spark that set alight a foam sheet used to protect new mobile phones against scratches.
The next day was a holiday, with just a few maintenance workers on duty, but the "fire could have been nipped in the bud had there been more workers in the facility," the government source said.
One smartphone industry source with direct knowledge said the charging racks at the Pegatron plant are typically switched off after three Saturday shifts end early on Sundays.
Firemen scrambled to douse the flames in response to a call received at about 8:50 p.m. on Sunday, said fire official V. Veeraraghavan. Domestic TV images showed black smoke billowing from the facility.
The fire damaged some machines, said the government source and another source with direct knowledge, who spoke on condition of anonymity. The government official estimated six machines were damaged, but did not say what type they were.
About 8,000 people work on the assembly line at the Pegatron facility, which sprawls across 39,000 sq. m. (420,000 sq ft) in the city of Chengalpattu. It does not make the iPhone 15 but assembles older variants.
The plant turns out 5 million phones a year, according to a board placed outside it , which accounts for 10% of Apple's India production, with Foxconn facilities in south India making up a majority.
FACTBOX - Recent disruptions at Apple facilities in India https://reut.rs/46rEcDg
(Reporting by Praveen Paramasivam; Additional reporting by Munsif Vengattil in Bengaluru, Faith Hung and Ben Blanchard in Taipei; Editing by Aditya Kalra and Clarence Fernandez)
((aditya.kalra@thomsonreuters.com; @adityakalra;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The lapse at key Apple AAPL.O supplier Pegatron's 4938.TW only factory in India, located in the southern state of Tamil Nadu, has cost three straight days of lost production, with no clarity on when operations might resume. After Reuters sent queries to Pegatron for this report, the firm told the Taiwan stock exchange on Wednesday that "a small switchboard experienced an accident" at the factory on Sunday, but did not provide further details. However, a switch on one such rack was not turned off after the end of Saturday's night shifts, the source added, causing overheating and eventually a spark that set alight a foam sheet used to protect new mobile phones against scratches.
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The lapse at key Apple AAPL.O supplier Pegatron's 4938.TW only factory in India, located in the southern state of Tamil Nadu, has cost three straight days of lost production, with no clarity on when operations might resume. By Praveen Paramasivam CHENGALPATTU, India, Sept 27 (Reuters) - A factory fire at iPhone assembler Pegatron India was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, two sources briefed on the matter told Reuters. A senior Tamil Nadu government source, and another industry source, briefed on the matter, detailed how Sunday's events unfolded.
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The lapse at key Apple AAPL.O supplier Pegatron's 4938.TW only factory in India, located in the southern state of Tamil Nadu, has cost three straight days of lost production, with no clarity on when operations might resume. By Praveen Paramasivam CHENGALPATTU, India, Sept 27 (Reuters) - A factory fire at iPhone assembler Pegatron India was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, two sources briefed on the matter told Reuters. After putting together about 70 iPhone parts, workers at the Pegatron plant charge the device batteries up to a level of 50% at a charging rack, before installing software, the state government source said.
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The lapse at key Apple AAPL.O supplier Pegatron's 4938.TW only factory in India, located in the southern state of Tamil Nadu, has cost three straight days of lost production, with no clarity on when operations might resume. By Praveen Paramasivam CHENGALPATTU, India, Sept 27 (Reuters) - A factory fire at iPhone assembler Pegatron India was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, two sources briefed on the matter told Reuters. One smartphone industry source with direct knowledge said the charging racks at the Pegatron plant are typically switched off after three Saturday shifts end early on Sundays.
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13410.0
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2023-09-27 00:00:00 UTC
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After Hours Most Active for Sep 27, 2023 : CRH, INTC, TLT, PTON, TRTN, GRAB, ET, AAPL, MU, AVTR, SPR, KO
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https://www.nasdaq.com/articles/after-hours-most-active-for-sep-27-2023-%3A-crh-intc-tlt-pton-trtn-grab-et-aapl-mu-avtr-spr
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The NASDAQ 100 After Hours Indicator is up 10.1 to 14,590.26. The total After hours volume is currently 99,192,122 shares traded.
The following are the most active stocks for the after hours session:
CRH PLC (CRH) is unchanged at $56.40, with 7,340,131 shares traded. As reported by Zacks, the current mean recommendation for CRH is in the "strong buy range".
Intel Corporation (INTC) is +0.08 at $34.69, with 6,657,949 shares traded. INTC's current last sale is 99.11% of the target price of $35.
iShares 20+ Year Treasury Bond ETF (TLT) is unchanged at $88.41, with 5,615,484 shares traded., following a 52-week high recorded in today's regular session.
Peloton Interactive, Inc. (PTON) is +0.83 at $5.48, with 5,109,772 shares traded. PTON's current last sale is 57.68% of the target price of $9.5.
Triton International Limited (TRTN) is +1.95 at $81.50, with 4,745,627 shares traded. TRTN's current last sale is 102.52% of the target price of $79.5.
Grab Holdings Limited (GRAB) is -0.01 at $3.38, with 2,796,625 shares traded. As reported by Zacks, the current mean recommendation for GRAB is in the "buy range".
Energy Transfer L.P. (ET) is unchanged at $13.95, with 2,739,440 shares traded. ET's current last sale is 82.06% of the target price of $17.
Apple Inc. (AAPL) is +0.08 at $170.51, with 2,598,100 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2024. The consensus EPS forecast is $1.56. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Micron Technology, Inc. (MU) is -2.1 at $66.11, with 2,386,913 shares traded. Smarter Analyst Reports: Micron to Unveil Memory Design Center in Atlanta
Avantor, Inc. (AVTR) is unchanged at $20.77, with 1,462,165 shares traded. As reported by Zacks, the current mean recommendation for AVTR is in the "buy range".
Spirit Aerosystems Holdings, Inc. (SPR) is unchanged at $15.81, with 1,411,775 shares traded. SPR's current last sale is 54.52% of the target price of $29.
Coca-Cola Company (The) (KO) is unchanged at $55.95, with 1,229,291 shares traded. As reported by Zacks, the current mean recommendation for KO is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc. (AAPL) is +0.08 at $170.51, with 2,598,100 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". iShares 20+ Year Treasury Bond ETF (TLT) is unchanged at $88.41, with 5,615,484 shares traded., following a 52-week high recorded in today's regular session.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is +0.08 at $170.51, with 2,598,100 shares traded. Grab Holdings Limited (GRAB) is -0.01 at $3.38, with 2,796,625 shares traded.
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Apple Inc. (AAPL) is +0.08 at $170.51, with 2,598,100 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The total After hours volume is currently 99,192,122 shares traded.
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Apple Inc. (AAPL) is +0.08 at $170.51, with 2,598,100 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The NASDAQ 100 After Hours Indicator is up 10.1 to 14,590.26.
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13411.0
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2023-09-27 00:00:00 UTC
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Why Meta Platforms Stock Dropped and Then Recovered Today
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AAPL
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https://www.nasdaq.com/articles/why-meta-platforms-stock-dropped-and-then-recovered-today
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nan
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nan
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What happened
It was a big day for Meta Platforms (NASDAQ: META) as the tech giant unveiled its new Meta Quest 3, launched new smart glasses with Ray-Ban, and announced updates to its AI products.
Investors seemed to initially balk at the news, sending the stock down by as much as 4.1% shortly after CEO Mark Zuckerberg gave his keynote address, but it rebounded nearly as quickly as some investors sensed a buying opportunity in the sell-off.
After whipsawing in the afternoon, Meta stock closed today's session down 0.4%.
Image source: Getty Images.
So what
Today's presentation has been highly anticipated as the new technologies that Meta has been investing in for years, like its mixed-reality headsets and artificial intelligence, seem finally ready for primetime.
Rival Apple introduced its own mixed-reality headset, the Vision Pro, which it's calling a spatial computing device, at its own conference, and Zuckerberg took the opportunity to differentiate the Quest 3, calling it the first "mainstream" mixed-reality device and touting its affordability. The Meta Quest 3 starts at $499.99 compared to the Vision Pro at $3,500.
A decade after Google Glass famously flopped, Meta is betting that consumers are now ready for smart glasses, debuting several new models that it's designed together with Ray-Ban.
Zuckerberg also explained his own vision for AI, seeing not one dominant chatbot, like ChatGPT, but a number of specialized AI tools, depending on what the user needs them for. The company introduced Meta AI as a general-purpose assistant and sees individuals or businesses using its tools, like Llama, to build their own AIs.
Now what
The sell-off in the stock came in two waves: one shortly after the event began and Zuckerberg kicked off his keynote address, and one when he began to introduce the company's new AI products.
That movement may have been more of a "sell-the-news" action, and it makes sense that the stock recovered as Meta showed a strong hand at the event with its new flagship mixed-reality (MR) device, the smart glasses, and several new AI features.
The company will share more details on Quest and its Llama foundational model on the second day of the event tomorrow.
The time could finally be right for Meta to capitalize on some of these new markets, and the stock looks affordable even without an impact from products like the Quest 3.
If Meta is able to break through with its new devices and AI features, the stock could still move significantly higher.
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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Jeremy Bowman has positions in Meta Platforms. The Motley Fool has positions in and recommends Apple and Meta Platforms. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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So what Today's presentation has been highly anticipated as the new technologies that Meta has been investing in for years, like its mixed-reality headsets and artificial intelligence, seem finally ready for primetime. That movement may have been more of a "sell-the-news" action, and it makes sense that the stock recovered as Meta showed a strong hand at the event with its new flagship mixed-reality (MR) device, the smart glasses, and several new AI features. See the 10 stocks *Stock Advisor returns as of September 25, 2023 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors.
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What happened It was a big day for Meta Platforms (NASDAQ: META) as the tech giant unveiled its new Meta Quest 3, launched new smart glasses with Ray-Ban, and announced updates to its AI products. Investors seemed to initially balk at the news, sending the stock down by as much as 4.1% shortly after CEO Mark Zuckerberg gave his keynote address, but it rebounded nearly as quickly as some investors sensed a buying opportunity in the sell-off. See the 10 stocks *Stock Advisor returns as of September 25, 2023 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors.
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What happened It was a big day for Meta Platforms (NASDAQ: META) as the tech giant unveiled its new Meta Quest 3, launched new smart glasses with Ray-Ban, and announced updates to its AI products. That movement may have been more of a "sell-the-news" action, and it makes sense that the stock recovered as Meta showed a strong hand at the event with its new flagship mixed-reality (MR) device, the smart glasses, and several new AI features. See the 10 stocks *Stock Advisor returns as of September 25, 2023 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors.
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Rival Apple introduced its own mixed-reality headset, the Vision Pro, which it's calling a spatial computing device, at its own conference, and Zuckerberg took the opportunity to differentiate the Quest 3, calling it the first "mainstream" mixed-reality device and touting its affordability. That movement may have been more of a "sell-the-news" action, and it makes sense that the stock recovered as Meta showed a strong hand at the event with its new flagship mixed-reality (MR) device, the smart glasses, and several new AI features. The Motley Fool has positions in and recommends Apple and Meta Platforms.
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13412.0
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2023-09-27 00:00:00 UTC
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Eye Equal-Weight ETF EQL to End 2023
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AAPL
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https://www.nasdaq.com/articles/eye-equal-weight-etf-eql-to-end-2023
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nan
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nan
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The final quarter of the 2023 calendar year is rapidly approaching, and with it comes an opportunity for investors to revisit their portfolios. The year has offered a series of challenges and sources of uncertainty, with concentration risk and inflation key. The former challenge there may prove especially urgent for investors to consider with the S&P 500 so top-heavy. Those and other factors may invite investors to take a closer look at a strategy like the equal weight ETF EQL.
Why worry about concentration risk? Just a few stocks have helped drive the vast majority of the S&P 500’s growth this year. Entering a new year means that markets may see a shift in the factors that propped those names up. With most of them in tech, for example, bad news in the tech industry for big names like Apple (AAPL) would threaten many portfolios. By investing in an equal-weight ETF, investors can instead get some helpful diversification.
See more: “VettaFi Voices On: The Biggest Threat to the Global Economy”
EQL, the Alps Equal Sector Weight ETF, does more than just equal weight its stocks, however. It also equal weights whole sectors, providing a straightforward tool for investors who don’t want to lean into one sector too much. Investing in SPDR funds, it equal weights sectors ranging from real estate to utilities, from energy to healthcare.
Equal Weight ETF EQL's Performance
The strategy doesn’t just offer a strong investment case as a diversification tool, either. It has also performed well on its own terms. The equal-weight ETF has returned 14.6% over the last year, outperforming both its ETF Database Category and Factset Segment averages. EQL has also returned 6.5% YTD, which beats its averages on a YTD basis, too, and has returned 5.3% over the last six months.
EQL tracks the NYSE Select Sector Equal Weight Index for a 26 basis point fee. For investors worried about concentration risk rising in a new year, it may be worth eyeing EQL now.
For more news, information, and analysis, visit the ETF Building Blocks Channel.
Read more on ETFTrends.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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With most of them in tech, for example, bad news in the tech industry for big names like Apple (AAPL) would threaten many portfolios. Investing in SPDR funds, it equal weights sectors ranging from real estate to utilities, from energy to healthcare. Equal Weight ETF EQL's Performance The strategy doesn’t just offer a strong investment case as a diversification tool, either.
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With most of them in tech, for example, bad news in the tech industry for big names like Apple (AAPL) would threaten many portfolios. Those and other factors may invite investors to take a closer look at a strategy like the equal weight ETF EQL. See more: “VettaFi Voices On: The Biggest Threat to the Global Economy” EQL, the Alps Equal Sector Weight ETF, does more than just equal weight its stocks, however.
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With most of them in tech, for example, bad news in the tech industry for big names like Apple (AAPL) would threaten many portfolios. Those and other factors may invite investors to take a closer look at a strategy like the equal weight ETF EQL. See more: “VettaFi Voices On: The Biggest Threat to the Global Economy” EQL, the Alps Equal Sector Weight ETF, does more than just equal weight its stocks, however.
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With most of them in tech, for example, bad news in the tech industry for big names like Apple (AAPL) would threaten many portfolios. The year has offered a series of challenges and sources of uncertainty, with concentration risk and inflation key. Those and other factors may invite investors to take a closer look at a strategy like the equal weight ETF EQL.
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13413.0
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2023-09-27 00:00:00 UTC
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Apple (AAPL) Stock Sinks As Market Gains: What You Should Know
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AAPL
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https://www.nasdaq.com/articles/apple-aapl-stock-sinks-as-market-gains%3A-what-you-should-know-6
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nan
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nan
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Apple (AAPL) closed at $170.43 in the latest trading session, marking a -0.89% move from the prior day. This change lagged the S&P 500's daily gain of 0.02%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.22%.
Heading into today, shares of the maker of iPhones, iPads and other products had lost 6.6% over the past month, lagging the Computer and Technology sector's loss of 3.18% and the S&P 500's loss of 2.86% in that time.
Wall Street will be looking for positivity from Apple as it approaches its next earnings report date. On that day, Apple is projected to report earnings of $1.39 per share, which would represent year-over-year growth of 7.75%. Meanwhile, our latest consensus estimate is calling for revenue of $88.87 billion, down 1.42% from the prior-year quarter.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.05 per share and revenue of $382.66 billion. These results would represent year-over-year changes of -0.98% and -2.96%, respectively.
Investors might also notice recent changes to analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.04% higher within the past month. Apple is currently a Zacks Rank #3 (Hold).
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 28.44. Its industry sports an average Forward P/E of 11.22, so we one might conclude that Apple is trading at a premium comparatively.
Investors should also note that AAPL has a PEG ratio of 2.51 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AAPL's industry had an average PEG ratio of 2.51 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) closed at $170.43 in the latest trading session, marking a -0.89% move from the prior day. AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.05 per share and revenue of $382.66 billion. Investors should also note that AAPL has a PEG ratio of 2.51 right now.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple (AAPL) closed at $170.43 in the latest trading session, marking a -0.89% move from the prior day. AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.05 per share and revenue of $382.66 billion.
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AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.05 per share and revenue of $382.66 billion. Apple (AAPL) closed at $170.43 in the latest trading session, marking a -0.89% move from the prior day. Investors should also note that AAPL has a PEG ratio of 2.51 right now.
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Apple (AAPL) closed at $170.43 in the latest trading session, marking a -0.89% move from the prior day. AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.05 per share and revenue of $382.66 billion. Investors should also note that AAPL has a PEG ratio of 2.51 right now.
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13414.0
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2023-09-27 00:00:00 UTC
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ANALYSIS-Harsh reality of 'higher-for-longer' rates looms over US stocks
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AAPL
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https://www.nasdaq.com/articles/analysis-harsh-reality-of-higher-for-longer-rates-looms-over-us-stocks
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nan
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nan
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By Lewis Krauskopf, David Randall and Carolina Mandl
NEW YORK, Sept 27 (Reuters) - As the Federal Reserve’s hawkish stance boosts Treasury yields and slams stocks, some investors are preparing for more pain ahead.
For most of the year, equity investors brushed off a rise in Treasury yields as a by-product of better-than-expected economic growth, despite worries that yields could eventually weigh on stocks if they rose too high.
Those concerns may be taking on fresh urgency after the Fed last week forecast it would leave rates elevated for longer than many investors were expecting.
Following a 1.5% tumble on Tuesday, the S&P 500 .SPX is now down more than 7% from its July highs, stung by sharp declines in shares of some of this year's biggest winners -- including Apple AAPL.O, Amazon.com AMZN.O and Nvidia NVDA.O. At the same time, yields on the U.S. benchmark 10-year Treasury US10YT=RRstand near a 16-year peak at 4.55%.
With policymakers projecting rates will remain around current levels until the end of 2024, some investors say more volatility could be in store. Higher yields on Treasuries - which are sensitive to interest rate expectations and seen as risk free because they are backed by the U.S. government - offer investment competition to stocks while raising the cost of borrowing for corporations and households.
The market “is recalibrating what is the right valuation for equities in a 5% interest rate world,” said Jake Schurmeier, a portfolio manager at Harbor Capital Advisors. "Investors are asking, ‘Why do I need to (take) equity risk when I get more returns than that just by holding a Treasury bill?’"
If history is any indication, higher rates are a less favorable environment for equity investors. An analysis by AQR Capital Management going back to 1990 showed U.S. equities returned an average of 5.4% over cash when rates were above their median level - as they are now - compared with a return of 11.5% when interest rates were below their median.
"Stock markets are just plain expensive,” said Dan Villalon, principal and global co-head of portfolio solutions at AQR Capital Management, who believes rates will be higher over the next five to 10 years than in the previous decade, impacting returns.
AQR's analysis showed that trend-following hedge funds tend to outperform when rates are elevated, as they hold large cash positions that benefit from higher rates.
The equity risk premium, which compares the attractiveness of stocks over risk-free government bonds, has been shrinking for most of 2023 and was last around its lowest levels in about 14 years, according to Keith Lerner, co-chief investment officer at Truist Advisory Services.
The current ERP level has historically translated to just a 1.3% average 12-month excess return of the S&P 500 over the 10-year Treasury, according to Lerner.
The 10-year Treasury yield up to 4.5% "changes the narrative for stocks," said Robert Pavlik, senior portfolio manager at Dakota Wealth Management, who is holding a higher-than-normal cash position.
"Investors are going to be even more worried that we could enter into a recession as the cost of borrowing is increasing and corporate margins will be squeezed," he said.
Analysts at BofA Global Research argue that equities - specifically, the tech-heavy Nasdaq 100, which has soared 33% in 2023 in part due to excitement over advances in artificial intelligence - have until recently ignored the risk of rising rates.
“Sentiment could be turning, however. The Nasdaq has started to move inversely with real rates again,” the bank’s analysts wrote. “If this continues, the risk is that equities have a long way to go to price-in rate sensitivity again, hence more downside.”
Schurmeier, of Harbor Capital, said he’s been increasing his exposure to long-duration bonds and value stocks in anticipation that a period of high rates will weigh on growth stocks, as occurred in the mid-2000s following the bursting of the tech bubble.
Of course, plenty of investors believe the Fed will cut rates as soon as economic growth starts to wobble. Futures tied to the Fed’s key policy rate show investors pricing in the first rate cut in July 2024.
"We don’t believe that 'higher for longer' will prove true,” said Eric Kuby, chief investment officer at North Star Investment Management Corp.
Still, he has been holding off on adding to the firm’s holdings of small-cap consumer stocks, wary there may be more market volatility ahead as investors digest higher rates and other factors, including elevated energy prices.
“Certainly, the combination of the Fed’s jawboning and the spike in oil prices are creating headwinds for equities," he said.
Diminishing case for stocks over bonds https://tmsnrt.rs/3LAOw3u
(Reporting by Lewis Krauskopf, David Randall and Carolina Mandl; Editing by Ira Iosebashvili and Leslie Adler)
((David.Randall@thomsonreuters.com; 646-223-6607; Reuters Messaging: david.randall.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Following a 1.5% tumble on Tuesday, the S&P 500 .SPX is now down more than 7% from its July highs, stung by sharp declines in shares of some of this year's biggest winners -- including Apple AAPL.O, Amazon.com AMZN.O and Nvidia NVDA.O. By Lewis Krauskopf, David Randall and Carolina Mandl NEW YORK, Sept 27 (Reuters) - As the Federal Reserve’s hawkish stance boosts Treasury yields and slams stocks, some investors are preparing for more pain ahead. "Stock markets are just plain expensive,” said Dan Villalon, principal and global co-head of portfolio solutions at AQR Capital Management, who believes rates will be higher over the next five to 10 years than in the previous decade, impacting returns.
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Following a 1.5% tumble on Tuesday, the S&P 500 .SPX is now down more than 7% from its July highs, stung by sharp declines in shares of some of this year's biggest winners -- including Apple AAPL.O, Amazon.com AMZN.O and Nvidia NVDA.O. An analysis by AQR Capital Management going back to 1990 showed U.S. equities returned an average of 5.4% over cash when rates were above their median level - as they are now - compared with a return of 11.5% when interest rates were below their median. Still, he has been holding off on adding to the firm’s holdings of small-cap consumer stocks, wary there may be more market volatility ahead as investors digest higher rates and other factors, including elevated energy prices.
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Following a 1.5% tumble on Tuesday, the S&P 500 .SPX is now down more than 7% from its July highs, stung by sharp declines in shares of some of this year's biggest winners -- including Apple AAPL.O, Amazon.com AMZN.O and Nvidia NVDA.O. "Investors are asking, ‘Why do I need to (take) equity risk when I get more returns than that just by holding a Treasury bill?’" If history is any indication, higher rates are a less favorable environment for equity investors. An analysis by AQR Capital Management going back to 1990 showed U.S. equities returned an average of 5.4% over cash when rates were above their median level - as they are now - compared with a return of 11.5% when interest rates were below their median.
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Following a 1.5% tumble on Tuesday, the S&P 500 .SPX is now down more than 7% from its July highs, stung by sharp declines in shares of some of this year's biggest winners -- including Apple AAPL.O, Amazon.com AMZN.O and Nvidia NVDA.O. For most of the year, equity investors brushed off a rise in Treasury yields as a by-product of better-than-expected economic growth, despite worries that yields could eventually weigh on stocks if they rose too high. An analysis by AQR Capital Management going back to 1990 showed U.S. equities returned an average of 5.4% over cash when rates were above their median level - as they are now - compared with a return of 11.5% when interest rates were below their median.
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13415.0
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2023-09-27 00:00:00 UTC
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OpenAI says ChatGPT can now browse internet
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AAPL
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https://www.nasdaq.com/articles/openai-says-chatgpt-can-now-browse-internet
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nan
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nan
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Adds details and background in paragraphs 2 to 4
Sept 27 (Reuters) - Microsoft-backed MSFT.O OpenAI said on Wednesday that ChatGPT can now browse the internet to provide users with current information and that browsing is no longer limited to data before September 2021.
"Browsing is available to Plus and Enterprise users today, and we'll expand to all users soon. To enable, choose Browse with Bing in the selector under GPT-4," the company said in a post on X, formerly known as Twitter.
OpenAI announced a major update to ChatGPT earlier this week that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri.
The artificial intelligence startup behind ChatGPT is talking to investors about a possible sale of existing shares at a much higher valuation from a few months ago, media reports said on Tuesday.
(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Devika Syamnath)
((Samrhitha.A@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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OpenAI announced a major update to ChatGPT earlier this week that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri. Adds details and background in paragraphs 2 to 4 Sept 27 (Reuters) - Microsoft-backed MSFT.O OpenAI said on Wednesday that ChatGPT can now browse the internet to provide users with current information and that browsing is no longer limited to data before September 2021. The artificial intelligence startup behind ChatGPT is talking to investors about a possible sale of existing shares at a much higher valuation from a few months ago, media reports said on Tuesday.
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OpenAI announced a major update to ChatGPT earlier this week that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri. To enable, choose Browse with Bing in the selector under GPT-4," the company said in a post on X, formerly known as Twitter. The artificial intelligence startup behind ChatGPT is talking to investors about a possible sale of existing shares at a much higher valuation from a few months ago, media reports said on Tuesday.
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OpenAI announced a major update to ChatGPT earlier this week that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri. Adds details and background in paragraphs 2 to 4 Sept 27 (Reuters) - Microsoft-backed MSFT.O OpenAI said on Wednesday that ChatGPT can now browse the internet to provide users with current information and that browsing is no longer limited to data before September 2021. (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Devika Syamnath) ((Samrhitha.A@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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OpenAI announced a major update to ChatGPT earlier this week that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri. Adds details and background in paragraphs 2 to 4 Sept 27 (Reuters) - Microsoft-backed MSFT.O OpenAI said on Wednesday that ChatGPT can now browse the internet to provide users with current information and that browsing is no longer limited to data before September 2021. "Browsing is available to Plus and Enterprise users today, and we'll expand to all users soon.
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13416.0
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2023-09-27 00:00:00 UTC
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Zuckerberg kicks off Meta event on future of AR/VR investments
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AAPL
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https://www.nasdaq.com/articles/zuckerberg-kicks-off-meta-event-on-future-of-ar-vr-investments
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nan
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nan
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By Katie Paul and Anna Tong
MENLO PARK, California, Sept 27 (Reuters) - Meta Platforms' META.O newest Quest mixed-reality headset will start shipping on Oct. 10, Chief Executive Mark Zuckerberg said at an event on Wednesday where he is expected to give an update on his plan to build an immersive metaverse, which he sees as the future of computing.
Meta first announced the Quest 3 over the summer, around the time Apple AAPL.O debuted its Vision Pro headset, a high-end product with a price of $3,500.
Starting at $500, the Quest 3 boasts the same mixed-reality technology that premiered in Meta's more expensive Quest Pro device launched last year, which shows wearers a video feed of the real world around them.
Zuckerberg spoke at the Meta Connect conference, the social media company's biggest event of the year as well as its first in-person conference since the start of the pandemic.
The day's announcements are expected to indicate how Zuckerberg plans to navigate the shift this year of investor fervor to artificial intelligence from augmented and virtual reality technologies.
Stakes for the event are high as investors last year slammed the parent company of Facebook and Instagram for spending extensively on the metaverse, prompting Zuckerberg to lay off tens of thousands of staff to continue funding his vision.
Developers will be watching to assess what apps they might create for Meta's latest hardware devices. Investors, meanwhile, will be scouting for signs of whether a gamble that has lost the company more than $40 billion since 2021 may pay off.
Just before the event, Meta said it was delivering on a plan announced early last year to roll out mobile and Web versions of its flagship social VR platform Horizon Worlds. It also quietly added legs to its previously upper-body-only virtual reality avatars, as spotted by industry blog Upload VR.
REFILE-EXCLUSIVE-Meta executive leading AI chip efforts to leave position - sources
(Reporting by Katie Paul and Anna Tong in Menlo Park, California Additional reporting by Yuvraj Malik, Pushkala Aripaka and Shashwat Awashti in Bengaluru Editing by Kenneth Li, Peter Henderson and Matthew Lewis)
((Katie.Paul@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Meta first announced the Quest 3 over the summer, around the time Apple AAPL.O debuted its Vision Pro headset, a high-end product with a price of $3,500. By Katie Paul and Anna Tong MENLO PARK, California, Sept 27 (Reuters) - Meta Platforms' META.O newest Quest mixed-reality headset will start shipping on Oct. 10, Chief Executive Mark Zuckerberg said at an event on Wednesday where he is expected to give an update on his plan to build an immersive metaverse, which he sees as the future of computing. Stakes for the event are high as investors last year slammed the parent company of Facebook and Instagram for spending extensively on the metaverse, prompting Zuckerberg to lay off tens of thousands of staff to continue funding his vision.
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Meta first announced the Quest 3 over the summer, around the time Apple AAPL.O debuted its Vision Pro headset, a high-end product with a price of $3,500. By Katie Paul and Anna Tong MENLO PARK, California, Sept 27 (Reuters) - Meta Platforms' META.O newest Quest mixed-reality headset will start shipping on Oct. 10, Chief Executive Mark Zuckerberg said at an event on Wednesday where he is expected to give an update on his plan to build an immersive metaverse, which he sees as the future of computing. Starting at $500, the Quest 3 boasts the same mixed-reality technology that premiered in Meta's more expensive Quest Pro device launched last year, which shows wearers a video feed of the real world around them.
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Meta first announced the Quest 3 over the summer, around the time Apple AAPL.O debuted its Vision Pro headset, a high-end product with a price of $3,500. By Katie Paul and Anna Tong MENLO PARK, California, Sept 27 (Reuters) - Meta Platforms' META.O newest Quest mixed-reality headset will start shipping on Oct. 10, Chief Executive Mark Zuckerberg said at an event on Wednesday where he is expected to give an update on his plan to build an immersive metaverse, which he sees as the future of computing. Starting at $500, the Quest 3 boasts the same mixed-reality technology that premiered in Meta's more expensive Quest Pro device launched last year, which shows wearers a video feed of the real world around them.
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Meta first announced the Quest 3 over the summer, around the time Apple AAPL.O debuted its Vision Pro headset, a high-end product with a price of $3,500. By Katie Paul and Anna Tong MENLO PARK, California, Sept 27 (Reuters) - Meta Platforms' META.O newest Quest mixed-reality headset will start shipping on Oct. 10, Chief Executive Mark Zuckerberg said at an event on Wednesday where he is expected to give an update on his plan to build an immersive metaverse, which he sees as the future of computing. Starting at $500, the Quest 3 boasts the same mixed-reality technology that premiered in Meta's more expensive Quest Pro device launched last year, which shows wearers a video feed of the real world around them.
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13417.0
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2023-09-27 00:00:00 UTC
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Apple is ordered to face Apple Pay antitrust lawsuit
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AAPL
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https://www.nasdaq.com/articles/apple-is-ordered-to-face-apple-pay-antitrust-lawsuit
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nan
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nan
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By Jonathan Stempel
Sept 27 (Reuters) - Apple AAPL.O was ordered on Wednesday to face a private antitrust lawsuit by payment card issuers accusing the company of thwarting competition for its Apple Pay mobile wallet.
U.S. District Judge Jeffrey White said the plaintiffs could try to prove that Apple violated the federal Sherman antitrust law by enforcing a 100% monopoly over the domestic market for tap-and-pay wallets for iPhones, iPads and Apple Watches.
The Oakland, California-based judge also dismissed a "tying" claim, which accused Apple of requiring purchasers of iOS devices to buy Apple Pay or forego purchases of competing wallets.
Apple, based in Cupertino, California, did not immediately respond to requests for comment.
"We are happy with this ruling," Steve Berman, a lawyer for the plaintiffs, said in an email. "There are billions at stake so getting by the motion (to dismiss) largely intact was huge for the class."
The proposed class action is led by Illinois' Consumers Co-op Credit Union, and Iowa's Affinity Credit Union and GreenState Credit Union.
They said Apple "coerces" people who use its smartphones, tablets and smart watches into using its own wallet for tap-and-pay transactions, unlike makers of Android-based devices that let people choose wallets such as Google Pay and Samsung Pay.
According to the complaint, Apple's conduct forces more than 4,000 banks and credit unions that use Apple Pay to pay at least $1 billion of excess fees, and harms consumers by minimizing the incentive to make Apple Pay safer and easier to use.
White said the plaintiffs plausibly alleged that Apple allow alternatives to Apple Pay, and that more competition would spur innovation and reduce prices.
In seeking a dismissal, Apple said it charged "nominal" fees to even smaller card issuers, and that the plaintiffs ignored the "competitive reality" that consumers could still pay with cash, credit and debit cards, and other means.
European Union antitrust regulators accused Apple in May 2022 of abusing its dominance in iOS devices and mobile wallets. The regulators have since continued their investigation.
The case is Affinity Credit Union et al v Apple Inc, U.S. District Court, Northern District of California, No. 22-04174.
(Reporting by Jonathan Stempel in New York; Additional reporting by Mike Scarcella; Editing by David Gregorio)
((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Jonathan Stempel Sept 27 (Reuters) - Apple AAPL.O was ordered on Wednesday to face a private antitrust lawsuit by payment card issuers accusing the company of thwarting competition for its Apple Pay mobile wallet. They said Apple "coerces" people who use its smartphones, tablets and smart watches into using its own wallet for tap-and-pay transactions, unlike makers of Android-based devices that let people choose wallets such as Google Pay and Samsung Pay. European Union antitrust regulators accused Apple in May 2022 of abusing its dominance in iOS devices and mobile wallets.
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By Jonathan Stempel Sept 27 (Reuters) - Apple AAPL.O was ordered on Wednesday to face a private antitrust lawsuit by payment card issuers accusing the company of thwarting competition for its Apple Pay mobile wallet. The Oakland, California-based judge also dismissed a "tying" claim, which accused Apple of requiring purchasers of iOS devices to buy Apple Pay or forego purchases of competing wallets. The proposed class action is led by Illinois' Consumers Co-op Credit Union, and Iowa's Affinity Credit Union and GreenState Credit Union.
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By Jonathan Stempel Sept 27 (Reuters) - Apple AAPL.O was ordered on Wednesday to face a private antitrust lawsuit by payment card issuers accusing the company of thwarting competition for its Apple Pay mobile wallet. The Oakland, California-based judge also dismissed a "tying" claim, which accused Apple of requiring purchasers of iOS devices to buy Apple Pay or forego purchases of competing wallets. According to the complaint, Apple's conduct forces more than 4,000 banks and credit unions that use Apple Pay to pay at least $1 billion of excess fees, and harms consumers by minimizing the incentive to make Apple Pay safer and easier to use.
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By Jonathan Stempel Sept 27 (Reuters) - Apple AAPL.O was ordered on Wednesday to face a private antitrust lawsuit by payment card issuers accusing the company of thwarting competition for its Apple Pay mobile wallet. U.S. District Judge Jeffrey White said the plaintiffs could try to prove that Apple violated the federal Sherman antitrust law by enforcing a 100% monopoly over the domestic market for tap-and-pay wallets for iPhones, iPads and Apple Watches. Apple, based in Cupertino, California, did not immediately respond to requests for comment.
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13418.0
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2023-09-27 00:00:00 UTC
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Stealth Picks: 3 Buy-Rated Stocks Flying Below the Radar
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AAPL
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https://www.nasdaq.com/articles/stealth-picks%3A-3-buy-rated-stocks-flying-below-the-radar
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
AI is the market’s darling of the year, and some experts and participants are focusing on “Big Tech,” like Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL). Meanwhile, a few stocks are silently gaining momentum and producing exceptional returns. Their movements haven’t been noticed due to the nature of their price performance — which is to say they don’t give out a 20% return in a day. But eye-popping short-term price hikes aren’t the only way to grow. Compounding gains can build year-to-date (YTD) performances and boost portfolios to superstardom.
These stealth performers come from various industries and are trading above their medium-term moving average (100-day SMA or similar). They usually give incremental returns that don’t show up in your typical top 10 performing stocks of the day. Their non-volatile nature puts them under everyone’s radar until, one day, investors realize that these stocks have already been up more than 50% this year. If that sounds appealing to you, these low-profile performers are for you.
Vita Coco Company, Inc. (COCO)
Source: Nicole Glass Photography / Shutterstock.com
The Vita Coco Company, Inc. (NASDAQ:COCO) is a beverage company specializing in coconut water, but also includes other coconut-based products like oil, juice, coconut coconut milk and other related offerings. COCO is positioned to exploit consumers’ growing inclination toward healthy lifestyle choices.
COCO has been performing well throughout the year in terms of price, gaining 90.67% YTD. Vita Coco surpassed EPS estimates for two consecutive quarters, with its latest EPS report beating analyst expectations by 44.44%, while net sales grew by 18% YoY. Analysts also recommend COCO as a “Strong Buy” due to its strong financials, with an average price target of $30.25.
FTAI Aviation Ltd (FTAI)
Source: frank_peters / Shutterstock.com
FTAI Aviation Ltd (NASDAQ:FTAI) supplies commercial jet engines, specializing in the CFM56 engines, engine modules and materials. The company develops and manufactures aircraft engines and aftermarket components via joint ventures and arrangements in its aerospace product segment. FTAI also leases or sells its aviation assets, including aircraft and engines, to its customers. Its CFM56 engine has the largest market share of engines in service today. Analysts rated the company a “Strong buy” with a fair value target of $40.88, representing a possible upside of 20.77%.
FTAI has been slowly moving up from the start of the year and trading in an ascending channel, and prices are up 101.18% YTD. The company has also beat analyst expectations with an earnings surprise of 64.29%. This substantial price performance and positive earnings growth make FTAI one of our recommended buy-rated stocks.
M/I Homes (MHO)
Source: ARMMY PICCA/ShutterStock.com
M/I Homes, Inc. (NYSE:MHO) is a home-building company that designs and sells single-family homes and attached townhomes. The company has two main segments of operations, the first of which is homebuilding for its land and lot sales. Its second segment, financial services, offers mortgage services to its customers under its subsidiary, M/I Financial, LLC. Brokers like Wedbush Securities see a bright future for MHO and recommend it as a “Strong Buy” with a fair value estimate of $116.00.
M/I Homes, another slow yet strong and stealthy performer, is up 79.65% YTD. Its most recent EPS report beat analyst estimates by 68.16% and boasts a positive 23% ROE. Even with higher interest rates and poor economic conditions, the company was able to increase new contracts by 21%. MHO’s solid financial and price performance earns it a spot on our buy-rated stocks list.
On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Rick Orford is a Wall Street Journal best-selling author, investor, influencer, and mentor. His work has appeared in the most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News.
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The post Stealth Picks: 3 Buy-Rated Stocks Flying Below the Radar appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips AI is the market’s darling of the year, and some experts and participants are focusing on “Big Tech,” like Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL). The company develops and manufactures aircraft engines and aftermarket components via joint ventures and arrangements in its aerospace product segment. His work has appeared in the most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips AI is the market’s darling of the year, and some experts and participants are focusing on “Big Tech,” like Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL). Vita Coco Company, Inc. (COCO) Source: Nicole Glass Photography / Shutterstock.com The Vita Coco Company, Inc. (NASDAQ:COCO) is a beverage company specializing in coconut water, but also includes other coconut-based products like oil, juice, coconut coconut milk and other related offerings. Analysts also recommend COCO as a “Strong Buy” due to its strong financials, with an average price target of $30.25.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips AI is the market’s darling of the year, and some experts and participants are focusing on “Big Tech,” like Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL). Vita Coco Company, Inc. (COCO) Source: Nicole Glass Photography / Shutterstock.com The Vita Coco Company, Inc. (NASDAQ:COCO) is a beverage company specializing in coconut water, but also includes other coconut-based products like oil, juice, coconut coconut milk and other related offerings. FTAI Aviation Ltd (FTAI) Source: frank_peters / Shutterstock.com FTAI Aviation Ltd (NASDAQ:FTAI) supplies commercial jet engines, specializing in the CFM56 engines, engine modules and materials.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips AI is the market’s darling of the year, and some experts and participants are focusing on “Big Tech,” like Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL). COCO has been performing well throughout the year in terms of price, gaining 90.67% YTD. Analysts also recommend COCO as a “Strong Buy” due to its strong financials, with an average price target of $30.25.
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13419.0
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2023-09-27 00:00:00 UTC
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India tax dept searches offices of Apple supplier Flex - source
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AAPL
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https://www.nasdaq.com/articles/india-tax-dept-searches-offices-of-apple-supplier-flex-source
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nan
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nan
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Adds details
NEW DELHI, Sept 27 (Reuters) - India's income tax department conducted searches at the premises of Apple AAPL.O supplier Flex FLEX.O in Tamil Nadu state, a source said on Wednesday.
Income tax officials have visited the Chennai factory as part of the inquiry, thesource said, adding that Flex has yet to be informed about the purpose of the visit.
The income tax department did not immediately respond to a Reuters' request for comment.
(Reporting by Aditya Karla; Writing by Blassy Boben; Editing by Bernadette Baum)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details NEW DELHI, Sept 27 (Reuters) - India's income tax department conducted searches at the premises of Apple AAPL.O supplier Flex FLEX.O in Tamil Nadu state, a source said on Wednesday. The income tax department did not immediately respond to a Reuters' request for comment. (Reporting by Aditya Karla; Writing by Blassy Boben; Editing by Bernadette Baum) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details NEW DELHI, Sept 27 (Reuters) - India's income tax department conducted searches at the premises of Apple AAPL.O supplier Flex FLEX.O in Tamil Nadu state, a source said on Wednesday. Income tax officials have visited the Chennai factory as part of the inquiry, thesource said, adding that Flex has yet to be informed about the purpose of the visit. The income tax department did not immediately respond to a Reuters' request for comment.
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Adds details NEW DELHI, Sept 27 (Reuters) - India's income tax department conducted searches at the premises of Apple AAPL.O supplier Flex FLEX.O in Tamil Nadu state, a source said on Wednesday. Income tax officials have visited the Chennai factory as part of the inquiry, thesource said, adding that Flex has yet to be informed about the purpose of the visit. (Reporting by Aditya Karla; Writing by Blassy Boben; Editing by Bernadette Baum) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details NEW DELHI, Sept 27 (Reuters) - India's income tax department conducted searches at the premises of Apple AAPL.O supplier Flex FLEX.O in Tamil Nadu state, a source said on Wednesday. Income tax officials have visited the Chennai factory as part of the inquiry, thesource said, adding that Flex has yet to be informed about the purpose of the visit. The income tax department did not immediately respond to a Reuters' request for comment.
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13420.0
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2023-09-27 00:00:00 UTC
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US STOCKS-S&P 500, Nasdaq rise after previous session's thrashing; yields ease
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AAPL
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https://www.nasdaq.com/articles/us-stocks-sp-500-nasdaq-rise-after-previous-sessions-thrashing-yields-ease
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nan
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By Ankika Biswas and Shashwat Chauhan
Sept 27 (Reuters) - The S&P 500 and the Nasdaq advanced on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook.
A pullback in the two- and 10-year Treasury yields US2YT=RR, US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Nvidia NVDA.O, Meta Platforms META.O and Alphabet GOOGL.O, up between 0.2% and 1.3%.
At 9:38 a.m. ET, the Dow Jones Industrial Average .DJI was up 4.43 points, or 0.01%, at 33,623.31, the S&P 500 .SPX was up 11.15 points, or 0.26%, at 4,284.68, and the Nasdaq Composite .IXIC was up 56.58 points, or 0.43%, at 13,120.19.
"When the market declines rather rapidly and it has for quite some time, bargain hunters will step in and periodically buy things," said Randy Frederick, managing director of trading and derivatives for Charles Schwab.
Energy .SPNY led gains amongst the major S&P 500 sectors, advancing 1.2% as crude prices rose over 1%, while real estate .SPLRCR added 0.5% following a near 2% drop on Tuesday.
All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
"The longer-term momentum is still positive even though we are in a period of short-term pullback and that's driven by a lot of things - high interest rates, high crude oil prices and the prospect of a government shutdown at the end of this week," Frederick added.
The S&P 500 .SPX and the Nasdaq .IXIC are set for their worst monthly showing so far this year, while all the three indexes including the Dow .DJI are eyeing their first quarterly decline in 2023.
For the rest of the week, investors will monitor second-quarter GDP and the monthly personal consumption expenditures price index, along with Federal Reserve Chair Jerome Powell's remarks.
On Wednesday's data front, orders for long-lasting U.S. manufactured goods unexpectedly rose in August.
Traders' bets on the benchmark rate remaining unchanged in November and December stood around 84% and 62%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 33% in June and July.
Meanwhile, the U.S. Senate on Tuesday took a step forward on a bipartisan bill to stop a government shutdown on Sunday, while the House sought to push ahead with a Republican-backed measure. The current partisan gridlock has begun to darken Wall Street's view of U.S. government credit.
Marriott InternationalMAR.O added 1.3% after the hotel operator forecast two-year annualized global revenue per available room (RevPAR) growth of 3% to 6% by 2025.
Mattel MAT.O rose 2.9% after Morgan Stanley initiated coverage on shares of the maker of Uno playing cards with an "overweight" rating.
Advancing issues outnumbered decliners by a 4.07-to-1 ratio on the NYSE and a 3.26-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and 13 new lows, while the Nasdaq recorded 12 new highs and 56 new lows.
(Reporting by Ankika Biswas, Shashwat Chauhan and Amruta Khandekar in Bengaluru; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A pullback in the two- and 10-year Treasury yields US2YT=RR, US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Nvidia NVDA.O, Meta Platforms META.O and Alphabet GOOGL.O, up between 0.2% and 1.3%. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - The S&P 500 and the Nasdaq advanced on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook. "When the market declines rather rapidly and it has for quite some time, bargain hunters will step in and periodically buy things," said Randy Frederick, managing director of trading and derivatives for Charles Schwab.
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A pullback in the two- and 10-year Treasury yields US2YT=RR, US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Nvidia NVDA.O, Meta Platforms META.O and Alphabet GOOGL.O, up between 0.2% and 1.3%. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - The S&P 500 and the Nasdaq advanced on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook. All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
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A pullback in the two- and 10-year Treasury yields US2YT=RR, US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Nvidia NVDA.O, Meta Platforms META.O and Alphabet GOOGL.O, up between 0.2% and 1.3%. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - The S&P 500 and the Nasdaq advanced on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook. All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
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A pullback in the two- and 10-year Treasury yields US2YT=RR, US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Nvidia NVDA.O, Meta Platforms META.O and Alphabet GOOGL.O, up between 0.2% and 1.3%. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - The S&P 500 and the Nasdaq advanced on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook. All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
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13421.0
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2023-09-27 00:00:00 UTC
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Can the iPhone 15 Help Reverse Apple's Sales Decline?
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AAPL
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https://www.nasdaq.com/articles/can-the-iphone-15-help-reverse-apples-sales-decline
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nan
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nan
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Shares of Apple (NASDAQ: AAPL) have been under pressure of late on account of multiple factors, such as reports of a ban by Chinese state-owned enterprises on the use of iPhones by their employees, weak consumer demand for smartphones, and rumors that the iPhone maker may run into supply chain challenges that could force it to reduce the number of smartphones it builds this year.
And now, Wall Street doesn't seem to be impressed by Apple's latest iPhone 15 lineup, which was revealed on Sept. 12. Apple stock retreated nearly 2% after the launch event. Though shares of the tech giant are up 35% so far in 2023, they have pulled back nearly 10% since the beginning of August.
With all the headwinds that Apple is facing right now, should investors consider booking their profits before the stock slides further? Let's find out.
iPhone 15 sales prospects don't look too bright
Apple started taking pre-orders for its iPhone 15 models on Sept. 15, and they have been available in stores since Sept. 22. The tech giant has traditionally released its iPhones during September to capitalize on the usually strong holiday shopping season that arrives in the final quarter of the calendar year. However, there are a few challenges that could keep the iPhone 15 from setting the market on fire at the end of 2023.
One of the primary challenges is that Apple is reportedly expected to produce fewer iPhone 15 units this year. Japanese investment bank Mizuho estimates that Apple could end up building 73 million units of its latest smartphone lineup as compared to the earlier forecast of 84 million units due to supply chain problems. The firm adds that Apple's 2023 iPhone production could top out at 217 million units, down from the earlier estimate of 227 million units.
Apple shipped an estimated 226 million iPhones in 2022, according to market research firm IDC. Its smartphone shipments in the fourth quarter of 2022 stood at just over 72 million units. So, Mizuho's updated production estimate suggests that Apple may hardly enjoy an uptick in iPhone shipments in the fourth quarter of calendar 2023.
Apple has raised the starting price on just one of its models. The iPhone 15 Pro Max now starts at $1,199 vs. $1,099 for its predecessor last year (though it now has double the storage capacity). As a result, the company may not enjoy much of a bump in the average sales price (ASP). It is worth noting that a nice bump in Apple's iPhone ASP has helped the company defy the slowdown in the smartphone market to some extent.
For instance, the company's iPhone revenue is down just 3.6% in the first nine months of the ongoing fiscal 2023 to $156.8 billion, accounting for 53% of its top line. The overall smartphone market, on the other hand, has witnessed an 11% drop in shipments in the first half of 2023. With global smartphone shipments expected to decline 6% in 2023, according to Counterpoint Research, the end-market conditions don't appear to be conducive for the iPhone 15 lineup.
What about the upgrade cycle?
Wedbush Securities analyst Dan Ives estimates that of Apple's installed base of 1.2 billion iPhones, 25% are now in an upgrade window as they are using devices that haven't been upgraded in four years. According to that estimate, the iPhone 15 lineup could move as many as 300 million units. But Apple will have to produce enough units to ensure that it could lure those customers into upgrading, as long waiting times on account of higher demand and supply chain bottlenecks could eventually cause potential consumers to lose interest in the devices.
Additionally, there are concerns that Apple's move to remove the lightning port in favor of a USB-C type port to fall in line with regulations in the European Union (EU) could slow the potential upgrade cycle. It remains to be seen if such a change actually keeps users from upgrading. However, given that updates to the new iPhone 15 lineup are considered mostly incremental, there is a chance that Apple's existing installed base may give the device a miss if the company is unable to quickly ramp up production.
In all, Apple's new iPhones may not turn out to be a runaway success and the stock could remain under pressure in the final quarter of the year if the challenges discussed above indeed bog down the sales of the new devices. More importantly, a drop in iPhone sales would weigh on Apple's overall financial performance considering the influence of this product on its top and bottom lines.
Analysts are expecting Apple's revenue to decline almost 3% in the ongoing fiscal year to $383 billion. Its performance is expected to improve slightly in fiscal 2024 with a 6% revenue jump. But that would depend a lot on how the company's new iPhone performs at the sales counters and if it can produce enough of them.
The good news for Apple investors is that the pre-orders for the new iPhones seem to be stronger than last year. Wedbush estimates that iPhone 15 pre-orders are tracking 10% to 12% higher than last year's iPhone 14 models. More importantly, a major portion of the demand is for the higher-priced Pro and Pro Max models, which may lead to a slight bump in the ASP. It is also worth noting that Apple is witnessing robust growth in emerging markets such as India, where pre-orders have reportedly jumped 25% over the prior year, and that's a positive given the lucrative revenue it could generate from that country.
Another factor that could be driving higher iPhone 15 demand is the growing adoption of 5G smartphones. Apple reportedly controlled 24% of the global 5G smartphone market at the end of last year, according to ABI Research. This could be a secular growth opportunity for Apple in the long run considering that global 5G smartphone penetration could jump from 13% last year to 64% in 2030.
So, even though sales of the new iPhones may get off to a rough start if Apple cannot produce enough of them, there is enough evidence that points toward healthy demand for the company's smartphones in the future. Now, investors may be tempted to book profits in this tech stock as its most popular product may not be able to pull out of the rut it is in, at least in the short run, but that could open a buying opportunity for savvy investors looking to set their portfolios up for long-term gains.
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Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Apple (NASDAQ: AAPL) have been under pressure of late on account of multiple factors, such as reports of a ban by Chinese state-owned enterprises on the use of iPhones by their employees, weak consumer demand for smartphones, and rumors that the iPhone maker may run into supply chain challenges that could force it to reduce the number of smartphones it builds this year. But Apple will have to produce enough units to ensure that it could lure those customers into upgrading, as long waiting times on account of higher demand and supply chain bottlenecks could eventually cause potential consumers to lose interest in the devices. However, given that updates to the new iPhone 15 lineup are considered mostly incremental, there is a chance that Apple's existing installed base may give the device a miss if the company is unable to quickly ramp up production.
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Shares of Apple (NASDAQ: AAPL) have been under pressure of late on account of multiple factors, such as reports of a ban by Chinese state-owned enterprises on the use of iPhones by their employees, weak consumer demand for smartphones, and rumors that the iPhone maker may run into supply chain challenges that could force it to reduce the number of smartphones it builds this year. Japanese investment bank Mizuho estimates that Apple could end up building 73 million units of its latest smartphone lineup as compared to the earlier forecast of 84 million units due to supply chain problems. The firm adds that Apple's 2023 iPhone production could top out at 217 million units, down from the earlier estimate of 227 million units.
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Shares of Apple (NASDAQ: AAPL) have been under pressure of late on account of multiple factors, such as reports of a ban by Chinese state-owned enterprises on the use of iPhones by their employees, weak consumer demand for smartphones, and rumors that the iPhone maker may run into supply chain challenges that could force it to reduce the number of smartphones it builds this year. iPhone 15 sales prospects don't look too bright Apple started taking pre-orders for its iPhone 15 models on Sept. 15, and they have been available in stores since Sept. 22. Wedbush Securities analyst Dan Ives estimates that of Apple's installed base of 1.2 billion iPhones, 25% are now in an upgrade window as they are using devices that haven't been upgraded in four years.
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Shares of Apple (NASDAQ: AAPL) have been under pressure of late on account of multiple factors, such as reports of a ban by Chinese state-owned enterprises on the use of iPhones by their employees, weak consumer demand for smartphones, and rumors that the iPhone maker may run into supply chain challenges that could force it to reduce the number of smartphones it builds this year. One of the primary challenges is that Apple is reportedly expected to produce fewer iPhone 15 units this year. Wedbush Securities analyst Dan Ives estimates that of Apple's installed base of 1.2 billion iPhones, 25% are now in an upgrade window as they are using devices that haven't been upgraded in four years.
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13422.0
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2023-09-27 00:00:00 UTC
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Apple Delays Newest Processor Rollout -- Is Taiwan Semi Manufacturing in Deep Trouble?
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AAPL
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https://www.nasdaq.com/articles/apple-delays-newest-processor-rollout-is-taiwan-semi-manufacturing-in-deep-trouble
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Another one of Apple's (NASDAQ: AAPL) perennially popular iPhone release events is in the history books. The iPhone 15 family has been announced, and it will be the first computing device available using 3 nanometer (3nm) chipmaking technology (a designation that used to refer to the tiny transistor size on processors, but these days is more marketing than anything else). Taiwan Semiconductor Manufacturing (NYSE: TSM) has been busy since late 2022 cranking out these new high-powered chips for Apple's flagship product.
But seemingly missing from any processor upgrades, at least up until this point, are the MacBooks -- which are now fully powered by similar Apple Silicon M-series processors, like the iPhones. It looks like MacBooks may have to wait until 2024 for the latest and greatest advances in manufacturing. Is this signaling trouble for Taiwan Semiconductor Manufacturing (TSM)?
Chip manufacturing is a battleground
TSM is far and away the biggest third-party semiconductor foundry. It partners with virtually everyone else in the chip universe to handle some part of the complex manufacturing supply chain, and commands a majority ofglobal marketshare when excluding memory chips from the equation. Samsung's third-party foundry is in a distant second place, with Intel gunning to take that No. 2 spot.
In fact, Intel has been shuffling around its operations, investing gobs of cash, and scoring government aid along the way to invest in its third-party foundry -- dubbed Intel Foundry Services (IFS). Though Intel currently has a massive manufacturing base it primarily uses to make its own in-house designed chips, it wants to open up this capacity to the world to offer supply chain diversification from TSM.
Intel CEO Pat Gelsinger has been adamant that the company is on track to reclaim tech manufacturing leadership by 2024. Intel says its 20A manufacturing node chips will be ready for 2024, and its 18A manufacturing node will reach production by the second half of 2024. The "A" stands for Angstrom, of which there are 10 in a nanometer, meaning Intel will beat TSM to 2nm chip manufacturing. TSM calls this N2, and it's scheduled to reach production by 2025 or 2026.
Of note, final specifics on these future chip manufacturing processes have not been fully revealed, and these size names are largely marketing terms. Nevertheless, Intel's 20A and 18A will be the first to utilize what's called Gate All Around (GAA) field-effect transistor (FET) technology -- or GAAFET -- the successor to the current leading manufacturing tech FinFET (fin-shaped field-effect transistor).
What could this have to do with Apple?
The iPhone-TSM chips aren't the same MacBook-TSM chips
The iPhone 15s are the first to use 3nm (or N3B, as TSM calls it) manufactured chips. But the MacBooks are still on the previous generation N5 (5nm) manufacturing process. Rumors have it that Apple is waiting for the next optimized manufacturing line, N3E, which is now entering full production for device launches in 2024. Other customers are also vying to get a piece of TSM's N3E manufacturing capacity.
Perhaps a MacBook with an N3 chip made by TSM -- an "M3" successor to the current second-gen M2 processor powering the current lineup of MacBooks -- will be announced next year. No word from Apple yet.
Or perhaps Apple is interested to see what kind of performance gains could be wrung from Intel's latest and greatest manufacturing, which will begin mass production next year, assuming no Intel setbacks. Could Intel be about to pull a coup?
TSM will be fine
To be clear, when filtering out the cheerleading from Intel management, IFS isn't gunning to overtake TSM's manufacturing empire in a single swoop. That would be impossible given TSM's epic size and how embedded it is into the global economy. Rather, Intel is simply looking to play some catch up.
And as I recently highlighted from some Broadcom commentary, chip designers that use TSM are likely to remain loyal given their long-standing relationship with the Taiwanese powerhouse. I'd venture to say Apple would prefer this too, rather than needing to do a full chip redesign just to utilize Intel's newest manufacturing prowess.
However, manufacturing supply chain diversification is a must. It will be interesting to see if Intel can optimize its new operations to land some secondary orders from some of these customers (like Apple, which would be a feather in IFS' cap) as they seek to bolster their own chip supply chains for their respective latest tech devices.
Long story short, when removing the marketing hubbub and management teams taking shots at each other, TSM is likely to be just fine, even if it falls roughly a year behind Intel's IFS top-of-the-line manufacturing processes. Intel has a lot to potentially gain, but it's not going to reconquer TSM that easily.
10 stocks we like better than Taiwan Semiconductor Manufacturing
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Nicholas Rossolillo has positions in Apple and Broadcom. The Motley Fool has positions in and recommends Apple and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and Intel and recommends the following options: long January 2023 $57.50 calls on Intel and long January 2025 $45 calls on Intel. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Another one of Apple's (NASDAQ: AAPL) perennially popular iPhone release events is in the history books. The iPhone 15 family has been announced, and it will be the first computing device available using 3 nanometer (3nm) chipmaking technology (a designation that used to refer to the tiny transistor size on processors, but these days is more marketing than anything else). Though Intel currently has a massive manufacturing base it primarily uses to make its own in-house designed chips, it wants to open up this capacity to the world to offer supply chain diversification from TSM.
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Another one of Apple's (NASDAQ: AAPL) perennially popular iPhone release events is in the history books. TSM will be fine To be clear, when filtering out the cheerleading from Intel management, IFS isn't gunning to overtake TSM's manufacturing empire in a single swoop. The Motley Fool has positions in and recommends Apple and Taiwan Semiconductor Manufacturing.
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Another one of Apple's (NASDAQ: AAPL) perennially popular iPhone release events is in the history books. Intel says its 20A manufacturing node chips will be ready for 2024, and its 18A manufacturing node will reach production by the second half of 2024. The iPhone-TSM chips aren't the same MacBook-TSM chips The iPhone 15s are the first to use 3nm (or N3B, as TSM calls it) manufactured chips.
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Another one of Apple's (NASDAQ: AAPL) perennially popular iPhone release events is in the history books. What could this have to do with Apple? The iPhone-TSM chips aren't the same MacBook-TSM chips The iPhone 15s are the first to use 3nm (or N3B, as TSM calls it) manufactured chips.
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13423.0
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2023-09-27 00:00:00 UTC
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US STOCKS-Wall St eyes higher open after previous session's mauling
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-eyes-higher-open-after-previous-sessions-mauling
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By Ankika Biswas and Shashwat Chauhan
Sept 27 (Reuters) - Major U.S. stock indexes were set for a higher open on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook.
A pullback in the two-year and 10-year Treasury yields US2YT=RRUS10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O, up between 0.4% and 0.8%, in premarket trading.
