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13700.0
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2023-09-13 00:00:00 UTC
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GLOBAL MARKETS-Asian shares slip, oil hold gains ahead of US inflation test
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AAPL
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https://www.nasdaq.com/articles/global-markets-asian-shares-slip-oil-hold-gains-ahead-of-us-inflation-test
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nan
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nan
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By Stella Qiu
SYDNEY, Sept 13 (Reuters) - Asian shares fell after Wall Street wobbled overnight with markets bracing for key U.S. inflation data on Wednesday, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook.
The euro was supported by a hawkish shift in expectations for the European Central Bank on Thursday, with bets now favouring a hike, after a Reuters report that the ECB expects inflation will stay above 3% next year in its updated forecasts.
Europe is set to open lower, with EUROSTOXX 50 futures STXEc1 falling 0.5%. Both S&P 500 futures ESc1 and Nasdaq futures NQc1 were mostly unchanged.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipped 0.3% while Tokyo's Nikkei .N225 eased 0.1%.
Chinese blue-chips .CSI300 dropped 0.7% on still-fragile sentiment about the outlook for the world's second largest economy. Hong Kong's Hang Seng index .HSI reversed earlier gains to be mostly flat.
At the forefront of markets' minds is the crucial U.S. Consumer Price Index (CPI) report expected on Wednesday, which should shed further light on the inflation outlook and provide some clarity about whether the Federal Reserve is done tightening.
While core CPI is seen cooling to 4.3% year-on-year in August from 4.7%, rising energy costs are forecast to keep headline inflation elevated at 3.6%. And the latest spike in oil prices to ten-month highs is unlikely to escape the Fed's attention.
"What's happening with oil and headline inflation is still too soon for the Fed to be signalling the all clear as far as the risks of some incremental tightening before they're done," said Ray Attrill, a currency strategist at National Australia Bank.
"When you have those sort of volatility in the food and energy components, the worry is that if it's persistent then it does tend to bleed into core inflation measures over time."
Oil prices extended gains on Wednesday. Brent crude futures LCOc1 settled 0.3 higher at $92.31 per barrel, nearing a ten-month peak that it hit a session ago, while U.S. West Texas Intermediate crude futures CLc1 were up 0.3% at $89.13. O/R
On Wall Street, the S&P 500 fell 0.6% overnight, the Nasdaq declined 1% while Dow Jones was mostly flat.
Apple AAPL.O dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets.
The euro EUR=EBS was supported at $1.0753, nearing one-week highs on the Reuters story, while markets moved to favour a rate hike from the ECB on Thursday with a 75% probability, compared with a split chance previously. 0#ECBWATCH
"The leak raises the possibility of a hawkish hike which would be much more supportive for the EUR," said Steve Englander, global head of G10 FX research at Standard Chartered, referring to the Reuters report.
"Our baseline view is that the ECB will signal a hawkish hold and be deterred by soft growth from further hikes... We think it is a close call."
The U.S. dollar recovered some of its recent losses against the yen, up 0.2% to 147.35 yen JPY=EBS after comments from Japan's top central banker on a possible early exit from its negative interest rate policy sent the Japanese currency soaring. FRX/
Treasury yields climbed on Wednesday, with the two-year note US2YT=RR touching 5.0263%, compared with a U.S. close of 5.005%. Ten-year yields US10YT=RR held at 4.2842%, up from the close of 4.264%.
Gold price XAU= was flat at $1,911.29 per ounce.
Asia stock markets https://tmsnrt.rs/2zpUAr4
Asia-Pacific valuations https://tmsnrt.rs/2Dr2BQA
(Reporting by Stella Qiu Editing by Shri Navaratnam)
((yifan.qiu@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 dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets. At the forefront of markets' minds is the crucial U.S. Consumer Price Index (CPI) report expected on Wednesday, which should shed further light on the inflation outlook and provide some clarity about whether the Federal Reserve is done tightening. The euro EUR=EBS was supported at $1.0753, nearing one-week highs on the Reuters story, while markets moved to favour a rate hike from the ECB on Thursday with a 75% probability, compared with a split chance previously.
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Apple AAPL.O dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets. By Stella Qiu SYDNEY, Sept 13 (Reuters) - Asian shares fell after Wall Street wobbled overnight with markets bracing for key U.S. inflation data on Wednesday, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook. The euro was supported by a hawkish shift in expectations for the European Central Bank on Thursday, with bets now favouring a hike, after a Reuters report that the ECB expects inflation will stay above 3% next year in its updated forecasts.
|
Apple AAPL.O dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets. By Stella Qiu SYDNEY, Sept 13 (Reuters) - Asian shares fell after Wall Street wobbled overnight with markets bracing for key U.S. inflation data on Wednesday, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook. The euro was supported by a hawkish shift in expectations for the European Central Bank on Thursday, with bets now favouring a hike, after a Reuters report that the ECB expects inflation will stay above 3% next year in its updated forecasts.
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Apple AAPL.O dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets. The euro was supported by a hawkish shift in expectations for the European Central Bank on Thursday, with bets now favouring a hike, after a Reuters report that the ECB expects inflation will stay above 3% next year in its updated forecasts. Both S&P 500 futures ESc1 and Nasdaq futures NQc1 were mostly unchanged.
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13701.0
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2023-09-13 00:00:00 UTC
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Apple Stock’s (NASDAQ:AAPL) Recent Dip: A Lovely Gift
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AAPL
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https://www.nasdaq.com/articles/apple-stocks-nasdaq%3Aaapl-recent-dip%3A-a-lovely-gift
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nan
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nan
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Apple (NASDAQ:AAPL) stock is currently out of favor. Undoubtedly, the latest "Wonderlust" event on September 14 failed to impress investors, as new Apple Watches (Series 9 and the Ultra 2) and the iPhone 15, along with its Pro and Pro Max models, were unveiled. The stock ultimately ended the day down 1.7% yesterday. Shares have declined over 10% from their highs, also driven by persistent concerns about the Chinese government's iPhone ban for state officials and employees. Still, I think dip buyers are getting a lovely gift.
Not only are Chinese iPhone ban concerns overblown, in my opinion, but there were many things to like from the "Wonderlust" event that may have flown under the radar of most tuning in. All things considered, I remain incredibly bullish on AAPL stock, as it's now the second-cheapest FAANG stock — behind Alphabet (NASDAQ:GOOGL) — from a trailing price-to-earnings (P/E) perspective.
After its recent tumble, Apple stock now has a 29.2 times trailing P/E multiple. For Apple's standards, that's still an elevated multiple. However, notable bullish analysts like Wedbush's Daniel Ives are looking beyond the recent slate of China headwinds to catalysts that could lift the share price over the coming year.
Chinese iPhone Ban Concerns Overblown, Perhaps Beyond Proportion
Apple stock crumbled more than 6% in just two days following news of Chinese iPhone bans. I believe that's an exaggerated decline, given that the ban is limited to officials and employees of the Chinese government. Still, investors certainly do love to catastrophize when it comes to Apple.
Though the ban could mark the first step of a broader ban, I don't think such a scenario is at all likely because of the key manufacturing role China plays with the iPhone. Indeed, more widespread bans on the device may be akin to cutting one's nose off to spite the face.
Daniel Ives recently went on CNBC, noting that the China ban would affect 500,000 devices at worst. Compared to the more than 225 million global shipments made last year, 500,000 is a drop in the bucket and one that shouldn't have paved the way for a two-day plunge of 6%. Morgan Stanley (NYSE:MS) seems to be in the same camp as Ives, who believes the China concerns are overblown.
Undoubtedly, Apple's top rival in China, Huawei, has a bold, new smartphone that could give the iPhone a run for its money. Indeed, the Chinese government wants people to use the new Huawei device. However, though the new Huawei may be packed with impressive new features, the iPhone still seems well ahead of the game. Had the latest Huawei phone really been that impressive, the Chinese government wouldn't have had to ban iPhones in the workplace for specific workers.
In short, the ban isn't as big a deal for Apple stock. The biggest losers from the prohibition may be the Chinese government workers who are being forced out of the Apple ecosystem. It's not easy to switch from an iPhone to another device. In fact, it's quite a hassle to move to a new ecosystem that's not nearly as nice as Apple's walled garden.
Some Overlooked Developments from Apple's "Underwhelming" Wonderlust Event
There wasn't too much that shocked and awed in the recent event. The latest iPhone didn't really see a breakthrough new feature that will cause us all to upgrade. Still, there were underlooked developments that could help Apple stock gain ground over the long run.
First, some major video game titles were announced to be coming to the iPhone, and they look great on the A17 Pro — Apple's newest chip. This lineup includes two additions from the Resident Evil series, as well as Death Stranding and Assassin's Creed Mirage. These high-budget, console-quality games have the potential to transform the iPhone into a formidable gaming device boasting advanced graphical features, such as ray tracing.
The graphical upgrade was remarkable, and if more console-quality games are in the pipeline, Apple may be making a sneak attack on the gaming world!
Second, the latest iPhone 15 Pro will allow users to capture "spatial videos" that can be enjoyed on the company's coming headset, Apple Vision Pro. The headset hasn't even launched yet, but it already looks like it'll integrate well alongside other Apple devices, including the iPhone.
Is AAPL Stock a Buy, According to Analysts?
On TipRanks, AAPL stock comes in as a Moderate Buy. Out of 30 analyst ratings, there are 22 Buys and eight Holds. The average Apple stock price target is $207.10, implying upside potential of 18.9%. Analyst price targets range from a low of $167.00 per share to a high of $240.00 per share.
The Bottom Line on Apple Stock
All told, the China ban worries and lackluster keynote reaction haven't caused me to give up on the stock. If anything, the September stumble may be a gift for long-term investors.
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) stock is currently out of favor. All things considered, I remain incredibly bullish on AAPL stock, as it's now the second-cheapest FAANG stock — behind Alphabet (NASDAQ:GOOGL) — from a trailing price-to-earnings (P/E) perspective. Is AAPL Stock a Buy, According to Analysts?
|
Apple (NASDAQ:AAPL) stock is currently out of favor. All things considered, I remain incredibly bullish on AAPL stock, as it's now the second-cheapest FAANG stock — behind Alphabet (NASDAQ:GOOGL) — from a trailing price-to-earnings (P/E) perspective. Is AAPL Stock a Buy, According to Analysts?
|
Apple (NASDAQ:AAPL) stock is currently out of favor. All things considered, I remain incredibly bullish on AAPL stock, as it's now the second-cheapest FAANG stock — behind Alphabet (NASDAQ:GOOGL) — from a trailing price-to-earnings (P/E) perspective. Is AAPL Stock a Buy, According to Analysts?
|
Apple (NASDAQ:AAPL) stock is currently out of favor. All things considered, I remain incredibly bullish on AAPL stock, as it's now the second-cheapest FAANG stock — behind Alphabet (NASDAQ:GOOGL) — from a trailing price-to-earnings (P/E) perspective. Is AAPL Stock a Buy, According to Analysts?
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13702.0
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2023-09-13 00:00:00 UTC
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Wedbush Maintains Apple (AAPL) Outperform Recommendation
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AAPL
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https://www.nasdaq.com/articles/wedbush-maintains-apple-aapl-outperform-recommendation
|
nan
|
nan
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Fintel reports that on September 13, 2023, Wedbush maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation.
Analyst Price Forecast Suggests 16.11% 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 16.11% from its latest reported closing price of 176.30.
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 6409 funds or institutions reporting positions in Apple. This is an increase of 24 owner(s) or 0.38% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. Total shares owned by institutions increased in the last three months by 0.28% to 9,941,728K shares.
The put/call ratio of AAPL is 0.87, 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 13, 2023, Wedbush maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
|
Fintel reports that on September 13, 2023, Wedbush maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
|
Fintel reports that on September 13, 2023, Wedbush maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
|
Fintel reports that on September 13, 2023, Wedbush maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
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13703.0
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2023-09-13 00:00:00 UTC
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B of A Securities Maintains Apple (AAPL) Neutral Recommendation
|
AAPL
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https://www.nasdaq.com/articles/b-of-a-securities-maintains-apple-aapl-neutral-recommendation-4
|
nan
|
nan
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Fintel reports that on September 13, 2023, B of A Securities maintained coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation.
Analyst Price Forecast Suggests 16.11% 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 16.11% from its latest reported closing price of 176.30.
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 6409 funds or institutions reporting positions in Apple. This is an increase of 24 owner(s) or 0.38% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. Total shares owned by institutions increased in the last three months by 0.28% to 9,941,728K shares.
The put/call ratio of AAPL is 0.87, 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 13, 2023, B of A Securities maintained coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
|
Fintel reports that on September 13, 2023, B of A Securities maintained coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
|
Fintel reports that on September 13, 2023, B of A Securities maintained coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
|
Fintel reports that on September 13, 2023, B of A Securities maintained coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
|
13704.0
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2023-09-13 00:00:00 UTC
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My Top 3 ‘Total Return’ Picks for September 2023
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AAPL
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https://www.nasdaq.com/articles/my-top-3-total-return-picks-for-september-2023
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The Standards and Practices (S&P) 500 has surged since the pandemic lows in March 2020, driven by monetary and fiscal stimulus, but growth might slow when the Federal Reserve tightens policies. This has led me to come up with my total return picks for September 2023.
The era of high returns may become more challenging. Consider focusing on companies that have historically delivered strong returns and still have growth potential. Here are my top three total return picks spanning various sectors with a history of outsized total returns (capital appreciation plus dividends), with promising prospects for the future.
McDonald’s (MCD)
Source: Vytautas Kielaitis / Shutterstock
Regardless of economic fluctuations, McDonald’s (NYSE:MCD) remains a dependable blue-chip stock. Its universal appeal, especially during the pandemic, proves its resilience. Inflationary concerns have impacted McDonald’s stock performance, despite strong recent results. However, cooling inflation has prompted a Wells Fargo upgrade, citing potential margin expansion as a catalyst.
Investors can rely on McDonald’s solid financials, including a 3.8% three-year revenue growth rate and consistent profitability. Analysts rate MCD stock as a strong buy, with a $332.32 price target, indicating 19% potential upside.
In the first quarter, DoubleLine ETF Adviser LP acquired 12,686 shares of McDonald’s, valued at around $3,547,000. This purchase accounts for approximately 1.5% of their holdings, ranking McDonald’s as their 13th largest holding. Other significant investors, such as Moneta Group Investment Advisors LLC and Norges Bank, also made substantial moves in McDonald’s stock during the fourth quarter. Moneta Group significantly increased its holdings, while Norges Bank initiated a new position in the company. This easily earned its spot in my total return picks.
Apple (AAPL)
Source: Eric Broder Van Dyke / Shutterstock.com
In the past year, Apple (NASDAQ:AAPL) raked in a staggering $384 billion in revenue, a mind-boggling figure. Yet, as a colossal enterprise, its growth is inevitably slowing, with sales declining year-over-year in the last three quarters.
However, from fiscal 2017 to fiscal 2022, it achieved an 11.5% annualized revenue growth, suggesting recent challenges could be linked to broader economic factors. While there’s optimism, it’s prudent for investors to manage their expectations.
Despite Apple’s maturing phase, it’s a cash machine. In fiscal 2022, it generated $111 billion in free cash flow, $80 billion in the first three quarters of fiscal 2023. While revenue growth may not thrill investors, it’s excellent at returning cash to shareholders. In the initial three fiscal 2023 quarters, it paid $11.3 billion in dividends and repurchased $56.5 billion in stock. Plus, Warren Buffett’s Berkshire Hathaway (NYSE:BRK-B) holds a roughly 6% stake in Apple, which provides a significant source of passive income for his conglomerate.
Devon Energy (DVN)
Source: T. Schneider / Shutterstock.com
Devon Energy (NYSE:DVN) could benefit from the return to office work, boosting traffic volumes. It’s a compelling speculative dividend choice with a 6.1% forward yield, beating the 4.24% sector average. A payout ratio of 43.79% shows confidence in its yield. Currently, DVN stock offers a rare nearly 10% yield with a quarterly dividend of $1.13 per share.
Devon Energy, based in Oklahoma City, fell 22.6% in the last year. This is partly due to its emphasis on natural gas production over crude oil. However, Devon has shifted focus towards crude oil in recent years. This shift toward crude oil sets the stage for future growth, potentially increasing both share prices and base dividends.
This is a company which is well-known for its variable dividend, which increases and decreases alongside the price of oil (and therefore the company’s profitability). Thus, for investors looking for a solid way to play upside in oil prices, given the trajectory they’ve been on of late, this is how I’d do it. The company’s total return over the past few years speaks for itself.
On the date of publication, Chris MacDonald has a LONG position in AAPL, BRK-B. 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 My Top 3 ‘Total Return’ Picks for September 2023 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 In the past year, Apple (NASDAQ:AAPL) raked in a staggering $384 billion in revenue, a mind-boggling figure. On the date of publication, Chris MacDonald has a LONG position in AAPL, BRK-B. Other significant investors, such as Moneta Group Investment Advisors LLC and Norges Bank, also made substantial moves in McDonald’s stock during the fourth quarter.
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Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com In the past year, Apple (NASDAQ:AAPL) raked in a staggering $384 billion in revenue, a mind-boggling figure. On the date of publication, Chris MacDonald has a LONG position in AAPL, BRK-B. Moneta Group significantly increased its holdings, while Norges Bank initiated a new position in the company.
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Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com In the past year, Apple (NASDAQ:AAPL) raked in a staggering $384 billion in revenue, a mind-boggling figure. On the date of publication, Chris MacDonald has a LONG position in AAPL, BRK-B. InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Standards and Practices (S&P) 500 has surged since the pandemic lows in March 2020, driven by monetary and fiscal stimulus, but growth might slow when the Federal Reserve tightens policies.
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Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com In the past year, Apple (NASDAQ:AAPL) raked in a staggering $384 billion in revenue, a mind-boggling figure. On the date of publication, Chris MacDonald has a LONG position in AAPL, BRK-B. Moneta Group significantly increased its holdings, while Norges Bank initiated a new position in the company.
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2023-09-13 00:00:00 UTC
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This $50 Billion Artificial Intelligence (AI) IPO Is Generating Massive Interest. There's Also a Huge Red Flag
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https://www.nasdaq.com/articles/this-%2450-billion-artificial-intelligence-ai-ipo-is-generating-massive-interest.-theres
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After back-to-back record-setting performances in 2020 and 2021, the market for initial public offerings (IPOs) hit a slump. The general market downturn last year caused many companies to delay their market debuts, but there's evidence of a rebound in the IPO market.
Exhibit A is the excitement surrounding the upcoming public debut of Arm Holdings. Nvidia (NASDAQ: NVDA) offered to buy the designer of central processing units (CPUs) used in smartphones for $40 billion in 2020, but regulatory challenges ultimately quashed the deal. Now, Arm is hoping to parley its expertise in semiconductors and the accelerating adoption of artificial intelligence (AI) into a $50 billion valuation, which would mark a big win for owner Softbank Group (OTC: SFTB.Y).
While there's been massive interest in the debut among tech circles, there's also a glaring red flag investors shouldn't ignore.
Image source: Getty Images.
The details
In a revised F-1 that was released last week, Arm said it plans to list its shares on the Nasdaq Stock Exchange using the ticker "ARM." The company initially planned to issue 95.5 million American depository shares, priced in a range of $47 to $51, which would have raised as much as $4.8 billion at the high end of the range, valuing the company at roughly $52 billion. After the offering, SoftBank would remain the majority shareholder, controlling nearly 91% of the stock.
Several reports emerged over the past week saying that Arm's offering was "more than five times oversubscribed," first reported by the Financial Times. This suggests that institutional investors, including investment banks and pension funds, are scrambling to take part in what could be the biggest IPO of the past couple of years.
Arm Holdings enlisted a cadre of investment banks to participate in its "road show," or a series of presentations designed to educate investors about the company and its prospects. The report went on to note that the "sheer number of bankers involved ... was itself a red flag."
Softbank also lined up a veritable Who's-Who technology companies, many of which are its biggest customers, to participate in the offering. Nvidia, Advanced Micro Devices, Apple, Alphabet, Intel, and Taiwan Semiconductor Manufacturing expressed an interest in purchasing as much as $735 million in Arm's stock, though they aren't obligated to do so.
Now, after drumming up a significant amount of interest, SoftBank is considering raising the proposed IPO stock price even higher in an effort to maximize its take from Arm's IPO.
A steep valuation
Arm's initial IPO price range would have already valued the company in pretty rarified territory.
For the fiscal year ended March 31, 2023, Arm generated revenue of $2.68 billion, which declined 1% year over year, resulting in net income of $524 million, down 5%. This suggests the company has yet to tap into the massive opportunity represented by generative AI -- which would no doubt be reflected in its results.
A valuation of between $48 billion and $52 billion would have fetched a price-to-earnings (P/E) ratio of between 92 and 99 times its trailing 12-month earnings.
For context, Nvidia currently trades for 110 times trailing 12-month earnings. However, in its fiscal 2024 second quarter (ended Jul. 30), Nvidia generated revenue of $13.5 billion, up 101%, while net income of $6.2 billion soared 843%. That represents a stark contrast to a company attempting to paint itself as the next Nvidia.
There's no denying Arm's notable place in the semiconductor industry but given the frenzy surrounding its IPO, investors risk paying too high a price.
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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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Nvidia (NASDAQ: NVDA) offered to buy the designer of central processing units (CPUs) used in smartphones for $40 billion in 2020, but regulatory challenges ultimately quashed the deal. Now, Arm is hoping to parley its expertise in semiconductors and the accelerating adoption of artificial intelligence (AI) into a $50 billion valuation, which would mark a big win for owner Softbank Group (OTC: SFTB.Y). Nvidia, Advanced Micro Devices, Apple, Alphabet, Intel, and Taiwan Semiconductor Manufacturing expressed an interest in purchasing as much as $735 million in Arm's stock, though they aren't obligated to do so.
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Nvidia, Advanced Micro Devices, Apple, Alphabet, Intel, and Taiwan Semiconductor Manufacturing expressed an interest in purchasing as much as $735 million in Arm's stock, though they aren't obligated to do so. For the fiscal year ended March 31, 2023, Arm generated revenue of $2.68 billion, which declined 1% year over year, resulting in net income of $524 million, down 5%. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Apple, Nvidia, and Taiwan Semiconductor Manufacturing.
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The company initially planned to issue 95.5 million American depository shares, priced in a range of $47 to $51, which would have raised as much as $4.8 billion at the high end of the range, valuing the company at roughly $52 billion. Nvidia, Advanced Micro Devices, Apple, Alphabet, Intel, and Taiwan Semiconductor Manufacturing expressed an interest in purchasing as much as $735 million in Arm's stock, though they aren't obligated to do so. For the fiscal year ended March 31, 2023, Arm generated revenue of $2.68 billion, which declined 1% year over year, resulting in net income of $524 million, down 5%.
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For the fiscal year ended March 31, 2023, Arm generated revenue of $2.68 billion, which declined 1% year over year, resulting in net income of $524 million, down 5%. A valuation of between $48 billion and $52 billion would have fetched a price-to-earnings (P/E) ratio of between 92 and 99 times its trailing 12-month earnings. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Apple, Nvidia, and Taiwan Semiconductor Manufacturing.
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2023-09-13 00:00:00 UTC
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The 3 Most Undervalued Mutual Funds to Buy in September 2023
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https://www.nasdaq.com/articles/the-3-most-undervalued-mutual-funds-to-buy-in-september-2023
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Mutual funds are pools of money that investors entrust to professional managers, who invest them in a diversified portfolio of stocks, bonds, or other assets.
They offer benefits of diversification, professional management, low costs, and liquidity. An important to any investor’s portfolio, they provide exposure to different sectors and regions that can enhance returns and reduce risk over time. However, finding the best mutual fund is not always an easy task. Plenty of mutual funds offer lukewarm performance or high fees or uncompelling strategies.
Outperforming their benchmarks and peers over the long term, below are three undervalued mutual funds worth considering for 2023.
Heartland Mid Cap Value Fund (HRMDX)
Source: iQoncept / Shutterstock.com
The Heartland Mid Cap Value Fund (HRMDX) invests in mid-sized companies that are undervalued based on their earnings, cash flow, or assets.
Heartland Mid Cap’s fund managers use a bottom-up approach to find companies with strong balance sheets, competitive advantages, and growth catalysts. Also, the fund avoids companies with excessive debt, poor governance, or ESG issues.
Will Nasgovitz, current portfolio manager of HRMDX, also serves as the company’s CEO. Heartland’s strategy typically leads them to hold between 50 and 70 stocks, with a median market cap of $11 billion. This strategy is compelling for investors who want exposure to smaller companies that are maintaining stable growth rates in their respective markets.
The fund has delivered impressive long term results, beating its benchmark, the Russell Midcap Value Index. In particular, Heartland Mid Cap has returned 10.7% as of the end of August, compared to 5.9% for the index. The fund also ranked in the top 1% of its category in the past one-, three-, five-, and 10-year periods.
The Heartland Mid Cap Value’s top holdings as of the second quarter included NOV (NYSE:NOV), Teradata (NYSE:TDC), and Centene Corporation (NYSE:CNC). These holdings span oil and gas, cloud computing, and healthcare spaces, respectively, providing investors with a diverse stock composition.
Vanguard Growth Index Fund Admiral Shares (VIGAX)
Source: Shutterstock
The Vanguard Growth Index Fund (VIGAX) invests in large-cap growth stocks that have strong earnings growth, high return on equity, and positive price momentum. The fund’s managers use an index approach to track the performance of the CRSP US Large Cap Growth Index, a benchmark that represents about half of the U.S. large-cap stock market.
Gerard O’Reilly has advised the fund since 1994 and seems to be having a great year in terms of fund performance. From the beginning of the year until the end of August, the Vanguard Growth Index Fund has returned 36.1%, compared to 36.2% for its benchmark.
This also brings the fund well ahead of the Nasdaq which has rallied 34.1% for the same period. Taking a glance at the Vanguard Growth Index Fund’s top holdings, it’s easy to understand why. The fund’s top holdings as of Dec. 31, 2022 included Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Nvidia (NASDAQ:NVDA).
All of these stocks have rallied significantly this year after reaching substantial lows in 2022. If the rally continues based on positive economic news, then holders of the Vanguard Growth Index Fund should fare well.
Baird Aggregate Bond Fund (BAGSX)
Source: focal point / Shutterstock
If you’re an investor desiring exposure to the lucrative bond market, the Baird Aggregate Bond Fund (BAGSX) may be just for you.
This fund invests in investment grade U.S. dollar denominated bonds across the fixed-income market. The fund’s managers use a top-down approach to assess the macroeconomic environment and allocate the fund’s assets among various bond sectors. The fund also uses a bottom-up approach to analyze the attractiveness of select individual bonds offering attractive yields, credit quality, and duration.
The fund has been co-managed by Mary Ellen Stanek and Warren D. Pierson since 2000, and they have managed the fund to hold more than 1,700 bonds with an average duration of six years. The Aggregate Bond Fund has delivered consistent results over the long term, beating its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index. The fund investor shares have returned 2.2% year to date, while its institutional shares have returned 2.43%. Both return rates are above the benchmark return which was 2.1%.
With interest rates still elevated and another hike still possible, bondholders could definitely benefit from holding shares in the Baird Aggregate Bond Fund.
On the date of publication, Tyrik Torres 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
Tyrik Torres has been studying and participating in financial markets since he was in college, and he has particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.
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The post The 3 Most Undervalued Mutual Funds to Buy in September 2023 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 fund’s top holdings as of Dec. 31, 2022 included Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Nvidia (NASDAQ:NVDA). Heartland Mid Cap’s fund managers use a bottom-up approach to find companies with strong balance sheets, competitive advantages, and growth catalysts. These holdings span oil and gas, cloud computing, and healthcare spaces, respectively, providing investors with a diverse stock composition.
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The fund’s top holdings as of Dec. 31, 2022 included Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Nvidia (NASDAQ:NVDA). Heartland Mid Cap Value Fund (HRMDX) Source: iQoncept / Shutterstock.com The Heartland Mid Cap Value Fund (HRMDX) invests in mid-sized companies that are undervalued based on their earnings, cash flow, or assets. Heartland Mid Cap’s fund managers use a bottom-up approach to find companies with strong balance sheets, competitive advantages, and growth catalysts.
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The fund’s top holdings as of Dec. 31, 2022 included Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Nvidia (NASDAQ:NVDA). Heartland Mid Cap Value Fund (HRMDX) Source: iQoncept / Shutterstock.com The Heartland Mid Cap Value Fund (HRMDX) invests in mid-sized companies that are undervalued based on their earnings, cash flow, or assets. Vanguard Growth Index Fund Admiral Shares (VIGAX) Source: Shutterstock The Vanguard Growth Index Fund (VIGAX) invests in large-cap growth stocks that have strong earnings growth, high return on equity, and positive price momentum.
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The fund’s top holdings as of Dec. 31, 2022 included Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Nvidia (NASDAQ:NVDA). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Mutual funds are pools of money that investors entrust to professional managers, who invest them in a diversified portfolio of stocks, bonds, or other assets. In particular, Heartland Mid Cap has returned 10.7% as of the end of August, compared to 5.9% for the index.
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2023-09-13 00:00:00 UTC
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Apple Event: 2 Key Takeaways for Investors
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https://www.nasdaq.com/articles/apple-event%3A-2-key-takeaways-for-investors
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Apple AAPL, which needs little introduction, recently hosted its ‘Wanderlust’ event, with many tuning in and watching like hawks. It’s easy to understand why the event was such a big deal, as the company has become a favorite among investors following years of outperformance from shares.
However, since the beginning of August, AAPL shares have lost roughly 10% in value compared to the S&P 500’s 2% decline. Fears of weakening iPhone sales in a maturing smartphone market have had investors feeling a tad nervous, particularly following increasing competition with Huawei.
Image Source: Zacks Investment Research
Let’s take a closer look at a few key announcements from the technology titan during its event.
iPhone 15
Apple unveiled the details surrounding its new iPhone 15 and iPhone 15 Pro, the event's primary focus for many.
Interestingly, the iPhone 15 Pro will be the company’s first model with an aerospace-grade titanium design, giving it a sleek look. The model is powered by an A17 Pro chip, has a customizable action button, and boasts the iPhone’s most powerful camera system ever.
Most importantly, the iPhone 15 Pro will support USB-C with USB-3 for improved charging speeds, a feature many requested for years.
Regarding the standard iPhone 15 model, a new 48-megapixel camera that provides super-high-resolution has been added. In addition, the model has color-infused glass and an aluminum design, looking similar to the models we’ve been accustomed to.
The iPhone 15 Pro starts at $999, whereas the standard model starts at $799. Apple generated roughly $39.7 billion in iPhone revenue throughout its latest period, slightly below the Zacks Consensus Estimate and falling 2.5% from the year-ago quarter.
Apple Watch Series 9
The company also unveiled the Apple Watch Series 9, which looks highly impressive from the get-go and boasts the most powerful watch chip yet. The new dual-core CPU has 60% more transistors than the Series 8 chip, and its new four-core Neural Engine processes machine learning tasks up to 2X faster.
Still, the most exciting feature of the new Apple Watch is what’s being referred to as ‘Double Tap.’ Consumers can simply double-tap their index finger and thumb together to make calls, open notifications, play music, and more.
The watch’s display is twice as bright, boasts better Siri dictation, offers HomePod control, and starts at $399. The Apple Watch, along with AirPods, have been solid growth contributors to the company’s top line, with Wearables, Home, and Accessories revenue of $41.2 billion in FY22 growing 35% since FY20.
Bottom Line
Technology heavyweight Apple AAPL hosted its ‘Wanderlust’ event recently, providing a peek behind the scenes of new products. Of course, the iPhone 15 was the focal point, with the Apple Watch also seeing considerable attention.
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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, which needs little introduction, recently hosted its ‘Wanderlust’ event, with many tuning in and watching like hawks. However, since the beginning of August, AAPL shares have lost roughly 10% in value compared to the S&P 500’s 2% decline. Bottom Line Technology heavyweight Apple AAPL hosted its ‘Wanderlust’ event recently, providing a peek behind the scenes of new products.
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Bottom Line Technology heavyweight Apple AAPL hosted its ‘Wanderlust’ event recently, providing a peek behind the scenes of new products. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple AAPL, which needs little introduction, recently hosted its ‘Wanderlust’ event, with many tuning in and watching like hawks.
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Apple AAPL, which needs little introduction, recently hosted its ‘Wanderlust’ event, with many tuning in and watching like hawks. However, since the beginning of August, AAPL shares have lost roughly 10% in value compared to the S&P 500’s 2% decline. Bottom Line Technology heavyweight Apple AAPL hosted its ‘Wanderlust’ event recently, providing a peek behind the scenes of new products.
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Apple AAPL, which needs little introduction, recently hosted its ‘Wanderlust’ event, with many tuning in and watching like hawks. However, since the beginning of August, AAPL shares have lost roughly 10% in value compared to the S&P 500’s 2% decline. Bottom Line Technology heavyweight Apple AAPL hosted its ‘Wanderlust’ event recently, providing a peek behind the scenes of new products.
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2023-09-13 00:00:00 UTC
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SoftBank's Arm discusses pricing IPO at $52 per share -source
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https://www.nasdaq.com/articles/softbanks-arm-discusses-pricing-ipo-at-%2452-per-share-source-0
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By Anirban Sen
NEW YORK, Sept 13 (Reuters) - SoftBank Group Corp's 9984.T chip designer Arm Holdings Plc ARM.O was discussing pricing its U.S. initial public offering (IPO) at $52 per share on Wednesday afternoon in a meeting with its investment bankers, a person familiar with the matter said.
If this pricing is finalized, it would be above Arm's indicated $47-$51 price range and would raise $4.97 billion for SoftBank, based on 95.5 million shares sold.
It would infer a valuation on Arm on a fully diluted basis of $55.5 billion, making it the largest stock market debut since electric car maker Rivian Automotive Inc RIVN.O in 2021.
The source requested anonymity because the deliberations are confidential. Arm did not immediately respond to a request for comment. The Wall Street Journal reported earlier that Arm was preparing to price its IPO at $52 per share.
Arm's shares are scheduled to start trading in New York on Thursday.
The IPO's valuation would represent a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from the $100 billion Vision Fund it manages.
Yet even with this lower valuation, SoftBank would fare better than its $40 billion deal to sell Arm to Nvidia Corp NVDA.O, which it abandoned last year amid opposition from antitrust regulators. SoftBank took Arm private in 2016 for $32 billion.
Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS.
(Reporting by Anirban Sen; Editing by Sandra Maler )
((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters Messaging: Signal/Telegram/Whatsapp - +1-646-705-9409))
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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Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. By Anirban Sen NEW YORK, Sept 13 (Reuters) - SoftBank Group Corp's 9984.T chip designer Arm Holdings Plc ARM.O was discussing pricing its U.S. initial public offering (IPO) at $52 per share on Wednesday afternoon in a meeting with its investment bankers, a person familiar with the matter said. It would infer a valuation on Arm on a fully diluted basis of $55.5 billion, making it the largest stock market debut since electric car maker Rivian Automotive Inc RIVN.O in 2021.
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Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. By Anirban Sen NEW YORK, Sept 13 (Reuters) - SoftBank Group Corp's 9984.T chip designer Arm Holdings Plc ARM.O was discussing pricing its U.S. initial public offering (IPO) at $52 per share on Wednesday afternoon in a meeting with its investment bankers, a person familiar with the matter said. Arm's shares are scheduled to start trading in New York on Thursday.
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Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. By Anirban Sen NEW YORK, Sept 13 (Reuters) - SoftBank Group Corp's 9984.T chip designer Arm Holdings Plc ARM.O was discussing pricing its U.S. initial public offering (IPO) at $52 per share on Wednesday afternoon in a meeting with its investment bankers, a person familiar with the matter said. If this pricing is finalized, it would be above Arm's indicated $47-$51 price range and would raise $4.97 billion for SoftBank, based on 95.5 million shares sold.
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Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. By Anirban Sen NEW YORK, Sept 13 (Reuters) - SoftBank Group Corp's 9984.T chip designer Arm Holdings Plc ARM.O was discussing pricing its U.S. initial public offering (IPO) at $52 per share on Wednesday afternoon in a meeting with its investment bankers, a person familiar with the matter said. If this pricing is finalized, it would be above Arm's indicated $47-$51 price range and would raise $4.97 billion for SoftBank, based on 95.5 million shares sold.
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2023-09-13 00:00:00 UTC
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US STOCKS-S&P 500 ends higher as CPI data cements bets for Fed pause
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https://www.nasdaq.com/articles/us-stocks-sp-500-ends-higher-as-cpi-data-cements-bets-for-fed-pause
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By Noel Randewich and Ankika Biswas
Sept 13 (Reuters) - The S&P 500 and Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September.
Megacap growth stocks Tesla TSLA.O, Meta Platforms META.O, Microsoft MSFT.O and Amazon.com AMZN.Ogained over 1% each.
Apple AAPL.Odipped 1.2%, down for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged.
The S&P 500 climbed 0.12% to end the session at 4,467.44 points.
The Nasdaq gained 0.29% to 13,813.59 points, while the Dow Jones Industrial Average declined 0.20% to 34,575.53 points.
The S&P 500 consumer discretionary index .SPLRCD climbed 0.9%, lifted as Ford Motor F.N rallied 1.5% on the vehicle maker's plans to double the production of its hybrid F-150 pickup trucks in 2024.
Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years.
Stickiness in services inflation has kept alive prospects of a November hike. Interest rate traders now see a 97% chance of the Fed holding rates in September, and a 61% likelihood of a pause in November, according to the CME FedWatch Tool.
"I don't think the Fed wants to throw a shock and do a 25-basis-point hike when the expectations are that they won't, but rate hikes are not completely off the table for the rest of the year," said Victoria Fernandez, chief market strategist at Crossmark Global Investment.
Gasoline prices, which have stoked inflation worries, peaked at $3.984 per gallon in the third week of the month, compared with $3.676 per gallon during the same period in July.
The S&P 500 utilities index .SPLRCUgained 1.2%, with the traditionally defensive sector's rally hinting at investor nervousness ahead of producer price and retail sales data on Thursday, which could influence the Fed's Sept. 20 policy decision.
"That is somewhat of a red flag, it points to skittishness among equity holders, and that's not necessarily unexpected," said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.
The Fed is unlikely to cut rates before the April-June period next year, a Reuters poll showed.
Volume on U.S. exchanges was in line with recent weeks, with 9.9 billion shares traded, compared to an average of 9.9 billion shares over the previous 20 sessions.
Citigroup C.N rose 1.7% after CEO Jane Fraser announced a major management re-organization that will result in more job cuts and give her greater direct oversight over the bank as she seeks to simplify its structure.
U.S.-listed shares of Chinese electric-vehicle makers Nio NIO.N and Xpeng XPEV.Ndropped 4.7% and 3.1%, respectively, after the European Commission started an investigation to assess whether their vehicles warrant punitive tariffs.
Sprit AirlinesSAVE.Nfell over 6% after the low-cost carrier cut its third-quarter revenue outlook to reflect rising fuel prices.
ModernaMRNA.O gained 3.2% after the drugmaker said its flu vaccine mRNA-1010 met the primary goal in a late-stage trial. The firm also announced it was scaling down manufacturing of its COVID-19 vaccine.
Declining stocks outnumbered rising ones within the S&P 500 .AD.SPX by a 1.5-to-one ratio.
The S&P 500 posted 10 new highs and 11 new lows; the Nasdaq recorded 20 new highs and 199 new lows.
Rates and inflation Rates and inflation https://tmsnrt.rs/3U8HdD2
(Reporting by Ankika Biswas, Shristi Achar A and Shubham Batra in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Savio D'Souza, Vinay Dwivedi and Deepa Babington)
((noel.randewich@tr.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.Odipped 1.2%, down for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. By Noel Randewich and Ankika Biswas Sept 13 (Reuters) - The S&P 500 and Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. The S&P 500 utilities index .SPLRCUgained 1.2%, with the traditionally defensive sector's rally hinting at investor nervousness ahead of producer price and retail sales data on Thursday, which could influence the Fed's Sept. 20 policy decision.
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Apple AAPL.Odipped 1.2%, down for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. By Noel Randewich and Ankika Biswas Sept 13 (Reuters) - The S&P 500 and Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years.
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Apple AAPL.Odipped 1.2%, down for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. By Noel Randewich and Ankika Biswas Sept 13 (Reuters) - The S&P 500 and Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years.
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Apple AAPL.Odipped 1.2%, down for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. By Noel Randewich and Ankika Biswas Sept 13 (Reuters) - The S&P 500 and Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. The S&P 500 climbed 0.12% to end the session at 4,467.44 points.
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13710.0
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2023-09-13 00:00:00 UTC
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Chinese titanium producers expect boost from new iPhone
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AAPL
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https://www.nasdaq.com/articles/chinese-titanium-producers-expect-boost-from-new-iphone
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nan
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nan
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BEIJING, Sept 13 (Reuters) - China's titanium producers said on Wednesday they expect stronger demand for the lightweight metal after the launch of a new model of Apple's iPhone with a titanium shell.
Production of the new Apple AAPL.O iPhone 15 Pro, unveiled on Tuesday, will lift demand for titanium by between 3% and 4% this year, or by as much as 10,000 tons, said Zhao Wei, information director at the Titanium Zirconium Hafnium branch of the China Nonferrous Metals Industry Association (CNIA).
China accounts for more than 60% of the 240,000 metric tons of titanium and titanium alloys produced globally each year, according to the CNIA.
Apple's use of titanium, rather than a stainless steel shell, could trigger additional demand too, with other companies likely to follow its lead, Zhao and other market participants said.
"Following Apple's lead, there will be other brands starting to use titanium alloys in their products, creating a bright spot for demand growth of the metal," said Zhao.
China is also the biggest producer of iPhones, with global shipments made by Foxconn from a huge factory in central China.
About 40% of titanium is currently used in the chemicals sector and more than 30% in aerospace. The electronics sector accounts for less than 10% of demand, estimated Zhao, but has strong potential for growth.
Titanium has already been used in small volumes in Apple watches, but a contract to supply production of the new iPhone model is significantly larger than before, said a supplier who declined to be identified citing confidentiality.
A consumer product "monster" such as the iPhone would help bring wider adoption of titanium in new industries, replacing materials like stainless steel, he added.
The titanium shell on the new iPhone is made with an alloy known as Grade 5 Titanium that also contains small amounts of aluminium and vanadium, according to three Chinese titanium producers.
The alloy is known for excellent corrosion resistance, light weight and strength but cannot be produced by all suppliers, said Zhao.
"There's a technical barrier to produce titanium alloys and international enterprises such as Apple require high standards. So we won't see the market crowded with newcomers," he said.