At 8:43 a.m. ET, Dow e-minis 1YMcv1 were up 94 points, or 0.28%, S&P 500 e-minis EScv1 were up 15.5 points, or 0.36%, and Nasdaq 100 e-minis NQcv1 were up 50.75 points, or 0.34%.
"When the market declines rather rapidly and it has for quite some time, bargain hunters will step in and periodically buy things," said Randy Frederick, managing director of trading and derivatives for Charles Schwab.
All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
However, markets are bracing for some more volatility, with policymakers projecting elevated rates until the end of 2024, boosting Treasury yields, which are sensitive to interest rate expectations and seen as risk-free due to government backing.
"The longer-term momentum is still positive even though we are in a period of short-term pullback and that's driven by a lot of things- high interest rates, high crude oil prices and the prospect of a government shutdown at the end of this week," Frederick added.
The S&P 500 .SPX and the Nasdaq .IXIC are set for their worst monthly showing so far this year, while all the three indexes including the Dow .DJI are eyeing their first quarterly decline in 2023.
Data showed orders for long-lasting U.S. manufactured goods unexpectedly rose in August and there were signs that business spending on equipment retained some momentum after faltering early in the third quarter.
For the rest of the week, investors will monitor second-quarter GDP and the monthly personal consumption expenditures price index, along with Federal Reserve Chair Jerome Powell's remarks.
Traders' bets on the benchmark rate remaining unchanged in November and December stood around 80% and 64%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 33% in June and July.
On the political front, the U.S. Senate on Tuesday took a step forward on a bipartisan bill to stop a government shutdown on Sunday, while the House sought to push ahead with a Republican-backed measure. The current partisan gridlock has begun to darken Wall Street's view of U.S. government credit.
Among single stocks, Rivian Automotive RIVN.O gained 1.6% on plans to use subscription models for monetizing various features in cars.
CostcoCOST.O dipped 1.8% even though the wholesale retailer reported better-than-expected fourth-quarter results, with analysts pinning the fall on broader market concerns.
(Reporting by Ankika Biswas, Shashwat Chauhan and Amruta Khandekar in Bengaluru; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A pullback in the two-year and 10-year Treasury yields US2YT=RRUS10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O, up between 0.4% and 0.8%, in premarket trading. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - Major U.S. stock indexes were set for a higher open on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook. Data showed orders for long-lasting U.S. manufactured goods unexpectedly rose in August and there were signs that business spending on equipment retained some momentum after faltering early in the third quarter.
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A pullback in the two-year and 10-year Treasury yields US2YT=RRUS10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O, up between 0.4% and 0.8%, in premarket trading. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - Major U.S. stock indexes were set for a higher open on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook. All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
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A pullback in the two-year and 10-year Treasury yields US2YT=RRUS10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O, up between 0.4% and 0.8%, in premarket trading. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - Major U.S. stock indexes were set for a higher open on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook. All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
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A pullback in the two-year and 10-year Treasury yields US2YT=RRUS10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O, up between 0.4% and 0.8%, in premarket trading. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - Major U.S. stock indexes were set for a higher open on Wednesday as easing Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's policy outlook. All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
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13424.0
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2023-09-27 00:00:00 UTC
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Pegatron says iPhone assembly resumes at Indian factory after fire
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AAPL
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https://www.nasdaq.com/articles/pegatron-says-iphone-assembly-resumes-at-indian-factory-after-fire
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nan
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nan
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By Munsif Vengattil
BENGALURU, Sept 27 (Reuters) - Pegatron 4938.TW has resumed production at its contract facility for Apple AAPL.O in southern India after a shutdown over the weekend due to a fire, the company said on Wednesday.
A company spokesperson declined to say whether manufacturing has been resumed partially or fully.
Pegatron had halted the assembly of iPhones for the past two days at its factory in Tamil Nadu state after a fire broke out on Sunday.
It has previously said the incident "does not have significant financial or operational impact".
The fire was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, Reuters reported earlier on Wednesday.
(Reporting by Munsif Vengattil in Bengaluru and Praveen Paramasivam in Chennai, Editing by Louise Heavens and Bernadette Baum)
((munsif.vengattil@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Munsif Vengattil BENGALURU, Sept 27 (Reuters) - Pegatron 4938.TW has resumed production at its contract facility for Apple AAPL.O in southern India after a shutdown over the weekend due to a fire, the company said on Wednesday. Pegatron had halted the assembly of iPhones for the past two days at its factory in Tamil Nadu state after a fire broke out on Sunday. The fire was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, Reuters reported earlier on Wednesday.
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By Munsif Vengattil BENGALURU, Sept 27 (Reuters) - Pegatron 4938.TW has resumed production at its contract facility for Apple AAPL.O in southern India after a shutdown over the weekend due to a fire, the company said on Wednesday. The fire was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, Reuters reported earlier on Wednesday. (Reporting by Munsif Vengattil in Bengaluru and Praveen Paramasivam in Chennai, Editing by Louise Heavens and Bernadette Baum) ((munsif.vengattil@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Munsif Vengattil BENGALURU, Sept 27 (Reuters) - Pegatron 4938.TW has resumed production at its contract facility for Apple AAPL.O in southern India after a shutdown over the weekend due to a fire, the company said on Wednesday. It has previously said the incident "does not have significant financial or operational impact". (Reporting by Munsif Vengattil in Bengaluru and Praveen Paramasivam in Chennai, Editing by Louise Heavens and Bernadette Baum) ((munsif.vengattil@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Munsif Vengattil BENGALURU, Sept 27 (Reuters) - Pegatron 4938.TW has resumed production at its contract facility for Apple AAPL.O in southern India after a shutdown over the weekend due to a fire, the company said on Wednesday. A company spokesperson declined to say whether manufacturing has been resumed partially or fully. Pegatron had halted the assembly of iPhones for the past two days at its factory in Tamil Nadu state after a fire broke out on Sunday.
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13425.0
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2023-09-27 00:00:00 UTC
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Netflix (NFLX) Expands Gaming Portfolio With Four New Games
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AAPL
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https://www.nasdaq.com/articles/netflix-nflx-expands-gaming-portfolio-with-four-new-games
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nan
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nan
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Netflix NFLX is keeping users engaged through its expanding portfolio of games. This month, the streaming giant launched four new games including Netflix Stories: Love is Blind, Storyteller, Ghost Detective and Vikings Valhalla.
Ghost Detective was developed by Wooga while Vikings Valhalla was developed by Tilting Point and Emerald City Games. Netflix Stories: Love is Blind was developed by Boss Fight, a Netflix Game Studio. Puzzle game Storyteller from Annapurna Interactive and Daniel Benmergui is now available for the first time on mobile.
Netflix’s games portfolio now includes roughly 70 titles. It is leveraging games to keep users engaged on its platform amid intensifying competition from the likes of Disney DIS, Apple AAPL and Amazon AMZN.
While Netflix shares have returned 28.7% year to date, shares of Amazon and Apple have returned 50% and 32.5%, respectively, on a year-to-date basis. Disney shares have declined 7.8%.
Netflix’s strong foreign language content portfolio has been a key catalyst in driving share price performance. This Zacks Rank #3 (Hold) stock is strengthening its footprint in the Asia Pacific (APAC) region, with a plethora of content and initiatives that support creativity. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In second-quarter 2023, APAC’s paid subscriber base increased 16.5% year over year to 40.55 million, adding 1.07 million new paid subscribers. In comparison, the subscriber base in the United States and Canada, Europe, Middle East & Africa and Latin America increased 3.1%, 9.4% and 7.2%, on a year-over-year basis, respectively.
Korean content has been a major growth driver for Netflix. It is adding an array of Korean originals to its portfolio, including Mask Girl, Behind Your Touch and Destined With You. It recently confirmed the production of Aema, a Korean original series following the struggles of Hui-ran and Joo-ae in creating the 1980s hit film Madame Aema, set in 80s Chungmuro.
Apart from Korean shows, Netflix is expanding its footprint in India through partnerships with the likes of Yash Raj Films and acclaimed director Neeraj Pandey’s Friday Storytellers LLP, the digital content production arm of Friday Filmworks.
Netflix’s Prospects Bright in 2023
Netflix now expects revenue growth to accelerate in the second half of 2023, driven by the launch of the paid sharing initiative and an expanding content offering.
For the third quarter of 2023, Netflix now forecasts earnings of $3.52 per share, indicating an almost 10% increase from the figure reported in the year-ago quarter. Total revenues are anticipated to be $8.52 billion, suggesting growth of 7% year over year and on a forex-neutral basis.
The Zacks Consensus Estimate for Netflix's third-quarter revenues is pegged at $8.53 billion, indicating 7.59% year-over-year growth. The consensus mark for earnings increased by a penny over the past 30 days to $3.49 per share.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It is leveraging games to keep users engaged on its platform amid intensifying competition from the likes of Disney DIS, Apple AAPL and Amazon AMZN. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. This month, the streaming giant launched four new games including Netflix Stories: Love is Blind, Storyteller, Ghost Detective and Vikings Valhalla.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. It is leveraging games to keep users engaged on its platform amid intensifying competition from the likes of Disney DIS, Apple AAPL and Amazon AMZN. This month, the streaming giant launched four new games including Netflix Stories: Love is Blind, Storyteller, Ghost Detective and Vikings Valhalla.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. It is leveraging games to keep users engaged on its platform amid intensifying competition from the likes of Disney DIS, Apple AAPL and Amazon AMZN. While Netflix shares have returned 28.7% year to date, shares of Amazon and Apple have returned 50% and 32.5%, respectively, on a year-to-date basis.
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It is leveraging games to keep users engaged on its platform amid intensifying competition from the likes of Disney DIS, Apple AAPL and Amazon AMZN. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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13426.0
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2023-09-27 00:00:00 UTC
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Nasdaq Futures Climb as Bond Yields Retreat From Decade Highs, Micron Earnings on Tap
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AAPL
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https://www.nasdaq.com/articles/nasdaq-futures-climb-as-bond-yields-retreat-from-decade-highs-micron-earnings-on-tap
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December Nasdaq 100 E-Mini futures (NQZ23) are trending up +0.44% this morning as U.S. Treasury yields slipped from decade highs, while investors braced for a new round of economic data as well as an earnings report from chip maker Micron Technology.
In Tuesday’s trading session, the benchmark S&P 500, the blue-chip Dow, and the tech-heavy Nasdaq 100 dropped to 3-1/2 month lows. Cintas Corporation (CTAS) plunged over -5% and was the top percentage loser on the S&P 500 after the provider of workplace uniforms posted Q1 revenue that was in line with analysts’ estimates. Also, mega-cap growth stocks retreated, with Apple Inc (AAPL) falling more than -2% and Alphabet Inc (GOOGL) dropping over -1%. In addition, Amazon.com Inc (AMZN) slumped about -4% after the U.S. Federal Trade Commission filed its long-anticipated antitrust lawsuit against the online retailer. On the bullish side, DraftKings Inc (DKNG) rose over +2% after JPMorgan upgraded the stock to Overweight from Neutral.
Economic data on Tuesday showed the U.S. CB consumer confidence index dipped to a 4-month low of 103.0 in September, lower than the consensus figure of 105.5. Also, U.S. August new home sales fell to a 5-month low of 675K, weaker than expectations of 700K. In addition, the U.S. S&P/CS HPI composite - 20 n.s.a. unexpectedly rose +0.1% y/y in July, stronger than expectations of -0.3% y/y.
“Investors are beginning to realize that a ‘higher for longer’ interest rate environment is a likely outcome and are slowly adjusting to the ‘new normal. Higher-for-longer has been the mantra of the Fed for a few months. It is only recently that the markets have been taking them at their word,” Paul Nolte, a senior wealth manager at Murphy & Sylvest Wealth Management, wrote in a note.
U.S. rate futures have priced in a 19.5% probability of a 25 basis point rate increase at the November meeting and a 31.9% chance of a 25 basis point rate hike at the December meeting.
Meanwhile, Senate Democratic and Republican leaders Tuesday introduced their own bill that would keep the government open through mid-November and provide $6 billion in assistance to Ukraine. However, the plan to prevent a shutdown on October 1st still needs to overcome gridlock in the House.
On the earnings front, notable companies like Micron (MU), Paychex (PAYX), and Jefferies Financial (JEF) are slated to release their quarterly results today.
Today, all eyes are focused on U.S. Core Durable Goods Orders data in a couple of hours. Economists, on average, forecast that August Core Durable Goods Orders will stand at +0.1% m/m, compared to the previous value of +0.5% m/m.
Also, investors are likely to focus on U.S. Durable Goods Orders data, which came in at -5.2% m/m in July. Economists foresee the August figure to be -0.5% m/m.
U.S. Crude Oil Inventories data will be reported today as well. Economists estimate this figure to be -1.320M, compared to last week’s value of -2.135M.
In the bond markets, United States 10-year rates are at 4.504%, down -1.30%.
The Euro Stoxx 50 futures are up +0.36% this morning, following four consecutive sessions of losses. Technology and energy stocks gained ground on Wednesday, while insurance stocks underperformed. According to a survey conducted by the GfK institute, German consumer sentiment is expected to decline in October, as consumers lean towards saving rather than spending amid a gloomy economic picture. In corporate news, H & M Hennes & Mauritz Ab (HMB.S.DX) climbed over +3% after the world’s second-largest fashion retailer posted a slightly bigger-than-expected increase in its quarterly profit, attributed to effective cost-cutting measures.
Germany’s GfK Consumer Climate and France’s Consumer Confidence data were released today.
The German October GfK Consumer Climate stood at -26.5, weaker than expectations of -26.0.
The French September Consumer Confidence came in at 83, weaker than expectations of 84.
Asian stock markets today settled in the green. China’s Shanghai Composite Index (SHCOMP) closed up +0.16%, and Japan’s Nikkei 225 Stock Index (NIK) closed up +0.18%.
China’s Shanghai Composite today closed higher as positive industrial profits data and the central bank’s vow to support the economic recovery boosted investor sentiment. The People’s Bank of China announced its intention to step up policy adjustments and implement monetary policy in a “precise and forceful” manner to bolster an economy whose recovery was improving with “increasing momentum.” Official data showed on Wednesday that Chinese industrial profits experienced a year-on-year increase of 17.2% in August, marking the first increase in over a year and providing additional evidence of economic stabilization. Meanwhile, foreign investors bought a net 1.8 billion yuan worth of Chinese stocks through the Stock Connect program on Wednesday. On the negative side, Hong Kong-listed property stocks declined for a third day, with CIFI Holdings Group Co Ltd tumbling over -58% after resuming trading following a six-month break. Also, China Evergrande Group plunged about -19% after Bloomberg News reported that the company’s chairman, Hui Ka Yan, had been placed under police surveillance.
Japan’s Nikkei 225 Stock Index closed higher today, rebounding from a 1-month low as investors scooped up stocks to secure rights for dividend payouts that were set to expire after the trading session. Healthcare stocks outperformed on Wednesday, with Chugai Pharmaceutical Co Ltd climbing about +4% and Daiichi Sankyo Co Ltd rising more than +3%. Technology stocks also gained ground. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed down -0.55% to 18.12.
“The market tracked Wall Street’s declines earlier in the session, but investors bought shares to get rights for dividend payouts, which pushed the market higher,” said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.
Pre-Market U.S. Stock Movers
Costco Wholesale Corp (COST) fell about -2% in pre-market trading despite the company posting Q4 results that exceeded expectations.
ChargePoint Holdings Inc (CHPT) rose over +3% in pre-market trading after UBS initiated coverage of the stock with a Buy rating.
Galecto Inc (GLTO) surged about +30% in pre-market trading after the company announced it would reduce its workforce by about 70% and explore potential strategic alternatives.
Cardiff Oncology Inc (CRDF) soared more than +32% in pre-market trading after releasing phase 2 data on metastatic pancreatic ductal adenocarcinoma candidate onvansertib.
DocuSign Inc (DOCU) gained over +1% in pre-market trading after HSBC upgraded the stock to Hold from Reduce.
Zions Bancorporation (ZION) fell more than -1% in pre-market trading after Morgan Stanley downgraded the stock to Underweight from Equal Weight.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Wednesday - September 27th
Micron (MU), Paychex (PAYX), Jefferies Financial (JEF), Concentrix (CNXC), H B Fuller (FUL), Worthington Industries (WOR), Duckhorn Portfolio (NAPA), Comtech (CMTL), Sangoma Technologies (SANG).
More Stock Market News from Barchart
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2 NYSE Stocks to Buy Hitting 52-Week Highs on Tuesday
Buy This Mining Stock Now for the Inevitable Copper Shortage
Palo Alto Networks and 2 More Growth Stocks to Buy on the Dip
On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Also, mega-cap growth stocks retreated, with Apple Inc (AAPL) falling more than -2% and Alphabet Inc (GOOGL) dropping over -1%. December Nasdaq 100 E-Mini futures (NQZ23) are trending up +0.44% this morning as U.S. Treasury yields slipped from decade highs, while investors braced for a new round of economic data as well as an earnings report from chip maker Micron Technology. In corporate news, H & M Hennes & Mauritz Ab (HMB.S.DX) climbed over +3% after the world’s second-largest fashion retailer posted a slightly bigger-than-expected increase in its quarterly profit, attributed to effective cost-cutting measures.
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Also, mega-cap growth stocks retreated, with Apple Inc (AAPL) falling more than -2% and Alphabet Inc (GOOGL) dropping over -1%. On the earnings front, notable companies like Micron (MU), Paychex (PAYX), and Jefferies Financial (JEF) are slated to release their quarterly results today. Japan’s Nikkei 225 Stock Index closed higher today, rebounding from a 1-month low as investors scooped up stocks to secure rights for dividend payouts that were set to expire after the trading session.
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Also, mega-cap growth stocks retreated, with Apple Inc (AAPL) falling more than -2% and Alphabet Inc (GOOGL) dropping over -1%. The People’s Bank of China announced its intention to step up policy adjustments and implement monetary policy in a “precise and forceful” manner to bolster an economy whose recovery was improving with “increasing momentum.” Official data showed on Wednesday that Chinese industrial profits experienced a year-on-year increase of 17.2% in August, marking the first increase in over a year and providing additional evidence of economic stabilization. Japan’s Nikkei 225 Stock Index closed higher today, rebounding from a 1-month low as investors scooped up stocks to secure rights for dividend payouts that were set to expire after the trading session.
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Also, mega-cap growth stocks retreated, with Apple Inc (AAPL) falling more than -2% and Alphabet Inc (GOOGL) dropping over -1%. Economic data on Tuesday showed the U.S. CB consumer confidence index dipped to a 4-month low of 103.0 in September, lower than the consensus figure of 105.5. Pre-Market U.S. Stock Movers Costco Wholesale Corp (COST) fell about -2% in pre-market trading despite the company posting Q4 results that exceeded expectations.
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13427.0
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2023-09-27 00:00:00 UTC
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Big Tech Titans Feel the Chill as AI Stocks Slide
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AAPL
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https://www.nasdaq.com/articles/big-tech-titans-feel-the-chill-as-ai-stocks-slide
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nan
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nan
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You only need to look at the one-month decline in AI chip powerhouse Nvidia Corp. (NASDAQ: NVDA) to understand that something has changed. Is Nvidia's pullback a sign that the AI rally that fueled big tech sector gains is taking a breather as interest rates rise?
After advancing as much as 244% this year, Nvidia stock is down 8.24% in the past month.
Several of the big tech sector gainers rallied on the potential of AI, and are among the S&P 500 companies with the best 2023 returns. Those stocks amount to a lineup of the usual suspects Microsoft Corp. (NASDAQ: MSFT), Amazon.com Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL) and Meta Platforms Inc. (NASDAQ: META), while also including chipmakers Broadcom Inc. (NASDAQ: AVGO), Intel Corp. (NASDAQ: INTC) and Advanced Micro Devices Inc. (NASDAQ: AMD).
In general, the tech sector is having a rough time lately.
Big Techs All Showing Weakness
The Technology Select Sector SPDR Fund (NYSEARCA: XLK) has posted a 6.95% month-to-date decline, the largest since December. In fact, the sector ETF has finished with gains in six months of this year, so the downward trend is notable.
In the past month, all the sector's most heavily weighted stocks, Apple Inc. (NASDAQ: AAPL), Microsoft, Nvidia, Broadcom, and Adobe Inc. (NASDAQ: ADBE) are all showing one-month declines of 1.42% or more. Drilling down even further, the 11 most heavily weighted S&P tech stocks are all showing monthly declines, which explains the poor sector performance.
On a one-month basis, the tech sector is underperforming the broader S&P 500.
So what's the takeaway here?
Two Factors Forcing Tech Drawdowns
Two things appear to be happening simultaneously, both of which are affecting tech and AI-related stocks.
First, the thrill of any-and-all-things AI is gone.
According to data compiled by Reuters, the terms "AI" or "artificial intelligence" were mentioned 827 times on 76 earnings calls in the weeks leading up to August 1. Although companies are in the process of deploying AI-related applications and want to inform investors, some of those mentions may have an element of jumping on a popular bandwagon to boost the stock's price.
Regardless, investors seem to be demanding proof of AI-generated revenue rather than vague mentions of future potential.
For example, Palantir Technologies Inc. (NYSE: PLTR) got a boost in late July and early August after an analyst asserted that the data analytics specialist was an undiscovered AI gem.
Investors Want Results, Not Vague Promises
However, Palantir stock ended the month of August down 24.50%, as investors became weary of comments such as that of Palantir CEO Alex Karp in the most recent earnings report.
"We will figure out how to monetize it," Karp said, referring to AI.
The second thing that is battering tech stocks is a renewed belief that the Federal Reserve is not done raising interest rates.
High interest rates negatively impact tech stocks for several reasons. For starters, they increase borrowing costs for tech companies, which often rely on debt for expansion and innovation. Higher interest payments can erode profits.
Second, rising rates make bonds and other fixed-income investments more attractive, drawing institutional investors away from tech stocks. This can lead to a decline in tech stock prices as demand wanes.
Entering New Risk Averse Era?
Finally, high interest rates can slow overall economic growth, affecting consumer and business spending. That, in turn, leads to big investors becoming more risk-averse, reducing their appetite for volatile tech stocks.
It wasn't that long ago that cloud and cybersecurity stocks fell because investors believed businesses would slash spending on those areas in a recession.
Those stocks since bounced back but are once again under selling pressure.
The era of AI is just getting underway, so it's way too early to say 2023's AI mania was a bubble that will never be repeated. However, we may see the beginning of normalization when it comes to investor valuation of stocks simply because they have some sort of AI exposure.
One reason for the continued optimism about Nvidia, which is expected to grow earnings by 187% this year, is that the chipmaker is actually shipping products that are training AI models in customers' data stacks.
That's more that can be said for companies simply mentioning AI in their earnings calls without having any monetization strategy because they knew it would catch attention.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the past month, all the sector's most heavily weighted stocks, Apple Inc. (NASDAQ: AAPL), Microsoft, Nvidia, Broadcom, and Adobe Inc. (NASDAQ: ADBE) are all showing one-month declines of 1.42% or more. Big Techs All Showing Weakness The Technology Select Sector SPDR Fund (NYSEARCA: XLK) has posted a 6.95% month-to-date decline, the largest since December. For example, Palantir Technologies Inc. (NYSE: PLTR) got a boost in late July and early August after an analyst asserted that the data analytics specialist was an undiscovered AI gem.
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In the past month, all the sector's most heavily weighted stocks, Apple Inc. (NASDAQ: AAPL), Microsoft, Nvidia, Broadcom, and Adobe Inc. (NASDAQ: ADBE) are all showing one-month declines of 1.42% or more. Is Nvidia's pullback a sign that the AI rally that fueled big tech sector gains is taking a breather as interest rates rise? Those stocks amount to a lineup of the usual suspects Microsoft Corp. (NASDAQ: MSFT), Amazon.com Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL) and Meta Platforms Inc. (NASDAQ: META), while also including chipmakers Broadcom Inc. (NASDAQ: AVGO), Intel Corp. (NASDAQ: INTC) and Advanced Micro Devices Inc. (NASDAQ: AMD).
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In the past month, all the sector's most heavily weighted stocks, Apple Inc. (NASDAQ: AAPL), Microsoft, Nvidia, Broadcom, and Adobe Inc. (NASDAQ: ADBE) are all showing one-month declines of 1.42% or more. Is Nvidia's pullback a sign that the AI rally that fueled big tech sector gains is taking a breather as interest rates rise? Those stocks amount to a lineup of the usual suspects Microsoft Corp. (NASDAQ: MSFT), Amazon.com Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL) and Meta Platforms Inc. (NASDAQ: META), while also including chipmakers Broadcom Inc. (NASDAQ: AVGO), Intel Corp. (NASDAQ: INTC) and Advanced Micro Devices Inc. (NASDAQ: AMD).
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In the past month, all the sector's most heavily weighted stocks, Apple Inc. (NASDAQ: AAPL), Microsoft, Nvidia, Broadcom, and Adobe Inc. (NASDAQ: ADBE) are all showing one-month declines of 1.42% or more. Is Nvidia's pullback a sign that the AI rally that fueled big tech sector gains is taking a breather as interest rates rise? According to data compiled by Reuters, the terms "AI" or "artificial intelligence" were mentioned 827 times on 76 earnings calls in the weeks leading up to August 1.
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13428.0
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2023-09-27 00:00:00 UTC
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COLUMN-'Unknown unknowns' unnerving markets for Q4
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AAPL
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https://www.nasdaq.com/articles/column-unknown-unknowns-unnerving-markets-for-q4-0
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nan
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nan
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By Mike Dolan
LONDON, Sept 27 (Reuters) - Call it seasonal blues, poor positioning or a nagging anxiety about being wrong-footed, but wavering world stock markets appear to many to be uncomfortably prone to a left field hit.
It doesn't take a sleuth to spot a whole heap of macro event risks out there - or that the financial universe is not best priced for those as it heads for the final quarter of 2023.
Another U.S. government shutdown hoves into view this week with 2024's White House election now on the horizon, threatening sovereign credit ratings just as markets struggle to absorb mounting debt sales and the Federal Reserve's balance sheet rundown removes it from the fray.
And a smouldering Chinese property bust and increasingly rancorous geopolitics darken the global economic outlook just as an oil price rebound spurs headline inflation rates still well above targets - a development that could well force the Fed and other central banks to hold credit tighter and for longer than many have bet.
And yet, until this week's shakeout at least, implied volatility gauges across stock, bond and currency markets had been subsiding to their lowest in years.
Only 10 days ago, the VIX one-month gauge of implied S&P500 volatility .VIX recorded its lowest close since the COVID-19 pandemic first hit three years ago. The equivalent MOVE index of one-month Treasury bond volatility .MOVE touched its lowest since before the Fed first raised rates in March 2022 and exchange rate volatility captured by the CVIX .CBCVIX have again hovered around those pre-tightening levels since mid-year.
The most basic reasoning is that investors have finally been dragged kicking and screaming from hugely defensive investment positions into an assumption of a soft U.S. economic landing along with what's been sarcastically dubbed an "immaculate disinflation".
Confounded by this year's additional fillip from the artificial intelligence craze that added juice to mega cap tech stocks and flattered double-digit gains in the main benchmarks, an element of FOMO - or fear of missing out - has emerged too.
The change of heart came drip-by-drip with every month's economic data - the U.S. economy and labour market had simply not yet rolled over after 18 months of swingeing Fed rate hikes and as inflation more than halved.
And after three quarters of oddly poor positioning -underweight equity and overweight bonds and cash - the worm had turned in portfolios by September.
The soft landing bit at least is now overwhelmingly consensus thinking, according to asset manager surveys. Many investors have removed underweight equity positions, some even chasing the tech-led U.S. market higher and doubling down on bonds to catch a "peak interest rate" moment to boot.
And few have seemed minded to hedge those new positions in options markets, perhaps convinced the untypical correlation of stock and bonds losses of the last couple of years would reverse to protect portfolios in a clear run to year-end.
The continued positive correlation of equity and bond market losses this week, however, will have unnerved the herd again - not least because a fresh surge in bond yields hits that narrow tech-led group the hardest.
CONCENTRATION RISK AND TRIGGERS
And yet most of the macro economic or earnings risks still seem in plain sight. Few can surely be unfocussed on central bank policy, economic activity and politics - the "known unknowns" in the parlance of former U.S. defence secretary Donald Rumsfeld.
What worries some now is what Melissa Brown, managing director of applied research at quantitative research firm Qontigo, fears are the "unknown unknowns" embedded in stock and index performance.
To highlight this, she shows a rising "risk spread" between fundamental models of risk - based on observable earnings projections and individual company or sectoral drivers - and statistical models derived from market pricing and dynamics.
That spread - which shows the statistical model predicting a higher risk than the fundamental analysis - returned earlier this year to peaks not seen since April 2009. Although it's off its highs since, it remains well above averages for the 40-year series.
"We believe this indicates that the statistical models may be 'seeing' a risk not captured by our fundamental models," Brown wrote. "Could it be 'concentration risk'?"
Brown posits that it may be concentration of portfolios in the narrow leadership of so-called "magnificent seven" leading U.S. stocks - Apple, Microsoft, Amazon, Alphabet, Meta, Tesla and Nvidia - and the wider index implications of a shock in any one of them that is now a possible curveball.
Hedge funds held record exposure to these seven stocks last month, according to Goldman Sachs, and they made up about 20% of the total net market value held by hedge funds it tracked.
Along with sky-high valuations and a "crowding factor" that has many investors chasing the same names, red flags are flying - and yet without an obvious identifiable trigger.
"The prolonged low volatility period since late April has resulted in a higher-than-prudent willingness to speculate in the market, which manifests itself through concentrated portfolios and a lack of downside risk protection," Brown concludes.
"As both the macro and geopolitical environment remain unpredictable, the probability of a risk event trigger remains larger than normal."
And yet for others, not least due to the overwhelming about-face in consensus this year and also the wobble this week, the simplest trigger for a shakeout may just be recession after all.
"Recession risk remains material and is higher than what the markets are pricing in," Shamik Dhar, Chief Economist at BNY Mellon IM told clients this week. "Whilst 'recession fatigue' from a downturn that never seems to arrive is understandable, this fatigue is not an excuse to abandon the data and adopt an investment strategy of hope."
The fuzzy radar screen may make for a rough final quarter.
The opinions expressed here are those of the author, a columnist for Reuters
Subdued volatility gauges stir again https://tmsnrt.rs/3ZMRMit
'Magnificent Seven' US mega caps vs US 10-year Treasury yields https://tmsnrt.rs/4575P3a
Qontigo chart on elevated 'risk spread' https://tmsnrt.rs/3RvIvsQ
Yield curves disinverting? https://tmsnrt.rs/3RtDQro
Wall St index performance over the past year https://tmsnrt.rs/3t5dgL4
(Editing by Alex Richardson)
((mike.dolan@thomsonreuters.com; +44 207 542 8488; Reuters Messaging: mike.dolan.reuters.com@thomsonreuters.net @))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Another U.S. government shutdown hoves into view this week with 2024's White House election now on the horizon, threatening sovereign credit ratings just as markets struggle to absorb mounting debt sales and the Federal Reserve's balance sheet rundown removes it from the fray. And a smouldering Chinese property bust and increasingly rancorous geopolitics darken the global economic outlook just as an oil price rebound spurs headline inflation rates still well above targets - a development that could well force the Fed and other central banks to hold credit tighter and for longer than many have bet. Confounded by this year's additional fillip from the artificial intelligence craze that added juice to mega cap tech stocks and flattered double-digit gains in the main benchmarks, an element of FOMO - or fear of missing out - has emerged too.
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And yet, until this week's shakeout at least, implied volatility gauges across stock, bond and currency markets had been subsiding to their lowest in years. What worries some now is what Melissa Brown, managing director of applied research at quantitative research firm Qontigo, fears are the "unknown unknowns" embedded in stock and index performance. The opinions expressed here are those of the author, a columnist for Reuters Subdued volatility gauges stir again https://tmsnrt.rs/3ZMRMit 'Magnificent Seven' US mega caps vs US 10-year Treasury yields https://tmsnrt.rs/4575P3a Qontigo chart on elevated 'risk spread' https://tmsnrt.rs/3RvIvsQ Yield curves disinverting?
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And yet, until this week's shakeout at least, implied volatility gauges across stock, bond and currency markets had been subsiding to their lowest in years. And few have seemed minded to hedge those new positions in options markets, perhaps convinced the untypical correlation of stock and bonds losses of the last couple of years would reverse to protect portfolios in a clear run to year-end. To highlight this, she shows a rising "risk spread" between fundamental models of risk - based on observable earnings projections and individual company or sectoral drivers - and statistical models derived from market pricing and dynamics.
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And yet, until this week's shakeout at least, implied volatility gauges across stock, bond and currency markets had been subsiding to their lowest in years. Many investors have removed underweight equity positions, some even chasing the tech-led U.S. market higher and doubling down on bonds to catch a "peak interest rate" moment to boot. "Could it be 'concentration risk'?"
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13429.0
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2023-09-27 00:00:00 UTC
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US STOCKS-Wall Street dips as Treasury yields resume uptrend
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-dips-as-treasury-yields-resume-uptrend
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nan
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nan
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By Ankika Biswas and Shashwat Chauhan
Sept 27 (Reuters) - Wall Street's main indexes slipped in choppy trading on Wednesdayas Treasury yields rose modestly, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's monetary policy outlook.
The 10-year Treasury yields US10YT=RRreversed course to scale a fresh 16-year high, weighing on megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Amazon.com AMZN.O, down between 0.5% and 1.3%.
The energy sector .SPNY was the top performer among the major S&P 500 sectors, with an over 2% advance on a surge in crude oil prices that remains as a threat to inflation.
Also adding pressure was data showing orders for long-lasting U.S. manufactured goods unexpectedly rose in August and signs of business spending on equipment regaining some momentum.
"Concern is that the economy is still doing okay, but we need to see some weakness to give interest rates a reason to peak and so far, we're not seeing that," said Paul Nolte, market strategist at Murphy & Sylvest Wealth Management.
At 12:17 p.m. ET, the Dow Jones Industrial Average .DJI was down 194.92 points, or 0.58%, at 33,423.96, the S&P 500 .SPX was down 19.96 points, or 0.47%, at 4,253.57, and the Nasdaq Composite .IXIC was down 52.34 points, or 0.40%, at 13,011.27.
However, the small-cap Russell 2000 index .RUT outperformed the benchmark indexes with a 0.9% jump.
The S&P 500 and the Nasdaq are set for their worst monthly showing so far this year, with investors wrestling with the prospects for a long period of high interest rates and an economic fallout.
All the three indexes, including the Dow, are eyeing their first quarterly decline in 2023.
"In order to get a better equity market, we need to see equity prices go down even more to provide some good value that investors can step into," Nolte added.
For the rest of the week, investors will monitor second-quarter GDP and the monthly personal consumption expenditures price index data, along with Federal Reserve Chair Jerome Powell's remarks.
Traders' bets on the benchmark rate remaining unchanged in November and December stood around 74% and 59%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 31% in June and July.
Meanwhile, the U.S. Senate on Tuesday took a step forward on a bipartisan bill to stop a government shutdown on Sunday, while the House sought to push ahead with a Republican-backed measure. Wall Street's top regulator told U.S. lawmakers that a shutdown would reduce his agency's staffing to "skeletal" levels.
Costco WholesaleCOST.O gained 1.2% after posting better-than-expected quarterly revenue and profit on Tuesday.
MattelMAT.O rose 3.5% after Morgan Stanley initiated coverage on shares of the maker of Uno playing cards with an "overweight" rating.
Advancing issues outnumbered decliners by a 1.02-to-1 ratio on the NYSE and 1.15-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and 43 new lows, while the Nasdaq recorded 24 new highs and 179 new lows.
(Reporting by Ankika Biswas, Shashwat Chauhan and Amruta Khandekar in Bengaluru; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The 10-year Treasury yields US10YT=RRreversed course to scale a fresh 16-year high, weighing on megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Amazon.com AMZN.O, down between 0.5% and 1.3%. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - Wall Street's main indexes slipped in choppy trading on Wednesdayas Treasury yields rose modestly, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's monetary policy outlook. Also adding pressure was data showing orders for long-lasting U.S. manufactured goods unexpectedly rose in August and signs of business spending on equipment regaining some momentum.
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The 10-year Treasury yields US10YT=RRreversed course to scale a fresh 16-year high, weighing on megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Amazon.com AMZN.O, down between 0.5% and 1.3%. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - Wall Street's main indexes slipped in choppy trading on Wednesdayas Treasury yields rose modestly, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's monetary policy outlook. The S&P index recorded no new 52-week high and 43 new lows, while the Nasdaq recorded 24 new highs and 179 new lows.
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The 10-year Treasury yields US10YT=RRreversed course to scale a fresh 16-year high, weighing on megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Amazon.com AMZN.O, down between 0.5% and 1.3%. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - Wall Street's main indexes slipped in choppy trading on Wednesdayas Treasury yields rose modestly, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's monetary policy outlook. The S&P 500 and the Nasdaq are set for their worst monthly showing so far this year, with investors wrestling with the prospects for a long period of high interest rates and an economic fallout.
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The 10-year Treasury yields US10YT=RRreversed course to scale a fresh 16-year high, weighing on megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Amazon.com AMZN.O, down between 0.5% and 1.3%. By Ankika Biswas and Shashwat Chauhan Sept 27 (Reuters) - Wall Street's main indexes slipped in choppy trading on Wednesdayas Treasury yields rose modestly, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the Federal Reserve's monetary policy outlook. All the three indexes, including the Dow, are eyeing their first quarterly decline in 2023.
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13430.0
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2023-09-27 00:00:00 UTC
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Warren Buffett Is Selling Shares of This High-Yield Dividend Stock and, Likely, Buying Shares of His Favorite Stock (No, Not Apple!)
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AAPL
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https://www.nasdaq.com/articles/warren-buffett-is-selling-shares-of-this-high-yield-dividend-stock-and-likely-buying
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nan
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nan
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Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett has a knack for making his long-term shareholders notably richer. Since becoming CEO in 1965, the Oracle of Omaha, as he's affably known, has overseen a greater than 4,400,000% return in his company's Class A shares (BRK.A). This works out to a nearly 20% annualized return over 58 years.
Even though Buffett is wrong from time to time, mirroring his buying and selling activity has been profitable for over half a century. Between required quarterly 13F filings with the Securities and Exchange Commission (SEC) and SEC filings for select larger holdings, riding Buffett's coattails is easier than ever.
Based on recent SEC filings, investors have learned that Buffett is selling shares of one of his prized high-yield dividend stocks. At the same time, he's probably continuing to buy shares of his favorite stock -- and no, I'm not talking about tech behemoth Apple (NASDAQ: AAPL).
Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.
Is this high-yield dividend stock on Buffett's chopping block?
In addition to filing quarterly 13Fs with the SEC, anytime Berkshire Hathaway adds to or reduces its position in a company where it holds a 10% or greater stake, it's required to file Form 4 with the SEC. That's exactly what happened between Sept. 11 and Sept. 13, as well as Sept. 20 through Sept. 22, when Buffett's company pared down its existing stake in personal-computing and printing services company HP (NYSE: HPQ).
According to the separate Form 4 filings, Berkshire Hathaway sold an aggregate of 10,290,644 shares of HP over a two-week stretch. Following these sales, Buffett's company still holds about 110.66 million shares of HP, equating to a hearty 11.2% stake in the company that's worth close to $3 billion. In other words, this nearly 4%-yielding dividend stock still represents a notable portion of Berkshire Hathaway's $347 billion portfolio.
The important question is: Why is Buffett selling shares of HP?
Having tracked Warren Buffett's buying and selling activities for as long as I have, my first instinct was to check HP's share repurchase activity. The Oracle of Omaha is a huge fan of businesses that regularly buy back their stock and increase Berkshire Hathaway's ownership stake without him or his investment team having to lift a finger. In the past, Buffett has had to modestly pare back his holdings in other businesses (mostly bank stocks) as Berkshire's stake has grown via share repurchases.
However, HP's buyback activity has slowed dramatically in fiscal 2023. After outlaying $3.547 billion for buybacks in the nine months ended July 31, 2022, HP has only bought back $100 million worth of its shares thus far in the current fiscal year (as of July 31, 2023). In short, Buffett isn't selling HP for this benign reason.
While it is possible that Buffett's investing lieutenants, Ted Weschler and Todd Combs, persuaded the Oracle of Omaha to modestly pare down Berkshire's stake in HP for other initiatives, the far likelier reason for this modest reduction is that Buffett and his team simply didn't like what they saw from HP's fiscal third-quarter operating results.
Even though Warren Buffett loves a good value stock and has a long-term mindset, HP's quarterly report was disappointing. HP President and CEO Enrique Lores commented that "the external environment has not improved as quickly as anticipated and we are moderating our expectations as a result." In simpler terms, PC sales and printing service needs remain weak and likely to stay that way for a while.
Despite offering one heck of a value proposition (a forward price-to-earnings ratio of 8) and a nearly 4% yield, HP's lack of sustained growth and the need to reduce its long-term debt to improve its financial flexibility may have removed the luster this company once had in Warren Buffett's eyes. I wouldn't be all that surprised to see additional sales of HP from Berkshire Hathaway in the weeks, months, and quarters to come.
Image source: Getty Images.
Warren Buffett is likely buying his favorite stock
On the other hand, it's very likely that Warren Buffett has been buying his favorite stock since this quarter began on July 1.
Although the Oracle of Omaha referred to Apple as "a better business than any we own" during Berkshire Hathaway's annual shareholder meeting in May, and Apple represents an otherworldly 46% of his company's $347 billion of invested assets, it's not his favorite company to buy. That title goes to a company even nearer and dearer to the Oracle of Omaha's heart...his own.
Prior to mid-July 2018, Warren Buffett and executive vice chairman Charlie Munger were only able to repurchase shares of Berkshire Hathaway if they fell to or below 120% of book value (i.e., no more than 20% above book value). The problem is that shares of the company pretty consistently traded between 130% and 160% of book value for more than a half-decade, leading to no buybacks.
On July 17, 2018, Berkshire's board passed new measures that got their dynamic duo off the proverbial bench and into the game. Under the new criteria, as long as Berkshire Hathaway has at least $30 billion in cash, cash equivalents, and U.S. Treasuries on its balance sheet and Buffett and Munger agree that their company's stock is intrinsically cheap, repurchases can be made with no cap.
Since mid-July 2018, Buffett and Munger have OK'd the repurchase of more than $71 billion worth of Berkshire Hathaway stock, almost twice as much as Buffett's company has spent buying shares of Apple since the start of 2016. Further, Berkshire's dynamic duo has bought back Berkshire stock in all 20 quarters since the amendments governing buybacks were changed. While Berkshire isn't cheap at 147% of its book value (as of Sept. 21, 2023), it's also not outside its historic valuation norm. This means some level of stock repurchases are almost certainly being made.
As a reminder, stock buybacks can have a positive fundamental impact on Berkshire Hathaway. For companies with steady or growing net income (like Berkshire Hathaway), buybacks have the ability to increase earnings per share over time. This should help Berkshire Hathaway's stock look even more attractive to fundamentally focused value seekers.
Though we'll have to wait till mid-November to get the full rundown of what the Oracle of Omaha has been buying and selling, there's an above-average probability that Berkshire Hathaway stock has been on his buy list.
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At the same time, he's probably continuing to buy shares of his favorite stock -- and no, I'm not talking about tech behemoth Apple (NASDAQ: AAPL). The Oracle of Omaha is a huge fan of businesses that regularly buy back their stock and increase Berkshire Hathaway's ownership stake without him or his investment team having to lift a finger. HP President and CEO Enrique Lores commented that "the external environment has not improved as quickly as anticipated and we are moderating our expectations as a result."
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At the same time, he's probably continuing to buy shares of his favorite stock -- and no, I'm not talking about tech behemoth Apple (NASDAQ: AAPL). Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett has a knack for making his long-term shareholders notably richer. In addition to filing quarterly 13Fs with the SEC, anytime Berkshire Hathaway adds to or reduces its position in a company where it holds a 10% or greater stake, it's required to file Form 4 with the SEC.
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At the same time, he's probably continuing to buy shares of his favorite stock -- and no, I'm not talking about tech behemoth Apple (NASDAQ: AAPL). While it is possible that Buffett's investing lieutenants, Ted Weschler and Todd Combs, persuaded the Oracle of Omaha to modestly pare down Berkshire's stake in HP for other initiatives, the far likelier reason for this modest reduction is that Buffett and his team simply didn't like what they saw from HP's fiscal third-quarter operating results. Warren Buffett is likely buying his favorite stock On the other hand, it's very likely that Warren Buffett has been buying his favorite stock since this quarter began on July 1.
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At the same time, he's probably continuing to buy shares of his favorite stock -- and no, I'm not talking about tech behemoth Apple (NASDAQ: AAPL). Having tracked Warren Buffett's buying and selling activities for as long as I have, my first instinct was to check HP's share repurchase activity. Although the Oracle of Omaha referred to Apple as "a better business than any we own" during Berkshire Hathaway's annual shareholder meeting in May, and Apple represents an otherworldly 46% of his company's $347 billion of invested assets, it's not his favorite company to buy.
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13431.0
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2023-09-27 00:00:00 UTC
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US STOCKS-Futures bounce back after Wall Street rout
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-bounce-back-after-wall-street-rout
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Futures up: Dow 0.32%, S&P 0.42%, Nasdaq 0.41%
Sept 27 (Reuters) - U.S. stock index futures rebounded on Wednesday as retreating Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the outlook for Federal Reserve's monetary policy.
A pullback in the 10-year Treasury yields US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Alphabet GOOGL.O, up between 0.4% and 0.6%, in premarket trading.
Amazon.com AMZN.O edged 0.2% higher after Tuesday's sell-off following the U.S. Federal Trade Commission's antitrust lawsuit against the online retailer.
At 5:28 a.m. ET, Dow e-minis 1YMcv1 were up 108 points, or 0.32%, S&P 500 e-minis EScv1 were up 18 points, or 0.42%, and Nasdaq 100 e-minis NQcv1 were up 61 points, or 0.41%.
All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
However, markets are bracing for some more volatility, with policymakers projecting elevated rates until the end of 2024, boosting Treasury yields, which are sensitive to interest rate expectations and seen as risk-free due to government backing.
The S&P 500 .SPX and the Nasdaq .IXIC are set for their worst monthly showing so far this year, while all the three indexes including the Dow .DJI are eyeing their first quarterly decline in 2023.
Meanwhile, data also showed declines in China's industrial profits were easing on the back of policy support, while the central bank also vowed to bolster economic recovery.
Investors also looked forward to durable good data for August, due at 8:30 a.m. ET, and second-quarter GDP and monthly personal consumption expenditures price index through the week, with Federal Reserve Chair Jerome Powell's remarks also on tap.
Traders' bets on the benchmark rate remaining unchanged in November and December stood around 81% and 64%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 34% in June and July.
On the political front, the U.S. Senate on Tuesday took a step forward on a bipartisan bill to stop a government shutdown on Sunday, while the House sought to push ahead with a Republican-backed measure. The current partisan gridlock has begun to darken Wall Street's view of U.S. government credit.
Among single stocks, Rivian Automotive RIVN.O gained 1.8% on plans to use subscription models for monetizing various features in cars.
(Reporting by Ankika Biswas in Bengaluru; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A pullback in the 10-year Treasury yields US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Alphabet GOOGL.O, up between 0.4% and 0.6%, in premarket trading. Meanwhile, data also showed declines in China's industrial profits were easing on the back of policy support, while the central bank also vowed to bolster economic recovery. ET, and second-quarter GDP and monthly personal consumption expenditures price index through the week, with Federal Reserve Chair Jerome Powell's remarks also on tap.
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A pullback in the 10-year Treasury yields US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Alphabet GOOGL.O, up between 0.4% and 0.6%, in premarket trading. Futures up: Dow 0.32%, S&P 0.42%, Nasdaq 0.41% Sept 27 (Reuters) - U.S. stock index futures rebounded on Wednesday as retreating Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the outlook for Federal Reserve's monetary policy. ET, Dow e-minis 1YMcv1 were up 108 points, or 0.32%, S&P 500 e-minis EScv1 were up 18 points, or 0.42%, and Nasdaq 100 e-minis NQcv1 were up 61 points, or 0.41%.
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A pullback in the 10-year Treasury yields US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Alphabet GOOGL.O, up between 0.4% and 0.6%, in premarket trading. Futures up: Dow 0.32%, S&P 0.42%, Nasdaq 0.41% Sept 27 (Reuters) - U.S. stock index futures rebounded on Wednesday as retreating Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the outlook for Federal Reserve's monetary policy. All the three major stock indexes closed over 1% lower on Tuesday as 10-year Treasury yields held their multi-year highs, with investors wrestling with prospects for a long period of high interest rates and an economic fallout.
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A pullback in the 10-year Treasury yields US10YT=RR provided some relief to megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Alphabet GOOGL.O, up between 0.4% and 0.6%, in premarket trading. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Futures up: Dow 0.32%, S&P 0.42%, Nasdaq 0.41% Sept 27 (Reuters) - U.S. stock index futures rebounded on Wednesday as retreating Treasury yields boosted megacaps, while investors awaited developments on a U.S. funding bill and inflation data this week to gauge the outlook for Federal Reserve's monetary policy.
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13432.0
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2023-09-26 00:00:00 UTC
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US STOCKS-Wall St slides over 1% as Treasury yields hover at 16-year peaks
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-slides-over-1-as-treasury-yields-hover-at-16-year-peaks
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By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan
Sept 26 (Reuters) - Wall Street's main indexes sank over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout.
Adding to investor anxiety was the potential of a partial U.S. governmentshutdown by the weekend, which ratings agency Moody's warned would harm the country's credit.
Benchmark 10-year Treasury yields have climbed to 16-year highs in the wake of the Federal Reserve's hawkish longer-term rate outlook last week.
Yields may trend higher until Friday's personal consumption expenditures price index gives a fresh view of the inflation picture, said Jack Janasiewicz, portfolio manager at Natixis.
"The market is still trying to digest the potential for where that 10-year rate is going to finish," Janasiewicz said. "Until we get more clarity on where the 10-year settles, then the equity market is going to be pretty nervous."
The Dow Jones Industrial Average .DJI fell 403.54 points, or 1.19%, to 33,603.34, the S&P 500 .SPX lost 60.68 points, or 1.40%, to 4,276.76 and the Nasdaq Composite .IXICdropped 197.01 points, or 1.48%, to 13,074.31.
All 11 S&P 500 sectors were lower. Rate-sensitive utilities .SPLRCU and real estate .SPLRCR sank 2.2% and 1.7%, respectively, while the heavyweight tech sector .SPLRCT dropped 1.8%.
Energy .SPNY held up best among the sectors, down 0.5%, with crude prices above the $90-per-barrel mark. However, rising energy prices represent a renewed threat to inflation, which has generally been moving down toward the Fed's 2% target.
The S&P 500 has slumped nearly 7% since late July but remains up over 11% for 2023.
Megacap stocks that have propelled indexes higher this year were mainly dragging on Tuesday. Apple AAPL.O and Microsoft MSFT.O both fell about 2%.
Amazon.com AMZN.O shares dropped 3.4% as the U.S. Federal Trade Commission filed a long awaited antitrust lawsuit against the online retailer.
Investors later in the week also will have their eyes on other data including on durable goods and second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell.
In company news, ImmunovantIMVT.O shares doubled after early-stage data from the company's experimental antibody treatment exceeded analysts' expectations.
Declining issues outnumbered advancers by a 4.8-to-1 ratio on the NYSE. There were 33 new highs and 300 new lows on the NYSE.
On the Nasdaq, declining issues outnumbered advancers by a 1.8-to-1 ratio. The Nasdaq recorded 27 new highs and 308 new lows.
(Reporting by Lewis Krauskopf in New York, Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel and Richard Chang)
((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple AAPL.O and Microsoft MSFT.O both fell about 2%. Adding to investor anxiety was the potential of a partial U.S. governmentshutdown by the weekend, which ratings agency Moody's warned would harm the country's credit. Yields may trend higher until Friday's personal consumption expenditures price index gives a fresh view of the inflation picture, said Jack Janasiewicz, portfolio manager at Natixis.
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Apple AAPL.O and Microsoft MSFT.O both fell about 2%. By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes sank over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout. Declining issues outnumbered advancers by a 4.8-to-1 ratio on the NYSE.
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Apple AAPL.O and Microsoft MSFT.O both fell about 2%. By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes sank over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout. Yields may trend higher until Friday's personal consumption expenditures price index gives a fresh view of the inflation picture, said Jack Janasiewicz, portfolio manager at Natixis.
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Apple AAPL.O and Microsoft MSFT.O both fell about 2%. By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes sank over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout. "The market is still trying to digest the potential for where that 10-year rate is going to finish," Janasiewicz said.
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13433.0
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2023-09-26 00:00:00 UTC
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Palo Alto Networks and 2 More Growth Stocks to Buy on the Dip
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AAPL
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https://www.nasdaq.com/articles/palo-alto-networks-and-2-more-growth-stocks-to-buy-on-the-dip
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The negative momentum in stocks this month might be alarming - but dollar-cost averaging is a strategy that helps investors take advantage of the underlying volatility associated with the equity markets. Since it's impossible to time the markets, it makes sense to allocate a certain portion of your capital toward buying quality stocks trading at a discount each month.
For example, in 2022, many tech stocks experienced a massive decline in valuations… before sprinting right back to historic highs during the first half of 2023. That means periods when stocks are declining, like the one we're in now, are ideal for bargain-hunting investors looking to build their portfolios.
That said, here are three growth stocks you can consider buying on the dip right now.
Palo Alto Networks
Palo Alto Networks (PANW) is part of the cybersecurity market, and is arguably among the hottest tech stocks on Wall Street. Shares of Palo Alto have surged over 1,350% in the past decade, easily outpacing the broader markets.
More recently, the tech stock is down about 12% from its July all-time highs, valuing it at a market cap of almost $70 billion.
www.barchart.com
Despite a sluggish macro environment, Palo Alto is forecast to increase sales by 18.7% year over year to $8.18 billion in fiscal 2024 (ending in July). And enterprises seem unlikely to compromise on cybersecurity expenditures, allowing Palo Alto to generate cash flows across business cycles. Moreover, its free cash flow is estimated at $3.27 billion, indicating a margin of 40%.
PANW is priced at 42x forward earnings, which might seem expensive. However, its earnings are forecast to rise by 27% annually in the next five years.
Out of the 36 analysts tracking PANW, 31 recommend “strong buy,” two recommend “moderate buy,” and three recommend “hold.” The average price target for Palo Alto Networks stock is $275.08, indicating an upside potential of 21.7% from current levels.
www.barchart.com
Shopify
Part of the e-commerce segment, Shopify (SHOP) stock is down 27% from its 52-week highs. The company is successfully building a global e-commerce operating ecosystem, and equips merchants with a portfolio of tools and capabilities to help grow their online presence.
In Q2 of 2023, Shopify increased gross merchandise volume (GMV) by 17% to $55 billion. This metric measures the total value of goods sold on an e-commerce platform. Comparatively, sales were up 31% at $1.7 billion, while operating income stood at $146 million, accounting for 9% of revenue.
Shopify has onboarded over 2 million merchants on its platform, allowing it to grow merchant solutions revenue by 35% to $1.3 billion, while subscription sales were up 21% at $444 million. The company’s monthly recurring revenue, or MRR, increased 30% to $139 million, indicating an annual run rate of $1.67 billion.
Priced at 10x forward sales, Shopify stock is somewhat expensive, despite the drawdown in share price.
www.barchart.com
However, analysts remain bullish on the Canadian e-commerce heavyweight. Out of the 37 analysts covering Shopify stock, 15 recommend “strong buy,” one recommends “moderate buy,” 20 recommend “hold,” and one recommends “strong sell.” The average price target for Shopify stock is $68.74, which is 33% above its current price.
www.barchart.com
Unity Software
The final stock on my list is Unity Software (U), which operates a platform providing real-time 3D development tools and services. Unity offers a portfolio of software-powered solutions to create, run, and monetize 2D and 3D content for multiple devices, including mobiles, tablets, consoles, PCs, and augmented and virtual reality.
Unity stock went public in late 2021, and currently trades 39% below its mid-July 52-week highs.
www.barchart.com
Earlier this year, Unity announced a partnership with Apple (AAPL) where the two companies would develop spatial reality applications for the latter’s Vision Pro headset. Priced at $3,499, Apple is expected to produce 400,000 units of the headset next year.
Unity has increased sales from $541 million in 2019 to $1.4 billion in 2022. It is on pace to end 2023 with sales of $2.2 billion, an increase of nearly 57% year over year. Plus, it is forecast to swing to earnings of $1.14 per share in 2024, improved from its loss of $0.39 per share in 2022. Priced at 27.5x forward earnings, Unity stock is trading at a discount, given its growth forecasts.
Out of the 17 analysts covering Unity stock, eight recommend “strong buy,” one recommends “moderate buy,” six recommend “hold,” one recommends “moderate sell,” and two recommend “strong sell.” The average price target for Unity is $44.43, which is over 45% higher than current levels.
www.barchart.com
On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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www.barchart.com Earlier this year, Unity announced a partnership with Apple (AAPL) where the two companies would develop spatial reality applications for the latter’s Vision Pro headset. The negative momentum in stocks this month might be alarming - but dollar-cost averaging is a strategy that helps investors take advantage of the underlying volatility associated with the equity markets. The company is successfully building a global e-commerce operating ecosystem, and equips merchants with a portfolio of tools and capabilities to help grow their online presence.
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www.barchart.com Earlier this year, Unity announced a partnership with Apple (AAPL) where the two companies would develop spatial reality applications for the latter’s Vision Pro headset. Out of the 36 analysts tracking PANW, 31 recommend “strong buy,” two recommend “moderate buy,” and three recommend “hold.” The average price target for Palo Alto Networks stock is $275.08, indicating an upside potential of 21.7% from current levels. Out of the 37 analysts covering Shopify stock, 15 recommend “strong buy,” one recommends “moderate buy,” 20 recommend “hold,” and one recommends “strong sell.” The average price target for Shopify stock is $68.74, which is 33% above its current price.
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www.barchart.com Earlier this year, Unity announced a partnership with Apple (AAPL) where the two companies would develop spatial reality applications for the latter’s Vision Pro headset. Out of the 36 analysts tracking PANW, 31 recommend “strong buy,” two recommend “moderate buy,” and three recommend “hold.” The average price target for Palo Alto Networks stock is $275.08, indicating an upside potential of 21.7% from current levels. Out of the 37 analysts covering Shopify stock, 15 recommend “strong buy,” one recommends “moderate buy,” 20 recommend “hold,” and one recommends “strong sell.” The average price target for Shopify stock is $68.74, which is 33% above its current price.
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www.barchart.com Earlier this year, Unity announced a partnership with Apple (AAPL) where the two companies would develop spatial reality applications for the latter’s Vision Pro headset. Unity stock went public in late 2021, and currently trades 39% below its mid-July 52-week highs. Unity has increased sales from $541 million in 2019 to $1.4 billion in 2022.
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13434.0
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2023-09-26 00:00:00 UTC
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Stocks Retreat on U.S. Economic Concerns
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AAPL
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https://www.nasdaq.com/articles/stocks-retreat-on-u.s.-economic-concerns
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What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -1.01%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.78%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.07%.
Stocks this morning are moderately lower, with the S&P 500 dropping to a 3-1/2 month low, the Dow Jones Industrials falling to a 3-month low, and the Nasdaq 100 sliding to a 5-week low. Concerns about the U.S. economy are weighing on stocks today after Aug new home sales fell more than expected to a 5-month low, and after the U.S. Sep consumer confidence index fell more than expected to a 4-month low.
Also, mega-cap technology stocks are falling today and weighing on the overall market on concerns that global central banks will have to keep interest rates higher for longer to combat inflation. In addition, hawkish Fed comments today are pressuring stocks after Minneapolis Fed President Kashkari said he expects the Fed will have to raise interest rates one more time this year due to strength in the U.S. economy.
China’s worsening property debt crisis remains an albatross for the global stock markets due to concern the debt crisis will derail the country’s growth prospects and drag down the global economy. China Evergrande Group said its subsidiary Hengda Real Estate Group defaulted on a 4 billion yuan ($547 million) debt payment due Monday, and Chinese authorities detained former company executives.
Minneapolis Fed President Kashkari said, "If the economy is fundamentally much stronger than we realized, on the margin that would tell me rates probably have to go a little bit higher and then be held higher for longer to cool things off."
The U.S. Jul S&P CoreLogic composite-20 home price index unexpectedly rose +0.13% y/y, the first year-on-year increase in 5 months and stronger than expectations of a -0.10% y/y decline.
U.S. Aug new home sales fell -8.7% m/m to a 5-month low of 675,000, weaker than expectations of 698,000.
The Conference Board Sep U.S. consumer confidence index fell -5.7 to a 4-month low of 103.0, weaker than expectations of 105.5.
The U.S. Sep Richmond Fed manufacturing survey rose +12 to a 17-month high of 5, stronger than expectations of no change at -7.
The markets are discounting a 23% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 48% chance for that +25 bp rate hike at the following meeting that ends on December 13. The markets are then expecting the FOMC to begin cutting rates in the second half of 2024 in response to an expected slowdown in the U.S. economy.
U.S. and European bond yields today are lower. The 10-year T-note yield fell back from a new 16-year high of 4.562% and is down -0.9 bp at 4.528%. The 10-year German bund yield fell back from a new 12-year high of 2.821% and is down -0.4 bp at 2.794%. The 10-year UK gilt yield is down -1.8 bp at 4.305%.
Overseas stock markets are lower today. The Euro Stoxx 50 is down -0.78%. China’s Shanghai Composite Index closed -0.43%. Japan’s Nikkei 225 today closed -1.11%.
Today’s stock movers…
Cintas (CTAS) is down more than -4% to lead losers in the S&P 500 and Nasdaq 100 after reporting Q2 revenue of $2.34 billion, right on expectations and disappointing some analysts who expected stronger results.
Megacap technology stocks are falling today and weighing on the overall market. Amazon.com (AMZN) is down more than -3% to lead losers in the Nasdaq 100. Also, Alphabet (GOOGL) is down more than -2%, and Apple (AAPL) is down more than -1% to lead losers in the Dow Jones Industrials. In addition, Microsoft (MSFT) and Meta Platforms (META) are down more than -1%.
Nordson (NDSN) is down more than -2% after Jeffries downgraded the stock to hold from buy and cut its price target on the stock to $240 from $260.
Chip stocks are under pressure today on concerns interest rates will remain higher for longer. ON Semiconductor (ON) is down more than -2%. Also, Nvidia (NVDA), Applied Materials (AMAT), KLA Corp (KLAC), Lam Research (LRCX), ASML Holding NV (ASML), Broadcom (AVGO), Analog Devices (ADI), Marvell Technology (MRVL), Microchip Technology (MCHP), and Texas Instruments (TXN) are down more than -1%.
Etsy (ETSY) is down more than -2% after Evercore ISI cut its price target on the stock to $85 from $105.
DraftKings (DKNG) is up more than +2% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $37.
Immunovant (IMVT) is up more than +75% after announcing top-line results from an early-stage trial of its drug for autoimmune diseases.
Edwards Lifesciences Corp (EW) is up more than +1% after Oppenheimer upgraded the stock to outperform from market perform with a price target of $90.
Moderna (MRNA) is up nearly +1% after the Financial Times reported the company is in talks to supply the EU with Covid vaccines through 2026.
Across the markets…
December 10-year T-notes (ZNZ23) today are up +1 tick, and the 10-year T-note yield is down -0.9 bp at 4.528%. Dec T-notes today recovered from a 16-year nearest-futures low, and the 10-year T-note yield fell back from a 16-year high at 4.562%. Strength in European government bond markets today is providing carryover support to T-notes. Also, today’s weaker-than-expected U.S. economic news on Aug new home sales and Sep consumer confidence supported T-notes. Gains are limited on hawkish comments from Minneapolis Fed President Kashkari and from supply pressures as the Treasury will auction $48 billion of 2-year T-notes later today as part of this week’s $158 billion auctions of T-notes and floating-rate notes.
The dollar index (DXY00) today is up by +0.09% and climbed to a 9-3/4 month high. Hawkish comments today from Minneapolis Fed President Kashkari supported the dollar when he said he expects the Fed to raise interest rates one more time this year. Also, weakness in the euro is bullish for the dollar after dovish ECB comments knocked EUR/USD down to a 6-1/2 month low. However, the dollar gave up most of its gains on a decline in T-note yields and weaker-than-expected U.S. economic reports on Aug new home sales and Sep consumer confidence.
EUR/USD (^EURUSD) today is down by -0.06% and posted a 6-1/2 month low. Dovish comments today from ECB Governing Council member Muller weighed on the euro when he said he's not currently expecting further increases in interest rates from the ECB. Strength in the dollar today is also undercutting the euro.
USD/JPY (^USDJPY) is down by -0.02%. The yen today recovered from an 11-month low against the dollar and is slightly higher on jawboning from Japanese government officials. Today, short covering emerged in the yen after Japanese Finance Minister Suzuki said, “I’m watching market trends with a high sense of urgency.” Also, lower T-note yields today are supportive of the yen. In addition, today’s -1% fall in the Nikkei Stock Index boosted some safe-haven demand for the yen.
Japan Aug PPI services prices rose +2.1% y/y, stronger than expectations of +1.8% y/y and the biggest increase in 11 months.
October gold (GCV3) today is down -10.7 (-0.56%), and Dec silver (SIZ23) is down -0.070 (-0.30%). Precious metals prices today are moderately lower, with gold falling to a 1-1/2 week low. Today’s rally in the dollar index to a 9-3/4 month high is bearish for metals prices. Also, hawkish comments today from Minneapolis Fed President Kashkari undercut precious metals when he said he expects the Fed to raise interest rates one more time this year. Gold prices are also weighed down by long liquidation pressures after long gold holdings in ETFs fell to a 3-1/2 year low on Monday. The downside in metals is limited as today’s stock selloff has boosted some safe-haven demand for precious metals.
More Stock Market News from Barchart
Alphabet Stock Holds Up Well - Ideal for Short Put Traders
Markets Today: Stocks Slip on Additional Hawkish Fed Comments
Microsoft Iron Condor Could Net 25% In 3 Weeks
Stock Index Futures Plunge as Investors Weigh Interest Rate Outlook
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Also, Alphabet (GOOGL) is down more than -2%, and Apple (AAPL) is down more than -1% to lead losers in the Dow Jones Industrials. Also, mega-cap technology stocks are falling today and weighing on the overall market on concerns that global central banks will have to keep interest rates higher for longer to combat inflation. The U.S. Jul S&P CoreLogic composite-20 home price index unexpectedly rose +0.13% y/y, the first year-on-year increase in 5 months and stronger than expectations of a -0.10% y/y decline.
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Also, Alphabet (GOOGL) is down more than -2%, and Apple (AAPL) is down more than -1% to lead losers in the Dow Jones Industrials. Concerns about the U.S. economy are weighing on stocks today after Aug new home sales fell more than expected to a 5-month low, and after the U.S. Sep consumer confidence index fell more than expected to a 4-month low. In addition, hawkish Fed comments today are pressuring stocks after Minneapolis Fed President Kashkari said he expects the Fed will have to raise interest rates one more time this year due to strength in the U.S. economy.
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Also, Alphabet (GOOGL) is down more than -2%, and Apple (AAPL) is down more than -1% to lead losers in the Dow Jones Industrials. Concerns about the U.S. economy are weighing on stocks today after Aug new home sales fell more than expected to a 5-month low, and after the U.S. Sep consumer confidence index fell more than expected to a 4-month low. In addition, hawkish Fed comments today are pressuring stocks after Minneapolis Fed President Kashkari said he expects the Fed will have to raise interest rates one more time this year due to strength in the U.S. economy.
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Also, Alphabet (GOOGL) is down more than -2%, and Apple (AAPL) is down more than -1% to lead losers in the Dow Jones Industrials. Concerns about the U.S. economy are weighing on stocks today after Aug new home sales fell more than expected to a 5-month low, and after the U.S. Sep consumer confidence index fell more than expected to a 4-month low. Dec T-notes today recovered from a 16-year nearest-futures low, and the 10-year T-note yield fell back from a 16-year high at 4.562%.
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13435.0
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2023-09-26 00:00:00 UTC
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U.S. sues Amazon.com for breaking antitrust law and harming consumers
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AAPL
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https://www.nasdaq.com/articles/u.s.-sues-amazon.com-for-breaking-antitrust-law-and-harming-consumers
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nan
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nan
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By Diane Bartz
WASHINGTON, Sept 26 (Reuters) - The U.S. Federal Trade Commission filed a long-awaited antitrust lawsuit against Amazon.com AMZN.O on Tuesday, charging the online retailer with harming consumers with higher prices in the latest U.S. government legal action aimed at breaking Big Tech's dominance of the internet.
The lawsuit had been expected after years of complaints that Amazon.com and other tech giants abused their dominance of search, social media and online retailing to become gate keepers on the most lucrative aspects of the internet.
Amazon did not immediately respond to a request for comment.
The lawsuit, which was joined by 17 state attorneys general, follows a four-year investigation and federal lawsuits filed against Alphabet's GOOGL.O Google and Meta Platforms' META.O Facebook.
"The FTC and its state partners say Amazon’s actions allow it to stop rivals and sellers from lowering prices, degrade quality for shoppers, overcharge sellers, stifle innovation, and prevent rivals from fairly competing against Amazon," the agency said in a statement.
The FTC said that it was asking the court to issue a permanent injunction ordering Amazon.com to stop its unlawful conduct. The lawsuit was filed in federal court in Seattle, where Amazon is based.
Amazon shares were down 3%.
The FTC said that Amazon, founded in 1994 and worth more than $1 trillion, punished sellers that sought to offer prices that were lower than Amazon's by making it difficult for consumers to find the seller on Amazon's platform.
Other allegations include that Amazon gave preference to its own products on its platforms over competitors also on the platform.
FTC Chair Lina Khan said that Amazon had used illegal tactics to fend off companies that would have risen to challenge its monopoly.
"Amazon is now exploiting that monopoly power to harm its customers, both the tens of millions of families that shop on Amazon's platform and the hundreds of thousands of sellers that use Amazon to reach them," she said.
Khan, while a law student, wrote about Amazon.com's dominance in online retailing for "The Yale Law Journal" and was on the staff of the House committee that wrote a report issued in 2020 that advocated reining in four tech giants: Amazon.com, Apple AAPL.O, Google and Facebook.
The need to take action against Big Tech has been one of the few ideas that Democrats and Republicans have agreed on. During the Trump administration which ended in 2021, the Justice Department and FTC opened probes into Google, Facebook, Apple and Amazon.
The Justice Department has sued Google twice - once under Republican Donald Trump regarding its search business and a second time on advertising technology since Democratic President Joe Biden took office. The FTC sued Facebook during the Trump administration and Biden's FTC has pressed forward with the lawsuit.
FACTBOX-Amazon.com faces an array of US consumer, state antitrust lawsuits
Amazon.com set to meet with US FTC ahead of potential antitrust lawsuit -source
FTC to file antitrust case against Amazon as soon as Tuesday - Politico
Google gives a glimpse of its defense in once-in-a-generation antitrust trial
Google argues quality kept its search on top, defends billions paid
US regulators unveil antitrust roadmap with Big Tech in crosshairs
U.S. antitrust regulator plans to target Amazon's online marketplace - Bloomberg News
(Reporting by Diane Bartz, Editing by Chris Sanders, Matthew Lewis, Nick Zieminski)
((Diane.Bartz@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Khan, while a law student, wrote about Amazon.com's dominance in online retailing for "The Yale Law Journal" and was on the staff of the House committee that wrote a report issued in 2020 that advocated reining in four tech giants: Amazon.com, Apple AAPL.O, Google and Facebook. By Diane Bartz WASHINGTON, Sept 26 (Reuters) - The U.S. Federal Trade Commission filed a long-awaited antitrust lawsuit against Amazon.com AMZN.O on Tuesday, charging the online retailer with harming consumers with higher prices in the latest U.S. government legal action aimed at breaking Big Tech's dominance of the internet. The lawsuit had been expected after years of complaints that Amazon.com and other tech giants abused their dominance of search, social media and online retailing to become gate keepers on the most lucrative aspects of the internet.
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Khan, while a law student, wrote about Amazon.com's dominance in online retailing for "The Yale Law Journal" and was on the staff of the House committee that wrote a report issued in 2020 that advocated reining in four tech giants: Amazon.com, Apple AAPL.O, Google and Facebook. "The FTC and its state partners say Amazon’s actions allow it to stop rivals and sellers from lowering prices, degrade quality for shoppers, overcharge sellers, stifle innovation, and prevent rivals from fairly competing against Amazon," the agency said in a statement. The FTC sued Facebook during the Trump administration and Biden's FTC has pressed forward with the lawsuit.
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Khan, while a law student, wrote about Amazon.com's dominance in online retailing for "The Yale Law Journal" and was on the staff of the House committee that wrote a report issued in 2020 that advocated reining in four tech giants: Amazon.com, Apple AAPL.O, Google and Facebook. "The FTC and its state partners say Amazon’s actions allow it to stop rivals and sellers from lowering prices, degrade quality for shoppers, overcharge sellers, stifle innovation, and prevent rivals from fairly competing against Amazon," the agency said in a statement. The FTC said that Amazon, founded in 1994 and worth more than $1 trillion, punished sellers that sought to offer prices that were lower than Amazon's by making it difficult for consumers to find the seller on Amazon's platform.
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Khan, while a law student, wrote about Amazon.com's dominance in online retailing for "The Yale Law Journal" and was on the staff of the House committee that wrote a report issued in 2020 that advocated reining in four tech giants: Amazon.com, Apple AAPL.O, Google and Facebook. By Diane Bartz WASHINGTON, Sept 26 (Reuters) - The U.S. Federal Trade Commission filed a long-awaited antitrust lawsuit against Amazon.com AMZN.O on Tuesday, charging the online retailer with harming consumers with higher prices in the latest U.S. government legal action aimed at breaking Big Tech's dominance of the internet. The lawsuit was filed in federal court in Seattle, where Amazon is based.
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13436.0
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2023-09-26 00:00:00 UTC
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US STOCKS-Wall St slides as rate concerns keep Treasury yields near 16-year peak
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-slides-as-rate-concerns-keep-treasury-yields-near-16-year-peak
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Moody's warns government shutdown bad for U.S. credit
U.S. sues Amazon.com for breaking antitrust law
Immunovant jumps, antibody treatment shows promise
Soleno skyrockets, rare disorder drug hits trial goal
Indexes down: Dow 0.97%, S&P 1.21%, Nasdaq 1.26%
Updated at 11:51 a.m. ET/1551 GMT
By Ankika Biswas and Shashwat Chauhan
Sept 26 (Reuters) - Wall Street's main indexes dived on Tuesday as 10-year Treasury yields held their multi-year highs, with investors continuing to grapple with the prospects of a prolonged restrictive monetary policy and its subsequent economic impact.
Adding to investor anxiety was the likelihood of a partial shutdown of the U.S. government by Sunday, which, according to ratings agency Moody's, is likely to be a "credit negative".
"These prospects for another government shutdown combined with the auto strike feel as though all these are sort of combining together to do damage to the economy," said Robert Pavlik, senior portfolio manager at Dakota Wealth.
Amazon.com AMZN.O extended its decline, last down 3.3%, after the U.S. Federal Trade Commission slapped a long-awaited antitrust lawsuit against the online retailer. The tech-heavy Nasdaq was the worst performer among its peers.
All 11 S&P 500 sectors were trading lower, with utilities .SPLRCU among the major laggards. As the sector is often seen as a bond proxy, it has been the worst performer so far this year with a near 12% decline.
Meanwhile, energy .SPNY was the least hit, tracking crude prices above the $90-per-barrel mark. Although recent economic data have signaled core inflation crawling back to the Fed's 2% target, rising energy prices remain a threat.
At 11:51 a.m. ET, the Dow Jones Industrial Average .DJI was down 330.43 points, or 0.97%, at 33,676.45, the S&P 500 .SPX was down 52.69 points, or 1.21%, at 4,284.75, and the Nasdaq Composite .IXIC was down 167.55 points, or 1.26%, at 13,103.77.
All three major U.S. stock indexes are set to log quarterly declines for the first time this year heading into the last trading days of September.
Pressuring equities, the benchmark 10-year Treasury yield US10YT=RR has been defending its 16-year high since the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks.
Traders' bets on the benchmark rate remaining unchanged in November and December stood at 74% and 59%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 32% in June and July.
Through the week, data including on durable goods, the personal consumption expenditures price index for August, second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell will be monitored.
Among individual stocks, Immunovant IMVT.O surged 93.5% after the drug developer said its antibody treatment succeeded in an early-stage trial. Roivant Sciences ROIV.O, the company's largest shareholder as per LSEG data, was up 23.8%.
Soleno Therapeutics SLNO.O more than quadrupled in value to $20 after its rare disorder drug diazoxide choline hit its trial goal.
Declining issues outnumbered advancers for a 3.75-to-1 ratio on the NYSE and a 1.59-to-1 ratio on the Nasdaq.
The S&P index recorded one new 52-week high and 34 new lows, while the Nasdaq recorded 19 new highs and 202 new lows.
(Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Moody's warns government shutdown bad for U.S. credit U.S. sues Amazon.com for breaking antitrust law Immunovant jumps, antibody treatment shows promise Soleno skyrockets, rare disorder drug hits trial goal Indexes down: Dow 0.97%, S&P 1.21%, Nasdaq 1.26% Updated at 11:51 a.m. ET/1551 GMT By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes dived on Tuesday as 10-year Treasury yields held their multi-year highs, with investors continuing to grapple with the prospects of a prolonged restrictive monetary policy and its subsequent economic impact. Pressuring equities, the benchmark 10-year Treasury yield US10YT=RR has been defending its 16-year high since the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks. Through the week, data including on durable goods, the personal consumption expenditures price index for August, second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell will be monitored.
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Moody's warns government shutdown bad for U.S. credit U.S. sues Amazon.com for breaking antitrust law Immunovant jumps, antibody treatment shows promise Soleno skyrockets, rare disorder drug hits trial goal Indexes down: Dow 0.97%, S&P 1.21%, Nasdaq 1.26% Updated at 11:51 a.m. ET/1551 GMT By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes dived on Tuesday as 10-year Treasury yields held their multi-year highs, with investors continuing to grapple with the prospects of a prolonged restrictive monetary policy and its subsequent economic impact. Soleno Therapeutics SLNO.O more than quadrupled in value to $20 after its rare disorder drug diazoxide choline hit its trial goal. The S&P index recorded one new 52-week high and 34 new lows, while the Nasdaq recorded 19 new highs and 202 new lows.
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Moody's warns government shutdown bad for U.S. credit U.S. sues Amazon.com for breaking antitrust law Immunovant jumps, antibody treatment shows promise Soleno skyrockets, rare disorder drug hits trial goal Indexes down: Dow 0.97%, S&P 1.21%, Nasdaq 1.26% Updated at 11:51 a.m. ET/1551 GMT By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes dived on Tuesday as 10-year Treasury yields held their multi-year highs, with investors continuing to grapple with the prospects of a prolonged restrictive monetary policy and its subsequent economic impact. All three major U.S. stock indexes are set to log quarterly declines for the first time this year heading into the last trading days of September. Through the week, data including on durable goods, the personal consumption expenditures price index for August, second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell will be monitored.
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Moody's warns government shutdown bad for U.S. credit U.S. sues Amazon.com for breaking antitrust law Immunovant jumps, antibody treatment shows promise Soleno skyrockets, rare disorder drug hits trial goal Indexes down: Dow 0.97%, S&P 1.21%, Nasdaq 1.26% Updated at 11:51 a.m. ET/1551 GMT By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes dived on Tuesday as 10-year Treasury yields held their multi-year highs, with investors continuing to grapple with the prospects of a prolonged restrictive monetary policy and its subsequent economic impact. As the sector is often seen as a bond proxy, it has been the worst performer so far this year with a near 12% decline.
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13437.0
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2023-09-26 00:00:00 UTC
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Notable Tuesday Option Activity: AAPL, AMZN, MRNA
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AAPL
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https://www.nasdaq.com/articles/notable-tuesday-option-activity%3A-aapl-amzn-mrna
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nan
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nan
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Apple Inc (Symbol: AAPL), where a total of 764,142 contracts have traded so far, representing approximately 76.4 million underlying shares. That amounts to about 116.1% of AAPL's average daily trading volume over the past month of 65.8 million shares. Especially high volume was seen for the $172.50 strike put option expiring September 29, 2023, with 69,062 contracts trading so far today, representing approximately 6.9 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $172.50 strike highlighted in orange:
Amazon.com Inc (Symbol: AMZN) saw options trading volume of 527,505 contracts, representing approximately 52.8 million underlying shares or approximately 102.3% of AMZN's average daily trading volume over the past month, of 51.6 million shares. Particularly high volume was seen for the $130 strike call option expiring September 29, 2023, with 32,147 contracts trading so far today, representing approximately 3.2 million underlying shares of AMZN. Below is a chart showing AMZN's trailing twelve month trading history, with the $130 strike highlighted in orange:
And Moderna Inc (Symbol: MRNA) saw options trading volume of 32,593 contracts, representing approximately 3.3 million underlying shares or approximately 86.5% of MRNA's average daily trading volume over the past month, of 3.8 million shares. Particularly high volume was seen for the $140 strike put option expiring October 20, 2023, with 2,970 contracts trading so far today, representing approximately 297,000 underlying shares of MRNA. Below is a chart showing MRNA's trailing twelve month trading history, with the $140 strike highlighted in orange:
For the various different available expirations for AAPL options, AMZN options, or MRNA options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Top Ten Hedge Funds Holding WMW
BOKF Average Annual Return
CLIR Videos
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $172.50 strike put option expiring September 29, 2023, with 69,062 contracts trading so far today, representing approximately 6.9 million underlying shares of AAPL. Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Apple Inc (Symbol: AAPL), where a total of 764,142 contracts have traded so far, representing approximately 76.4 million underlying shares. That amounts to about 116.1% of AAPL's average daily trading volume over the past month of 65.8 million shares.
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Especially high volume was seen for the $172.50 strike put option expiring September 29, 2023, with 69,062 contracts trading so far today, representing approximately 6.9 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $172.50 strike highlighted in orange: Amazon.com Inc (Symbol: AMZN) saw options trading volume of 527,505 contracts, representing approximately 52.8 million underlying shares or approximately 102.3% of AMZN's average daily trading volume over the past month, of 51.6 million shares. Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Apple Inc (Symbol: AAPL), where a total of 764,142 contracts have traded so far, representing approximately 76.4 million underlying shares.
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Apple Inc (Symbol: AAPL), where a total of 764,142 contracts have traded so far, representing approximately 76.4 million underlying shares. Below is a chart showing AAPL's trailing twelve month trading history, with the $172.50 strike highlighted in orange: Amazon.com Inc (Symbol: AMZN) saw options trading volume of 527,505 contracts, representing approximately 52.8 million underlying shares or approximately 102.3% of AMZN's average daily trading volume over the past month, of 51.6 million shares. That amounts to about 116.1% of AAPL's average daily trading volume over the past month of 65.8 million shares.
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Below is a chart showing AAPL's trailing twelve month trading history, with the $172.50 strike highlighted in orange: Amazon.com Inc (Symbol: AMZN) saw options trading volume of 527,505 contracts, representing approximately 52.8 million underlying shares or approximately 102.3% of AMZN's average daily trading volume over the past month, of 51.6 million shares. Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Apple Inc (Symbol: AAPL), where a total of 764,142 contracts have traded so far, representing approximately 76.4 million underlying shares. That amounts to about 116.1% of AAPL's average daily trading volume over the past month of 65.8 million shares.
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13438.0
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2023-09-26 00:00:00 UTC
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How to Invest in Big Tech’s AI Chatbot Craze
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AAPL
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https://www.nasdaq.com/articles/how-to-invest-in-big-techs-ai-chatbot-craze
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When ChatGPT launched in November 2022, it was such a novel platform that many wondered if it could ever be replicated. But less than a year later, every major tech company is now launching their own AI chatbot. And that’s signaling what we consider to be a very investable craze.
Right now, what we are seeing with AI chatbot development is nothing short of a gold rush. And it’s being driven by the biggest and most powerful companies in the world.
Alphabet (GOOGL) – the $1.7 trillion search giant with $120 billion in cash on its balance sheet – has created Bard, its in-house AI chatbot that has already been incorporated into Google Search and Google Cloud.
Apple (AAPL) – the $2.7 trillion iPhone maker with $166 billion in cash – is reportedly spending millions a day to advance its large language models in hopes of creating a more advanced version of Siri.
Amazon (AMZN) – the $1.4 trillion retail juggernaut with $64 billion in cash – just poured $4 billion into Anthropic, a top startup with world-leading AI chatbot technology.
Later this week, Meta (META) – the $775 billion social media titan with $53 billion in cash – will launch a series of “character AI chatbots” that each feature unique personalities.
And, of course, Microsoft (MSFT) – the $2.4 billion computing giant with $111 billion in cash – owns a huge stake in OpenAI, ChatGPT’s creator.
Folks, the world’s largest companies – with multi-trillion-dollar valuations and hundreds of billions in cash – are going “all-in” on the AI chatbot craze.
And that’s because AI chatbots are the future. They will soon become ubiquitous.
AI Chatbots: Answering Modern Questions Using Modern Solutions
Perhaps philosopher Peter Abelard posed it best when he wrote, “The master key of knowledge is, indeed, a persistent and frequent questioning.”
Indeed, recent research suggests humans have more than 6,000 thoughts per day. And most of those thoughts compose questions.
Am I overwatering my plants? Are there any interesting events near me this week? What Netflix show should I watch tonight? How do you fix a broken door handle?
Nowadays, to find answers to our questions, we turn to Google, ask friends, or seek an industry expert. (I, for one, have learned a lot in the aisles of Home Depot.)
But we believe that within a few years, we will answer all those questions using AI chatbots.
There will be a general AI chatbot, like ChatGPT, to answer general questions. But more excitingly, there will be industry-specific chatbots to more comprehensively answer specialized questions.
I imagine a near future wherein there’s an AI chatbot for everything…
An AI chatbot for automotive repair; one for home remodeling and construction; another for gardening. There will likely be an AI chatbot for cooking, one for cleaning or for sports, music, movies, and more.
This future is being built right now.
The Final Word
Meta’s character chatbots – expected to be announced tomorrow – are a big step toward this AI-driven future.
The tech firm has developed dozens of AI personality chatbots with distinct characteristics, traits, and knowledge. For example, there’s “Bob the robot,” a smart and sassy robot with a farcical sense of humor, and “Alvin the alien,” an alien-proxy chatbot that is fascinated with knowing more about humans.
Of course, Meta differentiates these chatbots by training them on different datasets and with different parameters. This results in more specific, relatable, and human-like chatbots that aren’t just a modified version of Google.
We believe this is a glimpse into the future, wherein there are hundreds, if not thousands, of chatbots, each with their own personalities and abilities. And they will all work together to answer whatever question we may pose.
That’s also the future that Microsoft envisions – and Alphabet, Apple, Amazon, and Meta.
It’s why they’re all pouring billions of dollars into the AI chatbot craze.
And it is also why you should be investing alongside them.
What better way to invest in this craze than investing in the world’s top chatbot?
On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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The post How to Invest in Big Tech’s AI Chatbot Craze appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) – the $2.7 trillion iPhone maker with $166 billion in cash – is reportedly spending millions a day to advance its large language models in hopes of creating a more advanced version of Siri. Folks, the world’s largest companies – with multi-trillion-dollar valuations and hundreds of billions in cash – are going “all-in” on the AI chatbot craze. The Final Word Meta’s character chatbots – expected to be announced tomorrow – are a big step toward this AI-driven future.
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Apple (AAPL) – the $2.7 trillion iPhone maker with $166 billion in cash – is reportedly spending millions a day to advance its large language models in hopes of creating a more advanced version of Siri. Alphabet (GOOGL) – the $1.7 trillion search giant with $120 billion in cash on its balance sheet – has created Bard, its in-house AI chatbot that has already been incorporated into Google Search and Google Cloud. AI Chatbots: Answering Modern Questions Using Modern Solutions Perhaps philosopher Peter Abelard posed it best when he wrote, “The master key of knowledge is, indeed, a persistent and frequent questioning.” Indeed, recent research suggests humans have more than 6,000 thoughts per day.
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Apple (AAPL) – the $2.7 trillion iPhone maker with $166 billion in cash – is reportedly spending millions a day to advance its large language models in hopes of creating a more advanced version of Siri. Alphabet (GOOGL) – the $1.7 trillion search giant with $120 billion in cash on its balance sheet – has created Bard, its in-house AI chatbot that has already been incorporated into Google Search and Google Cloud. Later this week, Meta (META) – the $775 billion social media titan with $53 billion in cash – will launch a series of “character AI chatbots” that each feature unique personalities.
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Apple (AAPL) – the $2.7 trillion iPhone maker with $166 billion in cash – is reportedly spending millions a day to advance its large language models in hopes of creating a more advanced version of Siri. Later this week, Meta (META) – the $775 billion social media titan with $53 billion in cash – will launch a series of “character AI chatbots” that each feature unique personalities. And that’s because AI chatbots are the future.
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13439.0
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2023-09-26 00:00:00 UTC
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Stocks Tumble as Confidence in the U.S. Economic Outlook Wanes
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AAPL
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https://www.nasdaq.com/articles/stocks-tumble-as-confidence-in-the-u.s.-economic-outlook-wanes
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nan
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nan
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What you need to know…
The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -1.47%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.14%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.51%.
Stocks on Tuesday sold off, with the S&P 5000, Dow Jones Industrials, and the Nasdaq 100 falling to 3-1/2 month lows. Concern about the U.S. economy weighed on stocks Tuesday after Aug new home sales fell more than expected to a 5-month low, and after the U.S. Sep consumer confidence index fell more than expected to a 4-month low. Stocks extended their losses on rising bond yields as the 10-year T-note yield Tuesday climbed to a new 16-year high.
Also, mega-cap technology stocks retreated Tuesday and weighed on the overall market on concern that global central banks will have to keep interest rates higher-for-longer to combat inflation. In addition, hawkish Fed comments Tuesday pressured stocks after Minneapolis Fed President Kashkari said he expects the Fed will have to raise interest rates one more time this year due to strength in the U.S. economy.
China’s worsening property debt crisis remains an albatross for the global stock markets due to concern the debt crisis will derail the country’s growth prospects and drag down the global economy. China Evergrande Group said its subsidiary Hengda Real Estate Group defaulted on a 4 billion yuan ($547 million) debt payment due Monday, and Chinese authorities detained former company executives.
Minneapolis Fed President Kashkari said, "If the economy is fundamentally much stronger than we realized, on the margin that would tell me rates probably have to go a little bit higher and then be held higher for longer to cool things off."
U.S. Aug new home sales fell -8.7% m/m to a 5-month low of 675,000, weaker than expectations of 698,000.
The Conference Board Sep U.S. consumer confidence index fell -5.7 to a 4-month low of 103.0, weaker than expectations of 105.5.
The U.S. Sep Richmond Fed manufacturing survey rose +12 to a 17-month high of 5, stronger than expectations of no change at -7.
The U.S. Jul S&P CoreLogic composite-20 home price index unexpectedly rose +0.13% y/y, the first year-on-year increase in 5 months and stronger than expectations of a -0.10% y/y decline.
The markets are discounting a 19% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 42% chance for that +25 bp rate hike at the following meeting that ends on December 13. The markets are then expecting the FOMC to begin cutting rates in the second half of 2024 in response to an expected slowdown in the U.S. economy.
U.S. and European bond yields Tuesday moved higher. The 10-year T-note yield climbed to a new 16-year high of 4.562% and finished up +2.1 bp at 4.554%. The 10-year German bund yield rose to a new 12-year high of 2.821% and finished up +1.0 bp at 2.808%. The 10-year UK gilt yield rose +0.3 bp at 4.326%.
Overseas stock markets Tuesday settled lower. The Euro Stoxx 50 closed down -0.92%. China’s Shanghai Composite Index closed -0.43%. Japan’s Nikkei 225 today closed -1.11%.
Today’s stock movers…
Cintas (CTAS) closed down more than -5% to lead losers in the S&P 500 after reporting Q2 revenue of $2.34 billion, right on expectations and disappointing some analysts who expected stronger results.
Megacap technology stocks retreated Tuesday and weighed on the overall market. Amazon.com (AMZN) closed down more than -4% to lead losers in the Nasdaq 100. Also, Apple (AAPL) closed down more than -2% to lead losers in the Dow Jones Industrials. Alphabet (GOOGL) closed down more than -2%, and Microsoft (MSFT) and Meta Platforms (META) closed down more than -1%.
Nordson (NDSN) closed down more than -3% after Jeffries downgraded the stock to hold from buy and cut its price target on the stock to $240 from $260.
Chip stocks fell Tuesday on concern interest rates will remain higher-for-longer. ON Semiconductor (ON) closed down more than -4%. Also, Broadcom (AVGO), KLA Corp (KLAC), Lam Research (LRCX), and ASML Holding NV (ASML) closed down more than -2%. In addition, Analog Devices (ADI), Applied Materials (AMAT), Globalfoundries (GFS), Advanced Micro Devices (AMD), Marvell Technology (MRVL), Microchip Technology (MCHP), and Texas Instruments (TXN) closed down more than -1%.
The jump in the 10-year T-note yield to a 16-year high pressured utility stocks. WEC Energy Group (WEC), NiSource (NI), CenterPoint Energy (CNP), Southern Co (SO), Alliant Energy Corp (LNT), and Eversource Energy (ES) closed down more than -3%.
Etsy (ETSY) closed down more than -4% after Evercore ISI cut its price target on the stock to $85 from $105.
ResMed (RMD) closed up more than +3% to lead gainers in the S&P 500 after Goldman Sachs said it sees less impact from weight loss drugs on the obstructive sleep apnea market.
Insulet (PODD) closed up more than +2% after CFRA double-upgraded the stock to buy from sell with a price target of $175.
DraftKings (DKNG) closed up more than +2% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $37.
Immunovant (IMVT) closed up more than +97% after announcing top-line results from an early-stage trial of its drug for autoimmune diseases.
Edwards Lifesciences Corp (EW) closed up more than +1% after Oppenheimer upgraded the stock to outperform from market perform with a price target of $90.
Utz Brands (UTZ) closed up more than +1% after RBC Capital Markets initiated coverage of the stock with a recommendation of outperform, citing several catalysts, including a “potential take-out candidate.”
Across the markets…
December 10 year T-notes (ZNZ23) Tuesday closed down -2 ticks. The 10-year T-note yield rose +2.1 bp to 4.554%. Dec T-notes Tuesday extended Monday’s losses to a new 16-year nearest-futures low, and the 10-year T-note yield climbed to a 16-year high of 4.562%. Carryover pressure from a slide in German bunds weighed on T-note prices as Tuesday's 10-year German bund yield rose to a 12-year high of 2.821%. Also, tepid demand for the Treasury’s $48 billion auction of 2-year T-notes weighed on prices as the auction had a bid-to-cover ratio of 2.73, slightly below the 10-auction average of 2.75.
T-notes Tuesday found early support from the weaker-than-expected U.S. new home sales and consumer confidence reports. Also, a decline in inflation expectations was positive for T-notes after the 10-year breakeven inflation rate fell to a 2-week low of 2.313%. In addition, weakness in stocks Tuesday boosted the safe-haven demand for T-notes.
More Stock Market News from Barchart
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2 NYSE Stocks to Buy Hitting 52-Week Highs on Tuesday
Buy This Mining Stock Now for the Inevitable Copper Shortage
Palo Alto Networks and 2 More Growth Stocks to Buy on the Dip
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Also, Apple (AAPL) closed down more than -2% to lead losers in the Dow Jones Industrials. Also, mega-cap technology stocks retreated Tuesday and weighed on the overall market on concern that global central banks will have to keep interest rates higher-for-longer to combat inflation. ResMed (RMD) closed up more than +3% to lead gainers in the S&P 500 after Goldman Sachs said it sees less impact from weight loss drugs on the obstructive sleep apnea market.
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Also, Apple (AAPL) closed down more than -2% to lead losers in the Dow Jones Industrials. Concern about the U.S. economy weighed on stocks Tuesday after Aug new home sales fell more than expected to a 5-month low, and after the U.S. Sep consumer confidence index fell more than expected to a 4-month low. In addition, hawkish Fed comments Tuesday pressured stocks after Minneapolis Fed President Kashkari said he expects the Fed will have to raise interest rates one more time this year due to strength in the U.S. economy.
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Also, Apple (AAPL) closed down more than -2% to lead losers in the Dow Jones Industrials. What you need to know… The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -1.47%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.14%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.51%. Concern about the U.S. economy weighed on stocks Tuesday after Aug new home sales fell more than expected to a 5-month low, and after the U.S. Sep consumer confidence index fell more than expected to a 4-month low.
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Also, Apple (AAPL) closed down more than -2% to lead losers in the Dow Jones Industrials. Concern about the U.S. economy weighed on stocks Tuesday after Aug new home sales fell more than expected to a 5-month low, and after the U.S. Sep consumer confidence index fell more than expected to a 4-month low. Today’s stock movers… Cintas (CTAS) closed down more than -5% to lead losers in the S&P 500 after reporting Q2 revenue of $2.34 billion, right on expectations and disappointing some analysts who expected stronger results.
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13440.0
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2023-09-26 00:00:00 UTC
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After Hours Most Active for Sep 26, 2023 : IGF, SIRI, USB, CRH, AAPL, SNAP, BAC, CHGG, INTC, QQQ, ROIV, MRO
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-sep-26-2023-%3A-igf-siri-usb-crh-aapl-snap-bac-chgg-intc-qqq
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nan
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nan
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The NASDAQ 100 After Hours Indicator is up 2.52 to 14,548.35. The total After hours volume is currently 89,475,718 shares traded.
The following are the most active stocks for the after hours session:
iShares Global Infrastructure ETF (IGF) is +0.2356 at $44.02, with 6,582,274 shares traded. This represents a 10.18% increase from its 52 Week Low.
Sirius XM Holdings Inc. (SIRI) is +0.0001 at $3.88, with 5,389,738 shares traded. As reported in the last short interest update the days to cover for SIRI is 8.799384; this calculation is based on the average trading volume of the stock.
U.S. Bancorp (USB) is +0.12 at $33.14, with 3,907,043 shares traded. As reported by Zacks, the current mean recommendation for USB is in the "buy range".
CRH PLC (CRH) is unchanged at $55.81, with 3,388,902 shares traded. As reported by Zacks, the current mean recommendation for CRH is in the "strong buy range".
Apple Inc. (AAPL) is +0.2 at $172.16, with 3,152,231 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2024. The consensus EPS forecast is $1.56. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Snap Inc. (SNAP) is -0.04 at $8.30, with 3,129,990 shares traded. SNAP's current last sale is 83% of the target price of $10.
Bank of America Corporation (BAC) is +0.02 at $27.19, with 3,119,513 shares traded. BAC's current last sale is 77.69% of the target price of $35.
Chegg, Inc. (CHGG) is unchanged at $8.84, with 2,212,724 shares traded. CHGG's current last sale is 63.14% of the target price of $14.
Intel Corporation (INTC) is +0.04 at $33.87, with 2,113,235 shares traded. INTC's current last sale is 96.77% of the target price of $35.
Invesco QQQ Trust, Series 1 (QQQ) is +0.36 at $354.57, with 1,951,846 shares traded. This represents a 39.45% increase from its 52 Week Low.
Roivant Sciences Ltd. (ROIV) is +0.05 at $12.46, with 1,804,678 shares traded. As reported by Zacks, the current mean recommendation for ROIV is in the "buy range".
Marathon Oil Corporation (MRO) is unchanged at $26.29, with 1,348,588 shares traded. As reported by Zacks, the current mean recommendation for MRO is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc. (AAPL) is +0.2 at $172.16, with 3,152,231 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". As reported in the last short interest update the days to cover for SIRI is 8.799384; this calculation is based on the average trading volume of the stock.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is +0.2 at $172.16, with 3,152,231 shares traded. The total After hours volume is currently 89,475,718 shares traded.
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Apple Inc. (AAPL) is +0.2 at $172.16, with 3,152,231 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The total After hours volume is currently 89,475,718 shares traded.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is +0.2 at $172.16, with 3,152,231 shares traded. As reported by Zacks, the current mean recommendation for USB is in the "buy range".
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13441.0
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2023-09-26 00:00:00 UTC
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US STOCKS-Wall St pounded as investors grapple with higher rates
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-pounded-as-investors-grapple-with-higher-rates-0
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nan
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nan
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By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan
Sept 26 (Reuters) - Wall Street's main indexes ended down over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout.
The Dow posted its biggest one-day percentage drop since March, while all three major averages ended at their lowest closing levels in well over three months.
Adding to investor anxiety was the potential of a partial U.S. government shutdown by the weekend, which ratings agency Moody's warned would harm the country's credit.
Benchmark 10-year Treasury yields have climbed to 16-year highs in the wake of the Federal Reserve's hawkish longer-term rate outlook last week.
"We continue to adjust to the higher interest rates," said Brad McMillan, chief investment officer for Commonwealth Financial Network.
"What you are getting is increasingly a sense that the market is overvalued. ... There's a real sense out there that this isn't sustainable, and buyers are being scared away."
The Dow Jones Industrial Average .DJI fell 388.00 points, or 1.14%, to 33,618.88, the S&P 500 .SPX lost 63.91 points, or 1.47%, to 4,273.53 and the Nasdaq Composite .IXICdropped 207.71 points, or 1.57%, to 13,063.61.
All 11 S&P 500 sectors ended lower. The heavyweight tech sector .SPLRCT dropped 1.8%, while the rate-sensitive utilities .SPLRCU and real estate .SPLRCR groups fell 3.05% and 1.8%, respectively.
The CBOE volatility index .VIX, known as Wall Street's "fear gauge," closed at its highest level since May 25.
Megacap stocks that have propelled indexes higher this year dragged on Tuesday.
Amazon.com AMZN.O shares dropped 4% as the U.S. Federal Trade Commission filed a long awaited antitrust lawsuit against the online retailer.
Investors are focused on Friday's personal consumption expenditures price index for a fresh view of the inflation picture. This week also brings other data including on durable goods and second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell.
In company news, ImmunovantIMVT.O shares surged 97% after early-stage data from the drug developer's experimental antibody treatment exceeded analysts' expectations.
Declining issues outnumbered advancers by a 5.9-to-1 ratio on the NYSE. There were 37 new highs and 388 new lows on the NYSE.
On the Nasdaq, declining issues outnumbered advancers by a 2.1-to-1 ratio. The Nasdaq recorded 35 new highs and 390 new lows.
About 10.2 billion shares changed hands in U.S. exchanges, in line with the daily average over the last 20 sessions.
(Reporting by Lewis Krauskopf in New York, Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel and Richard Chang)
((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net, Twitter: @LKrauskopf))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Dow posted its biggest one-day percentage drop since March, while all three major averages ended at their lowest closing levels in well over three months. Adding to investor anxiety was the potential of a partial U.S. government shutdown by the weekend, which ratings agency Moody's warned would harm the country's credit. This week also brings other data including on durable goods and second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell.
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By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes ended down over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout. Declining issues outnumbered advancers by a 5.9-to-1 ratio on the NYSE. On the Nasdaq, declining issues outnumbered advancers by a 2.1-to-1 ratio.
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By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes ended down over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout. The Dow Jones Industrial Average .DJI fell 388.00 points, or 1.14%, to 33,618.88, the S&P 500 .SPX lost 63.91 points, or 1.47%, to 4,273.53 and the Nasdaq Composite .IXICdropped 207.71 points, or 1.57%, to 13,063.61. (Reporting by Lewis Krauskopf in New York, Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel and Richard Chang) ((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net, Twitter: @LKrauskopf)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Lewis Krauskopf, Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes ended down over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout. The Dow posted its biggest one-day percentage drop since March, while all three major averages ended at their lowest closing levels in well over three months. There's a real sense out there that this isn't sustainable, and buyers are being scared away."
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13442.0
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2023-09-26 00:00:00 UTC
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JPMorgan sees India in its top 3 fastest-growing Asia markets in 2024
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AAPL
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https://www.nasdaq.com/articles/jpmorgan-sees-india-in-its-top-3-fastest-growing-asia-markets-in-2024-0
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nan
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nan
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By Ira Dugal
MUMBAI, Sept 27 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank.
"People are starting to get excited about the whole China plus one element and while other countries have benefitted, India could be the largest beneficiary," said Filippo Gori, JPMorgan's CEO for Asia Pacific told Reuters, referring to a strategy for businesses diversifying supply chains beyond China.
This is because India has the scale to absorb part of the supply chain that many companies around the world are looking to move, he said in an interview in Mumbai.
Global corporations like Apple Inc have stepped up production out of India while others like Tesla are in discussions to begin manufacturing in the country.
Asia's third largest economy is seen growing 6.5% in the financial year ending March 31, 2024 - the fastest among major economies - and is trying to attract global corporations, including by offering tax and other incentives.
"It seems to me that the one component that is missing (in India) is more organized infrastructure, which is more scattered and less uniform than in China," said Gori, who sees low-end manufacturing moving out of China but not high-end manufacturing yet.
Deal volume for JPMorgan, across mergers and acquisitions, equity and debt fund raising, has been weak across the region this year and India has not been an exception despite the excitement.
"But the level at which enquiry and activity is picking up in India in substantial," Gori said.
JPMorgan has expanded its investment banking team in India, adding two senior managing directors in the last 12 months. It has also grown its commercial banking division, which is focused on mid-sized companies, over the last five years. Alongside, it has grown its corporate centre business, which handles offshoring related work, to a workforce of 50,000 now from 35,000 in 2018.
Commenting on the impact of the slowdown in China and flux in its markets, Gori said the bank had not seen a sharp slowdown in business volumes in the market yet.
"I think we need to distinguish between the headlines and the day to day business because China has actually been exceptionally resilient."
The bank's primary client base is international companies operating offshore in China and that business has not been impacted by geopolitics, Gori said.
"I will not rule out that there could be activity coming out of China because clearly with an economy that is going through restructuring, some dealmaking activity could come up."
(Reporting by Ira Dugal Editing by Mark Potter)
((Ira.Dugal@thomsonreuters.com; +91-9833024892;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Ira Dugal MUMBAI, Sept 27 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank. Deal volume for JPMorgan, across mergers and acquisitions, equity and debt fund raising, has been weak across the region this year and India has not been an exception despite the excitement. The bank's primary client base is international companies operating offshore in China and that business has not been impacted by geopolitics, Gori said.
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By Ira Dugal MUMBAI, Sept 27 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank. "People are starting to get excited about the whole China plus one element and while other countries have benefitted, India could be the largest beneficiary," said Filippo Gori, JPMorgan's CEO for Asia Pacific told Reuters, referring to a strategy for businesses diversifying supply chains beyond China. Asia's third largest economy is seen growing 6.5% in the financial year ending March 31, 2024 - the fastest among major economies - and is trying to attract global corporations, including by offering tax and other incentives.
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By Ira Dugal MUMBAI, Sept 27 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank. "People are starting to get excited about the whole China plus one element and while other countries have benefitted, India could be the largest beneficiary," said Filippo Gori, JPMorgan's CEO for Asia Pacific told Reuters, referring to a strategy for businesses diversifying supply chains beyond China. "It seems to me that the one component that is missing (in India) is more organized infrastructure, which is more scattered and less uniform than in China," said Gori, who sees low-end manufacturing moving out of China but not high-end manufacturing yet.
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By Ira Dugal MUMBAI, Sept 27 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank. The bank's primary client base is international companies operating offshore in China and that business has not been impacted by geopolitics, Gori said. "I will not rule out that there could be activity coming out of China because clearly with an economy that is going through restructuring, some dealmaking activity could come up."
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13443.0
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2023-09-26 00:00:00 UTC
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FTEC: Fidelity’s Overlooked Tech ETF
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AAPL
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https://www.nasdaq.com/articles/ftec%3A-fidelitys-overlooked-tech-etf
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nan
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nan
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When investors think of tech ETFs, they often think of the massively popular Invesco QQQ Trust (NASDAQ:QQQ) and the Technology Select Sector SPDR ETF (NYSEARCA:XLK) -- rightfully so, as these are low-cost long-term winners that have performed well for years. But there’s also an overlooked tech ETF that deserves to be in this conversation as well and is worthy of more attention -- the Fidelity MSCI Information Technology ETF (NYSEARCA:FTEC).
At $6.9 billion in assets under management (AUM), FTEC isn't as big as QQQ or XLK, but its long-term performance is comparable to that of these two juggernauts, and it’s actually an even more cost-effective option for investors. Here’s more on FTEC.
What is the FTEC ETF's Strategy?
The passively-managed FTEC ETF invests at least 80% of its assets in its underlying index, the MSCI USA IMI Information Technology 25/50 Index. All of the stocks in this index are classified within the technology sector by the Global Industry Classification Standard (GICS).
FTEC's Strong Past Performance
FTEC has put up some great returns over the years. In the past year, the fund has returned 28.4%. Over the past three years, as of the end of August, FTEC returned 11.5% on an annualized basis. FTEC has returned an even better 17.9% on an annualized basis over the past five years. FTEC launched in October 2013, so it does not yet have a 10-year annualized return as it approaches its 10-year anniversary, but it has returned an impressive 19.6% on an annualized basis over the life of the fund.
These results slightly underperformed those of XLK but are within the same ballpark. XLK has returned 31.1% over the past year. Over the past three and five-year time frames, XLK has posted total annualized returns of 13.4% and 19.6%, slightly outperforming FTEC.
Meanwhile, QQQ has returned 27.2% over the past year. Further, QQQ has posted annualized returns of 9.3% and 16.0% over the past three and five years, respectively, slightly underperforming FTEC.
As you can see, while FTEC slightly trailed behind XLK over the past three and five years, it outperformed QQQ, meaning that it deserves to be in the conversation with these top tech ETFs.
Low Fees
FTEC is in the same league as these top tech ETFs based on its multi-year performance. And it also is right in the mix with them based on its low expense ratio. In fact, with an expense ratio of 0.08%, it’s even cheaper than both QQQ and XLK, even though both are well-known for being cost-effective. QQQ has an expense ratio of 0.20%, while XLK sports an expense ratio of 0.10%.
An investor in FTEC would pay just $8 in fees on a $10,000 investment over the course of one year. Someone putting the same amount into XLK would pay $10 in fees, and an investor allocating the same amount into QQQ would pay $20. These are all reasonable amounts, but FTEC is the cheapest of the three funds.
You can see how these minor differences in expenses compound over time by looking further out. Assuming that each fund returns 5% per year going forward and that each maintains its current expense ratio, the FTEC investor would pay just $108 in fees over the course of 10 years versus $128 for the XLK investor and $255 for the QQQ investor.
Below, you can check out a comparison of FTEC versus QQQ and XLK using TipRanks' ETF comparison tool. This unique tool enables investors to compare ETFs on a variety of factors, including their expense ratios, long-term performances, and Smart Scores. Investors can use the ETF comparison tool to simultaneously compare up to 20 ETFs at a time.
FTEC's Holdings
FTEC offers good diversification since it owns 314 stocks, but it is also fairly concentrated in that its top 10 holdings account for a relatively high 61.4% of assets. For comparison, XLK owns 67 stocks, and its top 10 holdings make up 69.9% of the fund, while QQQ owns 102 stocks, and its top 10 holdings account for 48.3% of the fund.
Below, you can check out FTEC’s top 10 holdings using TipRanks’ holdings tool.
FTEC features many of the top tech stocks that are household names in today’s stock market. Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the two largest companies in the world by market capitalization, enjoy particularly large weightings of 22.8% and 20.5% within the fund.
Meanwhile, the semiconductor industry is well-represented in FTEC’s top 10 holdings through the likes of Nvidia (NASDAQ:NVDA), Broadcom (NASDAQ:AVGO), and Advanced Micro Devices (NASDAQ:AMD). Enterprise software mega-caps like Adobe (NASDAQ:ADBE), Salesforce (NYSE:CRM), and Oracle (NYSE:ORCL) also occupy top 10 positions within the fund.
Further, an impressive nine out of FTEC’s top 10 holdings feature Smart Scores of 8 or above. The Smart Score is a proprietary quantitative stock scoring system created by TipRanks. It gives stocks a score from 1 to 10 based on eight market key factors. A score of 8 or above is equivalent to an Outperform rating. FTEC itself features an Outperform-equivalent ETF Smart Score of 8 out of 10.
Not only is the Smart Score optimistic about FTEC and its individual holdings, but so are Wall Street analysts, as you'll see below.
Is FTEC Stock a Buy, According to Analysts?
Turning to Wall Street, FTEC earns a Moderate Buy consensus rating based on 238 Buys, 74 Holds, and two Sell ratings assigned in the past three months. The average FTEC stock price target of $149.10 implies 23.1% upside potential.
Investor Takeaway
While it doesn’t get as much attention as its counterparts XLK or QQQ, FTEC is right up there with them as another top tech ETF. Its performance over the past five years is comparable to those of the two larger funds, and it is actually slightly more cost-effective to own.
All three of these ETFs are great funds, but FTEC, in particular, warrants further investor consideration based on its strong long-term track record, its high-quality portfolio of top tech stocks, and its minimal expense ratio.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the two largest companies in the world by market capitalization, enjoy particularly large weightings of 22.8% and 20.5% within the fund. At $6.9 billion in assets under management (AUM), FTEC isn't as big as QQQ or XLK, but its long-term performance is comparable to that of these two juggernauts, and it’s actually an even more cost-effective option for investors. This unique tool enables investors to compare ETFs on a variety of factors, including their expense ratios, long-term performances, and Smart Scores.
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Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the two largest companies in the world by market capitalization, enjoy particularly large weightings of 22.8% and 20.5% within the fund. But there’s also an overlooked tech ETF that deserves to be in this conversation as well and is worthy of more attention -- the Fidelity MSCI Information Technology ETF (NYSEARCA:FTEC). FTEC's Strong Past Performance FTEC has put up some great returns over the years.
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Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the two largest companies in the world by market capitalization, enjoy particularly large weightings of 22.8% and 20.5% within the fund. As you can see, while FTEC slightly trailed behind XLK over the past three and five years, it outperformed QQQ, meaning that it deserves to be in the conversation with these top tech ETFs. Assuming that each fund returns 5% per year going forward and that each maintains its current expense ratio, the FTEC investor would pay just $108 in fees over the course of 10 years versus $128 for the XLK investor and $255 for the QQQ investor.
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Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the two largest companies in the world by market capitalization, enjoy particularly large weightings of 22.8% and 20.5% within the fund. Over the past three and five-year time frames, XLK has posted total annualized returns of 13.4% and 19.6%, slightly outperforming FTEC. Assuming that each fund returns 5% per year going forward and that each maintains its current expense ratio, the FTEC investor would pay just $108 in fees over the course of 10 years versus $128 for the XLK investor and $255 for the QQQ investor.
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2023-09-26 00:00:00 UTC
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3 Dow Jones Industrial Average Stocks To Watch Ahead Of October 2023
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https://www.nasdaq.com/articles/3-dow-jones-industrial-average-stocks-to-watch-ahead-of-october-2023
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The Dow Jones Industrial Average (DJIA), often simply referred to as “the Dow,” is one of the most widely recognized stock market indices in the world. The DJIA tracks 30 major publicly-owned companies based in the United States. Additionally, it serves as a barometer for the overall health of the U.S. economy and offers insights into the broader stock market’s performance.
When discussing Dow Jones Industrial Average stocks, we are referring to the 30 blue-chip companies that constitute the index. These companies are industry leaders and are known for their long-standing history, stability, and significant impact on the American economy.
Investing in Dow Jones Industrial Average stocks often appeals to individuals seeking to capitalize on the consistent performance of established companies. While these stocks can offer stability, like all investments, they come with risks. That said, potential investors should consider their own risk tolerance and financial situation before diving in. Keeping this on top of mind, let’s dive into three Dow Jones Industrial Average stocks to check out in the stock market today.
Dow Stocks To Invest In [Or Avoid] Right Now
Apple Inc. (NASDAQ: AAPL)
The Boeing Company (NYSE: BA)
The Coca-Cola Company (NYSE: KO)
Apple Inc. (AAPL Stock)
To start, Apple Inc. (AAPL) is a global technology company that designs, manufactures, and sells a range of electronic products, software, and services. Some of its most recognizable products include the iPhone, iPad, and Mac computers. Beyond hardware, Apple also operates the App Store, iCloud, and Apple Music platforms.
Earlier this month, Apple announced the launch of its first-ever carbon-neutral products with the unveiling of the new Apple Watch lineup. This significant advancement was achieved through innovations in design and the use of clean energy, leading to a more than 75% reduction in product emissions for each carbon-neutral Apple Watch. This initiative is part of Apple’s broader 2030 climate goal, which aims to have every product, including their entire global supply chain and lifetime use of every device, be carbon neutral by the end of the decade.
Looking at the last six months of trading, shares of Apple stock have advanced by 9.49%. Meanwhile, during Tuesday morning’s trading session, AAPL stock opened lower by 1.58% trading at $173.30 a share.
[Read More] Top Stocks To Buy Now? 3 Retail Stocks For Your Watchlist
The Boeing Company (BA Stock)
Next, The Boeing Company (BA) is an aerospace and defense giant that designs and manufactures airplanes, rockets, satellites, and telecommunications equipment. With customers across the globe, Boeing’s products play a pivotal role in commercial air travel, defense, and space exploration.
Back in July, Boeing announced better-than-expected second-quarter 2023 financial results. Diving in, the company posted a loss of $0.82 per share, with revenue of $19.75 billion for Q2 2023. This is versus analysts’ consensus estimates for the quarter which were a loss of $0.99 per share, and revenue estimates of $18.29 billion. Additionally, revenue increased by 18.40% compared to the same period, the previous year.
Over the past six months of trading action, shares of BA stock have pulled back modestly by 1.32%. Moreover, during Tuesday morning’s trading session, Boeing stock is trading at $197.92 a share.
[Read More] 2 Quantum Computing Stocks To Watch For Your Mid-September 2023 List
The Coca-Cola Company (KO Stock)
Last but not least, The Coca-Cola Company (KO) is a beverage corporation. The company produces and distributes a variety of non-alcoholic drinks globally. It’s best known for its flagship product, Coca-Cola. However, its portfolio includes over 500 brands spanning soft drinks, juices, and water.
Just last week, The Coca-Cola Company announced that they will be releasing their financial results for the third quarter of 2023 on October 24, prior to the opening of the New York Stock Exchange. Following the release, the company has scheduled an investor conference call at 8:30 a.m. ET to further discuss the disclosed results.
In the last six months, shares of KO stock have fallen by 7.82%. Moreover, during Tuesday’s mid-morning trading session, Coca-Cola stock is trading slightly lower by 0.79% at $56.55 a share.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dow Stocks To Invest In [Or Avoid] Right Now Apple Inc. (NASDAQ: AAPL) The Boeing Company (NYSE: BA) The Coca-Cola Company (NYSE: KO) Apple Inc. (AAPL Stock) To start, Apple Inc. (AAPL) is a global technology company that designs, manufactures, and sells a range of electronic products, software, and services. Meanwhile, during Tuesday morning’s trading session, AAPL stock opened lower by 1.58% trading at $173.30 a share. Investing in Dow Jones Industrial Average stocks often appeals to individuals seeking to capitalize on the consistent performance of established companies.
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Dow Stocks To Invest In [Or Avoid] Right Now Apple Inc. (NASDAQ: AAPL) The Boeing Company (NYSE: BA) The Coca-Cola Company (NYSE: KO) Apple Inc. (AAPL Stock) To start, Apple Inc. (AAPL) is a global technology company that designs, manufactures, and sells a range of electronic products, software, and services. Meanwhile, during Tuesday morning’s trading session, AAPL stock opened lower by 1.58% trading at $173.30 a share. 3 Retail Stocks For Your Watchlist The Boeing Company (BA Stock) Next, The Boeing Company (BA) is an aerospace and defense giant that designs and manufactures airplanes, rockets, satellites, and telecommunications equipment.
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Dow Stocks To Invest In [Or Avoid] Right Now Apple Inc. (NASDAQ: AAPL) The Boeing Company (NYSE: BA) The Coca-Cola Company (NYSE: KO) Apple Inc. (AAPL Stock) To start, Apple Inc. (AAPL) is a global technology company that designs, manufactures, and sells a range of electronic products, software, and services. Meanwhile, during Tuesday morning’s trading session, AAPL stock opened lower by 1.58% trading at $173.30 a share. 3 Retail Stocks For Your Watchlist The Boeing Company (BA Stock) Next, The Boeing Company (BA) is an aerospace and defense giant that designs and manufactures airplanes, rockets, satellites, and telecommunications equipment.