(Reporting by Ningwei Qin, Amy Lv, Siyi Liu and Dominique Patton; Editing by Sharon Singleton)
((dominique.patton@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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Production of the new Apple AAPL.O iPhone 15 Pro, unveiled on Tuesday, will lift demand for titanium by between 3% and 4% this year, or by as much as 10,000 tons, said Zhao Wei, information director at the Titanium Zirconium Hafnium branch of the China Nonferrous Metals Industry Association (CNIA). "Following Apple's lead, there will be other brands starting to use titanium alloys in their products, creating a bright spot for demand growth of the metal," said Zhao. Titanium has already been used in small volumes in Apple watches, but a contract to supply production of the new iPhone model is significantly larger than before, said a supplier who declined to be identified citing confidentiality.
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Production of the new Apple AAPL.O iPhone 15 Pro, unveiled on Tuesday, will lift demand for titanium by between 3% and 4% this year, or by as much as 10,000 tons, said Zhao Wei, information director at the Titanium Zirconium Hafnium branch of the China Nonferrous Metals Industry Association (CNIA). BEIJING, Sept 13 (Reuters) - China's titanium producers said on Wednesday they expect stronger demand for the lightweight metal after the launch of a new model of Apple's iPhone with a titanium shell. China accounts for more than 60% of the 240,000 metric tons of titanium and titanium alloys produced globally each year, according to the CNIA.
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Production of the new Apple AAPL.O iPhone 15 Pro, unveiled on Tuesday, will lift demand for titanium by between 3% and 4% this year, or by as much as 10,000 tons, said Zhao Wei, information director at the Titanium Zirconium Hafnium branch of the China Nonferrous Metals Industry Association (CNIA). BEIJING, Sept 13 (Reuters) - China's titanium producers said on Wednesday they expect stronger demand for the lightweight metal after the launch of a new model of Apple's iPhone with a titanium shell. The titanium shell on the new iPhone is made with an alloy known as Grade 5 Titanium that also contains small amounts of aluminium and vanadium, according to three Chinese titanium producers.
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Production of the new Apple AAPL.O iPhone 15 Pro, unveiled on Tuesday, will lift demand for titanium by between 3% and 4% this year, or by as much as 10,000 tons, said Zhao Wei, information director at the Titanium Zirconium Hafnium branch of the China Nonferrous Metals Industry Association (CNIA). Apple's use of titanium, rather than a stainless steel shell, could trigger additional demand too, with other companies likely to follow its lead, Zhao and other market participants said. The electronics sector accounts for less than 10% of demand, estimated Zhao, but has strong potential for growth.
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13711.0
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2023-09-13 00:00:00 UTC
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Company News for Sep 13, 2023
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AAPL
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https://www.nasdaq.com/articles/company-news-for-sep-13-2023
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nan
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nan
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Shares of Amazon.com, Inc. AMZN fell 1.3%, with tech stocks sliding.
Shares of Casey's General Stores, Inc. CASY jumped 11.2% after reporting first-quarter fiscal 2024 earnings of $4.52 per share, widely surpassing the Zacks Consensus Estimate of $3.36.
Marathon Oil Corporation’s MRO shares gained 3.7% as energy prices continued to soar.
Shares of Apple Inc. AAPL slid 1.7% after unveiling new iPhone models while not increasing the price range because of a global smartphone slump.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Marathon Oil Corporation (MRO) : Free Stock Analysis Report
Casey's General Stores, Inc. (CASY) : 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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Shares of Apple Inc. AAPL slid 1.7% after unveiling new iPhone models while not increasing the price range because of a global smartphone slump. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Marathon Oil Corporation (MRO) : Free Stock Analysis Report Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report To read this article on Zacks.com click here. Marathon Oil Corporation’s MRO shares gained 3.7% as energy prices continued to soar.
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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 Marathon Oil Corporation (MRO) : Free Stock Analysis Report Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Apple Inc. AAPL slid 1.7% after unveiling new iPhone models while not increasing the price range because of a global smartphone slump. Shares of Casey's General Stores, Inc. CASY jumped 11.2% after reporting first-quarter fiscal 2024 earnings of $4.52 per share, widely surpassing the Zacks Consensus Estimate of $3.36.
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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 Marathon Oil Corporation (MRO) : Free Stock Analysis Report Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Apple Inc. AAPL slid 1.7% after unveiling new iPhone models while not increasing the price range because of a global smartphone slump. Top 5 ChatGPT Stocks Revealed Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence.
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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 Marathon Oil Corporation (MRO) : Free Stock Analysis Report Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Apple Inc. AAPL slid 1.7% after unveiling new iPhone models while not increasing the price range because of a global smartphone slump. Shares of Amazon.com, Inc. AMZN fell 1.3%, with tech stocks sliding.
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13712.0
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2023-09-13 00:00:00 UTC
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Should Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-goldman-sachs-activebeta-u.s.-large-cap-equity-etf-gslc-be-on-your-investing-10
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nan
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nan
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The Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) was launched on 09/17/2015, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
The fund is sponsored by Goldman Sachs Funds. It has amassed assets over $11.29 billion, making it one of the largest ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Large cap companies typically have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.
Blend ETFs usually hold a mix of growth and value stocks as well as stocks that exhibit both value and growth characteristics.
Costs
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Annual operating expenses for this ETF are 0.09%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 1.43%.
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 27.60% of the portfolio. Healthcare and Consumer Discretionary round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN).
The top 10 holdings account for about 25.24% of total assets under management.
Performance and Risk
GSLC seeks to match the performance of the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index before fees and expenses. The Goldman Sachs ActiveBeta U.S. Large Cap Equity Index is designed to deliver exposure to equity securities of large-capitalization U.S. issuers.
The ETF has gained about 15.78% so far this year and is up roughly 9.03% in the last one year (as of 09/13/2023). In the past 52-week period, it has traded between $71.02 and $90.06.
The ETF has a beta of 0.98 and standard deviation of 17.70% for the trailing three-year period, making it a medium risk choice in the space. With about 447 holdings, it effectively diversifies company-specific risk.
Alternatives
Goldman Sachs ActiveBeta U.S. Large Cap Equity 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, GSLC is a good option for those seeking exposure to the Style Box - Large Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Core S&P 500 ETF (IVV) and the SPDR S&P 500 ETF (SPY) track a similar index. While iShares Core S&P 500 ETF has $349.15 billion in assets, SPDR S&P 500 ETF has $413.24 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
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
Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC): 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
SPDR S&P 500 ETF (SPY): ETF Research Reports
iShares Core S&P 500 ETF (IVV): 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 6.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Click to get this free report Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. It has amassed assets over $11.29 billion, making it one of the largest ETFs attempting to match the Large Cap Blend segment of the US equity market.
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Click to get this free report Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Performance and Risk GSLC seeks to match the performance of the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index before fees and expenses.
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Click to get this free report Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). The Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) was launched on 09/17/2015, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
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Click to get this free report Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Annual operating expenses for this ETF are 0.09%, making it one of the least expensive products in the space.
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13713.0
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2023-09-13 00:00:00 UTC
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FACTBOX-As Apple launches new phone, key facts on titanium
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AAPL
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https://www.nasdaq.com/articles/factbox-as-apple-launches-new-phone-key-facts-on-titanium
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nan
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nan
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LONDON, Sept 13 (Reuters) - Apple AAPL.O launched a new series of iPhones this week that included a titanium shell, which will make the handsets the lightest the company has ever made and the case more durable.
Titanium is increasingly being used in mobile phones. China's titanium producers said they expect stronger demand after the launch of the new Apple models.
Here are some key facts on titanium:
WHERE IS TITANIUM PRODUCED?
Titanium minerals are used to make titanium sponge which can be turned into metal for industrial applications.
China is the world's largest producer of titanium sponge, accounting for 150,000 metric tons last year or 58% of the 260,000 tons of global output, according to the United States Geological Survey (USGS).
USGS data shows Japan comes next with nearly 19%, followed by Russia with nearly 10% of the market. Kazakhstan produced 16,000 tons and Ukraine 1,000 tons in 2022.
WHO IMPORTS AND EXPORTS TITANIUM?
According to Trade Data Monitor (TDM), the United States was the largest importer of titanium sponge last year with 36% of the total at nearly 83,000 tons, which excludes Russian numbers because they are not available.
China was the second largest importer of titanium sponge with more than 13,000 tons last year, followed by South Korea with 9,000 tons, according to TDM.
Japan was the world's largest exporter of titanium sponge last year, shipping nearly 35,000 tons, followed by Kazakhstan and Saudi Arabia on nearly 16,000 tons and 10,000 tons respectively, TDM data shows.
WHAT IS TITANIUM USED FOR?
Titanium is used in the aerospace industry to make landing gear, blades and turbine discs. In the marine industry, titanium sheet is used to make ships and submarines and in the auto sector it is used in components for internal combustion engines.
It offers protection from fatigue and cracking in chemical processing and in vaping, titanium wire is used to enhance safety and control temperature while in sport its uses include golf club heads.
Titanium is also used for joint replacements and dental implants because it has a similar density to human bones.
WHAT'S IN A NAME?
The name Titanium is derived from the Titans of Greek mythology, with the metal accounting for about 0.6% of the earth's mass.
It is a hard, strong, lightweight metal with extraordinary resistance to corrosion. Titanium is as strong as steel, yet 45% lighter.
Chinese consumers cheer Apple's iPhone 15, others prefer Huawei
EXPLAINER-Why has France banned sales of Apple's iPhone 12?
Apple vs Huawei: a new smartphone battle divides China
FACTBOX-Apple rolls out iPhone 15, watches with 'double tap' feature at flagship event
(Reporting by Pratima Desai; editing by Emelia Sithole-Matarise)
((pratima.desai@thomsonreuters.com; +44 207 513 5681;))
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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LONDON, Sept 13 (Reuters) - Apple AAPL.O launched a new series of iPhones this week that included a titanium shell, which will make the handsets the lightest the company has ever made and the case more durable. According to Trade Data Monitor (TDM), the United States was the largest importer of titanium sponge last year with 36% of the total at nearly 83,000 tons, which excludes Russian numbers because they are not available. It offers protection from fatigue and cracking in chemical processing and in vaping, titanium wire is used to enhance safety and control temperature while in sport its uses include golf club heads.
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LONDON, Sept 13 (Reuters) - Apple AAPL.O launched a new series of iPhones this week that included a titanium shell, which will make the handsets the lightest the company has ever made and the case more durable. China is the world's largest producer of titanium sponge, accounting for 150,000 metric tons last year or 58% of the 260,000 tons of global output, according to the United States Geological Survey (USGS). According to Trade Data Monitor (TDM), the United States was the largest importer of titanium sponge last year with 36% of the total at nearly 83,000 tons, which excludes Russian numbers because they are not available.
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LONDON, Sept 13 (Reuters) - Apple AAPL.O launched a new series of iPhones this week that included a titanium shell, which will make the handsets the lightest the company has ever made and the case more durable. China is the world's largest producer of titanium sponge, accounting for 150,000 metric tons last year or 58% of the 260,000 tons of global output, according to the United States Geological Survey (USGS). China was the second largest importer of titanium sponge with more than 13,000 tons last year, followed by South Korea with 9,000 tons, according to TDM.
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LONDON, Sept 13 (Reuters) - Apple AAPL.O launched a new series of iPhones this week that included a titanium shell, which will make the handsets the lightest the company has ever made and the case more durable. China is the world's largest producer of titanium sponge, accounting for 150,000 metric tons last year or 58% of the 260,000 tons of global output, according to the United States Geological Survey (USGS). Japan was the world's largest exporter of titanium sponge last year, shipping nearly 35,000 tons, followed by Kazakhstan and Saudi Arabia on nearly 16,000 tons and 10,000 tons respectively, TDM data shows.
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13714.0
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2023-09-13 00:00:00 UTC
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Should Vanguard Russell 1000 ETF (VONE) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-vanguard-russell-1000-etf-vone-be-on-your-investing-radar-9
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nan
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nan
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The Vanguard Russell 1000 ETF (VONE) was launched on 09/22/2010, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
The fund is sponsored by Vanguard. It has amassed assets over $3.75 billion, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Companies that fall in the large cap category tend to have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.
Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.
Costs
Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining 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 1.41%.
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 27.10% of the portfolio. Healthcare and Financials round out the top three.
Looking at individual holdings, Apple Inc. (AAPL) accounts for about 6.94% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN).
Performance and Risk
VONE seeks to match the performance of the Russell 1000 Index before fees and expenses. The Russell 1000 Index measures the performance of large-capitalization stocks in the United States.
The ETF has added about 17.25% so far this year and was up about 9.53% in the last one year (as of 09/13/2023). In the past 52-week period, it has traded between $162.86 and $208.54.
The ETF has a beta of 1.02 and standard deviation of 18.24% for the trailing three-year period, making it a medium risk choice in the space. With about 1008 holdings, it effectively diversifies company-specific risk.
Alternatives
Vanguard Russell 1000 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, VONE is a sufficient option for those seeking exposure to the Style Box - Large Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Core S&P 500 ETF (IVV) and the SPDR S&P 500 ETF (SPY) track a similar index. While iShares Core S&P 500 ETF has $349.15 billion in assets, SPDR S&P 500 ETF has $413.24 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
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.
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
Vanguard Russell 1000 ETF (VONE): 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
SPDR S&P 500 ETF (SPY): ETF Research Reports
iShares Core S&P 500 ETF (IVV): 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 6.94% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN). Click to get this free report Vanguard Russell 1000 ETF (VONE): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. The Vanguard Russell 1000 ETF (VONE) was launched on 09/22/2010, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
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Click to get this free report Vanguard Russell 1000 ETF (VONE): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc. (AAPL) accounts for about 6.94% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN). The Vanguard Russell 1000 ETF (VONE) was launched on 09/22/2010, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
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Click to get this free report Vanguard Russell 1000 ETF (VONE): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc. (AAPL) accounts for about 6.94% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN). Alternatives Vanguard Russell 1000 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, Apple Inc. (AAPL) accounts for about 6.94% of total assets, followed by Microsoft Corp. (MSFT) and Amazon.com Inc. (AMZN). Click to get this free report Vanguard Russell 1000 ETF (VONE): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. The Vanguard Russell 1000 ETF (VONE) was launched on 09/22/2010, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
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13715.0
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2023-09-13 00:00:00 UTC
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1 Analyst Says 3 Artificial Intelligence (AI) Growth Stocks Will Join the $3 Trillion Club and Could Leave Apple in the Dust Over the Coming Decade. Is She Right?
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AAPL
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https://www.nasdaq.com/articles/1-analyst-says-3-artificial-intelligence-ai-growth-stocks-will-join-the-%243-trillion-club
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nan
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nan
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Over the past few years, it seemed that Apple (NASDAQ: AAPL) was unstoppable. The iPhone maker was a founding member of the $1 trillion club in mid-2018, and while the company has occasionally ceded its title as the world's most valuable company, if ever so briefly, Apple has always come roaring back, reestablishing itself at the top of the heap. The company was also a charter member of the $2 trillion club and saw its market cap briefly eclipse $3 trillion earlier this year, the first U.S. publicly traded company to surpass each of these benchmarks.
While it might seem unlikely that Apple's dominance is in jeopardy, recent advancements in artificial intelligence (AI) threaten to dethrone the iPhone maker, with a trio of technology companies poised to depose the once and future king, with the changing of the guard brought about by developments in generative AI.
Let's look at how we arrived at the juncture and what it means for the companies involved.
Image source: Getty Images.
Tapping the AI opportunity
The emergence of ChatGPT late last year set the tech world on fire. The next-generation chatbot developed a number of capabilities not previously possible, the most remarkable of which was to create original content from scratch. Further fanning the flames was Microsoft's (NASDAQ: MSFT) decision to invest $13 billion in ChatGPT's creator, OpenAI, while simultaneously integrating those advanced algorithms into its Bing search engine.
Microsoft's sophomore effort, dubbed 365 Copilot, offers users a laundry list of ways to increase productivity, which includes drafting emails, creating presentations based on existing data, and even writing and correcting computer code. Analysts at Macquarie Equity Research believe this could add as much as $14 billion in annual sales to Microsoft's coffers.
These moves set off a mad dash within technology circles, with each of the biggest tech companies scrambling to develop the large language models (LLMs) necessary to create their own generative AI systems.
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) was quick to roll out its Pathways Language Model (PaLM) LLM, which it boasted has the ability to "understand, generate, and translate nuanced text -- including idioms, poems, and riddles." This gave birth to Bard, its conversational AI service.
While its debut was marred by a factual error, Google quickly addressed the issue and introduced a flurry of product enhancements, infusing AI tools into Workspace, Google Docs, and Gmail, as well as into its Android and Pixel phones.
Even Amazon (NASDAQ: AMZN) jumped on the bandwagon. CEO Andy Jassy said Amazon is "reimagining" generative AI to fully tap the resulting opportunity, which will include helping its cloud customers train LLMs using their own data in a much more affordable way. Amazon will also help jump-start the use of chatbots or "conversational agents" customized for specific applications.
Each of the big three cloud providers has laid out plans to tap into the massive AI opportunity. Needham analyst Laura Martin suggests that these moves could propel the market caps of Microsoft, Alphabet, and Amazon above $3 trillion, saying, "Generative AI will redefine the basis of competition for media and internet companies."
"Not only do [Microsoft, Amazon, and Google's] LLMs have the lowest cost structures and first-mover advantages," she said, "but their average lifetime value per Cloud customer is about to skyrocket owing to the stickiness of apps built on their LLMs.
Martin went on to note that she expects these developments to play out over the coming 10 years.
At the same time, Apple's lack of a cloud computing platform prevents the company from offering these services -- but I wouldn't count the iPhone maker out, at least not yet.
The Apple of my eye
Until recently, Apple has been strangely silent on the issue, but that doesn't mean the company hasn't been working diligently behind the scenes on its generative AI strategy.
During theearnings callto discuss the results of its fiscal 2023 third quarter, ended July 1, CEO Tim Cook put to rest the notion that Apple was sitting idly by. "We view AI and machine learning as core fundamental technologies that are integral to virtually every product that we build," he said. "We've been doing research across a wide range of AI technologies, including generative AI, for years." Cook went on to point out that new generative AI tools would be coming to the new iPhone, but that Apple tended to "announce things as they come to market," adding, "that's our MO."
So while Apple may not have a cloud infrastructure service to peddle generative AI services, it does have more than 2 billion active devices worldwide. Reports suggest that Apple is working on its own generative AI platform, dubbed Apple GPT, according to a report by Bloomberg. That will provide the company with plenty of opportunities to benefit from the AI revolution.
A vast opportunity
To be clear, there's a certain advantage to being one of the world's largest cloud providers and selling AI solutions to a captive audience. But that doesn't mean it's the only way to benefit, and the market is vast.
Cathie Wood of Ark Investment Management has crunched the numbers and estimates that AI software could represent a $14 trillion market by 2030. That means there's plenty of opportunity for everyone.
Apple's history is rife with examples of taking the time to get things right before entering a market, and now is likely to be no different. It probably won't be long before a host of generative AI-infused tools and apps are coming to iPhones everywhere.
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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Danny Vena has positions in Alphabet, Amazon.com, Apple, and Microsoft. The Motley Fool has positions in and recommends Alphabet, Amazon.com, Apple, 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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Over the past few years, it seemed that Apple (NASDAQ: AAPL) was unstoppable. Microsoft's sophomore effort, dubbed 365 Copilot, offers users a laundry list of ways to increase productivity, which includes drafting emails, creating presentations based on existing data, and even writing and correcting computer code. CEO Andy Jassy said Amazon is "reimagining" generative AI to fully tap the resulting opportunity, which will include helping its cloud customers train LLMs using their own data in a much more affordable way.
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Over the past few years, it seemed that Apple (NASDAQ: AAPL) was unstoppable. Needham analyst Laura Martin suggests that these moves could propel the market caps of Microsoft, Alphabet, and Amazon above $3 trillion, saying, "Generative AI will redefine the basis of competition for media and internet companies." At the same time, Apple's lack of a cloud computing platform prevents the company from offering these services -- but I wouldn't count the iPhone maker out, at least not yet.
|
Over the past few years, it seemed that Apple (NASDAQ: AAPL) was unstoppable. While it might seem unlikely that Apple's dominance is in jeopardy, recent advancements in artificial intelligence (AI) threaten to dethrone the iPhone maker, with a trio of technology companies poised to depose the once and future king, with the changing of the guard brought about by developments in generative AI. Needham analyst Laura Martin suggests that these moves could propel the market caps of Microsoft, Alphabet, and Amazon above $3 trillion, saying, "Generative AI will redefine the basis of competition for media and internet companies."
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Over the past few years, it seemed that Apple (NASDAQ: AAPL) was unstoppable. CEO Andy Jassy said Amazon is "reimagining" generative AI to fully tap the resulting opportunity, which will include helping its cloud customers train LLMs using their own data in a much more affordable way. At the same time, Apple's lack of a cloud computing platform prevents the company from offering these services -- but I wouldn't count the iPhone maker out, at least not yet.
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13716.0
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2023-09-13 00:00:00 UTC
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3 Key Risks for Apple Stock Investors After the iPhone 15 Reveal
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AAPL
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https://www.nasdaq.com/articles/3-key-risks-for-apple-stock-investors-after-the-iphone-15-reveal
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nan
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nan
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Apple (AAPL) unveiled its iPhone 15 yesterday, in what’s been an annual ritual for the company for many years now. The event is closely followed by not only Apple fans, but also the investing community. New features of the iPhone 15 are getting all the attention today – and rightly so, considering the product’s appeal to millions of consumers, as well as its importance for Apple’s earnings.
However, investors should also be mindful of some significant risks that the world’s most valuable company faces – some of which became all the more apparent as it unveiled the iPhone 15.
3 Key Risks Apple Investors Should Watch Out For
Apple has a diversified revenue model, and along with product sales, it generates revenues from the high-margin services business. However, iPhone revenue still accounts for about half of the company’s sales.
www.barchart.com
The company relies on “switchers” who migrate from other platforms like Android – as well as “upgraders” who upgrade from an earlier iPhone model - to support revenue growth. As such, Apple needs to come up with an exciting product every year to entice the upgraders to shell out more money to buy the latest iPhone.
However, over the years, the newer iPhone versions have largely featured incremental changes. As Ben Wood from CCS Insight told the BBC, “It reflects just how refined the iPhone and Watch devices are and how tough it has become to deliver truly disruptive updates every year."
To be sure, Apple has a long history of coming up with innovative products. However, there is always the risk of a new iPhone iteration failing to entice buyers - which could then apply pressure to the company's earnings.
1. Antitrust Issues are a Risk for Tech Majors
Like its fellow Big Tech peers, Apple also faces antitrust issues – especially in the European Union (EU). The company pivoted to a USB-C charger in the iPhone 15 in an apparent bid to meet EU requirements. The BBC article probably best sums up the dilemma for Apple by saying the company was “forced to ditch” the Lightning charger to make way for the universal USB-C charger.
Incidentally, Apple is also preparing to allow EU users to install third-party app stores on their iPhones as it strives to comply with the region’s Digital Markets Act. Antitrust issues remain among the most potent risks for tech majors, and they're among the reasons Amazon (AMZN) stock has underperformed its peers over the last couple of years.
On a related note, X (formerly Twitter) offered a 37.5% discount to Blue subscribers if they bought a monthly subscription on the web instead of app stores. While not many app developers would have the wherewithal to take on Apple and Alphabet (GOOG), a vocal minority has been speaking out against the hefty fees that these companies charge. While App Store fees are a source of handsome recurring revenues for Apple, it's a massive hit for app developers' revenues.
2. U.S-China Tensions Are a Risk for Apple
Given the geopolitical situation, U.S.-China tensions are only expected to increase in the coming years. Apple and Nike (NKE) are among the most popular U.S. brands in the world’s second-largest economy, and China accounted for about a fifth of Apple’s revenues in the fiscal year 2022.
www.barchart.com
Rising U.S.-China tensions are among the major risks for Apple, which was quite evident earlier this month when Apple shares sold off on reports of China banning state employees from using iPhones. While China has now clarified that it did not ban iPhones, it kept a sword hanging over the company by referencing “security incidents related to Apple's phones.”
The communist nation is usually quite sensitive about data, and forced ride-hailing company Didi to delist from U.S. markets within months of its IPO. On a related note, the country even barred Tesla (TSLA) cars from military complexes, apparently over spying concerns.
3. Apple’s Supply-Chain Reliance on China
Apple’s supply chain is reliant on China, just like many other U.S. companies. The COVID-19 pandemic and China’s zero-COVID policy highlighted the risk of over-relying on one country – no matter how cost-efficient it is to source from there.
Apple has begun diversifying its supply chain, and has increased sourcing from Vietnam and India, but the transition has been slow. The company might need to strike a fine balance - it cannot shift supplies from China easily, given the country’s manufacturing ecosystem as well as the repercussions that ditching China might have on its business in the country.
Another risk that Apple faces is from Chinese smartphone companies. Huawei’s Mate 60 Pro is already being dubbed the “Chinese iPhone 15.” As Apple faces increased competition in China, growing U.S.-China tensions might simultaneously hurt the brand’s perception in that country.
Sales of smartphones have already been tepid amid the global macroeconomic slowdown, and even as iPhone sales have held up relatively well, the company is also not immune from the slowdown.
Overall, while Apple still looks like a good buy for long-term investors given its ever-increasing installed base of devices, its rich valuations don’t make it a compelling short-term buy.
On the date of publication, Mohit Oberoi had a position in: AAPL , AMZN , NKE , GOOGL . 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) unveiled its iPhone 15 yesterday, in what’s been an annual ritual for the company for many years now. On the date of publication, Mohit Oberoi had a position in: AAPL , AMZN , NKE , GOOGL . As Ben Wood from CCS Insight told the BBC, “It reflects just how refined the iPhone and Watch devices are and how tough it has become to deliver truly disruptive updates every year."
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Apple (AAPL) unveiled its iPhone 15 yesterday, in what’s been an annual ritual for the company for many years now. On the date of publication, Mohit Oberoi had a position in: AAPL , AMZN , NKE , GOOGL . 3 Key Risks Apple Investors Should Watch Out For Apple has a diversified revenue model, and along with product sales, it generates revenues from the high-margin services business.
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Apple (AAPL) unveiled its iPhone 15 yesterday, in what’s been an annual ritual for the company for many years now. On the date of publication, Mohit Oberoi had a position in: AAPL , AMZN , NKE , GOOGL . Apple and Nike (NKE) are among the most popular U.S. brands in the world’s second-largest economy, and China accounted for about a fifth of Apple’s revenues in the fiscal year 2022. www.barchart.com Rising U.S.-China tensions are among the major risks for Apple, which was quite evident earlier this month when Apple shares sold off on reports of China banning state employees from using iPhones.
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Apple (AAPL) unveiled its iPhone 15 yesterday, in what’s been an annual ritual for the company for many years now. On the date of publication, Mohit Oberoi had a position in: AAPL , AMZN , NKE , GOOGL . While App Store fees are a source of handsome recurring revenues for Apple, it's a massive hit for app developers' revenues.
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13717.0
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2023-09-13 00:00:00 UTC
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Alphabet's (GOOGL) Google Updates Apps on Android Tablets
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AAPL
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https://www.nasdaq.com/articles/alphabets-googl-google-updates-apps-on-android-tablets
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nan
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nan
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Alphabet’s GOOGL Google has updated over 20 first-party apps for large screens in a bid to deliver an enhanced experience for Android tablet users.
The updates boast features like dual-column User Interface for apps like Google Files, Play Store and Google Contacts, to name a few, offering a leveraged view of the customers’ search results.
Further, Google updated a Navigation rail feature for Google Drive, which provides four tabs with an additional FAB tab for creating new files/folders, offering customers a Desktop experience on their tablet.
Further, the sidebar for Google Weather, with a 10-day high/low and weather conditions forecast, is an added feature update.
The latest move is expected to boost the quality of Google’s first-party apps. This, in turn, is likely to bolster the download rate of these apps.
Further, the move will enhance the Android experience of tablet users. This is likely to add to the popularity of Android, as well as accelerate its adoption rate.
Thus, this is expected to benefit the Google Services segment of Alphabet.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Stiff Competition
Google’s Android app update for tablet users is likely to aid its competitive position against its peers like Apple AAPL and Microsoft MSFT, which are also leaving no stone unturned to provide enhanced customer experience to tablet users.
Notably, Apple, which is set to release iPadOS 17, boasts new features from iOS 17, and other updated features including tablet-specific enhancements, interactive widgets, a revamped lock screen experience and new apps.
Meanwhile, Microsoft is set to release the newest version of its Surface Go series, Surface Go 4, featuring an upgraded Intel Core i3-10100Y chip, aimed at commercial customers, with a more repairable internal layout and replaceable components.
Growing Efforts to Boost Google Services
The latest move bodes well for the company’s increasing efforts to bolster the Google Services segment, which accounts for Alphabet’s majority of total revenues and is clearly visible from Google’s recent update initiative.
Apart from this, Google recently added a text-formatting feature to its note-taking app Google Keep, allowing users to format bold, italicized and underlined text and split thoughts into sections, with a few new buttons for more customization.
Further, Google added 25 more free channels to Google TV, including shows like Top Gear, Baywatch, music channels and several game shows. This helps the company cater well to the rising demand for free streaming services.
All the abovementioned endeavors are expected to continue aiding the performance of the Google Services segment.
In second-quarter 2023, Google Services’ revenues increased 5.5% year over year to $66.3 billion, accounting for 88.8% of total revenues.
Our model projects Google Services revenues for 2023 at $267.05 billion, indicating growth of 5.3% from 2022.
we believe momentum in the underlined segment will likely aid its overall financial performance. This, in turn, will likely instill investor optimism in the stock.
Our model estimate for 2023 total revenues stands at $300.45 billion, indicating year-over-year growth of 6.2%.
Alphabet has gained 53.4% on a year-to-date basis compared with the industry’s growth of 52.1%.
Zacks Rank & Stock to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is Adobe ADBE, which carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Adobe have gained 61.1% in the year-to-date period. ADBE’s long-term earnings growth rate is projected at 13.27%
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Adobe Inc. (ADBE) : 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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Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Stiff Competition Google’s Android app update for tablet users is likely to aid its competitive position against its peers like Apple AAPL and Microsoft MSFT, which are also leaving no stone unturned to provide enhanced customer experience to tablet users. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. All the abovementioned endeavors are expected to continue aiding the performance of the Google Services segment.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Stiff Competition Google’s Android app update for tablet users is likely to aid its competitive position against its peers like Apple AAPL and Microsoft MSFT, which are also leaving no stone unturned to provide enhanced customer experience to tablet users. In second-quarter 2023, Google Services’ revenues increased 5.5% year over year to $66.3 billion, accounting for 88.8% of total revenues.
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Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Stiff Competition Google’s Android app update for tablet users is likely to aid its competitive position against its peers like Apple AAPL and Microsoft MSFT, which are also leaving no stone unturned to provide enhanced customer experience to tablet users. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Growing Efforts to Boost Google Services The latest move bodes well for the company’s increasing efforts to bolster the Google Services segment, which accounts for Alphabet’s majority of total revenues and is clearly visible from Google’s recent update initiative.
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Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Stiff Competition Google’s Android app update for tablet users is likely to aid its competitive position against its peers like Apple AAPL and Microsoft MSFT, which are also leaving no stone unturned to provide enhanced customer experience to tablet users. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Adobe Inc. (ADBE) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. The updates boast features like dual-column User Interface for apps like Google Files, Play Store and Google Contacts, to name a few, offering a leveraged view of the customers’ search results.
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13718.0
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2023-09-13 00:00:00 UTC
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Stocks Slightly Higher after Mixed U.S. CPI Report
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AAPL
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https://www.nasdaq.com/articles/stocks-slightly-higher-after-mixed-u.s.-cpi-report
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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 +0.23%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.41%.
Stock indexes this morning are slightly higher. Stocks are posting modest gains today after a mixed U.S. consumer price report. U.S. consumer prices in August increased to +3.7% y/y from +3.2% y/y in July, stronger than expectations of +3.6% y/y. However, stocks found support after Aug core CPI eased to +4.3% y/y from +4.7% y/y in July, right on expectations and the smallest increase in almost two years.
Gains in U.S. stock index futures are limited by negative carryover from a slide in European stocks as the 10-year German bund yield jumped to a 3-week high after Reuters reported that the ECB's new economic estimates due to be released Thursday will show a Eurozone inflation forecast for 2024 above 3%, bolstering the case for the ECB to raise interest rates at Thursday’s policy meeting.
The markets are discounting the odds at 3% for a +25 bp rate hike at the September 20 FOMC meeting and 42% for that +25 bp rate hike at the November 1 FOMC meeting.
Global bond yields are mixed. The 10-year T-note yield fell from a 3-week high of 4.342% and is down -0.2 bp at 4.278%. The 10-year German bund yield rose to a 3-week high of 2.690% and is up +1.5 bp at 2.658%. The 10-year UK gilt yield fell to a 1-1/2 week low of 4.345% and is down -6.1 bp at 4.355%.
Overseas stock markets are lower. The Euro Stoxx 50 is down -0.40%. China’s Shanghai Composite Index closed -0.45%. Japan’s Nikkei Stock Index closed -0.21%.
Today’s stock movers…
Moderna (MRNA) is up more than +6% to lead gainers in the S&P 500 and Nasdaq 100 after it said a reformulated version of its messenger-RNA-based flu shot met its primary goals in a final-stage trial, paving the way for it to seek FDA approval for the vaccine.
Westrock (WRK) is up more than +2%, adding to Tuesday’s +2% gain after Smurfit Kappa Group Plc agreed to acquire the company in a $11.2 billion deal.
Ford Motor (F) is up more than +2% after UBS double-upgraded the stock to buy from sell with a price target of $15.
General Motors (GM) is up nearly +1% after UBS upgraded the stock to buy from neutral with a price target of $44.
Morgan Stanley (MS) is up more than +2%, adding to Tuesday’s +2% gain after investment manager Simkowitz said, “We are more confident now than any time this year about an improved outlook for 2024.”
Airline stocks are under pressure after American Airlines Group cut its guidance for Q3 adjusted EPS to 20-30 cents from a previous estimate of 85-95 cents, well below the consensus of 65 cents. As a result, American Airlines Group (AAL) is down more than -4% to lead losers in the S&P 500. Also, Delta Air Lines (DAL), United Airlines Holdings (UAL), and Southwest Airlines (LUV) are down more than -2%.
Regional bank stocks are retreating today on comments from Zions Bancorp CEO Simmons, who said they are seeing a slowdown in loan demand. As a result, Zions Bancorp (ZION) and U.S. Bancorp (USB) are down more than -4%. Also, Comerica (CMA) Truist Financial (TFC) are down more than -2%. In addition, M&T Bank (MTB), Citizens Financial Group (CFG), Regions Financial (RF), Huntington Bancshares (HBAN), and KeyCorp (KEY) are down more than -1%.
Applied Optoelectronics (AAOI) is down more than -19% after it terminated its agreement to sell manufacturing facilities in China to Yuhan Optoelectronic Technology.
Verizon Communications (VZ) is down more than -1% after Bloomberg Intelligence said T-Mobile may continue to gain market share from Verizon as it deploys the nationwide mid-band spectrum acquired from Sprint.
Apple (AAPL) is down nearly -1% after China flagged “security incidents” with Apple’s iPhones, the government’s first comments after news reports that it was restricting the use of Apple products in sensitive departments and state-owned companies.
Across the markets…
December 10-year T-notes (ZNZ23) today are up +2 ticks, and the 10-year T-note yield is down -0.2 bp at 4.278%. Dec T-note prices today recovered from a 3-week low and moved higher, and the 10-year T-note yield fell back from a 3-week high of 4.342% and moved lower. T-notes found support today after U.S. Aug core CPI eased to +4.3% y/y from +4.7% y/y in July, right on expectations and the slowest pace of increase in almost two years. T-notes initially fell today on negative carryover from a slump in 10-year German bunds to a 3-week low. Also, the stronger-than-expected U.S. Aug CPI was bearish for T-notes. In addition, supply pressures are weighing on T-notes as the Treasury will auction $20 billion of re-opened 30-year T-bonds later today as part of this week’s $99 billion package of T-note and T-bond auctions.
The dollar index (DXY00) today is down by -0.11%. The dollar today is posting modest losses. Strength in stocks today has curbed the liquidity demand for the dollar. Also, T-note yields today gave up an early advance and turned lower, weighing in the dollar.
EUR/USD (^EURUSD) is down by -0.09%. Weaker-than-expected Eurozone economic news today weighed on the euro after Eurozone Jul industrial production fell more than expected. Losses in the euro were limited after the odds for a 25 bp rate hike by the ECB on Thursday rose to 64% from 46% on Tuesday after Reuters reported the ECB’s inflation projections, to be released Thursday, will remain above 3% for 2024, bolstering the cast for more hawkish ECB policy.
Eurozone Jul industrial production fell -1.1% m/m, weaker than expectations of -0.9% m/m and the biggest decline in 4 months.
Reuters reported that the ECB's new economic estimates, due to be released Thursday, will show a Eurozone inflation forecast for 2024 above 3%.
USD/JPY (^USDJPY) is up +0.24%. The yen today is moderately lower. Central bank divergence is weighing on the yen, with the ECB and Federal Reserve currently raising interest rates while the BOJ maintains record-low interest rates.
Today’s Japanese economic news was mixed for the yen. On the negative side, Japan's Aug PPI eased to +3.2% y/y from +3.4% y/y in July, better than expectations of +3.3% y/y and dovish for BOJ policy. Conversely, the Q3 BSI large manufacturing business conditions rose +5.8 to 5.4, the highest since Q4 of 2021.
October gold (GCV3) today is down -0.1 (-0.01%), and Dec silver (SIZ23) is down -0.247 (-1.06%). Precious metals prices this morning are moderately lower, with gold falling to a 3-week low and silver dropping to a 3-1/2 week low. Increased expectations for a 25 bp rate hike by the ECB Thursday are undercutting precious metals as the odds for an ECB rate hike rose to 66% today from 46% Tuesday after Reuters reported the ECB’s new economic projections will show inflation remaining above 3% in 2024, bolstering the case for tighter ECB policy.
Also, the continued liquidation of gold holdings by funds is bearish for gold after long gold holdings in ETFs fell to a 3-1/3 year low Tuesday. A weaker dollar today is limiting losses in metals prices. Also, an increase in inflation expectations boosted demand for precious metals as an inflation hedge after the U.S. 10-year breakeven inflation rate climbed to a 4-week high today of 2.371%.
More Stock Market News from Barchart
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Will SoFi Technologies (SOFI) Pass Its IPO Underwriter Test? Here’s What Options Traders Say.
Markets Today: Stock Index Futures Slip as Mixed U.S. CPI Report Keeps Fed Rate Hikes in Play
3 Professional Services Companies Ready to Pop
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 down nearly -1% after China flagged “security incidents” with Apple’s iPhones, the government’s first comments after news reports that it was restricting the use of Apple products in sensitive departments and state-owned companies. Gains in U.S. stock index futures are limited by negative carryover from a slide in European stocks as the 10-year German bund yield jumped to a 3-week high after Reuters reported that the ECB's new economic estimates due to be released Thursday will show a Eurozone inflation forecast for 2024 above 3%, bolstering the case for the ECB to raise interest rates at Thursday’s policy meeting. Today’s stock movers… Moderna (MRNA) is up more than +6% to lead gainers in the S&P 500 and Nasdaq 100 after it said a reformulated version of its messenger-RNA-based flu shot met its primary goals in a final-stage trial, paving the way for it to seek FDA approval for the vaccine.
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Apple (AAPL) is down nearly -1% after China flagged “security incidents” with Apple’s iPhones, the government’s first comments after news reports that it was restricting the use of Apple products in sensitive departments and state-owned companies. Gains in U.S. stock index futures are limited by negative carryover from a slide in European stocks as the 10-year German bund yield jumped to a 3-week high after Reuters reported that the ECB's new economic estimates due to be released Thursday will show a Eurozone inflation forecast for 2024 above 3%, bolstering the case for the ECB to raise interest rates at Thursday’s policy meeting. Losses in the euro were limited after the odds for a 25 bp rate hike by the ECB on Thursday rose to 64% from 46% on Tuesday after Reuters reported the ECB’s inflation projections, to be released Thursday, will remain above 3% for 2024, bolstering the cast for more hawkish ECB policy.
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Apple (AAPL) is down nearly -1% after China flagged “security incidents” with Apple’s iPhones, the government’s first comments after news reports that it was restricting the use of Apple products in sensitive departments and state-owned companies. Gains in U.S. stock index futures are limited by negative carryover from a slide in European stocks as the 10-year German bund yield jumped to a 3-week high after Reuters reported that the ECB's new economic estimates due to be released Thursday will show a Eurozone inflation forecast for 2024 above 3%, bolstering the case for the ECB to raise interest rates at Thursday’s policy meeting. Losses in the euro were limited after the odds for a 25 bp rate hike by the ECB on Thursday rose to 64% from 46% on Tuesday after Reuters reported the ECB’s inflation projections, to be released Thursday, will remain above 3% for 2024, bolstering the cast for more hawkish ECB policy.
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Apple (AAPL) is down nearly -1% after China flagged “security incidents” with Apple’s iPhones, the government’s first comments after news reports that it was restricting the use of Apple products in sensitive departments and state-owned companies. Stocks are posting modest gains today after a mixed U.S. consumer price report. The 10-year German bund yield rose to a 3-week high of 2.690% and is up +1.5 bp at 2.658%.
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13719.0
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2023-09-13 00:00:00 UTC
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Apple ETFs in Focus Post iPhone 15 Launch
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AAPL
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https://www.nasdaq.com/articles/apple-etfs-in-focus-post-iphone-15-launch
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nan
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nan
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At its annual California launch event, Apple AAPL revealed a suite of devices, catching the eye of its vast consumer base and the global tech community. The event took an unexpected turn in terms of pricing, with Apple maintaining its price range for most products, the notable exception being iPhone Max.
The event came just a few days after China imposed a ban on government officials using iPhones at work, leading to a sharp drop in Apple's market value by almost $200 billion. While Chinese pressure on Apple is a concern, it is expected to have a limited impact (read: What Lies Ahead for Apple ETFs After iPhone Use Ban?).
Given this, ETFs having the largest allocation to the tech giant are in focus. Technology Select Sector SPDR Fund XLK, Vanguard Information Technology ETF VGT, MSCI Information Technology Index ETF FTEC, iShares US Technology ETF IYW and Invesco QQQ (QQQ) have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Insights Into the Features of the New Devices
iPhone 15 Series: Apple introduced its latest range of smartphones, including iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max. The new set of iPhones is available in pink, yellow, green, blue, and black color options with 6.1 and 6.7-inch displays. The standout feature of this series is the shift to USB-C charging ports, adhering to new European Union regulations aimed at reducing e-waste. The revamped AirPods Pro will also sport this USB-C port.
iPhone 15 features a Super Retina XDR display and A16 Bionic chip, while iPhone 15 Pro introduces titanium construction and an A17 Pro chip. iPhone 15 starts at $799, with the iPhone 15 Plus slightly pricier at $899. For those seeking premium features, iPhone 15 Pro and Pro Max are priced at $999 and $1,199, respectively. Customers can start preordering from Sep 15, with the official release slated for Sep 22 (see:all the Technology ETFs here).