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Dow Stocks To Invest In [Or Avoid] Right Now Apple Inc. (NASDAQ: AAPL) The Boeing Company (NYSE: BA) The Coca-Cola Company (NYSE: KO) Apple Inc. (AAPL Stock) To start, Apple Inc. (AAPL) is a global technology company that designs, manufactures, and sells a range of electronic products, software, and services. Meanwhile, during Tuesday morning’s trading session, AAPL stock opened lower by 1.58% trading at $173.30 a share. While these stocks can offer stability, like all investments, they come with risks.
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2023-09-26 00:00:00 UTC
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3 Warren Buffett Stocks Worth Owning Forever
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AAPL
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https://www.nasdaq.com/articles/3-warren-buffett-stocks-worth-owning-forever
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Warren Buffett is widely regarded as one of the most successful investors of all time. His investment philosophy is based on the principles of the Benjamin Graham school of value investing, which seeks to identify undervalued companies that have strong fundamentals and healthy long-term growth prospects. Buffett also looks for businesses that have durable competitive advantages, or "moats", that protect them from rivals and allow them to generate consistent profits and cash flows.
Buffett's holding company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), owns a diversified portfolio of stocks across various sectors and industries. Some of these stocks have been in Buffett's portfolio for decades, reflecting his buy-and-hold strategy and his confidence in their future prospects. While not every stock in Berkshire's broad portfolio stands out as must-own equity for value investors, there are a few that screen as top candidates for long-term investors who want to emulate Buffett's style. Here is a nuts-and-bolts overview of three Warren Buffett stocks worth owning forever.
Image Source: Getty Images.
Apple: A technological marvel
Apple (NASDAQ: AAPL) is Buffett's largest holding, accounting for about 46% of Berkshire's portfolio. The tech giant has a loyal customer base, a strong brand, and a dominant position in the smartphone market. Apple also benefits from its growing services segment, which includes the App Store, Apple Music, iCloud, Apple Pay, and more. These services generate recurring revenue streams and high margins for Apple, as well as increase customer loyalty and engagement. Apple has also been investing in new growth areas, such as wearable devices, streaming content, and pay-as-you-go financial services. With its innovative culture, cash-rich balance sheet, and shareholder-friendly policies, Apple is a stock that Buffett and his followers can hold for the long haul without any major concerns.
Coca-Cola: A proven wealth escalator
Coca-Cola (NYSE: KO) is one of Buffett's oldest and most beloved holdings, dating back to 1988. The beverage giant has a global distribution network, a diversified product portfolio, and a powerful brand that is recognized by billions of consumers. Coca-Cola has been adapting to changing consumer preferences by expanding into new categories, such as coffee, tea, juice, water, energy drinks, and more. Coca-Cola also has a solid track record of returning capital to shareholders through dividends and buybacks. The company has increased its dividend for 61 consecutive years, making it a reliable income generator for long-term investors. In line with this sustainability thesis, the beverage giant also has a reasonable trailing-12-month payout ratio of 74.7%, which suggests that its dividend program is sustainable for the foreseeable future.
American Express: A top financial-services play
American Express (NYSE: AXP) is another long-standing holding of Berkshire Hathaway holding, dating back to the early '90s. The financial-services company has a loyal customer base, a premium brand image, and a network of millions of merchants around the world. American Express earns revenue from both card fees and interest income, giving it a diversified business model. American Express also has a competitive edge in the corporate and affluent segments of the market, where it offers top-notch rewards and benefits to its cardholders. What's more, American Express has been investing in digital initiatives, such as contactless cards and digital wallets, to enhance its customer experience and reach new high-value market segments. With its strong cash flow generation, fiscally conservative capital allocation policies, and healthy growth potential, American Express should continue to deliver outstanding returns for shareholders in the years ahead.
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American Express is an advertising partner of The Ascent, a Motley Fool company. George Budwell has positions in Apple. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool recommends the following options: long January 2024 $47.50 calls on Coca-Cola. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple: A technological marvel Apple (NASDAQ: AAPL) is Buffett's largest holding, accounting for about 46% of Berkshire's portfolio. With its innovative culture, cash-rich balance sheet, and shareholder-friendly policies, Apple is a stock that Buffett and his followers can hold for the long haul without any major concerns. Coca-Cola has been adapting to changing consumer preferences by expanding into new categories, such as coffee, tea, juice, water, energy drinks, and more.
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Apple: A technological marvel Apple (NASDAQ: AAPL) is Buffett's largest holding, accounting for about 46% of Berkshire's portfolio. Buffett's holding company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), owns a diversified portfolio of stocks across various sectors and industries. American Express: A top financial-services play American Express (NYSE: AXP) is another long-standing holding of Berkshire Hathaway holding, dating back to the early '90s.
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Apple: A technological marvel Apple (NASDAQ: AAPL) is Buffett's largest holding, accounting for about 46% of Berkshire's portfolio. Buffett's holding company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), owns a diversified portfolio of stocks across various sectors and industries. American Express: A top financial-services play American Express (NYSE: AXP) is another long-standing holding of Berkshire Hathaway holding, dating back to the early '90s.
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Apple: A technological marvel Apple (NASDAQ: AAPL) is Buffett's largest holding, accounting for about 46% of Berkshire's portfolio. Buffett's holding company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), owns a diversified portfolio of stocks across various sectors and industries. With its strong cash flow generation, fiscally conservative capital allocation policies, and healthy growth potential, American Express should continue to deliver outstanding returns for shareholders in the years ahead.
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2023-09-26 00:00:00 UTC
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JPMorgan sees India in its top 3 fastest-growing Asia markets in 2024
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AAPL
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https://www.nasdaq.com/articles/jpmorgan-sees-india-in-its-top-3-fastest-growing-asia-markets-in-2024
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By Ira Dugal
MUMBAI, Sept 26 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank.
"People are starting to get excited about the whole China plus one element and while other countries have benefitted, India could be the largest beneficiary," said Filippo Gori, JPMorgan's CEO for Asia Pacific told Reuters, referring to a strategy for businesses diversifying supply chains beyond China.
This is because India has the scale to absorb part of the supply chain that many companies around the world are looking to move, he said in an interview in Mumbai.
Global corporations like Apple Inc have stepped up production out of India while others like Tesla are in discussions to begin manufacturing in the country.
Asia's third largest economy is seen growing 6.5% in the financial year ending March 31, 2024 - the fastest among major economies - and is trying to attract global corporations, including by offering tax and other incentives.
"It seems to me that the one component that is missing (in India) is more organized infrastructure, which is more scattered and less uniform than in China," said Gori, who sees low-end manufacturing moving out of China but not high-end manufacturing yet.
Deal volume for JPMorgan, across mergers and acquisitions, equity and debt fund raising, has been weak across the region this year and India has not been an exception despite the excitement.
"But the level at which enquiry and activity is picking up in India in substantial," Gori said.
JPMorgan has expanded its investment banking team in India, adding two senior managing directors in the last 12 months. It has also grown its commercial banking division, which is focused on mid-sized companies, over the last five years. Alongside, it has grown its corporate centre business, which handles offshoring related work, to a workforce of 50,000 now from 35,000 in 2018.
Commenting on the impact of the slowdown in China and flux in its markets, Gori said the bank had not seen a sharp slowdown in business volumes in the market yet.
"I think we need to distinguish between the headlines and the day to day business because China has actually been exceptionally resilient."
The bank's primary client base is international companies operating offshore in China and that business has not been impacted by geopolitics, Gori said.
"I will not rule out that there could be activity coming out of China because clearly with an economy that is going through restructuring, some dealmaking activity could come up."
(Reporting by Ira Dugal Editing by Mark Potter)
((Ira.Dugal@thomsonreuters.com; +91-9833024892;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Ira Dugal MUMBAI, Sept 26 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank. Deal volume for JPMorgan, across mergers and acquisitions, equity and debt fund raising, has been weak across the region this year and India has not been an exception despite the excitement. The bank's primary client base is international companies operating offshore in China and that business has not been impacted by geopolitics, Gori said.
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By Ira Dugal MUMBAI, Sept 26 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank. "People are starting to get excited about the whole China plus one element and while other countries have benefitted, India could be the largest beneficiary," said Filippo Gori, JPMorgan's CEO for Asia Pacific told Reuters, referring to a strategy for businesses diversifying supply chains beyond China. Asia's third largest economy is seen growing 6.5% in the financial year ending March 31, 2024 - the fastest among major economies - and is trying to attract global corporations, including by offering tax and other incentives.
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By Ira Dugal MUMBAI, Sept 26 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank. "People are starting to get excited about the whole China plus one element and while other countries have benefitted, India could be the largest beneficiary," said Filippo Gori, JPMorgan's CEO for Asia Pacific told Reuters, referring to a strategy for businesses diversifying supply chains beyond China. "It seems to me that the one component that is missing (in India) is more organized infrastructure, which is more scattered and less uniform than in China," said Gori, who sees low-end manufacturing moving out of China but not high-end manufacturing yet.
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By Ira Dugal MUMBAI, Sept 26 (Reuters) - India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank. The bank's primary client base is international companies operating offshore in China and that business has not been impacted by geopolitics, Gori said. "I will not rule out that there could be activity coming out of China because clearly with an economy that is going through restructuring, some dealmaking activity could come up."
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2023-09-26 00:00:00 UTC
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B of A Securities Reiterates Apple (AAPL) Neutral Recommendation
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AAPL
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https://www.nasdaq.com/articles/b-of-a-securities-reiterates-apple-aapl-neutral-recommendation-0
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Fintel reports that on September 26, 2023, B of A Securities reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation.
Analyst Price Forecast Suggests 16.25% Upside
As of August 31, 2023, the average one-year price target for Apple is 204.70. The forecasts range from a low of 150.49 to a high of $252.00. The average price target represents an increase of 16.25% from its latest reported closing price of 176.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 413,641MM, an increase of 7.74%. The projected annual non-GAAP EPS is 6.36.
For more in-depth coverage of Apple, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 6419 funds or institutions reporting positions in Apple. This is an increase of 58 owner(s) or 0.91% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 9.58%. Total shares owned by institutions increased in the last three months by 0.26% to 9,940,941K shares.
The put/call ratio of AAPL is 0.90, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 915,560K shares representing 5.86% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 465,990K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 465,280K shares, representing an increase of 0.15%. The firm increased its portfolio allocation in AAPL by 8.69% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 352,024K shares representing 2.25% ownership of the company. In it's prior filing, the firm reported owning 347,041K shares, representing an increase of 1.42%. The firm increased its portfolio allocation in AAPL by 8.07% over the last quarter.
Geode Capital Management holds 291,538K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 285,171K shares, representing an increase of 2.18%. The firm increased its portfolio allocation in AAPL by 8.78% over the last quarter.
Price T Rowe Associates holds 226,651K shares representing 1.45% ownership of the company. In it's prior filing, the firm reported owning 234,017K shares, representing a decrease of 3.25%. The firm increased its portfolio allocation in AAPL by 139.25% over the last quarter.
Apple Background Information
(This description is provided by the company.)
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Five companies in the U.S. information technology industry, along with Amazon, Google, Microsoft, and Facebook. Its hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, the AirPods wireless earbuds, the AirPods Max headphones, and the HomePod smart speaker line. Apple's software includes iOS, iPadOS, macOS, watchOS, and tvOS operating systems, the iTunes media player, the Safari web browser, the Shazam music identifier, and the iLife and iWork creativity and productivity suites, as well as professional applications like Final Cut Pro X, Logic Pro, and Xcode. Its online services include the iTunes Store, the iOS App Store, Mac App Store, Apple Arcade, Apple Music, Apple TV+, iMessage, and iCloud. Other services include Apple Store, Genius Bar, AppleCare, Apple Pay, Apple Pay Cash, and Apple Card. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak's Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple I and Apple II, grew quickly.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Fintel reports that on September 26, 2023, B of A Securities reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 9.58%. The put/call ratio of AAPL is 0.90, indicating a bullish outlook.
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Fintel reports that on September 26, 2023, B of A Securities reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 9.58%. The put/call ratio of AAPL is 0.90, indicating a bullish outlook.
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Fintel reports that on September 26, 2023, B of A Securities reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 9.58%. The put/call ratio of AAPL is 0.90, indicating a bullish outlook.
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Fintel reports that on September 26, 2023, B of A Securities reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 9.58%. The put/call ratio of AAPL is 0.90, indicating a bullish outlook.
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2023-09-26 00:00:00 UTC
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Dow Movers: AAPL, INTC
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AAPL
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https://www.nasdaq.com/articles/dow-movers%3A-aapl-intc
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In early trading on Tuesday, shares of Intel topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.1%. Year to date, Intel registers a 31.1% gain.
And the worst performing Dow component thus far on the day is Apple, trading down 1.1%. Apple is showing a gain of 34.0% looking at the year to date performance.
Two other components making moves today are Microsoft, trading down 0.9%, and MMM, trading up 0.2% on the day.
VIDEO: Dow Movers: AAPL, INTC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: Dow Movers: AAPL, INTC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Tuesday, shares of Intel topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.1%. And the worst performing Dow component thus far on the day is Apple, trading down 1.1%.
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VIDEO: Dow Movers: AAPL, INTC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Tuesday, shares of Intel topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.1%. Year to date, Intel registers a 31.1% gain.
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VIDEO: Dow Movers: AAPL, INTC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Tuesday, shares of Intel topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.1%. And the worst performing Dow component thus far on the day is Apple, trading down 1.1%.
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VIDEO: Dow Movers: AAPL, INTC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And the worst performing Dow component thus far on the day is Apple, trading down 1.1%. Apple is showing a gain of 34.0% looking at the year to date performance.
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2023-09-26 00:00:00 UTC
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Should You Invest in the Fidelity MSCI Information Technology Index ETF (FTEC)?
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https://www.nasdaq.com/articles/should-you-invest-in-the-fidelity-msci-information-technology-index-etf-ftec-8
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Designed to provide broad exposure to the Technology - Broad segment of the equity market, the Fidelity MSCI Information Technology Index ETF (FTEC) is a passively managed exchange traded fund launched on 10/21/2013.
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Technology - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 8, placing it in top 50%.
Index Details
The fund is sponsored by Fidelity. It has amassed assets over $6.92 billion, making it one of the largest ETFs attempting to match the performance of the Technology - Broad segment of the equity market. FTEC seeks to match the performance of the MSCI USA IMI Information Technology Index before fees and expenses.
The MSCI USA IMI Information Technology Index represents the performance of the information technology sector in the U.S. equity market.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.08%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 0.74%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Information Technology sector--about 100% of the portfolio.
Looking at individual holdings, Apple Inc Common Stock Usd.00001 (AAPL) accounts for about 21.80% of total assets, followed by Microsoft Corp Common Stock Usd.00000625 (MSFT) and Nvidia Corp Common Stock Usd.001 (NVDA).
The top 10 holdings account for about 60.24% of total assets under management.
Performance and Risk
So far this year, FTEC return is roughly 31.32%, and is up about 31.88% in the last one year (as of 09/26/2023). During this past 52-week period, the fund has traded between $88.99 and $135.73.
The ETF has a beta of 1.15 and standard deviation of 25.55% for the trailing three-year period, making it a medium risk choice in the space. With about 312 holdings, it effectively diversifies company-specific risk.
Alternatives
Fidelity MSCI Information Technology Index ETF holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, FTEC is a great option for investors seeking exposure to the Technology ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.
Technology Select Sector SPDR ETF (XLK) tracks Technology Select Sector Index and the Vanguard Information Technology ETF (VGT) tracks MSCI US Investable Market Information Technology 25/50 Index. Technology Select Sector SPDR ETF has $47.80 billion in assets, Vanguard Information Technology ETF has $50.28 billion. XLK has an expense ratio of 0.10% and VGT charges 0.10%.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Technology Select Sector SPDR ETF (XLK): ETF Research Reports
Vanguard Information Technology ETF (VGT): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at individual holdings, Apple Inc Common Stock Usd.00001 (AAPL) accounts for about 21.80% of total assets, followed by Microsoft Corp Common Stock Usd.00000625 (MSFT) and Nvidia Corp Common Stock Usd.001 (NVDA). Click to get this free report Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. It has amassed assets over $6.92 billion, making it one of the largest ETFs attempting to match the performance of the Technology - Broad segment of the equity market.
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Looking at individual holdings, Apple Inc Common Stock Usd.00001 (AAPL) accounts for about 21.80% of total assets, followed by Microsoft Corp Common Stock Usd.00000625 (MSFT) and Nvidia Corp Common Stock Usd.001 (NVDA). Click to get this free report Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. Technology Select Sector SPDR ETF (XLK) tracks Technology Select Sector Index and the Vanguard Information Technology ETF (VGT) tracks MSCI US Investable Market Information Technology 25/50 Index.
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Click to get this free report Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc Common Stock Usd.00001 (AAPL) accounts for about 21.80% of total assets, followed by Microsoft Corp Common Stock Usd.00000625 (MSFT) and Nvidia Corp Common Stock Usd.001 (NVDA). Alternatives Fidelity MSCI Information Technology Index ETF holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors.
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Looking at individual holdings, Apple Inc Common Stock Usd.00001 (AAPL) accounts for about 21.80% of total assets, followed by Microsoft Corp Common Stock Usd.00000625 (MSFT) and Nvidia Corp Common Stock Usd.001 (NVDA). Click to get this free report Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. Designed to provide broad exposure to the Technology - Broad segment of the equity market, the Fidelity MSCI Information Technology Index ETF (FTEC) is a passively managed exchange traded fund launched on 10/21/2013.
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13450.0
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2023-09-26 00:00:00 UTC
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French authorities received a software update for Apple's iPhone 12 - ministry source
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AAPL
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https://www.nasdaq.com/articles/french-authorities-received-a-software-update-for-apples-iphone-12-ministry-source
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PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday.
The U.S. tech company had pledged to update the software for iPhone 12s in France to settle a row over radiation levels.
(Reporting by Elizabeth Pineau; Writing by Benoit Van Overstraeten; Editing by Ingrid Melander)
((benoit.vanoverstraeten@thomsonreuters.com; +33149495339;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday. The U.S. tech company had pledged to update the software for iPhone 12s in France to settle a row over radiation levels. (Reporting by Elizabeth Pineau; Writing by Benoit Van Overstraeten; Editing by Ingrid Melander) ((benoit.vanoverstraeten@thomsonreuters.com; +33149495339;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday. The U.S. tech company had pledged to update the software for iPhone 12s in France to settle a row over radiation levels. (Reporting by Elizabeth Pineau; Writing by Benoit Van Overstraeten; Editing by Ingrid Melander) ((benoit.vanoverstraeten@thomsonreuters.com; +33149495339;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday. The U.S. tech company had pledged to update the software for iPhone 12s in France to settle a row over radiation levels. (Reporting by Elizabeth Pineau; Writing by Benoit Van Overstraeten; Editing by Ingrid Melander) ((benoit.vanoverstraeten@thomsonreuters.com; +33149495339;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday. The U.S. tech company had pledged to update the software for iPhone 12s in France to settle a row over radiation levels. (Reporting by Elizabeth Pineau; Writing by Benoit Van Overstraeten; Editing by Ingrid Melander) ((benoit.vanoverstraeten@thomsonreuters.com; +33149495339;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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13451.0
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2023-09-26 00:00:00 UTC
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Should Vanguard Russell 1000 Growth ETF (VONG) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-vanguard-russell-1000-growth-etf-vong-be-on-your-investing-radar-9
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Designed to provide broad exposure to the Large Cap Growth segment of the US equity market, the Vanguard Russell 1000 Growth ETF (VONG) is a passively managed exchange traded fund launched on 09/22/2010.
The fund is sponsored by Vanguard. It has amassed assets over $12.98 billion, making it one of the larger ETFs attempting to match the Large Cap Growth segment of the US equity market.
Why Large Cap Growth
Large cap companies usually have a market capitalization above $10 billion. Overall, they are usually a stable option, with less risk and more sure-fire cash flows than mid and small cap companies.
Qualities of growth stocks include faster growth rates compared to the broader market, as well as higher valuations and higher than average sales and earnings growth rates. Also, growth stocks are a type of equity that carries more risk compared to others. Compared to value stocks, growth stocks are a safer bet in a strong bull market, but don't perform as strongly in almost all other financial environments.
Costs
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.08%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 0.99%.
Sector Exposure and Top Holdings
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Information Technology sector--about 42.90% of the portfolio. Consumer Discretionary and Healthcare round out the top three.
Looking at individual holdings, Apple Inc. (AAPL) accounts for about 12.97% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN).
Performance and Risk
VONG seeks to match the performance of the Russell 1000 Growth Index before fees and expenses. The Russell 1000 Growth Index measures the performance of large-capitalization growth stocks in the United States.
The ETF has added roughly 25.86% so far this year and was up about 24.93% in the last one year (as of 09/26/2023). In the past 52-week period, it has traded between $53.17 and $73.40.
The ETF has a beta of 1.07 and standard deviation of 22.40% for the trailing three-year period, making it a medium risk choice in the space. With about 509 holdings, it effectively diversifies company-specific risk.
Alternatives
Vanguard Russell 1000 Growth ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, VONG is an outstanding option for investors seeking exposure to the Style Box - Large Cap Growth segment of the market. There are other additional ETFs in the space that investors could consider as well.
The Vanguard Growth ETF (VUG) and the Invesco QQQ (QQQ) track a similar index. While Vanguard Growth ETF has $89.36 billion in assets, Invesco QQQ has $199.44 billion. VUG has an expense ratio of 0.04% and QQQ charges 0.20%.
Bottom-Line
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Vanguard Russell 1000 Growth ETF (VONG): ETF Research Reports
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Invesco QQQ (QQQ): ETF Research Reports
Vanguard Growth ETF (VUG): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at individual holdings, Apple Inc. (AAPL) accounts for about 12.97% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN). Click to get this free report Vanguard Russell 1000 Growth ETF (VONG): ETF Research Reports Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Vanguard Growth ETF (VUG): ETF Research Reports To read this article on Zacks.com click here. It has amassed assets over $12.98 billion, making it one of the larger ETFs attempting to match the Large Cap Growth segment of the US equity market.
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Click to get this free report Vanguard Russell 1000 Growth ETF (VONG): ETF Research Reports Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Vanguard Growth ETF (VUG): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc. (AAPL) accounts for about 12.97% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN). Designed to provide broad exposure to the Large Cap Growth segment of the US equity market, the Vanguard Russell 1000 Growth ETF (VONG) is a passively managed exchange traded fund launched on 09/22/2010.
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Click to get this free report Vanguard Russell 1000 Growth ETF (VONG): ETF Research Reports Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Vanguard Growth ETF (VUG): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc. (AAPL) accounts for about 12.97% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN). Designed to provide broad exposure to the Large Cap Growth segment of the US equity market, the Vanguard Russell 1000 Growth ETF (VONG) is a passively managed exchange traded fund launched on 09/22/2010.
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Looking at individual holdings, Apple Inc. (AAPL) accounts for about 12.97% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN). Click to get this free report Vanguard Russell 1000 Growth ETF (VONG): ETF Research Reports Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Vanguard Growth ETF (VUG): ETF Research Reports To read this article on Zacks.com click here. Designed to provide broad exposure to the Large Cap Growth segment of the US equity market, the Vanguard Russell 1000 Growth ETF (VONG) is a passively managed exchange traded fund launched on 09/22/2010.
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13452.0
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2023-09-26 00:00:00 UTC
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Netflix (NFLX) Strengthens APAC Footprint With New Initiatives
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AAPL
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https://www.nasdaq.com/articles/netflix-nflx-strengthens-apac-footprint-with-new-initiatives
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nan
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Netflix NFLX is strengthening its footprint in the Asia Pacific ("APAC") region, with a plethora of content and initiatives that support creativity. The company’s efforts to bolster its APAC content portfolio have been a major growth driver.
In second-quarter 2023, APAC’s paid subscriber base increased 16.5% year over year to 40.55 million, adding 1.07 million new paid subscribers. In comparison, the subscriber base in the United States and Canada (“UCAN"), Europe, Middle East & Africa and Latin America increased 3.1%, 9.4% and 7.2%, on a year-over-year basis, respectively.
As part of its expansion strategy in the APAC region, the streaming giant recently announced the sponsorship of a program that aims at discovering and nurturing the next generation of Vietnamese filmmakers. The program will be led by Chanh Phuong Films.
Moreover, Netflix continues to expand its Korean content portfolio with a new documentary, Yellow Door: ’90s Lo-fi Film Club, which will offer a glimpse into the journey of Korean cinephilia in the 1990s. Directed by Lee Hyuk-rae, the documentary will be available on Netflix on Oct 27.
Korean content has been a major growth driver for Netflix. It is adding an array of Korean originals to its portfolio, including Mask Girl, Behind Your Touch and Destined With You. It recently confirmed the production of Aema, a Korean original series following the struggles of Hui-ran and Joo-ae in creating the 1980s hit film Madame Aema, set in 80s Chungmuro.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
Apart from Korean shows, Netflix is expanding its footprint in India through partnerships with the likes of Yash Raj Films and acclaimed director Neeraj Pandey’s Friday Storytellers LLP, the digital content production arm of Friday Filmworks.
Netflix Riding on Strong Foreign Language Content
Netflix’s strong foreign language content portfolio has been a key catalyst in driving share price performance. Shares of this Zacks Rank #3 (Hold) company have returned 30.5% compared with the Zacks Consumer Discretionary sector’s increase of 4.2% year to date. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company has been suffering from intensified competition and a saturated market in its largest region, UCAN. Among its closest peers, Netflix has outperformed Disney DIS but underperformed Amazon AMZN and Apple AAPL year to date.
While Disney shares have declined 6.8%, shares of Amazon and Apple have returned 56.3% and 35.5%, respectively, on a year-to-date basis.
Netflix now expects revenue growth to accelerate in the second half of 2023, driven by the launch of the paid sharing initiative and an expanding content offering.
For the third quarter of 2023, Netflix now forecasts earnings of $3.52 per share, indicating an almost 10% increase from the figure reported in the year-ago quarter. Total revenues are anticipated to be $8.52 billion, suggesting growth of 7% year over year and on a forex-neutral basis.
The Zacks Consensus Estimate for Netflix's third-quarter revenues is pegged at $8.53 billion, indicating 7.59% year-over-year growth. The consensus mark for earnings increased by a penny over the past 30 days to $3.49 per share.
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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
The Walt Disney Company (DIS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among its closest peers, Netflix has outperformed Disney DIS but underperformed Amazon AMZN and Apple AAPL year to date. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. In comparison, the subscriber base in the United States and Canada (“UCAN"), Europe, Middle East & Africa and Latin America increased 3.1%, 9.4% and 7.2%, on a year-over-year basis, respectively.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. Among its closest peers, Netflix has outperformed Disney DIS but underperformed Amazon AMZN and Apple AAPL year to date. In second-quarter 2023, APAC’s paid subscriber base increased 16.5% year over year to 40.55 million, adding 1.07 million new paid subscribers.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. Among its closest peers, Netflix has outperformed Disney DIS but underperformed Amazon AMZN and Apple AAPL year to date. Netflix, Inc. Price and Consensus Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote Apart from Korean shows, Netflix is expanding its footprint in India through partnerships with the likes of Yash Raj Films and acclaimed director Neeraj Pandey’s Friday Storytellers LLP, the digital content production arm of Friday Filmworks.
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Among its closest peers, Netflix has outperformed Disney DIS but underperformed Amazon AMZN and Apple AAPL year to date. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. Moreover, Netflix continues to expand its Korean content portfolio with a new documentary, Yellow Door: ’90s Lo-fi Film Club, which will offer a glimpse into the journey of Korean cinephilia in the 1990s.
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13453.0
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2023-09-26 00:00:00 UTC
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US STOCKS-Wall St poised for weak open as rate worries keep Treasury yields elevated
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-poised-for-weak-open-as-rate-worries-keep-treasury-yields-elevated
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By Ankika Biswas and Shashwat Chauhan
Sept 26 (Reuters) - Wall Street's main indexes were on track for a lower open on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy.
Adding to investor anxiety was the likelihood of a partial shutdown of the U.S. government by Sunday, which, according to ratings agency Moody's, is likely to be a "credit negative".
"A polarized political environment, uncertainty on macroeconomic conditions, and then you throw a government shutdown on top of it will create a gray area where there's no clear path," said Chris Giamo, head of commercial banking at TD Bank.
At 8:15 a.m. ET, Dow e-minis 1YMcv1 were down 111 points, or 0.32%, S&P 500 e-minis EScv1 were down 15.5 points, or 0.35%, and Nasdaq 100 e-minis NQcv1 were down 54.5 points, or 0.36%.
All three major U.S. stock indexes are set to log quarterly declines for the first time this year heading into the last trading days of September.
Pressuring equities, the benchmark two- and 10-year Treasury yields have scaled multi-year highs after the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks.
Traders' bets on the benchmark rate remaining unchanged in November and December stood close to 76% and 61%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 33% in June and July.
Investors will keep an eye out for the consumer confidence index for September and a report on new home sales for August, due after the opening bell.
Through the week, data including on durable goods, the personal consumption expenditures price index for August and second-quarter gross domestic product will be monitored for clues on inflation and the economic outlook.
Remarks by Fed policymakers such as Chair Jerome Powell will also be on investors' watch list this week, with a handful of them already corroborating the central bank's insistence to continue fighting against inflation above the 2% target.
Among single stocks, Moderna MRNA.O gained 1.1% on report the European Union is in talks with the company over a new procurement deal for its COVID-19 vaccines.
Immunovant IMVT.O surged 63.2% after the drug developer said its antibody treatment succeeded in an early-stage trial. Roivant Sciences ROIV.O, the company's largest shareholder as per LSEG data, was up 15.2%.
Sirius XM Holdings SIRI.O dropped 5.7% following Liberty Media's FWONA.O combination proposal with the satellite and online radio company.
(Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes were on track for a lower open on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. Through the week, data including on durable goods, the personal consumption expenditures price index for August and second-quarter gross domestic product will be monitored for clues on inflation and the economic outlook. Remarks by Fed policymakers such as Chair Jerome Powell will also be on investors' watch list this week, with a handful of them already corroborating the central bank's insistence to continue fighting against inflation above the 2% target.
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By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes were on track for a lower open on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. All three major U.S. stock indexes are set to log quarterly declines for the first time this year heading into the last trading days of September. (Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel) ((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes were on track for a lower open on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. Pressuring equities, the benchmark two- and 10-year Treasury yields have scaled multi-year highs after the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks. Through the week, data including on durable goods, the personal consumption expenditures price index for August and second-quarter gross domestic product will be monitored for clues on inflation and the economic outlook.
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By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes were on track for a lower open on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. Adding to investor anxiety was the likelihood of a partial shutdown of the U.S. government by Sunday, which, according to ratings agency Moody's, is likely to be a "credit negative". "A polarized political environment, uncertainty on macroeconomic conditions, and then you throw a government shutdown on top of it will create a gray area where there's no clear path," said Chris Giamo, head of commercial banking at TD Bank.
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13454.0
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2023-09-26 00:00:00 UTC
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US STOCKS-Futures drop as rate worries keep Treasury yields near recent peaks
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-drop-as-rate-worries-keep-treasury-yields-near-recent-peaks
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By Ankika Biswas and Shashwat Chauhan
Sept 26 (Reuters) - U.S. stock index futures declined on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy.
Adding to investor anxiety was the likelihood of a partial shutdown of the U.S. government by Sunday, which according to ratings agency Moody's is likely to be a "credit negative".
Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 1.3% in premarket trading.
Amazon.com shares AMZN.O also dipped 0.5% after boosting Wall Street on Monday on its plans to invest in the high-profile startup, Anthropic.
At 7:12 a.m. ET, Dow e-minis 1YMcv1 were down 157 points, or 0.46%, S&P 500 e-minis EScv1 were down 23.75 points, or 0.54%, and Nasdaq 100 e-minis NQcv1 were down 92.25 points, or 0.62%.
All three major U.S. stock indexes are set to log quarterly declines for the first time this year heading into the last trading days of September.
Pressuring equities, the benchmark two- and 10-year Treasury yields have scaled multi-year highs after the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks.
"There is a growing sense of despondency that rates will not come down any time soon, and that they will remain in restrictive territory for an extended period, hampering growth and making for a more difficult economic environment for companies to operate in," said Stuart Cole, chief macro economist at Equiti Capital.
Traders' bet on the benchmark rate remaining unchanged in November and December stood close to 80% and 59%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 33% in June and July.
Investors will keep an eye out for the consumer confidence index for September and a report on new home sales for August, due after the opening bell.
Through the week, data including on durable goods, the personal consumption expenditures price index for August, second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell will be monitored.
Minneapolis Fed President Neel Kashkari on Monday noted the need for raising borrowing costs to tame inflation in light of a surprisingly resilient economy, while Chicago Fed chief Austan Goolsbee in a CNBC interview said inflation above 2% target remains a greater risk than the scope of a slowing economy.
Meanwhile, a Goldman Sachs report showed hedge funds increased their bearish bets mainly on U.S. stocks last week, with clients mostly adding short positions and getting rid of long positions. Consumer discretionary, industrials and financials were the most net sold.
U.S.-listed shares of Chinese firms JD.com JD.O, PDD Holdings PDD.O and Xpeng XPEV.K were down between 1.3% and 3% on economic concerns and geopolitical tensions.
DraftKings DKNG.O rose 3% after J.P. Morgan upgraded the online sports and gaming company's stock to "overweight" from "neutral".
(Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 1.3% in premarket trading. By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - U.S. stock index futures declined on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. "There is a growing sense of despondency that rates will not come down any time soon, and that they will remain in restrictive territory for an extended period, hampering growth and making for a more difficult economic environment for companies to operate in," said Stuart Cole, chief macro economist at Equiti Capital.
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Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 1.3% in premarket trading. By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - U.S. stock index futures declined on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. (Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel) ((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 1.3% in premarket trading. By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - U.S. stock index futures declined on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. "There is a growing sense of despondency that rates will not come down any time soon, and that they will remain in restrictive territory for an extended period, hampering growth and making for a more difficult economic environment for companies to operate in," said Stuart Cole, chief macro economist at Equiti Capital.
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Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 1.3% in premarket trading. By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - U.S. stock index futures declined on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. Adding to investor anxiety was the likelihood of a partial shutdown of the U.S. government by Sunday, which according to ratings agency Moody's is likely to be a "credit negative".
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13455.0
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2023-09-26 00:00:00 UTC
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EXCLUSIVE-EU's Breton tells Apple CEO to open its ecosystem to rivals
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AAPL
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https://www.nasdaq.com/articles/exclusive-eus-breton-tells-apple-ceo-to-open-its-ecosystem-to-rivals
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nan
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nan
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BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called Apple CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem to its rivals.
Breton's comments came after meeting Cook in Brussels.
"The net job for Apple and other Big Tech, under the DMA (Digital Markets Act) is to open up its gates to competitors," Breton told Reuters.
The newly adopted DMA sets a list of dos and don'ts for Apple and other tech companies to increase competition.
(Reporting by Foo Yun Chee)
((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called Apple CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem to its rivals. "The net job for Apple and other Big Tech, under the DMA (Digital Markets Act) is to open up its gates to competitors," Breton told Reuters. The newly adopted DMA sets a list of dos and don'ts for Apple and other tech companies to increase competition.
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BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called Apple CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem to its rivals. Breton's comments came after meeting Cook in Brussels. (Reporting by Foo Yun Chee) ((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called Apple CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem to its rivals. "The net job for Apple and other Big Tech, under the DMA (Digital Markets Act) is to open up its gates to competitors," Breton told Reuters. (Reporting by Foo Yun Chee) ((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called Apple CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem to its rivals. Breton's comments came after meeting Cook in Brussels. "The net job for Apple and other Big Tech, under the DMA (Digital Markets Act) is to open up its gates to competitors," Breton told Reuters.
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13456.0
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2023-09-26 00:00:00 UTC
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EU's Breton tells Apple CEO to open its ecosystem to rivals
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AAPL
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https://www.nasdaq.com/articles/eus-breton-tells-apple-ceo-to-open-its-ecosystem-to-rivals
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nan
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nan
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By Foo Yun Chee
BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called on Apple AAPL.O CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem of hardware and software to rivals.
Breton's comments came after meeting Cook in Brussels.
"The next job for Apple and other Big Tech, under the DMA (Digital Markets Act) is to open up its gates to competitors," Breton told Reuters.
"Be it the electronic wallet, browsers or app stores, consumers using an Apple iPhone should be able to benefit from competitive services by a range of providers," he said.
Apple declined to comment.
The newly adopted DMA sets out a list of dos and don'ts for Apple and other tech companies to abide by to increase competition.
Breton also took aim at Apple's arguments that security and privacy issues are the reasons why it has a closed ecosystem.
"EU regulation fosters innovation, without compromising on security and privacy," he said.
(Reporting by Foo Yun Chee Editing by Mark Potter)
((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Foo Yun Chee BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called on Apple AAPL.O CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem of hardware and software to rivals. "The next job for Apple and other Big Tech, under the DMA (Digital Markets Act) is to open up its gates to competitors," Breton told Reuters. "Be it the electronic wallet, browsers or app stores, consumers using an Apple iPhone should be able to benefit from competitive services by a range of providers," he said.
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By Foo Yun Chee BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called on Apple AAPL.O CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem of hardware and software to rivals. Breton's comments came after meeting Cook in Brussels. (Reporting by Foo Yun Chee Editing by Mark Potter) ((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Foo Yun Chee BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called on Apple AAPL.O CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem of hardware and software to rivals. "The next job for Apple and other Big Tech, under the DMA (Digital Markets Act) is to open up its gates to competitors," Breton told Reuters. Breton also took aim at Apple's arguments that security and privacy issues are the reasons why it has a closed ecosystem.
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By Foo Yun Chee BRUSSELS, Sept 26 (Reuters) - EU industry chief Thierry Breton on Tuesday called on Apple AAPL.O CEO Tim Cook to open up the iPhone maker's fiercely guarded ecosystem of hardware and software to rivals. Breton's comments came after meeting Cook in Brussels. "The next job for Apple and other Big Tech, under the DMA (Digital Markets Act) is to open up its gates to competitors," Breton told Reuters.
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13457.0
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2023-09-26 00:00:00 UTC
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US STOCKS-Futures drop as rate concerns keep Treasury yields elevated
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-drop-as-rate-concerns-keep-treasury-yields-elevated
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Futures down: Dow 0.42%, S&P 0.50%, Nasdaq 0.57%
Sept 26 (Reuters) - U.S. stock index futures declined on Tuesday as investors continued to grapple with fears of a prolonged restrictive monetary policy by the Federal Reserve and its impact on the economy.
Adding to investor anxiety was the likelihood of a partial shutdown of the U.S. government by next Sunday, which according to ratings agency Moody's is likely to be a "credit negative".
Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 0.7% in premarket trading.
Amazon.com shares AMZN.O also shed 0.4% after boosting Wall Street on Monday on its plans to invest in the high-profile startup, Anthropic.
At 5:19 a.m. ET, Dow e-minis 1YMcv1 were down 145 points, or 0.42%, S&P 500 e-minis EScv1 were down 22 points, or 0.5%, and Nasdaq 100 e-minis NQcv1 were down 85.25 points, or 0.57%.
Pressuring equities, the benchmark two- and 10-year Treasury yields have scaled multi-year highs after the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks.
"There is a growing sense of despondency that rates will not come down any time soon, and that they will remain in restrictive territory for an extended period, hampering growth and making for a more difficult economic environment for companies to operate in," said Stuart Cole, chief macro economist at Equiti Capital.
Traders' bet on the benchmark rate remaining unchanged in November and December stood at 82% and 61%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 33% in June and July.
Investors will keep an eye out for the consumer confidence index for September and a report on new home sales for August, due after the opening bell.
Through the week, data including on durable goods, the personal consumption expenditures price index for August, second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell will be monitored.
Minneapolis Fed President Neel Kashkari on Monday noted the need for raising borrowing costs to tame inflation in light of a surprisingly resilient economy, while Chicago Fed chief Austan Goolsbee in a CNBC interview said inflation above 2% target remains a greater risk than the scope of a slowing economy.
U.S.-listed shares of Chinese firms JD.com JD.O, PDD Holdings PDD.O and Xpeng XPEV.K were down between 1.1% and 2.8% on economic concerns and geopolitical tensions.
(Reporting by Ankika Biswas in Bengaluru; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 0.7% in premarket trading. Pressuring equities, the benchmark two- and 10-year Treasury yields have scaled multi-year highs after the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks. "There is a growing sense of despondency that rates will not come down any time soon, and that they will remain in restrictive territory for an extended period, hampering growth and making for a more difficult economic environment for companies to operate in," said Stuart Cole, chief macro economist at Equiti Capital.
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Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 0.7% in premarket trading. Futures down: Dow 0.42%, S&P 0.50%, Nasdaq 0.57% Sept 26 (Reuters) - U.S. stock index futures declined on Tuesday as investors continued to grapple with fears of a prolonged restrictive monetary policy by the Federal Reserve and its impact on the economy. ET, Dow e-minis 1YMcv1 were down 145 points, or 0.42%, S&P 500 e-minis EScv1 were down 22 points, or 0.5%, and Nasdaq 100 e-minis NQcv1 were down 85.25 points, or 0.57%.
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Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 0.7% in premarket trading. Futures down: Dow 0.42%, S&P 0.50%, Nasdaq 0.57% Sept 26 (Reuters) - U.S. stock index futures declined on Tuesday as investors continued to grapple with fears of a prolonged restrictive monetary policy by the Federal Reserve and its impact on the economy. "There is a growing sense of despondency that rates will not come down any time soon, and that they will remain in restrictive territory for an extended period, hampering growth and making for a more difficult economic environment for companies to operate in," said Stuart Cole, chief macro economist at Equiti Capital.
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Megacap growth stocks including Apple AAPL.O, Microsoft MSFT.O, Meta Platforms META.O and Tesla TSLA.O lost between 0.5% and 0.7% in premarket trading. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Futures down: Dow 0.42%, S&P 0.50%, Nasdaq 0.57% Sept 26 (Reuters) - U.S. stock index futures declined on Tuesday as investors continued to grapple with fears of a prolonged restrictive monetary policy by the Federal Reserve and its impact on the economy.
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13458.0
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2023-09-26 00:00:00 UTC
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Sector Allocation Matters for Portfolio Dividend Yield
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AAPL
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https://www.nasdaq.com/articles/sector-allocation-matters-for-portfolio-dividend-yield
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nan
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nan
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Progressive financial advisors and investors have realized that a longtime popular stock market saying is not very accurate anymore, at least when it comes to investing for yield. That phrase is: “It’s not a stock market, it’s a market of stocks.” In other words, stock selection wins out over “owning the market.”
As it turns out, the truth is likely somewhere in between. When it comes to yield-driven portfolio management, sectors have taken a leading role versus generating “alpha” at the broad market or stock-specific level. The S&P 500 is divided into 11 different sectors via the Global Industry Classification Standard, the taxonomy system used by both S&P Dow Jones Indices and MSCI. For the opportunistic advisor or investor, these sectors represent 11 unique ways to drive dividend yield in a market where yield takes on a significantly different role than it has for about 15 years.
That’s because the Federal Reserve's series of 11 interest rate hikes since 2022 have vaulted the yield available on U.S. Treasury bills to around 5%. That is more than three times the 1.5% yield of the S&P 500 Index. And it is getting the attention of investors.
So when it comes to the equity portfolio of a yield-oriented portfolio, the hurdle rate is suddenly much higher. T-bills are, for the first time in years, carrying a payout rate in the vicinity of 4%-5%. Further, such yields are creeping out along the Treasury curve. Three-year bonds currently yield over 4.8%, and even five-year notes are at 4.6%. That ups the ante for dividend stocks in an environment like the current one. Total returns have been hard to come by for anything that carries a yield.
Dividend Farming for Yield
The “Magnificent Seven” -- Nvidia (NVDA), Meta Platforms (META), Amazon.com (AMZN), Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), and Tesla (TSLA) -- have dominated the U.S. stock market in 2023. That makes for a challenging environment for dividend investors.
Those huge tech stocks don’t yield much, if at all. And this might just be where sector allocation and pursuit of dividend yield come together like peanut butter and chocolate. By de-emphasizing what has just worked, refocusing on the quality implied by companies that pay out solid dividends, and taking more of a farming approach to cultivating dividend yield, investors might just be rewarded through an uneven stock market the rest of this decade.
The farming analogy works like this: Each of the 11 standard equity market sectors offers some stocks that are sufficient yielders for income investors and sell at valuations that don’t invite catastrophic risk. That is in stark contrast to the lower-yielding stocks, as was the case during the dot-com bubble, which has some similarities to today’s environment.
The ETF universe offers hundreds of dividend-focused funds. Some focus on stocks that have increased their dividend payment amount every year, such as the ProShares S&P Dividend Aristocrats ETF (NOBL). Others target the very-highest-yielding stocks, such as the SPDR Portfolio S&P 500 High Dividend ETF (SPYD).
Or it can be as straightforward as allocating evenly across sectors. In today’s market, that looks more attractive than it has in a while. Several sectors are selling at the upper end of their 10-year dividend yield ranges. Those include healthcare, consumer staples, financials, and basic materials. And since those sectors’ weightings in the S&P 500 and especially the Nasdaq-100 indexes pale in comparison to that of the tech sector, a neutralizing effect for sector exposure can instantly boost yield and improve valuation.
Dividend Dogs to the Rescue
An example is the ALPS Sector Dividend Dogs ETF (SDOG), an 11-year old, $1.1 billion fund. It seeks out the top-five-yielding stocks in each of the S&P 500 sectors, excluding REITs. That currently produces a portfolio that yields 4.5%. However, the stock mix has a forecasted yield of 5.3%, according to data from Ycharts. Furthermore, SDOG’s portfolio sells at 13.5X trailing 12-month earnings and 11.2X forward earnings. It also has a price to sales projection of less than 1X.
This all adds up to a combination of value, yield, and a built-in contrarian nature. And that's largely because SDOG gives the sectors equal billing. In a market that is crowded at the top, SDOG is a decided step away from what has worked in the previous years toward what could lead in the years ahead.
SDOG’s sister fund, the ALPS International Sector Dividend Dogs ETF (IDOG), is structured the same way, but invests in non-U.S. stocks. The fund came on the scene a year after SDOG. That said – as with many international strategies -- it has been more under the radar. Still, IDOG’s 60-stock portfolio sells at a mere 7X trailing earnings and yields 4.9%.
A quick look at the S&P 500’s paltry yield in the new era of 5% cash rates might cause some investors to look away from global equities for yield. But a slightly deeper dive reveals that portfolios can be constructed right now that offer competitive yields versus mega-cap-oriented funds, deep fundamental value, and an opportunity to use the current equity sector environment as a long-term total return opportunity.
For more news, information, and analysis, visit the ETF Building Blocks Channel.
Read more on ETFTrends.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dividend Farming for Yield The “Magnificent Seven” -- Nvidia (NVDA), Meta Platforms (META), Amazon.com (AMZN), Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), and Tesla (TSLA) -- have dominated the U.S. stock market in 2023. Progressive financial advisors and investors have realized that a longtime popular stock market saying is not very accurate anymore, at least when it comes to investing for yield. The farming analogy works like this: Each of the 11 standard equity market sectors offers some stocks that are sufficient yielders for income investors and sell at valuations that don’t invite catastrophic risk.
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Dividend Farming for Yield The “Magnificent Seven” -- Nvidia (NVDA), Meta Platforms (META), Amazon.com (AMZN), Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), and Tesla (TSLA) -- have dominated the U.S. stock market in 2023. The farming analogy works like this: Each of the 11 standard equity market sectors offers some stocks that are sufficient yielders for income investors and sell at valuations that don’t invite catastrophic risk. Dividend Dogs to the Rescue An example is the ALPS Sector Dividend Dogs ETF (SDOG), an 11-year old, $1.1 billion fund.
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Dividend Farming for Yield The “Magnificent Seven” -- Nvidia (NVDA), Meta Platforms (META), Amazon.com (AMZN), Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), and Tesla (TSLA) -- have dominated the U.S. stock market in 2023. For the opportunistic advisor or investor, these sectors represent 11 unique ways to drive dividend yield in a market where yield takes on a significantly different role than it has for about 15 years. By de-emphasizing what has just worked, refocusing on the quality implied by companies that pay out solid dividends, and taking more of a farming approach to cultivating dividend yield, investors might just be rewarded through an uneven stock market the rest of this decade.
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Dividend Farming for Yield The “Magnificent Seven” -- Nvidia (NVDA), Meta Platforms (META), Amazon.com (AMZN), Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), and Tesla (TSLA) -- have dominated the U.S. stock market in 2023. For the opportunistic advisor or investor, these sectors represent 11 unique ways to drive dividend yield in a market where yield takes on a significantly different role than it has for about 15 years. So when it comes to the equity portfolio of a yield-oriented portfolio, the hurdle rate is suddenly much higher.
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13459.0
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2023-09-26 00:00:00 UTC
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Berkshire Hathaway (BRK.B) Continues to Offload HP (HPQ) Shares
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AAPL
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https://www.nasdaq.com/articles/berkshire-hathaway-brk.b-continues-to-offload-hp-hpq-shares
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nan
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nan
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Warren Buffett’s Berkshire Hathaway Inc. (BRK.B) has offloaded another significant chunk of its position in HP Inc. HPQ, per filings last week, bringing down its total stake in the company to 11.2%. Last week alone, on three separate days, Berkshire Hathaway sold a total of $130 million worth of shares of HP.
In April 2022, Warren Buffett’s flagship company disclosed a $4.2 billion stake in HP despite ruling out the possibility a quarter of a century ago. In a 1998 meeting between Berkshire shareholders, Buffett was asked whether he would consider investing in tech companies like IBM, Intel, HP and Microsoft. He had rued the fact that he did not understand technology like he did other sectors, and hence could not predict winners for the future. "Well, the answer is no, and it's probably pretty unfortunate," he had said.
However, over the past decade, the legendary nonagenarian investor has warmed up to tech. By 2011, he had managed an estimated $12 billion stake in International Business Machines Corporation IBM and then piled up about $36 billion in Apple Inc. AAPL between 2016 and 2018. Berkshire's Apple holdings have skyrocketed in value to more than $150 billion, even as the IBM bet did not pay off.
So in 2022, when the news concerning Berkshire’s stake in HP came in, HP stock had gone up to a record intra-day high. However, it has tumbled more than 35% since, closing at $26.30 on Monday. In the last few weeks, Berkshire has sold more than million shares, approximately up to $300 million of its stake in the computing company.
HPs expected earnings growth rate for the current year is -19.1%. The Zacks Consensus Estimate for its current-year earnings has fallen 1.5% over the past 60 days. It currently carries a Zacks Rank #3 (Hold). On the other hand, Berkshire’s expected earnings growth rate for the current year is 13.2%. The Zacks Consensus Estimate for its current-year earnings has fallen 3% over the past 60 days. Berkshire also currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It is still not clear why Buffett’s company is reducing its stake in the tech giant. In fact, BRK.B has sold $33 billion of shares from its various positions over the last three quarters and has continued to bolster its cash reserves. Whether the prophetic investor is preparing for the rainy day, one will have to wait and watch.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By 2011, he had managed an estimated $12 billion stake in International Business Machines Corporation IBM and then piled up about $36 billion in Apple Inc. AAPL between 2016 and 2018. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report International Business Machines Corporation (IBM) : Free Stock Analysis Report Berkshire Hathaway Inc. (BRK.B) : Free Stock Analysis Report To read this article on Zacks.com click here. Warren Buffett’s Berkshire Hathaway Inc. (BRK.B) has offloaded another significant chunk of its position in HP Inc. HPQ, per filings last week, bringing down its total stake in the company to 11.2%.
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By 2011, he had managed an estimated $12 billion stake in International Business Machines Corporation IBM and then piled up about $36 billion in Apple Inc. AAPL between 2016 and 2018. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report International Business Machines Corporation (IBM) : Free Stock Analysis Report Berkshire Hathaway Inc. (BRK.B) : Free Stock Analysis Report To read this article on Zacks.com click here. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report International Business Machines Corporation (IBM) : Free Stock Analysis Report Berkshire Hathaway Inc. (BRK.B) : Free Stock Analysis Report To read this article on Zacks.com click here. By 2011, he had managed an estimated $12 billion stake in International Business Machines Corporation IBM and then piled up about $36 billion in Apple Inc. AAPL between 2016 and 2018. Warren Buffett’s Berkshire Hathaway Inc. (BRK.B) has offloaded another significant chunk of its position in HP Inc. HPQ, per filings last week, bringing down its total stake in the company to 11.2%.
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By 2011, he had managed an estimated $12 billion stake in International Business Machines Corporation IBM and then piled up about $36 billion in Apple Inc. AAPL between 2016 and 2018. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report International Business Machines Corporation (IBM) : Free Stock Analysis Report Berkshire Hathaway Inc. (BRK.B) : Free Stock Analysis Report To read this article on Zacks.com click here. However, over the past decade, the legendary nonagenarian investor has warmed up to tech.
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13460.0
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2023-09-26 00:00:00 UTC
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French authorities received a software update for Apple's iPhone 12 - ministry source
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https://www.nasdaq.com/articles/french-authorities-received-a-software-update-for-apples-iphone-12-ministry-source-0
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By Elizabeth Pineau
PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday.
The U.S. tech company had pledged to update the software to defuse a row over radiation levels. It had until Wednesday to do so after France suspended sales of iPhone 12 handsets following tests it said found breaches of radiation exposure limits.
Apple contested the findings, saying the iPhone 12 was certified by multiple international bodies as compliant with global standards, but said on Sept.15 it would issue a software update to accommodate the testing methods used in France.
Researchers have conducted a vast number of studies over the last two decades to assess the health risks of mobile phones. According to the World Health Organisation, no adverse health effects have been established as being caused by them.
But the radiation warning in France, based on results of tests that differ from those carried out in other countries, has prompted concerns across Europe and other countries, including Belgium, which asked to benefit from the software upgrade too.
Industry experts said there were no safety risks as regulatory limits, based on the risk of burns or heatstroke from the phone's radiation, were set well below levels where scientists have found evidence of harm.
Apple launched the iPhone 15 earlier this month and the iPhone 12 is not available to buy from Apple directly. It can, however, be bought from third parties that have inventory, or trade old phones.
A bigger issue would have been a potential recall, which France had threatened if Apple had refused to do a software update.
(Reporting by Elizabeth Pineau; Writing by Benoit Van Overstraeten and Ingrid Melander; Editing by Sharon Singleton)
((benoit.vanoverstraeten@thomsonreuters.com; +33149495339;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Elizabeth Pineau PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday. It had until Wednesday to do so after France suspended sales of iPhone 12 handsets following tests it said found breaches of radiation exposure limits. Apple contested the findings, saying the iPhone 12 was certified by multiple international bodies as compliant with global standards, but said on Sept.15 it would issue a software update to accommodate the testing methods used in France.
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By Elizabeth Pineau PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday. It had until Wednesday to do so after France suspended sales of iPhone 12 handsets following tests it said found breaches of radiation exposure limits. Apple contested the findings, saying the iPhone 12 was certified by multiple international bodies as compliant with global standards, but said on Sept.15 it would issue a software update to accommodate the testing methods used in France.
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By Elizabeth Pineau PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday. Apple contested the findings, saying the iPhone 12 was certified by multiple international bodies as compliant with global standards, but said on Sept.15 it would issue a software update to accommodate the testing methods used in France. Industry experts said there were no safety risks as regulatory limits, based on the risk of burns or heatstroke from the phone's radiation, were set well below levels where scientists have found evidence of harm.
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By Elizabeth Pineau PARIS, Sept 26 (Reuters) - French authorities have received a software update from Apple AAPL.O for its iPhone 12 and are reviewing it, a source at the French digital ministry told Reuters on Tuesday. Apple contested the findings, saying the iPhone 12 was certified by multiple international bodies as compliant with global standards, but said on Sept.15 it would issue a software update to accommodate the testing methods used in France. Researchers have conducted a vast number of studies over the last two decades to assess the health risks of mobile phones.
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2023-09-26 00:00:00 UTC
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The 3 Best and 2 Worst Sectors to Invest in as the Fed Signals ‘Higher for Longer’
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https://www.nasdaq.com/articles/the-3-best-and-2-worst-sectors-to-invest-in-as-the-fed-signals-higher-for-longer
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In the stock market’s glittering gala, all eyes are usually locked on the perceived “best sectors” – the rock stars of the investment world. But what about the industry appointed “worst sectors” – the wallflowers and underdogs? Don’t they deserve a little spotlight, too? Especially in the wake of the Fed’s latest interest rate decision, these often-ignored sectors can have a big impact on your portfolio’s performance.
Trust me, no one ever got to the top of the charts without understanding the full scope of the music industry – both hits and flops. So grab your financial VIP pass and get a front-row seat to the sectors hitting high notes and those struggling to stay in tune. Your portfolio’s setlist will thank you!
Best Sectors: Banking and Brokerage
Source: YummyBuum / Shutterstock
This sector stands to benefit from rising interest rates. As the Fed hikes rates, banks often experience wider net interest margins. Simply put, they can charge higher interest on loans than they pay on deposits, translating into increased profitability. Furthermore, brokerage firms thrive in such an environment, as higher rates can lead to greater trading activity and higher revenue from asset management fees.
Why Banking and Brokerage Shine:
Profit Margins: With interest rates climbing, banks can bolster their profitability through lending and investment operations.
Investor Activity: Brokerage firms are poised to attract more investors seeking returns in a higher-rate environment, potentially driving up trading volumes.
Diversification: These sectors provide diversification opportunities within the financial industry, reducing risk exposure.
While certain sectors gleam with promise, it’s vital to remember that the growth potential is not uniformly distributed in this emerging interest rate environment. Investors are advised to tread cautiously, especially in realms like utilities and real estate investment trusts (REITs), which traditionally lag amid ascending interest rates.
In conclusion, following the Federal Reserve’s decision to hike interest rates, the banking and brokerage sectors present attractive investment prospects. This is due to their potential for enhanced profitability and increased attractiveness to investors. However, prudent investors should consider their risk tolerance and diversify their portfolios wisely, balancing these opportunities with awareness of the worst-performing sectors in a rising rate environment.
Best Sectors: Technology
Source: Shutterstock
In the wake of the Fed’s interest rate decision, pinpointing the best and worst sectors for investment becomes crucial. Surprisingly, the tech sector stands strong despite traditional wisdom suggesting otherwise. Why? Tech companies are cash-rich. In a higher-for-longer-rate environment, having cash is like having an ace up your sleeve. These companies can finance growth without relying heavily on external debt, giving them a unique edge.
While higher rates often hit sectors dependent on financing harder, the tech sector bucks this trend. Companies like Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) hold vast cash reserves. This gives them greater flexibility and security, making them resilient investment options in rising rates. They can continue to innovate, acquire and expand without the burden of hefty interest payments.
Contrast this with some of the worst sectors to consider right now, like real estate and utilities. These are industries burdened by high debt and often seen as interest rate-sensitive. In the current scenario, they could struggle with increased financing costs, slowing growth.
So, if you’re looking to navigate the maze of post-Fed interest rate hikes, the tech sector is worth a closer look. Its inherent cash richness makes it one of the best sectors to bet on, even when rates rise.
Best Sectors: Healthcare
Source: Shutterstock
The recent Fed interest rate decision has sent ripples through various sectors, spotlighting the best and worst sectors for investment. One sector emerging as a prime candidate for attention is healthcare. Traditionally, healthcare stocks have shown resilience in a rising interest rate environment.
Healthcare’s status as a necessity, not a luxury, provides stability, regardless of the economic climate. This constant demand insulates healthcare from rate fluctuations, making it one of the best sectors to invest in.
Healthcare companies inelastic pricing power is also a huge plus. This means they can raise prices without losing customers, a significant advantage when borrowing costs increase. Higher rates generally translate to increased expenses, but healthcare companies can pass these on to consumers more easily than other sectors.
Lastly, many healthcare firms maintain strong balance sheets. They’re often flush with cash and have manageable debt levels, making them less vulnerable to interest rate hikes. While sectors like real estate may struggle with higher rates, healthcare often stands firm.
Overall, the Fed’s decision to keep interest rates higher for longer places healthcare squarely in the category of best sectors to consider. Its inherent demand, pricing power and strong financials make it a sturdy and attractive investment option.
Worst Sectors: Real Estate
Source: Stock-Asso / Shutterstock
The Federal Reserve’s fresh move hinting at protracted higher interest rates sends ripples of concern to the investment community. Amidst sectors poised to bloom, real estate starkly contrasts, marking itself as a potentially unwise investment choice. Here’s the inside scoop!
Higher interest rates typically make borrowing more expensive. In real estate, developers rely heavily on loans for new projects. When interest rates increase, these loans become pricier, slowing construction. This dampens the supply of new properties, making the sector less attractive for investments.
But it’s not just the developers who feel the pinch. Homebuyers also grapple with higher mortgage rates. This reduces the demand for homes, putting downward pressure on property prices. So, supply and demand factors are against the sector when rates rise.
The higher-for-longer stance by the Fed also impacts REITs. These trusts often use leverage to maximize returns. A rise in interest rates erodes their profit margins, making them less lucrative investments.
The Fed’s interest rate decision creates a challenging environment for the real estate sector. From developers to homebuyers to REIT investors, everyone faces headwinds. While other sectors might present solid investment opportunities in a higher-rate environment, real estate looks like a risky bet.
Worst Sectors: Housing Construction
Source: ARMMY PICCA/ShutterStock.com
When the Fed signals higher-for-longer rates, certain sectors feel more heat than others. Among the worst sectors to invest in following this decision is home construction.
Higher interest rates directly lead to pricier mortgages. For many, the dream of homeownership gets pushed further out of reach. With steeper mortgage rates, potential homeowners hesitate, fearing increased monthly payments. This hesitation cripples the demand for new homes.
Now, consider the home construction sector. They thrive when demand is high, and mortgage rates are attractive. But with the Fed’s latest decision, the tables have turned. Homebuilders face dwindling orders, fewer projects and mounting uncertainties. New construction projects get shelved, and growth in this sector slows to a crawl.
While some sectors might emerge as the best in light of the Fed’s actions, home construction isn’t one of them. Investors need to tread with caution. Keeping a keen eye on the economic landscape and the Fed’s future decisions is crucial. In this higher interest rate environment, the home construction sector’s potential for growth seems bleak.
On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.
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The post The 3 Best and 2 Worst Sectors to Invest in as the Fed Signals ‘Higher for Longer’ appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Companies like Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) hold vast cash reserves. Investors are advised to tread cautiously, especially in realms like utilities and real estate investment trusts (REITs), which traditionally lag amid ascending interest rates. Worst Sectors: Real Estate Source: Stock-Asso / Shutterstock The Federal Reserve’s fresh move hinting at protracted higher interest rates sends ripples of concern to the investment community.
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Companies like Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) hold vast cash reserves. In conclusion, following the Federal Reserve’s decision to hike interest rates, the banking and brokerage sectors present attractive investment prospects. Best Sectors: Healthcare Source: Shutterstock The recent Fed interest rate decision has sent ripples through various sectors, spotlighting the best and worst sectors for investment.
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Companies like Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) hold vast cash reserves. Best Sectors: Banking and Brokerage Source: YummyBuum / Shutterstock This sector stands to benefit from rising interest rates. Best Sectors: Technology Source: Shutterstock In the wake of the Fed’s interest rate decision, pinpointing the best and worst sectors for investment becomes crucial.
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Companies like Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) hold vast cash reserves. While sectors like real estate may struggle with higher rates, healthcare often stands firm. Among the worst sectors to invest in following this decision is home construction.
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13462.0
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2023-09-26 00:00:00 UTC
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Pegatron India's iPhone factory shutdown to go into day 3 after fire -sources
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https://www.nasdaq.com/articles/pegatron-indias-iphone-factory-shutdown-to-go-into-day-3-after-fire-sources
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By Praveen Paramasivam, Aditya Kalra and Munsif Vengattil
CHENGALPATTU, India Sept 26 (Reuters) - A production shutdown at Apple supplier Pegatron's 4938.TW India iPhone factory is expected to extend into Wednesday and disruptions could last longer as authorities investigate a fire at the Taiwanese firm's only India plant, four sources said.
Pegatron described the Sunday fire as a "spark incident" which caused no injuries and said has "no financial or operational impact to Pegatron Corporation", but called off all assembly shifts for Monday and Tuesday, Reuters previously reported.
Four sources briefed on the matter said Wednesday shifts were also unlikely. One of them said damage was being repaired at the plant in Chengalpattu area near the southern city of Chennai in Tamil Nadu state, and in the worst case the shutdown could last the entire week.
One of the sources said Apple representatives were collaborating with Pegatron after the incident.
Apple and Pegatron did not respond to requests for comment.
Pegatron has asked independent surveyors to assess the fire damage, a fifth source said.
The disruptions are the latest to impact Apple AAPL.O suppliers in India, a country where the U.S. giant is fast expanding manufacturing of iPhone and other devices for local market and exports. The affected Pegatron India plant accounts for 10% of Apple's iPhone production in the country.
FACTBOX - Recent disruptions at Apple facilities in India https://reut.rs/46rEcDg
(Reporting by Praveen Paramasivam, Aditya Kalra and Munsif Vengattil; Editing by Kim Coghill)
((aditya.kalra@thomsonreuters.com; @adityakalra;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The disruptions are the latest to impact Apple AAPL.O suppliers in India, a country where the U.S. giant is fast expanding manufacturing of iPhone and other devices for local market and exports. One of them said damage was being repaired at the plant in Chengalpattu area near the southern city of Chennai in Tamil Nadu state, and in the worst case the shutdown could last the entire week. FACTBOX - Recent disruptions at Apple facilities in India https://reut.rs/46rEcDg (Reporting by Praveen Paramasivam, Aditya Kalra and Munsif Vengattil; Editing by Kim Coghill) ((aditya.kalra@thomsonreuters.com; @adityakalra;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The disruptions are the latest to impact Apple AAPL.O suppliers in India, a country where the U.S. giant is fast expanding manufacturing of iPhone and other devices for local market and exports. By Praveen Paramasivam, Aditya Kalra and Munsif Vengattil CHENGALPATTU, India Sept 26 (Reuters) - A production shutdown at Apple supplier Pegatron's 4938.TW India iPhone factory is expected to extend into Wednesday and disruptions could last longer as authorities investigate a fire at the Taiwanese firm's only India plant, four sources said. The affected Pegatron India plant accounts for 10% of Apple's iPhone production in the country.
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The disruptions are the latest to impact Apple AAPL.O suppliers in India, a country where the U.S. giant is fast expanding manufacturing of iPhone and other devices for local market and exports. By Praveen Paramasivam, Aditya Kalra and Munsif Vengattil CHENGALPATTU, India Sept 26 (Reuters) - A production shutdown at Apple supplier Pegatron's 4938.TW India iPhone factory is expected to extend into Wednesday and disruptions could last longer as authorities investigate a fire at the Taiwanese firm's only India plant, four sources said. Pegatron described the Sunday fire as a "spark incident" which caused no injuries and said has "no financial or operational impact to Pegatron Corporation", but called off all assembly shifts for Monday and Tuesday, Reuters previously reported.
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The disruptions are the latest to impact Apple AAPL.O suppliers in India, a country where the U.S. giant is fast expanding manufacturing of iPhone and other devices for local market and exports. By Praveen Paramasivam, Aditya Kalra and Munsif Vengattil CHENGALPATTU, India Sept 26 (Reuters) - A production shutdown at Apple supplier Pegatron's 4938.TW India iPhone factory is expected to extend into Wednesday and disruptions could last longer as authorities investigate a fire at the Taiwanese firm's only India plant, four sources said. Pegatron described the Sunday fire as a "spark incident" which caused no injuries and said has "no financial or operational impact to Pegatron Corporation", but called off all assembly shifts for Monday and Tuesday, Reuters previously reported.
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13463.0
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2023-09-26 00:00:00 UTC
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US STOCKS-Wall St declines as rate worries keep Treasury yields elevated
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https://www.nasdaq.com/articles/us-stocks-wall-st-declines-as-rate-worries-keep-treasury-yields-elevated
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By Ankika Biswas and Shashwat Chauhan
Sept 26 (Reuters) - Wall Street's main indexes dropped on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy.
All 11 S&P 500 sectors were trading lower, with real estate .SPLRCR, utilities .SPLRCU and information technology .SPLRCT the worst hit, down between 0.8% and 1.3%.
At 9:35 a.m. ET, the Dow Jones Industrial Average .DJI was down 143.25 points, or 0.42%, at 33,863.63, the S&P 500 .SPX was down 26.60 points, or 0.61%, at 4,310.84, and the Nasdaq Composite .IXIC was down 90.36 points, or 0.68%, at 13,180.96.
All three major U.S. stock indexes are set to log quarterly declines for the first time this year heading into the last trading days of September.
Pressuring equities, the benchmark two- and 10-year Treasury yields have scaled multi-year highs after the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks.
Traders' bets on the benchmark rate remaining unchanged in November and December stood close to 75% and 59%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 33% in June and July.
Adding to investor anxiety was the likelihood of a partial shutdown of the U.S. government by Sunday, which, according to ratings agency Moody's, is likely to be a "credit negative".
"A polarized political environment, uncertainty on macroeconomic conditions, and then you throw a government shutdown on top of it will create a gray area where there's no clear path," TD Bank's Giamo added.
Through the week, data including on durable goods, the personal consumption expenditures price index for August, second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell will be monitored.
Among individual stocks, Immunovant IMVT.O surged 77% after the drug developer said its antibody treatment succeeded in an early-stage trial. Roivant Sciences ROIV.O, the company's largest shareholder as per LSEG data, was up 15.2%.
Edwards Lifesciences EW.N rose 1.4% after Oppenheimer upgraded the medical device maker's stock to "outperform".
Sirius XM HoldingsSIRI.O lost 11% following Liberty Media's FWONA.O merger proposal with the radio company.
Declining issues outnumbered advancers for a 4.67-to-1 ratio on the NYSE and a 1.67-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and 21 new lows, while the Nasdaq recorded nine new highs and 114 new lows.
(Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel)
((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes dropped on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. "A polarized political environment, uncertainty on macroeconomic conditions, and then you throw a government shutdown on top of it will create a gray area where there's no clear path," TD Bank's Giamo added. Through the week, data including on durable goods, the personal consumption expenditures price index for August, second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell will be monitored.
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By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes dropped on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. The S&P index recorded no new 52-week high and 21 new lows, while the Nasdaq recorded nine new highs and 114 new lows. (Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Maju Samuel) ((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Pressuring equities, the benchmark two- and 10-year Treasury yields have scaled multi-year highs after the Fed's hawkish longer-term rate outlook, a stance also projected by other major central banks. Through the week, data including on durable goods, the personal consumption expenditures price index for August, second-quarter gross domestic product, as well as remarks by Fed policymakers such as Chair Jerome Powell will be monitored. The S&P index recorded no new 52-week high and 21 new lows, while the Nasdaq recorded nine new highs and 114 new lows.
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By Ankika Biswas and Shashwat Chauhan Sept 26 (Reuters) - Wall Street's main indexes dropped on Tuesday as investors continued to grapple with the prospects of a prolonged restrictive monetary policy by the Federal Reserve and its subsequent impact on the economy. All 11 S&P 500 sectors were trading lower, with real estate .SPLRCR, utilities .SPLRCU and information technology .SPLRCT the worst hit, down between 0.8% and 1.3%. ET, the Dow Jones Industrial Average .DJI was down 143.25 points, or 0.42%, at 33,863.63, the S&P 500 .SPX was down 26.60 points, or 0.61%, at 4,310.84, and the Nasdaq Composite .IXIC was down 90.36 points, or 0.68%, at 13,180.96.
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13464.0
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2023-09-25 00:00:00 UTC
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OpenAI's ChatGPT will 'see, hear and speak' in major update
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https://www.nasdaq.com/articles/openais-chatgpt-will-see-hear-and-speak-in-major-update
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Sept 25 (Reuters) - OpenAI's ChatGPT is getting a major update that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri.
The voice feature "opens doors to many creative and accessibility-focused applications", OpenAI said in a blog post on Monday.
Similar AI services like Siri, Google GOOGL.O voice assistant and Amazon.com's AMZN.O Alexa are integrated with the devices they run on and are often used to set alarms and reminders, and deliver information off the internet.
Since its debut last year, ChatGPT has been adopted by companies for a wide range of tasks from summarizing documents to writing computer code, setting off a race amongst Big Tech companies to launch their own offerings based on generative AI.
ChatGPT's new voice feature can also narrate bedtime stories, settle debates at the dinner table, and speak out loud text input from users.
The technology behind it is being used by Spotify SPOT.N for the platform's podcasters to translate their content in different languages, OpenAI said.
With images support, users can take pictures of things around them and ask the chatbot to "troubleshoot why your grill won't start, explore the contents of your fridge to plan a meal, or analyze a complex graph for work-related data".
Alphabet's Google Lens is currently the popular choice to gain information on images.
The new ChatGPT features will be released for subscribers of its Plus and Enterprise plans over the next two weeks.
(Reporting by Zaheer Kachwala and Yuvraj Malik in Bengaluru; Editing by Devika Syamnath)
((yuvraj.malik@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sept 25 (Reuters) - OpenAI's ChatGPT is getting a major update that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri. Similar AI services like Siri, Google GOOGL.O voice assistant and Amazon.com's AMZN.O Alexa are integrated with the devices they run on and are often used to set alarms and reminders, and deliver information off the internet. With images support, users can take pictures of things around them and ask the chatbot to "troubleshoot why your grill won't start, explore the contents of your fridge to plan a meal, or analyze a complex graph for work-related data".
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Sept 25 (Reuters) - OpenAI's ChatGPT is getting a major update that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri. Similar AI services like Siri, Google GOOGL.O voice assistant and Amazon.com's AMZN.O Alexa are integrated with the devices they run on and are often used to set alarms and reminders, and deliver information off the internet. ChatGPT's new voice feature can also narrate bedtime stories, settle debates at the dinner table, and speak out loud text input from users.
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Sept 25 (Reuters) - OpenAI's ChatGPT is getting a major update that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri. Since its debut last year, ChatGPT has been adopted by companies for a wide range of tasks from summarizing documents to writing computer code, setting off a race amongst Big Tech companies to launch their own offerings based on generative AI. With images support, users can take pictures of things around them and ask the chatbot to "troubleshoot why your grill won't start, explore the contents of your fridge to plan a meal, or analyze a complex graph for work-related data".
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Sept 25 (Reuters) - OpenAI's ChatGPT is getting a major update that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri. The voice feature "opens doors to many creative and accessibility-focused applications", OpenAI said in a blog post on Monday. Similar AI services like Siri, Google GOOGL.O voice assistant and Amazon.com's AMZN.O Alexa are integrated with the devices they run on and are often used to set alarms and reminders, and deliver information off the internet.
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13465.0
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2023-09-25 00:00:00 UTC
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Netflix (NFLX) Expands Portfolio With New Italian Content
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https://www.nasdaq.com/articles/netflix-nflx-expands-portfolio-with-new-italian-content
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Netflix NFLX is having a steady run in 2023, with shares rising 28.8% year to date compared with the Zacks Consumer Discretionary sector’s increase of 4.6%. The upside can be attributed to an expanding subscriber base and robust content offerings.
Netflix continues to bolster its international content portfolio. Italy plays a prominent role in this endeavour through an extensive lineup that includes a wide range of series, films, docuseries and unscripted shows spanning diverse genres, formats and languages.
Netflix recently announced four captivating new projects, including Il treno dei bambini, an in-depth exploration of postwar Italy and Fabbricante di lacrime, based on a popular book. Additionally, two fresh series, Storia della mia famiglia and Adorazione, provide deep explorations of intricate family dynamics and young adult experiences.
Expanding Portfolio Aids Growth
Netflix is anticipated to gain from its diversified content portfolio, driven by substantial investments in producing and distributing localized, foreign-language content.
Netflix is expanding its international content library with the addition of German Originals like Dear Child and K-dramas, including Time Called You and Destined With You.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
While Dear Child is placed second in the weekly Top 10 Non-English TV charts with 15.4 million views, Destined With You and Time Called You is ranked second and fourth with 2 million and 3 million views, respectively.
This robust momentum in Netflix's foreign-language offerings is expected to boost its top-line growth, even in the face of fierce competition from streaming peers, including Apple AAPL, Disney DIS and Amazon AMZN.
Shares of Apple and Amazon have returned 34.5% and 53.7%, respectively, on a year-to-date basis. Disney’s shares have declined 6.5%.
For the third quarter of 2023, Netflix forecasts earnings of $3.52 per share, indicating an almost 10% increase from the figure reported in the year-ago quarter. Total revenues are anticipated to be $8.52 billion, suggesting growth of 7% year over year and on a forex-neutral basis.
The Zacks Consensus Estimate for Netflix's third-quarter revenue is pegged at $8.53 billion, indicating a 7.59% year-over-year growth. The consensus mark for earnings increased by a penny in the past 30 days to $3.49 per share.
Currently, Netflix has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
The Walt Disney Company (DIS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This robust momentum in Netflix's foreign-language offerings is expected to boost its top-line growth, even in the face of fierce competition from streaming peers, including Apple AAPL, Disney DIS and Amazon AMZN. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. Italy plays a prominent role in this endeavour through an extensive lineup that includes a wide range of series, films, docuseries and unscripted shows spanning diverse genres, formats and languages.
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This robust momentum in Netflix's foreign-language offerings is expected to boost its top-line growth, even in the face of fierce competition from streaming peers, including Apple AAPL, Disney DIS and Amazon AMZN. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. Expanding Portfolio Aids Growth Netflix is anticipated to gain from its diversified content portfolio, driven by substantial investments in producing and distributing localized, foreign-language content.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. This robust momentum in Netflix's foreign-language offerings is expected to boost its top-line growth, even in the face of fierce competition from streaming peers, including Apple AAPL, Disney DIS and Amazon AMZN. Expanding Portfolio Aids Growth Netflix is anticipated to gain from its diversified content portfolio, driven by substantial investments in producing and distributing localized, foreign-language content.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report To read this article on Zacks.com click here. This robust momentum in Netflix's foreign-language offerings is expected to boost its top-line growth, even in the face of fierce competition from streaming peers, including Apple AAPL, Disney DIS and Amazon AMZN. Shares of Apple and Amazon have returned 34.5% and 53.7%, respectively, on a year-to-date basis.
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13466.0
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2023-09-25 00:00:00 UTC
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3 Stocks Under $2 That Could Rally More Than 90%, According to Wall Street
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AAPL
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https://www.nasdaq.com/articles/3-stocks-under-%242-that-could-rally-more-than-90-according-to-wall-street
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Cheap or lower-priced stocks have the potential to deliver exponential gains to shareholders over time. Typically, stocks priced below $5 are referred to as “penny stocks,” which might make investors wary of buying into these companies. However, mega-cap tech giants like Apple (AAPL) and Amazon (AMZN) were once penny stocks, too, and ultimately helped early shareholders build generational wealth over time.
While there are always risks associated with investing in equities, no matter how low-priced, here's a spotlight on three stocks under $2 that could be poised to deliver money-doubling returns over the long term, according to Wall Street.
Pagaya Technologies
Valued at a market cap of $1.15 billion, Pagaya Technologies (PGY) is a fintech company that develops and implements artificial intelligence (AI)-powered software solutions for enterprises. Its proprietary portfolio of products is used by banks, auto finance providers, real estate service providers, and other lending companies to assist them in the loan origination process.
PGY is currently priced at $1.62, and shares are trading about 95% below their all-time highs.
www.barchart.com
The company ended Q2 of 2023 with a network volume of $1.96 billion - which was higher than its earlier guidance, primarily driven by growth in the personal loan segment and new partners in verticals such as auto and point-of-sale.
Sales grew by 8% year-over-year to $195.6 million in Q2, and Pagaya is on track to end 2023 with revenue of $799 million. While still unprofitable, the loss per share is expected to narrow substantially from $0.69 in 2022 to $0.03 in 2024.
Pagaya raised $3.1 billion across seven asset-backed securitizations in the first two quarters of 2023, and was recognized as the number one player in this segment in the U.S. in terms of issuance size.
Out of the six analysts tracking PGY, four recommend “ strong buy,” and two recommend “hold.” Wall Street has an average price target of $3.43, which is 111% above current trading prices.
www.barchart.com
Ginkgo Bioworks
Ginkgo Bioworks (DNA) is engaged in the cell programming segment. Its platform is used to program cells that enable the biological production of novel therapeutics, petroleum-derived chemicals, and food ingredients.
The company leverages its genetic engineering capabilities to produce microorganisms that are used in different industrial applications, and Ginkgo serves multiple end markets, ranging from specialty chemicals, agriculture, consumer products, and pharmaceuticals. Widening demand for foundry services has allowed Gingko to end Q2 with 63 active customers, up from 36 in the year-ago quarter.
Priced at $1.75 per share, Gingko is valued at a market cap of $3.71 billion.
Out of the eight analysts covering DNA, three recommend “strong buy,” one recommends “moderate buy,” two recommend “hold,” one recommends “moderate sell,” and one has a “strong sell” recommendation. The average analyst price target is $3.38, indicating upside potential of 93%.
www.barchart.com
Canoo
The final stock on my list is Canoo (GOEV), a mobility technology company. It designs, engineers, and manufactures electric vehicles (EVs) that include multi-purpose delivery vehicles and pickups.
Canoo has famously struggled to generate revenue, let alone profits - but is forecast to end 2024 with revenue of $625 million.
The EV segment is growing rapidly, but is also attracting competition from new and legacy auto manufacturers. Moreover, the auto segment is capital intensive, which suggests Canoo will have to keep raising capital to sustain its cash burn rate before it turns profitable and benefits from economies of scale. As a result, the small automaker has been floated as a potential takeover target, with Apple (AAPL) repeatedly emerging as a rumored suitor.
Canoo ended Q2 with $5 million in cash, and expects to invest between $70 million and $100 million in capital expenditures. In August, it raised $56.2 million via a convertible stock offering, diluting existing shareholder wealth.
Out of the four analysts tracking GOEV, three recommend “strong buy,” and one recommends “hold.” The average price target for Canoo stock is $3.11, which is a 623% premium to the stock's current price.
www.barchart.com
On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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However, mega-cap tech giants like Apple (AAPL) and Amazon (AMZN) were once penny stocks, too, and ultimately helped early shareholders build generational wealth over time. As a result, the small automaker has been floated as a potential takeover target, with Apple (AAPL) repeatedly emerging as a rumored suitor. www.barchart.com The company ended Q2 of 2023 with a network volume of $1.96 billion - which was higher than its earlier guidance, primarily driven by growth in the personal loan segment and new partners in verticals such as auto and point-of-sale.
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However, mega-cap tech giants like Apple (AAPL) and Amazon (AMZN) were once penny stocks, too, and ultimately helped early shareholders build generational wealth over time. As a result, the small automaker has been floated as a potential takeover target, with Apple (AAPL) repeatedly emerging as a rumored suitor. Out of the six analysts tracking PGY, four recommend “ strong buy,” and two recommend “hold.” Wall Street has an average price target of $3.43, which is 111% above current trading prices.
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However, mega-cap tech giants like Apple (AAPL) and Amazon (AMZN) were once penny stocks, too, and ultimately helped early shareholders build generational wealth over time. As a result, the small automaker has been floated as a potential takeover target, with Apple (AAPL) repeatedly emerging as a rumored suitor. Out of the six analysts tracking PGY, four recommend “ strong buy,” and two recommend “hold.” Wall Street has an average price target of $3.43, which is 111% above current trading prices.
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However, mega-cap tech giants like Apple (AAPL) and Amazon (AMZN) were once penny stocks, too, and ultimately helped early shareholders build generational wealth over time. As a result, the small automaker has been floated as a potential takeover target, with Apple (AAPL) repeatedly emerging as a rumored suitor. Out of the six analysts tracking PGY, four recommend “ strong buy,” and two recommend “hold.” Wall Street has an average price target of $3.43, which is 111% above current trading prices.
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13467.0
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2023-09-25 00:00:00 UTC
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Morgan Stanley Reiterates Apple (AAPL) Overweight Recommendation
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AAPL
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https://www.nasdaq.com/articles/morgan-stanley-reiterates-apple-aapl-overweight-recommendation-0
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Fintel reports that on September 25, 2023, Morgan Stanley reiterated coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation.
Analyst Price Forecast Suggests 17.11% Upside
As of August 31, 2023, the average one-year price target for Apple is 204.70. The forecasts range from a low of 150.49 to a high of $252.00. The average price target represents an increase of 17.11% from its latest reported closing price of 174.79.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 413,641MM, an increase of 7.74%. The projected annual non-GAAP EPS is 6.36.
For more in-depth coverage of Apple, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 6416 funds or institutions reporting positions in Apple. This is an increase of 27 owner(s) or 0.42% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 8.19%. Total shares owned by institutions increased in the last three months by 0.28% to 9,941,665K shares.
The put/call ratio of AAPL is 0.89, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 915,560K shares representing 5.86% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 465,990K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 465,280K shares, representing an increase of 0.15%. The firm increased its portfolio allocation in AAPL by 8.69% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 352,024K shares representing 2.25% ownership of the company. In it's prior filing, the firm reported owning 347,041K shares, representing an increase of 1.42%. The firm increased its portfolio allocation in AAPL by 8.07% over the last quarter.
Geode Capital Management holds 291,538K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 285,171K shares, representing an increase of 2.18%. The firm increased its portfolio allocation in AAPL by 8.78% over the last quarter.
Price T Rowe Associates holds 226,651K shares representing 1.45% ownership of the company. In it's prior filing, the firm reported owning 234,017K shares, representing a decrease of 3.25%. The firm increased its portfolio allocation in AAPL by 139.25% over the last quarter.
Apple Background Information
(This description is provided by the company.)
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Five companies in the U.S. information technology industry, along with Amazon, Google, Microsoft, and Facebook. Its hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, the AirPods wireless earbuds, the AirPods Max headphones, and the HomePod smart speaker line. Apple's software includes iOS, iPadOS, macOS, watchOS, and tvOS operating systems, the iTunes media player, the Safari web browser, the Shazam music identifier, and the iLife and iWork creativity and productivity suites, as well as professional applications like Final Cut Pro X, Logic Pro, and Xcode. Its online services include the iTunes Store, the iOS App Store, Mac App Store, Apple Arcade, Apple Music, Apple TV+, iMessage, and iCloud. Other services include Apple Store, Genius Bar, AppleCare, Apple Pay, Apple Pay Cash, and Apple Card. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak's Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple I and Apple II, grew quickly.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Fintel reports that on September 25, 2023, Morgan Stanley reiterated coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 8.19%. The put/call ratio of AAPL is 0.89, indicating a bullish outlook.
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Fintel reports that on September 25, 2023, Morgan Stanley reiterated coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 8.19%. The put/call ratio of AAPL is 0.89, indicating a bullish outlook.
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Fintel reports that on September 25, 2023, Morgan Stanley reiterated coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 8.19%. The put/call ratio of AAPL is 0.89, indicating a bullish outlook.
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Fintel reports that on September 25, 2023, Morgan Stanley reiterated coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 8.19%. The put/call ratio of AAPL is 0.89, indicating a bullish outlook.
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13468.0
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2023-09-25 00:00:00 UTC
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Mexico eyes US energy exports from solar farm, chip supply chain role
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AAPL
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https://www.nasdaq.com/articles/mexico-eyes-us-energy-exports-from-solar-farm-chip-supply-chain-role-0
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nan
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nan
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Repeats to fix formatting, no changes to text
TAIPEI, Sept 26 (Reuters) - Mexico's northern state of Sonora wants to export clean energy to California and Arizona from a massive new solar farm project and play a role in the chip supply chain given TSMC's 2330.TW $40 billion investment in Arizona, Sonora's governor said.
The first phase of the Puerto Penasco solar plant in the sprawling border state, which boasts some of the highest temperatures in the country, was inaugurated in February as part of Mexican President Andres Manuel Lopez Obrador's flagship solar push, which officials have said could boast four additional plants.
During a visit to Taiwan, Sonora Governor Alfonso Durazo said the "Plan Sonora" solar energy project would not only help improve domestic connectivity to the national grid, but also to export to the United States.
"Not only Arizona, but also California. It's part of its objective," he told Reuters on Monday. "We want to convert our state into an exporter of clean energy, particularly for semiconductor and electric vehicle industries."
Durazo said he would be meeting major Apple AAPL.O supplier Foxconn 2317.TW while he was in Taipei to discuss possible investment in his state, though was not planning to meet TSMC.
Foxconn, which has made electric vehicles a major part of its future development strategy, has large operations in Mexico but no plants in Sonora.
"Our interest in Foxconn is in establishing semiconductor plants, and also, eventually, factories of some or all the stages of e-mobility," added Durazo, who is only visiting Taiwan on this overseas trip.
Durazo said he would like a TSMC chip plant in his state, and that he would be visiting the Hsinchu Science Park, where the chipmaker does much of its manufacturing in Taiwan.
"Assuming as a natural complement of all these processes of relocation of investment in Arizona, we also see TSMC as an obvious option for Sonora state," he said.
Foxconn and TSMC both declined to comment.
Sonora also boasts major lithium deposits, which Lopez Obrador formally nationalised in Mexico earlier this year.
Mexico has yet to begin production of the metal, which is a key component for EV batteries.
To facilitate production, Durazo underlined that private investors would be able to partner up with the incipient national lithium company LitioMx on the condition they established supply chains in Sonora.
(Reporting by Ben Blanchard and Carlos Garcia; Editing by Jamie Freed)
((ben.blanchard@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Durazo said he would be meeting major Apple AAPL.O supplier Foxconn 2317.TW while he was in Taipei to discuss possible investment in his state, though was not planning to meet TSMC. Foxconn, which has made electric vehicles a major part of its future development strategy, has large operations in Mexico but no plants in Sonora. "Our interest in Foxconn is in establishing semiconductor plants, and also, eventually, factories of some or all the stages of e-mobility," added Durazo, who is only visiting Taiwan on this overseas trip.
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Durazo said he would be meeting major Apple AAPL.O supplier Foxconn 2317.TW while he was in Taipei to discuss possible investment in his state, though was not planning to meet TSMC. Repeats to fix formatting, no changes to text TAIPEI, Sept 26 (Reuters) - Mexico's northern state of Sonora wants to export clean energy to California and Arizona from a massive new solar farm project and play a role in the chip supply chain given TSMC's 2330.TW $40 billion investment in Arizona, Sonora's governor said. During a visit to Taiwan, Sonora Governor Alfonso Durazo said the "Plan Sonora" solar energy project would not only help improve domestic connectivity to the national grid, but also to export to the United States.
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Durazo said he would be meeting major Apple AAPL.O supplier Foxconn 2317.TW while he was in Taipei to discuss possible investment in his state, though was not planning to meet TSMC. Repeats to fix formatting, no changes to text TAIPEI, Sept 26 (Reuters) - Mexico's northern state of Sonora wants to export clean energy to California and Arizona from a massive new solar farm project and play a role in the chip supply chain given TSMC's 2330.TW $40 billion investment in Arizona, Sonora's governor said. The first phase of the Puerto Penasco solar plant in the sprawling border state, which boasts some of the highest temperatures in the country, was inaugurated in February as part of Mexican President Andres Manuel Lopez Obrador's flagship solar push, which officials have said could boast four additional plants.
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Durazo said he would be meeting major Apple AAPL.O supplier Foxconn 2317.TW while he was in Taipei to discuss possible investment in his state, though was not planning to meet TSMC. Repeats to fix formatting, no changes to text TAIPEI, Sept 26 (Reuters) - Mexico's northern state of Sonora wants to export clean energy to California and Arizona from a massive new solar farm project and play a role in the chip supply chain given TSMC's 2330.TW $40 billion investment in Arizona, Sonora's governor said. Durazo said he would like a TSMC chip plant in his state, and that he would be visiting the Hsinchu Science Park, where the chipmaker does much of its manufacturing in Taiwan.
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13469.0
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2023-09-25 00:00:00 UTC
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USMC: Bigger is Better with This Mega-Cap ETF
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AAPL
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https://www.nasdaq.com/articles/usmc%3A-bigger-is-better-with-this-mega-cap-etf
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nan
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nan
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The Principal U.S. Mega-Cap ETF (NASDAQ:USMC) believes that bigger is better, as it invests in the largest S&P 500 (SPX) companies. Is this a viable strategy and worth a look from investors? Let’s find out.
What is the USMC ETF's Strategy?
The Principal U.S. Mega-Cap ETF pursues long-term capital appreciation by investing in U.S. companies “with very large (‘mega’) market capitalizations at the time of purchase,” according to Principal Asset Management. It defines companies with mega market caps as those with market caps in the top 50th percentile of the S&P 500.
Why focus on these large companies? Principal says that investing in mega-cap stocks offers a multitude of advantages. These stocks typically have strong balance sheets, offer ample liquidity, and have well-known brands. Principal also says that these types of stocks typically provide more durability and stability during volatile market environments.
These points make a lot of sense -- you don’t achieve a market cap worth hundreds of billions of dollars and hit mega-cap status by being a subpar company, so there’s something to be said for this strategy. But how does it play out in the real world in terms of results? Let’s find out below.
USMC's Long-Term Performance
It turns out that this mega-cap-focused strategy has been a pretty effective one over time. USMC has returned 20.6% year-to-date in 2023 and 27.1% over the past year. Looking further out, as of the end of August, its three-year annualized return of 11.5% is also impressive, and its five-year annualized return of 12.0% is even better. The fund only launched in 2017, so it doesn’t yet have a 10-year return to measure. However, since its inception in October of 2017, USMC has posted an annualized return of 12.2%.
These returns are actually better than those of the broader market, putting USMC into an enviable position as one of the ETFs that can say it has beaten the market over time. For comparison, the Vanguard S&P 500 ETF (NYSEARCA:VOO), a good representation of the S&P 500, has returned 14.3% year-to-date and 20.1% over the past year.
Also, as of the end of August, VOO returned 10.5% and 11.11% over the past three and five years, respectively, on an annualized basis, meaning that USMC slightly outperformed it over these timeframes as well.
Below, you can take a look at a comparison of USMC and VOO using TipRank’s ETF comparison tool, which enables investors to compare up to 20 ETFs at a time across a wide range of criteria, including expense ratios, assets under management (AUM), and performance over a variety of time horizons.
Reasonable Expense Ratio
In addition to producing market-beating results over the past five years, USMC is also a fairly cost-effective ETF, with a reasonable expense ratio of 0.12%. An investor allocating $10,000 into USMC would pay just $12 in fees during their first year of investing. If the fund returns 5% per year and the expense ratio remains at 0.12%, this investor would pay just $45 in fees after three years, $82 in fees after five years, and $189 after 10 years.
Investing in low-cost ETFs like this allows investors to protect their principal investment and reap more of the rewards from their gains over time.
Additionally, it's worth noting that USMC is a dividend payer, although its current dividend yield of 1.4% isn't really significant enough to attract dividend investors.
Mega-Cap Holdings
USMC is not especially diversified, but it isn't alarmingly concentrated either. The ETF holds 43 positions, and its top 10 holdings combine to make up 40.8% of the fund. Below, you’ll find an overview of USMC’s top 10 holdings using TipRanks’ holdings tool.
You likely won’t be surprised to see Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the world’s two largest companies by market value, at the top of USMC’s list of holdings. USMC gives investors plenty of exposure to the "Magnificent Seven" stocks with these two, plus Alphabet (NASDAQ:GOOGL), Tesla (NASDAQ:TSLA), and Nvidia (NASDAQ:NVDA).
Other members of the Magnificent Seven, like Meta Platforms (NASDAQ:META) and Amazon (NASDAQ:AMZN) appear further down the list of USMC's holdings. The ETF also adds to this large-cap tech flavor with a position in Adobe (NASDAQ:ADBE).
Beyond big tech, USMC features top 10 positions in other large-cap blue-chip companies like warehouse giant Costco (NASDAQ:COST), consulting firm Accenture (NYSE:ACN), and payment networks Visa (NYSE:V) and Mastercard (NYSE:MA).
One thing that many of these holdings have in common is strong Smart Scores. The Smart Score is a proprietary quantitative stock scoring system created by TipRanks. It gives stocks a score from 1 to 10 based on eight market key factors. A score of 8 or above is equivalent to an Outperform rating. An impressive eight out of USMC’s top 10 holdings feature Outperform-equivalent Smart Scores of 8 or above, and USMC itself features an Outperform-equivalent Smart Score of 8.
The Smart Score is a fan of USMC, and as you’ll see below, so are Wall Street analysts.
Is USMC Stock a Buy, According to Analysts?
Turning to Wall Street, USMC earns a Moderate Buy consensus rating based on 39 Buys, four Holds, and zero Sell ratings assigned in the past three months. The average USMC stock price target of $51.27 implies 18.3% upside potential.
Looking Ahead
In conclusion, USMC ticks a lot of boxes for investors. It has recorded double-digit annualized returns and beaten the broader market over the past five years. Even better, it charges a fee of just 0.12%, which seems very reasonable in light of its strong performance. Also, the fund features a solid portfolio of strong stocks with great Smart Scores, and it enjoys an Outperform-equivalent Smart Score itself. Wall Street analysts are collectively bullish on USMC as well.
The idea of going big by investing in mega-cap companies may indeed be a simple strategy, but it has proven to be an effective one over the past five years, making USMC a solid choice for investors to consider adding to their portfolios.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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You likely won’t be surprised to see Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the world’s two largest companies by market value, at the top of USMC’s list of holdings. These points make a lot of sense -- you don’t achieve a market cap worth hundreds of billions of dollars and hit mega-cap status by being a subpar company, so there’s something to be said for this strategy. Also, as of the end of August, VOO returned 10.5% and 11.11% over the past three and five years, respectively, on an annualized basis, meaning that USMC slightly outperformed it over these timeframes as well.
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You likely won’t be surprised to see Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the world’s two largest companies by market value, at the top of USMC’s list of holdings. The Principal U.S. Mega-Cap ETF pursues long-term capital appreciation by investing in U.S. companies “with very large (‘mega’) market capitalizations at the time of purchase,” according to Principal Asset Management. Beyond big tech, USMC features top 10 positions in other large-cap blue-chip companies like warehouse giant Costco (NASDAQ:COST), consulting firm Accenture (NYSE:ACN), and payment networks Visa (NYSE:V) and Mastercard (NYSE:MA).
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You likely won’t be surprised to see Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the world’s two largest companies by market value, at the top of USMC’s list of holdings. Below, you can take a look at a comparison of USMC and VOO using TipRank’s ETF comparison tool, which enables investors to compare up to 20 ETFs at a time across a wide range of criteria, including expense ratios, assets under management (AUM), and performance over a variety of time horizons. An impressive eight out of USMC’s top 10 holdings feature Outperform-equivalent Smart Scores of 8 or above, and USMC itself features an Outperform-equivalent Smart Score of 8.
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You likely won’t be surprised to see Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the world’s two largest companies by market value, at the top of USMC’s list of holdings. The Principal U.S. Mega-Cap ETF pursues long-term capital appreciation by investing in U.S. companies “with very large (‘mega’) market capitalizations at the time of purchase,” according to Principal Asset Management. USMC has returned 20.6% year-to-date in 2023 and 27.1% over the past year.
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13470.0
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2023-09-25 00:00:00 UTC
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US STOCKS-S&P 500, Nasdaq gain as megacaps rebound; rate concerns prevail
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AAPL
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https://www.nasdaq.com/articles/us-stocks-sp-500-nasdaq-gain-as-megacaps-rebound-rate-concerns-prevail
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nan
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nan
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By Ankika Biswas and Shashwat Chauhan
Sept 25 (Reuters) - The S&P 500 and the Nasdaq gained in choppy trade on Monday as most megacap stocks picked up steam, with investors keenly awaiting economic data and Federal Reserve policymakers' remarks throughout the week for clarity on the path for interest rates.
Apple AAPL.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O reversed their course to gain 0.4% to 1.5%. Amazon.com AMZN.O advanced 1.7% on plans to invest up to $4 billion in the high-profile startup, Anthropic.
Uncertainty around the interest rate outlook, including a potential hike by year-end and expectations for fewer cuts next year, pushed the 10-year Treasury yield US10YT=RR to a 16-year high, bruising major growth stocks last week.
The indexes also eyed their first quarterly declines so far this year heading into the last days of September.
While energy .SPNY jumped over 1% to lead gains among major S&P 500 sectors, utilities .SPLRCU and real estate .SPLRCR were the worst hit.
Investors will now monitor data on durable goods and the personal consumption expenditures (PCE) price index for August, second-quarter GDP, and remarks by Fed policymakers, including Chair Jerome Powell, through the course of the week.
"Anything that would cause investors to believe that we are close to the end of this rate-tightening cycle and not on the precipice of recession could make investors feel a little more confident," said Sam Stovall, chief investment strategist at CFRA Research.
"Because of worries over rising oil prices, rising dollar, rising interest rates, we could see some additional weakness in this traditionally soft seasonal period."
Traders' bets on the benchmark rate remaining unchanged in November and December stood at 79% and 63%, respectively, according to CME's FedWatch tool, with a 25-basis-point rate cut being priced in as early as March and growing to over 33% in June and July.
At 11:50 a.m. ET, the Dow Jones Industrial Average .DJI was down 16.18 points, or 0.05%, at 33,947.66, the S&P 500 .SPX was up 10.48 points, or 0.24%, at 4,330.54, and the Nasdaq Composite .IXIC was up 42.62 points, or 0.32%, at 13,254.42.
Footwear maker NikeNKE.N and sportswear retailer Foot LockerFL.N lost 0.1% and 2.6%, respectively, after Jefferies downgraded both the stocks to "hold" from "buy".
Declining issues outnumbered advancers for a 1.20-to-1 ratio on the NYSE and a 1.07-to-1 ratio on the Nasdaq.
The S&P index recorded one new 52-week high and 41 new lows, while the Nasdaq recorded 24 new highs and 297 new lows.
10-year Treasury yield vs U.S. stocks in 2023 https://tmsnrt.rs/453bM1e
(Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Arun Koyyur and Maju Samuel)
((Ankika.Biswas@thomsonreuters.com; Shashwat.Chauhan@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple AAPL.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O reversed their course to gain 0.4% to 1.5%. By Ankika Biswas and Shashwat Chauhan Sept 25 (Reuters) - The S&P 500 and the Nasdaq gained in choppy trade on Monday as most megacap stocks picked up steam, with investors keenly awaiting economic data and Federal Reserve policymakers' remarks throughout the week for clarity on the path for interest rates. Uncertainty around the interest rate outlook, including a potential hike by year-end and expectations for fewer cuts next year, pushed the 10-year Treasury yield US10YT=RR to a 16-year high, bruising major growth stocks last week.
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Apple AAPL.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O reversed their course to gain 0.4% to 1.5%. Uncertainty around the interest rate outlook, including a potential hike by year-end and expectations for fewer cuts next year, pushed the 10-year Treasury yield US10YT=RR to a 16-year high, bruising major growth stocks last week. "Because of worries over rising oil prices, rising dollar, rising interest rates, we could see some additional weakness in this traditionally soft seasonal period."
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Apple AAPL.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O reversed their course to gain 0.4% to 1.5%. By Ankika Biswas and Shashwat Chauhan Sept 25 (Reuters) - The S&P 500 and the Nasdaq gained in choppy trade on Monday as most megacap stocks picked up steam, with investors keenly awaiting economic data and Federal Reserve policymakers' remarks throughout the week for clarity on the path for interest rates. Uncertainty around the interest rate outlook, including a potential hike by year-end and expectations for fewer cuts next year, pushed the 10-year Treasury yield US10YT=RR to a 16-year high, bruising major growth stocks last week.
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Apple AAPL.O, Tesla TSLA.O, Nvidia NVDA.O and Alphabet GOOGL.O reversed their course to gain 0.4% to 1.5%. By Ankika Biswas and Shashwat Chauhan Sept 25 (Reuters) - The S&P 500 and the Nasdaq gained in choppy trade on Monday as most megacap stocks picked up steam, with investors keenly awaiting economic data and Federal Reserve policymakers' remarks throughout the week for clarity on the path for interest rates. Amazon.com AMZN.O advanced 1.7% on plans to invest up to $4 billion in the high-profile startup, Anthropic.
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13471.0
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2023-09-25 00:00:00 UTC
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Should WisdomTree U.S. LargeCap Dividend ETF (DLN) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-wisdomtree-u.s.-largecap-dividend-etf-dln-be-on-your-investing-radar-9
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nan
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nan
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Launched on 06/16/2006, the WisdomTree U.S. LargeCap Dividend ETF (DLN) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market.
The fund is sponsored by Wisdomtree. It has amassed assets over $3.47 billion, making it one of the average sized ETFs attempting to match the Large Cap Value segment of the US equity market.
Why Large Cap Value
Large cap companies usually have a market capitalization above $10 billion. Overall, they are usually a stable option, with less risk and more sure-fire cash flows than mid and small cap companies.
Value stocks are known for their lower than average price-to-earnings and price-to-book ratios, but investors should also note their lower than average sales and earnings growth rates. While value stocks have outperformed growth stocks in nearly all markets when you consider long-term performance, growth stocks are more likely to outpace value stocks in strong bull markets.
Costs
Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.28%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 2.59%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Information Technology sector--about 18.20% of the portfolio. Healthcare and Financials round out the top three.
Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 4.03% of total assets, followed by Apple Inc (AAPL) and Microsoft Corp (MSFT).
The top 10 holdings account for about 26.1% of total assets under management.
Performance and Risk
DLN seeks to match the performance of the WisdomTree U.S. LargeCap Dividend Index before fees and expenses. The WisdomTree U.S. LargeCap Dividend Index is a fundamentally weighted index that measures the performance of the large-capitalization segment of the U.S. dividend-paying market.
The ETF has gained about 2.11% so far this year and it's up approximately 9.64% in the last one year (as of 09/25/2023). In the past 52-week period, it has traded between $55.26 and $65.66.
The ETF has a beta of 0.89 and standard deviation of 14.60% for the trailing three-year period, making it a medium risk choice in the space. With about 301 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree U.S. LargeCap Dividend ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, DLN is a good option for those seeking exposure to the Style Box - Large Cap Value area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell 1000 Value ETF (IWD) and the Vanguard Value ETF (VTV) track a similar index. While iShares Russell 1000 Value ETF has $49.59 billion in assets, Vanguard Value ETF has $98.85 billion. IWD has an expense ratio of 0.19% and VTV charges 0.04%.
Bottom-Line
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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WisdomTree U.S. LargeCap Dividend ETF (DLN): ETF Research Reports
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
Vanguard Value ETF (VTV): ETF Research Reports
iShares Russell 1000 Value ETF (IWD): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 4.03% of total assets, followed by Apple Inc (AAPL) and Microsoft Corp (MSFT). Click to get this free report WisdomTree U.S. LargeCap Dividend ETF (DLN): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Launched on 06/16/2006, the WisdomTree U.S. LargeCap Dividend ETF (DLN) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market.
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Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 4.03% of total assets, followed by Apple Inc (AAPL) and Microsoft Corp (MSFT). Click to get this free report WisdomTree U.S. LargeCap Dividend ETF (DLN): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Launched on 06/16/2006, the WisdomTree U.S. LargeCap Dividend ETF (DLN) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market.
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Click to get this free report WisdomTree U.S. LargeCap Dividend ETF (DLN): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 4.03% of total assets, followed by Apple Inc (AAPL) and Microsoft Corp (MSFT). Alternatives WisdomTree U.S. LargeCap Dividend ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors.
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Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 4.03% of total assets, followed by Apple Inc (AAPL) and Microsoft Corp (MSFT). Click to get this free report WisdomTree U.S. LargeCap Dividend ETF (DLN): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Launched on 06/16/2006, the WisdomTree U.S. LargeCap Dividend ETF (DLN) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market.
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13472.0
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2023-09-25 00:00:00 UTC
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Warren Buffett Has Put $150 Billion of Berkshire Hathaway's Cash to Work in These 4 Stocks
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AAPL
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https://www.nasdaq.com/articles/warren-buffett-has-put-%24150-billion-of-berkshire-hathaways-cash-to-work-in-these-4-stocks
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nan
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Since becoming the CEO of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) in 1965, Warren Buffett has masterfully steered the ship. Whereas the benchmark S&P 500 hasn't quite reached a 30,000% total return, including dividends paid, since Buffett became CEO, he's overseen a 4,544,578% aggregate gain in his company's Class A shares (BRK.A), as of the closing bell on Sept. 19, 2023.
Although Buffett isn't infallible, he has a knack for picking far more winners than losers. It's why professional and everyday investors closely track the Oracle of Omaha's buying and selling activity via quarterly 13F filings. Riding Buffett's coattails has been a wildly profitable strategy for more than a half-century.
Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.
However, there's a big difference between Warren Buffett and his investing lieutenants, Todd Combs and Ted Weschler, putting hundreds of millions of dollars to work in a brand-name company, and investing tens of billions in a time-tested business.
For instance, no one would question Warren Buffett's love for beverage stock Coca-Cola or credit-services provider American Express. But these are investments where time has been Buffett's greatest ally. Though they're top holdings by market value in Berkshire Hathaway's nearly $356 billion portfolio, Coca-Cola and AmEx each have initial cost bases of around $1.3 billion.
Comparatively, Warren Buffett and his team have put approximately $150 billion of Berkshire Hathaway's cash to work in just four stocks.
Chevron: $15.6 billion cost basis (estimated)
According to 13F aggregation website WhaleWisdom.com, Berkshire Hathaway's estimated cost basis on the 123,120,120 shares it owns of energy stock Chevron (NYSE: CVX) is $126.58. This means Buffett and company have doled out around $15.6 billion to buy shares of Chevron since the fourth quarter of 2020.
The reason such a sizable bet has been made on one of the world's largest oil and gas stocks looks to be the expectation that the spot price for crude oil will remain elevated, or perhaps head even higher.
For more than three years during the COVID-19 pandemic, global energy majors scaled back their capital expenditures. When coupled with Russia's invasion of Ukraine and the energy demand uncertainty this creates for most of Europe, there's a good likelihood that crude oil supply will remain tight/constrained for years to come. As a general rule, when the supply of a necessary commodity is restrained in any way, the price of that commodity tends to move higher. Chevron generates its best operating margins from its upstream drilling segment.
However, Chevron is also an integrated energy company. On top of drilling, it operates transmission pipelines, refineries, and chemical plants. These midstream and downstream assets provide predictable operating cash flow and can help Chevron hedge against possible downside in the spot price of crude oil.
And let's face it, no one had to twist Warren Buffett's arm to take advantage of Chevron's premier capital-return program. Chevron's board OK'd an up to $75 billion share repurchase program earlier this year, and the company has raised its base annual payout for 36 consecutive years.
Bank of America: $26.5 billion cost basis (estimated)
Another stock Warren Buffett has absolutely piled Berkshire Hathaway's cash into is money-center giant Bank of America (NYSE: BAC), which is commonly known as "BofA." With over 1 billion shares held and an estimated cost basis of $25.68, per WhaleWisdom, Buffett has spent about $26.5 billion building his company's stake in BofA.
The reason the Oracle of Omaha loves bank stocks so much is because they're cyclical and they generate recurring revenue. Even though downturns in the U.S. economy are perfectly normal, economic expansions last considerably longer than recessions. It means banks like BofA are benefiting from loan and investment growth over time from these disproportionately longer periods of expansion.
It also doesn't hurt that Bank of America is the most interest-sensitive among the nation's biggest banks. The steepest rate-hiking cycle by the Federal Reserve in four decades has added billions of dollars in net-interest income each quarter to Bank of America's bottom line.
While often viewed as a stodgy "old" bank, BofA is making plenty of headway with its technology investments. More specifically, the percentage of households banking digitally (online or via mobile app) has been steadily climbing. It's considerably cheaper for Bank of America when its customers bank online or via its mobile app, compared to in-person interactions.
Lastly, BofA sports a healthy capital-return program. Berkshire Hathaway is set to collect almost $992 million in dividend income from its BofA stake over the next 12 months.
Image source: Apple.
Apple: $36.3 billion cost basis (estimated)
Unsurprisingly, Warren Buffett has sunk quite a bit of Berkshire Hathaway's cash into tech stock Apple (NASDAQ: AAPL). The company Buffett dubbed "a better business than any we own," during Berkshire's May 2023 annual shareholder meeting has an estimated cost basis of $36.3 billion.
There's a laundry list of reasons the Oracle of Omaha loves Apple as a company and an investment. However, I'll whittle it down to three prevailing factors: brand power, innovation, and of course, its capital-return program.
Apple is widely viewed as one of the world's most-valuable and most-recognized brands. Consumers frequently flock to Apple's stores and retail locations when its physical products hit displays. Perhaps most importantly, consumers trust the brand and investors, like Buffett, have complete faith in Apple's leadership, including CEO Tim Cook.
There's also Apple's innovation, which has long been the driver of its sales and profit growth. Apple accounts for roughly half of all U.S. smartphone market share since introducing 5G-capable versions of its iPhone during the fourth quarter of 2020. It's evolving as a platforms company, too, with subscription services growth expected to increase its operating margin over the long run.
Best of all, no publicly traded company in the U.S. can hold a candle to Apple's capital-return program. It's doling out $15 billion in annual dividends to its shareholders and has repurchased around $600 billion worth of its common stock since kick-starting its buyback program in 2013.
Berkshire Hathaway: in excess of $71.1 billion
However, the stock Warren Buffett has put more of Berkshire Hathaway's cash to work in than any other is (ironically)... Berkshire Hathaway. Don't you love a reveal with a plot twist? Since Berkshire Hathaway's share repurchase program was amended in July 2018 to give Buffett and executive vice chairman Charlie Munger more ability to act, the company's dynamic duo has overseen more than $71.1 billion worth of buybacks.
Despite Buffett's company being on track to collect more than $6 billion in dividend income over the next 12 months, Berkshire Hathaway doesn't pay a dividend. Instead, the Oracle of Omaha rewards his long-term shareholders via buybacks, which come with three distinct benefits.
To start with, consistently repurchasing stock will reduce Berkshire's outstanding share count and make each remaining share that much scarcer. In other words, it'll steadily increase the ownership stakes of the company's shareholders.
Secondly, but building on the previous point, a declining outstanding share count for a company with steady or growing net income (like Berkshire Hathaway, sans unrealized investment gains/losses) should lead to higher earnings per share (EPS) over time. Higher EPS can make Berkshire Hathaway stock even more attractive to fundamentally focused investors.
Third and finally, Buffett's and Munger's aggressive buyback program signals the unwavering faith they have in the company they've built over many decades. Even though Berkshire Hathaway has down years from time to time, the bulk of its investment portfolio and owned assets are cyclical businesses. Buffet, Munger, Combs, and Weschler, have all positioned Berkshire Hathaway to excel during extended periods of economic expansion.
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Bank of America and American Express are advertising partners of The Ascent, a Motley Fool company. Sean Williams has positions in Bank of America. The Motley Fool has positions in and recommends Apple, Bank of America, and Berkshire Hathaway. The Motley Fool recommends Chevron and recommends the following options: long January 2024 $47.50 calls on Coca-Cola. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple: $36.3 billion cost basis (estimated) Unsurprisingly, Warren Buffett has sunk quite a bit of Berkshire Hathaway's cash into tech stock Apple (NASDAQ: AAPL). Whereas the benchmark S&P 500 hasn't quite reached a 30,000% total return, including dividends paid, since Buffett became CEO, he's overseen a 4,544,578% aggregate gain in his company's Class A shares (BRK.A), as of the closing bell on Sept. 19, 2023. When coupled with Russia's invasion of Ukraine and the energy demand uncertainty this creates for most of Europe, there's a good likelihood that crude oil supply will remain tight/constrained for years to come.
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Apple: $36.3 billion cost basis (estimated) Unsurprisingly, Warren Buffett has sunk quite a bit of Berkshire Hathaway's cash into tech stock Apple (NASDAQ: AAPL). Chevron: $15.6 billion cost basis (estimated) According to 13F aggregation website WhaleWisdom.com, Berkshire Hathaway's estimated cost basis on the 123,120,120 shares it owns of energy stock Chevron (NYSE: CVX) is $126.58. Bank of America: $26.5 billion cost basis (estimated) Another stock Warren Buffett has absolutely piled Berkshire Hathaway's cash into is money-center giant Bank of America (NYSE: BAC), which is commonly known as "BofA."
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Apple: $36.3 billion cost basis (estimated) Unsurprisingly, Warren Buffett has sunk quite a bit of Berkshire Hathaway's cash into tech stock Apple (NASDAQ: AAPL). Bank of America: $26.5 billion cost basis (estimated) Another stock Warren Buffett has absolutely piled Berkshire Hathaway's cash into is money-center giant Bank of America (NYSE: BAC), which is commonly known as "BofA." Berkshire Hathaway: in excess of $71.1 billion However, the stock Warren Buffett has put more of Berkshire Hathaway's cash to work in than any other is (ironically)... Berkshire Hathaway.
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Apple: $36.3 billion cost basis (estimated) Unsurprisingly, Warren Buffett has sunk quite a bit of Berkshire Hathaway's cash into tech stock Apple (NASDAQ: AAPL). Berkshire Hathaway CEO Warren Buffett. Bank of America: $26.5 billion cost basis (estimated) Another stock Warren Buffett has absolutely piled Berkshire Hathaway's cash into is money-center giant Bank of America (NYSE: BAC), which is commonly known as "BofA."
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13473.0
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2023-09-25 00:00:00 UTC
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Why Apple's (AAPL) iPhone 15 Will Boost 2024 Revenue
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AAPL
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https://www.nasdaq.com/articles/why-apples-aapl-iphone-15-will-boost-2024-revenue
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nan
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espite an overall decline in stocks on Friday, with all three major averages ending in negative territory, shares of Apple (AAPL) bucked the trend, rising as the iPhone 15 officially went on sale on Friday. Apple stock closed on Friday at $174.79, rising 0.49%. The shares have outperformed the market this year, rising 34.5% year to date, besting the 12.5% rise in the S&P 500 index.
However, like many of its mega-cap tech peers, Apple shares have traded sideways to slightly down over the past month as investors grapple over more interest rate hikes from the Fed which continues its battle against the rising cost of living.
But the highly-anticipated launch of iPhone 15 could reverse the decline in Apple’s stock. While the iPhone, which was first launched in 2007, continues to generate the lion's share of the company's revenue, unit sales has been on the decline over the past three quarters. The iPhone 15, particularly the Pro and Pro Max models, are expected to revive unit growth, according to Wedbush Securities analyst Dan Ives. Citing strong demand for the aforementioned models, Ives rates Apple stock as Outperform with a $240 price target.
The iPhone 15 Pro and Pro Max are still "very strong," with long lines seen in China, Europe and the U.S., Ives wrote in a note to clients. "The big focus of consumers at the Midtown Apple Store today [Friday] has been Pro Max so far as we believe a scarcity of iPhone 15 Pro Max is starting to build throughout the supply chain.” Citing what he calls "eye-popping" promotions from carriers such as Verizon (VZ), T-Mobile (TMUS) and AT&T (T), Ives noted that iPhone 15 pre-orders are higher than he and most of Wall Street analysts expected.
Factoring Ives’ $240 price target on Apple, that assumes additional premiums of close to 40% from current levels. The iPhone 15 could ship 85 million units and perhaps as many as 90 million, according to Ives. With the third quarter due to end in six days, the question is whether the iPhone 15 can generate that level of demand through the holiday shopping season. Some are already referring to the iPhone 15 as a little computer, given that the phone can be connected to a 4K monitor via the USB-C port that displaced the proprietary "Lightning" charging technology port on previous iPhone models.
For consumers, the change to USB-C port offers some benefit. For example, the former lightning port offered a transfer speed of only 480 Mbps, while the iPhone 15's new cable offer speeds of 10Gbps for faster charging. What’s more, in addition to a 48-megapixel wide-angle camera, enhanced battery life and performance, and enhancements that include the new A17 chipset, the iPhone 15 runs on a chip based on Taiwan Semiconductor’s (TSM) 3nm process technology and supports hardware-accelerated ray tracing.
Meanwhile, the pricier Pro Max sports a 5-6x optical zoom lens which for photography enthusiasts is a standout feature. Given these advanced features and technologies, I expect the iPhone 15 and 15 Pro to revive unit shipments for Apple, and thus resume the company’s revenue growth in fiscal 2024. Apple will report fourth quarter earnings results in mid-to-late October. For the quarter that ends September, earnings are expected to be $1.39 per share, while revenue it expected to be $89.22 billion., down 1% year over year.