Apple Watch Innovations: The Apple Watch family saw new additions, including the Apple Watch Series 9 and the upscale Apple Watch Ultra 2. Both are available for pre-order now. While Apple Watch SE is available at a competitive rate of $249, Series 9 is priced at $399. Ultra 2 starts at $799.
The Apple Watch Series 9 boasts significant improvements, featuring the new S9 chip that Apple claims is 60% faster, coupled with a 30% faster GPU. Notably, new features include health data access with Siri, Name Drop for sharing information with nearby users, and Double Tap for watch control. In a move toward sustainability, Apple declared the Apple Watch Series 9 as its pioneer carbon-neutral product, showcasing the company’s commitment to the environment.
ETFs in Focus
Technology Select Sector SPDR Fund (XLK)
Technology Select Sector SPDR Fund targets the broad technology sector and follows the Technology Select Sector Index. It holds about 65 securities in its basket, with Apple making up 21.8% share. Technology Select Sector SPDR Fund is the most popular and heavily traded ETF, with AUM of $50.3 billion and an average daily volume of 6 million shares. The fund charges 10 bps in fees per year.
Vanguard Information Technology ETF (VGT)
Vanguard Information Technology ETF manages about $52.5 billion in its asset base and provides exposure to 323 technology stocks. It currently tracks the MSCI US Investable Market Information Technology 25/50 Index. Here, Apple accounts for a 22.7% share. Vanguard Information Technology ETF has an expense ratio of 0.10%, while volume is solid at nearly 541,000 shares (read: Don't Fear Higher Rates: Tech ETFs to Rule on Nvidia & Allies).
MSCI Information Technology Index ETF (FTEC)
MSCI Information Technology Index ETF is home to 311 technology stocks with AUM of $7.2 billion. It follows the MSCI USA IMI Information Technology Index. Apple accounts for a 22.3% allocation. MSCI Information Technology Index ETF has an expense ratio of 0.08%, while volume is solid at 226,000 shares a day.
iShares US Technology ETF (IYW)
iShares Dow Jones US Technology ETF tracks the Russell 1000 Technology RIC 22.5/45 Capped Index, giving investors exposure to 135 U.S. electronics, computer software and hardware, and informational technology companies. Apple makes up 17.5% of the assets. iShares Dow Jones US Technology ETF has AUM of $11.2 billion and charges 40 bps in fees and expenses. Volume is good as it exchanges 912,000 shares a day.
Invesco QQQ (QQQ)
Invesco QQQ provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Apple accounts for a 10.8% share. Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $201.6 billion and an average daily volume of 46 million shares. It charges investors 20 bps in annual fees.
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Apple Inc. (AAPL) : Free Stock Analysis Report
Technology Select Sector SPDR ETF (XLK): ETF Research Reports
Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports
iShares U.S. Technology ETF (IYW): 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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At its annual California launch event, Apple AAPL revealed a suite of devices, catching the eye of its vast consumer base and the global tech community. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports iShares U.S. Technology ETF (IYW): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. Notably, new features include health data access with Siri, Name Drop for sharing information with nearby users, and Double Tap for watch control.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports iShares U.S. Technology ETF (IYW): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. At its annual California launch event, Apple AAPL revealed a suite of devices, catching the eye of its vast consumer base and the global tech community. Technology Select Sector SPDR Fund XLK, Vanguard Information Technology ETF VGT, MSCI Information Technology Index ETF FTEC, iShares US Technology ETF IYW and Invesco QQQ (QQQ) have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #1 (Strong Buy) or 2 (Buy).
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports iShares U.S. Technology ETF (IYW): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. At its annual California launch event, Apple AAPL revealed a suite of devices, catching the eye of its vast consumer base and the global tech community. Technology Select Sector SPDR Fund XLK, Vanguard Information Technology ETF VGT, MSCI Information Technology Index ETF FTEC, iShares US Technology ETF IYW and Invesco QQQ (QQQ) have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #1 (Strong Buy) or 2 (Buy).
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At its annual California launch event, Apple AAPL revealed a suite of devices, catching the eye of its vast consumer base and the global tech community. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Fidelity MSCI Information Technology Index ETF (FTEC): ETF Research Reports iShares U.S. Technology ETF (IYW): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. Technology Select Sector SPDR Fund XLK, Vanguard Information Technology ETF VGT, MSCI Information Technology Index ETF FTEC, iShares US Technology ETF IYW and Invesco QQQ (QQQ) have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #1 (Strong Buy) or 2 (Buy).
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13720.0
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2023-09-13 00:00:00 UTC
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SPY, BITI: Big ETF Inflows
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AAPL
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https://www.nasdaq.com/articles/spy-biti%3A-big-etf-inflows
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nan
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nan
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Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the SPDR S&P 500 ETF Trust, which added 15,350,000 units, or a 1.7% increase week over week. Among the largest underlying components of SPY, in morning trading today Apple is off about 0.6%, and Microsoft is up by about 0.5%.
And on a percentage change basis, the ETF with the biggest increase in inflows was the ProShares 404, which added 1,110,000 units, for a 35.8% increase in outstanding units.
VIDEO: SPY, BITI: Big ETF Inflows
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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Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the SPDR S&P 500 ETF Trust, which added 15,350,000 units, or a 1.7% increase week over week. Among the largest underlying components of SPY, in morning trading today Apple is off about 0.6%, and Microsoft is up by about 0.5%. VIDEO: SPY, BITI: Big ETF Inflows 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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Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the SPDR S&P 500 ETF Trust, which added 15,350,000 units, or a 1.7% increase week over week. And on a percentage change basis, the ETF with the biggest increase in inflows was the ProShares 404, which added 1,110,000 units, for a 35.8% increase in outstanding units. VIDEO: SPY, BITI: Big ETF Inflows 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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Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the SPDR S&P 500 ETF Trust, which added 15,350,000 units, or a 1.7% increase week over week. And on a percentage change basis, the ETF with the biggest increase in inflows was the ProShares 404, which added 1,110,000 units, for a 35.8% increase in outstanding units. VIDEO: SPY, BITI: Big ETF Inflows 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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Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the SPDR S&P 500 ETF Trust, which added 15,350,000 units, or a 1.7% increase week over week. Among the largest underlying components of SPY, in morning trading today Apple is off about 0.6%, and Microsoft is up by about 0.5%. And on a percentage change basis, the ETF with the biggest increase in inflows was the ProShares 404, which added 1,110,000 units, for a 35.8% increase in outstanding units.
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13721.0
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2023-09-13 00:00:00 UTC
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EXPLAINER-Why has France banned sales of Apple's iPhone 12?
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AAPL
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https://www.nasdaq.com/articles/explainer-why-has-france-banned-sales-of-apples-iphone-12
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nan
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nan
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By Jennifer Rigby and Martin Coulter
LONDON, Sept 13 (Reuters) - France's radiation watchdog has banned sales of Apple's AAPL.O iPhone 12 after tests that it said showed the smartphone breached European radiation exposure limits.
The Agence Nationale des Fréquences (ANFR) said on Tuesday the model's Specific Absorption Rate (SAR) - a measure of the rate of radiofrequency energy absorbed by the body from a piece of equipment - was higher than legally allowed.
Jean-Noel Barrot, France's junior minister for the digital economy, told newspaper Le Parisien a software update could fix the problem. If Apple does not resolve the issue, the ANFR said it would order a recall of the device across France.
Apple disputes the watchdog's conclusions, saying the iPhone 12 was certified by multiple international bodies as compliant with global radiation standards.
WHAT IS SAR?
"Standard Absorption Rate" refers to the dose of energy that the body absorbs from any source of radiation. It is expressed as watts per kilogram of body weight.
The radiation from mobile phones is a result of the way they work, by transmitting radiofrequency waves, creating electromagnetic fields. Unlike the radiation from X-rays or gamma rays – caused by radioactive decay – phones cannot break chemical bonds or cause changes to cells in the human body, a process which can ultimately cause harm like cancer.
HOW DANGEROUS IS IT?
The main issue caused by a phone's "non-ionizing" type of radiation is the heating up of body tissue. Above set limits, and depending on the duration of exposure, this can lead to health effects such as burns or heat stroke, according to the International Commission on Non-Ionizing Radiation Protection (ICNIRP), a body which sets guidelines for the limits globally.
The ANFR said accredited labs had found an SAR of 5.74 watts per kilogram during tests of the iPhone 12 being held in the hand or kept in a trouser pocket. The EU standard is 4.0 watts per kilogram. However, this represents no risk to human health, the chair of ICNIRP, Professor Rodney Croft, said.
The World Health Organization (WHO) and other international health bodies say there is no definitive evidence that radiation from mobile phones causes other adverse health effects. However, it has called for more research.
In 2011, the International Agency for Research on Cancer (IARC) classed the radiation from mobile phones as "possibly carcinogenic", or class 2B. This designation is used when the agency cannot rule out a potential link.
The agency said there was "limited" evidence of an increased risk of brain tumours in some, but not all, of the research available - and particularly for "heavy users" - but it could not rule out bias or errors in the data, meaning no definitive conclusions could be drawn.
HOW HAS APPLE RESPONDED?
The ANFR has said a software update should be sufficient to fix the issue.
In simple terms, this is because the software - the apps, programmes and other operating information running on a device - affects how the hardware (the device) works. So a software update should be enough to reduce iPhone 12 users' SAR exposure.
However, Apple has rejected the agency's findings. The company said it had provided ANFR with multiple Apple and independent third-party lab results proving its compliance with all applicable SAR regulations and standards in the world.
Apple said it would contest the results of ANFR's review and would continue to engage with the agency to show it is compliant.
ARE THERE MORE BANS TO COME?
The ANFR said the iPhone 12 had failed to meet European Union standards, raising questions over whether more sales bans could be coming elsewhere.
While it remains unclear if other authorities are investigating, Germany's Federal Office for Radiation Protection said on Wednesday "the question of the need for change is currently the subject of discussions".
(Reporting by Martin Coulter Editing by Mark Potter)
((martin.coulter@thomsonreuters.com; Follow me on Twitter @martinjbcoulter; +447436546182;))
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 Jennifer Rigby and Martin Coulter LONDON, Sept 13 (Reuters) - France's radiation watchdog has banned sales of Apple's AAPL.O iPhone 12 after tests that it said showed the smartphone breached European radiation exposure limits. Jean-Noel Barrot, France's junior minister for the digital economy, told newspaper Le Parisien a software update could fix the problem. The agency said there was "limited" evidence of an increased risk of brain tumours in some, but not all, of the research available - and particularly for "heavy users" - but it could not rule out bias or errors in the data, meaning no definitive conclusions could be drawn.
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By Jennifer Rigby and Martin Coulter LONDON, Sept 13 (Reuters) - France's radiation watchdog has banned sales of Apple's AAPL.O iPhone 12 after tests that it said showed the smartphone breached European radiation exposure limits. Apple disputes the watchdog's conclusions, saying the iPhone 12 was certified by multiple international bodies as compliant with global radiation standards. The World Health Organization (WHO) and other international health bodies say there is no definitive evidence that radiation from mobile phones causes other adverse health effects.
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By Jennifer Rigby and Martin Coulter LONDON, Sept 13 (Reuters) - France's radiation watchdog has banned sales of Apple's AAPL.O iPhone 12 after tests that it said showed the smartphone breached European radiation exposure limits. Above set limits, and depending on the duration of exposure, this can lead to health effects such as burns or heat stroke, according to the International Commission on Non-Ionizing Radiation Protection (ICNIRP), a body which sets guidelines for the limits globally. The World Health Organization (WHO) and other international health bodies say there is no definitive evidence that radiation from mobile phones causes other adverse health effects.
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By Jennifer Rigby and Martin Coulter LONDON, Sept 13 (Reuters) - France's radiation watchdog has banned sales of Apple's AAPL.O iPhone 12 after tests that it said showed the smartphone breached European radiation exposure limits. Above set limits, and depending on the duration of exposure, this can lead to health effects such as burns or heat stroke, according to the International Commission on Non-Ionizing Radiation Protection (ICNIRP), a body which sets guidelines for the limits globally. The ANFR said accredited labs had found an SAR of 5.74 watts per kilogram during tests of the iPhone 12 being held in the hand or kept in a trouser pocket.
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13722.0
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2023-09-13 00:00:00 UTC
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Concerning News for Apple Stock Investors
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AAPL
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https://www.nasdaq.com/articles/concerning-news-for-apple-stock-investors
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nan
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nan
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In this video, I will talk about recent announcements by Apple (NASDAQ: AAPL) and explain why Apple stock is very expensive compared to its 10-year average, especially as the company's growth is slowing down. Investors might want to look elsewhere, despite Apple's incredible buyback record.
*Stock prices used were from the trading day of Sept. 12, 2023. The video was published on Sept. 13, 2023.
10 stocks we like better than Apple
When our analyst team has a stock 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 Apple 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 11, 2023
Neil Rozenbaum 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. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his 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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In this video, I will talk about recent announcements by Apple (NASDAQ: AAPL) and explain why Apple stock is very expensive compared to its 10-year average, especially as the company's growth is slowing down. 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 Apple wasn't one of them!
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In this video, I will talk about recent announcements by Apple (NASDAQ: AAPL) and explain why Apple stock is very expensive compared to its 10-year average, especially as the company's growth is slowing down. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of September 11, 2023 Neil Rozenbaum has no position in any of the stocks mentioned.
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In this video, I will talk about recent announcements by Apple (NASDAQ: AAPL) and explain why Apple stock is very expensive compared to its 10-year average, especially as the company's growth is slowing down. 10 stocks we like better than Apple When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of September 11, 2023 Neil Rozenbaum has no position in any of the stocks mentioned.
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In this video, I will talk about recent announcements by Apple (NASDAQ: AAPL) and explain why Apple stock is very expensive compared to its 10-year average, especially as the company's growth is slowing down. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Apple wasn't one of them! The Motley Fool has positions in and recommends Apple.
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13723.0
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2023-09-13 00:00:00 UTC
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US presses on with fight against Google's search and advertising clout
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AAPL
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https://www.nasdaq.com/articles/us-presses-on-with-fight-against-googles-search-and-advertising-clout
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nan
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nan
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WASHINGTON, Sept 13 (Reuters) - The Justice Department began questioning a former Google executive about billion-dollar deals with mobile carriers and others that helped keep Google the default search engine, as the second day of a once-in-a-generation antitrust trial got underway on Wednesday.
Chris Barton, who was at Google from 2004 to 2011, said that the company was quick to see the advantage of people using Google search on Palm devices and early versions of smartphones. "As we recognized the opportunity for search on mobile phones we began to build a product team," he said.
Barton said on his LinkedIn profile that he was responsible for leading Google's partnerships with mobile carriers like Verizon and AT&T, estimating that the deals "drive hundreds of millions in revenue. That probably explains why I was deposed by the DOJ (Justice Department) in 2021."
The government says Alphabet's Google GOOGL.O paid $10 billion annually to wireless companies like AT&T T.N, device makers like Apple AAPL.O and browser makers like Mozilla to fend off rivals and keep its search engine's market share at around 90%. The Justice Department's Kenneth Dintzer said the trial was about "the future of the internet."
Dintzer also said that Google manipulated auctions for internet ads in order to raise prices for advertisers. Since search is free, Google makes its money via advertising.
Google attorney John Schmidtlein said in opening arguments on Tuesday that the government was wrong to say the $1 trillion company broke the law to hold onto its massive market share, noting its search engine was wildly popular because of its quality and that the payments were fair compensation for partners.
The fight has major implications for Big Tech, which has been accused of buying or strangling small rivals but has defended itself by pointing out that its services are free, as in the case of Google, or inexpensive, as in the case of Amazon.com AMZN.O.
Previous major antitrust trials include Microsoft, filed in 1998, and AT&T, filed in 1974. The AT&T breakup in 1982 is credited with paving the way for the modern cell phone industry, while the fight with Microsoft is credited with opening space for Google and others on the internet.
The government's first witness Tuesday was Google economist Hal Varian, who was asked about discussions inside the company about the importance of scale and of Google becoming the default on home pages.
If Google is found to have broken the law, Judge Amit Mehta, who is deciding the case, will then decide how best to resolve it. He may decide simply to order Google to stop practices he has found to be illegal or he may order Google to sell assets.
EXPLAINER-Why is the US suing Google for antitrust violations?
UPDATE 6-Google argues quality kept its search on top, defends billions paid
Google's rivals get day in court as momentous US antitrust trial begins
UPDATE 2-US judge denies Google's motion to dismiss advertising antitrust case
(Reporting by Diane Bartz, Editing by 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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The government says Alphabet's Google GOOGL.O paid $10 billion annually to wireless companies like AT&T T.N, device makers like Apple AAPL.O and browser makers like Mozilla to fend off rivals and keep its search engine's market share at around 90%. Barton said on his LinkedIn profile that he was responsible for leading Google's partnerships with mobile carriers like Verizon and AT&T, estimating that the deals "drive hundreds of millions in revenue. Google attorney John Schmidtlein said in opening arguments on Tuesday that the government was wrong to say the $1 trillion company broke the law to hold onto its massive market share, noting its search engine was wildly popular because of its quality and that the payments were fair compensation for partners.
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The government says Alphabet's Google GOOGL.O paid $10 billion annually to wireless companies like AT&T T.N, device makers like Apple AAPL.O and browser makers like Mozilla to fend off rivals and keep its search engine's market share at around 90%. WASHINGTON, Sept 13 (Reuters) - The Justice Department began questioning a former Google executive about billion-dollar deals with mobile carriers and others that helped keep Google the default search engine, as the second day of a once-in-a-generation antitrust trial got underway on Wednesday. Previous major antitrust trials include Microsoft, filed in 1998, and AT&T, filed in 1974.
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The government says Alphabet's Google GOOGL.O paid $10 billion annually to wireless companies like AT&T T.N, device makers like Apple AAPL.O and browser makers like Mozilla to fend off rivals and keep its search engine's market share at around 90%. WASHINGTON, Sept 13 (Reuters) - The Justice Department began questioning a former Google executive about billion-dollar deals with mobile carriers and others that helped keep Google the default search engine, as the second day of a once-in-a-generation antitrust trial got underway on Wednesday. Chris Barton, who was at Google from 2004 to 2011, said that the company was quick to see the advantage of people using Google search on Palm devices and early versions of smartphones.
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The government says Alphabet's Google GOOGL.O paid $10 billion annually to wireless companies like AT&T T.N, device makers like Apple AAPL.O and browser makers like Mozilla to fend off rivals and keep its search engine's market share at around 90%. WASHINGTON, Sept 13 (Reuters) - The Justice Department began questioning a former Google executive about billion-dollar deals with mobile carriers and others that helped keep Google the default search engine, as the second day of a once-in-a-generation antitrust trial got underway on Wednesday. The Justice Department's Kenneth Dintzer said the trial was about "the future of the internet."
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13724.0
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2023-09-13 00:00:00 UTC
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US STOCKS-Wall St gains as mixed CPI data fuels rate-pause hopes
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-gains-as-mixed-cpi-data-fuels-rate-pause-hopes
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nan
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nan
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By Ankika Biswas and Shristi Achar A
Sept 13 (Reuters) - Wall Street's main indexes rose on Wednesday as data showing a moderate increase in consumer prices in August raised hopes the Federal Reserve could leave interest rates unchanged in its September policy meet.
Consumer price inflation rose in line with expectations on a monthly basis by 0.6% in August, compared with a 0.2% rise in July, but core inflation rose by a more-than-expected 0.3% last month.
On a yearly basis, the headline inflation rose marginally higher than expected at 3.7% in August compared with a 3.2% increase in July.
Gasoline prices accelerated in August, peaking at $3.984 per gallon in the third week of the month, according to data from the U.S. Energy Information Administration. That compared to $3.676 per gallon during the same period in July.
"Inflation is already contained so these monthly numbers are more noise than substantive," said Jay Hatfield, chief executive officer at Infrastructure Capital Management.
"It is really a reflection of the fact that there is a bleed through of energy prices to core and our models show the energy prices are likely to stay range bound, so we do think that inflation's contained."
Traders see a 97% chance of the Fed holding rates in September and a near 58% likelihood of a pause in November, according to the CME FedWatch Tool.
The Fed is likely to cut rates only from April-June next year, a Reuters poll showed.
Yield on the two-year Treasury note US2YT=RR, which best reflects short-term interest rate expectations, hovered around 4.9967%.
Major megacap growth stocks were mixed, with Tesla TSLA.O and Meta Platforms META.O up 1.9% and 1.2%, respectively, while Apple AAPL.O and Alphabet GOOGL.O lost 0.6% and 0.4%, respectively.
Investors will now shift focus to August producer prices and retail sales data on Thursday ahead of the Fed's Sept. 20 policy decision.
Ford F.N gained 2.6% on plans to double production of its hybrid F-150 pickup trucks in 2024.
The consumer discretionary sector .SPLRCD, which houses Ford, added 0.7%, to lead gains among major S&P 500 sectors.
At 9:47 a.m. ET, the Dow Jones Industrial Average .DJI was up 60.81 points, or 0.18%, at 34,706.80, the S&P 500 .SPX was up 7.02 points, or 0.16%, at 4,468.92, and the Nasdaq Composite .IXIC was up 27.41 points, or 0.20%, at 13,801.03.
U.S.-listed shares of Chinese electric-vehicle makers Li Auto LI.O, Nio NIO.N and Xpeng XPEV.N fell between 1.3% and 3.4% after the European Commission started an investigation on whether to impose tariffs on their vehicles.
Sprit AirlinesSAVE.N lost 1.6% as the low-cost carrier cut its third-quarter revenue outlook to reflect rising fuel prices.
ModernaMRNA.O gained 5.4% after the drugmaker said its flu vaccine mRNA-1010 met its primary goal in a late-stage trial. The firm also announced it was scaling down manufacturing of its COVID-19 vaccine.
Declining issues outnumbered advancers by a 1.17-to-1 ratio on the NYSE and by a 1.12-to-1 ratio on the Nasdaq.
The S&P index recorded four new 52-week highs and four new lows, while the Nasdaq recorded nine new highs and 58 new lows.
Rates and inflation Rates and inflation https://tmsnrt.rs/3U8HdD2
(Reporting by Ankika Biswas, Shristi Achar A and Shubham Batra in Bengaluru; Editing by Savio D'Souza and Vinay Dwivedi)
((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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Major megacap growth stocks were mixed, with Tesla TSLA.O and Meta Platforms META.O up 1.9% and 1.2%, respectively, while Apple AAPL.O and Alphabet GOOGL.O lost 0.6% and 0.4%, respectively. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - Wall Street's main indexes rose on Wednesday as data showing a moderate increase in consumer prices in August raised hopes the Federal Reserve could leave interest rates unchanged in its September policy meet. Investors will now shift focus to August producer prices and retail sales data on Thursday ahead of the Fed's Sept. 20 policy decision.
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Major megacap growth stocks were mixed, with Tesla TSLA.O and Meta Platforms META.O up 1.9% and 1.2%, respectively, while Apple AAPL.O and Alphabet GOOGL.O lost 0.6% and 0.4%, respectively. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - Wall Street's main indexes rose on Wednesday as data showing a moderate increase in consumer prices in August raised hopes the Federal Reserve could leave interest rates unchanged in its September policy meet. Consumer price inflation rose in line with expectations on a monthly basis by 0.6% in August, compared with a 0.2% rise in July, but core inflation rose by a more-than-expected 0.3% last month.
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Major megacap growth stocks were mixed, with Tesla TSLA.O and Meta Platforms META.O up 1.9% and 1.2%, respectively, while Apple AAPL.O and Alphabet GOOGL.O lost 0.6% and 0.4%, respectively. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - Wall Street's main indexes rose on Wednesday as data showing a moderate increase in consumer prices in August raised hopes the Federal Reserve could leave interest rates unchanged in its September policy meet. Consumer price inflation rose in line with expectations on a monthly basis by 0.6% in August, compared with a 0.2% rise in July, but core inflation rose by a more-than-expected 0.3% last month.
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Major megacap growth stocks were mixed, with Tesla TSLA.O and Meta Platforms META.O up 1.9% and 1.2%, respectively, while Apple AAPL.O and Alphabet GOOGL.O lost 0.6% and 0.4%, respectively. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - Wall Street's main indexes rose on Wednesday as data showing a moderate increase in consumer prices in August raised hopes the Federal Reserve could leave interest rates unchanged in its September policy meet. Consumer price inflation rose in line with expectations on a monthly basis by 0.6% in August, compared with a 0.2% rise in July, but core inflation rose by a more-than-expected 0.3% last month.
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13725.0
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2023-09-13 00:00:00 UTC
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Apple vs Huawei: a new smartphone battle divides China
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AAPL
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https://www.nasdaq.com/articles/apple-vs-huawei%3A-a-new-smartphone-battle-divides-china
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nan
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nan
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By Yelin Mo and Brenda Goh
BEIJING, Sept 12 (Reuters) - Apple's iPhone 15 drew mixed reactions in its third largest market of China on Wednesday, with many online users liking its faster chip and improved gaming capabilities while others preferred Huawei's new smartphone.
China remains key for the U.S. tech giant, which unveiled its new iPhone lineup on Tuesday. The company occupies a leading position in China's premium smartphone market, in part due to the decimation of Huawei Technologies' HWT.UL smartphone business by U.S. export controls, but has also come under scrutiny in the run-up to the iPhone 15's launch.
Shares in Apple AAPL.O and its suppliers were battered last week after reports that Chinese government agencies and state firms were banning staff from using the phone and Huawei launched a with an advanced chip, seen as an effort by the Chinese firm for a comeback.
The unveiling of Apple's iPhone 15 attracted intense discussion online on Wednesday, as new models have done in the past. The new phone goes on sale online in China on Alibaba's 9988.HK Tmall marketplace on Sept. 15, and in-stores on Sept. 22.
Topics discussing the new launch attracted 380 million views on social media platform Weibo, with more than 800,000 discussions, including posts, comments and likes, on the iPhone 15.
Many cheered the iPhone 15 Pro's new 3 nanometer chip and Apple's pitch that console-quality games such as "Resident Evil 4 Remake", can be played on the device, appealing to China's army of mobile gamers.
But several social media users had misgivings about choosing an American brand over a domestically made rival, especially after state media applauded the roll out of Huawei's Mate 60 Pro earlier this month as a triumph by China over U.S. sanctions.
A survey by Chinese news portal Sina on the social media platform asking participants if they would buy the Mate 60 or iPhone 15 saw 61,000 votes for the Huawei device versus 24,000 for the iPhone 15.
Comparisons of how the Mate 60 Pro could make calls and send texts via satellite, while the iPhone 15 was only capable of satellite texts, also generated significant discussion.
"The iPhone 15 can only send SOS messages via satellite, using last-generation technology already deployed in Huawei's Mate 60, which supports full satellite calling," one user wrote.
China's smartphone market, like the sector globally, is in the midst of a slump and analysts cautioned that this, and the country's slowing economy, could also weigh on sales of the iPhone 15.
Apple's third-party retailers in February launched rare discounts on the iPhone 14 Pro by as much as 10% that helped sales but could undermine demand for the latest series, analysts said.
"This is not a good signal for the upcoming 15 series as some demand has been fulfilled before the launch," said Archie Zhang, a research analyst at Counterpoint. "Before Huawei's surprise launch, we projected Apple's sales in China Q3 and Q4 to be flat or slightly weaker than last year."
Will Wong, an analyst with industry research group IDC, saw recent public sector developments and Huawei posing a challenge for Apple.
"Sales (of the iPhone 15) are not going to be easy, especially since Chinese consumers are either being cautious in spending or shifted their focus to leisure or travel," he added.
China's foreign ministry said on Wednesday that Beijing had not issued a ban on the purchase and use of foreign phone brands like Apple but noted that it had noticed media coverage of security incidents related to Apple's phones.
IDC expects Apple's share in China's premium phone market will gradually decline due to increased competition from Huawei.
For the first half of 2023, Apple held 67% of market share for phones priced over $600, followed by Huawei with 15.6%.
($1 = 7.2825 Chinese yuan)
(Reporting by Yelin Mo in Beijing and Brenda Goh in Shanghai, and Josh Ye in Hong Kong; Editing by Jacqueline Wong, Alexandra Hudson)
((yelin.mo@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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Shares in Apple AAPL.O and its suppliers were battered last week after reports that Chinese government agencies and state firms were banning staff from using the phone and Huawei launched a with an advanced chip, seen as an effort by the Chinese firm for a comeback. By Yelin Mo and Brenda Goh BEIJING, Sept 12 (Reuters) - Apple's iPhone 15 drew mixed reactions in its third largest market of China on Wednesday, with many online users liking its faster chip and improved gaming capabilities while others preferred Huawei's new smartphone. Many cheered the iPhone 15 Pro's new 3 nanometer chip and Apple's pitch that console-quality games such as "Resident Evil 4 Remake", can be played on the device, appealing to China's army of mobile gamers.
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Shares in Apple AAPL.O and its suppliers were battered last week after reports that Chinese government agencies and state firms were banning staff from using the phone and Huawei launched a with an advanced chip, seen as an effort by the Chinese firm for a comeback. By Yelin Mo and Brenda Goh BEIJING, Sept 12 (Reuters) - Apple's iPhone 15 drew mixed reactions in its third largest market of China on Wednesday, with many online users liking its faster chip and improved gaming capabilities while others preferred Huawei's new smartphone. Comparisons of how the Mate 60 Pro could make calls and send texts via satellite, while the iPhone 15 was only capable of satellite texts, also generated significant discussion.
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Shares in Apple AAPL.O and its suppliers were battered last week after reports that Chinese government agencies and state firms were banning staff from using the phone and Huawei launched a with an advanced chip, seen as an effort by the Chinese firm for a comeback. By Yelin Mo and Brenda Goh BEIJING, Sept 12 (Reuters) - Apple's iPhone 15 drew mixed reactions in its third largest market of China on Wednesday, with many online users liking its faster chip and improved gaming capabilities while others preferred Huawei's new smartphone. The company occupies a leading position in China's premium smartphone market, in part due to the decimation of Huawei Technologies' HWT.UL smartphone business by U.S. export controls, but has also come under scrutiny in the run-up to the iPhone 15's launch.
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Shares in Apple AAPL.O and its suppliers were battered last week after reports that Chinese government agencies and state firms were banning staff from using the phone and Huawei launched a with an advanced chip, seen as an effort by the Chinese firm for a comeback. The unveiling of Apple's iPhone 15 attracted intense discussion online on Wednesday, as new models have done in the past. A survey by Chinese news portal Sina on the social media platform asking participants if they would buy the Mate 60 or iPhone 15 saw 61,000 votes for the Huawei device versus 24,000 for the iPhone 15.
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13726.0
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2023-09-13 00:00:00 UTC
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Apple (AAPL) Unveils New iPhone Models at September Event
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AAPL
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https://www.nasdaq.com/articles/apple-aapl-unveils-new-iphone-models-at-september-event
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nan
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nan
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Apple AAPL unveiled four new iPhone models — iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max — at its product launch event on Sep 12.
Both iPhone 15 (6.1-inch) and iPhone 15 Plus (6.7-inch) are powered by the A16 Bionic chip. Both iPhone 15 Pro and iPhone 15 Pro Max are powered by A17 Pro, the industry’s first 3-nanometer chip.
A16 Bionic chip features a six-core CPU, which is faster than the previous generation due to four high-efficiency cores and consumes less power (20% less).
The five-core GPU has 50% more memory bandwidth that supports smooth graphics for streaming videos and playing games. The new 16-core Neural Engine is capable of performing nearly 17 trillion operations per second.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
Apple introduced a USB-C connector that can be used to charge iPhone, Mac, iPad and the new AirPods Pro (2nd generation). Users can also charge AirPods and Apple Watch directly from iPhones with the USB-C connector.
Apple updated the iPhone’s cameras. The main camera with 48 MP enables super-high-resolution photos while a new 2x Telephoto option gives users a total of three optical zoom levels.
The latest iPhones feature the next generation of portraits, which makes it easier for users to capture portraits with in-depth detail with improved low-light performance.
Apple has launched the iPhone 15 and iPhone 15 Plus in five new colors, including pink, yellow, green, blue and black. iPhone 15 Pro and iPhone 15 Pro Max will be available in four colors, black titanium, white titanium, blue titanium and natural titanium. All of these models will be available beginning Sep 22.
Will New iPhones Boost Apple’s Share Price?
Apple shares have gained 35.7% year to date, underperforming the Zacks Computer & Technology sector’s return of 37.6%.
The near-term outlook is not enthusiastic, given the headwinds. Apple did not provide revenue guidance for the fourth quarter of fiscal 2023. It expects iPhone and Services’ year-over-year growth to accelerate in the current quarter compared with the June quarter.
Apple is benefiting from increasing customer engagement in the services segment. It currently has more than one billion paid subscribers across its Services portfolio. The expanding content portfolio of Apple TV+ and Apple Arcade is helping drive subscriber growth.
However, revenues for both Mac and iPad are expected to decline double digits on a year-over-year basis in the fiscal fourth quarter due to difficult comparisons.
Zacks Rank & Stocks to Consider
Apple currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Asure Software ASUR, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVIDIA, Dell and Asure Software shares have gained 207%, 75.9% and 22.8% in the year-to-date period, respectively.
The long-term earnings growth rate of NVIDIA, Dell and Asure Software is pegged at 13.5%, 12% and 27%, respectively.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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
Apple Inc. (AAPL) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Asure Software Inc (ASUR) : 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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Apple AAPL unveiled four new iPhone models — iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max — at its product launch event on Sep 12. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. The main camera with 48 MP enables super-high-resolution photos while a new 2x Telephoto option gives users a total of three optical zoom levels.
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Apple AAPL unveiled four new iPhone models — iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max — at its product launch event on Sep 12. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Asure Software ASUR, Dell Technologies DELL and NVIDIA NVDA, each sporting a Zacks Rank #1 (Strong Buy) at present.
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Apple AAPL unveiled four new iPhone models — iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max — at its product launch event on Sep 12. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple Inc. Price and Consensus Apple Inc. price-consensus-chart | Apple Inc. Quote Apple introduced a USB-C connector that can be used to charge iPhone, Mac, iPad and the new AirPods Pro (2nd generation).
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Apple AAPL unveiled four new iPhone models — iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max — at its product launch event on Sep 12. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple Inc. Price and Consensus Apple Inc. price-consensus-chart | Apple Inc. Quote Apple introduced a USB-C connector that can be used to charge iPhone, Mac, iPad and the new AirPods Pro (2nd generation).
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13727.0
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2023-09-13 00:00:00 UTC
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Apple Shares Stumble Into The Buy Zone
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AAPL
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https://www.nasdaq.com/articles/apple-shares-stumble-into-the-buy-zone
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nan
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nan
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Having easily outpaced the S&P 500 all year, Apple Inc (NASDAQ: AAPL) shares are suddenly finding themselves playing catchup against the benchmark index. Since hitting an all-time high at the end of July they’ve become noticeably cooler, and the bulls will be getting nervous. The stock is down more than 10% since then, while the S&P 500 is essentially flat.
Sure, there are reasons for this recent underperformance, and we’ll be digging into them. But the high-level message here is to start getting excited. It’s not often that Apple shares open up a buying opportunity like this, with investors far more used to having to buy into them while they’re cruising to high after high. And as we’ll see below, this entry opportunity mightn’t be around for long.
iPhone Concerns
First things first though, what is behind Apple’s recent drop? Well, having rallied close to 60% since the start of the year, far outpacing most other tech names, it’s perhaps not all that surprising that their shares would at some point take a breather. One of the main catalysts for this was the company’s Q3 results, which were released in the first week of August.
Despite mostly beating expectations, the numbers weren’t as good as they needed to be in order to both justify the rally up to that point and give it fresh fuel for the next leg. Indeed, Wall Street was quick to raise some concerns around their latest iPhone launch, with expected consumer demand well below what we’ve all become accustomed to from Apple.
This cloud on the horizon darkened last week when the Chinese government was reported to have banned its employees from having or using iPhones. Given the key role the Chinese market has played and is expected to play in Apple’s future growth, this was a headwind they could have done without.
In many ways, it was seen as payback for the Biden administration’s recent ban on China’s Huawei phones and other equipment. While overall the US-China relationship has undoubtedly improved from the low points of recent years, these kinds of headlines reinforce the fact that we’re not fully out of the woods just yet. Investors getting involved need to be mindful of just how exposed Apple could become should geo-political relations worsen.
30% Upside
But for now, already there are signs that the recent dip is becoming overdone. Morgan Stanley’s Erik Woodring came out in Apple’s defense when he reiterated his Overweight rating on their shares towards the end of last week, writing in a note to clients that it’s unlikely the ban on iPhones for Chinese government employees turns into something larger. His $215 price target remains rock solid and isn’t even the highest out there.
Wedbush’s Dan Ives also weighed in on Apple’s upside potential and minimized the risks from the ban in China. He reiterated his $230 price target which points to an upside in the region of at least 30% from where shares closed on Tuesday. Hitting this in the coming weeks would also mean Apple stock is back where it likes to be, at all-time highs.
Technically, the signs are also pointing to the current bout of selling running out of steam. Shares are currently trading right around the $175 mark, which is where they topped out multiple times in 2021 and 2022.
It’s also where buyers stepped in last month to stop the first round of the slide, so we expect that same to happen in the coming sessions. If this level does indeed prove to be unbreakable, then for those of us on the sidelines weighing up an entry point, you can’t really ask for better than that.
Getting Involved
Given the stock’s relative strength index already bounced back from being below 30, which indicates extremely oversold conditions, there’s clearly a whole level of buyers waiting on the sidelines to take advantage of what feels like a discount.
Even with this year’s rally, Apple’s price-to-earnings ratio is still only 29, so you’d struggle to make the argument they’re anywhere close to expensive. Taken into account with the recent dip and you get a sense of just how cheap their shares could be at these levels. Just don't expect the sale to last for long.
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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Having easily outpaced the S&P 500 all year, Apple Inc (NASDAQ: AAPL) shares are suddenly finding themselves playing catchup against the benchmark index. While overall the US-China relationship has undoubtedly improved from the low points of recent years, these kinds of headlines reinforce the fact that we’re not fully out of the woods just yet. Morgan Stanley’s Erik Woodring came out in Apple’s defense when he reiterated his Overweight rating on their shares towards the end of last week, writing in a note to clients that it’s unlikely the ban on iPhones for Chinese government employees turns into something larger.
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Having easily outpaced the S&P 500 all year, Apple Inc (NASDAQ: AAPL) shares are suddenly finding themselves playing catchup against the benchmark index. Morgan Stanley’s Erik Woodring came out in Apple’s defense when he reiterated his Overweight rating on their shares towards the end of last week, writing in a note to clients that it’s unlikely the ban on iPhones for Chinese government employees turns into something larger. He reiterated his $230 price target which points to an upside in the region of at least 30% from where shares closed on Tuesday.
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Having easily outpaced the S&P 500 all year, Apple Inc (NASDAQ: AAPL) shares are suddenly finding themselves playing catchup against the benchmark index. It’s not often that Apple shares open up a buying opportunity like this, with investors far more used to having to buy into them while they’re cruising to high after high. Morgan Stanley’s Erik Woodring came out in Apple’s defense when he reiterated his Overweight rating on their shares towards the end of last week, writing in a note to clients that it’s unlikely the ban on iPhones for Chinese government employees turns into something larger.
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Having easily outpaced the S&P 500 all year, Apple Inc (NASDAQ: AAPL) shares are suddenly finding themselves playing catchup against the benchmark index. And as we’ll see below, this entry opportunity mightn’t be around for long. Well, having rallied close to 60% since the start of the year, far outpacing most other tech names, it’s perhaps not all that surprising that their shares would at some point take a breather.
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13728.0
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2023-09-13 00:00:00 UTC
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Needham Reiterates Apple (AAPL) Buy Recommendation
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AAPL
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https://www.nasdaq.com/articles/needham-reiterates-apple-aapl-buy-recommendation-1
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nan
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nan
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Fintel reports that on September 13, 2023, Needham reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation.
Analyst Price Forecast Suggests 16.11% 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 16.11% from its latest reported closing price of 176.30.
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 6409 funds or institutions reporting positions in Apple. This is an increase of 24 owner(s) or 0.38% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. Total shares owned by institutions increased in the last three months by 0.28% to 9,941,728K shares.
The put/call ratio of AAPL is 0.87, 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.
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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 13, 2023, Needham reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
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Fintel reports that on September 13, 2023, Needham reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
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Fintel reports that on September 13, 2023, Needham reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
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Fintel reports that on September 13, 2023, Needham reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
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13729.0
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2023-09-13 00:00:00 UTC
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US STOCKS-Wall St set to open subdued as CPI data fuels higher-for-longer rate worries
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-set-to-open-subdued-as-cpi-data-fuels-higher-for-longer-rate-worries
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By Ankika Biswas and Shristi Achar A
Sept 13 (Reuters) - Wall Street's main indexes were set to open subdued on Wednesday as data showed consumer prices clocked their highest rise in more than a year in August, fanning fears the Federal Reserve could keep interest rates higher for longer.
Data showed consumer price inflation rose in line with expectations on a monthly basis by 0.6% in August, compared with a 0.2% rise in July, but core inflation rose by more-than-expected 0.3% last month.
On a yearly basis, the headline inflation rose marginally higher than expected at 3.7% in August compared with a 3.2% increase in the previous month.
Gasoline prices accelerated in August, peaking at $3.984 per gallon in the third week of the month, according to data from the U.S. Energy Information Administration. That compared to $3.676 per gallon during the same period in July.
"We think the FOMC (Federal Open Market Committee) will pause this month but raise rates one last time in November and keep rates elevated until mid-2024, barring a recession that we don’t anticipate,” said Sam Stovall, chief investment strategist at CFRA Research.
Traders now see a 95% chance of the Fed holding rates in September and a 55% likelihood of a pause in November and December, according to the CME FedWatch Tool.
The Fed is likely to cut rates only from April-June next year, a Reuters poll showed.
Yield on the two-year Treasury note US2YT=RR, which best reflects short-term interest rate expectations, rose 4 basis points after the CPI data, currently hovering around 5.0200%.
Investors will now shift focus to August producer prices and retail sales data on Thursday ahead of the Fed's Sept. 20 policy decision.
At 8:53 a.m. ET, Dow e-minis 1YMcv1 were up 18 points, or 0.05%, S&P 500 e-minis EScv1 were up 1.75 points, or 0.04%, and Nasdaq 100 e-minis NQcv1 were down 1.5 points, or 0.01%.