Meanwhile, full year 2023 earnings of $6.07 per share and revenue of $383.11 billion will be down 0.65% and 2.8%, respectively. Despite the expected decline, Apple stock should rise as the year closes with the iPhone 15 creating a 'mini super cycle’ driving higher-than-expected revenue in 2024.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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espite an overall decline in stocks on Friday, with all three major averages ending in negative territory, shares of Apple (AAPL) bucked the trend, rising as the iPhone 15 officially went on sale on Friday. However, like many of its mega-cap tech peers, Apple shares have traded sideways to slightly down over the past month as investors grapple over more interest rate hikes from the Fed which continues its battle against the rising cost of living. "The big focus of consumers at the Midtown Apple Store today [Friday] has been Pro Max so far as we believe a scarcity of iPhone 15 Pro Max is starting to build throughout the supply chain.” Citing what he calls "eye-popping" promotions from carriers such as Verizon (VZ), T-Mobile (TMUS) and AT&T (T), Ives noted that iPhone 15 pre-orders are higher than he and most of Wall Street analysts expected.
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espite an overall decline in stocks on Friday, with all three major averages ending in negative territory, shares of Apple (AAPL) bucked the trend, rising as the iPhone 15 officially went on sale on Friday. The iPhone 15, particularly the Pro and Pro Max models, are expected to revive unit growth, according to Wedbush Securities analyst Dan Ives. Citing strong demand for the aforementioned models, Ives rates Apple stock as Outperform with a $240 price target.
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espite an overall decline in stocks on Friday, with all three major averages ending in negative territory, shares of Apple (AAPL) bucked the trend, rising as the iPhone 15 officially went on sale on Friday. "The big focus of consumers at the Midtown Apple Store today [Friday] has been Pro Max so far as we believe a scarcity of iPhone 15 Pro Max is starting to build throughout the supply chain.” Citing what he calls "eye-popping" promotions from carriers such as Verizon (VZ), T-Mobile (TMUS) and AT&T (T), Ives noted that iPhone 15 pre-orders are higher than he and most of Wall Street analysts expected. Despite the expected decline, Apple stock should rise as the year closes with the iPhone 15 creating a 'mini super cycle’ driving higher-than-expected revenue in 2024.
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espite an overall decline in stocks on Friday, with all three major averages ending in negative territory, shares of Apple (AAPL) bucked the trend, rising as the iPhone 15 officially went on sale on Friday. While the iPhone, which was first launched in 2007, continues to generate the lion's share of the company's revenue, unit sales has been on the decline over the past three quarters. The iPhone 15, particularly the Pro and Pro Max models, are expected to revive unit growth, according to Wedbush Securities analyst Dan Ives.
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13474.0
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2023-09-25 00:00:00 UTC
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Investors Heavily Search Apple Inc. (AAPL): Here is What You Need to Know
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AAPL
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https://www.nasdaq.com/articles/investors-heavily-search-apple-inc.-aapl%3A-here-is-what-you-need-to-know-6
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nan
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Apple (AAPL) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Shares of this maker of iPhones, iPads and other products have returned -2.1% over the past month versus the Zacks S&P 500 composite's -1.4% change. The Zacks Computer - Mini computers industry, to which Apple belongs, has lost 1.5% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings Estimates
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Apple is expected to post earnings of $1.39 per share, indicating a change of +7.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.2% over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $6.05 points to a change of -1% from the prior year. Over the last 30 days, this estimate has remained unchanged.
For the next fiscal year, the consensus earnings estimate of $6.58 indicates a change of +8.9% from what Apple is expected to report a year ago. Over the past month, the estimate has changed -0.1%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Apple.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth Forecast
Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
For Apple, the consensus sales estimate for the current quarter of $88.87 billion indicates a year-over-year change of -1.4%. For the current and next fiscal years, $382.66 billion and $405.08 billion estimates indicate -3% and +5.9% changes, respectively.
Last Reported Results and Surprise History
Apple reported revenues of $81.8 billion in the last reported quarter, representing a year-over-year change of -1.4%. EPS of $1.26 for the same period compares with $1.20 a year ago.
Compared to the Zacks Consensus Estimate of $81.36 billion, the reported revenues represent a surprise of +0.54%. The EPS surprise was +5.88%.
Over the last four quarters, Apple surpassed consensus EPS estimates three times. The company topped consensus revenue estimates three times over this period.
Valuation
Without considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Apple is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Apple. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) has recently been on Zacks.com's list of the most searched stocks. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends.
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Apple (AAPL) has recently been on Zacks.com's list of the most searched stocks. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. The chart below shows the evolution of the company's forward 12-month consensus EPS estimate: 12 Month EPS Revenue Growth Forecast Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues.
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Apple (AAPL) has recently been on Zacks.com's list of the most searched stocks. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions.
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Apple (AAPL) has recently been on Zacks.com's list of the most searched stocks. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. And if earnings estimates go up for a company, the fair value for its stock goes up.
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13475.0
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2023-09-25 00:00:00 UTC
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Apple's Indian contract facility temporarily halts iPhone assembly after fire
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AAPL
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https://www.nasdaq.com/articles/apples-indian-contract-facility-temporarily-halts-iphone-assembly-after-fire
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nan
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By Praveen Paramasivam
CHENNAI, Sept 25 (Reuters) - Apple supplier Pegatron temporarily halted iPhone assembly at its facility in southern India on Monday after a fire incident on Sunday night, three sources told Reuters.
The Taiwanese firm cancelled the first two shifts of the day and is yet to inform assembly workers whether it will operate the third shift of the day, they added.
Apple AAPL.Oand Pegatron Corp 4938.TWdid not immediately respond to requests for comment.
No casualties or injuries were reported as the event took place when the factory was not in operation due to a holiday, the sources added. Reuters could not immediately ascertain the extent of damages from the incident.
Pegatron currently accounts for 10% of Apple's iPhone production in India on an annualised basis, according to research firm Counterpoint.
Apple Inc has bet big on the South Asian nation since it began iPhone assembly in the country in 2017 via Wistron and later Foxconn 2317.TW, in line with the Indian government's push for local manufacturing.
(Reporting by Praveen Paramasivam and Munsif Vengattil; Editing by Muralikumar Anantharaman and Toby Chopra)
((aditi.shah@tr.com; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple AAPL.Oand Pegatron Corp 4938.TWdid not immediately respond to requests for comment. No casualties or injuries were reported as the event took place when the factory was not in operation due to a holiday, the sources added. Pegatron currently accounts for 10% of Apple's iPhone production in India on an annualised basis, according to research firm Counterpoint.
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Apple AAPL.Oand Pegatron Corp 4938.TWdid not immediately respond to requests for comment. By Praveen Paramasivam CHENNAI, Sept 25 (Reuters) - Apple supplier Pegatron temporarily halted iPhone assembly at its facility in southern India on Monday after a fire incident on Sunday night, three sources told Reuters. No casualties or injuries were reported as the event took place when the factory was not in operation due to a holiday, the sources added.
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Apple AAPL.Oand Pegatron Corp 4938.TWdid not immediately respond to requests for comment. By Praveen Paramasivam CHENNAI, Sept 25 (Reuters) - Apple supplier Pegatron temporarily halted iPhone assembly at its facility in southern India on Monday after a fire incident on Sunday night, three sources told Reuters. The Taiwanese firm cancelled the first two shifts of the day and is yet to inform assembly workers whether it will operate the third shift of the day, they added.
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Apple AAPL.Oand Pegatron Corp 4938.TWdid not immediately respond to requests for comment. The Taiwanese firm cancelled the first two shifts of the day and is yet to inform assembly workers whether it will operate the third shift of the day, they added. No casualties or injuries were reported as the event took place when the factory was not in operation due to a holiday, the sources added.
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13476.0
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2023-09-25 00:00:00 UTC
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OpenAI CEO says possible to get regulation wrong, but should not fear it
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AAPL
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https://www.nasdaq.com/articles/openai-ceo-says-possible-to-get-regulation-wrong-but-should-not-fear-it
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nan
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TAIPEI, Sept 25 (Reuters) - The CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation wrong but it is important and should not be feared, amid global concerns about rapid advances in artificial intelligence, or AI.
Many countries are planning AI regulation, and Britain is hosting a global AI safety summit in November, focusing on understanding the risks posed by the frontier technology and how national and international frameworks could be supported.
Sam Altman, CEO and the public face of the startup OpenAI, backed by Microsoft Corp MSFT.O, said during a visit to Taipei that although he was not that worried about government over-regulation, it could happen.
"I also worry about under-regulation. People in our industry bash regulation a lot. We've been calling for regulation, but only of the most powerful systems," he said.
"Models that are like 10,000 times the power of GPT4, models that are like as smart as human civilization, whatever, those probably deserve some regulation," added Altman, speaking at an AI event hosted by the charitable foundation of Terry Gou, the founder of major Apple AAPL.O supplier Foxconn 2317.TW.
Altman said that in the tech industry there is a "reflexive anti-regulation thing".
"Regulation has been not a pure good, but it's been good in a lot of ways. I don't want to have to make an opinion about every time I step on an airplane how safe it's going to be, but I trust that they're pretty safe and I think regulation has been a positive good there," he said.
"It is possible to get regulation wrong, but I don't think we sit around and fear it. In fact we think some version of it is important."
Gou, currently running as an independent candidate to be Taiwan's next president, sat in the audience, but did not speak at the forum.
(Reporting by Ben Blanchard, editing by Ed Osmond)
((ben.blanchard@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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"Models that are like 10,000 times the power of GPT4, models that are like as smart as human civilization, whatever, those probably deserve some regulation," added Altman, speaking at an AI event hosted by the charitable foundation of Terry Gou, the founder of major Apple AAPL.O supplier Foxconn 2317.TW. TAIPEI, Sept 25 (Reuters) - The CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation wrong but it is important and should not be feared, amid global concerns about rapid advances in artificial intelligence, or AI. Sam Altman, CEO and the public face of the startup OpenAI, backed by Microsoft Corp MSFT.O, said during a visit to Taipei that although he was not that worried about government over-regulation, it could happen.
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"Models that are like 10,000 times the power of GPT4, models that are like as smart as human civilization, whatever, those probably deserve some regulation," added Altman, speaking at an AI event hosted by the charitable foundation of Terry Gou, the founder of major Apple AAPL.O supplier Foxconn 2317.TW. Many countries are planning AI regulation, and Britain is hosting a global AI safety summit in November, focusing on understanding the risks posed by the frontier technology and how national and international frameworks could be supported. Sam Altman, CEO and the public face of the startup OpenAI, backed by Microsoft Corp MSFT.O, said during a visit to Taipei that although he was not that worried about government over-regulation, it could happen.
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"Models that are like 10,000 times the power of GPT4, models that are like as smart as human civilization, whatever, those probably deserve some regulation," added Altman, speaking at an AI event hosted by the charitable foundation of Terry Gou, the founder of major Apple AAPL.O supplier Foxconn 2317.TW. TAIPEI, Sept 25 (Reuters) - The CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation wrong but it is important and should not be feared, amid global concerns about rapid advances in artificial intelligence, or AI. Many countries are planning AI regulation, and Britain is hosting a global AI safety summit in November, focusing on understanding the risks posed by the frontier technology and how national and international frameworks could be supported.
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"Models that are like 10,000 times the power of GPT4, models that are like as smart as human civilization, whatever, those probably deserve some regulation," added Altman, speaking at an AI event hosted by the charitable foundation of Terry Gou, the founder of major Apple AAPL.O supplier Foxconn 2317.TW. TAIPEI, Sept 25 (Reuters) - The CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation wrong but it is important and should not be feared, amid global concerns about rapid advances in artificial intelligence, or AI. Sam Altman, CEO and the public face of the startup OpenAI, backed by Microsoft Corp MSFT.O, said during a visit to Taipei that although he was not that worried about government over-regulation, it could happen.
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13477.0
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2023-09-25 00:00:00 UTC
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US STOCKS-Futures edge lower on persistent worries over higher rates
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-edge-lower-on-persistent-worries-over-higher-rates
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Futures down: Dow 0.08%, S&P 0.07%, Nasdaq 0.10%
Sept 25 (Reuters) - U.S. stock index futures slipped on Monday on concerns over interest rates staying higher for longer, with investors awaiting economic data as well as remarks from Federal Reserve policymakers throughout the week.
The S&P 500 .SPX and the Nasdaq .IXIC registered their largest weekly percentage drop since March on Friday as benchmark Treasury yields hit multi-year highs while investors digested the Fed's hawkish outlook revisions.
Just a few days after the Fed's decision to let its key rate stand and likely keep restrictive policy in place for longer than previously anticipated, some policymakers warned of further hikes as they doubt if the inflation battle is over.
Uncertainty around the trajectory for interest rates, including a potential hike by year-end and expectations for fewer cuts next year, have pushed the 10-year Treasury yield US10YT=RR to a 16-year high, hurting growth stocks.
Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Meta Platforms META.O remained under pressure on Monday, losing between 0.2% and 0.4% in premarket trading.
Investors will now monitor data on durable goods and the Fed's preferred inflation gauge Personal Consumption Expenditures (PCE) price index for August, second-quarter GDP, and remarks by Fed policymakers including Chair Jerome Powell through the course of the week.
Traders' bets on the benchmark rate remaining unchanged in November and December stood at 74% and 59%, respectively, according to CME's FedWatch tool.
Investors also assessed other risks including high oil prices, a resumption of student loan payments in October and a government shutdown that is set to begin if lawmakers are unable to pass a budget by Sep. 30.
At 5:23 a.m. ET, Dow e-minis 1YMcv1 were down 27 points, or 0.08%, S&P 500 e-minis EScv1 were down 3 points, or 0.07%, and Nasdaq 100 e-minis NQcv1 were down 14.25 points, or 0.1%.
Media firms Warner Bros Discovery WBD.O, Paramount Global PARA.O, Netflix NFLX.O and Walt Disney DIS.N gained between 0.8% and 4% after Hollywood's writers union reached a preliminary labor agreement with major studios on Sunday, a deal expected to end one of two strikes that have halted most film and television production.
HP Inc HPQ.N fell 2.4% after Warren Buffett's Berkshire Hathaway BRKa.N sold of the PC-maker.
(Reporting by Ankika Biswas in Bengaluru;Editing by Arun Koyyur)
((Ankika.Biswas@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Meta Platforms META.O remained under pressure on Monday, losing between 0.2% and 0.4% in premarket trading. The S&P 500 .SPX and the Nasdaq .IXIC registered their largest weekly percentage drop since March on Friday as benchmark Treasury yields hit multi-year highs while investors digested the Fed's hawkish outlook revisions. Investors also assessed other risks including high oil prices, a resumption of student loan payments in October and a government shutdown that is set to begin if lawmakers are unable to pass a budget by Sep. 30.
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Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Meta Platforms META.O remained under pressure on Monday, losing between 0.2% and 0.4% in premarket trading. Futures down: Dow 0.08%, S&P 0.07%, Nasdaq 0.10% Sept 25 (Reuters) - U.S. stock index futures slipped on Monday on concerns over interest rates staying higher for longer, with investors awaiting economic data as well as remarks from Federal Reserve policymakers throughout the week. The S&P 500 .SPX and the Nasdaq .IXIC registered their largest weekly percentage drop since March on Friday as benchmark Treasury yields hit multi-year highs while investors digested the Fed's hawkish outlook revisions.
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Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Meta Platforms META.O remained under pressure on Monday, losing between 0.2% and 0.4% in premarket trading. Futures down: Dow 0.08%, S&P 0.07%, Nasdaq 0.10% Sept 25 (Reuters) - U.S. stock index futures slipped on Monday on concerns over interest rates staying higher for longer, with investors awaiting economic data as well as remarks from Federal Reserve policymakers throughout the week. The S&P 500 .SPX and the Nasdaq .IXIC registered their largest weekly percentage drop since March on Friday as benchmark Treasury yields hit multi-year highs while investors digested the Fed's hawkish outlook revisions.
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Apple AAPL.O, Microsoft MSFT.O, Tesla TSLA.O and Meta Platforms META.O remained under pressure on Monday, losing between 0.2% and 0.4% in premarket trading. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. The S&P 500 .SPX and the Nasdaq .IXIC registered their largest weekly percentage drop since March on Friday as benchmark Treasury yields hit multi-year highs while investors digested the Fed's hawkish outlook revisions.
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13478.0
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2023-09-25 00:00:00 UTC
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1 Massive Overlooked Risk for Intel and AMD
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AAPL
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https://www.nasdaq.com/articles/1-massive-overlooked-risk-for-intel-and-amd
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nan
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nan
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For decades, Intel (NASDAQ: INTC) and its second-fiddle rival Advanced Micro Devices (NASDAQ: AMD) dominated the microprocessor market. From PCs to business servers, finding a processor that wasn't Intel or AMD was, for all intents and purposes, impossible.
But things changed in the age of mobility that kicked off in the late 2000s, and the change could be accelerating. Even Arm Holdings (NASDAQ: ARM), the semiconductor tech patent-holder that helped kick off that sea change, could be at risk.
From what, exactly? Something called RISC-V.
The oversimplified explanation of computing basics
Before delving into RISC-V, let's cover some computing basics.
Microprocessors (like the CPU found in every PC and laptop) are a type of chip responsible for handling general-purpose computing. They perform computations on long strings of "1s" and "0s" -- created by tiny electrical on-off switches on the surface of these chips called transistors. These actions are the basis of all software that we interact with, including this very web page.
But how are these computations on the 1s and 0s actually performed? That's governed by what's called an ISA, or instruction set architecture, a type of interface between the processor and the software that runs on it that governs how the computing system works. There are two types of ISA: CISC (complex instruction set computer) and RISC (reduced instruction set computer).
Back in the 1970s, Intel developed a CISC called x86 for microprocessors that became the industry standard. In the 1980s, law dictated that AMD would become a second x86 processor provider, and would pay Intel royalties for its use.
But in 1990, Apple (NASDAQ: AAPL) invested in a company called Advanced RISC Machines -- now simply called Arm. And as implied by the "RISC" ISA, Arm's goal was to provide a simplified (or "reduced") instruction set for microprocessors. This is the groundwork that helped Apple pioneer the energy-efficient-yet-powerful mobile devices riding around in our pockets, on our wrists, and in our ears today.
The x86 (and Arm) defense
Despite the rise of Arm-based mobile chips, especially since the 2000s, the Intel-AMD x86 duopoly has been just fine. The reason has less to do with engineering and manufacturing, and a lot to do with software.
You see, virtually all software programs out there were built atop and continuously optimized for the x86 ISA. No matter how energy efficient and powerful these Arm chips have been, it's just not all that practical to rip out old x86 infrastructure because it would require years of new bespoke software development atop the Arm RISC architecture. That's why Apple, and other parts of the mobile computing space, developed as a sort of second prong of the IT industry alongside x86, rather than supplanting it.
However, after several decades of development from deep-pocketed Apple and others, Arm is starting to gain a foothold in parts of the market that used to be x86-only. For example, Apple's MacBooks now feature the M-series chips, cutting Intel completely out of those laptops. Qualcomm is working on doing something similar with its own Arm-based chips for Windows laptops (it acquired a small start-up with former Apple engineers named Nuvia a few years ago). Even data center servers are starting to feature Arm processors in them.
But in addition to the Arm revolution, another wave of change is coming hot on its heels. Enter RISC-V.
What is RISC-V?
Much like Arm, RISC-V is a reduced instruction set, with the V (a Roman numeral) signifying the fifth-generation of RISC architecture. It was started in 2010 and has quickly picked up steam. In 2020, the RISC-V International organization was established in Switzerland, a non-profit with the goal of evangelizing the benefits of RISC-V to the global developer community.
A big draw of RISC-V is its open architecture. Companies are free to experiment with the basic processor designs, and these basics are royalty-free. There's no payment-per-chip manufactured as with other monopolistic tech licensors under x86 or Arm, and its open platform allows for ease of experimentation within semiconductor land. RISC-V has already found its way into lots of computing systems, especially custom microcontrollers (a type of processor found in a lot of industrial applications). RISC-V International said in late 2022 that it had 10 billion RISC-V processor cores in operation around the world.
Fast progress is being made to expand the ecosystem, which helps with uptake as more software is written on the instruction set. It could be many years (or maybe never) before a mainstream PC or laptop with a RISC-V processor comes to market, but lots of data center chips for custom applications are already being seriously developed.
This could be a long-term risk to companies like Intel and AMD, which are still at this point highly reliant on x86-based chips. They have time to adapt, and in some respects already are. AMD made two big acquisitions in 2022, Xilinx and Pensando, which gave it exposure to computing tech outside of its traditional roots. Intel has also been building in support, especially in its manufacturing marketed to other chip design companies, for Arm and RISC-V chips.
Semiconductor software design (known as EDA, or electronic design automation) providers Synopsys, Cadence Design Systems, and Siemens also support RISC-V development.
It's important to bear in mind that computing tech is always in flux. It's an industry where playing offense is often rewarded. RISC-V isn't likely to be the death of anyone in the semiconductor market, but it could pose serious challenges for leaders like Intel and AMD if rival chip design firms continue to funnel lots of money into RISC-V hardware and software development.
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Nicholas Rossolillo and his clients have positions in Advanced Micro Devices, Apple, Cadence Design Systems, Qualcomm, and Synopsys. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, Cadence Design Systems, Qualcomm, and Synopsys. The Motley Fool recommends Intel and recommends the following options: long January 2023 $57.50 calls on Intel and long January 2025 $45 calls on Intel. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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But in 1990, Apple (NASDAQ: AAPL) invested in a company called Advanced RISC Machines -- now simply called Arm. Qualcomm is working on doing something similar with its own Arm-based chips for Windows laptops (it acquired a small start-up with former Apple engineers named Nuvia a few years ago). It could be many years (or maybe never) before a mainstream PC or laptop with a RISC-V processor comes to market, but lots of data center chips for custom applications are already being seriously developed.
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But in 1990, Apple (NASDAQ: AAPL) invested in a company called Advanced RISC Machines -- now simply called Arm. There are two types of ISA: CISC (complex instruction set computer) and RISC (reduced instruction set computer). The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, Cadence Design Systems, Qualcomm, and Synopsys.
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But in 1990, Apple (NASDAQ: AAPL) invested in a company called Advanced RISC Machines -- now simply called Arm. Intel has also been building in support, especially in its manufacturing marketed to other chip design companies, for Arm and RISC-V chips. RISC-V isn't likely to be the death of anyone in the semiconductor market, but it could pose serious challenges for leaders like Intel and AMD if rival chip design firms continue to funnel lots of money into RISC-V hardware and software development.
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But in 1990, Apple (NASDAQ: AAPL) invested in a company called Advanced RISC Machines -- now simply called Arm. Something called RISC-V. There are two types of ISA: CISC (complex instruction set computer) and RISC (reduced instruction set computer).
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13479.0
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2023-09-24 00:00:00 UTC
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It’s Game Time: 3 NFL Stocks to Buy This Month
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AAPL
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https://www.nasdaq.com/articles/its-game-time%3A-3-nfl-stocks-to-buy-this-month
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The National Football League (NFL) is back and bigger than ever. The viewership ratings for the first two weeks of the 2023 season have been exceptionally strong. In fact, the first game that kicked off the season scored the biggest ratings yet for Amazon’s (NASDAQ:AMZN) Prime Video broadcasts of Thursday Night Football.
The league just keeps getting bigger as fans flock to support their teams. In 2022, the 32 teams that comprise the NFL generated combined revenues of $18.6 billion, an increase of more than $1 billion from the previous year according to data from Statista. The popularity and viewership of the NFL draw companies large and small into its orbit as corporations use football as a platform to promote their products and services.
Luckily, the NFL is adaptable, increasingly moving into new areas such as streaming and online betting, and striking ever more lucrative sponsorship deals and celebrity endorsements along the way. As the new season gets into full swing, these are the three NFL stocks to buy.
Alphabet (GOOG/GOOGL)
Source: IgorGolovniov / Shutterstock.com
Alphabet (NASDAQ:GOOG/NASDAQ:GOOGL) is arguably the big winner this NFL season as YouTube, which the company owns, has acquired the rights to Sunday night game broadcasts.
“NFL Sunday Ticket, the streaming TV package that lets football fans watch all out-of-market Sunday afternoon NFL games during the regular season. YouTube has taken over Sunday Ticket from DirecTV, which previously held the exclusive rights for the programming going all the way back to 1994.”
Sunday Ticket for the current NFL season is available through YouTube TV, Alphabet’s streaming service.
YouTube is charging $349 for NFL Sunday Ticket when bundled with a subscription to YouTube TV that itself costs $73 per month. Alphabet is trying to recoup the $2.5 billion it is paying each NFL season for the rights to that year’s Sunday Ticket. The company sees the popular Sunday Ticket service as a way to gain market share in the highly competitive streaming sector and to diversify YouTube. While it’s too early to tell how NFL Sunday Ticket will boost Alphabet’s fortunes, early indications are that the service remains a hit on YouTube.
GOOGL stock has risen 47% since the first trading day of January this year.
Apple (AAPL)
Source: Eric Broder Van Dyke / Shutterstock.com
Apple (NASDAQ:AAPL) — specifically Apple Music — is officially the sponsor of the Super Bowl halftime show, paying $50 million a year for what is billed as the biggest and most glamorous sponsorship in the world. The company outbid PepsiCo (NASDAQ:PEP) for the halftime show sponsorship, and it can be assumed that Apple will be pulling out all the stops to wring every bit of promotion it can out of the big game, which last year attracted 115 million viewers worldwide.
Apple can be expected to promote many of its products at this year’s Super Bowl and through its association with the NFL, namely its new Vision Pro augmented reality headset that it is planning to release in early 2024. The company is also pushing hard to drive sales of its new iPhone 15. And, of course, it will also use the big game to promote Apple Music. While the performer at this season’s Super Bowl, which takes place on Feb. 11, 2024 in Las Vegas, has not yet been announced, rumored frontrunners are Harry Styles, Taylor Swift and Ed Sheeran.
AAPL stock has gained 40% year to date.
PepsiCo (PEP)
Source: suriyachan / Shutterstock.com
While PepsiCo (NASDAQ:PEP) may have lost its sponsorship of the Super Bowl halftime show after a 10-year run, the company is still a big sponsor of the NFL season and its drinks and snacks are popular choices among football fans. The company spends more than $100 million a year advertising during NFL games, including the playoffs. And that figure does not include the Super Bowl or the previous halftime show that it sponsored. Pepsi also has individual advertising deals with 15 NFL teams, the largest of which is with the Dallas Cowboys.
Pepsi uses its advertising budget with the NFL to promote its popular game day snacks and beverages, including Doritos and Lay’s potato chips, Pepsi and Mountain Dew soft drinks, and, of course, its Gatorade sports drink. Many of these products can be expected to see sales upticks on NFL gamedays. PepsiCo clearly sees the benefit in tying its products to America’s most popular sports league.
PEP stock is down 2% so far in 20203.
On the date of publication, Joel Baglole held long positions in GOOGL and AAPL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
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The post It’s Game Time: 3 NFL Stocks to Buy This Month appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com Apple (NASDAQ:AAPL) — specifically Apple Music — is officially the sponsor of the Super Bowl halftime show, paying $50 million a year for what is billed as the biggest and most glamorous sponsorship in the world. AAPL stock has gained 40% year to date. On the date of publication, Joel Baglole held long positions in GOOGL and AAPL.
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Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com Apple (NASDAQ:AAPL) — specifically Apple Music — is officially the sponsor of the Super Bowl halftime show, paying $50 million a year for what is billed as the biggest and most glamorous sponsorship in the world. AAPL stock has gained 40% year to date. On the date of publication, Joel Baglole held long positions in GOOGL and AAPL.
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Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com Apple (NASDAQ:AAPL) — specifically Apple Music — is officially the sponsor of the Super Bowl halftime show, paying $50 million a year for what is billed as the biggest and most glamorous sponsorship in the world. AAPL stock has gained 40% year to date. On the date of publication, Joel Baglole held long positions in GOOGL and AAPL.
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AAPL stock has gained 40% year to date. Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com Apple (NASDAQ:AAPL) — specifically Apple Music — is officially the sponsor of the Super Bowl halftime show, paying $50 million a year for what is billed as the biggest and most glamorous sponsorship in the world. On the date of publication, Joel Baglole held long positions in GOOGL and AAPL.
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13480.0
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2023-09-24 00:00:00 UTC
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Is It Too Late to Buy Apple Stock?
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AAPL
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https://www.nasdaq.com/articles/is-it-too-late-to-buy-apple-stock-6
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nan
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Apple (NASDAQ: AAPL) is the most valuable company in the world by market cap, and its business has hit record heights since its founding 47 years ago. The company has had immense success with consumers, achieving leading market shares in many product categories. Its success with the iPhone has attracted more than a billion users and become a valuable tool in drawing consumers to other devices in its lineup.
Apple's potent products have caused its stock to climb over 135,000% since the company went public in December 1980. The company's meteoric rise over the years might suggest the best time to invest in Apple was long ago. However, the company continues to offer consistent gains. Warren Buffett's Berkshire Hathaway regularly increases its stake in the tech giant, most recently loading up on shares in the first quarter of 2023.
The iPhone company has a long history of offering reliable gains and could be an asset to any portfolio. Here's why it's not too late to invest in Apple's stock.
The preferred brand among consumers
Apple isn't always the first to a market, but it has proved particularly skillful at taking existing technology and using its unique design language to attract new users and eventually dominate that industry. The company has done just this with its initial venture into smartphones, tablets, smartwatches, and headphones. Other companies had years leading these markets but lost out once Apple entered the picture.
Consumer preference for its products has been most prevalent during economic challenges over the last year. Reductions in consumer spending on tech have burdened countless companies. According to data from IDC, PC shipments fell 13% year over year in the second quarter of 2023. Market leaders like Lenovo and Dell experienced shipment declines of 18% and 22%. However, the same period saw Apple's MacBook shipments rise 10%.
The company similarly outperformed its peers in smartphones. Counterpoint Research found that smartphone shipments plunged 24% in Q2 2023. Samsung's sales fell 37%, while Apple's decreased a more moderate 6%. Even amid economic strain, consumers strongly preferred Apple's offerings.
Apple has strategically created an interconnected ecosystem for its products that encourages consumers to continue using its devices for the long haul. Meanwhile, exclusive apps like Messages and FaceTime make users think twice before straying to the competition.
Macroeconomic headwinds have challenged Apple this year. However, it will have the most to gain as the market recovers. As a result, it's crucial to keep a long-term perspective with its stock. It continues to boast attractive profit margins, with products at 35% and digital services at 71% as of Q3 2023. The company is in good form and could thrive in the next five to 10 years, thanks to its leading position in tech.
The recent dip in Apple's stock price
Apple's stock has dipped 11% since the company posted its Q3 2023 earnings at the beginning of August. The period represented its third consecutive quarter of revenue declines, with revenue falling 1% year over year. The tumble came alongside slips in three of its four product segments as it continued to suffer from consumer pullback.
However, the company's ability to outperform the competition in smartphones and personal computers during the quarter proves its resilience. Meanwhile, it continues to see promising gains in its services business. Apple's services segment grew by 8% year over year in Q3 2023, earning the second-largest portion of the company's revenue at $21 billion.
The digital business includes earnings from subscription-based platforms like Apple TV+ and Music, as well as income from the App Store. These offerings have proved incredibly lucrative for Apple over the years, allowing it to lean less on product sales during uncertain times. And the business is on a path that could see it eventually overtake the iPhone as the highest-earning segment. In fiscal 2022, services reported revenue growth of 14%, double the growth of the iPhone.
If Apple's growth history has taught us anything, it's the importance of buying the dip. The company's stock doesn't often go on sale, and its command of consumer tech and booming services division will likely offer significant gains over the long term. For these reasons, it's not too late to buy Apple stock, and it is an excellent long-term option at its current position.
Find out why Apple is one of the 10 best stocks to buy now
Our analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed their ten top stock picks for investors to buy right now. Apple is on the list -- but there are nine others you may be overlooking.
Click here to get access to the full list!
*Stock Advisor returns as of September 18, 2023
Dani Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (NASDAQ: AAPL) is the most valuable company in the world by market cap, and its business has hit record heights since its founding 47 years ago. The preferred brand among consumers Apple isn't always the first to a market, but it has proved particularly skillful at taking existing technology and using its unique design language to attract new users and eventually dominate that industry. The company's stock doesn't often go on sale, and its command of consumer tech and booming services division will likely offer significant gains over the long term.
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Apple (NASDAQ: AAPL) is the most valuable company in the world by market cap, and its business has hit record heights since its founding 47 years ago. The iPhone company has a long history of offering reliable gains and could be an asset to any portfolio. The recent dip in Apple's stock price Apple's stock has dipped 11% since the company posted its Q3 2023 earnings at the beginning of August.
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Apple (NASDAQ: AAPL) is the most valuable company in the world by market cap, and its business has hit record heights since its founding 47 years ago. The recent dip in Apple's stock price Apple's stock has dipped 11% since the company posted its Q3 2023 earnings at the beginning of August. Apple's services segment grew by 8% year over year in Q3 2023, earning the second-largest portion of the company's revenue at $21 billion.
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Apple (NASDAQ: AAPL) is the most valuable company in the world by market cap, and its business has hit record heights since its founding 47 years ago. Meanwhile, it continues to see promising gains in its services business. Apple's services segment grew by 8% year over year in Q3 2023, earning the second-largest portion of the company's revenue at $21 billion.
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13481.0
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2023-09-24 00:00:00 UTC
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Got $3,000? These 3 Stocks Could Double Your Money by 2030.
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AAPL
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https://www.nasdaq.com/articles/got-%243000-these-3-stocks-could-double-your-money-by-2030.
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The technology sector has gained a reputation for offering investors significant gains over the long term. The sector is constantly evolving, thriving from a system where consumers and businesses must upgrade various devices every few years. As a result, it's an excellent place to find solid growth stocks.
The chart below shows how Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) have all more than doubled their stock prices in the last five years. While past growth isn't always indicative of what's to come, these companies are leaders in their respective areas of technology, and have expanding businesses in lucrative markets, such as artificial intelligence (AI).
Data by YCharts.
The growth potential of these companies means you don't need tens of thousands of dollars to see a considerable return on your investment. So, if you got an extra $3,000 after meeting expenses, here are three stocks that could double your money by 2030.
1. Apple
As the world's most valuable company, with a market cap of $2.8 trillion, Apple has a long history of consistent growth. Investment mogul Warren Buffett has become one of the company's biggest proponents. His holding company, Berkshire Hathaway, has entrusted 46% of its portfolio to it. Since Berkshire first invested in Apple seven years ago, its share price has soared 560%.
The company has climbed to the top of tech by achieving leading market shares in most of its product categories. It has garnered immense brand loyalty from consumers with its interconnected ecosystem of products that discourages users from buying competing devices if Apple is an option.
Exclusive apps like Messages and FaceTime have hooked customers and made lifelong users out of millions of people. The company's success has led annual revenue to rise 48% over the last five years and operating income to climb 68%.
Apple has faced macroeconomic headwinds this year, causing revenue declines in multiple product segments. But its increasing use of AI across its lineup, the upcoming venture into virtual/augmented reality, and a booming digital services business will likely take it far. Despite recent hurdles, I wouldn't bet against Apple at least doubling your money over the next seven years. In fact, it's worth dedicating about 40% of the $3,000 to the company. An investment of about $1,225 would buy seven shares at its current price.
2. Microsoft
As the home of potent products and platforms such as Windows, Office, Xbox, Azure, and LinkedIn, Microsoft is easily one of the most reliable investments available. Millions of consumers and businesses worldwide depend on the company for productivity and entertainment. And in 2023, it has emerged as one of the biggest names in AI.
Management invested $1 billion in ChatGPT developer OpenAI in 2019 and has since increased that figure by another $10 billion, putting its ownership stake at 49%. The partnership has allowed Microsoft to obtain exclusive licenses on several of the start-up's AI models, including the one responsible for ChatGPT.
OpenAI's technology and Microsoft's popular productivity software could prove to be a lucrative combination over the long term, and the company has already brought AI upgrades to several of its services, including its Azure cloud and the Office programs Word and Excel. It plans to launch a range of AI tools on its subscription-based 365 Office suite.
The company is well-equipped to become the go-to for anyone interested in using AI to boost efficiency, whether in business, in school, or at home.
Microsoft's shares have soared 884% in the last decade. With the power of AI, there's no telling how far that figure could rise over the next ten years, and it has an excellent chance of doubling your investment by 2030. With similar potential to Apple, I'd equal an investment in Microsoft and buy four shares (about $1,280).
3. Alphabet
Like Microsoft, Alphabet is home to some of the world's most recognizable products and platforms, with immense growth from Google, Android, and YouTube, to name a few. As a result, its annual revenue has risen 107% since 2019, with operating income up 130%.
The biggest reason to invest in Alphabet is its dominance in digital advertising, with billions of dollars in earnings each year through ads on YouTube and Search. Meanwhile, millions of businesses rely on Alphabet to provide income-generating ads on their websites.
The company has struggled over the last year as rising interest rates have curbed spending on ads, but easing inflation has put Alphabet on a recovery path. In the second quarter, revenue rose 7% year over year, beating analysts' estimates by close to $2 billion.
In recent years, Alphabet has seen solid growth in its Google Cloud, which increased revenue by 28% in the second quarter. The company is steadily expanding its library of AI tools on the platform, launching its own version of ChatGPT earlier this year. Google Cloud might not grow to the heights of platforms like Amazon Web Services, but it has a solid role in the industry with its third-largest market share.
Alphabet's command of the digital advertising market, alongside expansions into other high-growth areas of tech, makes it a solid way to see significant gains by 2030. The remaining $495 of your $3,000 investment would yield 3.7 shares in Alphabet. However, an extra $30 would bump you up to four full shares.
Find out why Apple is one of the 10 best stocks to buy now
Our analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed their ten top stock picks for investors to buy right now. Apple is on the list -- but there are nine others you may be overlooking.
Click here to get access to the full list!
*Stock Advisor returns as of September 18, 2023
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Dani Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon.com, Apple, Berkshire Hathaway, and Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The chart below shows how Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) have all more than doubled their stock prices in the last five years. While past growth isn't always indicative of what's to come, these companies are leaders in their respective areas of technology, and have expanding businesses in lucrative markets, such as artificial intelligence (AI). It has garnered immense brand loyalty from consumers with its interconnected ecosystem of products that discourages users from buying competing devices if Apple is an option.
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The chart below shows how Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) have all more than doubled their stock prices in the last five years. In recent years, Alphabet has seen solid growth in its Google Cloud, which increased revenue by 28% in the second quarter. The Motley Fool has positions in and recommends Alphabet, Amazon.com, Apple, Berkshire Hathaway, and Microsoft.
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The chart below shows how Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) have all more than doubled their stock prices in the last five years. Apple As the world's most valuable company, with a market cap of $2.8 trillion, Apple has a long history of consistent growth. OpenAI's technology and Microsoft's popular productivity software could prove to be a lucrative combination over the long term, and the company has already brought AI upgrades to several of its services, including its Azure cloud and the Office programs Word and Excel.
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The chart below shows how Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) have all more than doubled their stock prices in the last five years. The biggest reason to invest in Alphabet is its dominance in digital advertising, with billions of dollars in earnings each year through ads on YouTube and Search. In recent years, Alphabet has seen solid growth in its Google Cloud, which increased revenue by 28% in the second quarter.
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13482.0
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2023-09-24 00:00:00 UTC
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1 Reason Apple Stock Is a Screaming Buy, and 1 Reason to Avoid It Like the Plague
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AAPL
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https://www.nasdaq.com/articles/1-reason-apple-stock-is-a-screaming-buy-and-1-reason-to-avoid-it-like-the-plague
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Over the past five years, shares of Apple (NASDAQ: AAPL) have soared 218%, which translates to an annualized gain of 26%. That rise undoubtedly beats the gain of the Nasdaq Composite Index by a long shot.
But shares are off about 11% from their all-time high price (as of Sept. 21), a move that came about after the business reported its fiscal 2023 third-quarter earnings. Perhaps investors aren't happy with softer sales trends.
Regardless of what the latest numbers show, it's important to gain a better understanding of Apple. Here's one reason that this top FAANG stock is a no-brainer buy, as well as one reason that investors are better off avoiding it altogether.
Superior products and services
It might be a smart idea to only invest in businesses that sell the best products and services. Anyone who's an Apple customer would probably agree that this statement is accurate for this company.
Apple boasts a top-notch hardware lineup that includes the iPhone, which represented nearly half of overall company revenue in the most recent quarter (ended July 1), MacBook, Watch, AirPods, and iPad. Combined, these products account for 74% of Apple's sales.
It's hard to understate the success of the iPhone. While it has a small share of shipment volumes, its pricing power allows it to command more than 80% of the operating profits in the smartphone industry. And analysts believe the newest upgrade cycle's demand is outpacing supply.
Then there's the budding services segment, which houses valuable software offerings like Pay, TV+, iCloud, and Music. This segment only represents 26% of revenue, but it has generally grown faster than the hardware division, while also registering a much higher gross margin.
Apple Pay's success is especially noteworthy. Since being introduced in 2014, it has become the second most widely accepted digital wallet at the top 1,500 retailers in North America and Europe, behind only PayPal. But the fintech giant was founded in 1998, so Apple Pay's rapid ascent is impressive.
The combination of Apple's hardware and internally developed software is what creates a powerful ecosystem. It's what drives customer loyalty, reducing the chances that anyone makes the switch to Alphabet's Android or another competing smartphone operating system.
The legendary Warren Buffett agrees. He argued that if you offered someone $10,000, with the only stipulation being that they couldn't use an iPhone again, they'd most likely turn down that deal. That stickiness exemplifies Apple's success.
The price you pay for Apple matters
I don't believe many investors argue with the outstanding quality of Apple's business, but that doesn't automatically make the stock a screaming buy. The question remains of just how much one is willing to pay for exposure to this dominant company in their portfolio. Therefore, a discussion about the valuation can't be ignored.
After the stock's outperformance in recent years, it currently trades at a trailing price-to-earnings (P/E) ratio of 29.4. That's more expensive than Apple's trailing 10-year historical average of 20.3, and it represents a huge premium to the S&P 500. A higher valuation, all else being equal, diminishes the chances of higher returns going forward.
Now, investors must ask if Apple's growth prospects justify that huge premium. And I don't think they do. Revenue has declined on a year-over-year basis in each of the last three quarters. This business is at a very mature stage of its lifecycle, so unless there is a game-changing new product on the horizon that can significantly move the needle on the top line, it's hard to have confidence that Apple can achieve double-digit revenue gains in the years ahead.
To be fair, Apple has shown its ability to boost earnings at a faster clip than sales, a trend that's helped by the growth of the high-margin services segment. But at a P/E of almost 30, it's still asking investors to have a ton of optimism.
The takeaway is that this is a fantastic business, and the current valuation accurately reflects this perspective.
Find out why Apple is one of the 10 best stocks to buy now
Our analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed their ten top stock picks for investors to buy right now. Apple is on the list -- but there are nine others you may be overlooking.
Click here to get access to the full list!
*Stock Advisor returns as of September 18, 2023
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Neil Patel and his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, and PayPal. The Motley Fool recommends the following options: short December 2023 $67.50 puts on PayPal. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Over the past five years, shares of Apple (NASDAQ: AAPL) have soared 218%, which translates to an annualized gain of 26%. Apple boasts a top-notch hardware lineup that includes the iPhone, which represented nearly half of overall company revenue in the most recent quarter (ended July 1), MacBook, Watch, AirPods, and iPad. This business is at a very mature stage of its lifecycle, so unless there is a game-changing new product on the horizon that can significantly move the needle on the top line, it's hard to have confidence that Apple can achieve double-digit revenue gains in the years ahead.
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Over the past five years, shares of Apple (NASDAQ: AAPL) have soared 218%, which translates to an annualized gain of 26%. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. The Motley Fool has positions in and recommends Alphabet, Apple, and PayPal.
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Over the past five years, shares of Apple (NASDAQ: AAPL) have soared 218%, which translates to an annualized gain of 26%. The price you pay for Apple matters I don't believe many investors argue with the outstanding quality of Apple's business, but that doesn't automatically make the stock a screaming buy. This business is at a very mature stage of its lifecycle, so unless there is a game-changing new product on the horizon that can significantly move the needle on the top line, it's hard to have confidence that Apple can achieve double-digit revenue gains in the years ahead.
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Over the past five years, shares of Apple (NASDAQ: AAPL) have soared 218%, which translates to an annualized gain of 26%. Anyone who's an Apple customer would probably agree that this statement is accurate for this company. Apple Pay's success is especially noteworthy.
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13483.0
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2023-09-24 00:00:00 UTC
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Stock Stories, Vol. 8: The Dividends of Patience
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https://www.nasdaq.com/articles/stock-stories-vol.-8%3A-the-dividends-of-patience
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nan
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We've got five stock stories to make you smarter, happier, and richer.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
10 stocks we like better than Walmart
When our analyst team has an investing tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Walmart wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of 9/18/2023
This video was recorded on Sept. 06, 2023
David Gardner: Some people like fantasy stories, like them so much that is a culture we're spending, oh, I don't know I have already paid about 1.4 billion dollars at the box office worldwide this year to see a fantasy story made and supportive of Mattel toy named Barbie. We all can think of our favorite bedtime story, Harold and the Purple Crayon where the wild things are. It's often said of us human beings that we are a storytelling race, the call of the story, the prehistoric campfire, where stories were acted out. Huge industries today have been built up just around celebrity stories or how about sports, the news scores, results, the stories we remember from our own athletic exploits, however scanty they may be, in my case, stories, stories, stories, stock stories. Every stock tells a story.
As investors, we get to know our company's mission, maybe know their marketing tag line, that's the story by the way. We follow the share price, we experience highs and lows, sometimes dizzying highs or cavernous lows, sometimes both. Our experience as investors gives us the long view, the foolish view, capital F equates us with great prosperity creating stories, especially, look across a portfolio, look up and down your brokerage statement and I bet you see stories. Well, for the eighth time in this podcast's history this week, we focus on telling stories. Now we're a stock market podcast so these are stock stories. Visiting me around the campfire this week, are five talented Motley Fool contributors, each of whom has a story to tell, five stock stories to make you smarter, happier, and richer. Only on this week's Rule Breaker Investing.
Kirsten Guerra: It's the Rule Breaker Investing podcast with Motley Fool Co-Founder David Gardner.
David Gardner: Yes, the sound as we say of rules being broken. I know that window shattering sound can be disruptive for some we've gotten mailbag notes about that in the past, we even turned it down a notch so that the version I think that you're getting in 2023 is not so disruptive as it was in 2015, but never mind about windows shattering because this is the more stress reducing sound you're going to be hearing often in this week's podcasts, this. [NOISE] More about that in a sec. Authors in August, a one-of-a-kind mailbag last week reminds me to mention that we have a wonderful, not just author but thinker on the podcast next week, and that's Arthur Brooks of Harvard University most recently teaching fame author Arthur Brooks's columns in the Atlantic on Happiness. He and I are going to be talking about his new book with Oprah, which is its own thing but I read a wonderful book called Love Your Enemies in 2019 that he wrote. We're going to be talking about the state of our country in some ways but really the state of our hearts and I'm looking forward to joining in with Arthur Brooks and you next week. But today not to stray too far from our campfire, which is Rule Breaker Investing, we're headed back to the campfire back to the stock market, back to the campfire around which we talk about the stock market this week. Before we get started, I want to mention that we'll be reviewing five stocks indistinguishable from magic, stuff that into the mailbag at the end of this month but just last week, those five stocks, that five stock sampler finished out and we'll be reviewing some of the lessons and of course the numbers, but I'm going to do that at the end of this month and stick to just stories this week.
Now this week I've asked my friends and fellow analysts here at the Fool to tell the story of some stocks, not story stocks not necessarily but the linguistic reverse, stock stories. It's something we do on these podcasts, this is volume 8, in fact. All previous volumes in the series are worth listening to, I hope and this week's podcast stands shoulder to shoulder with all past ones every story is new. As I mentioned earlier, I have five Fools queued up looking forward to sharing them and their stories with you for some education, amusement, and enrichment. Now they're not just going to be talking about the company which is so often how we think about investing with Rule Breaker Investing, we think we're buying pieces, shares of companies. We love business focused investing at The Motley Fool, but in particular, I've asked each of our guests this week to identify where the stock was, maybe the few different points include the stock in their stories. If we do our job this week, we'll be making you smarter, happier, and richer, you'll be enriched by these stories. Now as we get prepared here I do have an exciting announcement due to the growth of this podcast over the years as explained last time, we can now afford more sound effects than we could in past years. My talented producer, Rick Engdahl will be bringing some sound to the stories that you hear. Now we're going to keep it simple and augment overtime. Rick, I'm going to ask you to queue up the single sound effect that you've already previewed to set the mood for story Number 1. All right, that helps me to start setting the right tone here as we welcome my friend, Robert Brokamp. Robert, welcome back to Rule Breaker Investing.
Robert Brokamp: Such a pleasure, David good to see you again and to hear you again as well.
David Gardner: You bet Robert, and before we get started let me ask you, what are you doing around the Motley Fool these days? I suspect it's the same thing you said last time, but there are always new listeners.
Robert Brokamp: I am the lead advisor of the Motley Fool's Rule Your Retirement Service, which is I think our third oldest service, now 19 years. I'm a weekly contributor to the Motley Fool Money podcast and I am on the Fools 401K committee.
David Gardner: Fantastic. A Motley array of responsibilities and we're so fortunate to have you fulfilling those so ably, and here you are finding yourself around a campfire of all places to tell us stock story and I know Robert stock stories aren't necessarily something you spent a lot of time with, as our Rule Your Retirement expert along many dynamics, you don't necessarily think stock by stock but you are this time.
Robert Brokamp: I am, indeed.
David Gardner: Before we start, have you seen Barbie yet? If so, your one-sentence non-spoiler review.
Robert Brokamp: I have seen it. I would say if you are open-minded and like quirky ideas and concepts you will love it.
David Gardner: Thank you very much for that. How about an adjective maybe a bit interesting or surprising to describe this campfire setting that we find ourselves in right now before we start?
Robert Brokamp: I would say bicycle centric because I'm in the process of trading for RAGBRAI, which is the annual ride across Iowa, which is a week long bike ride where you ride all day and you camp at night.
David Gardner: Wow. Well here is Rick, sound effect Number 1, to set the tone and Robert, as we settle in here what stock will you be telling a story about?
Robert Brokamp: Home Depot?
David Gardner: Excellent. Ticker symbol?
Robert Brokamp: HD.
David Gardner: What's the title of your story?
Robert Brokamp: The title of my story is dripping my way to a 34-bagger.
David Gardner: That sounds very promising. Robert, get us started.
Robert Brokamp: Well, David and listeners, once upon a time, I had more hair. In fact, it was many years ago, 1997 or so, I was 28 years old teaching English at an elementary school in Washington, DC. I wasn't making a lot of money. I was living in an expensive city, already had a kid at that time. So I figured I should get educated about personal finances. I began to use a relatively new thing called the Internet to learn as much as I could about personal finances and investing. In fact, I stumbled across then newest site called the Motley Fool, David, I don't know if you remember. This is about the time we first met at a book signing at the Borders Bookstore in Alexandria, Virginia.
David Gardner: I do remember that very night and that very moment, and it's such a delight to reflect back on.
Robert Brokamp: I still have my signed copy of the Motley Fool Investment Guide from that time. Anyway, this was also the thick of the dot-com bull market. The S&P 500 was returning between 20% and 35% every year from 1995-1999. So I was very eager to start investing. Now back then, you still had to pay commissions to buy stocks. Anywhere from $10 to $50 depending on your broker, which you know, that could eat into your principal if you were just investing small amounts of money as I was doing back then. But I learned about programs called direct stock purchase plans and dividend reinvestment plans, more commonly called DRIPs, that allow you to buy stocks directly from the company with no commissions. I decided, since I didn't have a whole lot of money, that this was the way for me to go. I took a look at all the companies that offered these kind of programs and asked what company do I think will be around for a long time, and I decided upon Home Depot. I invested the minimum that you had to invest back then, $500 via Home Depot's DRIP plan. I would love to tell you the exact date and the exact number of shares I bought, but the transfer agent that was running the program switched in 2000 and I lost the first three or four years of my information. It's going to be really challenging if and when I decide to sell stock, but I haven't yet, which is part of the lesson today's plan. But let's just assume it was mid-1997.
On June 30th of that year, Home Depot closed at a split-adjusted $15.33. Where is it today? Well, as of this taping, it's at $328.31. It has gone up more than 21 times in price in 26 years. But wait, there's more. That's just the price return. I've been reinvesting the dividends all along the way. The great thing about dividends is they tend to go up every year, usually at a rate that beats inflation, if you choose the right company. In Home Depot's case, in June of 1997, it paid a quarterly dividend of two cents when you adjust it for stock splits. The most recent dividend paid in August of this year, $2.09. The dividend has grown more than 100 times in value. Since the late '90s, I've been buying more shares with the reinvested dividends, which leads to more dividends, which allows me to buy more shares, which pay more dividends, more shares. It's the dividend snowball. Put it all together, my original, I'm guessing, I bought maybe 27 shares. I now own 52. My initial $500 investment is now worth more than $17,000, making it a 34-bagger on a total return basis. Now when I retire, I'm going to turn off the dividend reinvestment, have that money transferred to our bank account, and then hope to pay for a decent vacation or maybe a small home renovation. Thanks to Home Depot. [laughs]
David Gardner: All off of $500 initial allocation. I love, Robert, that you pointed out it wasn't just a 21-bagger, which was just straight up price, but you added so much juice to it by reinvesting the dividends. When you were talking about 1997 and part of the beauty of DRIPs, so-called back then, was you could skip commissions in an era in which commissions were very significant. These days, commissions are often at or near zero dollars a share. But, Robert, I assume you still like and would advise people to sign up for dividend reinvestment programs because the dividend goes right back in and there is some convenience there as well.
Robert Brokamp: Absolutely. Yes, it's automatic reinvestment. It's automatic dollar-cost averaging, right? Because like your contributions to your 401(k), the dividends, you're regularly purchasing shares. When the price is high, you don't purchase as many. When the price is low, you purchase more. Jeremy Siegel, famously the author of Stocks for the Long Run, has called dividend reinvestments something like the bear market return accelerator. Because when stocks go down, the dividend reinvestment buy more shares. It has your portfolio recover faster than the overall stock market.
David Gardner: Part of the promise of stock stories, Robert, is that we draw a didactic lesson and punch it home for our fellow listeners around the campfire. There's a lot here. I see a 25-plus years story, and I tend to fall in love with stories about the long term and persistence and patients and sometimes just forgetting you even had the position and discovering what it's worth. That's part of what I see in the story, but there are a number of things to highlight. What is the didactic lesson you would like us all to take away as we steer deeply into the campfire looking for truth?
Robert Brokamp: The lesson I would say is that investing even small amounts can pay off. I remember when I was in my classroom printing out the Fools' 13 Steps to Investing Foolishly on a dot matrix printer, another teacher came up to me and said, "What are you doing?" I said, "Well, I'm starting to learn how to invest." The teacher said to me, "You can't invest, you don't have enough money." But if you just put in small amounts of money on a regular basis, give it 10, 20, 30, 40 years, even 50 years, and we have long-term time horizons because we have to take until the end of our lives really for our entire portfolio, it can really add up.
David Gardner: Fantastic. I can't imagine a better way to start this volume, Volume 8 of Stock Stories. Robert Brokamp, thank you so much for joining us and Fool on, my friend.
Robert Brokamp: Fool on to you as well, sir.
David Gardner: But wait, before I let you walk away from the campfire, we need to preview, Robert, that last year, around the day of Halloween, you and I did a memorable podcast. You were telling scary stories in this case about often wills and estates and famous people who didn't actually make a will. Those were scary stories, so scary at such the right time of year we said together let's do it again. Next year, Robert, you will join me in mid-October, some weeks hence, we will do our second volume together of scary financial stories. Do you already have one or two in mind, and I'm not asking to tell them now?
Robert Brokamp: Well, I have some in mind and I assure you they will be frightening.
David Gardner: Excellent. I look forward to you scaring the heck out of us around six weeks from now. Thanks so much, Robert. Onto stock story number 2, Bill Barker, welcome back to Rule Breaker Investing.
Bill Barker: Thanks for having me.
David Gardner: A delight to have you. This is I think your first time around the stock story campfire for Rule Breaker Investing and, Bill, I'm curious, what's an adjective, maybe an interesting or surprising adjective that comes to mind in this campfire setting?
Bill Barker: Far from surprising, but I've spent time up in the Adirondacks. Family has a place there and almost everything is referred to as campy. Shows with the atmosphere is not very thoughtful or inventive can't be accurate.
David Gardner: Can't be as accurate. Thank you, Bill and in fact, Rick is making things slightly can't be accurate as we speak by threading in that second sound effect with your second story. As he's doing that, Bill, what are you doing around Fooldom these days? Give us a one-sentence, who you are in Fooldom.
Bill Barker: After many years in asset management, I'm back on the publishing side working primarily on the small stock service, firecrackers and working with Bill Mann, who I've worked with many times in many different places and with Tom.
David Gardner: Wonderful. Thank you for that. Bill thank you for all that good work. And not to throw you off your game too much. But have you seen Barbie? And if so, how about a one sentence non spoiler review?
Bill Barker: I have seen it. A one-sentence review would be given it a B+. That's my review.
David Gardner: B+ is good enough. Admittedly, I have not been there yet, but I look forward to seeing it, especially in light of Bill Barker's B+.
Bill Barker: I don't hand out A just automatically the [laughs] way things seem to be going more and more. A B+ is a good grade back in our day, you went to class, you worked hard and you got a B+, in a subject where there's honest grading going on, that was not a bad grade at all.
David Gardner: Heck, let's get into your stock. What stock will be telling a story about?
Bill Barker: I'll be telling a story about XPO, Inc.
David Gardner: Ticker symbol XPO.
Bill Barker: XPO.
David Gardner: Bill, what is the title of this story?
Bill Barker: I guess the title is Undeserved Good Fortune. Let's go with that once upon a time. This is a stock that I came to meet for the very first time back when I was doing asset management and I was at a conference. An Investor Conference institutional thing and the format for those that don't know if you're in the business, you try to get some one-on-one meetings with management around if you don't particularly have the connections or the juice to get those one-on-one meetings. You sit in presentations in my asset management days and I'm watching a number of presentations that accompanies gives 40 minutes, 25-minute PowerPoint than 15 minutes Q&A and it was a small stock conference primarily. And I didn't have a lot of one-on-one meetings with management this day. I'm sitting there going through the conference schedule, picking out the companies that I want to hear based on what I know about them. There comes a 45-minute block where I don't know anything from any of the four companies giving a presentation, in four different rooms and so I just sit in my seat, I dive, I was there for a company I was interested in. The next company is gonna be XPO Logistics. Couldn't care less. I've got no interest in the business and I just don't feel like getting up and moving.
David Gardner: I mean it's not like the most inspiring corporate name either. If it had some campy fun name, you might have been adjusted, but it was XPO Logistics. That doesn't help logistics.
Bill Barker: I just thought, well, here's a chance for me to catch up on my sleep or something. The presentation was very persuasive. Early on in the days Bradley Jacobs was the CEO and he had taken over the company and had a history of rolling up companies. He'd done it with United Waste and United Rentals and now he was going to roll up the Truck Brokerage Industry. It was the first ending was the top of the first stemming. The company was doing less than 300 million a year in sales. And they wanted to be doing several billion within two years, three years, whatever it was, it was just a a ridiculous promise. I sat through it, took some notes, did my homework after, and was impressed with Jacobs history. This has been in my Asset Management days and we do a small position in the company and the early days. We watched it essentially go from 300 million in sales to about 15 billion in four years. They were 60 acts. It was a roll-up. They did not believe me, the stock price did not go 60 X because they had to raise money, they had to issue more equity than to take on debt. They had to get the money to buy all the pieces of this puzzle that they were putting together. And the stock when I met it in that conference room was low 10,12, $14, something like that. Four years later, it was in the 50s. In 2017 so we'll get to some other parts of the story in 2017. It goes from the 50s to about the high 70s. Then a rumor comes out that Home Depot was going to buy it to stop Amazon from buying it. This is a logistics company. Home Depot has got some logistics work, but they don't need the size company that XPO was for their own logistics needs and so it didn't make a whole lot of sense. It made sense at Amazon might take it over. But the stock went from 7,000, something like that on this rumor, everybody denied it, and of course nothing ever came of it. About a year later I sitting around, I was lying around actually because I just had my Achilles surgically repaired so I was in bed in a cast and story comes out, that short seller has got a report on XPO and it it gets cut in half. This is about a year later for about 110, ends up down around 4050.
David Gardner: Wow.