Apple AAPL.O rose 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models.
Ford F.N gained 1.5% on plans to double production of its hybrid F-150 pickup trucks in 2024.
U.S.-listed shares of Chinese electric-vehicle makers Li Auto LI.O, Nio NIO.N and Xpeng XPEV.N fell between 1.8% and 2.8% after the European Commission started an investigation on whether to impose tariffs on their vehicles.
Sprit AirlinesSAVE.N lost 3.7% as the low-cost carrier cut its third-quarter revenue outlook to reflect rising fuel prices.
ModernaMRNA.O gained 7.0% after the drugmaker said its flu vaccine mRNA-1010 met its primary goal in a late-stage trial. The firm also announced it was scaling down manufacturing of its COVID-19 vaccine.
Federal Reserve vs Inflation https://tmsnrt.rs/47jUWgZ
(Reporting by Ankika Biswas, Shristi Achar A, Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'Souza and Vinay Dwivedi)
((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 rose 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - Wall Street's main indexes were set to open subdued on Wednesday as data showed consumer prices clocked their highest rise in more than a year in August, fanning fears the Federal Reserve could keep interest rates higher for longer. Yield on the two-year Treasury note US2YT=RR, which best reflects short-term interest rate expectations, rose 4 basis points after the CPI data, currently hovering around 5.0200%.
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Apple AAPL.O rose 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models. Data showed consumer price inflation rose in line with expectations on a monthly basis by 0.6% in August, compared with a 0.2% rise in July, but core inflation rose by more-than-expected 0.3% last month. On a yearly basis, the headline inflation rose marginally higher than expected at 3.7% in August compared with a 3.2% increase in the previous month.
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Apple AAPL.O rose 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - Wall Street's main indexes were set to open subdued on Wednesday as data showed consumer prices clocked their highest rise in more than a year in August, fanning fears the Federal Reserve could keep interest rates higher for longer. Data showed consumer price inflation rose in line with expectations on a monthly basis by 0.6% in August, compared with a 0.2% rise in July, but core inflation rose by more-than-expected 0.3% last month.
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Apple AAPL.O rose 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - Wall Street's main indexes were set to open subdued on Wednesday as data showed consumer prices clocked their highest rise in more than a year in August, fanning fears the Federal Reserve could keep interest rates higher for longer. Data showed consumer price inflation rose in line with expectations on a monthly basis by 0.6% in August, compared with a 0.2% rise in July, but core inflation rose by more-than-expected 0.3% last month.
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13730.0
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2023-09-13 00:00:00 UTC
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Should Invesco NASDAQ 100 ETF (QQQM) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-invesco-nasdaq-100-etf-qqqm-be-on-your-investing-radar-8
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nan
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Designed to provide broad exposure to the Large Cap Growth segment of the US equity market, the Invesco NASDAQ 100 ETF (QQQM) is a passively managed exchange traded fund launched on 10/13/2020.
The fund is sponsored by Invesco. It has amassed assets over $14.45 billion, making it one of the largest 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. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.
Growth stocks have higher than average sales and earnings growth rates. While these are expected to grow faster than the broader market, they also have higher valuations. Something to keep in mind is the higher level of volatility that is affiliated with growth stocks. When you consider growth versus value, growth stocks are usually the clear winner in strong bull markets but tend to fall flat in nearly all other environments.
Costs
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Annual operating expenses for this ETF are 0.15%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 0.64%.
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 48.70% of the portfolio. Telecom and Consumer Discretionary round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 11.16% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN).
The top 10 holdings account for about 48.39% of total assets under management.
Performance and Risk
QQQM seeks to match the performance of the NASDAQ-100 INDEX before fees and expenses. The NASDAQ-100 Index includes securities of 100 of the largest domestic and international nonfinancial companies listed on Nasdaq.
The ETF has gained about 40.47% so far this year and is up about 20.79% in the last one year (as of 09/13/2023). In the past 52-week period, it has traded between $107 and $158.70.
The ETF has a beta of 1.16 and standard deviation of 24.06% for the trailing three-year period. With about 103 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco NASDAQ 100 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, QQQM is a great 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 $93.12 billion in assets, Invesco QQQ has $202.65 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.
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
Invesco NASDAQ 100 ETF (QQQM): 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 11.16% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Click to get this free report Invesco NASDAQ 100 ETF (QQQM): 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 Invesco NASDAQ 100 ETF (QQQM) is a passively managed exchange traded fund launched on 10/13/2020.
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Click to get this free report Invesco NASDAQ 100 ETF (QQQM): 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 11.16% 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 Invesco NASDAQ 100 ETF (QQQM) is a passively managed exchange traded fund launched on 10/13/2020.
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Click to get this free report Invesco NASDAQ 100 ETF (QQQM): 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 11.16% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Alternatives Invesco NASDAQ 100 ETF holds a Zacks ETF Rank of 2 (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 (AAPL) accounts for about 11.16% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Click to get this free report Invesco NASDAQ 100 ETF (QQQM): 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 Invesco NASDAQ 100 ETF (QQQM) is a passively managed exchange traded fund launched on 10/13/2020.
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13731.0
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2023-09-13 00:00:00 UTC
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3 Incredible Dividend Stocks to Buy Now
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AAPL
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https://www.nasdaq.com/articles/3-incredible-dividend-stocks-to-buy-now
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nan
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nan
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Dividend stocks are hot again, but not all dividends are created equal. In this video, Travis Hoium highlights three stocks that not only have great payouts, they also have great businesses behind them.
*Stock prices used were end-of-day prices of Sept. 8, 2023. The video was published on Sept. 11, 2023.
10 stocks we like better than Verizon Communications
When our analyst team has a stock 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 Verizon Communications 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 11, 2023
Travis Hoium has positions in Apple and Verizon Communications. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends Verizon Communications and Vici Properties. 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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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 Verizon Communications wasn't one of them! If you choose to subscribe through their link they will earn some extra money that supports their channel.
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After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of September 11, 2023 Travis Hoium has positions in Apple and Verizon Communications. The Motley Fool recommends Verizon Communications and Vici Properties.
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10 stocks we like better than Verizon Communications When our analyst team has a stock 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. See the 10 stocks *Stock Advisor returns as of September 11, 2023 Travis Hoium has positions in Apple and Verizon Communications.
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In this video, Travis Hoium highlights three stocks that not only have great payouts, they also have great businesses behind them. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Verizon Communications wasn't one of them! See the 10 stocks *Stock Advisor returns as of September 11, 2023 Travis Hoium has positions in Apple and Verizon Communications.
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13732.0
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2023-09-13 00:00:00 UTC
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If You Invested $1,000 in PayPal Stock When It Went Public, This Is How Much You Would Have Today
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AAPL
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https://www.nasdaq.com/articles/if-you-invested-%241000-in-paypal-stock-when-it-went-public-this-is-how-much-you-would-have
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nan
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nan
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The road to investing success is paved with mountains, molehills, and ditches. If you only invest in secure stocks, your money probably won't skyrocket, but it will grow at a solid and steady pace. If you have more of an appetite for risk, you're likely to face many ups and downs, but even one amazing growth stock can deliver enormous, life-changing gains for your investing account.
That's why it's important to diversify. If you make any unfortunate investing decisions, the good ones should more than balance them out. It's also important to invest for the long term, which gives your stocks the best chance at success. Looking back over the past eight years that PayPal (NASDAQ: PYPL) has been a public company, it hasn't been the success investors were hoping for. Let's see what that means and if it can change.
A little history and context
When I talk about PayPal going public, I mean for the second time. PayPal first went public in 2002, but was acquired soon after by online marketplace eBay. It was spun off as a separate company and had another initial public offering (IPO) in 2015, so PayPal as a stock is really fairly young.
In its first four years as a public company, leading up to the pandemic, PayPal demonstrated steady growth and increasing profits. The stock price reflected that, gaining about 130%.
The pandemic changed all that. Sales skyrocketed as consumers adopted digital payments amid the lockdowns, and by the summer of 2021, PayPal stock had gained another nearly 250%. If you had sold your $1,000 initial investment at that time, you would have come away with almost $8,000. But why would you have done that? PayPal was on a high, and it looked like the wave of the future.
Unfortunately, things have turned down since then.
Why PayPal stock has cooled off
PayPal has faced some major challenges since that time. Part of that is the sheer growth it experienced in a very short period, making it a difficult feat to build on top of that.
Next is new competition. When digital payments took off as the pandemic broke out, the competition didn't sit still for too long. Many other tech companies launched competing products cutting into PayPal's market share. Products like Alphabet's Google Pay and Apple Pay have become popular payment apps, while companies like Shopify have launched their own digital payments infrastructure. Several buy now, pay later companies have sprouted, and many digital banks have opened their virtual doors.
Many of the new technologies supplant the kinds of services PayPal offers, making it less of a need for customers who relied on it before. Investors aren't seeing so much of a growth story anymore.
That's why since the highs in 2021, PayPal stock is now down almost 80%. If you had held on to your $1,000 investment, you'd have just $1,661 today, or a lot less than if you'd invested in an S&P 500 index fund.
Data source: YCharts
Why the situation may not be as bad as you think
Let's be clear about some of the positives. PayPal has continued to build on its sales every quarter. Profitability hasn't been as consistent, but PayPal is still a highly profitable company.
It's still the most recognizable name in digital payments and the dominant leader in the industry, with $377 billion second-quarter total payment volume. It's inking new deals and maintaining its top spot, and it's not easy to displace a forward-thinking market leader.
The company announced a new chief executive officer last month, and a new, visionary leader could be the spark the company needs to jump-start its brand and generate more investor enthusiasm. As it stands now, the stock price reflects investor sentiment more than performance.
With this dismal return, how should you envision the future?
PayPal has plenty of room to run. E-commerce is expected to keep growing, and PayPal will benefit organically. This is not the end of its story.
Consider that a stock like Amazon is down during the past three years, and there have been times over its history that it's lost a huge percentage of its total value. PayPal stock hasn't performed well in this short stretch, but it could climb back up in a huge way.
10 stocks we like better than PayPal
When our analyst team has a stock 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 PayPal 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 5, 2023
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Jennifer Saibil has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon.com, Apple, PayPal, and Shopify. The Motley Fool recommends eBay and recommends the following options: short December 2023 $67.50 puts on PayPal and short October 2023 $52.50 calls on eBay. 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 you have more of an appetite for risk, you're likely to face many ups and downs, but even one amazing growth stock can deliver enormous, life-changing gains for your investing account. Looking back over the past eight years that PayPal (NASDAQ: PYPL) has been a public company, it hasn't been the success investors were hoping for. Sales skyrocketed as consumers adopted digital payments amid the lockdowns, and by the summer of 2021, PayPal stock had gained another nearly 250%.
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Products like Alphabet's Google Pay and Apple Pay have become popular payment apps, while companies like Shopify have launched their own digital payments infrastructure. The Motley Fool has positions in and recommends Alphabet, Amazon.com, Apple, PayPal, and Shopify. The Motley Fool recommends eBay and recommends the following options: short December 2023 $67.50 puts on PayPal and short October 2023 $52.50 calls on eBay.
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Why PayPal stock has cooled off PayPal has faced some major challenges since that time. 10 stocks we like better than PayPal When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of September 5, 2023 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.
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Looking back over the past eight years that PayPal (NASDAQ: PYPL) has been a public company, it hasn't been the success investors were hoping for. Products like Alphabet's Google Pay and Apple Pay have become popular payment apps, while companies like Shopify have launched their own digital payments infrastructure. The Motley Fool has positions in and recommends Alphabet, Amazon.com, Apple, PayPal, and Shopify.
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13733.0
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2023-09-13 00:00:00 UTC
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Should You Invest in the Technology Select Sector SPDR ETF (XLK)?
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AAPL
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https://www.nasdaq.com/articles/should-you-invest-in-the-technology-select-sector-spdr-etf-xlk-9
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nan
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The Technology Select Sector SPDR ETF (XLK) was launched on 12/16/1998, and is a passively managed exchange traded fund designed to offer broad exposure to the Technology - Broad segment of the equity market.
An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they 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 9, placing it in bottom 44%.
Index Details
The fund is sponsored by State Street Global Advisors. It has amassed assets over $49.69 billion, making it the largest ETF attempting to match the performance of the Technology - Broad segment of the equity market. XLK seeks to match the performance of the Technology Select Sector Index before fees and expenses.
The Technology Select Sector Index includes companies from the following industries: computers & peripherals; software; diversified telecommunication services; communications equipment; semiconductor & semiconductor equipment; internet software & services; IT services; wireless telecommunication services; electronic equipment & instruments; and office electronics.
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 0.10%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 0.80%.
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 in the Information Technology sector--about 100% of the portfolio.
Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 22.46% of total assets, followed by Apple Inc (AAPL) and Nvidia Corp (NVDA).
The top 10 holdings account for about 69.36% of total assets under management.
Performance and Risk
The ETF has gained about 37.59% so far this year and is up about 23.31% in the last one year (as of 09/13/2023). In that past 52-week period, it has traded between $116.56 and $180.26.
The ETF has a beta of 1.12 and standard deviation of 25.01% for the trailing three-year period, making it a medium risk choice in the space. With about 68 holdings, it effectively diversifies company-specific risk.
Alternatives
Technology Select Sector SPDR 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, XLK is an excellent 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.
IShares U.S. Technology ETF (IYW) tracks Dow Jones U.S. Technology Index and the Vanguard Information Technology ETF (VGT) tracks MSCI US Investable Market Information Technology 25/50 Index. IShares U.S. Technology ETF has $11.09 billion in assets, Vanguard Information Technology ETF has $51.94 billion. IYW has an expense ratio of 0.40% 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.
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
Technology Select Sector SPDR ETF (XLK): ETF Research Reports
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
iShares U.S. Technology ETF (IYW): 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, Microsoft Corp (MSFT) accounts for about 22.46% of total assets, followed by Apple Inc (AAPL) and Nvidia Corp (NVDA). Click to get this free report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report iShares U.S. Technology ETF (IYW): 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 $49.69 billion, making it the largest ETF attempting to match the performance of the Technology - Broad segment of the equity market.
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Click to get this free report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report iShares U.S. Technology ETF (IYW): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 22.46% of total assets, followed by Apple Inc (AAPL) and Nvidia Corp (NVDA). The Technology Select Sector Index includes companies from the following industries: computers & peripherals; software; diversified telecommunication services; communications equipment; semiconductor & semiconductor equipment; internet software & services; IT services; wireless telecommunication services; electronic equipment & instruments; and office electronics.
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Click to get this free report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report iShares U.S. Technology ETF (IYW): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 22.46% of total assets, followed by Apple Inc (AAPL) and Nvidia Corp (NVDA). Alternatives Technology Select Sector SPDR 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, Microsoft Corp (MSFT) accounts for about 22.46% of total assets, followed by Apple Inc (AAPL) and Nvidia Corp (NVDA). Click to get this free report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report iShares U.S. Technology ETF (IYW): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports To read this article on Zacks.com click here. The Technology Select Sector SPDR ETF (XLK) was launched on 12/16/1998, and is a passively managed exchange traded fund designed to offer broad exposure to the Technology - Broad segment of the equity market.
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13734.0
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2023-09-13 00:00:00 UTC
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Wedbush Reiterates Apple (AAPL) Outperform Recommendation
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https://www.nasdaq.com/articles/wedbush-reiterates-apple-aapl-outperform-recommendation-4
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Fintel reports that on September 12, 2023, Wedbush reiterated coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation.
Analyst Price Forecast Suggests 16.11% 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 16.11% from its latest reported closing price of 176.30.
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 6409 funds or institutions reporting positions in Apple. This is an increase of 24 owner(s) or 0.38% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. Total shares owned by institutions increased in the last three months by 0.28% to 9,941,728K shares.
The put/call ratio of AAPL is 0.87, 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 12, 2023, Wedbush reiterated coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
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Fintel reports that on September 12, 2023, Wedbush reiterated coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
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Fintel reports that on September 12, 2023, Wedbush reiterated coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
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Fintel reports that on September 12, 2023, Wedbush reiterated coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 4.14%, an increase of 8.84%. The put/call ratio of AAPL is 0.87, indicating a bullish outlook.
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13735.0
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2023-09-13 00:00:00 UTC
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US STOCKS-Wall Street ends mixed as CPI data cements bets for Fed pause
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-mixed-as-cpi-data-cements-bets-for-fed-pause
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By Noel Randewich and Ankika Biswas
Sept 13 (Reuters) - Stocks on Wall Street ended mixed on Wednesday as data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September.
Megacap growth stocks Tesla TSLA.O, Meta Platforms META.O, Microsoft MSFT.O and Amazon.com AMZN.O gained for much of the session.
Apple AAPL.O dipped for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged.
The S&P 500 consumer discretionary index .SPLRCDclimbed as Ford Motor F.Nrallied on the vehicle maker's plans to double the production of its hybrid F-150 pickup trucks in 2024.
Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years.
Stickiness in services inflation has kept alive prospects of a November hike. Interest rate traders now see a 97% chance of the Fed holding rates in September, and a 61% likelihood of a pause in November, according to the CME FedWatch Tool.
"I don't think the Fed wants to throw a shock and do a 25-basis-point hike when the expectations are that they won't, but rate hikes are not completely off the table for the rest of the year," said Victoria Fernandez, chief market strategist at Crossmark Global Investment.
Gasoline prices, which have stoked inflation worries, peaked at $3.984 per gallon in the third week of the month, compared with $3.676 per gallon during the same period in July.
The S&P 500 utilities index .SPLRCU gained, with the traditionally defensive sector's rally hinting at investor nervousness ahead of producer price and retail sales data on Thursday, which could influence the Fed's Sept. 20 policy decision.
"That is somewhat of a red flag, it points to skittishness among equity holders, and that's not necessarily unexpected," said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.
The Fed is unlikely to cut rates before the April-June period next year, a Reuters poll showed.
Citigroup C.Nrose after CEO Jane Fraser announced a major management re-organization that will result in more job cuts and give her greater direct oversight over the bank as she seeks to simplify its structure.
U.S.-listed shares of Chinese electric-vehicle makers Nio NIO.N and Xpeng XPEV.Ntumbled after the European Commission started an investigation to assess whether their vehicles warrant punitive tariffs.
Sprit Airlines > dropped after the low-cost carrier cut its third-quarter revenue outlook to reflect rising fuel prices.
ModernaMRNA.Ogained after the drugmaker said its flu vaccine mRNA-1010 met the primary goal in a late-stage trial. The firm also announced it was scaling down manufacturing of its COVID-19 vaccine.
Rates and inflation Rates and inflation https://tmsnrt.rs/3U8HdD2
(Reporting by Ankika Biswas, Shristi Achar A and Shubham Batra in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Savio D'Souza, Vinay Dwivedi and Deepa Babington)
((noel.randewich@tr.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 dipped for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. By Noel Randewich and Ankika Biswas Sept 13 (Reuters) - Stocks on Wall Street ended mixed on Wednesday as data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. The S&P 500 utilities index .SPLRCU gained, with the traditionally defensive sector's rally hinting at investor nervousness ahead of producer price and retail sales data on Thursday, which could influence the Fed's Sept. 20 policy decision.
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Apple AAPL.O dipped for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. By Noel Randewich and Ankika Biswas Sept 13 (Reuters) - Stocks on Wall Street ended mixed on Wednesday as data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years.
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Apple AAPL.O dipped for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. By Noel Randewich and Ankika Biswas Sept 13 (Reuters) - Stocks on Wall Street ended mixed on Wednesday as data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years.
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Apple AAPL.O dipped for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. By Noel Randewich and Ankika Biswas Sept 13 (Reuters) - Stocks on Wall Street ended mixed on Wednesday as data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. Megacap growth stocks Tesla TSLA.O, Meta Platforms META.O, Microsoft MSFT.O and Amazon.com AMZN.O gained for much of the session.
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13736.0
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2023-09-13 00:00:00 UTC
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The 3 Most Undervalued ETFs to Buy in September 2023
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https://www.nasdaq.com/articles/the-3-most-undervalued-etfs-to-buy-in-september-2023
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Exchange-traded funds (ETFs) are growing exponentially in terms of their popularity. According to data from Statista, the value of assets held in ETFs worldwide reached almost $10 trillion in 2022. The number of ETFs available to investors worldwide is also growing dramatically, rising from 276 in 2003 to 8,754 in 2022. This has led to the rise of undervalued ETFs.
The popularity of ETFs is due to many factors, including low fees, sector diversification, and the ability to track specific indexes or parts of the stock market. ETFs also help to mitigate risk and volatility and are generally seen as safer bets than putting money into individual stocks.
For the most part, ETFs are passively managed compared to mutual funds that are actively managed by an individual or team of fund managers. And, ETFs have a track record of providing better returns than mutual funds and other actively managed investments.
So, what’s not to like? Here are the three most undervalued ETFs to buy in September 2023.
SPDR Dow Jones Industrial Average ETF Trust (DIA)
Source: SHUN_J / Shutterstock
Among the three major U.S. indices, the Dow Jones Industrial Average has been the laggard this year, having only risen 5% compared to a 17% gain in the benchmark S&P 500 and a 34% increase in the technology filled Nasdaq index.
There’s clearly a catch-up opportunity with the Dow Jones Industrial Average, which is comprised of 30 of the biggest blue-chip stocks in America, including Apple (NASDAQ:AAPL), McDonald’s (NYSE:MCD) and Visa (NYSE:V).
The SPDR Dow Jones Industrial Average ETF Trust (NYSEARCA:DIA) is a great way to gain exposure to all 30 stocks in the Dow. This exchange-traded fund holds all 30 stocks that comprise the Dow Jones Industrial Average in the same weighting as the index itself and it mirrors the performance of the Dow exactly. This ETF pays a quarterly dividend that yields a healthy 2.11% and its expense ratio is just 0.16%, making it fairly inexpensive to own. All told this is a great way to play a leading U.S. index and gain broad sector exposure. It also makes it one of those undervalued ETFs.
Energy Select Sector SPDR Fund (XLE)
Source: Blue Planet Studio / Shutterstock.com
Oil prices are hovering near a 10-month high and flirting with $90 a barrel. As the sector stages a recovery, a good option would be the Energy Select Sector SPDR Fund (NYSEARCA:XLE).
This can be a great way to play the resurgence of oil and natural gas stocks, which have been down this year after record profits seen in 2022. Top holdings in this ETF include leading energy companies such as Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), and Occidental Petroleum (NYSE:OXY), to name only few of the fund’s total of 23 holdings.
Other reasons to consider the XLE ETF are the low expense ratio of 0.10% and a dividend yield of 4.13%. Oil and natural gas companies pay some of the highest dividends in the S&P 500 index and that fact is reflected in the Energy Select SPDR Fund. With some analysts now predicting that crude oil prices will again test $100 a barrel, the outlook for oil and gas stocks is suddenly bullish. While betting on individual stocks can be risky, spreading that risk across a diverse number of holdings through an ETF like this can help to increase the odds of gaining from the renewed success of the energy sector.
Vanguard Small-Cap Index Fund ETF (VB)
Source: shutterstock.com/bangoland
Another sector that has lagged the market this year are small-cap stocks. As the market rally broadens out to eventually include small and medium-sized stocks, a great option would be the Vanguard Small-Cap Index Fund ETF (NYSEARCA:VB). This exchange-traded fund tracks the performance of the CRSP U.S. Small Cap Index, which measures the investment return of small-capitalization stocks.
Holdings in the fund include companies such as Fair Isaac Corp. (NYSE:FICO) and Targa Resources (NYSE:TRGP). Year to date, the VB ETF has gained 8% and it’s up nearly 20% over five years.
Known worldwide for its low fees, the Vanguard Small-Cap Index Fund ETF charges a rock bottom expense ratio of 0.05%. Like the other ETFs on this list, VB pays a decent dividend of 76 cents a share per quarter, giving it a yield of 1.67%. The combination of low costs, high yield, and diversification make this ETF ideal for investors who want broader exposure and to round out their portfolio to ensure they capture all segments of the market. The VB ETF is also diversified in terms of its sector exposure with holdings that cover everything from energy and healthcare to real estate and finance.
On the date of publication, Joel Baglole held long positions in AAPL and FICO. 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 The 3 Most Undervalued ETFs to Buy in September 2023 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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There’s clearly a catch-up opportunity with the Dow Jones Industrial Average, which is comprised of 30 of the biggest blue-chip stocks in America, including Apple (NASDAQ:AAPL), McDonald’s (NYSE:MCD) and Visa (NYSE:V). On the date of publication, Joel Baglole held long positions in AAPL and FICO. As the market rally broadens out to eventually include small and medium-sized stocks, a great option would be the Vanguard Small-Cap Index Fund ETF (NYSEARCA:VB).
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There’s clearly a catch-up opportunity with the Dow Jones Industrial Average, which is comprised of 30 of the biggest blue-chip stocks in America, including Apple (NASDAQ:AAPL), McDonald’s (NYSE:MCD) and Visa (NYSE:V). On the date of publication, Joel Baglole held long positions in AAPL and FICO. SPDR Dow Jones Industrial Average ETF Trust (DIA) Source: SHUN_J / Shutterstock Among the three major U.S. indices, the Dow Jones Industrial Average has been the laggard this year, having only risen 5% compared to a 17% gain in the benchmark S&P 500 and a 34% increase in the technology filled Nasdaq index.
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There’s clearly a catch-up opportunity with the Dow Jones Industrial Average, which is comprised of 30 of the biggest blue-chip stocks in America, including Apple (NASDAQ:AAPL), McDonald’s (NYSE:MCD) and Visa (NYSE:V). On the date of publication, Joel Baglole held long positions in AAPL and FICO. SPDR Dow Jones Industrial Average ETF Trust (DIA) Source: SHUN_J / Shutterstock Among the three major U.S. indices, the Dow Jones Industrial Average has been the laggard this year, having only risen 5% compared to a 17% gain in the benchmark S&P 500 and a 34% increase in the technology filled Nasdaq index.
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There’s clearly a catch-up opportunity with the Dow Jones Industrial Average, which is comprised of 30 of the biggest blue-chip stocks in America, including Apple (NASDAQ:AAPL), McDonald’s (NYSE:MCD) and Visa (NYSE:V). On the date of publication, Joel Baglole held long positions in AAPL and FICO. It also makes it one of those undervalued ETFs.
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13737.0
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2023-09-13 00:00:00 UTC
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Better Growth Stock: Apple vs. Microsoft
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AAPL
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https://www.nasdaq.com/articles/better-growth-stock%3A-apple-vs.-microsoft-1
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As the world's first and second most valuable companies by market capitalization, Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) are favorites on Wall Street. The tech giants have a long history of delivering consistent growth, with both companies' annual revenue rising by over 48% since 2018. Meanwhile, their stocks have climbed more than 200% in that period.
In 2023, Apple and Microsoft have made investors bullish with expansions into high-growth markets such as artificial intelligence (AI) and virtual/augmented reality (VR/AR). Despite potential macroeconomic headwinds, these companies have solid long-term outlooks thanks to their dominance in tech. As a result, it's not a bad idea to grow your portfolio by adding shares in Apple or Microsoft.
However, before you go all in on one of these companies, make the most of your investment by finding out which is the better buy. So, let's look at whether you're better off with Apple or Microsoft's stock.
Apple: Concerns over future sales in China
Shares in Apple tumbled about 6% in the first week of September after reports that China had banned government workers from using iPhones amid growing tensions with the U.S. The country is Apple's third-largest market, accounting for 18% of its total revenue in fiscal 2022. Consequently, a potential expansion of these regulations to the public caused panic among stockholders.
However, the dip may be overdone, creating an investment opportunity. On Friday, Morgan Stanley analyst Erik Woodring said that he believes China is unlikely to roll out these restrictions nationwide. And if it did, Apple's revenue would dip by 4%, with earnings per share down 3%. Meanwhile, JPMorgan similarly said that based on the material impact of past restrictions by China, it does expect this change to affect "consumer purchasing behavior."
Moreover, Apple is quickly expanding its digital services business, which allows it to lean less on product sales. Its services segment is the second-highest earning part of its business, with revenue rising 8% year over year in the second quarter of 2023. Its growth is outpacing iPhone revenue, strengthening Apple's earnings potential over the long term. Additionally, expanding ventures into AI, fintech, and VR/AR could further bolster Apple's business in the coming years.
Microsoft: A lucrative lead in AI
Microsoft's stock has climbed 40% year to date, steadily becoming one of the biggest names in AI. The company invested $1 billion in ChatGPT developer OpenAI in 2019, which granted Microsoft exclusive licenses on several of the start-up's AI models. As a result, the Windows company has brought AI upgrades to several of its services, including Word, Excel, Bing, and Azure.
Microsoft's swift rise in the industry has led it to announce that its AI venture could hit $10 billion in revenue faster than any of its other businesses did. The tech giant is home to a large library of potent brands, which thousands of businesses worldwide have come to rely on regularly. Meanwhile, AI-enabled releases in its Microsoft 365 Office suite will likely help countless companies adopt the technology in their daily workflows.
Microsoft has a lucrative opportunity in AI, combining its popular productivity platforms with OpenAI's technology. The company's revenue rose 7% year over year to $212 billion in its fiscal 2023 (ended in June). The growth was driven by a 9% increase in productivity and business-processes revenue, and a 17% boost in its intelligent cloud segment. Both divisions are heavily expanding in AI, giving Microsoft solid prospects in the industry.
Is Apple or Microsoft the better buy?
Apple and Microsoft are solid growth stocks, allowing investors to profit from the ever-evolving nature of the tech industry. However, Microsoft appears to be the more reliable option for now. As a software-first company, Microsoft is thriving amid a current AI boom as its cloud business and productivity platforms attract millions of users.
Meanwhile, Apple has experienced three consecutive quarters of revenue declines, burdened by reduced spending in its product segments during poor economic conditions. A large portion of Apple's research and development spending is owed to AI. However, the company has yet to carve out a solid position in the industry.
Furthermore, the iPhone company's issues in China are unlikely to affect its business significantly. However, with a potential recession still on investors' minds, investing in a software titan like Microsoft might be a safer bet. As a result, if you're having trouble deciding between these tech giants, Microsoft is the better stock this month and an excellent long-term investment.
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JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Dani Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, JPMorgan Chase, 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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As the world's first and second most valuable companies by market capitalization, Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) are favorites on Wall Street. Meanwhile, JPMorgan similarly said that based on the material impact of past restrictions by China, it does expect this change to affect "consumer purchasing behavior." As a software-first company, Microsoft is thriving amid a current AI boom as its cloud business and productivity platforms attract millions of users.
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As the world's first and second most valuable companies by market capitalization, Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) are favorites on Wall Street. Its growth is outpacing iPhone revenue, strengthening Apple's earnings potential over the long term. Microsoft: A lucrative lead in AI Microsoft's stock has climbed 40% year to date, steadily becoming one of the biggest names in AI.
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As the world's first and second most valuable companies by market capitalization, Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) are favorites on Wall Street. So, let's look at whether you're better off with Apple or Microsoft's stock. Microsoft: A lucrative lead in AI Microsoft's stock has climbed 40% year to date, steadily becoming one of the biggest names in AI.
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As the world's first and second most valuable companies by market capitalization, Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) are favorites on Wall Street. So, let's look at whether you're better off with Apple or Microsoft's stock. Its services segment is the second-highest earning part of its business, with revenue rising 8% year over year in the second quarter of 2023.
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13738.0
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2023-09-13 00:00:00 UTC
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US STOCKS-Futures slip as higher oil prices keep investors on edge ahead of inflation data
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-slip-as-higher-oil-prices-keep-investors-on-edge-ahead-of-inflation-data
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nan
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By Ankika Biswas and Shristi Achar A
Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data.
The Labor Department's consumer price index reading (CPI), due at 8:30 a.m. ET, is expected to show core CPI eased to 4.3% year-on-year in August from 4.7%, though headline inflation is estimated to have risen to 3.6% from 3.2% after a recent rally in energy prices.
Oil prices held near 10-month highs on Wednesday, driven by expectations that crude supply would remain tight for the rest of the year. O/R
"All indications are that higher oil costs are going to influence the headline inflation print. Any rise in the core data could really put markets on edge given possible interest rate implications," said Tim Waterer, chief market analyst at KCM Trade.
"If inflation takes a step higher, this will highlight the challenge faced not only by the Federal Reserve, but by central banks around the globe, that inflation can rear its ugly head again at inopportune times."
Traders see a 93% chance of the Fed holding rates in September and a 55% likelihood of a pause in November and December, according to the CME FedWatch Tool.
The Fed is likely to cut rates only from April-June next year, a Reuters poll showed.
Yield on the two-year Treasury note US2YT=RR, which best reflects short-term interest rate expectations, stood at 5.0327%.
Investors will also closely monitor August producer prices and retail sales data on Thursday ahead of the Fed's Sept. 20 policy decision.
At 7:05 a.m. ET, Dow e-minis 1YMcv1 were down 43 points, or 0.12%, S&P 500 e-minis EScv1 were down 5.25 points, or 0.12%, and Nasdaq 100 e-minis NQcv1 were down 23 points, or 0.15%.
Apple AAPL.O fell 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models.
Ford F.N gained 1.8% on plans to double production of its hybrid F-150 pickup trucks in 2024.
U.S.-listed shares of Chinese electric-vehicle makers Li Auto LI.O, Nio NIO.N and Xpeng XPEV.N fell between 2.6% and 3.5% after the European Commission started an investigation on whether to impose tariffs on their vehicles.
Sprit AirlinesSAVE.N lost 3.4% as the low-cost carrier cut its third-quarter revenue outlook to reflect rising fuel prices.
ModernaMRNA.O gained 2.4% after the drugmaker said its flu vaccine mRNA-1010 met its primary goal in a late-stage trial. The firm also announced it was scaling down manufacturing of its COVID-19 vaccine.
Federal Reserve vs Inflation https://tmsnrt.rs/47jUWgZ
(Reporting by Ankika Biswas, Shristi Achar A and Shubham Batra in Bengaluru; Editing by Savio D'Souza and Vinay Dwivedi)
((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 fell 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data. ET, is expected to show core CPI eased to 4.3% year-on-year in August from 4.7%, though headline inflation is estimated to have risen to 3.6% from 3.2% after a recent rally in energy prices.
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Apple AAPL.O fell 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data. Sprit AirlinesSAVE.N lost 3.4% as the low-cost carrier cut its third-quarter revenue outlook to reflect rising fuel prices.
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Apple AAPL.O fell 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data. ET, is expected to show core CPI eased to 4.3% year-on-year in August from 4.7%, though headline inflation is estimated to have risen to 3.6% from 3.2% after a recent rally in energy prices.
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Apple AAPL.O fell 0.5% in premarket trading, a day after it ended down 1.7% after the company unveiled new iPhone models. By Ankika Biswas and Shristi Achar A Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data. Oil prices held near 10-month highs on Wednesday, driven by expectations that crude supply would remain tight for the rest of the year.
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13739.0
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2023-09-12 00:00:00 UTC
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US takes on Google in much-anticipated antitrust trial
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AAPL
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https://www.nasdaq.com/articles/us-takes-on-google-in-much-anticipated-antitrust-trial-0
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nan
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nan
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By Diane Bartz
WASHINGTON, Sept 12 (Reuters) - The United States argued on Tuesday that Google GOOGL.O did not play by the rules in its efforts to keep its dominance in online search, as a trial seen as a battle for the soul of the internet got underway before a federal judge in Washington.
The U.S. Justice Department accuses Google of paying billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine on top.
Google's defense is simple: It argues that its overwhelmingly high market share is not because it broke the law, but because it is a fast, effective search engine. It is also free.
Consumers, Google's lawyers will argue, can delete the Google app from their devices or simply type Microsoft's Bing, Yahoo or DuckDuckGo into a browser to use an alternative search engine. They will argue that consumers stick with Google because they rely on it to answer questions and are not disappointed.
The trial has opening arguments on Tuesday before a packed D.C. federal court and is expected to run up to 10 weeks. It has two phases. In the first, Judge Amit Mehta will decide if Google has broken antitrust law in how it manages search and search advertising.
If Google is found to have broken the law, Judge Mehta will then decide how best to resolve it. He may decide simply to order Google to stop practices he has found to be illegal or he may order Google to sell assets.
The government, in its complaint, asked for "structural relief as needed" but did not define it.
The legal fight has huge implications for Big Tech, which has been accused of buying or strangling small competitors but has insulated itself against many accusations of breaking antitrust law because the services the companies provide to users are free, as in the case of Google, or inexpensive, as in the case of Amazon.com AMZN.O.
Previous major antitrust trials include Microsoft, filed in 1998, and AT&T, filed in 1974. The AT&T breakup in 1982 is credited with paving the way for the modern cell phone industry, while the fight with Microsoft is credited with opening space for Google and others on the internet.
(Reporting by Diane Bartz; Editing by Jamie Freed and Chizu Nomiyama)
((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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The U.S. Justice Department accuses Google of paying billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine on top. Google's defense is simple: It argues that its overwhelmingly high market share is not because it broke the law, but because it is a fast, effective search engine. The trial has opening arguments on Tuesday before a packed D.C. federal court and is expected to run up to 10 weeks.
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The U.S. Justice Department accuses Google of paying billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine on top. In the first, Judge Amit Mehta will decide if Google has broken antitrust law in how it manages search and search advertising. If Google is found to have broken the law, Judge Mehta will then decide how best to resolve it.
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The U.S. Justice Department accuses Google of paying billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine on top. By Diane Bartz WASHINGTON, Sept 12 (Reuters) - The United States argued on Tuesday that Google GOOGL.O did not play by the rules in its efforts to keep its dominance in online search, as a trial seen as a battle for the soul of the internet got underway before a federal judge in Washington. Consumers, Google's lawyers will argue, can delete the Google app from their devices or simply type Microsoft's Bing, Yahoo or DuckDuckGo into a browser to use an alternative search engine.
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The U.S. Justice Department accuses Google of paying billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine on top. By Diane Bartz WASHINGTON, Sept 12 (Reuters) - The United States argued on Tuesday that Google GOOGL.O did not play by the rules in its efforts to keep its dominance in online search, as a trial seen as a battle for the soul of the internet got underway before a federal judge in Washington. Consumers, Google's lawyers will argue, can delete the Google app from their devices or simply type Microsoft's Bing, Yahoo or DuckDuckGo into a browser to use an alternative search engine.
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13740.0
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2023-09-12 00:00:00 UTC
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3 Reddit-Approved AI Stocks for Your Buy-List
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AAPL
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https://www.nasdaq.com/articles/3-reddit-approved-ai-stocks-for-your-buy-list
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When it comes to identifying the pulse of contemporarystock market trends it’s tough to overlook the burgeoning influence of Reddit. Investing subreddits in particular have steered notable stock shifts and even reshaped market narratives. Among the stocks creating a buzz, AI stocks have taken center stage this year, especially with stalwarts such as Nvidia (NASDAQ:NVDA) witnessing an impressive ascent, soaring over 216% in just nine months. Therefore wagering on the popular AI stocks on Reddit remains incredibly relevant.
As we delve deeper into this trend, relying solely on Reddit’s wisdom might be tempting, but diligent research is essential before solely relying on the platform. Join us as we unwrap three AI stocks trending on social media, spotlighted by the adept Reddit trend tracker ApeWisdom.
Apple (AAPL)
Source: Eric Broder Van Dyke / Shutterstock.com
Apple (NASDAQ:AAPL), renowned as the global behemoth in the tech sphere, has never been one to rest on its laurels. Its dedication to pioneering and adapting to the newest technological shifts has kept it ahead of the curve. Moreover, one of the most profound shifts in the tech world is the growing focus on AI, and Apple is once again turning heads on this front.
During the Worldwide Developers Conference, Apple gave us a sneak peek into the AI-imbued future with the unveiling of iOS 17. For instance, the autocorrect feature, now powered by advanced transformer language models, promises to redefine user experience. Moreover, the introduction of the Journal app effectively utilizes machine learning to suggest entries, showcasing Apple’s commitment to making AI a core part of users’ lives.
Although there have been murmurs regarding Apple’s recent earnings, it’s essential to see the larger picture. The company’s commitment to embedding AI in its products, especially in the highly-anticipated launches such as the iPhone 15, is a clear strategic maneuver likely to pay many dividends over the long-term.
Nvidia (NVDA)
Source: Evolf / Shutterstock.com
Nvidia continues solidifying its reputation as the crown jewel for investors keen on the AI chip market. Despite the prevalent chip clump, Nvidia has consistently outperformed expectations, unlike most of its peers. Its most recent earnings report confirms this, with an astounding $13.5 billion in quarterly sales, a 102% bump from the prior-year period, and adjusted earnings reaching $2.70 per share, beating estimates by 63 cents.
Much of this financial windfall is attributed to Nvidia’s data center business, which pulled in $10.3 billion, accounting for 76.3% of the total quarterly revenue. The A100 and H100 chips, critical in training advanced AI models, remain in high demand, underscoring the firm’s pivotal role in fueling AI advancements. Prospective investors eyeing the AI sector should certainly have Nvidia on their radar, given the company’s forward third-quarter guidance projecting sales of $16 billion. What’s even more compelling is the tripling of NVDA stock year-to-date. As AI becomes more vital to tech and its applications, set for potentially exponential growth.
Meta Platforms (META)
Source: Ascannio / Shutterstock.com
Meta Platforms (NASDAQ:META) has been an incredible comeback story, with its stock up over 146.6% this year. Thanks to a combination of strategic AI investments and judicious cost-cutting, the tech giant posted an impressive $32 billion in quarterly sales. With a growing user base exceeding 3.9 billion, Meta is well-poised to reshape the landscape of virtual social interaction effectively.
Mark Zuckerberg, Meta’s founder and CEO, has underscored the importance of AI in the company’s endeavors. Meta’s massive investment in “advancing AI” aims to weave AI into the very fabric of its product suite. Zuckerberg envisions a world where AI builds on user experiences through personalized content discovery and expression and streamlines the company’s internal operations. He highlights the potential for AI to guide engineers in crafting superior code at an accelerated pace. With an estimated AI investment touching the $33 billion mark this year, it’s clear that for Meta, its advancements in AI technology are critical in advancing its agenda.
On the date of publication, Muslim Farooque 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
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
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The post 3 Reddit-Approved AI Stocks for Your Buy-List 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), renowned as the global behemoth in the tech sphere, has never been one to rest on its laurels. Moreover, the introduction of the Journal app effectively utilizes machine learning to suggest entries, showcasing Apple’s commitment to making AI a core part of users’ lives. Zuckerberg envisions a world where AI builds on user experiences through personalized content discovery and expression and streamlines the company’s internal operations.
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Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com Apple (NASDAQ:AAPL), renowned as the global behemoth in the tech sphere, has never been one to rest on its laurels. Therefore wagering on the popular AI stocks on Reddit remains incredibly relevant. Meta Platforms (META) Source: Ascannio / Shutterstock.com Meta Platforms (NASDAQ:META) has been an incredible comeback story, with its stock up over 146.6% this year.
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Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com Apple (NASDAQ:AAPL), renowned as the global behemoth in the tech sphere, has never been one to rest on its laurels. Among the stocks creating a buzz, AI stocks have taken center stage this year, especially with stalwarts such as Nvidia (NASDAQ:NVDA) witnessing an impressive ascent, soaring over 216% in just nine months. The A100 and H100 chips, critical in training advanced AI models, remain in high demand, underscoring the firm’s pivotal role in fueling AI advancements.
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Apple (AAPL) Source: Eric Broder Van Dyke / Shutterstock.com Apple (NASDAQ:AAPL), renowned as the global behemoth in the tech sphere, has never been one to rest on its laurels. Nvidia (NVDA) Source: Evolf / Shutterstock.com Nvidia continues solidifying its reputation as the crown jewel for investors keen on the AI chip market. Meta Platforms (META) Source: Ascannio / Shutterstock.com Meta Platforms (NASDAQ:META) has been an incredible comeback story, with its stock up over 146.6% this year.
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13741.0
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2023-09-12 00:00:00 UTC
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Facing supply glut for chips, Apple-supplier IQE targets Asian and AI markets
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AAPL
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https://www.nasdaq.com/articles/facing-supply-glut-for-chips-apple-supplier-iqe-targets-asian-and-ai-markets
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nan
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nan
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By Anchal Rana
Sept 12 (Reuters) - British chip components maker IQE IQE.L said on Tuesday it was focussed on penetrating Asian markets and growth opportunities from the artificial intelligence (AI) space as it forecast a slower-than-anticipated recovery in the chip industry this year.
Shares in IQE, which makes "epi-wafers", a type of advanced material used in products from laser hair removal to facial recognition sensors in iPhones, fell 4% after it also swung to a half-yearly loss hurt by lower sales and a supply glut.
"Some wireless markets are now bouncing back, and we have secured new design wins with multiple customers to deliver wireless products and Wi-Fi products into China market and India market for smartphones, which are very large markets for us to tap into," CEO Americo Lemos told Reuters in an interview.
The company, which is exploring diversification, said it also projected a "rebound on the data centre demands that is led by the growth of AI applications."
IQE offers GaN Power electronics which aims to serve power hungry AI infrastructure as the likes of generative AI ChatGPT consumes a lot more energy.
"We continue to believe in a more central role for IQE, with demand for greater performance and power efficiencies rising as AI permeates the world," brokerage Peel Hunt said in a note earlier this month.
Cardiff-based IQE is struggling with an inventory build-up, but expects improvements in supply-chain and a recovery in customer demand next year.
All the major markets for chips - smartphones, personal computers and data centres - have shrunk this year, as both corporate customers and consumers scale back spending amid a weak global economy, high inflation and rising interest rates.
The company's posted a core loss of 5.7 million pounds ($7.13 million) for the six months ended June 30, compared with a core profit of 12.3 million pounds last year.
Still, the Apple AAPL.O supplier said it expected adjusted core earnings to be profitable for 2023, adding that it saw double-digit revenue growth in the second half of 2023, compared to the first half.
($1 = 0.7998 pounds)
(Reporting by Anchal Rana and Chandini Monnappa in Bengaluru; Editing by Sonia Cheema, Rashmi Aich & Simon Cameron-Moore)
((Chandini.M@thomsonreuters.com; +918061822697;))
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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Still, the Apple AAPL.O supplier said it expected adjusted core earnings to be profitable for 2023, adding that it saw double-digit revenue growth in the second half of 2023, compared to the first half. Shares in IQE, which makes "epi-wafers", a type of advanced material used in products from laser hair removal to facial recognition sensors in iPhones, fell 4% after it also swung to a half-yearly loss hurt by lower sales and a supply glut. "We continue to believe in a more central role for IQE, with demand for greater performance and power efficiencies rising as AI permeates the world," brokerage Peel Hunt said in a note earlier this month.
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Still, the Apple AAPL.O supplier said it expected adjusted core earnings to be profitable for 2023, adding that it saw double-digit revenue growth in the second half of 2023, compared to the first half. "Some wireless markets are now bouncing back, and we have secured new design wins with multiple customers to deliver wireless products and Wi-Fi products into China market and India market for smartphones, which are very large markets for us to tap into," CEO Americo Lemos told Reuters in an interview. All the major markets for chips - smartphones, personal computers and data centres - have shrunk this year, as both corporate customers and consumers scale back spending amid a weak global economy, high inflation and rising interest rates.
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Still, the Apple AAPL.O supplier said it expected adjusted core earnings to be profitable for 2023, adding that it saw double-digit revenue growth in the second half of 2023, compared to the first half. By Anchal Rana Sept 12 (Reuters) - British chip components maker IQE IQE.L said on Tuesday it was focussed on penetrating Asian markets and growth opportunities from the artificial intelligence (AI) space as it forecast a slower-than-anticipated recovery in the chip industry this year. "Some wireless markets are now bouncing back, and we have secured new design wins with multiple customers to deliver wireless products and Wi-Fi products into China market and India market for smartphones, which are very large markets for us to tap into," CEO Americo Lemos told Reuters in an interview.
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Still, the Apple AAPL.O supplier said it expected adjusted core earnings to be profitable for 2023, adding that it saw double-digit revenue growth in the second half of 2023, compared to the first half. By Anchal Rana Sept 12 (Reuters) - British chip components maker IQE IQE.L said on Tuesday it was focussed on penetrating Asian markets and growth opportunities from the artificial intelligence (AI) space as it forecast a slower-than-anticipated recovery in the chip industry this year. Shares in IQE, which makes "epi-wafers", a type of advanced material used in products from laser hair removal to facial recognition sensors in iPhones, fell 4% after it also swung to a half-yearly loss hurt by lower sales and a supply glut.
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13742.0
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2023-09-12 00:00:00 UTC
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Best ETFs of Last Week (Revised)
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AAPL
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https://www.nasdaq.com/articles/best-etfs-of-last-week-revised
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nan
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nan
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Wall Street delivered downbeat performances last week due to rising rates. The S&P 500 (down 1.3%), the Dow Jones (down 0.8%), the Nasdaq (down 1.9%) and the Russell 2000 (down 3.6%) – all slumped last week (read: A Guide to Higher Interest Rates and ETFs).
Worries over longer-than-expected higher interest rates have been playing foul on the stock market in recent weeks. The series of upbeat economic data as well as the latest warning from the Fed officials revived speculation that the Fed could lift interest rates again. Benchmark U.S. Treasury yields hit a high of 4.30% on Sep 6, 2023 and ended at 4.26%.
The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. Notably, China is Apple’s third-largest market, accounting for 18% of the company’s total revenues last year (read: What Lies Ahead for Apple ETFs After iPhone Use Ban?).
WTI crude oil rose about 1.4% last week due to tightening supply conditions. Both benchmarks reached a 10-month high last week with more upside potential. Meanwhile, Indian and Japanese stocks hit 52-week highs last week (read: India ETFs Hitting 52-Week Highs: Here's Why).
The Japanese economy is showing strong expansion driven by foreign buying, a still-easy BOJ policy and a weaker yen. In particular, currency-hedged ETFs outperformed their unhedged peers as the surging U.S. dollar knocked down the returns of international investments.
Against this backdrop, below we highlight a few best-performing ETFs of last week.
ETFs in Focus
Roundhill Cannabis ETF (WEED) – Up 22.1%
The Roundhill Cannabis ETF is designed to offer investors exposure to the cannabis sector. The fund charges 40 bps in fees.
Breakwave Dry Bulk Shipping ETF (BDRY) – Up 9.1%
The underlying Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC Index measure rates for shipping dry bulk freight. The expense ratio of the fund is 3.50%.
Simplify Tail Risk Strategy ETF (CYA) – Up 7.1%
The Simplify Tail Risk Strategy ETF seeks to provide investors with a standalone solution for hedging diversified portfolios against severe equity market selloffs. The fund charges 84 bps in fees.
AdvisorShares Ranger Equity Bear ETF (HDGE) – Up 3.8%
The AdvisorShares Ranger Equity Bear ETF seeks capital appreciation through short sales of domestically traded equity securities. The expense ratio of 4.29%.
AdvisorShares Dorsey Wright Short ETF (DWSH) – Up 3.8%
The AdvisorShares Dorsey Wright Short ETF is actively-managed with an investment focus that involves buying securities that have appreciated in price more than the other securities in the investment universe and holding those securities until they underperform. The expense ratio of 2.77%.
(We are reissuing this article to correct a mistake. The original article, issued on Sep 11, 2023, should no longer be relied upon.)
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Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
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Apple Inc. (AAPL) : Free Stock Analysis Report
AdvisorShares Ranger Equity Bear ETF (HDGE): ETF Research Reports
Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports
AdvisorShares Dorsey Wright Short ETF (DWSH): ETF Research Reports
Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports
Roundhill Cannabis ETF (WEED): 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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The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report AdvisorShares Ranger Equity Bear ETF (HDGE): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports AdvisorShares Dorsey Wright Short ETF (DWSH): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports Roundhill Cannabis ETF (WEED): ETF Research Reports To read this article on Zacks.com click here. The S&P 500 (down 1.3%), the Dow Jones (down 0.8%), the Nasdaq (down 1.9%) and the Russell 2000 (down 3.6%) – all slumped last week (read: A Guide to Higher Interest Rates and ETFs).
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report AdvisorShares Ranger Equity Bear ETF (HDGE): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports AdvisorShares Dorsey Wright Short ETF (DWSH): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports Roundhill Cannabis ETF (WEED): ETF Research Reports To read this article on Zacks.com click here. The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. Simplify Tail Risk Strategy ETF (CYA) – Up 7.1% The Simplify Tail Risk Strategy ETF seeks to provide investors with a standalone solution for hedging diversified portfolios against severe equity market selloffs.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report AdvisorShares Ranger Equity Bear ETF (HDGE): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports AdvisorShares Dorsey Wright Short ETF (DWSH): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports Roundhill Cannabis ETF (WEED): ETF Research Reports To read this article on Zacks.com click here. The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. ETFs in Focus Roundhill Cannabis ETF (WEED) – Up 22.1% The Roundhill Cannabis ETF is designed to offer investors exposure to the cannabis sector.
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The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report AdvisorShares Ranger Equity Bear ETF (HDGE): ETF Research Reports Breakwave Dry Bulk Shipping ETF (BDRY): ETF Research Reports AdvisorShares Dorsey Wright Short ETF (DWSH): ETF Research Reports Simplify Tail Risk Strategy ETF (CYA): ETF Research Reports Roundhill Cannabis ETF (WEED): ETF Research Reports To read this article on Zacks.com click here. The expense ratio of the fund is 3.50%.
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13743.0
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2023-09-12 00:00:00 UTC
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US takes on Google in much-anticipated antitrust trial
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AAPL
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https://www.nasdaq.com/articles/us-takes-on-google-in-much-anticipated-antitrust-trial
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nan
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nan
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By Diane Bartz
WASHINGTON, Sept 12 (Reuters) - The United States will argue on Tuesday that Google GOOGL.O did not play by the rules in its efforts to dominate online search, as a trial seen as a battle for the soul of the internet gets underway before a federal judge in Washington.
The U.S. Justice Department is expected to detail how Google paid billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine atop the leader board.
Google's defense is simple: It will argue that its overwhelmingly high market share is not because it broke the law, but because it is a fast, effective search engine. It is also free.
Consumers, Google's lawyers will argue, can delete the Google app from their devices or simply type Microsoft's Bing, Yahoo or DuckDuckGo into a browser to use an alternative search engine. They will argue that consumers stick with Google because they rely on it to answer questions and are not disappointed.
The trial, which begins with opening arguments on Tuesday and is expected to run up to 10 weeks, has two phases. In the first, Judge Amit Mehta will decide if Google has broken antitrust law in how it manages search and search advertising.
If Google is found to have broken the law, Judge Mehta will then decide how best to resolve it. He may decide simply to order Google to stop practices he has found to be illegal or he may order Google to sell assets.
The government, in its complaint, asked for "structural relief as needed" but did not define it.
The legal fight has huge implications for Big Tech, which has been accused of buying or strangling small competitors but has insulated itself against many accusations of breaking antitrust law because the services the companies provide to users are free, as in the case of Google, or inexpensive, as in the case of Amazon.com AMZN.O.
Previous major antitrust trials include Microsoft, filed in 1998, and AT&T, filed in 1974. The AT&T breakup in 1982 is credited with paving the way for the modern cell phone industry, while the fight with Microsoft is credited with opening space for Google and others on the internet.
(Reporting by Diane Bartz; Editing by Jamie Freed)
((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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The U.S. Justice Department is expected to detail how Google paid billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine atop the leader board. By Diane Bartz WASHINGTON, Sept 12 (Reuters) - The United States will argue on Tuesday that Google GOOGL.O did not play by the rules in its efforts to dominate online search, as a trial seen as a battle for the soul of the internet gets underway before a federal judge in Washington. Google's defense is simple: It will argue that its overwhelmingly high market share is not because it broke the law, but because it is a fast, effective search engine.
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The U.S. Justice Department is expected to detail how Google paid billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine atop the leader board. In the first, Judge Amit Mehta will decide if Google has broken antitrust law in how it manages search and search advertising. If Google is found to have broken the law, Judge Mehta will then decide how best to resolve it.
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The U.S. Justice Department is expected to detail how Google paid billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine atop the leader board. By Diane Bartz WASHINGTON, Sept 12 (Reuters) - The United States will argue on Tuesday that Google GOOGL.O did not play by the rules in its efforts to dominate online search, as a trial seen as a battle for the soul of the internet gets underway before a federal judge in Washington. Consumers, Google's lawyers will argue, can delete the Google app from their devices or simply type Microsoft's Bing, Yahoo or DuckDuckGo into a browser to use an alternative search engine.
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The U.S. Justice Department is expected to detail how Google paid billions of dollars annually to device makers like Apple Inc AAPL.O, wireless companies like AT&T T.N and browser makers like Mozilla to keep Google's search engine atop the leader board. By Diane Bartz WASHINGTON, Sept 12 (Reuters) - The United States will argue on Tuesday that Google GOOGL.O did not play by the rules in its efforts to dominate online search, as a trial seen as a battle for the soul of the internet gets underway before a federal judge in Washington. Consumers, Google's lawyers will argue, can delete the Google app from their devices or simply type Microsoft's Bing, Yahoo or DuckDuckGo into a browser to use an alternative search engine.
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13744.0
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2023-09-12 00:00:00 UTC
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3 Stocks to Watch From the Challenging Computer Industry
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AAPL
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https://www.nasdaq.com/articles/3-stocks-to-watch-from-the-challenging-computer-industry
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nan
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nan
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The Zacks Computer – Mini Computers industry is suffering from the waning demand for consumer PCs, massive supply-chain issues and geopolitical challenges, including raging inflation and high interest. Nevertheless, strong demand for high-end enterprise laptops is benefiting Apple AAPL and HP HPQ. Steady demand for 3-D printing is aiding 3D Systems DDD. The improving availability of 5G-enabled smartphones has been a key catalyst for industry participants. The growing adoption of tablets among enterprises bodes well for companies like Apple and Lenovo. The launch of foldable, and AI and ML-infused smartphones, tablets, wearables and hearables is another major growth driver for industry participants. Robust demand for production printers, materials and software bodes well for 3-D printing solution providers.
Industry Description
The Zacks Computer – Mini Computers industry comprises companies that offer smartphones, desktops, laptops, printers, wearables and 3-D printers. Such devices are based either on iOS, MacOS, iPadOS, WatchOS, Microsoft Windows or Google Chrome and Android operating systems. The companies predominantly use processors from Apple, Intel, AMD, Qualcomm, NVIDIA and Samsung. Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones. This has been well-supported by faster mobile processors. Laptops, both consumer and commercial, benefit from faster processors, sleek designs and expanded storage facilities. The addition of healthcare features has been driving the demand for wearables.
3 Mini Computer Industry Trends to Watch
Enterprise Adoption Remains Healthy: Strong enterprise demand has been benefiting industry participants. The industry is benefiting from the rapid adoption of Bring Your Own Device (BYOD) in workplaces. Enterprises practicing BYOD allow employees to use their personal devices, including mobiles, laptops and tablets, for work purposes. Moreover, the growing adoption of a hybrid working environment bodes well for industry participants, as demand for laptops and tablets is expected to increase. Demand for smart devices that offer facial recognition, retina scans, or finger impressions to verify the user for biometrics is gaining traction as enterprises enhance security.
Impressive Form Factor Drives Demand: Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones and tablets. This has been well-supported by faster mobile processors from the likes of Qualcomm, NVIDIA, Apple and Samsung. Improved Internet penetration and speed, along with the evolution of mobile apps, have made smartphones indispensable for consumers. Improved graphics quality is making smartphones suitable for playing sophisticated games. This is driving demand for high-end smartphones and opening up significant opportunities for device makers.
PCs Face Extinction Risk: Personal computers (desktops and laptops), be it Windows or Apple’s MacOS-based ones, have been facing the risk of extinction due to the rapid proliferation of smartphones and tablets. Stiff competition from smartphones has compelled global PC makers to not only upgrade hardware frequently but also add apps and cloud-based services to attract consumers. Nevertheless, the emergence of 5G, AI, machine learning and foldable computers is likely to be the key catalysts in expanding the total addressable market of PCs.
Zacks Industry Rank Indicates Dim Prospects
The Zacks Computer – Mini Computers industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #196, which places it in the bottom 22% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates dim near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
The industry’s position in the bottom 50% of the Zacks-ranked industries is a result of a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are pessimistic about this group’s earnings growth potential. Since Sep 30, 2022, the Zacks Consensus Estimate for this industry’s 2023 earnings has moved down 6.6%.
Despite the gloomy outlook, there are a few stocks worth watching in the sector. But before we present those stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.
Industry Lags Sector Beats S&P 500
The Zacks Computer – Mini Computers industry has underperformed the broader Zacks Computer and Technology sector but beat the S&P 500 index over the past year.
The industry has surged 16.4% over this period compared with the S&P 500’s return of 14.5% and the broader sector’s growth of 27.5%.
One-Year Price Performance
Industry's Current Valuation
On the basis of forward 12-month P/E, which is a commonly used multiple for valuing computer stocks, we see that the industry is currently trading at 26.65X compared with the S&P 500’s 19.30X and the sector’s 24.17X.
Over the last five years, the industry has traded as high as 32.32X and as low as 11.49X, with the median being 23.64X, as the chart below shows.
Forward 12-Month Price-to-Earnings (P/E) Ratio
3 Computer Stocks to Watch Right Now
3D Systems DDD – This Zacks Rank #2 (Buy) company benefits from strong orthodontics, healthcare and industrial businesses. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The healthcare business is benefiting from the emergence of Virtual Surgical Planning and Orthopedic applications. 3D Systems is expected to benefit from dominance in the aerospace & defense market. Its partnership with Theradaptive boosts the addressable market. 3D Systems’ prospects are also expected to benefit from its initiatives related to Regenerative Medicine.
The Zacks Consensus Estimate for 2023 loss has widened by a couple of cents to 22 cents per share over the past 30 days. The stock has declined 31.9% in the year-to-date period.
Price and Consensus: DDD
Apple: This Zacks Rank #3 (Hold) company is benefiting from steady demand for iPhone 14 and 14 Plus, as well as expanding footprint in emerging markets. A growing subscriber base and improving customer engagement are tailwinds for the services business.
Apple currently has more than 1 billion paid subscribers across its Services portfolio. The App Store continues to draw the attention of prominent developers worldwide, helping it offer appealing new apps that drive the App Store’s traffic. A growing number of AI-infused apps will attract subscribers to the App Store.
The Zacks Consensus Estimate for fiscal 2023 earnings has increased by a penny to $6.05 per share over the past 30 days. The stock has gained 38% in the year-to-date period.
Price and Consensus: AAPL
HP: This Zacks Rank #3 company’s sustained focus on launching the latest and innovative products is likely to help it stay afloat in the current uncertain macroeconomic environment.
Product innovation and differentiations are the key drivers that have helped HPQ maintain its leading position in the PC and printer markets.
The Zacks Consensus Estimate for fiscal 2023 earnings has decreased 11.4% to $3.31 per share over the past 30 days. Shares of HP have gained 10% year to date.
Price and Consensus: HPQ
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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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Price and Consensus: AAPL HP: This Zacks Rank #3 company’s sustained focus on launching the latest and innovative products is likely to help it stay afloat in the current uncertain macroeconomic environment. Nevertheless, strong demand for high-end enterprise laptops is benefiting Apple AAPL and HP HPQ. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click 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 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Nevertheless, strong demand for high-end enterprise laptops is benefiting Apple AAPL and HP HPQ. Price and Consensus: AAPL HP: This Zacks Rank #3 company’s sustained focus on launching the latest and innovative products is likely to help it stay afloat in the current uncertain macroeconomic environment.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Nevertheless, strong demand for high-end enterprise laptops is benefiting Apple AAPL and HP HPQ. Price and Consensus: AAPL HP: This Zacks Rank #3 company’s sustained focus on launching the latest and innovative products is likely to help it stay afloat in the current uncertain macroeconomic environment.
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Nevertheless, strong demand for high-end enterprise laptops is benefiting Apple AAPL and HP HPQ. Price and Consensus: AAPL HP: This Zacks Rank #3 company’s sustained focus on launching the latest and innovative products is likely to help it stay afloat in the current uncertain macroeconomic environment. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here.
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13745.0
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2023-09-12 00:00:00 UTC
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Apple Stock: Time to Buy the Dip?
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AAPL
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https://www.nasdaq.com/articles/apple-stock%3A-time-to-buy-the-dip
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nan
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nan
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Shares of Apple (NASDAQ: AAPL) have taken a big hit in recent weeks, pulling back about 9% since Aug. 1. The decline is likely due to a combination of factors, including shares taking a breather after a huge run-up this year and concerns about China's move to ban iPhones at some of its central government agencies.
Is the stock's slide a buying opportunity or a red flag signaling underlying problems that could be bad news for investors? One analyst is telling investors this week that the stock's decline has gone too far, presenting an attractive buying opportunity.
The path to $215
Morgan Stanley analyst Erik Woodring was the market's bold contrarian last week. Following a two-day 6% slide in the iPhone maker's stock as investors worried that the ban of iPhones at some central government agencies could be expanded, the analyst reiterated a $215 price target for the stock and said its pullback on China worries had been overdone.
The timely note to investors is notable both for its contrarian view and the significant upside that's implied by the price target for the tech stock. The $215 12-month price target would translate to a gain of about 20% -- and that would be on top of a 38% year-to-date gain.
To back his contrarian view, Woodring emphasized that the risk of China becoming more nationalistic toward Apple isn't new. Furthermore, the analyst says that banning the iPhone would be an unwise move for the country since Apple's business in the market is central to the country's economy.
Apple's main iPhone supplier, Foxconn, actually earns most of its revenue from assets in China, employing hundreds of thousands of people in the country. In addition, there are about 50 Apple stores in China, located in important areas with high foot traffic.
These facts only scratch the surface of Apple's importance in the country. The company's third-party app store, for instance, supports small businesses all over the world, including developers in China; and its supply chain is sprawling and global, including many different suppliers with employees in China.
Woodring is probably right: A nationwide ban on iPhones in the important market is unlikely. Of course, it's always a risk worth keeping an eye on.
Looking beyond this concern, Morgan Stanley's $215 price target is also based on the analyst's optimistic expectations for the new iPhone models expected to be launched this week. Woodring believes there's pent-up demand for the latest version that could drive a better-than-expected upgrade cycle from consumers.
A premium valuation for a quality company
While Woodring might be the contrarian in the short term, bullishness toward Apple stock is nothing new in the span of the last eight months. Shares have surged this year, crushing the S&P 500's 16% gain by more than 20 percentage points. This means that even after the stock's pullback, it is still trading at a premium price-to-earnings multiple of 30.
But shares are worth paying up for. With a net cash position on its balance sheet of $57 billion, around $100 billion in annual free cash flow, prudent capital allocation, a loyal customer base, and a long history of successfully bringing new products and entirely new product categories to market, Apple is arguably among the most attractive stocks in the S&P 500, despite its already gargantuan size. While there's no way to know where the bottom of this pullback is, shares look like a good long-term investment.
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Daniel Sparks has no position in any of the stocks mentioned. His clients may own shares of the companies 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 taken a big hit in recent weeks, pulling back about 9% since Aug. 1. The decline is likely due to a combination of factors, including shares taking a breather after a huge run-up this year and concerns about China's move to ban iPhones at some of its central government agencies. Apple's main iPhone supplier, Foxconn, actually earns most of its revenue from assets in China, employing hundreds of thousands of people in the country.
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Shares of Apple (NASDAQ: AAPL) have taken a big hit in recent weeks, pulling back about 9% since Aug. 1. The path to $215 Morgan Stanley analyst Erik Woodring was the market's bold contrarian last week. Following a two-day 6% slide in the iPhone maker's stock as investors worried that the ban of iPhones at some central government agencies could be expanded, the analyst reiterated a $215 price target for the stock and said its pullback on China worries had been overdone.
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Shares of Apple (NASDAQ: AAPL) have taken a big hit in recent weeks, pulling back about 9% since Aug. 1. Following a two-day 6% slide in the iPhone maker's stock as investors worried that the ban of iPhones at some central government agencies could be expanded, the analyst reiterated a $215 price target for the stock and said its pullback on China worries had been overdone. 10 stocks we like better than Apple When our analyst team has a stock tip, it can pay to listen.
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Shares of Apple (NASDAQ: AAPL) have taken a big hit in recent weeks, pulling back about 9% since Aug. 1. The decline is likely due to a combination of factors, including shares taking a breather after a huge run-up this year and concerns about China's move to ban iPhones at some of its central government agencies. To back his contrarian view, Woodring emphasized that the risk of China becoming more nationalistic toward Apple isn't new.
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13746.0
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2023-09-12 00:00:00 UTC
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Top Stocks To Buy Today? 3 Tech Stocks To Know
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AAPL
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https://www.nasdaq.com/articles/top-stocks-to-buy-today-3-tech-stocks-to-know
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nan
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nan
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The tech sector, in simple terms, is like the engine room of our modern world. It encompasses a range of companies that create computers, software, electronics, and other products or services related to technology. These companies often lead the charge in innovation, regularly introducing us to groundbreaking gadgets, apps, or platforms that transform how we live, work, and play.
For those interested in the stock market, tech stocks can be both exciting and challenging. These stocks represent businesses at the forefront of tomorrow’s biggest trends, from AI to 5G connectivity. When you invest in tech stocks, you’re essentially placing a bet on the future, hoping these companies will continue to grow and dominate their fields.
However, because technology changes rapidly, these stocks can also be unpredictable. Still, with the right research and understanding, tech stocks offer the potential for significant growth and returns. Considering this, let’s look at three large-cap tech stocks to keep an eye on in thestock market today
Tech Stocks To Buy [Or Avoid] Today
Microsoft Corporation (NASDAQ: MSFT)
Apple Inc. (NASDAQ: AAPL)
Amazon.com Inc. (NASDAQ: AMZN)
Microsoft (MSFT Stock)
First, Microsoft Corporation (MSFT) stands as a global technology leader, offering a broad suite of products and services, including its renowned Windows operating system, Microsoft Office suite, and cloud solutions through Azure. Its advancements in AI, machine learning, and enterprise solutions position it as a key player in the modern tech landscape.
Back in July, Microsoft shared its financial results for the fourth quarter of 2023. The company reported a revenue of $56.19 billion and earnings of $2.69 per share, surpassing the anticipated predictions of analysts’ which stood at earnings of $2.54 per share and revenue of $55.44 billion. Additionally, this represents an 8.34% increase in revenue when compared to the same timeframe the year prior.
In the last month of trading, shares of MSFT stock are trading higher by 3.02%. Meanwhile, during Tuesday’s trading session, Microsoft stock is trading lower off the open by 1.23% so far, trading at $333.75 a share.
Source: TD Ameritrade TOS
[Read More] Best Stocks To Invest In Right Now? 2 EV Stocks For Your September List
Apple (AAPL Stock)
Next, Apple Inc. (AAPL) is recognized for its innovative consumer electronics and software. With products like the iPhone, iPad, and the Mac, the company continues to shape the tech industry, complemented by its software ecosystem which includes iOS, macOS, and the App Store.
Last month, Apple reported better-than-expected third-quarter 2023 financial results. In detail, the company announced earnings of $1.26 per share, with revenue of $81.80 billion. This is compared with Wall Street’s consensus estimates for the quarter which were earnings of $1.19 per share and revenue of $72.81 billion.
Looking at the last month of trading action, shares of AAPL stock are pulled back modestly by 1.57%. With that, during Tuesday morning’s trading session, Apple stock opened the day down by 1.45%, trading at $176.76 a share.
Source: TD Ameritrade TOS
[Read More] 3 Blue Chip Stocks To Watch In The Stock Market Today
Amazon (AMZN Stock)
Last but not least, Amazon.com Inc. (AMZN) has transformed from an online retail platform into a global e-commerce and cloud computing powerhouse. Its expansive range of services now includes AWS, one of the leading cloud service providers, Prime Video for streaming, and a plethora of consumer-focused technologies and services.
Just today, Tuesday, Amazon announced its new “Supply Chain by Amazon” at its annual Accelerate conference. This all-in-one service provides sellers with a streamlined process to transport products from manufacturers directly to global customers. Amazon will handle logistics, including international shipping, customs, and storage. This allows sellers to concentrate on product development and business growth, while Amazon ensures quick deliveries and cost-efficient operations, benefiting both the seller and the end customer.
Over the last month of trading action, Amazon stock is trading slightly higher by 0.50%. While, on Tuesday morning, shares of AMZN stock opened lower by 1.28%, currently trading at $141.31 a share.
Source: TD Ameritrade TOS
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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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Considering this, let’s look at three large-cap tech stocks to keep an eye on in thestock market today Tech Stocks To Buy [Or Avoid] Today Microsoft Corporation (NASDAQ: MSFT) Apple Inc. (NASDAQ: AAPL) Amazon.com Inc. (NASDAQ: AMZN) Microsoft (MSFT Stock) First, Microsoft Corporation (MSFT) stands as a global technology leader, offering a broad suite of products and services, including its renowned Windows operating system, Microsoft Office suite, and cloud solutions through Azure. 2 EV Stocks For Your September List Apple (AAPL Stock) Next, Apple Inc. (AAPL) is recognized for its innovative consumer electronics and software. Looking at the last month of trading action, shares of AAPL stock are pulled back modestly by 1.57%.
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Considering this, let’s look at three large-cap tech stocks to keep an eye on in thestock market today Tech Stocks To Buy [Or Avoid] Today Microsoft Corporation (NASDAQ: MSFT) Apple Inc. (NASDAQ: AAPL) Amazon.com Inc. (NASDAQ: AMZN) Microsoft (MSFT Stock) First, Microsoft Corporation (MSFT) stands as a global technology leader, offering a broad suite of products and services, including its renowned Windows operating system, Microsoft Office suite, and cloud solutions through Azure. 2 EV Stocks For Your September List Apple (AAPL Stock) Next, Apple Inc. (AAPL) is recognized for its innovative consumer electronics and software. Looking at the last month of trading action, shares of AAPL stock are pulled back modestly by 1.57%.
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Considering this, let’s look at three large-cap tech stocks to keep an eye on in thestock market today Tech Stocks To Buy [Or Avoid] Today Microsoft Corporation (NASDAQ: MSFT) Apple Inc. (NASDAQ: AAPL) Amazon.com Inc. (NASDAQ: AMZN) Microsoft (MSFT Stock) First, Microsoft Corporation (MSFT) stands as a global technology leader, offering a broad suite of products and services, including its renowned Windows operating system, Microsoft Office suite, and cloud solutions through Azure. 2 EV Stocks For Your September List Apple (AAPL Stock) Next, Apple Inc. (AAPL) is recognized for its innovative consumer electronics and software. Looking at the last month of trading action, shares of AAPL stock are pulled back modestly by 1.57%.
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Considering this, let’s look at three large-cap tech stocks to keep an eye on in thestock market today Tech Stocks To Buy [Or Avoid] Today Microsoft Corporation (NASDAQ: MSFT) Apple Inc. (NASDAQ: AAPL) Amazon.com Inc. (NASDAQ: AMZN) Microsoft (MSFT Stock) First, Microsoft Corporation (MSFT) stands as a global technology leader, offering a broad suite of products and services, including its renowned Windows operating system, Microsoft Office suite, and cloud solutions through Azure. 2 EV Stocks For Your September List Apple (AAPL Stock) Next, Apple Inc. (AAPL) is recognized for its innovative consumer electronics and software. Looking at the last month of trading action, shares of AAPL stock are pulled back modestly by 1.57%.
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13747.0
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2023-09-12 00:00:00 UTC
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3 Invesco ETFs to Get Apple Exposure
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AAPL
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https://www.nasdaq.com/articles/3-invesco-etfs-to-get-apple-exposure
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nan
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nan
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There are hundreds of ETFs that hold Apple, giving investors many ways to get exposure to the security.
Apple Inc. (AAPL) is set to unveil new products during its annual September event held on Apple’s campus on Tuesday, starting at 1pm. The company is expected to reveal the iPhone 15 lineup, new versions of the Apple Watch, and possibly AirPods.
As investors await the highly anticipated fall event, here are three Invesco ETFs providing Apple exposure to consider
1. Invesco S&P 500 Top 50 ETF (XLG)
Apple is the top holding in XLG, weighted 12.4%. XLG offers the greatest exposure to Apple across the range of Invesco ETFs. This fund offers exposure to the 50 largest securities by market capitalization in the Russell 3000 universe.
Effectively, XLG delivers concentrated exposure to U.S. mega-cap stocks, something investors have increasingly sought as mega-caps impressively beat the broader market during the first half.
The fund giant has $2.5 billion in assets and charges 20 basis points.
2. Invesco S&P 500 QVM Multi-factor ETF (QVML)
Apple is also the top holding in QVML, weighted 8.1%. QVML is based on the S&P 500 Quality, Value & Momentum Top 90% Multi-factor Index.
The quality score is based on a stock’s return-on-equity, accruals ratio, and financial leverage ratio. Meanwhile, the value score is based on book value-to-price ratio, earnings-to-price ratio, and sales-to-price ratio. Finally, the momentum score is based on the risk-adjusted price performance of that stock as compared to other eligible securities.
The fund has $840 million in assets and charges just 11 basis points.
3. Invesco Next Gen Connectivity ETF (KNCT)
Apple is the second largest holding in KNCT, weighted 7.8%, trailing Broadcom Inc. (AVGO).
KNCT is based on the STOXX World AC NexGen Connectivity Index. KNCT’s underlying index is comprises companies with significant exposure to technologies or products that contribute to future connectivity through direct revenue.
The fund has $38 million in assets and charges 63 basis points.
For more news, information, and analysis, visit the Innovative ETFs 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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Apple Inc. (AAPL) is set to unveil new products during its annual September event held on Apple’s campus on Tuesday, starting at 1pm. As investors await the highly anticipated fall event, here are three Invesco ETFs providing Apple exposure to consider 1. Finally, the momentum score is based on the risk-adjusted price performance of that stock as compared to other eligible securities.
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Apple Inc. (AAPL) is set to unveil new products during its annual September event held on Apple’s campus on Tuesday, starting at 1pm. Invesco S&P 500 Top 50 ETF (XLG) Apple is the top holding in XLG, weighted 12.4%. Invesco S&P 500 QVM Multi-factor ETF (QVML) Apple is also the top holding in QVML, weighted 8.1%.
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Apple Inc. (AAPL) is set to unveil new products during its annual September event held on Apple’s campus on Tuesday, starting at 1pm. Invesco S&P 500 Top 50 ETF (XLG) Apple is the top holding in XLG, weighted 12.4%. Invesco S&P 500 QVM Multi-factor ETF (QVML) Apple is also the top holding in QVML, weighted 8.1%.
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Apple Inc. (AAPL) is set to unveil new products during its annual September event held on Apple’s campus on Tuesday, starting at 1pm. Invesco S&P 500 Top 50 ETF (XLG) Apple is the top holding in XLG, weighted 12.4%. QVML is based on the S&P 500 Quality, Value & Momentum Top 90% Multi-factor Index.
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13748.0
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2023-09-12 00:00:00 UTC
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Billionaire Investors Are Loading Up on Apple Stock. Should You?
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AAPL
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https://www.nasdaq.com/articles/billionaire-investors-are-loading-up-on-apple-stock.-should-you
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nan
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nan
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The bigger they are, the more they attract each other. That's how gravity works in the physical world. It's why the moon revolves around the Earth and affects our ocean tides.
Gravity sometimes seems to apply to the investing world, too. Big stocks often attract the biggest investors. That's certainly the case with Apple (NASDAQ: AAPL).
Billionaires are loading up on the tech stock. Should you?
Attracting deep-pocketed investors
The net worth of contrarian investor David Tepper currently stands at close to $20.6 billion. His Appaloosa Management is one of the most successful hedge funds ever. At the beginning of 2023, Tepper didn't own a single share of Apple.
That changed in a big way in the second quarter. Tepper's hedge fund bought 480,000 shares of Apple valued at more than $93.1 million at the end of Q2.
Paul Tudor Jones' Tudor Investments already have a sizable position in Apple coming into this year. However, Jones (who's worth more than $8 billion) definitely wanted more. He increased his stake in Apple by 90% in Q2.
Jim Simons could be called the king of the quants. He's worth $30.7 billion thanks to his longtime success at Renaissance Technologies. The hedge fund Simon founded increased its position in Apple by more than 514x during Q2.
Of course, we can't leave out Warren Buffett. No, the Oracle of Omaha didn't add to Berkshire Hathaway's stake in Apple during Q2. However, Berkshire did pick up 2.3% more Apple shares in the first quarter of 2023. Most importantly, Buffett isn't selling Apple at all. The tech stock remains the top holding in Berkshire's portfolio by far.
Why buy Apple stock?
Should you buy Apple just because these well-known investors have loaded up on the stock? No. However, when four multibillionaires with different investing styles all like the same stock, it should at minimum prompt retail investors to take a hard look at it.
Apple's iPhone ecosystem remains the best in the business. The company's installed base of active devices hit a record high in the quarter ending July 1, in every geographical segment. Apple's services revenue set an all-time high during the quarter.
The tech giant continues to share its success with investors. In the latest quarter, Apple returned more than $24 billion to shareholders in the form of dividends and stock buybacks.
Steve Jobs, the co-founder and former CEO of Apple who passed away in 2011, famously repeated the same line at Apple's product showcases: "One more thing..." I think Apple's ongoing "one more thing" just might be the best reason to buy the stock.
Vision Pro could be Apple's next big thing. In the company's latest quarterly update, CEO Tim Cook called the mixed-reality headset "the most advanced personal electronic device ever created."
But I wouldn't be surprised if artificial intelligence (AI) is Apple's next game changer. The company hasn't been in the AI limelight as some have this year. However, Apple is reportedly developing its own Ajax generative AI model that could change that dynamic.
The arguments against Apple
There are several arguments against buying Apple stock, though. For one thing, sales of its iPhone, iPad, and Mac products are declining. Many on Wall Street project slower growth over the next five years than Apple delivered over the previous five years.
Meanwhile, Apple's valuation is sky-high. Its shares currently trade at nearly 27 times expected earnings. That's not an encouraging sign with the company's lower growth outlook.
Then there's the uncertainty in China, which recently banned government officials from using iPhones. Should the country take further steps against Apple, it would be very problematic. The company generated nearly 20% of its total revenue in China last year.
Siding with the billionaires
My personal view is that Apple stock remains a buy, albeit not as compelling of one as it's been in the past. I think that the stock could pull back further over the short term because of the aforementioned issues. However, Apple should be a good long-term pick.
I don't expect the China situation to worsen significantly. Apple has new products on the way that could reverse its sales decline. And the company remains an innovation engine. There are other stocks that could deliver greater gains than Apple, but put me on the side of the billionaires with this stock.
10 stocks we like better than Apple
When our analyst team has a stock 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 Apple 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 5, 2023
Keith Speights has positions in Apple and Berkshire Hathaway. 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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That's certainly the case with Apple (NASDAQ: AAPL). The company's installed base of active devices hit a record high in the quarter ending July 1, in every geographical segment. In the company's latest quarterly update, CEO Tim Cook called the mixed-reality headset "the most advanced personal electronic device ever created."
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That's certainly the case with Apple (NASDAQ: AAPL). Paul Tudor Jones' Tudor Investments already have a sizable position in Apple coming into this year. The hedge fund Simon founded increased its position in Apple by more than 514x during Q2.
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That's certainly the case with Apple (NASDAQ: AAPL). Steve Jobs, the co-founder and former CEO of Apple who passed away in 2011, famously repeated the same line at Apple's product showcases: "One more thing..." I think Apple's ongoing "one more thing" just might be the best reason to buy the stock. The arguments against Apple There are several arguments against buying Apple stock, though.
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That's certainly the case with Apple (NASDAQ: AAPL). However, Berkshire did pick up 2.3% more Apple shares in the first quarter of 2023. The company hasn't been in the AI limelight as some have this year.
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13749.0
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2023-09-12 00:00:00 UTC
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3 Defensive Stocks That Will Outperform the Market Over the Next 10 Years
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AAPL
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https://www.nasdaq.com/articles/3-defensive-stocks-that-will-outperform-the-market-over-the-next-10-years
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Stocks are holding up well thus far in 2023 after a strong rally. However, historically, September is a challenging month for the market. Now may be a good time for investors to be selective and consider defensive stocks.
Companies operating in defensive industries provide investors with relative safety due to many factors. These companies may operate in sectors with very stable demand, unlikely to falter in macro headwinds. Or, they could have some massive moats around their integrated supply chains or vertical business models. In either case, such defensive stocks are great holdings for investors when times get tough. For those who think we may head into a recession in the next couple of years, there’s significant value to holding such stocks right now.
Indeed, the valuations of the companies on this list aren’t at rock-bottom levels. That’s for good reason. Plenty of investors see the value in holding these defensive stocks. That said, for those thinking we may be due for some pain ahead, these are the stocks I believe are worth sticking with.
Restaurant Brands International (QSR)
Source: Shutterstock
One month after reporting Q2 earnings, Restaurant Brands International (NYSE:QSR) is down nearly 10%, significantly underperforming the S&P 500. The company’s Q2 adjusted earnings per share came in at 85 cents, up 3.7% from last year. Additionally, quarterly net revenues of $1,775 million exceeded the consensus estimate of $1,746 million, an 8.3% year-over-year increase. Higher sales at Tim Hortons, Burger King, Popeyes and Firehouse Subs drove that growth, offset in part by unfavorable FX rates. Global system-wide sales rose 14% during the quarter.