Bill Barker: That was about four or five years ago in the year since its visited a lot of interesting places. It's split up into three companies. It's now XPO, RXO and GXO. If you take all those and add them together, it's worth about 150 if you held onto everything throughout the whole time. It's been about a 10X in the last 11 years.
David Gardner: All bill, because you just sat through a presentation at a conference that otherwise you would have been on your phone on?
Bill Barker: I just I would just as likely in my case have been out in the lobby getting coffee. You could watch it any. I'm drinking coffee right now. I've pretty much always drinking coffee. My coffee bug buster been filled as the beating started. It was just pure luck because it was not in an industry that I was following, nor would a roll-up company in general, no matter how aggressive the promise and the opportunity would be in an unconsolidated industry. It's just not the type of thing normally I would be following.
David Gardner: Well, I'm about to ask you for the didactic lesson, the key takeaway that makes stories memorable and productive for listeners. But before I do that, Rollups just in general, we've seen this happen across a whole bunch of different industries. Somebody starts thinking I can be acquisitive. I can roll up the entire industry by just buying everybody out. I usually think of them as not a great model. It feels stressful. As a conscious capitalist who likes to think everyone's winning and being treated well. Often there are lots of layoffs around these things. I'm not a huge fan of Rollups Bill, but you've just told the story of a very productive winning company and investment in a roll-up that has been a serious home run.
Bill Barker: I agree. I'm not a fan of Rollups in general and would advise that people treat them no better and opportunity than anything else. But because of the history of Jacobs executing and rewarding shareholders that part in particular, not just doing a roll-up where management enriches itself by growing accompany 60 times and paying itself 60 times when it started out being with. But the stock needs to be reflecting that the equity shareholders are benefiting. He has done that three times and so I think the lesson here other than stay in your seat or keep your eyes open is watch Jacobs because he's pretty much extracted himself from the XPO story. I think he's got one more of these in him. I would be very interested to follow along again if the opportunity comes up.
David Gardner: Well, you have all of us watching. And I love that example. It's the invest in the jockey, not the horse and pay attention is the jockey hops off the horse, pay attention to the jockey. Sometimes people get carried away with the race or start overrating the horses. But the humans that are running things that are making the decisions for the horse, leading to results in the race that is very worthwhile doing, especially when you find a good jockey. Bill Barker, thank you for that campfire story Number 2 on this week's podcasts, I pre invite you back to our next campfire whenever we hold it.
Bill Barker: That'd be great. I would look forward to coming up with another story with a different lesson. Because there are so many out there.
David Gardner: You've got a lot in you. Bill Barker. Thank you so much full-on.
Bill Barker: Thank you.
David Gardner: All right, onto Stock Story Number 3. Kirsten Guerra, welcome back to Rule Breaker Investing.
Kirsten Guerra: Thanks for having me, David.
David Gardner: It is your first time around our stock story campfire and I'm already hearing that Rick is adding a key third sound into our audio setting. You and I Kirsten may or may not be at a real campfire, but how about an adjective? Maybe a bit interesting or surprising to describe this campfire setting that you find yourself in.
Kirsten Guerra: Hot. It is 98 degrees outside and we're at the campfire, David, what are we doing?
David Gardner: Why are we doing that? It's a good question. Speaking of doing, what are you doing around Fooldom these days, Kirsten?
Kirsten Guerra: I'm working over on Stock Advisor and I'm also contributing at interconnected opportunities, focused on essentially anything connected to Cloud. That's what we do over there.
David Gardner: Love it. Thank you for both. Have you seen Barbie yet? And if so, your one-sentence non spoiler review.
Kirsten Guerra: I have seen Barbie and I will say if you haven't, you don't need to see it in theaters.
David Gardner: That is helpful.
Kirsten Guerra: I hope that's not a hot take.
David Gardner: Bill Barker who just left before you gave it a B+. I was starting to think I should go to the theater, but I'm happy not to go to the theater, but still watch it on streaming inevitably down the road. Thank you for that, Kirsten. Let's get into your story now. What is the title of the story you'll be telling us?
Kirsten Guerra: The title I have is, My Biggest Mistake Was My Biggest Lesson.
David Gardner: That is a promising title and we're going to hold off on what the company name is because that might be part of the story. Kirsten, take it away.
Kirsten Guerra: Once upon a time; the year was 2014, The European Space Agency landed our first probe on a comet, the World Cup was in Brazil, Germany won. I was being told that I could divert up to 10% of my paycheck into my company's discounted stock purchase plan. That company was Schlumberger. The ticker is SLB. I started there in late 2013 when the stock was around $90 a share. I remember in my first week, one of the presenters had pulled up the website and the stock prices right there on the front page and they were commenting something like, wow, $90, look at that stock run. I didn't really know anything about investing at that time, but the benefits overview that I was receiving about how I could divert some of my paycheck into that stock for a 7% discount by the way, paired with the general buzzing sentiment about how well the company was doing. Just sounded like a fantastic idea to me so I bought in. The stock price just kept climbing from $90, but numbers are just numbers. The actual business atmosphere behind those numbers was fantastic. Morale was high, motivation was generally abundant, culture felt very strong. Everything felt like a win. But let me back up for a second and tell you what Schlumberger does. It is an oilfield services company. It offers basically any service that you can imagine; drilling, well logging, which is like data collection in the oilfield, hydrofracking, extraction, software solutions. Anything that an operator might want, Schlumberger will do.
David Gardner: Well said.
Kirsten Guerra: Now operators are the companies that own the wells. They make the strategic decisions about how to develop a field or when and how to produce their wells. But the service companies are the ones that will come in, that will carry out those field operations, whatever the operator sells to do. Listeners may immediately recognize something about this industry, oil and gas that I worked in that I didn't really understand at the time as I was pouring my paycheck into this stock. That is, that it's highly cyclic. It is an industry whose fate is very fundamentally tied to the price of oil, and oil is a commodity. Most everything that influences the price of oil is outside the control of a company like Schlumberger. In 2014, what we were saying was an inventory surplus, which by the way was further exacerbated when economic sanctions were lifted on Iran in 2015, and their inventory came online too, so even more inventory surplus to come. We also had OPEC refusing to cut production levels and overall, softer economy with lower oil demand, partly driven by more interests in fuel-efficient vehicles, things like that. That all led to the price of oil dropping from over $100 a barrel to around $40 a barrel by the end of 2015. Yeah, so Schlumberger's stock peaked around $118 in mid-2014, and by late 2014, the layoffs started. I worked for Schlumberger as a micro-seismic geophysicist. Basically, our to operators was real-time mapping of the extent and the quality of their fracking operations. But it's like a luxury service.
Operators can forgo that real-time mapping to optimize the stimulation treatment. They can't just do it and still get a bunch out of the well so my service was one of the first on the cost-cutting chopping block. Over most of the six years I worked there, the company was haemorrhaging money, layoffs were perpetually on the table, people were always leaving, morale was understandably terrible, and two things were happening in response. My employment was at risk with the same company whose stock was plummeting with a significant portion of my salary and savings tied into that. Ultimately, I was incredibly fortunate that I was not laid off. Around 75% of my team was so it was a very real threat for several years there. That in hindsight, taught me a lot. I shouldn't have put so much money into a single company that I did not understand. Yes, to some degree I had an insider understanding of the company, but not really. I was a scientist. I was not an analyst at the time. To be clear, I shouldn't have invested so much, but I don't regret that I invested. Even cyclic businesses can be really great long-term investments, especially if they're oversold by others unwilling to wait. But you have to know what you're getting into to reasonably limit your exposure. Of course, I should not have allocated so much of my net worth into the same company that employed me. It is risky to tie your daily livelihood and your future savings to the same company. I don't want to scare anyone away. I think you should definitely look into taking advantage of employer stock offerings, that can be great, but be smart about it. Diversify, limit your exposure to any one company taking into account both your savings and your salary as part of the package.
David Gardner: You did a great job underlining multiple lessons there, Kirsten. A couple of things I just want to share back. Earlier around the campfire, Robert Brokamp was here talking about the benefits of dividend reinvestment plans, something that we certainly like at the Motley Fool and in part because sometimes there are discounts or just the convenience of having dividends rolled back in. So you're not gains saying any advice against using drips. I hear you saying, don't put everything into your company unless maybe you're the CEO, understand everything that's happening about the industry and can predict the future. But if you're not all three of those things, diversify.
Kirsten Guerra: Yes, exactly. There are people for whom it might make more sense who have a better understanding of the business. If you really know what you're talking about and you have some of that information, then sure. But I didn't have both of those things. What I did was risky.
David Gardner: I'm going to ask you in a sector punch home just a final, maybe one sentence take away the top lesson in your mind from what you just shared. As you think about that, I just want to reflect on you today versus you 10 years ago. A lot of studies show that we as adults underestimate the amount of future change in our lives. We can look back over 10 years and say, Kirsten, I think of you as a stock analyst, but you're a geoscientist. You were working at an oilfield services company 10 years ago. Just to think about the degree of personal growth, some risks that you've taken and the challenges that you face and who you are today makes me smile. But it also reminds us, who knows what any of us will be doing or thinking about 10 years from now? Again, it's easy to use hindsight. Look back and say how much we changed, but we should all at every age be ready for future change that may surprise us. That's at least one thought that I have as a takeaway is I hear you tell that Schlumberger story. What was the title again and what is your didactic takeaway?
Kirsten Guerra: My title was, My Biggest Mistake Was My Biggest Lesson. That mistake and that lesson was essentially, know the limits of your investment understanding and diversify appropriately.
David Gardner: Kirsten Guerra, thanks so much for joining with us this week around the campfire.
Kirsten Guerra: Thanks David.
David Gardner: Stay cool out there. Onto stock story Number 4, welcome to the Rule Breaker Investing stock story, campfire. Mac, Greer.
Mac Greer: David is great to be here.
David Gardner: It's great to have you Mac. As Rick threads in, the newest audio accompaniment to this week's podcast back for you. What does an adjective maybe that's interesting or surprising to describe this campfire setting, you find yourself in?
Mac Greer: Overpowering. I don't know if there's a dearth flame log or there's just something kicking off a lot of heat. I'm just going to have to stand back a little. It's truly overpowering.
David Gardner: I see that and yet I think your equal to the task. I appreciate you pointing that out. We we probably need to turn things down from time-to-time Rick Engdahl. Mac, you are one of our longest standing Motley Fool employees. You're one of my favorite Fools. What are you doing around Fooldom these days?
Mac Greer: David? I am a producer, so I produce our premium podcasts, which includes our Stock Advisor roundtable, as well as other premium programming. Very invested in our morning show on Motley Fool Live as well as special events.
David Gardner: I loved that and Mac, you've done a lot of those things for years and some of those things are relatively new in the sense that premium programming is something that we've done on and off. I once did a Supernova Podcast for the Fool back in the day, but highlight that for people who are not yet members of The Motley Fool. It turns out I can get more stuff if I'm a member and a lot of that is being produced by the talent we're speaking to around the campfire right now.
Mac Greer: Exactly, David. It's like this great big secret world, Willy Wonka, without some of the weirdness. [laughs] You're a member, you get premium video programming but you also now can have access to our premium podcasts through the magic of, well, I don't know how it works exactly. But you can take your Motley Fool account and you can link it to a Spotify account and that way you can get a members-only Motley Fool podcast.
David Gardner: Outstanding. I'm delighted to know we're doing that and that you are head manning that. Thank you Mac Greer. Before we get started, I would be remiss if I didn't ask you if you've seen Barbie yet and if so, your one sentence non spoiler review.
Mac Greer: I have seen it. We saw it the second day it was out. I would say, wonderfully ambitious.
David Gardner: Excellent, we'll leave it right there. Mac, what's stock will you be telling a story about this time?
Mac Greer: I will be telling about a little stock named Apple.
David Gardner: I've heard of that company. One of my pet peeves I've heard that out on this podcast before is that people sometimes get the ticker symbol wrong with this one. Marco what does the ticker symbol of Apple?
Mac Greer: You want me to say APPL?
David Gardner: I don't want you to say.
Mac Greer: I will not. I will say AAPL.
David Gardner: Thank you. I guess more importantly, what's the title of your story?
Mac Greer: The title is the dangers of early success
David Gardner: Take it away.
Mac Greer: Once upon a time Apple was in trouble, serious trouble. We may not be able to stay in business trouble. The year was 1997, the band Hansen was setting the music world on fire with that catchy song by Apple was in trouble. On August 6th of 987, Apple co-founder Steve Jobs revealed that Microsoft, led by Bill Gates, had invested $150 million in Apple. Microsoft received 150,000 shares of preferred stock in Apple. Microsoft invest 150 million in Apple. In following that deal David, Steve Jobs told Bill Gates, and this is a quote, "Bill, thank you, the world's a better place." Well, the world became a better place for me. Because a few weeks before that deal, David, a few weeks before Microsoft invested in Apple, I, Mac Greer had bought call options in Apple. It was the first time i hit ever bought stock options. I've been investing for 7,8 years. I bought gap Dell's other stocks but i never bought options. I was young ish. I was single, I was not risk averse at all so I decided to give options across. I don't want to get in the wheelchair here, but the big advantage of a call option versus a stock, as you know, is the call option really magnifies any gains in the stock. If the stock moves up a lot beyond that strike price, you stand to make even more money if you have the call options, which I did. Of course, if the stock is below the strike price at exploration, you lose what you pit. David, summer of 1987, I, by these call options for around $1 not knowing what's going to happen. Each of those call options controls around 100 shares of Apple or not around it does control 100 shares of Apple. [laughs] I buy them because I remember thinking, you know what, how much lower can Apple really go? [laughs] An option seems fun. A few weeks later, Jobs announces that Microsoft's invested 150 million in Apple. Apple stock shoots up in overnight. My options went from $1- $9.
David Gardner: That is absolutely insane, Mac.
Mac Greer: This is in the early days of the Internet. So I remember, I think I was at my lunch break during my job in DC and I think I may have been on the pay phone calling Schwab to get my options quote. I was just like in total disbelief as I hear that $9 price. I sold my options and I took my profits. David, you're thinking so far, so good.
David Gardner: I am thinking that. I'm actually thinking so far so great.
Mac Greer: So far so great. The story ends there and I learned my lesson and I never buy options again. Not so fast though. Unfortunately, I decided that I was good at investing in options and I started buying all sorts of options on names like Intel and Dell, and oh yeah, here's the kicker. I was also using margin. Yes. I wanted to juice my returns so no more of those sleepy buy-and-hold days. I was swinging for the fences using margin borrowed money to juice the returns even more. Well, David, not surprisingly, it did not end well. I started to lose money and then I started to lose more money. I learned eventually that I had no business investing in options. I wasn't paid for it. I wasn't using options for income or as a hedge or in ways that allow me to manage my risk. I didn't use options in any of the ways at the Motley Fool has prescribed. I was flat out speculating. I was gambling. Because my first big bet on Apple had paid off big time, I learned the wrong lesson. That's my first big takeaway. Success can be dangerous, especially early success. Make sure you're not learning the wrong lesson. Make sure you're not mistaking lock for skill. I wasn't smart. I was lucky. Now the second takeaway here is you can have a robust portfolio and you can have a very happy and productive and fruitful investing life without ever using options. I don't invest in options anymore. I know myself now and I can't do it. By the way, I don't use margin either. I don't have the stomach for it. The final takeaway and perhaps the most important one, stay humble. If you're on top of the world today, help someone who's not. Remember, there was a day back in August of 1997 when Microsoft essentially bailed out Apple. That's the same Apple that has around a three-trillion-dollar market cap today.
David Gardner: That is an absolutely outstanding point to conclude with. There was a lot going on there, Mac, I appreciate you taking us back to a time where yeah, we got stock quotes over the phone, we would call our broker or maybe there was the touch-tone opportunity to quote our stocks, but certainly online. May or may not have even had that yet, but before there was online, there were the phone quotes, so thank you for that. Mac, you mentioned that eventually you learned not to use options into our margin. How faster that eventually happen for you? Was it the big drop out of 2001 too are you like, I'm done here or did you keep doing it or did you stop right away in 1998?
Mac Greer: I think the.com crash pretty much finished me off because that was the end of it. I may have bought one or so after that, but that was pretty much it, the.com crash.
David Gardner: But most of all your concluding point about Apple. It is so remarkable to think back on that time and thanks for reminding us it was $150 million bailout investment from Microsoft just about 25 years ago today, 26 years ago. It's astonishing to think that Apple has the highest public company market cap in the world today, far larger than Microsoft. All from a seed investment which was a couple of decades after its founding truly remarkable. I love what Steve Jobs said and that was a great quote.
Mac Greer: It's incredible, David, and I don't mean to pile on Microsoft here because Microsoft they've had a great run. But here's a fun fact courtesy of an Engadget article I found online. 2001, Microsoft converted all of its Apple preferred shares and to around 18 million shares of common stock. By 2003, Microsoft had sold that entire stake. David, I'm no math wizard. [laughs] I don't know how many splits Apple has had since 2003.
David Gardner: Nobody should be fired for capital allocation in the Microsoft investment department. [laughs] That's what I'm hearing.
Mac Greer: In that an incredible world head Microsoft held that stake, they have to be what, one of the largest, if not the largest shareholders in Apple? [laughs]
David Gardner: Truly remarkable. Well, Mac Greer, thank you so much for joining us around this campfire and for punchy on. You gave several lessons, just the final thought, your final takeaway, if you were to boil it down the didactic lesson to just one sentence or so, what do you want to leave us with as you depart this hot, campy, overpowering campfire setting.
Mac Greer: I think there is a tendency when we succeed to give ourselves too much credit and to not give luck more credit. The best protection I found against that is to stay diversified and to keep my position pretty small and to realize that if something does blow up, if you have bad luck or good luck, you've at least constructed a portfolio that can withstand that.
David Gardner: That's great. In a lot of senses, these things work not just for investing, but also for business in our professional lives, staying humble, diversified, and of course, in life itself. So thank you for painting each corner of the Rule Breaker Investing room. Great to see you again, Mac. We'll have to do this again sometime. Happy camping.
Mac Greer: Happy camping.
David Gardner: Stock story number 5 this time, let's welcome to the Rule Breaker Investing stock story campfire, Jason Moser. Jason, welcome back.
Jason Moser: Hey, thanks for having me, David.
David Gardner: We're hearing Rick provide the final full accompaniment. Really sound being fully realized for our campfire setting this week, Jason. You're getting to hear it in its full fury. What is an adjective, maybe a bit interesting or surprising that comes to mind to you when you stare deeply into the campfire that we find ourselves sitting in front of right now?
Jason Moser: You know, David, I'm going to go with the word refreshing, and I think one of the reasons why I use that is because it just, this day and age, especially these last several years, we just haven't had the opportunity to work together so much, and that I think is something a lot of us miss. I didn't get involved in these collaborative experiences. To me, the first thing that comes to mind, this is just a refreshing change of pace.
David Gardner: Thank you. Very well said and thank you for for being refreshing for all of us. It's great to have you back. Jason, remind us in a sentence or two, what are you doing around the fool these days? Promote.
Jason Moser: Well, as many know for the last five years, I've been working as the advisor on our Augmented Reality and Beyond Service. Then also I'm working as the advisor on our Next-Gen Supercycle service and that's the one that's focused more on like connectivity in 5G related ideas. Then I get to continue with the Motley Fool Money stuff, and then helping out with Rule Breaker Investing podcast along the way.
David Gardner: I think man about town is fair to describe Jason Moser around Fooldom. It's great to have you here, and I have to ask you the question I've asked all my other guests because for some reason I have this on my mind this week. Jason, have you seen Barbie yet? If so, your one-sentence, non-spoiler review.
Jason Moser: I feel like people would probably bet that I haven't seen it. That'd be fair, but I'm going to surprise them and tell you what, David, I have seen it. It was something my daughter initially went to go see, made my wife jealous and so. My wife and I had a date night one night shortly thereafter. I will say going into my expectations for the movie, we're not all that terribly high for me. It was more about the company I was keeping. But I will say absolutely the movie exceeded my expectations. I think Ken's song was really probably the pinnacle of the movie for me. So much so my daughter who recently went away to college is coming back here in the next week and she has just told me that we have to go see that movie together. So you just don't have it any other way. [laughs] So yes, I did go see it. How about you?
David Gardner: Excellent. I have not yet, as I previously mentioned this week, and yet, I know I will, but whether I wait for streaming or not is my big question. But Jason, I will have to say, I was not surprised that you saw because I know you have [laughs] wonderful daughters and I feel like is a guy surrounded by three women and his nuclear family, you were going to see this movie at some point somehow.
Jason Moser: A fair assessment.
David Gardner: Well, enough about Barbie. What stock will you be telling a story about?
Jason Moser: I feel like years and years from now when I'm long and gone, I feel like the investing story of Jason Moser is going to be told and everybody is going to make sure that McCormick is a part of that story. So to no one's surprise, talking about McCormick. The ticker is MKC, not MCK, but MKC, McCormick.
David Gardner: Yes. What is the title of your Jason Moser McCormick story?
Jason Moser: Ninety percent of the flavor and 10% of the cost.
David Gardner: Excellent. Take it away, Jason.
Jason Moser: Once upon a time in February of 2010, a man named Jason Moser, a young buck, a green investor. What behind the years, [laughs] just started at the Motley Fool as just a member of the Analyst Development Program, not even guaranteed a job. He had to go through his educational rigor with the company. Didn't even have a shot with a career and 14 years later look where he is. But back in 2010, February 2010, I started with the Motley Fool. Around this time, McCormick shares were selling for an adjusted $14 and change. Now, records are somewhat fuzzy because this was a little while back, but I believe we went to McCormick headquarters at some point in 2011. Now, this was just a trip that I and a couple of colleagues from work decided to take one day, a boots-on-the-ground field trip to get a better idea about the company and what they do. They were fairly local. Located up in Hunt Valley, Maryland.
David Gardner: I did not know that. So McCormick is in Hunt Valley.
Jason Moser: It was an easy trip for us to take, just a day trip, and that was the general timeframe. But I was still new to the job, like I said, very well behind the years, learning so much. For me, it was an exciting opportunity. This was one of the reasons why I was so excited to start with a fool because of these types of opportunities. So we drove up to McCormick headquarters for the day. We had a terrific time. We met with the CFO at the time, I believe it's Gordon Stetz. We toured the whole place. This was probably a good 4-5 hour field trip that we took. Again, especially at the time, this is what struck me as a very Peter Lynchian type of experience. I had just read one up on Wall Street at the time. I mean, it really hit home for me. This is just one of those buy-what-you-know type of companies. We really got to know it very well. I have so many fun memories of my childhood learning how to cook from both of my parents. A lot of that just came from stretches, sitting in the kitchen, watching my mom or my dad do whatever they were doing, they would bring me into the mix and teach me how to do it. It's something that even connects us to this day and I can recall vividly opening up the pantry, just seeing stacks upon stacks of McCormick's spices. The color or the logo and all just kind of stuck with me. This field trip was something that reinvigorated, I guess, that interests really. Not in cooking, but really in in understanding exactly what McCormick did and if it was something that was worth considering as an investment idea. So I continue to follow it for years to come. You may remember on our old podcast Market Foolery.
One of Chris Hill's favorite questions to deliberate every now and then was what's the next Berkshire Hathaway acquisition? I always just answered McCormick. There were a couple of other times I would answer other companies like Ellie Mae or something like that. But McCormick was always my go-to because there just seemed to be so many Buffett-like qualities about this business. It was reliable, steady, strong returns, and I even said in April 2013, I laid it out there on Twitter at the time, David. Hear me now. Buffett and Berkshire will buy Spice Kings, McCormick & Company, under their umbrella one day. It's two Berkshire business, not two. Fast-forward to today, David, of course, that has not happened, but I'm actually grateful because that has allowed me to just stay on here as the shareholder for so long and benefit from watching this company grow into its thing. But it wasn't long after that, somewhere in the year 2013 where I bought my first shares of McCormick. That was somewhere in the $30 range adjusted for today. So $30 and change. I will mention too, by the way, just for listeners. One shortly, not long after that, you recommended McCormick in Stock Advisor on the team David side, and it's performed very well for you there, I think matching the market and close to 200% returner there.
David Gardner: I definitely have never been to Hunt Valley, Jason, but it is a timeless company, doing good things in the world that I admire, and I think especially somewhere back that I've never been a cook myself, but I started to realize spices are such an oncoming thing. I know they've been around forever, but it feels as if maybe I'm just thinking about American cuisine, but I think it's true worldwide, but I only really know American cuisine that it's just getting better and better. We have fusions with other forms of cuisine and spices. I think I had spices on the brain. I know you remember the classic plastics line that was delivered to a young Dustin Hoffman in the graduate. But I was probably saying spices to somebody somewhere around then. It has been a good investment. It's a company that I continue to appreciate today, but Jason, it's it's an iconic one for you. For me, I'm still confused as to why the ticker symbol is MKC. I know. I think we've always tried to noodle on, and I mean, I guess we could try to dig in and find out the history. I have to believe it has something to do with McKesson getting their first, but.
Jason Moser: I think so. I mean, to be clear, McCormick of course is MCC. I'm not online right now, so I'm not checking if somebody grabbed MCC, but I just see the K on the end of McCormick and I think it should be on the end of the ticker, but you're right, McKesson, which is another stock advisor, pick, got MCK. But more importantly, what have you been learning? What have you learned from having McCormick in the Moser Folio for so long?
David Gardner: Well, I'll tell you one thing I've learned is you never really underestimate where a business can go because certainly they've gone well beyond just spices. I mean, with acquisitions and RB Foods and bringing more flavors into their portfolio, sauces, things like that. Now they own French's and they own Frank's RedHot, and Cholula. This is a company that has certainly evolved over time. I think that's definitely one of the lessons I take away, but the big lesson I take away from a company like McCormick, owning a company like McCormick. I think about this now more than ever really given that we're not getting any younger David. I didn't want to be late to the game working on building out that income-generating side. My retirement portfolio.
Jason Moser: McCormick was one company that really helped me keep that thinking alive. It's something that talking about dividends and things like that is something my dad taught me when I was a kid. But when you're young and they tell you you're young, you can take more risky, have more time to make up for it. That's true to an extent. But you don't want to get to that older age having just completely neglected even beginning to build out that income side of your portfolio. For me, I'm glad I started thinking about the merits of owning a company like McCormick one I did. I even feel like it was maybe a little bit late to the game on that. But but I knew at some point the years would catch up, but I'd be happy that I'd taken advantage of that mindset. Complementing some of those younger companies that I own with a bit of stability and income generation. For me, I've continued to build out that income side of my, I'll say "retirement" portfolio. The reason why I put retirement in quotes is because honestly, even now I'm going on 51. Retirement is not a word I even really think about. I'm not looking forward to it. I'm not aiming to retire, but it is something I keep in the back of my mind. Life goes on and you have to do something at some point or another. McCormick is one that has really helped me keep my eye on that ball, and it's encouraged me to continue adding to other similar high-quality businesses that we like here at the Fool, other stable, income-generating ideas that have really helped me keep focused on that ultimately diversification that we value so highly here.
David Gardner: Well, that's wonderful, and just checking it right now, the dividend yield for McCormick as we speak is right around 1.9%. Robert Brokamp earlier, really, he kicked off this week's podcast with a reminder of the power of reinvesting dividends in companies like this one over a long periods of time. What was a 21 bagger in Home Depot for Robert is actually a 34 bagger because he consistently has reinvested dividends. You're right. None of us is getting younger so far as I could tell, on any given day, and setting yourself up for a stream of income later on in life with companies that will keep paying those dividends steady Eddies, like McCormick, like Home Depot. I'm a great reminder to us all. Of course a lot of listeners already are doing this, have done this for a long period of time, but we have a Motley crowd out there. Whatever age you are, I think you can take something wonderful away from Jason's story. Jason, can you remind me again of the title of your story and then give us, punch it out the takeaway line, as you think about your love affair with McCormick.
Jason Moser: Well, yeah, so 90% of the flavor and 10% of the cost and that really is to call back to their own value proposition they always try to tell us about. They're responsible for 90% of the flavor of the food that we're eating. But only about 10% of the cause. A tremendous value proposition starts to make a little bit more sense as an investment. I think looking back to the lessons, I mean, you don't want to wait really to try to plan for your future. I think that when it comes to investing the way we invest here at the Fool, we preach diversification, we preach position sizing. It's very easy to think about getting rich quickly. But let's focus on getting rich slowly. It's a journey. It's not something that we're going to achieve overnight. This is something we're building over long stretches of time and giving us a little bit of all of those different types of great businesses out there that can really work wonders in the long-haul.
David Gardner: Getting rich slowly as a much sure path to getting rich. It's actually a lot more fun to. You'd think it wouldn't be, but you take away a lot of the stress. You don't feel too bad during bear markets. You see them as opportunities and you have an opportunity, as Jason has done, to build out a diversified portfolio over time. It's like a garden or an orchestra. You want to have many different players, many different contributors, and watch that growth over time. Jason, thank you so much for joining us again this week on Rule Breaker Investing.
Jason Moser: Thank you.
David Gardner: Well, I hope you enjoyed this addition of Stock Stories Volume 8. If you did, there are seven others you can listen to for didactic lessons in other companies in the past, including some of the same voices you heard this week telling other stories around the same campfire that can keep you company on a cold autumn night. Assuming it gets cold and Autumn at some point here in the Northern Hemisphere. This year it will, just not quite yet. If you're on the East Coast this week, you get me also. I did enjoy our expensively post-produce campfires setting just the right tone, making our stories more memorable. For which I'd like to thank because I never do enough, my producer, Rick Engdahl. Rick, have you seen Barbie?
Rick Engdahl: Yes, I have.
David Gardner: Of course, you have.
Rick Engdahl: I do have a teenage daughter after all. [laughs]
David Gardner: How about a one-sentence reviewer thought from you or you can take an extra cents.
Rick Engdahl: Weird Barbie is the best Barbie.
David Gardner: As somebody who hasn't seen it yet, I will take your word for it. I know lots of others are not in their head and I'm sure in agreement. Rick, were you a weekend one viewer?
Rick Engdahl: I think so. The first or second weekend, I was there with my daughter and her friends. The reason to see it in a theater is to see it with a theater full of teenagers. Pretty much throughout the entire movie, there's plenty of spontaneous applause and laughter in the theater, and that's what makes it fun to be there.
David Gardner: You're right. That's a great note in favor of going to the theater. I totally get you. The audience, where they were talking about a movie or a play or a comedy show, the audience or a rock concert, the audience makes such a big difference to ones enjoyment. Well, thank you for that and thank you for the good work this week. To close, the reason that you and I can even read the Odyssey and the Iliad when we went through school is because there's an oral tradition that handed those stories down for centuries, which means great stories need to be memorable. I hope at least one of these was memorable for you dear fellow Fool and listener. This go-round, thank you again to Robert Brokamp talking about Home Depot, Bill Barker, XPO, Kirsten Guerra, her experiences in employee and investor in Schlumberger, Mac Greer, how can we forget that Microsoft's investment into Apple? Jason Moser, 90% of the flavor and 10% of the cost. That's Rule Breaker Investing for you this week. Next week, author and rule-breaking thinker, Arthur Brooks. Full-on.
Kirsten Guerra: As always, people on this program may have interest in the stocks they talk about. The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. Learn more about Rule Breaker Investing at rbi.fool.com.
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Bill Barker has positions in Apple, Berkshire Hathaway, GXO Logistics, Rxo, and XPO. David Gardner has positions in Amazon.com, Apple, and Berkshire Hathaway. Jason Moser has positions in Amazon.com, Apple, Home Depot, and McCormick. Kirsten Guerra has positions in Microsoft. Mac Greer has positions in Amazon.com, Apple, Berkshire Hathaway, McCormick, Microsoft, and Spotify Technology. Rick Engdahl has positions in Amazon.com, Apple, Berkshire Hathaway, Home Depot, Mattel, McCormick, Microsoft, and Spotify Technology. Robert Brokamp, CFP(R) has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon.com, Apple, Berkshire Hathaway, Home Depot, Microsoft, and Spotify Technology. The Motley Fool recommends GXO Logistics, Intel, McCormick, McKesson, Rxo, and XPO and recommends the following options: long January 2023 $57.50 calls on Intel and long January 2025 $45 calls on Intel. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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I will say AAPL. About a year later I sitting around, I was lying around actually because I just had my Achilles surgically repaired so I was in bed in a cast and story comes out, that short seller has got a report on XPO and it it gets cut in half. I didn't really know anything about investing at that time, but the benefits overview that I was receiving about how I could divert some of my paycheck into that stock for a 7% discount by the way, paired with the general buzzing sentiment about how well the company was doing.
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I will say AAPL. But I learned about programs called direct stock purchase plans and dividend reinvestment plans, more commonly called DRIPs, that allow you to buy stocks directly from the company with no commissions. This go-round, thank you again to Robert Brokamp talking about Home Depot, Bill Barker, XPO, Kirsten Guerra, her experiences in employee and investor in Schlumberger, Mac Greer, how can we forget that Microsoft's investment into Apple?
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I will say AAPL. See the 10 stocks *Stock Advisor returns as of 9/18/2023 This video was recorded on Sept. 06, 2023 David Gardner: Some people like fantasy stories, like them so much that is a culture we're spending, oh, I don't know I have already paid about 1.4 billion dollars at the box office worldwide this year to see a fantasy story made and supportive of Mattel toy named Barbie. A Motley array of responsibilities and we're so fortunate to have you fulfilling those so ably, and here you are finding yourself around a campfire of all places to tell us stock story and I know Robert stock stories aren't necessarily something you spent a lot of time with, as our Rule Your Retirement expert along many dynamics, you don't necessarily think stock by stock but you are this time.
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I will say AAPL. It has gone up more than 21 times in price in 26 years. David Gardner: Stock story number 5 this time, let's welcome to the Rule Breaker Investing stock story campfire, Jason Moser.
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13484.0
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2023-09-24 00:00:00 UTC
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3 Warren Buffett Stocks to See Skyrocketing AI Growth
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AAPL
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https://www.nasdaq.com/articles/3-warren-buffett-stocks-to-see-skyrocketing-ai-growth
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Master investor Warren Buffett may not strike you as an expert in artificial intelligence (AI). However, his portfolio includes several early leaders in the AI race.
So, what's the best way to invest in the ongoing AI surge under the guiding hand of the Oracle of Omaha? We asked three of The Motley Fool's top tech experts, and they came back with very different answers.
Read on to see why our AI panelists suggest e-commerce veteran Amazon.com (NASDAQ: AMZN), comsumer electronics giant Apple (NASDAQ: AAPL), or Buffett's own company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B).
Buffett's favorite stock to buy the best AI bet of them all?
Nicholas Rossolillo (Berkshire Hathaway): Sure, Berkshire Hathaway is invested in a couple of tech stocks such as Apple and Amazon that could log exceptional growth from AI. However, Berkshire Hathaway itself -- a stock Buffett and company have been repurchasing for years, including nearly $6 billion worth the first half of 2023 -- could be the biggest AI beneficiary of them all.
How so? After all, Berkshire's subsidiary businesses are dominated by "old and stuffy" industries such as manufacturing (Precision Castparts, for one), insurance (GEICO), transportation (BNSF Railroad), and utilities (PacifiCorp). No one in that list is going to be an AI innovator.
But that's just the point. The innovators will unleash new ways for organizations to boost productivity and automate redundancy with AI, and the "old and stuffy" will adopt it once it's tried and true. A recent report from researcher McKinsey asserts AI could unlock as much as $4.4 trillion in global annual productivity gains. Suffice it to say lots of companies in manufacturing, insurance, utliities, and such will be eager to get their hands on that tech if it's as promising as some expect it will be.
As more AI is adopted in software systems, this could provide a profit boost to Berkshire Hathaway -- which I'm sure the Berkshire team would be more than happy to turn around and reinvest by repurchasing more stock, or adding some other businesses into the portfolio. For the record, Berkshire's subsidiary businesses pulled in $18.1 billion in operating profit during the first half of 2023, a 9% increase from 2022. That adds up to a big, steady stream of fresh cash that can be invested, and it's the metric that could get the biggest AI boost over time.
Berkshire Hathaway stock has recently been hitting new all-time highs. It won't continue going straight up from here, but this remains a great core portfolio holding for investors of all types for the long term.
Buffett's largest holding has been on the AI trend for five years running
Billy Duberstein (Apple): Dynamic technology shifts like AI are actually a detriment in Buffett's long-term view of investing, which has kept Berkshire out of many technology stocks. So it might be curious that Apple is Berkshire Hathaway's largest stock position by far, accounting for a stunning 46% of Berkshire's equity portfolio.
But part of why Buffett likes Apple so much is that it's more of a beloved consumer brand, which doesn't have to necessarily be first on every tech trend in order to succeed. For instance, Apple didn't have the first MP3 player on the market, or even the first cellular handset. But its brand, its design chops, and its ability to incorporate technology in a way that's intuitive for consumers has enabled Apple to lead both of those markets.
Right now, the first big use cases for ChatGPT and other AI models seem more akin to search or enterprise-related productivity tools.
But as one of only a handful of large companies that can afford the enormous expense involved in building AI tools, Apple hasn't fallen behind. In fact, it formed a dedicated conversational AI group five years ago and has been infusing all of its products with more and more intelligence ever since.
For instance, we all hate it when the autocorrect tool writes in a word we didn't intend. But in the most recent update to its iOS software back in June, Apple unveiled an updated autocorrect that will learn from conversations to incorporate context and slang, improving both autocorrect and auto-fill on iMessage.
Other updates included Airpods getting more intelligent, with the ability to sense when you're having a conversation and automatically lower volume, as well as other adaptive and personalized volume settings. And iPhoto can now identify your favorite people in your photo album, distinguishing your dog from all other dogs, for instance. Overall, you may have noticed your iPhone becoming more intuitive to your needs over the past few months. That's no accident.
But Apple is also building large language models (LLMs) in the vein of ChatGPT. The Information recently reported Apple has developed an internal LLM that's even more powerful than the current ChatGPT 3.5, called Ajax, but that it's currently only for internal use. However, it's not a stretch to think Apple will soon be using LLMs for customer support or other corporate functions to make its business more productive in the near future. And a visual intelligence model is also reportedly in the works, given Apple's extensive businesses having to do with audiovisual arts.
With as many financial resources as any company and a corporate ethos to always use technology within a superior user experience with a high ethical bar, Apple stands to benefit from AI advancements as much as any other major tech company.
Amazon's triple-layered AI approach
Anders Bylund (Amazon): The AI opportunity is structured in three layers.
First, there's the specialized hardware that runs everything -- systems built around AI-specific microchips. Then, there's the back-end software that analyzes various types of data to draw useful conclusions. Finally, you have the consumer-facing (or business-boosting) platform that creates a user-friendly experience based on the middle layer's machine learning and advanced chatbots.
Each one of these three layers will support massive business operations for years to come. And here's the fun part: Amazon is an important provider of products and services across all three layers.
The consumer exposure is obvious. The hot-off-the-press updates to Amazon's Fire TV and Echo product lines highlighted a next-generation upgrade of the underlying Alexa software's AI capabilities. The company promised its customers access to "the world's best personal AI" -- a third-layer title often associated with ChatGPT.
In the middle layer, you'll find the Amazon Web Services (AWS) cloud-computing platform, which gives app developers easy access to many AI engines. The Amazon Bedrock service in AWS delivers "large language models as a service," including a homespun LLM called Titan. The GPT system that powers ChatGPT is not included, but Amazon's well-rounded list of specialized LLM models is arguably comparable to the leading LLM.
Going down to the first layer of bare-metal hardware, AWS offers cloud-based virtual machines with the usual range of AI accelerator hardware -- but that's not the whole story. Some AWS instances feature Amazon's own AWS Trainium, Inferentia, and Graviton processors. You might not think of Amazon as a chip-making leader, but its chips come with competitive performance at an affordable price point.
Amazon's leaders realize that most of the consumer-facing AI experience will come from other companies, with Alexa playing a minor role. But that's OK, because the company aims for a leading role across the first two AI layers.
Here's how CEO Andy Jassy explained his AI vision on the third-quarter earnings call:
What we're doing is democratizing access to generative AI, lowering the cost of training and running models, enabling access to large language model of choice instead of there only being one option. We're making it simpler for companies of all sizes and technical acumen to customize their own large language model and build generative AI applications in a secure and enterprise-grade fashion. These are all part of making generative AI accessible to everybody, and very much what AWS has been doing for technology infrastructure over the last 17 years.
So if you're looking for a long-term winner in the AI space, Amazon is your best bet among Warren Buffett's 54 current investments. In fact, I'm not sure you'll find a stronger AI stock anywhere. And the stock isn't even expensive, trading at a modest 2.7 times trailing sales. Amazon is a no-brainer AI investment in my eyes.
10 stocks we like better than Berkshire Hathaway
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Berkshire Hathaway wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of September 18, 2023
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Anders Bylund has positions in Amazon.com. Billy Duberstein has positions in Amazon.com, Apple, and Berkshire Hathaway. His clients may own shares of the companies mentioned. Nicholas Rossolillo has positions in Amazon.com, Apple, and Berkshire Hathaway. The Motley Fool has positions in and recommends Amazon.com, Apple, and Berkshire Hathaway. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Read on to see why our AI panelists suggest e-commerce veteran Amazon.com (NASDAQ: AMZN), comsumer electronics giant Apple (NASDAQ: AAPL), or Buffett's own company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). After all, Berkshire's subsidiary businesses are dominated by "old and stuffy" industries such as manufacturing (Precision Castparts, for one), insurance (GEICO), transportation (BNSF Railroad), and utilities (PacifiCorp). The hot-off-the-press updates to Amazon's Fire TV and Echo product lines highlighted a next-generation upgrade of the underlying Alexa software's AI capabilities.
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Read on to see why our AI panelists suggest e-commerce veteran Amazon.com (NASDAQ: AMZN), comsumer electronics giant Apple (NASDAQ: AAPL), or Buffett's own company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). The Information recently reported Apple has developed an internal LLM that's even more powerful than the current ChatGPT 3.5, called Ajax, but that it's currently only for internal use. The Amazon Bedrock service in AWS delivers "large language models as a service," including a homespun LLM called Titan.
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Read on to see why our AI panelists suggest e-commerce veteran Amazon.com (NASDAQ: AMZN), comsumer electronics giant Apple (NASDAQ: AAPL), or Buffett's own company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). Nicholas Rossolillo (Berkshire Hathaway): Sure, Berkshire Hathaway is invested in a couple of tech stocks such as Apple and Amazon that could log exceptional growth from AI. As more AI is adopted in software systems, this could provide a profit boost to Berkshire Hathaway -- which I'm sure the Berkshire team would be more than happy to turn around and reinvest by repurchasing more stock, or adding some other businesses into the portfolio.
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Read on to see why our AI panelists suggest e-commerce veteran Amazon.com (NASDAQ: AMZN), comsumer electronics giant Apple (NASDAQ: AAPL), or Buffett's own company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). But its brand, its design chops, and its ability to incorporate technology in a way that's intuitive for consumers has enabled Apple to lead both of those markets. But as one of only a handful of large companies that can afford the enormous expense involved in building AI tools, Apple hasn't fallen behind.
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13485.0
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2023-09-24 00:00:00 UTC
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Prediction: Here's How Much Apple Will Be Worth in 2030
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AAPL
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https://www.nasdaq.com/articles/prediction%3A-heres-how-much-apple-will-be-worth-in-2030
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The bigger, the better. If that old adage is true, Apple (NASDAQ: AAPL) should be the best stock on the planet. It's definitely the biggest, with a staggering market cap of over $2.7 trillion.
But doesn't the bigger a company becomes also make it harder to keep growing? In some ways, it does. However, I think that Apple will nonetheless continue to increase in size for years to come. Here's my prediction for how much the tech giant will be worth in 2030.
Apple's growth drivers
Let's first look at exactly how Apple can grow over the next seven years. There are several ways, with some of them more important than others.
The obvious path for Apple to grow is to increase its iPhone sales. Nearly 1.5 billion people use iPhones worldwide. There's plenty of room for growth, though: Apple'sglobal marketshare in the smartphone market is under 28%.
One key way to attract new users is innovation. Some changes that could boost iPhone sales don't even require Apple to be all that innovative. For example, it could follow on the heels of competitors such as Google, Samsung and Motorola by introducing a foldable display. However, Apple could also gain market share by offering even faster processors and longer battery life.
The company's biggest growth driver in recent years has been its services business. I expect this trend to continue throughout the rest of the decade and beyond. In particular, Apple should be able to increase its advertising sales. A long-rumored hardware subscription service could also serve as a major growth catalyst.
What about totally new products? Apple plans to launch its Vision Pro mixed-reality headset in early 2024. CEO Tim Cook called the introduction of the device "the beginning of a new era for computing."
Some believe that Apple's "next star product" could be a self-driving electric car. This could be something of a long shot. However, if Apple can really wow customers it's not out of the question that the company could make a splash in the market.
My prediction
Apple stock has delivered a return of more than 6x over the last seven years. It more than quadrupled during the seven-year period prior to that. I don't anticipate that kind of growth by 2030.
I do expect that iPhone's market share will increase over the next few years. I also look for Apple to introduce a hardware subscription service that helps make that happen (along with boosting its revenue).
The more iPhones in use, the more Apple will make on other services too. App Store, Apple Music, Apple Pay, and iCloud revenue should grow.
I'm less confident about the impact of Apple's new products. My hunch is that the high cost of the first version of Vision Pro could limit its financial impact. But if Apple can get the price tag down with later versions (or attract lots of customers through a subscription service), mixed-reality headsets could provide a nice bump to the company's overall growth. As for the rumored Apple Car, I'd prefer to wait and see what happens.
Overall, I think that Apple will be able to grow its earnings by somewhere between 7% and 10% on average per year. Its market cap should more or less mirror that growth. Based on this, I predict that Apple will be worth between $4.3 trillion and $5.3 trillion by 2030. The midpoint of this range is $4.8 trillion, which seems to me to be a fairly good estimate.
What could get in the way
One potential fly in the ointment with my prediction is that Apple's valuation is already somewhat high with shares trading at a forward earnings multiple of 26.4x. With significant growth already baked into the share price, Apple could deliver a weaker performance than what I expect in the coming years.
While I think Apple will continue to win in the marketplace, it's also possible that competitors could out-innovate the company. A wild card that dents iPhone's market share would definitely derail my prediction.
An extended economic downturn would throw a major wrench into my forecast as well. Apple's share price tends to fall even harder than the overall market does during major sell-offs.
Still, I believe that Apple could easily hit my target market cap of $4.8 trillion by 2030. Whether or not it will -- and if it will be enough for the company to remain the biggest in the world -- remains to be seen.
Find out why Apple is one of the 10 best stocks to buy now
Our analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed their ten top stock picks for investors to buy right now. Apple is on the list -- but there are nine others you may be overlooking.
Click here to get access to the full list!
*Stock Advisor returns as of September 18, 2023
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keith Speights has positions in Alphabet and Apple. The Motley Fool has positions in and recommends Alphabet and Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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If that old adage is true, Apple (NASDAQ: AAPL) should be the best stock on the planet. But if Apple can get the price tag down with later versions (or attract lots of customers through a subscription service), mixed-reality headsets could provide a nice bump to the company's overall growth. What could get in the way One potential fly in the ointment with my prediction is that Apple's valuation is already somewhat high with shares trading at a forward earnings multiple of 26.4x.
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If that old adage is true, Apple (NASDAQ: AAPL) should be the best stock on the planet. Apple plans to launch its Vision Pro mixed-reality headset in early 2024. But if Apple can get the price tag down with later versions (or attract lots of customers through a subscription service), mixed-reality headsets could provide a nice bump to the company's overall growth.
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If that old adage is true, Apple (NASDAQ: AAPL) should be the best stock on the planet. Apple's growth drivers Let's first look at exactly how Apple can grow over the next seven years. App Store, Apple Music, Apple Pay, and iCloud revenue should grow.
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If that old adage is true, Apple (NASDAQ: AAPL) should be the best stock on the planet. But doesn't the bigger a company becomes also make it harder to keep growing? My prediction Apple stock has delivered a return of more than 6x over the last seven years.
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13486.0
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2023-09-24 00:00:00 UTC
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3 Chip Stocks Crushing the Market With More Room to Run
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https://www.nasdaq.com/articles/3-chip-stocks-crushing-the-market-with-more-room-to-run
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The semiconductor field evolves rapidly, requiring yearly product upgrades. It’s a complex, costly and vital industry, particularly in the AI and Web 3.0 era, offering growth and security opportunities for top-performing companies. Accordingly, the top chip stocks to buy now continue to outperform, as barriers to entry amplify these market share advantages.
In this article, I will discuss three of the chip stocks to buy now that are crushing the market and still have plenty of room to run.
Nvidia (NVDA)
Source: Poetra.RH / Shutterstock.com
Nvidia (NASDAQ:NVDA) plays a vital role in the AI-driven computing shift, leveraging GPUs for accelerated computing. This has driven rapid revenue growth and a 190% year-to-date stock price increase.
Nvidia, once famous for its GPUs, now leads digital innovation in multiple sectors. The company has posted impressive financial results with quarterly sales hitting $13.5 billion, a remarkable 101.5% annual growth rate. Nvidia’s IV spectrum shows complexity: lower end activity for protection, surges from $500 to $980 signal optimism. Additionally, a number of large trades for high-upside call bets have been placed by institutional giants. Analysts are bullish, with an average target of $636.32 (45% upside). A bolder view targets $1,100 (150.57% potential gain), for those who believe these smart money investors are right.
Notably, Nvidia is a company that’s not only beating expectations on the top-line, but also by 63 cents per share in profits. Additionally, Nvidia’s Omniverse platform stands out, going beyond a typical metaverse platform.
For those thinking long-term, there are plenty of growth catalysts to support additional upside with Nvidia from here, making it a great option in chip stocks to buy now.
Advanced Micro Devices (AMD)
Source: JHVEPhoto / Shutterstock.com
While Nvidia gets attention, Advanced Micro Devices (NASDAQ:AMD) is making strides in AI chips with its Instinct MI300X GPUs. AMD has secured substantial supply chain commitments, and customer interest in its AI offerings surged, with a seven-fold increase in AI cluster engagements last quarter.
PC demand might rise during the holiday season, but significant growth isn’t expected until the 2025 replacement cycle. AMD is a long-term hold, a key rival to Nvidia in AI data center GPUs, with Intel lagging. AMD is also expanding into embedded computing for IoT devices.
Despite August’s inflation concerns, AMD is rebounding with a 4% gain since September 11, 2023. Its Mipsology acquisition enhances AI capabilities and partnerships for automotive safety, using AMD’s system-on-a-chip, offering long-term growth potential.
Intel Corp (INTC)
Source: JHVEPhoto / Shutterstock.com
Intel’s (NASDAQ:INTC) growth strategy emphasizes AI as a “superpower” across diverse applications, aiming to lead in the expanding AI market. The company’s bold strategy is paying off and it’s on track to regain chip manufacturing leadership by releasing the advanced Intel 18A process node ahead of schedule, attracting significant interest from a mystery customer, possibly Apple (NASDAQ:AAPL) or Arm Holdings (NASDAQ:ARM).
Intel’s AI chips, competitively priced and in high demand, could challenge Nvidia’s offerings, potentially leading to substantial revenue and profits. It anticipates benefiting from the growing demand for PCs optimized for AI applications. They are expanding manufacturing capacity with investments in facilities in Germany and a new assembly and test facility in Poland.
Moreover, Intel’s IDM 2.0 strategy involves investments to strengthen its semiconductor position and foundry business. Intel Foundry Services (IFS) enhances its role in the AI market, diversifying the global supply chain with leading-edge capacity beyond Asia.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.
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The post 3 Chip Stocks Crushing the Market With More Room to Run appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company’s bold strategy is paying off and it’s on track to regain chip manufacturing leadership by releasing the advanced Intel 18A process node ahead of schedule, attracting significant interest from a mystery customer, possibly Apple (NASDAQ:AAPL) or Arm Holdings (NASDAQ:ARM). For those thinking long-term, there are plenty of growth catalysts to support additional upside with Nvidia from here, making it a great option in chip stocks to buy now. Intel Foundry Services (IFS) enhances its role in the AI market, diversifying the global supply chain with leading-edge capacity beyond Asia.
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The company’s bold strategy is paying off and it’s on track to regain chip manufacturing leadership by releasing the advanced Intel 18A process node ahead of schedule, attracting significant interest from a mystery customer, possibly Apple (NASDAQ:AAPL) or Arm Holdings (NASDAQ:ARM). Advanced Micro Devices (AMD) Source: JHVEPhoto / Shutterstock.com While Nvidia gets attention, Advanced Micro Devices (NASDAQ:AMD) is making strides in AI chips with its Instinct MI300X GPUs. AMD has secured substantial supply chain commitments, and customer interest in its AI offerings surged, with a seven-fold increase in AI cluster engagements last quarter.
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The company’s bold strategy is paying off and it’s on track to regain chip manufacturing leadership by releasing the advanced Intel 18A process node ahead of schedule, attracting significant interest from a mystery customer, possibly Apple (NASDAQ:AAPL) or Arm Holdings (NASDAQ:ARM). Advanced Micro Devices (AMD) Source: JHVEPhoto / Shutterstock.com While Nvidia gets attention, Advanced Micro Devices (NASDAQ:AMD) is making strides in AI chips with its Instinct MI300X GPUs. Intel Corp (INTC) Source: JHVEPhoto / Shutterstock.com Intel’s (NASDAQ:INTC) growth strategy emphasizes AI as a “superpower” across diverse applications, aiming to lead in the expanding AI market.
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The company’s bold strategy is paying off and it’s on track to regain chip manufacturing leadership by releasing the advanced Intel 18A process node ahead of schedule, attracting significant interest from a mystery customer, possibly Apple (NASDAQ:AAPL) or Arm Holdings (NASDAQ:ARM). Advanced Micro Devices (AMD) Source: JHVEPhoto / Shutterstock.com While Nvidia gets attention, Advanced Micro Devices (NASDAQ:AMD) is making strides in AI chips with its Instinct MI300X GPUs. Intel Corp (INTC) Source: JHVEPhoto / Shutterstock.com Intel’s (NASDAQ:INTC) growth strategy emphasizes AI as a “superpower” across diverse applications, aiming to lead in the expanding AI market.
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13487.0
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2023-09-23 00:00:00 UTC
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2 Warren Buffett Stocks to Hold Forever
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https://www.nasdaq.com/articles/2-warren-buffett-stocks-to-hold-forever-1
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Warren Buffett is one of the most successful investors of all time, and his holding company, Berkshire Hathaway, has achieved a market capitalization of $808 billion, putting it eighth on the list of the world's most valuable companies. Buffett's success has made him a key figure on Wall Street, with countless people following his investment philosophy.
Lessons like the importance of a long-term mindset and investing in companies producing quality products -- strategies Buffett swears by -- can make a significant difference in your returns. Alongside useful investing tips, Berkshire Hathaway's portfolio is an excellent place to find inspiration. It is filled with companies that dominate high-growth industries and have long histories of providing stockholders with consistent gains.
Below are two Buffett stocks you can hold forever.
1. Apple
Apple (NASDAQ: AAPL) makes up 46% of Berkshire Hathaway's portfolio. For reference, Berkshire's second-largest holding is Bank of America, with an 8% share.
Apple ticks a lot of boxes in Buffett's investing approach. It produces quality products that have built up immense brand loyalty with consumers. The company has leading market shares in multiple categories and offers attractive profit margins. In fiscal 2022, gross margins for products hit a record 36%, with services achieving 72%.
Apple is a behemoth in tech, and its biggest success has been in the consumer product market. iPhone loyalty has become a powerful tool, with the company's interconnected ecosystem of products and exclusive apps like Messages encouraging users to stick with it for the long haul.
In April, Buffett touched on this by saying, "If someone offered you $10,000 to never buy an iPhone again, you wouldn't take it." The sentiment rings true for millions of consumers who would sooner give up countless other brands before using a different smartphone.
Since Berkshire first invested in the iPhone maker in 2016, Apple's shares have soared 581%. And its best move has been to make regular investments in the tech company. It most recently increased its stake by buying more than 20 million shares in the first quarter of 2023.
Apple has stumbled this year amid macroeconomic headwinds. However, its dominance in consumer tech and growing ventures in markets like artificial intelligence (AI) and virtual/augmented reality make it an excellent stock to hold indefinitely.
2. Amazon
Amazon (NASDAQ: AMZN) accounts for 0.4% of Berkshire Hathway's holdings, but that equals 10.5 million shares, about a 0.1% stake in the company. This is another business that has a strong command of the consumer market and is making inroads in multiple high-growth industries.
Berkshire first bought the stock in the first quarter of 2019, with shares rising 83% since then. An economic downturn last year brought steep declines in its share price after a reduction in consumer spending, but a solid recovery in 2023 proves Amazon is a reliable stock worth a long-term investment.
In fiscal 2022, the company's e-commerce segments reported combined operating losses of $10.6 billion. It reacted quickly, implementing changes such as ending multiple unprofitable projects, closing or canceling construction on dozens of warehouses, and laying off thousands of workers.
The moves are gradually paying off, with the North American segment returning to profitability in the first quarter of 2023 and hitting over $3 billion in operating income in the second.
As the e-commerce operation recovers, Amazon is further strengthening its business by expanding into artificial intelligence (AI). The company is home to the world's largest cloud platform, Amazon Web Services (AWS), with clients such as Sony, Netflix, and Meta Platforms.
Its position in the cloud market gives it an edge in AI as more businesses seek to boost productivity with the technology. As a result, AWS has introduced several new AI services this year and plans to soon venture into chip development.
Amazon, one of the world's most recognizable brands, has become the go-to for online shoppers everywhere, and along with a lucrative cloud business, its stock is an attractive option to hold forever.
Find out why Apple is one of the 10 best stocks to buy now
Our analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed their ten top stock picks for investors to buy right now. Apple is on the list -- but there are nine others you may be overlooking.
Click here to get access to the full list!
*Stock Advisor returns as of September 18, 2023
Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Dani Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon.com, Apple, Berkshire Hathaway, Meta Platforms, Netflix, and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Apple (NASDAQ: AAPL) makes up 46% of Berkshire Hathaway's portfolio. Lessons like the importance of a long-term mindset and investing in companies producing quality products -- strategies Buffett swears by -- can make a significant difference in your returns. iPhone loyalty has become a powerful tool, with the company's interconnected ecosystem of products and exclusive apps like Messages encouraging users to stick with it for the long haul.
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Apple Apple (NASDAQ: AAPL) makes up 46% of Berkshire Hathaway's portfolio. However, its dominance in consumer tech and growing ventures in markets like artificial intelligence (AI) and virtual/augmented reality make it an excellent stock to hold indefinitely. *Stock Advisor returns as of September 18, 2023 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors.
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Apple Apple (NASDAQ: AAPL) makes up 46% of Berkshire Hathaway's portfolio. Warren Buffett is one of the most successful investors of all time, and his holding company, Berkshire Hathaway, has achieved a market capitalization of $808 billion, putting it eighth on the list of the world's most valuable companies. Amazon Amazon (NASDAQ: AMZN) accounts for 0.4% of Berkshire Hathway's holdings, but that equals 10.5 million shares, about a 0.1% stake in the company.
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Apple Apple (NASDAQ: AAPL) makes up 46% of Berkshire Hathaway's portfolio. It produces quality products that have built up immense brand loyalty with consumers. The Motley Fool has positions in and recommends Amazon.com, Apple, Berkshire Hathaway, Meta Platforms, Netflix, and Nvidia.
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13488.0
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2023-09-23 00:00:00 UTC
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India to delay import licensing of laptops after US, industry push back-sources
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AAPL
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https://www.nasdaq.com/articles/india-to-delay-import-licensing-of-laptops-after-us-industry-push-back-sources
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By Munsif Vengattil and Shivangi Acharya
NEW DELHI, Sept 23 (Reuters) - India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple AAPL.O, Samsung 005930.KS and others.
The plan will be delayed by a year, after which the government will consider whether to implement a licensing regime or not, one of the officials told Reuters, requesting anonymity.
The licensing regime, announced abruptly on Aug. 3, aimed to "ensure trusted hardware and systems" enter India, reduce dependence on imports, boost local manufacturing and in part address the country's trade imbalance with China.
But following industry objections, the initial plan was quickly delayed by about three months.
Last month U.S. trade chief Katherine Tai raised concerns with India over the move, which would also affect companies such as Dell DELL.N and HP HPE.N.
India's electronics ministry is now proposing a simpler import registration process that is due to start in November, said the officials, who have direct knowledge of the discussions.
A representative for India's IT ministry did not immediately respond to a request for comment.