The company’s decline was likely due to investors stepping away from a valuation multiple that may look relatively expensive. That said, it’s my view the company’s valuation is reasonable, considering its relative defensive positioning in this market.
Restaurant Brands aims to expand its brands globally, opening 169 new restaurants in Q2, contributing to a 4.1% year-over-year growth. It’s expanding globally, with its first overseas Firehouse in Zurich, Switzerland, and targets 40,000 locations. Restaurant Brands is my top choice and the biggest part of my portfolio, offering growth, income and value with a 3.18% dividend yield.
Berkshire Hathaway (BRK-B)
Source: IgorGolovniov / Shutterstock.com
Berkshire Hathaway (NYSE:BRK-B), led by the one and only Warren Buffett, is a conglomerate with an impressive portfolio of global holdings. The company, led by Buffett, picks its long-term positions via a value investing philosophy. Berkshire holds significant stakes in American Express (NYSE:AXP), Apple (NASDAQ:AAPL) and Coca-Cola (NYSE:KO) — among others. In Q2, Berkshire Hathaway exited positions in McKesson (NYSE:MCK) and Marsh & McLennan (NYSE:MMC) while opening new positions in homebuilder stocks, notably D.R. Horton (NYSE:DHI), NVR (NYSE:NVR) and Lennar (NYSE:LEN). Warren Buffett also increased holdings in Capital One Financial (NYSE:COF) but reduced positions in Activision Blizzard (NASDAQ:ATVI) and General Motors (NYSE:GM).
At 93, Warren Buffett remains active, and his company is at an all-time high, with strong Q2 results and savvy stock picks. Berkshire’s diverse businesses ensure earnings stability. Q2 earnings grew 6.6%, boosted by insurance investments. The stock’s premium is justified by Buffett’s track record.
Buffett excels at seizing investment opportunities. High interest rates boosted returns on Berkshire Hathaway’s cash pile. Buffett made strategic investments in major U.S. home builders to capitalize on the housing market. His knack for smart investments reaffirms his success, and I expect his team will continue this performance over the long term.
Duke Energy (DUK)
Source: Jonathan Weiss / Shutterstock.com
Duke Energy (NYSE:DUK) is among the leading utility companies in the market. For investors seeking relative stability, utility stocks are a great place to start. These companies typically provide very stable income because customers can’t really stop paying their bills. So, even in times of trouble, these companies are able to pay out impressive dividends and retain their valuations.
Duke has been doing just that, recently increasing its dividend to $1.02. Currently, this distribution translates into a yield of 4.4%, roughly in line with the industry average. However, its high payout ratio raises sustainability concerns. I think the company’s future earnings per share growth will support a lower payout ratio, though time will tell if I’m right.
As mentioned, utilities like Duke Energy are often considered recession-resistant due to consistent demand and regulation. Duke’s stock weathered 2022 well, declining only 2%.
Duke Energy’s Q2 revenue exceeded expectations at $6.58 billion, reaffirming its 2023 earnings-per-share guidance with 5% to 7% projected growth. Also, the stock is cheap and well-positioned. It remains among my top utilities picks right now.
On the date of publication, Chris MacDonald has a long position in QSR, BRK-B. 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 Defensive Stocks That Will Outperform the Market Over the Next 10 Years 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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Berkshire holds significant stakes in American Express (NYSE:AXP), Apple (NASDAQ:AAPL) and Coca-Cola (NYSE:KO) — among others. Higher sales at Tim Hortons, Burger King, Popeyes and Firehouse Subs drove that growth, offset in part by unfavorable FX rates. 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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Berkshire holds significant stakes in American Express (NYSE:AXP), Apple (NASDAQ:AAPL) and Coca-Cola (NYSE:KO) — among others. Restaurant Brands International (QSR) Source: Shutterstock One month after reporting Q2 earnings, Restaurant Brands International (NYSE:QSR) is down nearly 10%, significantly underperforming the S&P 500. Berkshire Hathaway (BRK-B) Source: IgorGolovniov / Shutterstock.com Berkshire Hathaway (NYSE:BRK-B), led by the one and only Warren Buffett, is a conglomerate with an impressive portfolio of global holdings.
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Berkshire holds significant stakes in American Express (NYSE:AXP), Apple (NASDAQ:AAPL) and Coca-Cola (NYSE:KO) — among others. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Stocks are holding up well thus far in 2023 after a strong rally. Berkshire Hathaway (BRK-B) Source: IgorGolovniov / Shutterstock.com Berkshire Hathaway (NYSE:BRK-B), led by the one and only Warren Buffett, is a conglomerate with an impressive portfolio of global holdings.
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Berkshire holds significant stakes in American Express (NYSE:AXP), Apple (NASDAQ:AAPL) and Coca-Cola (NYSE:KO) — among others. That said, it’s my view the company’s valuation is reasonable, considering its relative defensive positioning in this market. Restaurant Brands is my top choice and the biggest part of my portfolio, offering growth, income and value with a 3.18% dividend yield.
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13750.0
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2023-09-12 00:00:00 UTC
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What Qualcomm, TSMC, Nvidia, and Other Semiconductor Stock Investors Should Know About Recent Updates
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AAPL
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https://www.nasdaq.com/articles/what-qualcomm-tsmc-nvidia-and-other-semiconductor-stock-investors-should-know-about-recent
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In today's video, I discuss recent updates impacting various semiconductor companies. Check out the short video to learn more, consider subscribing, and click the special offer link below.
*Stock prices used were the after-market prices of Sept. 11, 2023. The video was published on Sept. 11, 2023.
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Jose Najarro has positions in Nvidia, Qualcomm, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Apple, Nvidia, Qualcomm, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy. Jose Najarro 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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Check out the short video to learn more, consider subscribing, and click the special offer link below. 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, Nvidia, Qualcomm, and Taiwan Semiconductor Manufacturing.
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After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of September 11, 2023 Jose Najarro has positions in Nvidia, Qualcomm, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Apple, Nvidia, Qualcomm, and Taiwan Semiconductor Manufacturing.
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After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of September 11, 2023 Jose Najarro has positions in Nvidia, Qualcomm, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Apple, Nvidia, Qualcomm, and Taiwan Semiconductor Manufacturing.
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Check out the short video to learn more, consider subscribing, and click the special offer link below. See the 10 stocks *Stock Advisor returns as of September 11, 2023 Jose Najarro has positions in Nvidia, Qualcomm, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.
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13751.0
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2023-09-12 00:00:00 UTC
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Daily Markets: Apple Today, August CPI Tomorrow
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AAPL
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https://www.nasdaq.com/articles/daily-markets-apple-today-august-cpi-tomorrow
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Today’s Big Picture
Asia-Pacific equity markets finished the day mixed. China’s Shanghai Composite declined 0.18% Hong Kong’s Hang Seng slipped 0.39%, and South Korea’s KOSPI ended the day 0.79% lower on a broad decline led by Commercial, and Industrial Services names. India’s SENSEX gained 0.14%, Australia’s ASX All Ordinaries advanced 0.20%, Taiwan’s TAIEX rose 0.85%, and Japan’s Nikkei closed 0.95% higher led by gains in Banking & Insurance, and Power names.
European markets are mixed in midday trading and U.S. equity futures point to a lower market open later this morning. Weighing on tech stocks this morning was disappointing guidance last night from Oracle. While they digest that guidance and comments on AI, investors are gearing up for tomorrow’s August CPI report and Thursday’s interest rate decision by the European Central Bank. Before we get to those potentially market-moving events, today Apple (AAPL) will hold its annual event to introduce several new products, including its latest iPhone models and Arm Holdings (ARM) inches closer to its hot IPO offering. Names seeing pre-market action today include Oracle, about 9.50% lower, and Westrock (WRK), seeing a roughly 7.50% surge following acquisition news (more below).
Data Download
International Economy
Germany's wholesale prices fell for the fifth consecutive month by 2.7% YoY in August after posting a 2.8% YoY drop in July. Downward pressure came from petroleum products (-15.8%), scrap & residual materials (-30%), cereals, raw tobacco, seeds & animal feeds (-21.4%); chemical products (-18.2%), and metals & metal ores (-16.1%).
The ZEW Indicator of Economic Sentiment for the Euro Area decreased to -8.9 in September from -5.5 in the previous month, below market expectations of -6.2.
The unemployment rate in the United Kingdom rose to 4.3% in July, the highest level since 3Q 2021. The number of unemployed people increased by 159,000 to 1.46 million, largely driven by individuals unemployed for up to 12 months. Wages, excluding bonuses, were 7.8% YoY during the three months to July, marking the largest increase since comparable records began in 2001.
The International Energy Agency forecasts demand for coal, natural gas, and oil will likely peak before 2030. The decline in fossil fuel consumption is expected to start this decade because of the ongoing shift to renewable power and wider electric vehicle adoption.
Domestic Economy
The NFIB Business Optimism Index in the U.S. decreased to 91.30 points in August from 91.90 points in July and the 91.7 consensus.
Markets
Meta Platforms’ (META) 3.25% gain helped lift Communication Services 1.51%, but it was Tesla’s (TSLA) 10.09% surge on the heels of a Morgan Stanley (MS) research report that led the Consumer Discretionary sector higher, closing up 2.69% that provided much of yesterday’s optimism. The only sector not participating was Energy, which fell 1.31% after the past few days of gains. Broad indexes all closed higher as the Russell 2000 rose 0.19%, the Dow gained 0.25%, the S&P 500 added 0.67% and the Nasdaq Composite was up 1.14%. After shares of JM Smucker’s (SJM) initially surged on news of its acquisition of Hostess Brands (TWNK), traders started to sour on the idea after analysts at Standard and Poor’s Global Ratings issued a negative outlook on the debt-heavy deal sending shares 7.01% lower.
Here’s how the major market indicators stack up year-to-date:
Dow Jones Industrial Average: 4.57%
S&P 500: 16.88%
Nasdaq Composite: 32.98%
Russell 2000: 5.33%
Bitcoin (BTC-USD): 51.33%
Ether (ETH-USD): 29.26%
Stocks to Watch
Before U.S. equity markets begin trading today, Cognyte Software (CGNT) will report its quarterly results.
At 1 PM ET, Apple will hold its Wanderlust event during which it is expected to unveil its latest iPhone and Apple Watch models as well as updated AirPods products. Read what to expect from Apple's iPhone launch here.
Oracle's (ORCL) August quarter EPS came in better than expected despite revenue for the quarter rising 8.8% YoY to $12.45 billion, modestly missing the $12.48 billion consensus. The company’s quarterly cloud revenue came in at $4.6 billion, up 29% YoY in constant currency and significantly below the 55% YoY growth in the prior quarter. Oracle co-founder and chief technology officer Larry Ellison shared “AI development companies have signed contracts to purchase more than $4 billion of capacity in Oracle's Gen2 Cloud. That's twice as much as we had booked at the end of Q4.” For the current quarter, Oracle guided its EPS to $1.30-$1.34 vs. the $1.34 consensus with revenue growth +5%-7% or $12.89-$13.13 billion vs. the $13.28 billion consensus.
July quarter results posted by Mission Produce (AVO) were mixed, with EPS missing the consensus forecast while revenue that fell 16.5% YoY to $261.4 million beat the $241.97 million consensus. For the current quarter, the company sees avocado industry volumes flat to slightly lower vs. year-ago levels due to reduced supply from Peru, which will impact Mission’s production volumes. Pricing is expected to be flat to slightly higher on a sequential basis, and higher on a year-over-year basis by approximately 10%.
Sight Sciences (SGHT) cut its revenue outlook citing uncertainty over the future of Medicare coverage for its products as a factor weighing on demand.
WestRock (WRK) agreed to merge with Smurfit Kappa (SMFTF) to form one of the world's top paper and packaging companies, valued at almost $20 billion. Per the merger terms, WestRock shareholders will receive one new Smurfit WestRock share and $5.00 in cash, for a total value of $43.51 per share, with Smurfit Kappa shareholders holding 50.4% of the combined company.
Acelyrin (SLRN) shares were under pressure after the company shared its lead product candidate failed to meet the primary endpoint of a clinical trial in patients with the severe skin illness Hidradenitis Suppurativa.
IPOs
Reports indicate the IPO order book for ARM Holdings (ARM) was closed a day early, suggesting strong demand for the shares.
Readers looking to dig deeper into the upcoming IPO calendar should visit Nasdaq’s Latest & Upcoming IPOs page.
After Today’s Market Close
There are no companies slated to report quarterly results after equities stop trading. Those looking for more on upcoming quarterly earnings reports should head on over to Nasdaq’s Earnings Calendar.
On the Horizon
Wednesday, September 13
Japan: Producer Price Index – August
UK: GDP, Industrial and Manufacturing Production – July
Eurozone: Industrial Production - July
US: Weekly MBA Mortgage Applications
US: Consumer Price Index – August
US: Weekly EIA Crude Oil Inventories
US: Treasury Budget – August
Thursday, September 14
US: Weekly Initial & Continuing Jobless Claims
US: Producer Price Index – August
US: Retail Sales – August
US: Business Inventories – July
US: Weekly EIA Natural Gas Inventories
Friday, September 15
China: Industrial Production, Unemployment Rate, Retail Sales – August
Eurozone: Labor Cost Index, Wage Growth – 2Q 2023
US: Import/Export Prices – August
US: Empire Manufacturing Index – September
US: Industrial Production & Capacity Utilization – August
US: University of Michigan Consumer Sentiment Index (Preliminary) – September
Thought for the Day
“The pessimist sees difficulty in every opportunity. The optimist sees opportunity in every difficulty." — Winston Churchill
Disclosures
Apple (AAPL) is a constituent of the Tematica Research Thematic Dividend All-Stars Index
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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Before we get to those potentially market-moving events, today Apple (AAPL) will hold its annual event to introduce several new products, including its latest iPhone models and Arm Holdings (ARM) inches closer to its hot IPO offering. — Winston Churchill Disclosures Apple (AAPL) is a constituent of the Tematica Research Thematic Dividend All-Stars Index The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. While they digest that guidance and comments on AI, investors are gearing up for tomorrow’s August CPI report and Thursday’s interest rate decision by the European Central Bank.
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Before we get to those potentially market-moving events, today Apple (AAPL) will hold its annual event to introduce several new products, including its latest iPhone models and Arm Holdings (ARM) inches closer to its hot IPO offering. — Winston Churchill Disclosures Apple (AAPL) is a constituent of the Tematica Research Thematic Dividend All-Stars Index The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Names seeing pre-market action today include Oracle, about 9.50% lower, and Westrock (WRK), seeing a roughly 7.50% surge following acquisition news (more below).
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Before we get to those potentially market-moving events, today Apple (AAPL) will hold its annual event to introduce several new products, including its latest iPhone models and Arm Holdings (ARM) inches closer to its hot IPO offering. — Winston Churchill Disclosures Apple (AAPL) is a constituent of the Tematica Research Thematic Dividend All-Stars Index The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Oracle's (ORCL) August quarter EPS came in better than expected despite revenue for the quarter rising 8.8% YoY to $12.45 billion, modestly missing the $12.48 billion consensus.
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Before we get to those potentially market-moving events, today Apple (AAPL) will hold its annual event to introduce several new products, including its latest iPhone models and Arm Holdings (ARM) inches closer to its hot IPO offering. — Winston Churchill Disclosures Apple (AAPL) is a constituent of the Tematica Research Thematic Dividend All-Stars Index The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. European markets are mixed in midday trading and U.S. equity futures point to a lower market open later this morning.
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13752.0
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2023-09-12 00:00:00 UTC
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Apple's iPhone 15 launch clouded by China problems
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AAPL
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https://www.nasdaq.com/articles/apples-iphone-15-launch-clouded-by-china-problems
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nan
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By Stephen Nellis
CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday is expected to unveil a new iPhone 15 lineup as questions about market access in China and competition hang over the world's most valuable listed company.
The iPhone made up more than half of Apple's $394.3 billion in sales last year, but it faces new challenges with selling in China, the Cupertino, California firm's third-largest market.
Apple's latest phones are expected to have new charging ports, titanium cases and cameras, but their debut at its Apple Park headquarters at 10 a.m. PT (1700 GMT) will come as the Chinese government has expanded some restrictions on using iPhones.
Apple will also have to grapple with competition from Huawei Technologies HWT.UL, which was its top rival in China's premium smartphone market until U.S. export controls ruined Huawei's phone business in 2019. Last week, Huawei started selling the Mate 60 Pro, a high-end phone that uses Chinese-made chips that some U.S. lawmakers believe were manufactured in violation of U.S. trade curbs.
Huawei wants to gain an edge on Apple with add-on features like satellite calling that relies on China's government-backed network. Apple's current iPhone lineup includes satellite capabilities, though they are meant only for emergency situations.
Apple on Tuesday is likely to focus on its new product lineup. By far the biggest change for most Apple customers will be a switch from Apple's propriety "Lightning" charging cables to USB-C, a standard that Apple already uses on its laptops and some high-end iPads.
Apple was forced into the change by European regulations, but analysts believe that the company will position the change as an upgrade, taking advantage of faster data speeds that can transfer high-quality videos made with iPhones.
Analysts are also expecting a new "periscope" camera technology that could give phones better zoom capabilities and titanium cases, as well as upgraded chips. Such "periscope" lenses can use mirrors or prisms to get a longer lens without having to make the camera module much larger.
The biggest question of the day will be whether Apple reserves those features for a new top-end device and makes smaller upgrades to its cheaper models.
"Just like we saw people who aren't Ultra athletes buy the Apple Watch Ultra, we're going to see a bunch of people buy this even if they aren't camera or photography enthusiasts, just because they like the latest and greatest," said Ben Bajarin, chief executive and principal analyst of Creative Strategies. "That by itself creates that buzz and momentum and allure to the top end."
Apple is expected to increase the average price per phone sold to boost its revenue, but the question is whether it does that by raising prices across the board or just on premium versions. The global smartphone market has slumped from shipping 294.5 million total phones to 268 million in the second quarter, but Apple's shipments declined the least of any major smartphone maker, dropping from 46.5 million phones to 45.3 million, according to data from Counterpoint Research.
"The truth of the matter is, we're in a very down smartphone market," said Bob O'Donnell, head of TECHnalysis Research.
O'Donnell said he will also be on the lookout for any hints about Apple's plans with what is known as generative artificial intelligence, the technology trend behind applications like OpenAI's ChatGPT and Microsoft's "Copilot" assistant technologies for its Office software.
Analysts have repeatedly prodded Apple about its plans for such technology but the company has given few hints so far, other than Chief Executive Tim Cook's comments in July that the company's secret work on the technology is driving up its research spending.
"Will Apple tease an advanced form of Siri? That would be something that would generate some excitement," O'Donnell said.
(Reporting by Stephen Nellis in Cupertino, California; Editing by Peter Henderson and Lisa Shumaker)
((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 CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday is expected to unveil a new iPhone 15 lineup as questions about market access in China and competition hang over the world's most valuable listed company. The iPhone made up more than half of Apple's $394.3 billion in sales last year, but it faces new challenges with selling in China, the Cupertino, California firm's third-largest market. Last week, Huawei started selling the Mate 60 Pro, a high-end phone that uses Chinese-made chips that some U.S. lawmakers believe were manufactured in violation of U.S. trade curbs.
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By Stephen Nellis CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday is expected to unveil a new iPhone 15 lineup as questions about market access in China and competition hang over the world's most valuable listed company. Apple's latest phones are expected to have new charging ports, titanium cases and cameras, but their debut at its Apple Park headquarters at 10 a.m. PT (1700 GMT) will come as the Chinese government has expanded some restrictions on using iPhones. Apple will also have to grapple with competition from Huawei Technologies HWT.UL, which was its top rival in China's premium smartphone market until U.S. export controls ruined Huawei's phone business in 2019.
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By Stephen Nellis CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday is expected to unveil a new iPhone 15 lineup as questions about market access in China and competition hang over the world's most valuable listed company. Apple's latest phones are expected to have new charging ports, titanium cases and cameras, but their debut at its Apple Park headquarters at 10 a.m. PT (1700 GMT) will come as the Chinese government has expanded some restrictions on using iPhones. By far the biggest change for most Apple customers will be a switch from Apple's propriety "Lightning" charging cables to USB-C, a standard that Apple already uses on its laptops and some high-end iPads.
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By Stephen Nellis CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday is expected to unveil a new iPhone 15 lineup as questions about market access in China and competition hang over the world's most valuable listed company. Apple will also have to grapple with competition from Huawei Technologies HWT.UL, which was its top rival in China's premium smartphone market until U.S. export controls ruined Huawei's phone business in 2019. Analysts are also expecting a new "periscope" camera technology that could give phones better zoom capabilities and titanium cases, as well as upgraded chips.
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13753.0
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2023-09-12 00:00:00 UTC
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Should BNY Mellon US Large Cap Core Equity ETF (BKLC) Be on Your Investing Radar?
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https://www.nasdaq.com/articles/should-bny-mellon-us-large-cap-core-equity-etf-bklc-be-on-your-investing-radar-8
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Looking for broad exposure to the Large Cap Blend segment of the US equity market? You should consider the BNY Mellon US Large Cap Core Equity ETF (BKLC), a passively managed exchange traded fund launched on 04/09/2020.
The fund is sponsored by Bny Mellon. It has amassed assets over $1.77 billion, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Companies that fall in the large cap category tend to have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.
Typically holding a combination of both growth and value stocks, blend ETFs also demonstrate qualities seen in value and growth investments.
Costs
When considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.
Annual operating expenses for this ETF are 0%, making it the least expensive products in the space.
It has a 12-month trailing dividend yield of 1.36%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, 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 30.70% of the portfolio. Healthcare and Financials round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 8.74% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN).
The top 10 holdings account for about 35.24% of total assets under management.
Performance and Risk
BKLC seeks to match the performance of the MORNINGSTAR U.S. LARGE CAP INDEX before fees and expenses. The Morningstar US Large Cap Index is a float-adjusted market capitalization weighted index designed to measure the performance of U.S. large-capitalization stocks.
The ETF has gained about 21.70% so far this year and it's up approximately 14.30% in the last one year (as of 09/12/2023). In the past 52-week period, it has traded between $65.88 and $85.80.
The ETF has a beta of 1.03 and standard deviation of 18.47% for the trailing three-year period. With about 215 holdings, it effectively diversifies company-specific risk.
Alternatives
BNY Mellon US Large Cap Core Equity 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, BKLC is a reasonable option for those seeking exposure to the Style Box - Large Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Core S&P 500 ETF (IVV) and the SPDR S&P 500 ETF (SPY) track a similar index. While iShares Core S&P 500 ETF has $350.62 billion in assets, SPDR S&P 500 ETF has $413.19 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
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
BNY Mellon US Large Cap Core Equity ETF (BKLC): 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
SPDR S&P 500 ETF (SPY): ETF Research Reports
iShares Core S&P 500 ETF (IVV): 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 8.74% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Click to get this free report BNY Mellon US Large Cap Core Equity ETF (BKLC): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. You should consider the BNY Mellon US Large Cap Core Equity ETF (BKLC), a passively managed exchange traded fund launched on 04/09/2020.
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Click to get this free report BNY Mellon US Large Cap Core Equity ETF (BKLC): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 8.74% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). You should consider the BNY Mellon US Large Cap Core Equity ETF (BKLC), a passively managed exchange traded fund launched on 04/09/2020.
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Click to get this free report BNY Mellon US Large Cap Core Equity ETF (BKLC): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 8.74% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Alternatives BNY Mellon US Large Cap Core Equity 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, Apple Inc (AAPL) accounts for about 8.74% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Click to get this free report BNY Mellon US Large Cap Core Equity ETF (BKLC): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. You should consider the BNY Mellon US Large Cap Core Equity ETF (BKLC), a passively managed exchange traded fund launched on 04/09/2020.
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13754.0
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2023-09-12 00:00:00 UTC
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GlobalFoundries opens $4 bln Singapore chip fabrication plant
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AAPL
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https://www.nasdaq.com/articles/globalfoundries-opens-%244-bln-singapore-chip-fabrication-plant
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nan
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nan
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Updates throughout, adds context
SINGAPORE Sept 12 (Reuters) - GlobalFoundries GFS.O, the world's third-largest contract chipmaker, opened a $4 billion semiconductor fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion.
The U.S chipmaker's new 23,000 square meters (248,000 square feet) facility will be able to produce 450,000 300 millimetre wafers per year at full capacity, expected by 2025 to 2026, and will create 1,000 jobs, the company's Singapore general manager Tan Yew Kong told reporters.
"If we run (the Singapore campus') capacity to the fullest, that will probably be (around) 45% of revenue for GlobalFoundries," he said, adding that the company expected weak global demand for chips to pick up by the second half of 2024.
The company's Singapore operations, which serve 200 clients worldwide, also include two other fabs that produce 720,000 300mm wafers and 692,000 200mm wafers a year respectively. The chips are used in cars and 5G technology.
GlobalFoundries announced a $6 billion global expansion in 2021 amid a chip shortage during the pandemic that has since reversed into a surplus.
One of GlobalFoundries' biggest clients is Qualcomm QCOMO.OO, which said on Monday it had signed a deal with Apple
GlobalFoundries is the world's third-largest foundry by revenue behind Taiwan's TSMC 2330.TW and South Korea's Samsung Electronics 005930.KS, according to market intelligence provider TrendForce.
Singapore's overall semiconductor output, which makes up 11% of the global market, is set to grow as more chipmakers open or expand operations in the coming months.
(Reporting by Fanny Potkin; Editing by Richard Chang and Jamie Freed)
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 we run (the Singapore campus') capacity to the fullest, that will probably be (around) 45% of revenue for GlobalFoundries," he said, adding that the company expected weak global demand for chips to pick up by the second half of 2024. GlobalFoundries announced a $6 billion global expansion in 2021 amid a chip shortage during the pandemic that has since reversed into a surplus. Singapore's overall semiconductor output, which makes up 11% of the global market, is set to grow as more chipmakers open or expand operations in the coming months.
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Updates throughout, adds context SINGAPORE Sept 12 (Reuters) - GlobalFoundries GFS.O, the world's third-largest contract chipmaker, opened a $4 billion semiconductor fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion. The U.S chipmaker's new 23,000 square meters (248,000 square feet) facility will be able to produce 450,000 300 millimetre wafers per year at full capacity, expected by 2025 to 2026, and will create 1,000 jobs, the company's Singapore general manager Tan Yew Kong told reporters. The company's Singapore operations, which serve 200 clients worldwide, also include two other fabs that produce 720,000 300mm wafers and 692,000 200mm wafers a year respectively.
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Updates throughout, adds context SINGAPORE Sept 12 (Reuters) - GlobalFoundries GFS.O, the world's third-largest contract chipmaker, opened a $4 billion semiconductor fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion. The U.S chipmaker's new 23,000 square meters (248,000 square feet) facility will be able to produce 450,000 300 millimetre wafers per year at full capacity, expected by 2025 to 2026, and will create 1,000 jobs, the company's Singapore general manager Tan Yew Kong told reporters. "If we run (the Singapore campus') capacity to the fullest, that will probably be (around) 45% of revenue for GlobalFoundries," he said, adding that the company expected weak global demand for chips to pick up by the second half of 2024.
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Updates throughout, adds context SINGAPORE Sept 12 (Reuters) - GlobalFoundries GFS.O, the world's third-largest contract chipmaker, opened a $4 billion semiconductor fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion. The U.S chipmaker's new 23,000 square meters (248,000 square feet) facility will be able to produce 450,000 300 millimetre wafers per year at full capacity, expected by 2025 to 2026, and will create 1,000 jobs, the company's Singapore general manager Tan Yew Kong told reporters. "If we run (the Singapore campus') capacity to the fullest, that will probably be (around) 45% of revenue for GlobalFoundries," he said, adding that the company expected weak global demand for chips to pick up by the second half of 2024.
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13755.0
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2023-09-12 00:00:00 UTC
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Should Schwab U.S. Large-Cap ETF (SCHX) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-schwab-u.s.-large-cap-etf-schx-be-on-your-investing-radar-2
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nan
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nan
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Launched on 11/03/2009, the Schwab U.S. Large-Cap ETF (SCHX) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Blend segment of the US equity market.
The fund is sponsored by Charles Schwab. It has amassed assets over $33.92 billion, making it one of the largest ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Companies that fall in the large cap category tend to have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.
Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.
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 0.03%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 1.45%.
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 28.10% of the portfolio. Healthcare and Financials round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.96% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN).
The top 10 holdings account for about 28.06% of total assets under management.
Performance and Risk
SCHX seeks to match the performance of the Dow Jones U.S. Large-Cap Total Stock Market Index before fees and expenses. The Dow Jones U.S. Large-Cap Total Stock Market measures all U.S. equity securities with readily available prices. The index includes approximately the largest 750 stocks and is float-adjusted market-capitalization weighted.
The ETF has added about 18.43% so far this year and was up about 11.67% in the last one year (as of 09/12/2023). In the past 52-week period, it has traded between $42.25 and $54.21.
The ETF has a beta of 1.01 and standard deviation of 18.19% for the trailing three-year period, making it a medium risk choice in the space. With about 757 holdings, it effectively diversifies company-specific risk.
Alternatives
Schwab U.S. Large-Cap 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, SCHX is a good option for those seeking exposure to the Style Box - Large Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Core S&P 500 ETF (IVV) and the SPDR S&P 500 ETF (SPY) track a similar index. While iShares Core S&P 500 ETF has $350.62 billion in assets, SPDR S&P 500 ETF has $413.19 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
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.
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
Schwab U.S. Large-Cap ETF (SCHX): 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
SPDR S&P 500 ETF (SPY): ETF Research Reports
iShares Core S&P 500 ETF (IVV): 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 6.96% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Click to get this free report Schwab U.S. Large-Cap ETF (SCHX): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Launched on 11/03/2009, the Schwab U.S. Large-Cap ETF (SCHX) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Blend segment of the US equity market.
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Click to get this free report Schwab U.S. Large-Cap ETF (SCHX): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.96% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). 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.
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Click to get this free report Schwab U.S. Large-Cap ETF (SCHX): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.96% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Alternatives Schwab U.S. Large-Cap 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, Apple Inc (AAPL) accounts for about 6.96% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Click to get this free report Schwab U.S. Large-Cap ETF (SCHX): 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 SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Launched on 11/03/2009, the Schwab U.S. Large-Cap ETF (SCHX) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Blend segment of the US equity market.
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13756.0
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2023-09-12 00:00:00 UTC
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3 Reasons to Buy Apple Stock, and 3 Reasons to Sell
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AAPL
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https://www.nasdaq.com/articles/3-reasons-to-buy-apple-stock-and-3-reasons-to-sell
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nan
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nan
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Apple (NASDAQ: AAPL) is beloved by both retail and institutional investors. It's consistently one of the most popular stocks on Robinhood Markets' commission-free trading platform, and Warren Buffett's Berkshire Hathaway devotes nearly half of its entire portfolio to Apple.
It's widely held because it's both a safe-haven stock that has withstood multiple bear markets and an attractive growth play that thrives during bull markets. Over the past five years, Apple's stock surged more than 220% as the S&P 500 advanced roughly 55%. But past performance never guarantees future gains, so let's review three reasons to buy Apple -- as well as three reasons to sell it -- to see if it's still a good long-term investment.
Image source: Apple.
The three reasons to buy Apple
The bulls love Apple because its customers are loyal to its brand, its services ecosystem is expanding, and it's sitting on a mountain of cash.
According to a recent survey by ZipDo, 92% of iPhone users plan to stick with Apple for their next smartphone purchase. An AddictiveTips survey found that 94% of iPhone users would probably stick with Apple, while only 80% of Alphabet's Google Android users were loyal to their current brand.
Apple reinforces its brand loyalty in two ways. First, it prices and promotes its products as luxury items to widen its moat against its lower-priced competitors. Second, its ever-expanding ecosystem of services locks in its users and makes it difficult to switch over to an Android device. That's probably why the iPhone'sglobal marketshare actually increased from 14% to 17% between the third quarter of 2021 and the second quarter of 2023, according to Counterpoint Research.
Apple's services ecosystem -- which includes its App Store, iCloud, Apple Music, Apple TV+, Apple News+, Apple Arcade, and its other subscription-based services -- also served more than a billion paid subscribers at the end of its latest quarter. That's nearly double the number of paid subscriptions it had three years ago.
Its services segment generated 21% of its revenue in the first nine months of fiscal 2023 (which ended on July 1), compared with just 18% of its revenue back in fiscal 2019. That expansion should gradually reduce its dependence on the iPhone, strengthen its walled garden, and pave the way for the launches of its future products and services.
Apple ended its latest quarter with more than $166 billion in cash and marketable securities, which gives it plenty of room to expand its ecosystem with big investments and acquisitions. More importantly, that fortress of a balance sheet should reinforce its reputation as a safe haven stock as long as interest rates stay elevated.
The three reasons to sell Apple
The bears believe Apple's overwhelming dependence on the iPhone, its troubles in China, and its premium valuation will limit its near-term gains.
Apple generated 53% of its revenue from the iPhone in the first nine months of fiscal 2023. But over the next few years, this core business could stall out as the upgrade cycles get longer and its annual improvements become less significant.
Apple also brought in 20% of its revenue from the Greater China region during that period. China was once Apple's fastest-growing market, but it faced some major challenges over the past year. China's intermittent COVID-19 lockdowns disrupted its production and sales; protests against its primary manufacturing partner, Foxconn, temporarily shut down one of its largest plants in late 2022; and China recently banned the usage of iPhones across several government agencies.
Apple is gradually shifting its production out of China and expanding into higher-growth markets such as India, but it could take years for those strategies to bear fruit. That shift could also compress its near-term operating margins.
Analysts expect Apple's earnings per share to decline 7% this year and only rise 9% in fiscal 2024 as it struggles with the sluggish recovery of the global smartphone market and other macro headwinds. However, it still trades at 27 times forward earnings -- which seems a bit pricey relative to its near-term growth -- presumably because investors still consider it to be a safe-haven play in this volatile market. They also seem to be pricing the growth of future products such as the Vision Pro into its current valuations.
Is it the right time to buy or sell Apple?
I believe Apple's valuations could limit its near-term gains, but I'm still optimistic about its ability to expand, evolve, and generate new streams of revenue over the long term. In the meantime, this tech titan is likely to keep pouring its cash into big buybacks -- even after reducing its share count by 18% over the past five years -- as it quietly develops new products and services to reduce its dependence on the iPhone and the Chinese market.
Simply put, I think it's still the right time to buy and hold Apple. It might not generate jaw-dropping gains over the next few quarters, but investors who dump it today will probably regret that decision a few years down the road.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Leo Sun has positions in Alphabet and Apple. The Motley Fool has positions in and recommends Alphabet, 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 beloved by both retail and institutional investors. It's consistently one of the most popular stocks on Robinhood Markets' commission-free trading platform, and Warren Buffett's Berkshire Hathaway devotes nearly half of its entire portfolio to Apple. Apple ended its latest quarter with more than $166 billion in cash and marketable securities, which gives it plenty of room to expand its ecosystem with big investments and acquisitions.
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Apple (NASDAQ: AAPL) is beloved by both retail and institutional investors. An AddictiveTips survey found that 94% of iPhone users would probably stick with Apple, while only 80% of Alphabet's Google Android users were loyal to their current brand. The three reasons to sell Apple The bears believe Apple's overwhelming dependence on the iPhone, its troubles in China, and its premium valuation will limit its near-term gains.
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Apple (NASDAQ: AAPL) is beloved by both retail and institutional investors. The three reasons to buy Apple The bulls love Apple because its customers are loyal to its brand, its services ecosystem is expanding, and it's sitting on a mountain of cash. Apple's services ecosystem -- which includes its App Store, iCloud, Apple Music, Apple TV+, Apple News+, Apple Arcade, and its other subscription-based services -- also served more than a billion paid subscribers at the end of its latest quarter.
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Apple (NASDAQ: AAPL) is beloved by both retail and institutional investors. Apple is gradually shifting its production out of China and expanding into higher-growth markets such as India, but it could take years for those strategies to bear fruit. That's right -- they think these 10 stocks are even better buys.
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13757.0
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2023-09-12 00:00:00 UTC
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Best Inverse/Leveraged ETFs of Last Week
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AAPL
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https://www.nasdaq.com/articles/best-inverse-leveraged-etfs-of-last-week-26
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nan
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nan
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Wall Street delivered downbeat performances last week due to rising rates. The S&P 500 (down 1.3%), the Dow Jones (down 0.8%), the Nasdaq (down 1.9%) and the Russell 2000 (down 3.6%) – all slumped last week (read: A Guide to Higher Interest Rates and ETFs).
Worries over longer-than-expected higher interest rates have been playing foul on the stock market in recent weeks. The series of upbeat economic data as well as the latest warning from the Fed officials revived speculation that the Fed could lift interest rates again. Benchmark U.S. Treasury yields hit a high of 4.30% on Sep 6, 2023 and ended at 4.26%.
The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. Notably, China is Apple’s third-largest market, accounting for 18% of the company’s total revenues last year (read: What Lies Ahead for Apple ETFs After iPhone Use Ban?).
WTI crude oil rose about 1.4% last week due to tightening supply conditions. Both benchmarks reached a 10-month high last week with more upside potential. Meanwhile, Indian and Japanese stocks hit 52-week highs last week (read: India ETFs Hitting 52-Week Highs: Here's Why).
The Japanese economy is showing strong expansion driven by foreign buying, a still-easy BOJ policy and a weaker yen. In particular, currency-hedged ETFs outperformed their unhedged peers as the surging U.S. dollar knocked down the returns of international investments.
Against this backdrop, below we highlight a few best-performing inverse/leveraged ETFs of last week.
ETFs in Focus
AdvisorShares MSOS 2x Daily ETF (MSOX) – Up 38.6%
The AdvisorShares MSOS 2x Daily ETF seeks daily investment results that correspond to two times the return of AdvisorShares Pure US Cannabis ETF. The fund charges 95 bps in fees.
MAX Airlines -3X Inverse Leveraged ETNs (JETD) – Up 13.2%
The MAX Airlines -3X Inverse Leveraged ETNs is linked to a 3X times inverse leveraged participation in the daily performance of the Prime Airlines Index, minus the applicable fees. The fund charges 95 bps in fees.
Direxion Daily FTSE China Bear 3X Shares (YANG) – Up 12.9%
The Direxion Daily FTSE China Bear 3X Shares seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the FTSE China 50 Index. The expense ratio of 1.08%.
Direxion Daily Small Cap Bear 3X Shares (TZA) –11.6%
The Direxion Daily Small Cap Bear 3x Shares seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the Russell 2000. The expense ratio of 1.03%.
Direxion Daily Semiconductor Bear 3x Shares (SOXS) – Up 11.5%
The Direxion Daily Semiconductor Bear 3x Shares seeks daily investment results, before fees and expenses, of 300% of the inverse of the performance of the ICE Semiconductor Index. The expense ratio of 1.02%.
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
Apple Inc. (AAPL) : Free Stock Analysis Report
Direxion Daily Small Cap Bear 3X Shares (TZA): ETF Research Reports
Direxion Daily Semiconductor Bear 3X Shares (SOXS): ETF Research Reports
Direxion Daily FTSE China Bear 3X Shares (YANG): ETF Research Reports
AdvisorShares MSOS 2x Daily ETF (MSOX): ETF Research Reports
MAX Airlines -3X Inverse Leveraged ETNs (JETD): 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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The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Direxion Daily Small Cap Bear 3X Shares (TZA): ETF Research Reports Direxion Daily Semiconductor Bear 3X Shares (SOXS): ETF Research Reports Direxion Daily FTSE China Bear 3X Shares (YANG): ETF Research Reports AdvisorShares MSOS 2x Daily ETF (MSOX): ETF Research Reports MAX Airlines -3X Inverse Leveraged ETNs (JETD): ETF Research Reports To read this article on Zacks.com click here. The S&P 500 (down 1.3%), the Dow Jones (down 0.8%), the Nasdaq (down 1.9%) and the Russell 2000 (down 3.6%) – all slumped last week (read: A Guide to Higher Interest Rates and ETFs).
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Direxion Daily Small Cap Bear 3X Shares (TZA): ETF Research Reports Direxion Daily Semiconductor Bear 3X Shares (SOXS): ETF Research Reports Direxion Daily FTSE China Bear 3X Shares (YANG): ETF Research Reports AdvisorShares MSOS 2x Daily ETF (MSOX): ETF Research Reports MAX Airlines -3X Inverse Leveraged ETNs (JETD): ETF Research Reports To read this article on Zacks.com click here. The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. Direxion Daily FTSE China Bear 3X Shares (YANG) – Up 12.9% The Direxion Daily FTSE China Bear 3X Shares seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the FTSE China 50 Index.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Direxion Daily Small Cap Bear 3X Shares (TZA): ETF Research Reports Direxion Daily Semiconductor Bear 3X Shares (SOXS): ETF Research Reports Direxion Daily FTSE China Bear 3X Shares (YANG): ETF Research Reports AdvisorShares MSOS 2x Daily ETF (MSOX): ETF Research Reports MAX Airlines -3X Inverse Leveraged ETNs (JETD): ETF Research Reports To read this article on Zacks.com click here. The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. ETFs in Focus AdvisorShares MSOS 2x Daily ETF (MSOX) – Up 38.6% The AdvisorShares MSOS 2x Daily ETF seeks daily investment results that correspond to two times the return of AdvisorShares Pure US Cannabis ETF.
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The tech giant Apple Inc. AAPL shed nearly $200 billion in market value in just two days amid the reports of China planning to expand a ban on the use of iPhones to government-backed agencies and state companies. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Direxion Daily Small Cap Bear 3X Shares (TZA): ETF Research Reports Direxion Daily Semiconductor Bear 3X Shares (SOXS): ETF Research Reports Direxion Daily FTSE China Bear 3X Shares (YANG): ETF Research Reports AdvisorShares MSOS 2x Daily ETF (MSOX): ETF Research Reports MAX Airlines -3X Inverse Leveraged ETNs (JETD): ETF Research Reports To read this article on Zacks.com click here. Wall Street delivered downbeat performances last week due to rising rates.
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2023-09-12 00:00:00 UTC
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US STOCKS-Wall St on course to open lower as investors await key inflation data
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-on-course-to-open-lower-as-investors-await-key-inflation-data
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nan
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By Ankika Biswas and Shristi Achar A
Sept 12 (Reuters) - Wall Street's main indexes were poised to open lower on Tuesday after starting the week on a strong footing, as investors awaited key inflation readings for clues on the Federal Reserve's interest-rate path.
The tech-heavy Nasdaq .IXIC led the advance among Wall Street's major indexes on Monday, boosted by a jump in Tesla TSLA.O shares on optimism around artificial intelligence following a rating upgrade by Morgan Stanley.
Tesla TSLA.O fell 0.9% before the bell on Tuesday, while other megacap growth names including Amazon.com AMZN.O and Microsoft MSFT.O dropped 0.6% and 0.7%, respectively.
Investors await August consumer prices data, due on Wednesday, and producer prices reading scheduled on Thursday, followed by the Fed's policy decision on Sept. 20.
A recent uptick in oil prices and strong economic data have fueled concerns over stubborn inflation, clouding the outlook for an end to U.S. monetary policy tightening.
Investors will also monitor the European Central Bank's policy decision on Thursday, where it is seen holding rates after nine consecutive hikes.
"People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November," said Thomas Hayes, chairman at Great Hill Capital LLC.
"It seems regardless that Fed will skip in September, but the inflation data that we get between now and November is critical and the market is at the point where anymore tightening could be a bit excessive and a major headwind."
Traders see a 93% chance of rates remaining at the current levels in September and a near 53% likelihood of a pause in November, as per the CME FedWatch Tool.
A survey showed U.S. small business sentiment declined last month for the first time since April on concerns over persistent inflation and availability of staff.
Investors will also be on a lookout for any signs of a possible so-called soft landing for the U.S. economy that has been bruised by the Fed's aggressive monetary policy tightening.
At 8:04 a.m. ET, Dow e-minis 1YMcv1 were down 60 points, or 0.17%, S&P 500 e-minis EScv1 were down 13.5 points, or 0.3%, and Nasdaq 100 e-minis NQcv1 were down 54.75 points, or 0.35%.
Apple AAPL.O was the only gainer among major growth companies in premarket trading, up 0.2%, ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition.
Cloud-services provider Oracle ORCL.N shed 10.4% after forecasting current-quarter revenue below targets and narrowly missing first-quarter expectations.
AcelyrinSLRN.O slumped 57% as the drug developer's experimental lead drug failed to show it was effective in reducing symptoms of an inflammatory skin disease.
WestRock WRK.N jumped 5.7% on agreeing to merge with Europe's Smurfit Kappa SKG.I to create the world's largest listed paper and packaging company worth nearly $20 billion.
Paramount Global PARA.O added 1% as a report said major shareholder National Amusements had reached a debt-restructuring deal with its lenders.
(Reporting by Ankika Biswas and Shristi Achar A in Bengaluru; Editing by Arun Koyyur and Vinay Dwivedi)
((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 was the only gainer among major growth companies in premarket trading, up 0.2%, ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - Wall Street's main indexes were poised to open lower on Tuesday after starting the week on a strong footing, as investors awaited key inflation readings for clues on the Federal Reserve's interest-rate path. The tech-heavy Nasdaq .IXIC led the advance among Wall Street's major indexes on Monday, boosted by a jump in Tesla TSLA.O shares on optimism around artificial intelligence following a rating upgrade by Morgan Stanley.
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Apple AAPL.O was the only gainer among major growth companies in premarket trading, up 0.2%, ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - Wall Street's main indexes were poised to open lower on Tuesday after starting the week on a strong footing, as investors awaited key inflation readings for clues on the Federal Reserve's interest-rate path. The tech-heavy Nasdaq .IXIC led the advance among Wall Street's major indexes on Monday, boosted by a jump in Tesla TSLA.O shares on optimism around artificial intelligence following a rating upgrade by Morgan Stanley.
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Apple AAPL.O was the only gainer among major growth companies in premarket trading, up 0.2%, ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - Wall Street's main indexes were poised to open lower on Tuesday after starting the week on a strong footing, as investors awaited key inflation readings for clues on the Federal Reserve's interest-rate path. Investors await August consumer prices data, due on Wednesday, and producer prices reading scheduled on Thursday, followed by the Fed's policy decision on Sept. 20.
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Apple AAPL.O was the only gainer among major growth companies in premarket trading, up 0.2%, ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - Wall Street's main indexes were poised to open lower on Tuesday after starting the week on a strong footing, as investors awaited key inflation readings for clues on the Federal Reserve's interest-rate path. Investors await August consumer prices data, due on Wednesday, and producer prices reading scheduled on Thursday, followed by the Fed's policy decision on Sept. 20.
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13759.0
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2023-09-12 00:00:00 UTC
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Tesla tops list of most shorted stocks for third month in August - Hazeltree
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AAPL
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https://www.nasdaq.com/articles/tesla-tops-list-of-most-shorted-stocks-for-third-month-in-august-hazeltree
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nan
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nan
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By Nell Mackenzie
LONDON, Sept 12 (Reuters) - Tesla TSLA.O topped a list of the most shorted large-cap U.S. stocks for a third consecutive month in August, securities lending data firm Hazeltree said in a report on Tuesday.
Tesla stock rallied over 5% on Monday after a Morgan Stanley MS.N note suggested the automaker's Dojo supercomputer could bolster Tesla's market value.
A short bet expects a stock price to fall.
Hazeltree, which tracks 12,000 equities globally, said the second and third most shorted stocks last month were Charter Communications CHTR.O and Apple AAPL.O respectively.
Tesla, Charter Communications and Apple did not immediately respond to requests for comment.
Data compiled by research firm Whale Wisdom showed a range of different strategies underlying short bets against Tesla disclosed to the Securities and Exchange Commission on June 30.
Those included investors with funds taking long and short positions in stocks: Diamond Hill, Leuthold Funds and Forum Funds. A Blackstone fund of funds contained the short positions of other hedge funds and investment managers.
Trades held by the hedge fund AQR Capital Management and the investment manager Federated Hermes aimed to avoid market risk by offsetting rising and falling prices on different asset classes.
Tesla's CEO Elon Musk on Monday posted on his social media platform X a reaction to the short position that Microsoft co-founder Bill Gates has held against the firm, according to a recent biography of Musk by Walter Isaacson.
"Taking out a short position against Tesla, as Gates did, results in the highest return only if a company goes bankrupt!" posted Musk.
Hedge funds have been shorting U.S. stocks at a rapid pace in recent weeks, a Goldman Sachs note this week showed, and total short bets reached their highest value in six months.
Hedge funds were net short consumer discretionary stocks, which would include Tesla, for the year ending Sept. 8, according to the Goldman note.
"If I'm honest, I've only lost money trying to short TSLA," said Dan Izzo, founder of the hedge fund Blackbird Capital, who did not disclose whether he currently had a position in Tesla.
"Not because I'm wrong about it, but because the market can be irrational for longer than I can afford to be proven right."
(Reporting by Nell Mackenzie; Editing by Dhara Ranasinghe and Kevin Liffey)
((Nell.Mackenzie@thomsonreuters.com; https://twitter.com/nellmooney;))
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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Hazeltree, which tracks 12,000 equities globally, said the second and third most shorted stocks last month were Charter Communications CHTR.O and Apple AAPL.O respectively. By Nell Mackenzie LONDON, Sept 12 (Reuters) - Tesla TSLA.O topped a list of the most shorted large-cap U.S. stocks for a third consecutive month in August, securities lending data firm Hazeltree said in a report on Tuesday. Data compiled by research firm Whale Wisdom showed a range of different strategies underlying short bets against Tesla disclosed to the Securities and Exchange Commission on June 30.
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Hazeltree, which tracks 12,000 equities globally, said the second and third most shorted stocks last month were Charter Communications CHTR.O and Apple AAPL.O respectively. A Blackstone fund of funds contained the short positions of other hedge funds and investment managers. Trades held by the hedge fund AQR Capital Management and the investment manager Federated Hermes aimed to avoid market risk by offsetting rising and falling prices on different asset classes.
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Hazeltree, which tracks 12,000 equities globally, said the second and third most shorted stocks last month were Charter Communications CHTR.O and Apple AAPL.O respectively. Those included investors with funds taking long and short positions in stocks: Diamond Hill, Leuthold Funds and Forum Funds. A Blackstone fund of funds contained the short positions of other hedge funds and investment managers.
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Hazeltree, which tracks 12,000 equities globally, said the second and third most shorted stocks last month were Charter Communications CHTR.O and Apple AAPL.O respectively. By Nell Mackenzie LONDON, Sept 12 (Reuters) - Tesla TSLA.O topped a list of the most shorted large-cap U.S. stocks for a third consecutive month in August, securities lending data firm Hazeltree said in a report on Tuesday. Those included investors with funds taking long and short positions in stocks: Diamond Hill, Leuthold Funds and Forum Funds.
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13760.0
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2023-09-12 00:00:00 UTC
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TSMC to invest up to $100 mln in Arm Holdings' IPO
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AAPL
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https://www.nasdaq.com/articles/tsmc-to-invest-up-to-%24100-mln-in-arm-holdings-ipo
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nan
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nan
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Adds detail on Arm Holdings' IPO in paragraphs 2-3, comments from TSMC chairman paragraph4
TAIPEI, Sept 12 (Reuters) - TSMC 2330.TW, the world's largest contract chipmaker, will invest up to $100 million in chip designer Arm Holdings Plc's initial public share offering (IPO), it said on Tuesday.
SoftBank Group's 9984.T Arm Holdings, which launched the roadshow last week, aims to raise up to $4.87 billion in its U.S. IPO, according to a regulatory filing.
Arm has already signed up other major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia NVDA.O, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS.
TSMC's Chairman Mark Liu said last week that "Arm is an important element of our ecosystem, our technology and our customers' ecosystem. We want it to be successful, we want it to be healthy. That's the bottom line."
TSMC also agreed to purchase 10% equity interest in IMS Nanofabrication Global, LLC from Intel for up to $432.8 million, the company said in a statement.
The investment valued IMS Nanofabrication at approximately $4.3 billion, said Intel, which will retain majority ownership of IMS.
(Reporting by Meg Shen, Editing by Louise Heavens and Emelia Sithole-Matarise)
((meg.shen@thomsonreuters.com; 852-39525805;))
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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Arm has already signed up other major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia NVDA.O, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. SoftBank Group's 9984.T Arm Holdings, which launched the roadshow last week, aims to raise up to $4.87 billion in its U.S. IPO, according to a regulatory filing. TSMC also agreed to purchase 10% equity interest in IMS Nanofabrication Global, LLC from Intel for up to $432.8 million, the company said in a statement.
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Arm has already signed up other major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia NVDA.O, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. Adds detail on Arm Holdings' IPO in paragraphs 2-3, comments from TSMC chairman paragraph4 TAIPEI, Sept 12 (Reuters) - TSMC 2330.TW, the world's largest contract chipmaker, will invest up to $100 million in chip designer Arm Holdings Plc's initial public share offering (IPO), it said on Tuesday. SoftBank Group's 9984.T Arm Holdings, which launched the roadshow last week, aims to raise up to $4.87 billion in its U.S. IPO, according to a regulatory filing.
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Arm has already signed up other major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia NVDA.O, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. Adds detail on Arm Holdings' IPO in paragraphs 2-3, comments from TSMC chairman paragraph4 TAIPEI, Sept 12 (Reuters) - TSMC 2330.TW, the world's largest contract chipmaker, will invest up to $100 million in chip designer Arm Holdings Plc's initial public share offering (IPO), it said on Tuesday. We want it to be successful, we want it to be healthy.
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Arm has already signed up other major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia NVDA.O, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. Adds detail on Arm Holdings' IPO in paragraphs 2-3, comments from TSMC chairman paragraph4 TAIPEI, Sept 12 (Reuters) - TSMC 2330.TW, the world's largest contract chipmaker, will invest up to $100 million in chip designer Arm Holdings Plc's initial public share offering (IPO), it said on Tuesday. SoftBank Group's 9984.T Arm Holdings, which launched the roadshow last week, aims to raise up to $4.87 billion in its U.S. IPO, according to a regulatory filing.
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13761.0
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2023-09-12 00:00:00 UTC
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Here is What to Know Beyond Why Apple Inc. (AAPL) is a Trending Stock
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AAPL
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https://www.nasdaq.com/articles/here-is-what-to-know-beyond-why-apple-inc.-aapl-is-a-trending-stock-6
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nan
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nan
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Apple (AAPL) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Shares of this maker of iPhones, iPads and other products have returned -0.1% over the past month versus the Zacks S&P 500 composite's +0.6% change. The Zacks Computer - Mini computers industry, to which Apple belongs, has gained 0.9% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
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.
Apple is expected to post earnings of $1.39 per share for the current quarter, representing a year-over-year change of +7.8%. Over the last 30 days, the Zacks Consensus Estimate has changed +1.3%.
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 $6.60 indicates a change of +9.2% from what Apple is expected to report a year ago. Over the past month, the estimate has changed +0.3%.
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
Projected Revenue Growth
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 $88.99 billion indicates a year-over-year change of -1.3%. For the current and next fiscal years, $382.78 billion and $405.3 billion estimates indicate -2.9% 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.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty 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.
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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) is one of the stocks most watched by Zacks.com visitors lately. 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) is one of the stocks most watched by Zacks.com visitors lately. 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 Projected Revenue Growth 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) is one of the stocks most watched by Zacks.com visitors lately. 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) is one of the stocks most watched by Zacks.com visitors lately. 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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13762.0
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2023-09-12 00:00:00 UTC
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Apple's (AAPL) iPhone 15 Launch: What to Expect
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AAPL
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https://www.nasdaq.com/articles/apples-aapl-iphone-15-launch-what-to-expect
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nan
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nan
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L
ike many of its mega-cap tech peers, Apple (AAPL) shares have traded sideways to slightly down over the past month as investors have grappled over the prospect of more interest rate hikes from the Fed, which has been waging an ongoing battle against inflation. But on Tuesday, Apple stock can carve its own path with the company set to release new products, among them, the highly-anticipated iPhone 15.
The aptly named the "Wonderlust" event will be held live from Apple Park in Cupertino, California, starting later this afternoon at 1:00 PM ET. Apple will unveil the iPhone 15 as well as new Apple Watch models, among other new products. As Apple has done with previous product reveals and announcements, this event will be live-streamed on both the company's official website and YouTube channel for audiences across the globe to tune in.
The marquee product will certainly be the iPhone 15. Analysts and consumers broadly expect Apple to unveil four models which has been the company's pattern over the past several iterations. Assuming there is no deviation, the iPhone 15 will come in both a standard and larger Plus model in the entry tier. There will likely be a more advanced Pro and Pro Max tier, which are typically higher priced models. And if you believe the rumors, this time Apple may unveil a more powerful iPhone 15 Ultra model which is rumored to be a supercharged iPhone 15 Pro Max.
In the standard iPhone 15 and iPhone 15 Plus models, Apple is said to have reduced the bezel sizes to a much slimmer look. A 48-megapixel wide-angle camera upgrade will be part of the enhancements in addition to moving away from the lightning port to USB-C connector, which has become a hardware standard. Meanwhile, in the “Pro” models, which boast enhanced battery life and performance, some of the enhancements include the new A17 chipset, built on the 3-nanometer production process. Meanwhile, the pricier Pro Max is rumored to sport a 5-6x optical zoom lens which for photography enthusiasts is a standout feature.
The Apple Watch Series 9, as well as the Vision Pro, will also take some stage time. The latter, described as a "revolutionary spatial computer,” the Vision Pro employs a three-dimensional user interface that can be controlled by users' hand gestures, eye movements, or voice controls. Apple says these collective features help to "blend the physical world with digital content.”
Vision Pro also comes with a hefty price tag of $3,499. First unveiled at the WWDC, Jefferies analyst Andrew Uerkwitz called the device the "most technologically advanced device we've seen.” At a price point of $3,499, it better be. Bullish analyst estimates calls for Apple to generate Vision Pro revenue of $5.2 billion in the first year, assuming 1.5 million units sold. On Tuesday, we may get more details about pricing and the availability of the product.
All of this brings us to Apple stock and how its shares will respond from the event. Looking at historical patterns of product unveils, there tends to be a dip in the stock, sort of a “sell the news” event. But I’m expecting the opposite to occur this time. Wedbush analyst Dan Ives agrees. Citing Apple’s tactical pricing strategy, Ives expects Apple stock to rise 20%, saying the iPhone 15 will drive a 'mini super cycle.’ The analyst noted that some 25% of the 1.2 billion iPhone installed base hasn't upgraded in four years.
It remains to be seen what the stock ultimately does after the iPhone 15 launch, but with the shares still trading about 15% below my fair value estimated of $210 per share, Apple stock presents a strong value for the next 12 to 18 months.
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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ike many of its mega-cap tech peers, Apple (AAPL) shares have traded sideways to slightly down over the past month as investors have grappled over the prospect of more interest rate hikes from the Fed, which has been waging an ongoing battle against inflation. As Apple has done with previous product reveals and announcements, this event will be live-streamed on both the company's official website and YouTube channel for audiences across the globe to tune in. Bullish analyst estimates calls for Apple to generate Vision Pro revenue of $5.2 billion in the first year, assuming 1.5 million units sold.
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ike many of its mega-cap tech peers, Apple (AAPL) shares have traded sideways to slightly down over the past month as investors have grappled over the prospect of more interest rate hikes from the Fed, which has been waging an ongoing battle against inflation. There will likely be a more advanced Pro and Pro Max tier, which are typically higher priced models. Bullish analyst estimates calls for Apple to generate Vision Pro revenue of $5.2 billion in the first year, assuming 1.5 million units sold.
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ike many of its mega-cap tech peers, Apple (AAPL) shares have traded sideways to slightly down over the past month as investors have grappled over the prospect of more interest rate hikes from the Fed, which has been waging an ongoing battle against inflation. Apple will unveil the iPhone 15 as well as new Apple Watch models, among other new products. And if you believe the rumors, this time Apple may unveil a more powerful iPhone 15 Ultra model which is rumored to be a supercharged iPhone 15 Pro Max.
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ike many of its mega-cap tech peers, Apple (AAPL) shares have traded sideways to slightly down over the past month as investors have grappled over the prospect of more interest rate hikes from the Fed, which has been waging an ongoing battle against inflation. Apple will unveil the iPhone 15 as well as new Apple Watch models, among other new products. There will likely be a more advanced Pro and Pro Max tier, which are typically higher priced models.
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13763.0
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2023-09-12 00:00:00 UTC
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Netflix (NFLX) Bolsters APAC Segment With Latest Korean Show
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AAPL
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https://www.nasdaq.com/articles/netflix-nflx-bolsters-apac-segment-with-latest-korean-show
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nan
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nan
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Netflix’s NFLX efforts to bolster its regional content portfolio offerings have been a major growth driver.
The company 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, showcasing the harsh realities of actors in the glitzy Korean film industry.
While popular Korean actress Hanee Lee will star as Jeong Hui-ran, a renowned actress removed from Madame Aema due to a studio dispute, rookie actor Shin Joo-ae will as the lead of Madame Aema.
On the other hand, the versatile actor Jin Sun-kyu will portray Gu Jung-ho, a producer struggling in Chungmuro's competitive film scene.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
Aema, directed by Lee Hae-young of Believer, Phantom and Like a Virgin, is set to premiere on Netflix in 190 countries.
Expanding Regional Portfolio
Netflix is adding an array of Korean originals to its portfolio of regional content offerings.
The recent release of Korean originals like Mask Girl and the ongoing K-dramas Behind Your Touch and Destined With You holds testimony to the aforesaid fact.
While Mask Girl is placed second in the weekly Top 10 Non-English TV charts with 3.5 million views, Destined With You and Behind Your Touch is ranked third and seventh with 2.9 million and 1.4 million views, respectively.
Expanding the Korean language portfolio will strengthen the Asia-Pacific (APAC) segment’s performance in the near term.
For the second quarter of 2023, the paid subscriber base for APAC jumped 16.5% year over year to 40.55 million, adding 1.07 million new paid subscribers.
Wrapping Up
Strong momentum in Netflix’s foreign-language portfolio offerings will benefit top-line growth amid stiff competition from industry peers like Apple AAPL, Disney DIS and Amazon AMZN.
Netflix’s shares have gained 51.2% year to date, outperforming the Zacks Consumer Discretionary sector’s return of 8.5%. It also outperformed Apple and Disney but underperformed Amazon.
Notably, shares of Apple and Amazon have returned 37.4% and 68.1%, respectively, while shares of Disney have declined 4.4% on a year-to-date basis.
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. The Zacks Consensus Estimate for the same is pegged at $3.49 per share, indicating year-over-year growth of 12.58%.
Total revenues are anticipated to be $8.52 billion, suggesting growth of 7% year over year and also on a forex-neutral basis. The consensus estimate for the same is pegged at $8.53 billion, suggesting growth of 7.59% on a year-over-year basis.
Currently, Netflix has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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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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Wrapping Up Strong momentum in Netflix’s foreign-language portfolio offerings will benefit top-line growth amid stiff competition from industry peers like 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. On the other hand, the versatile actor Jin Sun-kyu will portray Gu Jung-ho, a producer struggling in Chungmuro's competitive film scene.
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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. Wrapping Up Strong momentum in Netflix’s foreign-language portfolio offerings will benefit top-line growth amid stiff competition from industry peers like Apple AAPL, Disney DIS and Amazon AMZN. Expanding Regional Portfolio Netflix is adding an array of Korean originals to its portfolio of regional content offerings.
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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. Wrapping Up Strong momentum in Netflix’s foreign-language portfolio offerings will benefit top-line growth amid stiff competition from industry peers like Apple AAPL, Disney DIS and Amazon AMZN. Netflix, Inc. Price and Consensus Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote Aema, directed by Lee Hae-young of Believer, Phantom and Like a Virgin, is set to premiere on Netflix in 190 countries.
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Wrapping Up Strong momentum in Netflix’s foreign-language portfolio offerings will benefit top-line growth amid stiff competition from industry peers like 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. The company 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, showcasing the harsh realities of actors in the glitzy Korean film industry.
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13764.0
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2023-09-12 00:00:00 UTC
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After Hours Most Active for Sep 12, 2023 : PTEN, BP, BAC, QQQ, HST, AAPL, FCX, KEY, INTC, C, GOOGL, GM
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-sep-12-2023-%3A-pten-bp-bac-qqq-hst-aapl-fcx-key-intc-c-googl-gm
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nan
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The NASDAQ 100 After Hours Indicator is down -2.48 to 15,287.26. The total After hours volume is currently 72,369,494 shares traded.
The following are the most active stocks for the after hours session:
Patterson-UTI Energy, Inc. (PTEN) is -0.43 at $15.31, with 8,295,235 shares traded. As reported by Zacks, the current mean recommendation for PTEN is in the "buy range".
BP p.l.c. (BP) is +0.0399 at $38.14, with 3,565,168 shares traded. BP's current last sale is 91.9% of the target price of $41.5.
Bank of America Corporation (BAC) is +0.01 at $28.98, with 3,235,993 shares traded. BAC's current last sale is 82.8% of the target price of $35.
Invesco QQQ Trust, Series 1 (QQQ) is +0.15 at $372.94, with 2,728,806 shares traded. This represents a 46.68% increase from its 52 Week Low.
Host Hotels (HST) is unchanged at $16.35, with 1,789,770 shares traded. HST's current last sale is 77.86% of the target price of $21.
Apple Inc. (AAPL) is +0.02 at $176.32, with 1,759,805 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Freeport-McMoran, Inc. (FCX) is unchanged at $40.06, with 1,756,935 shares traded. FCX's current last sale is 91.05% of the target price of $44.
KeyCorp (KEY) is -0.01 at $11.76, with 1,519,819 shares traded. KEY's current last sale is 90.46% of the target price of $13.
Intel Corporation (INTC) is -0.04 at $38.82, with 1,478,793 shares traded., following a 52-week high recorded in today's regular session.
Citigroup Inc. (C) is +0.03 at $41.71, with 1,406,340 shares traded. C's current last sale is 83.42% of the target price of $50.
Alphabet Inc. (GOOGL) is -0.09 at $135.25, with 1,353,926 shares traded. As reported by Zacks, the current mean recommendation for GOOGL is in the "buy range".
General Motors Company (GM) is +0.28 at $33.75, with 1,228,500 shares traded. GM's current last sale is 73.37% of the target price of $46.
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 reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is +0.02 at $176.32, with 1,759,805 shares traded. As reported by Zacks, the current mean recommendation for PTEN is in the "buy range".
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is +0.02 at $176.32, with 1,759,805 shares traded. As reported by Zacks, the current mean recommendation for PTEN is in the "buy range".
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Apple Inc. (AAPL) is +0.02 at $176.32, with 1,759,805 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The total After hours volume is currently 72,369,494 shares traded.
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Apple Inc. (AAPL) is +0.02 at $176.32, with 1,759,805 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". (BP) is +0.0399 at $38.14, with 3,565,168 shares traded.
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13765.0
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2023-09-12 00:00:00 UTC
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Should SPDR MSCI USA StrategicFactors ETF (QUS) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-spdr-msci-usa-strategicfactors-etf-qus-be-on-your-investing-radar-9
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The SPDR MSCI USA StrategicFactors ETF (QUS) was launched on 04/15/2015, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
The fund is sponsored by State Street Global Advisors. It has amassed assets over $1.01 billion, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Companies that fall in the large cap category tend to have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.
Blend ETFs usually hold a mix of growth and value stocks as well as stocks that exhibit both value and growth characteristics.
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 0.15%, making it one of the cheaper products in the space.
It has a 12-month trailing dividend yield of 1.57%.
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 24.20% of the portfolio. Healthcare and Financials round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 2.90% of total assets, followed by Microsoft Corp (MSFT) and Nvidia Corp (NVDA).
The top 10 holdings account for about 21.26% of total assets under management.
Performance and Risk
QUS seeks to match the performance of the MSCI USA Factor Mix A-Series Index before fees and expenses. The MSCI USA Factor Mix A-Series Index measures the equity market performance of large and mid-cap companies across the U.S. equity market. It aims to represent the performance of a combination of three factors: value, quality, and low volatility.
The ETF return is roughly 13.85% so far this year and it's up approximately 10.91% in the last one year (as of 09/12/2023). In the past 52-week period, it has traded between $101.25 and $126.74.
The ETF has a beta of 0.91 and standard deviation of 16.01% for the trailing three-year period, making it a medium risk choice in the space. With about 630 holdings, it effectively diversifies company-specific risk.
Alternatives
SPDR MSCI USA StrategicFactors 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, QUS is a sufficient option for those seeking exposure to the Style Box - Large Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Core S&P 500 ETF (IVV) and the SPDR S&P 500 ETF (SPY) track a similar index. While iShares Core S&P 500 ETF has $350.62 billion in assets, SPDR S&P 500 ETF has $413.19 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
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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SPDR MSCI USA StrategicFactors ETF (QUS): ETF Research Reports
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
SPDR S&P 500 ETF (SPY): ETF Research Reports
iShares Core S&P 500 ETF (IVV): 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 2.90% of total assets, followed by Microsoft Corp (MSFT) and Nvidia Corp (NVDA). Click to get this free report SPDR MSCI USA StrategicFactors ETF (QUS): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. The SPDR MSCI USA StrategicFactors ETF (QUS) was launched on 04/15/2015, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
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Click to get this free report SPDR MSCI USA StrategicFactors ETF (QUS): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 2.90% of total assets, followed by Microsoft Corp (MSFT) and Nvidia Corp (NVDA). Performance and Risk QUS seeks to match the performance of the MSCI USA Factor Mix A-Series Index before fees and expenses.
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Click to get this free report SPDR MSCI USA StrategicFactors ETF (QUS): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 2.90% of total assets, followed by Microsoft Corp (MSFT) and Nvidia Corp (NVDA). Alternatives SPDR MSCI USA StrategicFactors 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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Click to get this free report SPDR MSCI USA StrategicFactors ETF (QUS): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Apple Inc (AAPL) accounts for about 2.90% of total assets, followed by Microsoft Corp (MSFT) and Nvidia Corp (NVDA). Costs Investors should also pay attention to an ETF's expense ratio.
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13766.0
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2023-09-12 00:00:00 UTC
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GLOBAL MARKETS-Markets await U.S. inflation test, surging oil add to price jitters
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AAPL
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https://www.nasdaq.com/articles/global-markets-markets-await-u.s.-inflation-test-surging-oil-add-to-price-jitters
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nan
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By Stella Qiu
SYDNEY, Sept 13 (Reuters) - Asian shares were subdued after Wall Street wobbled overnight with markets bracing for key U.S. inflation data on Wednesday, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook.
The euro edged higher and markets moved to favour a hike from Europe's central bank on Thursday, following a Reuters report that the European Central Bank (ECB) expects inflation will stay above 3% next year in its updated forecasts, well above its target of 2%.
Australia's resource-heavy shares .AXJO lost 0.7%, Chinese blue-chips .CSI300 were flat but Hong Kong's Hang Seng index .HSI moved 0.6% higher.
At the forefront of markets' minds is the crucial U.S. Consumer Price Index (CPI) report expected on Wednesday, which should shed further light on the inflation outlook and provide some clarity about whether the Federal Reserve is done tightening.
While core CPI is seen cooling to 4.3% year-on-year in August from 4.7%, rising energy costs are forecast to keep headline inflation hot. And the latest spike in oil prices to ten-month highs is unlikely to escape the Fed's attention.
"What's happening with oil and headline inflation is still too soon for the Fed to be signaling the all clear as far as the risks of some incremental tightening before they're done," said Ray Attrill, a currency strategist at National Australia Bank.
"When you have those sort of volatility in the food and energy components, the worry is that if it's persistent then it does tend to bleed into core inflation measures over time."
Oil prices extended gains on Wednesday. Brent crude futures LCOc1 settled at $92.24 per barrel, nearing a ten-month peak that it hit a session ago on persistent supply concerns. U.S. West Texas Intermediate crude futures CLc1 were up 0.3% at $89.08. O/R
On Wall Street, the S&P 500 fell 0.6% overnight, the Nasdaq declined 1% while Dow Jones was mostly flat.
Apple AAPL.O dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets.
The euro EUR=EBS firmed 30 pips to $1.0765 on the Reuters story while markets moved to favour a rate hike from the ECB on Thursday with a 75% probability, compared with a split chance previously. 0#ECBWATCH
The U.S. dollar recovered some of its recent losses on the yen, up 0.2% to 147.35 yen JPY=EBS after comments from Japan's top central banker on a possible early exit from its negative interest rate policy sent the yen soaring. FRX/
Treasury yields climbed higher on Wednesday, with the two-year note US2YT=RR touching 5.0264%, compared with a U.S. close of 5.005%. Ten-year yields US10YT=RR held at 4.2881%, up from the close of 4.264%.
The gold price XAU= was flat at $1,912.85 per ounce.
Asia stock markets https://tmsnrt.rs/2zpUAr4
Asia-Pacific valuations https://tmsnrt.rs/2Dr2BQA
(Reporting by Stella Qiu Editing by Shri Navaratnam)
((yifan.qiu@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 dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets. At the forefront of markets' minds is the crucial U.S. Consumer Price Index (CPI) report expected on Wednesday, which should shed further light on the inflation outlook and provide some clarity about whether the Federal Reserve is done tightening. "What's happening with oil and headline inflation is still too soon for the Fed to be signaling the all clear as far as the risks of some incremental tightening before they're done," said Ray Attrill, a currency strategist at National Australia Bank.
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Apple AAPL.O dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets. By Stella Qiu SYDNEY, Sept 13 (Reuters) - Asian shares were subdued after Wall Street wobbled overnight with markets bracing for key U.S. inflation data on Wednesday, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook. The euro edged higher and markets moved to favour a hike from Europe's central bank on Thursday, following a Reuters report that the European Central Bank (ECB) expects inflation will stay above 3% next year in its updated forecasts, well above its target of 2%.
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Apple AAPL.O dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets. By Stella Qiu SYDNEY, Sept 13 (Reuters) - Asian shares were subdued after Wall Street wobbled overnight with markets bracing for key U.S. inflation data on Wednesday, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook. The euro edged higher and markets moved to favour a hike from Europe's central bank on Thursday, following a Reuters report that the European Central Bank (ECB) expects inflation will stay above 3% next year in its updated forecasts, well above its target of 2%.
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Apple AAPL.O dropped 1.8% after unveiling new iPhones while not increasing prices as it faces a global smartphone glut, and Oracle sharesORCL.N tumbled more than 13% after the cloud-services provider forecast current-quarter revenue below targets. By Stella Qiu SYDNEY, Sept 13 (Reuters) - Asian shares were subdued after Wall Street wobbled overnight with markets bracing for key U.S. inflation data on Wednesday, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook. And the latest spike in oil prices to ten-month highs is unlikely to escape the Fed's attention.
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13767.0
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2023-09-12 00:00:00 UTC
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Plunge in Oracle Weighs on Tech Stocks and Overall Market
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AAPL
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https://www.nasdaq.com/articles/plunge-in-oracle-weighs-on-tech-stocks-and-overall-market
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What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.41%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.60%.
Stock indexes this morning are moderately lower. Weakness in technology stocks is weighing on the overall market, with Oracle down more than -12% after reporting weaker-than-expected Q1 revenue due to slowing cloud sales. Morgan Stanley said Oracle’s results raise questions about the timing of generative artificial intelligence (AI) demand turning into revenue across the broader business.
U.S. financial markets are awaiting Wednesday’s consumer price data for direction. The U.S. Aug CPI is expected to increase to +3.6% y/y from July’s +3.2% and June’s 2-1/4 year low of +3.0%. However, the Aug core CPI is expected to ease to a new 1-3/4 year low of +4.3% y/y from July’s 1-3/4 year low of +4.7%.
The markets are discounting the odds at 7% for a +25 bp rate hike at the September 20 FOMC meeting and 44% for that +25 bp rate hike at the November 1 FOMC meeting.
Global bond yields are mixed. The 10-year T-note yield is up +0.2 bp at 4.289%. The 10-year German bund yield is down -0.3 bp at 2.635%. The 10-year UK gilt yield fell to a 1-week low of 4.407% and is down -5.1 bp at 4.420%.
Overseas stock markets are mixed. The Euro Stoxx 50 is down -0.33%. China’s Shanghai Composite Index closed -0.18%. Japan’s Nikkei Stock Index closed +0.95%.
Today’s stock movers…
Oracle (ORCL) is down more than -12% to lead losers in the S&P 500 after reporting Q1 adjusted revenue of $12.45 billion, weaker than the consensus of $12.47 billion.
Northern Trust (NTRS) is down more than -7% after a disappointing presentation at the Barclays Global Financial Services Conference.
RTX Corp (RTX) is down more than -3% after RBC Capital Markets downgraded the stock to sector perform from outperform.
AerCap Holdings (AER) is down more than -3% after holder GE Capital offered 32.4 million shares of AerCap via Goldman Sachs, Citigroup, Barclays, Bank of America Securities, and JPMorgan Chase.
Apple (AAPL) is down more than -1% to lead losers in the Dow Jones Industrials ahead of today’s launch of its new iPhone 15 product line.
Acelyrin (SLRN) plunged more than -60% after its drug izokibep did not meet the primary endpoint of a clinical trial of patients with hidradenitis suppurativa, a chronic inflammatory skin condition. Citigroup opened a positive catalyst watch on the stock, seeing “a rich catalyst path ahead” for the company.
Comerica (CMA) is down more than -3% after CEO Farmer said Q3 expenses could come in above prior guidance, and the company hasn’t added any brokered deposits this quarter.
United Parcel Service (UPS) is down more than -3% after CEO Tome said the company would pay out the biggest portion of its new five-year labor pact over the next 12 months, making for a challenging upcoming year.
Zions Bancorp (ZION) is up more than +5% to lead gainers in the S&P 500 after the company gave an update on trends so far this quarter on deposits, net interest margin, and net interest income that were all better than estimates.
Westrock (WRK) is up more than +4% after Smurfit Kappa Group Plc agreed to acquire the company in a $11.2 billion deal.
Energy stocks are climbing today, with the price of WTI crude up more than +1% at a nearly 10-month high. As a result, Exxon Mobil (XOM), Occidental Petroleum (OXY), APA Corp (APA), Marathon Oil (MRO), Hess Corp (HES), and Chevron (CVX) are up more than +2%. Also, ConocoPhillips (COP), Diamondback Energy (FANG), Haliburton (HAL), Devon Energy (DVN), and Valero Energy (VLO) are up more than +1%.
Intel (INTC) is up more than +2% to lead gainers in the Dow Jones Industrials after agreeing to sell roughly a 10% stake in the IMS Nanofabrication business to Taiwan Semiconductor Manufacturing for about $4.3 billion.
U.S. automakers are climbing today after Deputy Treasury Secretary Adeyemo said the Biden administration has deployed top officials to facilitate talks between the UAW and automakers and expects a deal between the parties. As a result, General Motors (GM), Ford Motor (F), and Stellantis NV (STLA) are up more than +2%.
PayPal Holdings (PYPL) is up more than +2% after it extended its relationship with Uber to include expanded use of payment processing and alternative debt network routing.
Cintas (CTAS) is up more than +2% after Bank of America Globa Research upgraded the stock to buy from neutral with a price target of $580.
Across the markets…
December 10-year T-notes (ZNZ23) today are down -2 ticks, and the 10-year T-note yield is up +0.2 bp at 4.289%. Dec T-note prices today gave up early gains and are slightly lower. An increase in inflation expectations is undercutting T-note prices as the 10-year breakeven inflation rate today climbed to a 2-1/2 week high of 2.359%. Also, supply pressures are weighing on T-notes as the Treasury will auction $35 billion of re-opened 10-year T-notes later today as part of this week’s $99 billion package of T-note and T-bond auctions. T-notes this morning initially opened higher on carry-over support from today’s rally in 10-year UK gilts to a 1-week high. Also, weakness in stocks today has spurred some safe-haven demand for T-notes.
The dollar index (DXY00) today is up by +0.27%. Weakness in stocks today has boosted the liquidity demand for the dollar. Also, short covering in the dollar ahead of Wednesday’s U.S. August consumer price report is lifting the dollar.
EUR/USD (^EURUSD) is down by -0.29%. Strength in the dollar today is weighing on the euro. Also, a less than 50% chance that the ECB will raise interest rates on Thursday is undercutting the euro as the markets are discounting the odds at 46% that the ECB will raise interest rates by 25 bp at Thursday’s policy meeting.
Today’s Eurozone economic news supported EUR/USD after the German Sep ZEW survey expectations of economic growth unexpectedly rose +0.9 to -11.4, stronger than expectations of a decline to -15.0.
USD/JPY (^USDJPY) is up +0.38%. The yen today is moderately lower. Central bank divergence is bearish for the yen, with the ECB and Federal Reserve currently raising interest rates while the BOJ maintains record-low interest rates. Higher Japanese government bond yields are bullish for the yen as the 10-year JGB bond yield today climbed to a new 9-1/2 year high of 0.722%.
October gold (GCV3) today is down -15.1 (-0.78%), and Dec silver (SIZ23) is down -0.138 (-0.59%). Precious metals prices this morning are moderately lower, with gold falling to a 2-1/2 week low and silver dropping to a 3-week low. A stronger dollar today is bearish for metals prices. Also, the continued liquidation of gold holdings by funds is bearish for gold after long gold holdings in ETFs fell to a 3-1/3 year low last Friday. Losses in gold accelerated today on technical selling after prices fell below the 200-day moving average. Lower global bond yields today are a bullish factor for precious metals.
More Stock Market News from Barchart
Markets Today: Stock Index Futures Slide as Oracle Plunges on Disappointing Cloud Sales
How To Buy JPM For A 6% Discount, Or Achieve An 11% Annual Return
Get 'em While They're Hot: 3 Enterprise Software Companies To Buy Before They Soar
Stock Index Futures Slip as Investors Brace for U.S. Inflation Data, Oracle Results Disappoint
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 down more than -1% to lead losers in the Dow Jones Industrials ahead of today’s launch of its new iPhone 15 product line. Acelyrin (SLRN) plunged more than -60% after its drug izokibep did not meet the primary endpoint of a clinical trial of patients with hidradenitis suppurativa, a chronic inflammatory skin condition. United Parcel Service (UPS) is down more than -3% after CEO Tome said the company would pay out the biggest portion of its new five-year labor pact over the next 12 months, making for a challenging upcoming year.
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Apple (AAPL) is down more than -1% to lead losers in the Dow Jones Industrials ahead of today’s launch of its new iPhone 15 product line. An increase in inflation expectations is undercutting T-note prices as the 10-year breakeven inflation rate today climbed to a 2-1/2 week high of 2.359%. Also, a less than 50% chance that the ECB will raise interest rates on Thursday is undercutting the euro as the markets are discounting the odds at 46% that the ECB will raise interest rates by 25 bp at Thursday’s policy meeting.
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Apple (AAPL) is down more than -1% to lead losers in the Dow Jones Industrials ahead of today’s launch of its new iPhone 15 product line. Also, supply pressures are weighing on T-notes as the Treasury will auction $35 billion of re-opened 10-year T-notes later today as part of this week’s $99 billion package of T-note and T-bond auctions. Also, a less than 50% chance that the ECB will raise interest rates on Thursday is undercutting the euro as the markets are discounting the odds at 46% that the ECB will raise interest rates by 25 bp at Thursday’s policy meeting.
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Apple (AAPL) is down more than -1% to lead losers in the Dow Jones Industrials ahead of today’s launch of its new iPhone 15 product line. The 10-year UK gilt yield fell to a 1-week low of 4.407% and is down -5.1 bp at 4.420%. Precious metals prices this morning are moderately lower, with gold falling to a 2-1/2 week low and silver dropping to a 3-week low.
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13768.0
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2023-09-12 00:00:00 UTC
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Rosenblatt Reiterates Apple (AAPL) Neutral Recommendation
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AAPL
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https://www.nasdaq.com/articles/rosenblatt-reiterates-apple-aapl-neutral-recommendation
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nan
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Fintel reports that on September 12, 2023, Rosenblatt reiterated coverage of Apple (NASDAQ:AAPL) with a Neutral recommendation.
Analyst Price Forecast Suggests 14.13% 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 14.13% from its latest reported closing price of 179.36.
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 6406 funds or institutions reporting positions in Apple. This is an increase of 44 owner(s) or 0.69% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 4.13%, an increase of 10.02%. Total shares owned by institutions increased in the last three months by 0.28% to 9,941,592K 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.
Additional reading:
Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares which are reflected in thousands and per share amounts)
APPLE INC. Officer’s Certificate
Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares which are reflected in thousands and per share amounts)
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 12, 2023, Rosenblatt 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 10.02%. The put/call ratio of AAPL is 0.88, indicating a bullish outlook.
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Fintel reports that on September 12, 2023, Rosenblatt 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 10.02%. The put/call ratio of AAPL is 0.88, indicating a bullish outlook.
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Fintel reports that on September 12, 2023, Rosenblatt 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 10.02%. The put/call ratio of AAPL is 0.88, indicating a bullish outlook.
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Fintel reports that on September 12, 2023, Rosenblatt 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 10.02%. The put/call ratio of AAPL is 0.88, indicating a bullish outlook.