The new 'imports management system' will need companies to obtain 'registration certificates' for imports of laptops, tablets and personal computers, instead of licences proposed earlier by the Aug.3 order, one of the officials said.
The ministry conveyed the proposal to industry officials in a meeting on Friday, they added.
India's electronics imports, including laptops, tablets and personal computers, stood at $19.7 billion in the April to June period, up 6.25% year-on-year.
(Reporting by Munsif Vengattil and Shivangi Acharya in New Delhi; Editing by William Mallard and Clelia Oziel)
((Sarita.ChagantiSingh@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Munsif Vengattil and Shivangi Acharya NEW DELHI, Sept 23 (Reuters) - India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple AAPL.O, Samsung 005930.KS and others. The licensing regime, announced abruptly on Aug. 3, aimed to "ensure trusted hardware and systems" enter India, reduce dependence on imports, boost local manufacturing and in part address the country's trade imbalance with China. India's electronics ministry is now proposing a simpler import registration process that is due to start in November, said the officials, who have direct knowledge of the discussions.
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By Munsif Vengattil and Shivangi Acharya NEW DELHI, Sept 23 (Reuters) - India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple AAPL.O, Samsung 005930.KS and others. The new 'imports management system' will need companies to obtain 'registration certificates' for imports of laptops, tablets and personal computers, instead of licences proposed earlier by the Aug.3 order, one of the officials said. India's electronics imports, including laptops, tablets and personal computers, stood at $19.7 billion in the April to June period, up 6.25% year-on-year.
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By Munsif Vengattil and Shivangi Acharya NEW DELHI, Sept 23 (Reuters) - India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple AAPL.O, Samsung 005930.KS and others. India's electronics ministry is now proposing a simpler import registration process that is due to start in November, said the officials, who have direct knowledge of the discussions. The new 'imports management system' will need companies to obtain 'registration certificates' for imports of laptops, tablets and personal computers, instead of licences proposed earlier by the Aug.3 order, one of the officials said.
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By Munsif Vengattil and Shivangi Acharya NEW DELHI, Sept 23 (Reuters) - India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple AAPL.O, Samsung 005930.KS and others. The plan will be delayed by a year, after which the government will consider whether to implement a licensing regime or not, one of the officials told Reuters, requesting anonymity. The new 'imports management system' will need companies to obtain 'registration certificates' for imports of laptops, tablets and personal computers, instead of licences proposed earlier by the Aug.3 order, one of the officials said.
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13489.0
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2023-09-23 00:00:00 UTC
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Tim Cook and Apple Are Running Circles Around Mark Zuckerberg's Metaverse Vision
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AAPL
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https://www.nasdaq.com/articles/tim-cook-and-apple-are-running-circles-around-mark-zuckerbergs-metaverse-vision
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nan
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nan
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Meta (NASDAQ: META) has spent tens of billions of dollars building out virtual reality and metaverse technology, but Apple (NASDAQ: AAPL) is already commercializing products that are easy to use and reach millions more customers than Meta. In this video, Travis Hoium covers why Apple and Tim Cook are running circles around Mark Zuckerberg's Meta.
*Stock prices used were end-of-day prices of Sept. 15, 2023. The video was published on Sept. 18, 2023.
Find out why Apple is one of the 10 best stocks to buy now
Our analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed their ten top stock picks for investors to buy right now. Apple is on the list -- but there are nine others you may be overlooking.
Click here to get access to the full list!
*Stock Advisor returns as of September 18, 2023
Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Apple. The Motley Fool has positions in and recommends Apple and Meta Platforms. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Meta (NASDAQ: META) has spent tens of billions of dollars building out virtual reality and metaverse technology, but Apple (NASDAQ: AAPL) is already commercializing products that are easy to use and reach millions more customers than Meta. In this video, Travis Hoium covers why Apple and Tim Cook are running circles around Mark Zuckerberg's Meta. Find out why Apple is one of the 10 best stocks to buy now Our analyst team has spent more than a decade beating the market.
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Meta (NASDAQ: META) has spent tens of billions of dollars building out virtual reality and metaverse technology, but Apple (NASDAQ: AAPL) is already commercializing products that are easy to use and reach millions more customers than Meta. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. The Motley Fool has positions in and recommends Apple and Meta Platforms.
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Meta (NASDAQ: META) has spent tens of billions of dollars building out virtual reality and metaverse technology, but Apple (NASDAQ: AAPL) is already commercializing products that are easy to use and reach millions more customers than Meta. *Stock Advisor returns as of September 18, 2023 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. The Motley Fool has positions in and recommends Apple and Meta Platforms.
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Meta (NASDAQ: META) has spent tens of billions of dollars building out virtual reality and metaverse technology, but Apple (NASDAQ: AAPL) is already commercializing products that are easy to use and reach millions more customers than Meta. In this video, Travis Hoium covers why Apple and Tim Cook are running circles around Mark Zuckerberg's Meta. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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13490.0
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2023-09-22 00:00:00 UTC
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Amazon (AMZN) Bolsters Echo Portfolio With New Devices
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AAPL
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https://www.nasdaq.com/articles/amazon-amzn-bolsters-echo-portfolio-with-new-devices
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nan
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nan
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Amazon AMZN has expanded its family of Echo devices by introducing Echo Show 8, Echo Hub and Echo Frames, which are expected to deliver customized, proactive and intuitive Alexa experiences.
Notably, the Echo Show 8 has been upgraded with a 13-megapixel camera, improved audio pipeline, faster processor and built-in smart home hub, offering minimized background noise, enhanced audio, video calls, and room adaptation technology.
Meanwhile, Echo Hub, the Alexa-enabled wall-mountable smart home control panel, boasts features like a customizable dashboard, a thin eight-inch display, and adaptive content using infrared technology to detect nearby users, enabling easy management of devices.
Further, the next-generation Echo Frames feature five styles, improved battery life and enhanced speech processing technology, allowing hands-free use of Alexa, music and smart home devices.
Additionally, Amazon partnered with Safilo, a leading eyewear manufacturer, to combine Alexa's capabilities with iconic Carrera designs, providing seamless integration into customers' daily lives.
We mark the latest move as Amazon’s effort to expand its smart home devices portfolio.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Growth Prospects
Apart from the latest launch, Amazon recently added four other devices to its Echo portfolio, namely Echo Pop, Show 5, Show 5 Kids and Echo Buds, to bolster its Echo lineup. These launches give customers more choices in how they access Alexa.
Further, Amazon infused generative AI into the Fire TV ecosystem, to enable voice search, personalized recommendations and personalized content search based on specific preferences.
These endeavors are likely to strengthen the company’s presence in the booming smart home devices market.
Per a Future Market Insights report, the global smart home device market is expected to reach $300 billion by 2033, witnessing a CAGR of 17.8% during the period of 2023-2033.
We believe Amazon’s growing prospects in the promising smart home devices markets will likely aid its overall financial performance. This, in turn, is expected to instill investor optimism in the stock.
For third-quarter 2023, Amazon expects net sales between $138 billion and $143 billion. Net sales are expected to grow 9-13% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for net sales is pegged at $141.89 billion, suggesting year-over-year growth of 11.6%.
Notably, AMZN’s shares have gained 54% in the year-to-date period compared with the industry’s growth of 33.2%.
Stiff Competition
We note that the expanding smart home devices portfolio will continue to aid Amazon to compete well with some notable industry players like Apple AAPL and Alphabet GOOGL, which are also making concerted efforts to gain a solid footing in the smart home market space.
Notably, Apple’s HomePod (2nd generation), a powerful smart speaker with advanced computational audio and Siri intelligence, offers immersive Spatial Audio tracks, allows users to manage tasks, create automation, and check room temperature and humidity hands-free.
Further, Apple has recently released new HomePod 17 software for HomePod and HomePod mini, enabling AirPlay sessions via Siri on iOS 17 or iPadOS 17, facilitating music streaming.
Meanwhile, Alphabet has announced that Google’s smart home controller app, Google Home, will be available to everyone, with upgraded features including a new Favorites tab, improved camera interface, support for new device types, and iPhone integration for Matter devices.
Additionally, Google has announced that users can transfer their oldest Nest smart security cameras to Google Home, provided they sign up for the preview program of the Google Home app.
Zacks Rank & Another Key Pick
Currently, Amazon sports a Zacks Rank #1 (Strong Buy).
Another top-ranked stock in the broader retail-wholesale sector is BJ’s Restaurants BJRI. BJRI currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
BJ’s Restaurants has lost 7.7% in the year-to-date period. The long-term earnings growth rate for BJRI is currently estimated at 15%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
BJ's Restaurants, Inc. (BJRI) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stiff Competition We note that the expanding smart home devices portfolio will continue to aid Amazon to compete well with some notable industry players like Apple AAPL and Alphabet GOOGL, which are also making concerted efforts to gain a solid footing in the smart home market space. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report BJ's Restaurants, Inc. (BJRI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Meanwhile, Echo Hub, the Alexa-enabled wall-mountable smart home control panel, boasts features like a customizable dashboard, a thin eight-inch display, and adaptive content using infrared technology to detect nearby users, enabling easy management of devices.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report BJ's Restaurants, Inc. (BJRI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Stiff Competition We note that the expanding smart home devices portfolio will continue to aid Amazon to compete well with some notable industry players like Apple AAPL and Alphabet GOOGL, which are also making concerted efforts to gain a solid footing in the smart home market space. Amazon AMZN has expanded its family of Echo devices by introducing Echo Show 8, Echo Hub and Echo Frames, which are expected to deliver customized, proactive and intuitive Alexa experiences.
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Stiff Competition We note that the expanding smart home devices portfolio will continue to aid Amazon to compete well with some notable industry players like Apple AAPL and Alphabet GOOGL, which are also making concerted efforts to gain a solid footing in the smart home market space. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report BJ's Restaurants, Inc. (BJRI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Amazon AMZN has expanded its family of Echo devices by introducing Echo Show 8, Echo Hub and Echo Frames, which are expected to deliver customized, proactive and intuitive Alexa experiences.
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Stiff Competition We note that the expanding smart home devices portfolio will continue to aid Amazon to compete well with some notable industry players like Apple AAPL and Alphabet GOOGL, which are also making concerted efforts to gain a solid footing in the smart home market space. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report BJ's Restaurants, Inc. (BJRI) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Amazon AMZN has expanded its family of Echo devices by introducing Echo Show 8, Echo Hub and Echo Frames, which are expected to deliver customized, proactive and intuitive Alexa experiences.
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13491.0
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2023-09-22 00:00:00 UTC
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US STOCKS-Wall St rebounds as Treasury yields retreat from 16-year highs; Ford rises
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-rebounds-as-treasury-yields-retreat-from-16-year-highs-ford-rises
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nan
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nan
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By Ankika Biswas and Shristi Achar A
Sept 22 (Reuters) - Wall Street's main indexes bounced back on Friday as U.S. Treasury yields retreated from 16-year highs, while shares of Ford jumped to a one-week high on news of progress in labor talks with the United Auto Workers (UAW) union.
Ford F.N advanced 2.5%, helping the consumer discretionary sector .SPLRCD gain 0.4%.
The UAW said it will expand its strikes against General Motors GM.N and Chrysler parent Stellantis STLAM.MI. GM shares were down 0.2%.
The two-year and 10-year Treasury yields US2YT=RR, US10YT=RR pulled back from their 2006 and 2007 highs hit on Thursday, driving a rebound in some growth stocks. Apple AAPL.O, Amazon.com AMZN.O, Nvidia NVDA.O and Tesla TSLA.O were up between 1.4% and 2.1%.
Despite the slight recovery, the benchmark S&P 500 .SPX was on track for its worst week since March and the tech-heavy Nasdaq .IXIC since August after the U.S. central bank delivered a hawkish pause on Wednesday, sparking worries over another interest rate hike in 2023 and prospects of a delay in policy easing.
"People are trying to catch their breath ... but lot of headwinds facing this market," said Brandon Pizzurro, director of public investments at GuideStone Capital Management. "I'm not sure this uptrend can sustain."
Having fallen through several support levels during the recent selloff, Truist Advisory Services' Chief Market Strategist Keith Lerner expects the S&P 500 to face a key support at 4,200 points.
At 12:08 p.m. ET, the S&P 500 .SPX was up 15.69 points, or 0.36%, at 4,345.69, the Dow Jones Industrial Average .DJI was up 22.32 points, or 0.07%, at 34,092.74, and the Nasdaq Composite .IXIC was up 94.56 points, or 0.72%, at 13,318.55.
Data on Friday revealed U.S. business activity showed little change in September, with the vast services sector essentially idling at the slowest pace since February.
U.S. central bank policymakers, including policy voting member Minneapolis Fed President Neel Kashkari, are set to speak during the day.
So far, Fed Boston President Susan Collins and Fed Governor Michelle Bowman stressed the need for further rate hikes to tackle still-high inflation.
Traders' bets on the benchmark rate remaining unchanged in November and December stood at 73% and 58%, respectively, according to CME's FedWatch tool.
Communication services .SPLRCL and energy stocks .SPNY were the top S&P 500 sector index gainers, while utilities sector .SPLRCU was the worst hit.
Activision Blizzard ATVI.O added 1.7% after Britain's antitrust regulator said the restructured $69 billion acquisition of the company by Microsoft MSFT.O"opens the door" to the biggest-ever gaming deal being cleared.
U.S.-listed shares of Chinese firms including PDD Holdings PDD.O, JD.com JD.O, Li Auto LI.O and Baidu BIDU.O rose between 2.3% and 3.8% on hopes of a rebound in economic growth, while Alibaba BABA.N gained 4.7% on a report that the company's logistics arm Cainiao was planning to file for a Hong Kong IPO as soon as next week.
WayfairW.N rose 1.6% after Bernstein upgraded the online furniture retailer to "market perform" from "underperform".
Advancing issues outnumbered decliners for a 1.63-to-1 ratio on the NYSE and a 1.17-to-1 ratio on the Nasdaq.
The S&P index recorded one new 52-week high and 32 new lows, while the Nasdaq recorded 21 new highs and 217 new lows.
(Reporting by Ankika Biswas and Shristi Achar A in Bengaluru; Editing by Anil D'Silva, Vinay Dwivedi and Shounak Dasgupta)
((Ankika.Biswas@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple AAPL.O, Amazon.com AMZN.O, Nvidia NVDA.O and Tesla TSLA.O were up between 1.4% and 2.1%. Despite the slight recovery, the benchmark S&P 500 .SPX was on track for its worst week since March and the tech-heavy Nasdaq .IXIC since August after the U.S. central bank delivered a hawkish pause on Wednesday, sparking worries over another interest rate hike in 2023 and prospects of a delay in policy easing. Activision Blizzard ATVI.O added 1.7% after Britain's antitrust regulator said the restructured $69 billion acquisition of the company by Microsoft MSFT.O"opens the door" to the biggest-ever gaming deal being cleared.
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Apple AAPL.O, Amazon.com AMZN.O, Nvidia NVDA.O and Tesla TSLA.O were up between 1.4% and 2.1%. By Ankika Biswas and Shristi Achar A Sept 22 (Reuters) - Wall Street's main indexes bounced back on Friday as U.S. Treasury yields retreated from 16-year highs, while shares of Ford jumped to a one-week high on news of progress in labor talks with the United Auto Workers (UAW) union. U.S. central bank policymakers, including policy voting member Minneapolis Fed President Neel Kashkari, are set to speak during the day.
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Apple AAPL.O, Amazon.com AMZN.O, Nvidia NVDA.O and Tesla TSLA.O were up between 1.4% and 2.1%. By Ankika Biswas and Shristi Achar A Sept 22 (Reuters) - Wall Street's main indexes bounced back on Friday as U.S. Treasury yields retreated from 16-year highs, while shares of Ford jumped to a one-week high on news of progress in labor talks with the United Auto Workers (UAW) union. Despite the slight recovery, the benchmark S&P 500 .SPX was on track for its worst week since March and the tech-heavy Nasdaq .IXIC since August after the U.S. central bank delivered a hawkish pause on Wednesday, sparking worries over another interest rate hike in 2023 and prospects of a delay in policy easing.
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Apple AAPL.O, Amazon.com AMZN.O, Nvidia NVDA.O and Tesla TSLA.O were up between 1.4% and 2.1%. By Ankika Biswas and Shristi Achar A Sept 22 (Reuters) - Wall Street's main indexes bounced back on Friday as U.S. Treasury yields retreated from 16-year highs, while shares of Ford jumped to a one-week high on news of progress in labor talks with the United Auto Workers (UAW) union. U.S. central bank policymakers, including policy voting member Minneapolis Fed President Neel Kashkari, are set to speak during the day.
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13492.0
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2023-09-22 00:00:00 UTC
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Apple workers in France stage strike on iPhone 15 launch day
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AAPL
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https://www.nasdaq.com/articles/apple-workers-in-france-stage-strike-on-iphone-15-launch-day
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nan
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nan
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By Manuel Ausloos and Louise Dalmasso
PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15.
It is the latest headache for the tech giant in France after it was forced to stop selling its iPhone 12 model earlier this month for above-threshold radiation. Apple disputes the findings of the French watchdog.
About 30 staff were picketing outside the company's store in Opera in central Paris, one of three in the French capital, a few metres away from a line of about 40 customers waiting in the rain to enter the shop.
"We are still the people who make Apple's wealth, and therefore I think that we deserve a little more honorable treatment than what we are given today," said Anais Durel, a 36-year old who has worked for Apple for 10 years.
Apple declined to comment.
Apple unions including CGT, Unsa, CFDT and Cidre-CFTC, which also plan to strike on Saturday, have asked for a 7% wage increase to compensate for inflation, and an end to a months-long hiring freeze. Management did not want to offer more than a 4.5% hike, union officials said.
"Inflation is still quite nasty. There are a lot of employees who are experiencing difficulties," said Tarek, a CGT union leader who declined to give his last name.
"The goal is not at all to block sales of the iPhone, the goal is really to bring awareness to this situation," he added.
Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting.
About 20 workers will set up an information picket outside the store on Paseo de Gracia in central Barcelona at midday, Pablo Paredes, leader of the CNT Apple union, told Reuters.
Paredes said the workers aim to highlight poor working conditions including contracts which do not compensate them for working at weekends or at night.
CNT is a minority union and only active in one of Barcelona's two stores. The union has not yet managed to secure a meeting with the company to lodge its complaints, Paredes said.
"We have been talking since August to our colleagues on strike in France. In Spain, unlike them, not all the unions have agreed to strike," Paredes said.
(Reporting by Manuel Ausloos, Louise Dalmasso and Abdul Saboor in Paris, Horaci Garcia in Barcelona, Corina Pons in Madrid; Additional reporting by Charlottte Van Campenhout; Writing by Charlie Devereux; Editing by Sharon Singleton)
((Charlie.Devereux@thomsonreuters.com; (34) 683-307-706;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Manuel Ausloos and Louise Dalmasso PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. Apple unions including CGT, Unsa, CFDT and Cidre-CFTC, which also plan to strike on Saturday, have asked for a 7% wage increase to compensate for inflation, and an end to a months-long hiring freeze. About 20 workers will set up an information picket outside the store on Paseo de Gracia in central Barcelona at midday, Pablo Paredes, leader of the CNT Apple union, told Reuters.
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By Manuel Ausloos and Louise Dalmasso PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting. About 20 workers will set up an information picket outside the store on Paseo de Gracia in central Barcelona at midday, Pablo Paredes, leader of the CNT Apple union, told Reuters.
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By Manuel Ausloos and Louise Dalmasso PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting. About 20 workers will set up an information picket outside the store on Paseo de Gracia in central Barcelona at midday, Pablo Paredes, leader of the CNT Apple union, told Reuters.
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By Manuel Ausloos and Louise Dalmasso PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting. The union has not yet managed to secure a meeting with the company to lodge its complaints, Paredes said.
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13493.0
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2023-09-22 00:00:00 UTC
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Lower Bond Yields Spark Mild Recovery in Stocks
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AAPL
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https://www.nasdaq.com/articles/lower-bond-yields-spark-mild-recovery-in-stocks
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nan
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nan
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What you need to know…
The S&P 500 Index ($SPX) (SPY) today is up +0.43%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.88%.
Stocks this morning are moderately higher, recovering from some of the significant sell-off seen earlier this week. Today's decline in bond yields prompted some short covering in stocks as the 10-year T-note yield fell back from a 16-year high of 4.506% posted in overnight trade.
The U.S. Sep S&P manufacturing PMI rose +1.0 to 48.9, stronger than expectations of 48.2.
Fed comments today were on the hawkish side and negative for stocks. Fed Governor Bowman said, "I continue to expect that further rate hikes will likely be needed to return inflation to 2% in a timely way." Also, Boston Fed President Collins said, "I expect rates may have to stay higher, and for longer, than previous projections had suggested, and further tightening is certainly not off the table."
Bank of America said investors are fleeing stocks on the prospects of higher interest rates for longer as EPFR Global data show global equity funds had outflows of $16.9 billion in the week through September 20, the fastest pace in 9 months.
The markets are discounting a 23% chance that the FOMC will raise the funds rate by +25 bp at the next FOMC meeting that ends on November 1, and a 50% chance for that +25 bp rate hike at the following meeting that ends on December 13. The markets are then expecting the FOMC to begin cutting rates in Q3 of 2024 in response to an expected slowdown in the U.S. economy.
U.S. and European bond yields today are mixed. The 10-year T-note yield fell back from a 16-year high of 4.506% and is down -5.6 bp at 4.438%. The 10-year German bund yield is up +0.2 bp at 2.738%. The 10-year UK gilt yield is down -4.9 bp at 4.255%.
Overseas stock markets are mixed today. The Euro Stoxx 50 is down -0.06%. China’s Shanghai Composite Index closed +1.55%. Japan’s Nikkei 225 today closed -0.52%.
Today’s stock movers…
Western Digital (WDC) is up more than +4% to lead gainers in the S&P 500 after Bloomberg News reported the company is looking to merge with Japan-based Kioxia.
Meta Platforms (META) is up more than +2% after Citigroup rated the stock a buy and opened a 90-day upside catalyst watch for the stock ahead of the Meta Connect 2023 event next week, where the company will announce details around its generative AI plans.
Chip stocks are moving higher as they recover slightly from this week’s sharp losses. ON Semiconductor (ON) is up more than +2%. Also, Nvidia (NVDA), ASML Holding NV (ASML), Applied Materials (AMAT), Broadcom (AVGO), Lam Research (LRCX), KLA Corp (KLAC), NXP Semiconductors NV (NXPI), Marvel Technology (MRVL), and Micron Technology (MU) are up more than +1%.
Apple (AAPL) is up more than +1% to lead gainers in the Dow Jones Industrials after its latest iPhones and watches went on sale.
Ford Motor (F) is up more than +3% after Reuters reported the UAW has made real progress with the company over a new labor contract.
Seagen (SGEN) is up more than +3% to lead gainers in the Nasdaq 100 after a study showed its Padcev drug improved survival in bladder cancer patients when combined with Merk’s Keytruda.
Constellation Brands (STZ) is up more than +1% after Goldman Sachs raised its price target on the stock to $305 from $275.
Activision Blizzard (ATVI) is up more than +1% on signs that Microsoft’s $69 billion acquisition of the company is set to move forward after the UK competition authorities said they would accept Microsoft’s latest concessions.
Charter Communications (CHTR) is up more than +1% after Wells Fargo Securities upgraded the stock to overweight from equal weight with a price target of $550.
Wayfair (W) is up more than +1% after Bernstein upgraded the stock to market perform from underperform.
Tyson Foods (TSN) is down more than -2% after HSBC initiated coverage on the stock with a recommendation of reduce and a price target of $49.
Deere & Co (DE) is down more than -1% after Canaccord Genuity downgraded the stock to hold from buy.
General Mills (GIS) is down more than -1% as analysts have cut their price targets on the stock by an average of 12% since the company reported quarterly earnings results on Wednesday.
Dollar General (DG) is down more than -1% after HSBC initiated coverage of the stock with a recommendation of reduce and a price target of $102.
Scholastic (SCHL) is down more than -11% after reporting a Q1 adjusted loss per share of -$2.20 versus a loss of -$1.33 y/y.
Vertex Pharmaceuticals (VRTX) is down more than -1% on signs of insider selling after an SEC filing showed company CMO Bozic sold $1.98 million of shares on Tuesday.
Across the markets…
December 10-year T-notes (ZNZ23) today are up +11 ticks, and the 10-year T-note yield is down -5.6 bp at 4.438%. T-notes are moderately higher today on some short-covering following this week’s sharp sell-off to a 16-year low. Gains are limited by the stronger-than-expected S&P manufacturing PMI report. Also, hawkish Fed comments weighed on T-notes when Boston Fed President Collins said, "I expect rates may have to stay higher, and for longer, than previous projections had suggested,” and after Fed Governor Bowman said, "I continue to expect that further rate hikes will likely be needed to return inflation to 2%.”
The dollar index (DXY00) today is up by +0.06% and posted a new 6-1/2 month high. The dollar has carryover support from Wednesday when the Fed signaled one more +25 bp rate hike this year and projected the fed funds rate next year +50 bp higher than they projected back in June. Also, today’s stronger-than-expected U.S. S&P manufacturing PMI report was supportive of the dollar. Gains in stocks today are limiting the upside in the dollar on reduced liquidity demand.
EUR/USD (^EURUSD) today is down -0.03% and posted a new 6-month low. The euro moved lower today after the Eurozone Sep S&P manufacturing PMI unexpectedly declined and after ECB Chief Economist Lane said the Eurozone economy this year will be "fairly muted." The euro recovered from its worst levels on hawkish comments from ECB Governing Council member De Cos, who said, "It is certainly too early to talk about rate cuts at the moment."
The Eurozone Sep S&P manufacturing PMI unexpectedly fell -0.1 to 43.4, weaker than expectations of an increase to 44.0. However, the Sep S&P composite PMI rose +0.4 to 47.1, stronger than expectations of a decline to 46.5.
ECB Governing Council member De Cos said, "The growth outlook for the Eurozone has been revised downwards, and the risks are on the downside." However, "it is certainly too early to talk about rate cuts at the moment."
ECB Chief Economist Lane said the Eurozone economy this year will be "fairly muted."
USD/JPY (^USDJPY) is up +0.26%. The yen today is moderately lower and just above Thursday’s 10-1/2 month low against the dollar. The yen weakened after the BOJ maintained record-low interest rates after today’s policy meeting, and BOJ Governor Ueda said the distance from being able to adjust the negative rate hasn't changed much. Another bearish factor for the yen was today’s news that the Japan Sep Jibun Bank manufacturing PMI contracted at the steepest pace in 7 months. Losses in the yen are contained after the 10-year JGB bond yield rose to a 10-year high of 0.756% and as T-note yields declined.
The BOJ, as expected, voted 9-0 to keep the policy balance rate unchanged at -0.1% and to maintain the 10-year JGB yield target at about 0%.
BOJ Governor Ueda said the distance from being able to adjust the negative rate hasn't changed much, and if the BOJ's inflation goal is in sight, we will mull ending yield curve control and an interest rate shift.
Japan Aug national CPI eased to +3.2% y/y from +3.3% y/y in July, stronger than expectations of +3.0% y/y. Aug national CPI ex-fresh food and energy was unchanged from July at +4.3% y/y, right on expectations.
The Japan Sep Jibun Bank manufacturing PMI fell -1.0 to 48.6, the steepest pace of contraction in 7 months.
October gold (GCV3) today is up +7.6 (+0.40%), and Dec silver (SIZ23) is up +0.288 (+1.22%). Precious metals prices today are moderately higher, with silver posting a 2-week high. Lower T-note yields today are supportive for precious metals. Silver also garnered support from today’s stronger-than-expected U.S. S&P manufacturing PMI report, which was a positive factor for industrial metals demand.
Gains in metals are limited with today’s rally in the dollar index to a 6-1/2 month high. Also, hawkish central bank comments are bearish for precious metals after Boston Fed President Collins said, "I expect rates may have to stay higher, and for longer, than previous projections had suggested,” and after ECB Governing Council member De Cos said, "it is certainly too early to talk about rate cuts at the moment." Finally, gold is being weighed down by long liquidation pressures after long gold holdings in ETFs fell to a 3-1/2 year low on Thursday.
More Stock Market News from Barchart
Is Tesla Stock Overvalued? Here's What Experts Are Saying
Alarm Bells Ringing: Why JPM Stock Options Are a Must-Watch for Every Investor
Starbucks Stock: Scoop Up this Oversold Bargain for Pumpkin Spice Latte Season
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) is up more than +1% to lead gainers in the Dow Jones Industrials after its latest iPhones and watches went on sale. Seagen (SGEN) is up more than +3% to lead gainers in the Nasdaq 100 after a study showed its Padcev drug improved survival in bladder cancer patients when combined with Merk’s Keytruda. Vertex Pharmaceuticals (VRTX) is down more than -1% on signs of insider selling after an SEC filing showed company CMO Bozic sold $1.98 million of shares on Tuesday.
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Apple (AAPL) is up more than +1% to lead gainers in the Dow Jones Industrials after its latest iPhones and watches went on sale. Also, hawkish Fed comments weighed on T-notes when Boston Fed President Collins said, "I expect rates may have to stay higher, and for longer, than previous projections had suggested,” and after Fed Governor Bowman said, "I continue to expect that further rate hikes will likely be needed to return inflation to 2%.” The dollar index (DXY00) today is up by +0.06% and posted a new 6-1/2 month high. The euro moved lower today after the Eurozone Sep S&P manufacturing PMI unexpectedly declined and after ECB Chief Economist Lane said the Eurozone economy this year will be "fairly muted."
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Apple (AAPL) is up more than +1% to lead gainers in the Dow Jones Industrials after its latest iPhones and watches went on sale. Also, hawkish Fed comments weighed on T-notes when Boston Fed President Collins said, "I expect rates may have to stay higher, and for longer, than previous projections had suggested,” and after Fed Governor Bowman said, "I continue to expect that further rate hikes will likely be needed to return inflation to 2%.” The dollar index (DXY00) today is up by +0.06% and posted a new 6-1/2 month high. The dollar has carryover support from Wednesday when the Fed signaled one more +25 bp rate hike this year and projected the fed funds rate next year +50 bp higher than they projected back in June.
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Apple (AAPL) is up more than +1% to lead gainers in the Dow Jones Industrials after its latest iPhones and watches went on sale. Also, hawkish Fed comments weighed on T-notes when Boston Fed President Collins said, "I expect rates may have to stay higher, and for longer, than previous projections had suggested,” and after Fed Governor Bowman said, "I continue to expect that further rate hikes will likely be needed to return inflation to 2%.” The dollar index (DXY00) today is up by +0.06% and posted a new 6-1/2 month high. Another bearish factor for the yen was today’s news that the Japan Sep Jibun Bank manufacturing PMI contracted at the steepest pace in 7 months.
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13494.0
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2023-09-22 00:00:00 UTC
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Is Tesla Stock Overvalued? Here's What Experts Are Saying
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AAPL
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https://www.nasdaq.com/articles/is-tesla-stock-overvalued-heres-what-experts-are-saying
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nan
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nan
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Tesla’s (TSLA) valuation - or what some would call “gross overvaluation” - has always been a sore point between bulls and bears. The Elon Musk-run company’s current market cap is $811.59 billion - which, for context, is over three times that of Toyota Motors (TM), the second-biggest automaker by market cap.
At its peak in 2021, Tesla was valued at more than $1.2 trillion, and even the combined market cap of the world’s biggest automakers couldn't approach that level. Incidentally, never in history has an automaker’s market cap surpassed $1 trillion.
Tesla Stock Forecast
It's not unusual for analysts to have differing opinions about a particular stock, but the kind of dispersion that we see in Tesla’s target price is quite high. For instance, TSLA’s Street-high target price of $400 is over four times the Street-low target price of $85. Its mean target price of $250.32 represents a modest discount to its current market price, and the stock has a consensus rating of Hold from analysts.
Of the 26 analysts covering Tesla, 7 rate it as a Strong Buy, while 2 call it a Moderate Buy. Fourteen analysts rate it as a Hold, while the remaining 3 have a Strong Sell rating.
www.barchart.com
The divergence in analysts’ opinions can be attributed to how they perceive the company. Bears primarily value Tesla as an automaker, and end up assigning low target prices. However, bulls view Tesla as a tech company, and believe it should trade at higher multiples relative compared to legacy automakers.
Also, those who are bullish on Tesla stock believe that profits from the tech business – which includes autonomous driving – will drive the company's future earnings. Earlier this month, Morgan Stanley analyst Adam Jonas, a long-standing Tesla stock bull, created quite a furor when he said that the company’s Dojo supercomputer could add $600 billion to Tesla’s market cap. However, details about the project - which will aid autonomous driving - are scant, and Jonas had to issue an update to justify his bullish call.
Cathie Wood on TSLA
Cathie Wood – arguably the biggest Tesla stock bull – believes that the company is an AI play, and sees the stock rising to $1,400 by 2027 in the bear case and $2,000 in the bull case.
Her optimism revolves around Tesla’s autonomous driving business, which she believes accounts for two-thirds of the company’s value. Specifically, ARK Invest believes that Tesla could generate revenues of around $200 billion from robotaxis by 2027.
Musk Believes Tesla Can be the Biggest Company
Wood's views are in sync with Musk, who believes that Tesla's valuation is linked to its autonomous driving business. Musk argues that Tesla can be the biggest company globally, and during the company’s Q3 2022 earnings call, he said Tesla can be worth more than the combined value of Apple (AAPL) and Saudi Aramco. He did admit that it would be “difficult” and “will require a lot of work, some very creative new products, manage expansion, and always luck.”
Ashwath Damodaran Says Tesla Stock is Worth $130
Ashwath Damodaran, Professor of Finance at the Stern School of Business at New York University - who's earned himself the title of the “dean of valuation” - valued Tesla stock at $130 per share in January.
According to Damodaran, Tesla cannot sustain high margins as it ramps up deliveries. Notably, Musk believes Tesla’s production capacity will rise to 20 million units by 2030 - and even though the billionaire tends to be flamboyant at times, it's worth pointing out this targeted capacity would be twice the annual sales of Toyota, which is the world’s largest automaker by shipments.
Tesla’s recent price cuts, which have sparked an industry-wide price war, are a testimony to the fact that maintaining high margins might not be easy for Tesla. The company’s operating margins are already down to single digits, even if they are still among the highest in the industry.
www.barchart.com
Valuing Tesla Stock: Look Beyond the Automotive Business
Musk has countered the margin erosion due to price cuts, having said that Tesla can sell cars without making any profits and later make up by selling autonomous technology. The company is also open to licensing its autonomous driving technology to other automakers, and has already started sharing its sprawling network of Superchargers with peers like Ford (F), General Motors (GM), and Rivian (RIVN). These automakers will also transition to Tesla’s North American Charging Standard (NACS), thereby making it the de facto industry standard in the U.S.
Meanwhile, no matter how bears may view the company, there is a wide army of Tesla (and Musk) fans who are in love with TSLA, and buy any dip in the stock. Tesla bears have had a tough time since 2019, as the stock has risen exponentially since then, and bearish analysts have had few options but to gradually raise the stock’s target price.
www.barchart.com
Is Tesla Stock Overvalued?
Even Damodaran admitted in his note that “I have been wrong, and sometimes hopelessly so, in some of my earlier valuations of Tesla.” He also acknowledged that software forms “an integral part of a Tesla automobile.”
In my view, Tesla is much more than an auto company, and is a play on multiple themes - like renewable energy and autonomous driving. Musk has big plans for Tesla’s energy business, and believes its revenues will rise in the coming years.
I believe that whether Tesla is overvalued or not will eventually depend on the software side of the business – including the full autonomy of Tesla cars. In reality, though, Tesla’s full driving (FSD) is not yet as “fully autonomous” as the name suggests. For the last several years, including in 2023, Musk has promised full autonomy “by the end of the year” - but the FSD remains far from fully autonomous.
On the valuation side, the company might see structural margin erosion over the next few quarters as it faces the tough choice between increasing shipments and maintaining margins – and so far, it has opted for the former, as it strives to grow deliveries at the CAGR of 50% that Musk has touted multiple times.
Even in autonomous driving, it remains to be seen how Tesla’s technology will stack up against that of other companies like Waymo and Cruise, which are respectively backed by Alphabet (GOOG) and General Motors.
Overall, I believe that Tesla stock looks overvalued at these levels, especially as consumers get spoiled for choice amid the widening list of EV options. However, I will always be wary of shorting the stock, as its price movement can often be at odds with the company's fundamentals.
On the date of publication, Mohit Oberoi had a position in: RIVN , F , GM , AAPL , GOOG . All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Musk argues that Tesla can be the biggest company globally, and during the company’s Q3 2022 earnings call, he said Tesla can be worth more than the combined value of Apple (AAPL) and Saudi Aramco. On the date of publication, Mohit Oberoi had a position in: RIVN , F , GM , AAPL , GOOG . The company is also open to licensing its autonomous driving technology to other automakers, and has already started sharing its sprawling network of Superchargers with peers like Ford (F), General Motors (GM), and Rivian (RIVN).
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Musk argues that Tesla can be the biggest company globally, and during the company’s Q3 2022 earnings call, he said Tesla can be worth more than the combined value of Apple (AAPL) and Saudi Aramco. On the date of publication, Mohit Oberoi had a position in: RIVN , F , GM , AAPL , GOOG . Also, those who are bullish on Tesla stock believe that profits from the tech business – which includes autonomous driving – will drive the company's future earnings.
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Musk argues that Tesla can be the biggest company globally, and during the company’s Q3 2022 earnings call, he said Tesla can be worth more than the combined value of Apple (AAPL) and Saudi Aramco. On the date of publication, Mohit Oberoi had a position in: RIVN , F , GM , AAPL , GOOG . Tesla Stock Forecast It's not unusual for analysts to have differing opinions about a particular stock, but the kind of dispersion that we see in Tesla’s target price is quite high.
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Musk argues that Tesla can be the biggest company globally, and during the company’s Q3 2022 earnings call, he said Tesla can be worth more than the combined value of Apple (AAPL) and Saudi Aramco. On the date of publication, Mohit Oberoi had a position in: RIVN , F , GM , AAPL , GOOG . Its mean target price of $250.32 represents a modest discount to its current market price, and the stock has a consensus rating of Hold from analysts.
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13495.0
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2023-09-22 00:00:00 UTC
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Apple workers in France stage strike over work conditions on iPhone 15 launch day
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AAPL
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https://www.nasdaq.com/articles/apple-workers-in-france-stage-strike-over-work-conditions-on-iphone-15-launch-day
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By Manuel Ausloos and Louise Dalmasso
PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15.
It is the latest headache for the tech giant in France after it was forced to stop selling its iPhone 12 model earlier this month for above-threshold radiation. Apple disputes the findings of the French watchdog.
About 30 staff were picketing outside the company's store in Opera in central Paris, one of three in the French capital, a few metres away from a line of about 40 customers waiting in the rain to enter the shop.
"We are still the people who make Apple's wealth, and therefore I think that we deserve a little more honorable treatment than what we are given today," said Anais Durel, a 36-year old who has worked for Apple for 10 years.
Apple unions including CGT, Unsa, CFDT and Cidre-CFTC, which also plan to strike on Saturday, have asked for a 7% wage increase to compensate for inflation, and an end to a months-long hiring freeze. Management did not want to offer more than a 4.5% hike, union officials said.
"Inflation is still quite nasty. There are a lot of employees who are experiencing difficulties," said Tarek, a CGT union leader who declined to give his last name.
"The goal is not at all to block sales of the iPhone, the goal is really to bring awareness to this situation," he added.
Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting against working conditions.
About 20 workers will set up an information picket outside the store on Paseo de Gracia in central Barcelona at midday, Pablo Paredes, leader of the CNT Apple union, told Reuters.
Paredes said the workers aim to highlight poor working conditions including contracts which do not compensate them for working at weekends or at night.
CNT is a minority union and only active in one of Barcelona's two stores. The union has not yet managed to secure a meeting with the company to lodge its complaints, Paredes said.
"We have been talking since August to our colleagues on strike in France. In Spain, unlike them, not all the unions have agreed to strike," Paredes said.
(Reporting by Manuel Ausloos, Louise Dalmasso and Abdul Saboor in Paris, Horaci Garcia in Barcelona, Corina Pons in Madrid; Additional reporting by Charlottte Van Campenhout; Writing by Charlie Devereux; Editing by Sharon Singleton)
((Charlie.Devereux@thomsonreuters.com; (34) 683-307-706;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Manuel Ausloos and Louise Dalmasso PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. Apple unions including CGT, Unsa, CFDT and Cidre-CFTC, which also plan to strike on Saturday, have asked for a 7% wage increase to compensate for inflation, and an end to a months-long hiring freeze. About 20 workers will set up an information picket outside the store on Paseo de Gracia in central Barcelona at midday, Pablo Paredes, leader of the CNT Apple union, told Reuters.
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By Manuel Ausloos and Louise Dalmasso PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting against working conditions. About 20 workers will set up an information picket outside the store on Paseo de Gracia in central Barcelona at midday, Pablo Paredes, leader of the CNT Apple union, told Reuters.
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By Manuel Ausloos and Louise Dalmasso PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting against working conditions. About 20 workers will set up an information picket outside the store on Paseo de Gracia in central Barcelona at midday, Pablo Paredes, leader of the CNT Apple union, told Reuters.
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By Manuel Ausloos and Louise Dalmasso PARIS, Sept 22 (Reuters) - Workers at Apple AAPL.O stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting against working conditions. The union has not yet managed to secure a meeting with the company to lodge its complaints, Paredes said.
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13496.0
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2023-09-22 00:00:00 UTC
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Stock Market News for Sep 22, 2023
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AAPL
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https://www.nasdaq.com/articles/stock-market-news-for-sep-22-2023
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nan
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nan
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Wall Street ended sharply lower on Thursday as Treasury yields surged to multi-year highs and investors grew worried that the Fed’s monetary tightening campaign could be in place for longer than expected following the FOMC meeting on Wednesday. All three major indexes ended in negative territory, with the S&P 500 and Nasdaq closing at their lowest since June.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) plummeted 1.1% or 370.46 points to close at 34,070.42 points. The blue-chip index recorded its lowest close since July 10.
The S&P 500 declined 1.6% or 72.20 points, to finish at 4,330 points, its lowest close since June 26. Real estate, materials and consumer discretionary stocks were the worst performers.
The Consumer Discretionary Select Sector SPDR (XLY) fell 2.7%. The Technology Select Sector SPDR (XLK) and the Materials Select Sector SPDR (XLB) declined 1.5% and 2%, respectively. The Real Estate Select Sector SPDR (XLRE) tumbled 3.5%. All 11 sectors of the benchmark index ended in negative territory.
The tech-heavy Nasdaq slipped 1.8% or 245.14 points to end at 13,223.98 points, posting its lowest close since June 7.
The fear-gauge CBOE Volatility Index (VIX) was up 15.85% to 17.54. A total of 10.76 billion shares were traded on Thursday, higher than the last 20-session average of 10.12 billion. Decliners outnumbered advancers on the NYSE by a 5.89-to-1 ratio. On the Nasdaq, a 2.80-to-1 ratio favored declining issues.
Investors Fear Recession, Treasury Yields Climb
Stocks tumbled for the third consecutive session on Thursday as fears of a potential recession grew following the Fed’s comments at the end of its two-day FOMC meeting on Wednesday. The Fed said that another rate hike of a quarter percentage would be required this year before it starts to cut rates in 2024.
However, the central bank also revised its forecast of four rate cuts to two next year, indicating that interest rates would remain high through 2024. This reignited fears that the economy could slip into a recession.
Moreover, higher interest rates could be problematic for high-growth assets like tech stocks. Treasury yields which had somewhat stabilized after hitting multi-year highs earlier this month soared once again on Thursday following the Fed’s outlook for future interest rate hikes.
The 10-year Treasury yield rose 4.494% before closing at 4.479%, jumping 13.3 basis points to hit its highest level since October 2007.
The 2-year Treasury yield climbed to 5.202%, reaching its highest level since 2006. Tech stocks suffered once again. Shares of NVIDIA Corporation (NVDA) declined 2.9%. Also, Tesla, Inc. (TSLA) and Apple, Inc. (AAPL) fell 0.9% and 2.5%, respectively. NVIDIA carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Economic Data
In other economic data released on Thursday, the Labor Department said that jobless claims totaled 201,000 for the week ending Sep 16, a decrease of 20,000 from the previous week’s unrevised revised level of 221,000. The four-week moving average was 217,000, a decrease of 7,750 from the previous week’s revised average of 224,750.
Continuing claims came in at 1,662,000, a decrease of 21,000 from the previous week’s revised level of 1,683,000. The 4-week moving average was 1,687,000 a decrease of 8,750 from the previous week's revised average of 1,695,750.
The National Association of Realtors said that existing home sales fell 0.7% in August to a seasonally adjusted annual level of 4.04 million. Year over year, sales declined 15.3% in August.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Tesla, Inc. (TSLA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Also, Tesla, Inc. (TSLA) and Apple, Inc. (AAPL) fell 0.9% and 2.5%, respectively. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here. Wall Street ended sharply lower on Thursday as Treasury yields surged to multi-year highs and investors grew worried that the Fed’s monetary tightening campaign could be in place for longer than expected following the FOMC meeting on Wednesday.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here. Also, Tesla, Inc. (TSLA) and Apple, Inc. (AAPL) fell 0.9% and 2.5%, respectively. The Technology Select Sector SPDR (XLK) and the Materials Select Sector SPDR (XLB) declined 1.5% and 2%, respectively.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here. Also, Tesla, Inc. (TSLA) and Apple, Inc. (AAPL) fell 0.9% and 2.5%, respectively. Investors Fear Recession, Treasury Yields Climb Stocks tumbled for the third consecutive session on Thursday as fears of a potential recession grew following the Fed’s comments at the end of its two-day FOMC meeting on Wednesday.
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Also, Tesla, Inc. (TSLA) and Apple, Inc. (AAPL) fell 0.9% and 2.5%, respectively. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here. All 11 sectors of the benchmark index ended in negative territory.
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13497.0
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2023-09-22 00:00:00 UTC
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3 Stocks Delivering $2.8 Billion in Dividends to Warren Buffett Each Year
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AAPL
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https://www.nasdaq.com/articles/3-stocks-delivering-%242.8-billion-in-dividends-to-warren-buffett-each-year
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Since becoming CEO of Berkshire Hathaway (NYSE:BRK-A NYSE:BRK-B) in 1965, Warren Buffett generated 3.7 million percent returns for investors. That’s a staggering statistic, considering the S&P 500 returned some 24.7 thousand percent. There is a good reason he’s referred to as the Oracle of Omaha. This has led to the rise of Warren Buffett dividend stocks to buy.
Yet a good part of Buffett’s success lies in his love of dividend stocks. Companies that pay dividends are often those that have stood the test of time. They are successful, profitable businesses that have gone through numerous cycles and come out ahead.
Of the 49 stocks in Buffett’s portfolio, 31 pay dividends. He will receive nearly $6 billion in dividends from those stocks in 2023.
But like a lot of Buffett’sinvestment advice it’s often a case of do as I say, not as I do. Because as much as Buffett loves dividends, he refuses to allow Berkshire Hathaway to pay any.
That doesn’t mean investors can’t still profit off of the dividends Buffett receives. They help juice the returns of Berkshire Hathaway, ultimately making it a good investment. But The Oracle will receive over $2.8 billion from just three companies, or 50% of all the dividends he collects. What follows are the top Warren Buffett dividend stocks Berkshire Hathaway owns.
Occidental Petroleum (OXY)
Source: T. Schneider / Shutterstock.com
Because Buffett only recently paused his shopping spree of Occidental Petroleum (NYSE:OXY) stock, he now owns more than 2.24 million shares of the oil and gas giant. That means Buffett’s ownership stake is 25%, and he has permission from the Securities & Exchange Commission to buy as much as 50%. His dividend payment ought to be around $961 million.
Yet Occidental’s dividend is $0.96 per share, so if you do the math, it looks like Buffett will only collect around $161 million in dividends from his shares. What many forget (or do not know) is that Berkshire Hathaway also bought $10 billion of preferred stock. Those shares yield 8% annually giving Buffett an additional $800 million in preferred dividends. However, Occidental did begin buying some of that stock back. Any redemptions Occidental makes require it to pay Berkshire any accrued and unpaid dividends. All in all, it’s one of those Warren Buffett dividend stocks to consider.
Buffett bought Occidental Petroleum because of its dominance in the Permian Basin. He said it was “a bet on the fact that the Permian Basin is what it is cracked up to be.” However, the U.S. Energy Information Administration recently reported that Permian was leading the way in new oil and gas production. It forecasts the region’s third straight month of production declines.
That’s partly due to the higher costs of drilling deep wells. Although deeper wells produce more oil per well, thus generating higher revenue, they are also more expensive to drill. It suggests the short and medium-depth wells oil companies are opting for will end up showing up on the income statement as reduced revenue. Profits might not be hurt too much, though, due to the cost savings.
Apple (AAPL)
Source: askarim / Shutterstock
Even though Apple (NASDAQ:AAPL) is Buffett’s favorite stock, comprising 46% of Berkshire Hathaway’s total portfolio, it’s not the top dividend-generating stock. Buffett owns over 915 million shares of the tech giant, but Apple’s dividend of $0.96 per share means he will collect just under $879 million worth of dividends this year.
Apple, of course, is the most valuable stock on the market. It is worth some $2.8 trillion dollars. Even if its shares were cut in half, it would still be one of the five most valuable companies. That’s because Apple remains the technological leader when it comes to products like the iPhone, Apple Watch, Mac, and other personal electronic gear.
It just revealed its new product lineup. Apple will be releasing the iPhone 15 that will sell for $799, some $50 cheaper than last year’s iPhone 14 (The Pro will cost $999). This comes as smartphone sales are expected to fall to their lowest level in the past decade. Shipments this year will hit 1.15 billion units, a 6% decline 6%, according to Counterpoint Research.
Apple continues to narrow the gap between it and Samsung inglobal marketshare. The iPhone now has a 17% share of the market, up from 14% last year, while Samsung’s share remained flat at 20%. With the iPhone 15’s release, that gap may narrow further. This make it one of those Warren Buffett dividend stocks you should keep on your watchlist.
Apple’s stock is off nearly 10% from its all-time highs. With a pricey valuation, shares could slip further if the new iPhone doesn’t catch on quickly. Apple manages to surprise naysayers, so keep an eye out for where they go.
Bank of America (BAC)
Source: FabrikaSimf / Shutterstock
Bank of America (NYSE:BAC) stock is faring even worse than Apple as a result of the financial crisis earlier this year. The seizure of Silicon Valley Bank, Signature Bank (OTCMKTS:SBNY), and others created a ripple effect of worry about the health of America’s banking system. It reached even to the biggest banks, such as Bank of America. Its stock tumbled 25% from its highs.
Buffett owns over one billion shares of the bank. He held on tight to the stock even as he shed the shares of other financial institutions.
The market shouldn’t be so worried. While rising interest rates increase the cost of liabilities and decrease the value of investment securities held as assets, they do give banks opportunities to increase earnings by pushing up rates charged on loans, increasing profits.
Moreover, the shaken consumer confidence in banks caused them to withdraw their money from smaller banks and put it into larger ones like Bank of America. It added 157,000 net new customers in the most recent quarter. It’s the 18th consecutive quarter of growth. Revenue of $10.5 billion was 15% higher than last year.
With Bank of America’s stock trading at just 90% of its book value, the stock is a bargain. It also pays a dividend of $0.96 per share yielding 3.4% annually. For Buffett’s one-billion-plus shares, he’s raking in a cool $991.5 billion in dividends. That makes Bank of America Berkshire Hathaway’s biggest dividend check of the year.
On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets.
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The post 3 Stocks Delivering $2.8 Billion in Dividends to Warren Buffett Each Year appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) Source: askarim / Shutterstock Even though Apple (NASDAQ:AAPL) is Buffett’s favorite stock, comprising 46% of Berkshire Hathaway’s total portfolio, it’s not the top dividend-generating stock. It suggests the short and medium-depth wells oil companies are opting for will end up showing up on the income statement as reduced revenue. On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
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Apple (AAPL) Source: askarim / Shutterstock Even though Apple (NASDAQ:AAPL) is Buffett’s favorite stock, comprising 46% of Berkshire Hathaway’s total portfolio, it’s not the top dividend-generating stock. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Since becoming CEO of Berkshire Hathaway (NYSE:BRK-A NYSE:BRK-B) in 1965, Warren Buffett generated 3.7 million percent returns for investors. What follows are the top Warren Buffett dividend stocks Berkshire Hathaway owns.
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Apple (AAPL) Source: askarim / Shutterstock Even though Apple (NASDAQ:AAPL) is Buffett’s favorite stock, comprising 46% of Berkshire Hathaway’s total portfolio, it’s not the top dividend-generating stock. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Since becoming CEO of Berkshire Hathaway (NYSE:BRK-A NYSE:BRK-B) in 1965, Warren Buffett generated 3.7 million percent returns for investors. Buffett owns over 915 million shares of the tech giant, but Apple’s dividend of $0.96 per share means he will collect just under $879 million worth of dividends this year.
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Apple (AAPL) Source: askarim / Shutterstock Even though Apple (NASDAQ:AAPL) is Buffett’s favorite stock, comprising 46% of Berkshire Hathaway’s total portfolio, it’s not the top dividend-generating stock. Yet Occidental’s dividend is $0.96 per share, so if you do the math, it looks like Buffett will only collect around $161 million in dividends from his shares. The iPhone now has a 17% share of the market, up from 14% last year, while Samsung’s share remained flat at 20%.
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13498.0
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2023-09-22 00:00:00 UTC
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Find Opportunities for Your Portfolio With High Dividend ETF FDVV
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AAPL
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https://www.nasdaq.com/articles/find-opportunities-for-your-portfolio-with-high-dividend-etf-fdvv
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nan
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nan
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Looking to potentially add some current income to your portfolio? With the U.S. economy facing growing headwinds, current income via dividends specifically can provide meaningful ballast to an overall investment portfolio. That said, with so many dividend strategies available, which funds stand out the most? Investors and advisors may want to consider the high dividend ETF FDVV specifically given how its approach has offered robust returns so far in 2023.
The Fidelity High Dividend ETF (FDVV) tracks large and mid-cap U.S. stocks that offer high dividends, though it can also allocate up to 10% of assets to international developed markets. The strategy does lean on U.S. equities, which has helped it perform given the documented success domestic equities have had compared to their international peers.
Its top sectors include finance at a 25.5% weight, electronic tech at 20%, and consumer non-durables at 12.2%, per VettaFi. FDVV holds about 100 or so component securities. While it does target developed markets overall, it has a 90% exposure to the U.S.
Those holdings don’t just provide current income to the high dividend ETF, which offers a 3.5% annual dividend yield. Based on their high dividends, they also stand out as intriguing investments on their own terms given how dividends often indicate a firm with a healthy outlook. Charging 29 basis points (bps), the high dividend ETF has operated since 2016. It holds tech names like Apple (AAPL) as well as long-term holdings like Coca-Cola (KO).
According to its prospectus, FDVV invests at least 80% of its assets in securities within its Fidelity High Dividend Index. Taken together, its characteristics and approach have helped it return a solid 12.2% YTD and 16% over the last three years.
Overall, FDVV has done well compared to its peer strategies. According to VettaFi data, it has outperformed both its ETF Database Category and Factset Segment Averages YTD. Specifically, it has outperformed the Vanguard High Dividend Yield Index ETF (VYM) by more than 10% YTD per VettaFi data, as well as over a three-year period. For investors seeking to add current income, FDVV may be one strategy to watch as the last quarter of 2023 begins in earnest.
Fidelity Investments® is an independent company, unaffiliated with VettaFi. There is no form of legal partnership, agency affiliation, or similar relationship between VettaFi and Fidelity Investments, nor is such a relationship created or implied by the information herein. Fidelity Investments has not been involved with the preparation of the content supplied by VettaFi and does not guarantee, or assume any responsibility for, its content.
For more news, information, and strategy, visit the ETF Investing Channel.
Read more on ETFTrends.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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It holds tech names like Apple (AAPL) as well as long-term holdings like Coca-Cola (KO). With the U.S. economy facing growing headwinds, current income via dividends specifically can provide meaningful ballast to an overall investment portfolio. Specifically, it has outperformed the Vanguard High Dividend Yield Index ETF (VYM) by more than 10% YTD per VettaFi data, as well as over a three-year period.
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It holds tech names like Apple (AAPL) as well as long-term holdings like Coca-Cola (KO). Investors and advisors may want to consider the high dividend ETF FDVV specifically given how its approach has offered robust returns so far in 2023. The Fidelity High Dividend ETF (FDVV) tracks large and mid-cap U.S. stocks that offer high dividends, though it can also allocate up to 10% of assets to international developed markets.
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It holds tech names like Apple (AAPL) as well as long-term holdings like Coca-Cola (KO). The Fidelity High Dividend ETF (FDVV) tracks large and mid-cap U.S. stocks that offer high dividends, though it can also allocate up to 10% of assets to international developed markets. While it does target developed markets overall, it has a 90% exposure to the U.S. Those holdings don’t just provide current income to the high dividend ETF, which offers a 3.5% annual dividend yield.
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It holds tech names like Apple (AAPL) as well as long-term holdings like Coca-Cola (KO). Investors and advisors may want to consider the high dividend ETF FDVV specifically given how its approach has offered robust returns so far in 2023. While it does target developed markets overall, it has a 90% exposure to the U.S. Those holdings don’t just provide current income to the high dividend ETF, which offers a 3.5% annual dividend yield.
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13499.0
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2023-09-22 00:00:00 UTC
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Technology Sector Update for 09/22/2023: ATVI, MSFT, SSYS, DM, AAPL, XLK, XSD
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AAPL
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https://www.nasdaq.com/articles/technology-sector-update-for-09-22-2023%3A-atvi-msft-ssys-dm-aapl-xlk-xsd
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nan
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nan
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Technology stocks were flat to higher premarket Friday as the Technology Select Sector SPDR Fund (XLK) was up 0.6% while the SPDR S&P Semiconductor ETF (XSD) was inactive.
The UK's Competition and Markets Authority said Microsoft's (MSFT) restructured deal to acquire Activision Blizzard (ATVI) "substantially addresses previous concerns" and opens the door for the deal to be cleared. Activision Blizzard was 2% higher pre-bell.
Donerail Group, an investor in Stratasys (SSYS), said Stratasys shareholders should follow the recommendation of proxy advisory firm Institutional Shareholder Services and vote against the proposed acquisition of Desktop Metal (DM). Stratasys was up more than 1% in premarket activity.
Workers at Apple (AAPL) stores in France began a nationwide strike on Friday over working conditions and salaries, Reuters reported. Apple was advancing 0.7% pre-bell.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Workers at Apple (AAPL) stores in France began a nationwide strike on Friday over working conditions and salaries, Reuters reported. The UK's Competition and Markets Authority said Microsoft's (MSFT) restructured deal to acquire Activision Blizzard (ATVI) "substantially addresses previous concerns" and opens the door for the deal to be cleared. Donerail Group, an investor in Stratasys (SSYS), said Stratasys shareholders should follow the recommendation of proxy advisory firm Institutional Shareholder Services and vote against the proposed acquisition of Desktop Metal (DM).
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Workers at Apple (AAPL) stores in France began a nationwide strike on Friday over working conditions and salaries, Reuters reported. Technology stocks were flat to higher premarket Friday as the Technology Select Sector SPDR Fund (XLK) was up 0.6% while the SPDR S&P Semiconductor ETF (XSD) was inactive. The UK's Competition and Markets Authority said Microsoft's (MSFT) restructured deal to acquire Activision Blizzard (ATVI) "substantially addresses previous concerns" and opens the door for the deal to be cleared.
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Workers at Apple (AAPL) stores in France began a nationwide strike on Friday over working conditions and salaries, Reuters reported. Technology stocks were flat to higher premarket Friday as the Technology Select Sector SPDR Fund (XLK) was up 0.6% while the SPDR S&P Semiconductor ETF (XSD) was inactive. The UK's Competition and Markets Authority said Microsoft's (MSFT) restructured deal to acquire Activision Blizzard (ATVI) "substantially addresses previous concerns" and opens the door for the deal to be cleared.
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Workers at Apple (AAPL) stores in France began a nationwide strike on Friday over working conditions and salaries, Reuters reported. Technology stocks were flat to higher premarket Friday as the Technology Select Sector SPDR Fund (XLK) was up 0.6% while the SPDR S&P Semiconductor ETF (XSD) was inactive. Activision Blizzard was 2% higher pre-bell.
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