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13769.0
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2023-09-12 00:00:00 UTC
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US STOCKS-S&P 500 dips as oil prices fan inflation fear, Oracle slumps on weak forecast
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AAPL
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https://www.nasdaq.com/articles/us-stocks-sp-500-dips-as-oil-prices-fan-inflation-fear-oracle-slumps-on-weak-forecast
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nan
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nan
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By Noel Randewich and Ankika Biswas
Sept 12 (Reuters) - The S&P 500 and Nasdaq fell on Tuesday as a jump in oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after its downbeat forecast and results.
Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data.
"People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November" when some investors worry Federal Reserve policy makers may raise rates again, said Thomas Hayes, chairman at Great Hill Capital LLC.
Investors are awaiting August consumer price index data due on Wednesday and producer prices reading scheduled for Thursday to gauge the outlook for U.S. interest rates ahead of the Fed's meeting on Sept. 20.
Interest rate traders see a 93% chance of rates remaining at the current levels in September but just a 56% likelihood of a pause at the November meeting, according to the CME FedWatch Tool.
"All the all the inputs that we get between now and the November meeting will be important, especially those related to inflation. So that thrusts a lot of importance on tomorrow's CPI report," said Art Hogan, chief market strategist at B Riley Wealth.
Investors will also monitor the European Central Bank's policy decision on Thursday, when it is seen holding rates after nine consecutive hikes.
Cloud-services provider Oracle ORCL.N dropped 14% to its lowest intra-day level in three months, after forecasting current-quarter revenue below targets and narrowly missing first-quarter expectations.
Cloud-computing heavyweights Amazon.com AMZN.O and Microsoft MSFT.O fell by about 1%, pressured by Oracle's weak forecast and by a rise in U.S. Treasury yields.
While higher oil prices fanned inflation fears, they lifted energy stocks .SPNY by 1.3% to lead gains among major S&P 500 sector indexes. O/R
Apple AAPL.O was down 1.4%, hurt by a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%.
Also, Apple unveiled a new iPhone on Tuesday amid uncertainty about market access in China and intensifying competition.
The S&P 500 was down 0.25% at 4,476.45 points.
The Nasdaq declined 0.64% to 13,828.41 points, while the Dow Jones Industrial Average was up 0.30% at 34,767.56 points.
The most traded stock in the S&P 500 was Tesla Inc TSLA.OQ, with $28.3 billion worth of shares exchanged during the session. The electric car maker's shares declined 1.67%.
WestRock WRK.N jumped 3.7% on agreeing to merge with Europe's Smurfit Kappa SKG.I to create the world's largest listed paper and packaging company, worth nearly $20 billion.
Advance Auto Parts AAP.N lost 5.7% after S&P Global downgraded the auto parts retailer's credit and debt ratings from investment grade (BBB-) to junk (BB+).
Zions Bancorp ZION.Ojumped 7.5% after the U.S. regional lender posted a slight increase in its monthly net interest income growth.
Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 1.2-to-one ratio.
The S&P 500 posted 12 new highs and 14 new lows; the Nasdaq recorded 43 new highs and 161 new lows.
(Reporting by Ankika Biswas and Shristi Achar A in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Arun Koyyur, Vinay Dwivedi and David Gregorio)
((noel.randewich@tr.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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O/R Apple AAPL.O was down 1.4%, hurt by a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%. Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data. Cloud-services provider Oracle ORCL.N dropped 14% to its lowest intra-day level in three months, after forecasting current-quarter revenue below targets and narrowly missing first-quarter expectations.
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O/R Apple AAPL.O was down 1.4%, hurt by a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%. By Noel Randewich and Ankika Biswas Sept 12 (Reuters) - The S&P 500 and Nasdaq fell on Tuesday as a jump in oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after its downbeat forecast and results. "People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November" when some investors worry Federal Reserve policy makers may raise rates again, said Thomas Hayes, chairman at Great Hill Capital LLC.
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O/R Apple AAPL.O was down 1.4%, hurt by a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%. By Noel Randewich and Ankika Biswas Sept 12 (Reuters) - The S&P 500 and Nasdaq fell on Tuesday as a jump in oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after its downbeat forecast and results. "People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November" when some investors worry Federal Reserve policy makers may raise rates again, said Thomas Hayes, chairman at Great Hill Capital LLC.
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O/R Apple AAPL.O was down 1.4%, hurt by a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%. By Noel Randewich and Ankika Biswas Sept 12 (Reuters) - The S&P 500 and Nasdaq fell on Tuesday as a jump in oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after its downbeat forecast and results. Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data.
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13770.0
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2023-09-12 00:00:00 UTC
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Apple has a plan for climate-friendlier watches: cut plane travel
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AAPL
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https://www.nasdaq.com/articles/apple-has-a-plan-for-climate-friendlier-watches%3A-cut-plane-travel
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nan
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nan
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By Stephen Nellis
CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes, and the biggest change is that more of the transportation will be by boat instead of planes.
Apple aims to be carbon neutral by 2030, including its supply chain. One of the biggest challenges to achieving that is cutting emissions from Apple's speedy transportation network, which relies heavily on planes.
Apple was a pioneer in using planes to haul consumer electronics from factories in China to destinations around the world, helping reduce the inventory it needs to hold and boosting its profits.
For the three new watches, half of shipments by weight, from factory to destinations such as regional distribution hubs, will happen over boats, trains or other non-air methods that burn less fuel and create fewer carbon emissions that warm the planet, Apple executives said in an interview at Apple's Cupertino, California, headquarters.
The three green-tagged versions of the Apple Watch Series 9, Apple Watch SE and Apple Watch Ultra 2 will have lower emissions than Apple's baseline estimations based on previous products, and Apple will buy carbon offsets for remaining emissions, said Lisa Jackson, the head of the company's environmental and governance efforts.
"We could in theory do that (buy offsets) tomorrow, and everything would be carbon neutral, but we wanted to be really clear that we're taking action on everything we know how to do to reduce (emissions) with existing technology," Jackson said.
The company has said previously that a Series 8 watch created 33 kg (73 lb) of carbon emissions, from raw materials to delivery to end customers.
The new climate-friendlier aluminum Series 9 with a sport loop band will have 8.1 kg (18 lb) of emissions remaining after Apple's changes, and the company will cover that remainder by buying carbon credits. That compares with 29 kg (64 lb) of emissions for the standard stainless steel version of the Series 9 with the same band.
Apple has been focused on cutting carbon emissions for some time. All new watches, including standard editions, also use custom alloys of aluminum and titanium that are made from recycled materials and batteries that contain only recycled cobalt, a mineral whose mining poses both climate and human rights concerns.
"We're absolutely planning to roll that out across" more of Apple's products in the future, John Ternus, the firm's hardware engineering chief, told Reuters. "As we push forward and we engage with suppliers on these recycled material supply chains, we find that we're usually the first ones talking to them about it."
The green-tagged watches will cost the same as the standard versions. Executives did not comment directly on whether they would be less profitable than the standard ones, but Jackson said Apple is focused making changes that it and other businesses can carry into the future.
"In order to make this replicable, it couldn't be a premium, because most businesses are willing to make the change, but they need to still be able to be in business, make money and pay their workers and buy materials," Jackson said.
(Reporting by Stephen Nellis in Cupertino, California; Editing by Peter Henderson and Lisa Shumaker)
((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 CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes, and the biggest change is that more of the transportation will be by boat instead of planes. Apple was a pioneer in using planes to haul consumer electronics from factories in China to destinations around the world, helping reduce the inventory it needs to hold and boosting its profits. "We could in theory do that (buy offsets) tomorrow, and everything would be carbon neutral, but we wanted to be really clear that we're taking action on everything we know how to do to reduce (emissions) with existing technology," Jackson said.
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By Stephen Nellis CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes, and the biggest change is that more of the transportation will be by boat instead of planes. The three green-tagged versions of the Apple Watch Series 9, Apple Watch SE and Apple Watch Ultra 2 will have lower emissions than Apple's baseline estimations based on previous products, and Apple will buy carbon offsets for remaining emissions, said Lisa Jackson, the head of the company's environmental and governance efforts. The company has said previously that a Series 8 watch created 33 kg (73 lb) of carbon emissions, from raw materials to delivery to end customers.
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By Stephen Nellis CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes, and the biggest change is that more of the transportation will be by boat instead of planes. For the three new watches, half of shipments by weight, from factory to destinations such as regional distribution hubs, will happen over boats, trains or other non-air methods that burn less fuel and create fewer carbon emissions that warm the planet, Apple executives said in an interview at Apple's Cupertino, California, headquarters. The three green-tagged versions of the Apple Watch Series 9, Apple Watch SE and Apple Watch Ultra 2 will have lower emissions than Apple's baseline estimations based on previous products, and Apple will buy carbon offsets for remaining emissions, said Lisa Jackson, the head of the company's environmental and governance efforts.
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By Stephen Nellis CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes, and the biggest change is that more of the transportation will be by boat instead of planes. The three green-tagged versions of the Apple Watch Series 9, Apple Watch SE and Apple Watch Ultra 2 will have lower emissions than Apple's baseline estimations based on previous products, and Apple will buy carbon offsets for remaining emissions, said Lisa Jackson, the head of the company's environmental and governance efforts. The company has said previously that a Series 8 watch created 33 kg (73 lb) of carbon emissions, from raw materials to delivery to end customers.
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13771.0
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2023-09-12 00:00:00 UTC
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4 Stocks Set to Profit From the New China Apple iPhone Ban
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AAPL
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https://www.nasdaq.com/articles/4-stocks-set-to-profit-from-the-new-china-apple-iphone-ban
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Last week, Apple (NASDAQ:AAPL) encountered a notable disturbance following reports of a ban imposed on Chinese government officials using iPhones. China’s Apple iPhone ban has sent shockwaves across the financial realm, leading to a consecutive two-day decline in Apple’s stock value. The consequences of this situation hold significant weight, especially given the country’s pivotal role as one of Apple’s primary markets, contributing substantially to its earnings and serving as the central hub for iPhone manufacturing.
The stock of Apple has undergone a successive decline over two days in reaction to reports concerning the proscription of iPhones for Chinese government personnel. This descent has resulted in a nearly $200 billion drop in the company’s market capitalization, with shares plummeting approximately 6% to $175. This downturn sparks concerns regarding Apple’s financial standing and elicits inquiries into the broader ramifications for Western enterprises conducting business in China. Amidst fears of China’s Apple iPhone ban, investors might look for alternatives to hedge their risks.
China Apple iPhone Ban Winners: Dell Technologies (DELL)
Source: Ken Wolter / Shutterstock.com
Dell Technologies (NYSE:DELL) has shown remarkable resilience and growth potential despite facing challenges in the PC and laptop market and some weaknesses in the data center server market. In its second-quarter fiscal 2024 earnings report, the company reported a 13% decline in revenue compared to the previous year.
However, what sets Dell apart is its strong performance in the artificial intelligence (AI) server business, driven by generative AI services powered by Nvidia (NASDAQ:NVDA) graphics processing units (GPUs).
Dell’s robust performance in the AI server segment is a significant highlight. Generative AI services accounted for 20% of total server revenue in Q2, translating to approximately $860 million in AI sales. This performance was driven by data center storage devices and servers powered by Nvidia’s high-end GPUs for generative AI.
Despite the revenue decline, Dell managed to limit the fall in earnings per share (EPS) to just 7% year over year in Q2. On an adjusted basis, excluding certain expenses, EPS increased by 4% year over year. This showcases Dell’s ability to maintain profitability even in challenging market conditions.
Dell’s stock is trading at a reasonable valuation, with a 12-month price-to-earnings ratio of 26 and a yearly free cash flow multiple of under 10. This makes Dell an attractive option for value-oriented investors.
Dell offers a dividend yield of nearly 2.2% and actively engages in stock buyback programs, demonstrating its commitment to delivering value to shareholders. Importantly, it’s noteworthy that Dell is not affected by the China Apple iPhone ban.
Microsoft (MSFT)
Source: Ascannio / Shutterstock.com
Microsoft (NASDAQ:MSFT) leads in AI, setting itself apart from rivals like Apple. Microsoft’s AI journey thrives on strategic alliances, forward-looking investments, and a holistic approach.
The company’s dedication to AI innovation is underscored by its $10 billion investment in OpenAI, known for pioneering tech like ChatGPT.
Microsoft 365 Copilot, a versatile AI productivity tool at $30 per user per month, stands as a milestone. It boosts productivity across Microsoft 365 apps, projecting $14 billion in revenue by Macquarie Equity Research with a 40% attach rate.
Microsoft’s cloud infrastructure, Azure, is a juggernaut, contributing over 50% of total revenue. Azure AI is pivotal in AI-first workloads and partnerships with industry leaders like Meta, reflecting surging AI demand.
Microsoft’s Office 365 suite, featuring Office to Outlook, remains resilient amid challenges. Innovations like Microsoft 365 Copilot and potential upselling promise substantial growth.
CEO Satya Nadella expects to double revenue to $500 billion by 2030, emphasizing Microsoft Cloud and Microsoft Plus.
Microsoft focuses on software, cloud services, and enterprise solutions, which are less susceptible to bans on consumer hardware like iPhones. Microsoft’s revenue in China primarily comes from its cloud computing platform, Azure, and software offerings like Windows and Office, which were not directly affected by the China Apple iPhone ban.
Valuing Microsoft at a 35x 2024-25 EV/FCF multiple, factoring in Microsoft 365 Copilot and AI-driven innovations, sets a target price range of $394.74 (Base case) to $451.08 (Bull case), signaling significant upside potential.
Microsoft’s steadfast AI commitment, diverse portfolio, and visionary leadership make it an enticing investment opportunity with promising growth prospects. The China Apple iPhone ban has no impact on Microsoft’s AI endeavors.
Nvidia (NVDA)
Source: Evolf / Shutterstock.com
In 2023, Nvidia stock has shown consistent growth, with buyer accumulation, despite encountering resistance and experiencing a false breakout and retracement.
Nvidia’s Q2 2023 financials are robust, reporting revenue of $13.5 billion and a net income of $6.19 billion. Notably, the estimated EPS for Q2 2023 was 2.08, outperformed by the reported EPS of 2.70, yielding a positive surprise of 29.69%. Furthermore, the forecasted EPS for the next quarter stands at a positive 3.31.
NVDA stock seems to be poised for significant growth, supported by enthusiastic buyers striving to maintain current levels. Although there are signs of weakening in the share price’s bullish momentum, NVDA stock remains in an uptrend above key moving averages on daily charts.
The stock has rebounded after a pullback and boasts a market capitalization of $1.13 trillion. Analysts have issued a strong buy rating with a yearly target price of $1,100.
The stock price of NVDA has exhibited a bullish trend throughout the whole year, reaching a high of $456 by August 31, 2023, from a low of $109. The current price has the potential to reach further heights, targeting a resistance level of $500, though a break below the $470 support level could lead to a decline below $450. Technical analysis suggests bullish sentiment, with the RSI at around 60.
Nvidia’s business in China was not significantly affected by the China Apple iPhone ban. The ban did not directly impact the company’s ability to supply GPUs or AI technologies to its regional customers.
Meta Platforms (META)
Source: Ascannio / Shutterstock.com
In 2022, Meta Platforms (NASDAQ:META) had a tumultuous year, with its stock price ranging from a peak of about $380 per share to a low of $88. However, it made a remarkable comeback in early 2023, now trading at around $300 per share.
Investors who held onto META through these ups and downs have seen significant returns. Even after the August setback, analysts see potential in Meta’s cost-cutting efforts, leading to improved profit margins. The China Apple iPhone ban affected Apple but not Meta Platforms due to the specific targeting of Apple’s iPhone sales and products in China and the differences in their core businesses.
Meta’s conservative approach to debt sets it apart in the tech industry, with only 21.6% of its capitalization tied to debt. Meta’s robust free cash flow exceeds its total debt, a rarity in the corporate world.
Meta Platforms recognizes the importance of significant investments in specific areas to sustain revenue growth. Q2 2023 saw an 11% year-over-year revenue increase, but attention now shifts to late 2023 and 2024 revenue drivers.
As Meta shifts focus to Threads and monetizes Instagram/WhatsApp, the metaverse project may lose prominence. However, Zacks analysts anticipate double-digit earnings per share growth, approximately 26.7%, over the next year, potentially driving stock prices higher.
Consider the potential for reallocating metaverse spending, potentially restoring Meta’s historical return on invested capital benchmarks. This could lead to more substantial share buybacks and higher analyst targets driven by enhanced monetization efforts and ROIC. Savvy investors should take notice.
On the date of publication, Julia Magas 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.
Julia Magas is a writer who covers the latest trends in finance and technology. Her work is published in a number of financial media outlets such as Nasdaq, Cointelegraph, Investing, SeekingAlpha, FXEmpire, and Beincrypto. She primarily covers cryptocurrency and blockchain technology with a focus on market performance, innovations and trends.
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The post 4 Stocks Set to Profit From the New China Apple iPhone Ban 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 Last week, Apple (NASDAQ:AAPL) encountered a notable disturbance following reports of a ban imposed on Chinese government officials using iPhones. The consequences of this situation hold significant weight, especially given the country’s pivotal role as one of Apple’s primary markets, contributing substantially to its earnings and serving as the central hub for iPhone manufacturing. This downturn sparks concerns regarding Apple’s financial standing and elicits inquiries into the broader ramifications for Western enterprises conducting business in China.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Last week, Apple (NASDAQ:AAPL) encountered a notable disturbance following reports of a ban imposed on Chinese government officials using iPhones. China Apple iPhone Ban Winners: Dell Technologies (DELL) Source: Ken Wolter / Shutterstock.com Dell Technologies (NYSE:DELL) has shown remarkable resilience and growth potential despite facing challenges in the PC and laptop market and some weaknesses in the data center server market. Microsoft (MSFT) Source: Ascannio / Shutterstock.com Microsoft (NASDAQ:MSFT) leads in AI, setting itself apart from rivals like Apple.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Last week, Apple (NASDAQ:AAPL) encountered a notable disturbance following reports of a ban imposed on Chinese government officials using iPhones. China Apple iPhone Ban Winners: Dell Technologies (DELL) Source: Ken Wolter / Shutterstock.com Dell Technologies (NYSE:DELL) has shown remarkable resilience and growth potential despite facing challenges in the PC and laptop market and some weaknesses in the data center server market. Meta Platforms (META) Source: Ascannio / Shutterstock.com In 2022, Meta Platforms (NASDAQ:META) had a tumultuous year, with its stock price ranging from a peak of about $380 per share to a low of $88.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Last week, Apple (NASDAQ:AAPL) encountered a notable disturbance following reports of a ban imposed on Chinese government officials using iPhones. Microsoft’s revenue in China primarily comes from its cloud computing platform, Azure, and software offerings like Windows and Office, which were not directly affected by the China Apple iPhone ban. Nvidia’s business in China was not significantly affected by the China Apple iPhone ban.
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13772.0
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2023-09-12 00:00:00 UTC
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Apple Launches Next-Gen IPhone 15 Models
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AAPL
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https://www.nasdaq.com/articles/apple-launches-next-gen-iphone-15-models
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nan
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nan
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(RTTNews) - Tech giant Apple Inc. (AAPL) on Tuesday launched its next-gen iPhone 15 models," which the company claims to be the most powerful smartphones the Cupertino, California-based company has ever made.
This year's new models include the iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max. Like every year, the iPhone 15 and iPhone 15 Pro features a 6.1-inch display, and iPhone Plus and iPhone 15 Pro Max come with a 6.7-inch display.
The iPhone 15 Pro and 15 Pro Max are made of aerospace-grade titanium and feature Action Buttons. The 15 Pro starts at $999 with 128GB of storage, and the Pro Max at $1,199 with 256GB of storage. Both will be available for pre-order this Friday and on sale September 22nd. iPhone 15 Pro and iPhone 15 Pro Max will be available in four finishes, including black titanium, white titanium, blue titanium, and natural titanium.
Both are powered by the A17 Pro chip, which Apple says has the fastest performance in any smartphone.
The all-new Action button replaces the single-function switch used to toggle between ring and silent, offering additional options so users can choose between quickly accessing the camera or flashlight; activating Voice Memos, Focus modes, Translate, and accessibility features like Magnifier; or using Shortcuts for more options.
Apple has also upgraded iPhone's camera, which features a more advanced 48MP Main camera system that now supports the new super-high-resolution 24MP default and an all-new 5x Telephoto camera exclusively on iPhone 15 Pro Max.
"This is the most pro lineup we have ever created, with a state-of-the-art titanium design, the best iPhone camera system yet that enables game-changing new workflows, and the A17 Pro chip, which ushers in a new chapter of performance and games never before seen on iPhone," said Greg Joswiak, Apple's senior vice president of Worldwide Marketing. "iPhone 15 Pro and iPhone 15 Pro Max represent the best of Apple design and industry-first innovations to help enrich the everyday experiences of our users, while enabling them to unleash their creativity."
New iPhones, as expected, have a USB-C port, ditching the Lightning port that it rolled out in 2012.
Meanwhile, the iPhone 15 and 15 Plus will be powered by A16 Bionic chip. iPhone 15 and iPhone 15 Plus will be available in five colours: pink, yellow, green, blue, and black. Pre-orders begin Friday, September 15, with availability beginning Friday, September 22.
"iPhone 15 and iPhone 15 Plus represent a huge leap forward with exciting camera innovations that inspire creativity, the intuitive Dynamic Island, and the A16 Bionic chip for proven powerful performance," said Kaiann Drance, Apple's vice president of Worldwide iPhone Product Marketing. "We're also pushing the power of computational photography to new levels this year with a 48MP Main camera featuring a new 24MP default for super-high-resolution photos, a new 2x Telephoto option, and next-generation portraits."
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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(RTTNews) - Tech giant Apple Inc. (AAPL) on Tuesday launched its next-gen iPhone 15 models," which the company claims to be the most powerful smartphones the Cupertino, California-based company has ever made. The all-new Action button replaces the single-function switch used to toggle between ring and silent, offering additional options so users can choose between quickly accessing the camera or flashlight; activating Voice Memos, Focus modes, Translate, and accessibility features like Magnifier; or using Shortcuts for more options. "This is the most pro lineup we have ever created, with a state-of-the-art titanium design, the best iPhone camera system yet that enables game-changing new workflows, and the A17 Pro chip, which ushers in a new chapter of performance and games never before seen on iPhone," said Greg Joswiak, Apple's senior vice president of Worldwide Marketing.
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(RTTNews) - Tech giant Apple Inc. (AAPL) on Tuesday launched its next-gen iPhone 15 models," which the company claims to be the most powerful smartphones the Cupertino, California-based company has ever made. This year's new models include the iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max. Like every year, the iPhone 15 and iPhone 15 Pro features a 6.1-inch display, and iPhone Plus and iPhone 15 Pro Max come with a 6.7-inch display.
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(RTTNews) - Tech giant Apple Inc. (AAPL) on Tuesday launched its next-gen iPhone 15 models," which the company claims to be the most powerful smartphones the Cupertino, California-based company has ever made. This year's new models include the iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max. Like every year, the iPhone 15 and iPhone 15 Pro features a 6.1-inch display, and iPhone Plus and iPhone 15 Pro Max come with a 6.7-inch display.
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(RTTNews) - Tech giant Apple Inc. (AAPL) on Tuesday launched its next-gen iPhone 15 models," which the company claims to be the most powerful smartphones the Cupertino, California-based company has ever made. This year's new models include the iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max. Both are powered by the A17 Pro chip, which Apple says has the fastest performance in any smartphone.
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13773.0
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2023-09-12 00:00:00 UTC
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Meta Platforms Stock Can Stay ‘Magnificent’
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AAPL
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https://www.nasdaq.com/articles/meta-platforms-stock-can-stay-magnificent
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
“Social media is the ultimate equalizer. It gives a voice and a platform to anyone willing to engage.” –Amy Jo Martin
This has not been a healthy market by any means. As I’ve noted numerous times, the vast majority of stocks have performed sub-par in what is otherwise supposed to be a strong year given pre-election dynamics. Small-caps, Europe, retailers and emerging markets have been whipsaw city.
The headline averages are being driven entirely by the “Magnificent Seven” of Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Nvidia (NASDAQ:NVDA), Tesla (NASDAQ:TSLA) and Meta Platforms (NASDAQ:META). These will all at some point be sources of liquidity when volatility hits.
The weight of the biggest 5 stocks in the S&P 500 is at an all-time high.
You are being fooled by idiosyncratic risk.
WAKE UP. pic.twitter.com/2IHMUSQVBc
— Michael A. Gayed, CFA (@leadlagreport) September 7, 2023
Of the Magnificent Seven, I believe Meta is the most logical one to favor for now. Whether it’s the focus on artificial intelligence (AI), the expansion into Threads, or the company’s data-driven business model, I think the opportunities are substantial for Meta with a valuation multiple that is not too expensive.
Meta is the parent company of the world’s largest social networks, including Facebook, Instagram, Messenger and WhatsApp. With billions of daily active users, Meta’s platforms have fundamentally changed the way people interact, share information and conduct business. That information that Meta has on each of us — like it or not — is its edge.
Meta Platforms’ ‘Year of Efficiency’
Meta’s primary source of revenue is advertising. The company’s vast user base and sophisticated algorithms allow advertisers to target their ads based on various parameters including age, gender, location, interests and behaviors.
More than 98% of Meta’s revenue in the second quarter of 2023 came from advertising. This figure is projected to grow as Meta continues to meaningfully improve its ad targeting capabilities. As Threads grows and inevitably has advertising as a standalone network, and as the company’s AI initiatives expand, advertising revenue likely continues to benefit.
It’s more than just revenue, of course. This year has marked Meta’s “Year of Efficiency,” a strategic initiative focused on reducing costs and increasing operational efficiency. This initiative has resulted in significant margin expansion and improved bottom-line performance. One of the key strategies was aggressive cost-cutting. The company successfully streamlined its operations, resulting in improved operating margins.
Another critical aspect of theYear of Efficiency was its investment in AI. By leveraging advanced machine-learning algorithms, Meta has been able to improve its content recommendation systems, ad targeting capabilities and overall platform efficiency. AI will likely play a crucial role in Meta’s business strategy going forward.
The Bottom Line on META Stock
The stock has been on fire, and outperformed the S&P 500 meaningfully since the start of the year. The trend is still up for now, and it could reclaim its relative standing peak it had back in 2020. Relative to Nvidia and other AI plays, the stock is cheap and can continue to grab investor attention independent of short-to-intermediate-term volatility.
Source: Source: StockCharts.com
Despite the strong performance in META stock, Meta’s valuation remains attractive compared to its peers. As of September 2023, Meta’s stock was trading at a price-to-earnings (P/E) ratio of 35.6, which is a discount compared to other large-cap tech stocks. Against the other Magnificent Seven, it’s the second cheapest after Microsoft, which I’m also favorable on longer-term.
The bottom line is that Meta will likely only become more of a dominant player in the global digital landscape. This is largely due to its strong growth prospects and attractive valuation. Its strategic focus on AI, expansion into Threads, and data-driven business model position the company well for future growth. Timing is everything, but I suspect META stock is one to unequivocally focus more time and energy on as opposed to just chase, as we’ve seen with stocks like NVDA.
The Lead-Lag Report is provided by Lead-Lag Publishing, LLC. All opinions and views mentioned in this report constitute our judgments as of the date of writing and are subject to change at any time. Information within this material is not intended to be used as a primary basis for investment decisions and should also not be construed as advice meeting the particular investment needs of any individual investor. Trading signals produced by the Lead-Lag Report are independent of other services provided by Lead-Lag Publishing, LLC or its affiliates, and positioning of accounts under their management may differ. Please remember that investing involves risk, including loss of principal, and past performance may not be indicative of future results. Lead-Lag Publishing, LLC, its members, officers, directors and employees expressly disclaim all liability in respect to actions taken based on any or all of the information on this writing.
The Lead-Lag Report is provided by Lead-Lag Publishing, LLC. All opinions and views mentioned in this report constitute our judgments as of the date of writing and are subject to change at any time. Information within this material is not intended to be used as a primary basis for investment decisions and should also not be construed as advice meeting the particular investment needs of any individual investor. Trading signals produced by the Lead-Lag Report are independent of other services provided by Lead-Lag Publishing, LLC or its affiliates, and positioning of accounts under their management may differ. Please remember that investing involves risk, including loss of principal, and past performance may not be indicative of future results. Lead-Lag Publishing, LLC, its members, officers, directors and employees expressly disclaim all liability in respect to actions taken based on any or all of the information on this writing.
Michael A. Gayed is the Publisher of The Lead-Lag Report, and Portfolio Manager at Tidal Financial Group, an investment management company specializing in ETF-focused research, investment strategies and services designed for financial advisors, RIAs, family offices and investment managers.
InvestorPlace readers that are new subscribers to the The Lead-Lag Report can receive a 30% discount.
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The post Meta Platforms Stock Can Stay ‘Magnificent’ 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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Lead-Lag Publishing, LLC, its members, officers, directors and employees expressly disclaim all liability in respect to actions taken based on any or all of the information on this writing. The headline averages are being driven entirely by the “Magnificent Seven” of Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Nvidia (NASDAQ:NVDA), Tesla (NASDAQ:TSLA) and Meta Platforms (NASDAQ:META). Whether it’s the focus on artificial intelligence (AI), the expansion into Threads, or the company’s data-driven business model, I think the opportunities are substantial for Meta with a valuation multiple that is not too expensive.
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Lead-Lag Publishing, LLC, its members, officers, directors and employees expressly disclaim all liability in respect to actions taken based on any or all of the information on this writing. The headline averages are being driven entirely by the “Magnificent Seven” of Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Nvidia (NASDAQ:NVDA), Tesla (NASDAQ:TSLA) and Meta Platforms (NASDAQ:META). Trading signals produced by the Lead-Lag Report are independent of other services provided by Lead-Lag Publishing, LLC or its affiliates, and positioning of accounts under their management may differ.
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The headline averages are being driven entirely by the “Magnificent Seven” of Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Nvidia (NASDAQ:NVDA), Tesla (NASDAQ:TSLA) and Meta Platforms (NASDAQ:META). Meta Platforms’ ‘Year of Efficiency’ Meta’s primary source of revenue is advertising. Source: Source: StockCharts.com Despite the strong performance in META stock, Meta’s valuation remains attractive compared to its peers.
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The headline averages are being driven entirely by the “Magnificent Seven” of Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Nvidia (NASDAQ:NVDA), Tesla (NASDAQ:TSLA) and Meta Platforms (NASDAQ:META). Meta Platforms’ ‘Year of Efficiency’ Meta’s primary source of revenue is advertising. As Threads grows and inevitably has advertising as a standalone network, and as the company’s AI initiatives expand, advertising revenue likely continues to benefit.
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13774.0
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2023-09-12 00:00:00 UTC
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Disney/Charter Cable Deal Is a Win-Win
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AAPL
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https://www.nasdaq.com/articles/disney-charter-cable-deal-is-a-win-win
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nan
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nan
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Sports fans can breathe a sigh of relief after Disney (NYSE: DIS) reached a deal with Charter (NASDAQ: CHTR) to keep ESPN on the cable provider. And this will be a win-win, as Travis Hoium highlights in this video.
*Stock prices used were end-of-day prices of Sept. 8, 2023. The video was published on Sept. 11, 2023.
10 stocks we like better than Walt Disney
When our analyst team has a stock 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 Walt Disney 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 11, 2023
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Apple, Verizon Communications, and Walt Disney. The Motley Fool has positions in and recommends Amazon.com, Apple, and Walt Disney. The Motley Fool recommends T-Mobile US and Verizon Communications. 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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Sports fans can breathe a sigh of relief after Disney (NYSE: DIS) reached a deal with Charter (NASDAQ: CHTR) to keep ESPN on the cable provider. 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 Walt Disney wasn't one of them!
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After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. Travis Hoium has positions in Apple, Verizon Communications, and Walt Disney. The Motley Fool has positions in and recommends Amazon.com, Apple, and Walt Disney.
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10 stocks we like better than Walt Disney When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of September 11, 2023 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. The Motley Fool has positions in and recommends Amazon.com, Apple, and Walt Disney.
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And this will be a win-win, as Travis Hoium highlights in this video. See the 10 stocks *Stock Advisor returns as of September 11, 2023 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Apple, Verizon Communications, and Walt Disney.
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13775.0
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2023-09-12 00:00:00 UTC
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Forget iPhone 15: Here's 1 Underappreciated Device Set to Drive Apple Stock Gains
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AAPL
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https://www.nasdaq.com/articles/forget-iphone-15%3A-heres-1-underappreciated-device-set-to-drive-apple-stock-gains
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nan
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nan
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The looming rise of spatial computing could pave the way for greater adoption of the metaverse that tech companies like Meta Platforms (META) are eager to break into. While the social media giant has since shifted more of its focus toward generative artificial intelligence (AI) with its Llama 2 large language model (LLM), the firm still has a strong desire to be there when computing makes its next big jump.
Undoubtedly, the rise of mobile computing has been profoundly profitable for Apple (AAPL). And there's likely still many years' worth of economic profits to be had as new iterations of the iPhone look to be released every year.
Although the iPhone remains a massive cash cow for the company, don't count on Apple to be complacent as the industry looks to rein in spending. The $2.8 trillion tech giant is already spending considerable sums on what it thinks could be the next big thing (spatial computing and perhaps generative AI). After the latest World Wide Developer's Conference (WWDC) this past June, Apple seems as confident as ever that the age of spatial computing may be upon us.
In the meantime, today's "Wonderlust" event will turn our attention back to the iPhone, the top device of the present. However, in the long term, it will probably be spatial computing (a top device of the future?) that dictates whether Apple can reinvent itself again and set the stage for more market-crushing gains over the coming years and decades.
Personally, I wouldn't bet against the firm, even as other analysts discount the potential of the company's move into the world of spatial computing.
Apple Stock: iPhone Event in Focus, but Don't Lose Sight of the Vision Pro!
At the end of the day, Apple seems to be the expert at disrupting its own business segments through new innovations. The company certainly seems to be the master of its own fate (although Meta is sure to keep Apple CEO Tim Cook on his toes!).
Whether the Apple Vision Pro has iPhone potential down the road, though, remains the big question investors should ponder. With the stock currently going for approximately 30 times trailing price-to-earnings (P/E), I'd argue the market has doubts about whether the company's move into spatial computing will be nearly as lucrative as its move into mobile computing more than 16 years ago.
As computing hardware becomes capable enough to power impressive immersive augmented and virtual reality experiences, it's going to be products like the Apple Vision Pro that could gradually cut into the turf of the iPhone. Still, the transition to another device category should be expected to take many years, perhaps even decades.
Further, it seems like spatial computers would be more disruptive to the Mac and iPad businesses than the iPhone. In any case, spatial computing and the metaverse are worthy trends in the tech scene that shouldn't be ignored, even as generative AI technologies hog the attention and investment dollars of investors.
A Strong AI Presence Would Make a Shift to Spatial Computing Smoother
At this juncture, it seems like Apple stock is being punished for its lack of skin in the AI game. These days, many innovators in the tech scene don't just want their AI plans known; they want them to be as loud and clear as possible. And on the surface, it seems like Apple may not be giving the field of generative AI as much love as it deserves, at least on a relative basis.
Apple may not have as much to say about generative AI tech as Alphabet (GOOG), Microsoft (MSFT), Snowflake (SNOW), or Salesforce (CRM). That makes it challenging to tell where in the pack Apple stands in the ongoing AI revolution. Given a relative lack of AI announcements, some analysts may be inclined to place the tech titan behind the pack. In reality, I think Apple may be neck and neck with its large-cap tech counterparts.
www.barchart.com
According to The Information, Apple is investing "millions of dollars a day" in training its AI. The iPhone maker also reportedly has its own advanced LLM named Ajax that could be every bit as capable as, if not better than, ChatGPT.
While I do not doubt the possibility that Apple has an AI chatbot that's more sophisticated than ChatGPT (let's not forget the firm has been hard at work improving its Apple Neural Engine over the years), it's really hard to tell exactly what the company is up to in the field of AI, given how secretive it tends to be with its various R&D projects.
In any case, capable generative AI seems like a must if the world is to make the move from traditional computing to spatial computing. At the very least, an advanced LLM could smoothen, if not accelerate, such a transition.
Conclusion
Just because a shift to new tech will take time doesn't mean investors should neglect the potential of Apple's Vision Pro in favor of the coming iPhone 15 launch. Given Apple's knack for playing the long game, I think truly long-term investors ought to give more love to the Vision Pro.
On the date of publication, Joey Frenette had a position in: AAPL , GOOG , SNOW , CRM . 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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Undoubtedly, the rise of mobile computing has been profoundly profitable for Apple (AAPL). On the date of publication, Joey Frenette had a position in: AAPL , GOOG , SNOW , CRM . While the social media giant has since shifted more of its focus toward generative artificial intelligence (AI) with its Llama 2 large language model (LLM), the firm still has a strong desire to be there when computing makes its next big jump.
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Undoubtedly, the rise of mobile computing has been profoundly profitable for Apple (AAPL). On the date of publication, Joey Frenette had a position in: AAPL , GOOG , SNOW , CRM . Apple Stock: iPhone Event in Focus, but Don't Lose Sight of the Vision Pro!
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Undoubtedly, the rise of mobile computing has been profoundly profitable for Apple (AAPL). On the date of publication, Joey Frenette had a position in: AAPL , GOOG , SNOW , CRM . A Strong AI Presence Would Make a Shift to Spatial Computing Smoother At this juncture, it seems like Apple stock is being punished for its lack of skin in the AI game.
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Undoubtedly, the rise of mobile computing has been profoundly profitable for Apple (AAPL). On the date of publication, Joey Frenette had a position in: AAPL , GOOG , SNOW , CRM . Whether the Apple Vision Pro has iPhone potential down the road, though, remains the big question investors should ponder.
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13776.0
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2023-09-12 00:00:00 UTC
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7 Stocks to Buy for a Back-to-School Boom
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AAPL
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https://www.nasdaq.com/articles/7-stocks-to-buy-for-a-back-to-school-boom
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
American parents spend a lot of money on back-to-school shopping. The National Retail Federation forecasts that parents in the U.S. will spend a record $41.5 billion on back-to-school shopping in 2023. Individually, parents will shell out an average of $895 each getting their kids ready to return to the classroom, with clothes and electronics comprising the biggest expenses. For parents who have children heading back to college this autumn, the spending is expected to be even more at $94 billion, which would also be an all-time high.
Clearly back-to-school is big business and a major catalyst for many companies, especially retailers. From computers and smartphones to school books and sneakers, parents nationwide are under pressure to buy it all and send their kids back to school as prepared as possible, whether for first grade or a college. With so much money being spent, we offer seven stocks to buy for a back-to-school boom.
Apple (AAPL)
Source: mama_mia / Shutterstock.com
There’s a reason consumer electronics giant Apple (NASDAQ:AAPL) launches its new products in September. The company aims to capitalize on demand for its iPhones, iPads and Mac computers as people return to school and work after the summer. Of course, Apple also wants to get its devices into the year-end holiday sales cycle. But the whole thing kicks off each year with the launch of new products just after Labor Day, as students head back to the classroom.
On Sept. 12, Apple is widely expected to unveil the new iPhone 15. The newest iPhone is expected to use a different USB-C charging port, and there are rumors that it could be made of titanium metal. The company might also announce new Apple Watch models at this year’s launch event, along with the newest version of its operating system for iPhones. Of course, recent news that China is banning government workers from using Apple’s iPhones has cast a cloud over the upcoming launch event. But long-term, Apple should be just fine.
AAPL stock has risen 43% so far this year and is up nearly 220% over five years.
Dick’s Sporting Goods (DKS)
Source: George Sheldon via Shutterstock
The third quarter is typically the strongest of the year for Dick’s Sporting Goods (NYSE:DKS). The retailer’s sales tend to spike in August and September as parents stock up on sneakers, backpacks, football equipment, soccer cleats, and just about any other sports equipment their children might need for the new school year. Back-to-school shopping is to Dick’s Sporting Goods what tax season is to accountants — an extremely busy and lucrative stretch of the calendar year.
The flurry of back-to-school purchases should help to ensure that Dick’s Q3 financial results are better than the company’s most recent Q2 print. Unfortunately, Dick’s laid an egg with its Q2 numbers, announcing a 23% drop in profits due mainly to decreased sales of its outdoor category that includes camping gear and equipment. The poor showing has led to a steep selloff in DKS stock, making now an opportune time for investors to take a position in this leading retailer.
Year-to-date, DKS stock is down 8% following the post-earnings drop. But over five years, the share price is up 202%.
Best Buy (BBY)
Source: BobNoah / Shutterstock.com
Best Buy (NYSE:BBY) is another company whose store locations tend to see increased foot traffic during the back-to-school rush as parents and kids turn to the consumer electronics retailer to buy items ranging from the aforementioned iPhones and iPads to laptops computers, monitors, printers, headphones, and the like. Best Buy’s two busiest times of the year tend to be the year-end holidays that include the Black Friday and Cyber Monday sales events, and back-to-school shopping at the end of summer.
To be sure, BBY stock hasn’t been the best performer in recent years. The company’s share price has declined 9% in 2023 and is down 7% over five years. However. Best Buy does offer its shareholders a lucrative quarterly dividend payment of 92 cents a share, which gives it a hefty yield of 5.03%. Currently trading at 12 times future earnings, Best Buy’s stock also looks cheaply valued at current levels. With demand for personal computers and other electronics expected to rebound in the near-term, now might be a good time to consider BBY stock.
Walmart (WMT)
Source: fotomak / Shutterstock.com
Discount retailer Walmart (NYSE:WMT) is a parent’s dream when it comes to back-to-school shopping. After all, Walmart carries just about everything parents need for back-to-school in one convenient location. From sneakers and backpacks to scribblers, pens and pencils, electronics, and lunch snacks, Walmart has it all. And at affordable prices too. The diversity of the products Walmart sells, and the essential nature of many of the items, helps to explain why Walmart’s sales and stock price continue to trend higher.
The retailer recently announced Q2 financial results that slayed Wall Street expectations across the board. As a result, the company also raised its full-year guidance, signaling out its online, or e-commerce sales, as a particular bright spot for the company. The strong print had investors cheering and led to WMT stock rising to a 52-week high, where it is currently trading. Over the past 12 months, Walmart’s share price has gained 19%, bringing its five year increase to 73%.
Amazon (AMZN)
Source: Tada Images / Shutterstock.com
For parents who are pressed for time and can’t make it to a physical store location, there is e-commerce giant Amazon (NASDAQ:AMZN). The company sells most any item one would want or need to return to the classroom, from notebooks to electronic tablets. Amazon also offers the convenience of shipping right to the front door and most items can be delivered in 48 hours or less. AMZN stock is currently on a rebound, having gained 61% this year following a slump coming out of the Covid-19 pandemic.
The company’s Q2 print this summer was its strongest earnings release since the fourth quarter of 2020 and resulted after aggressive cost-cutting that saw the layoff of thousands of employees. Amazon also revised up its forward guidance for the current third quarter, noting strong sales of its July Prime Day sales event, which the company has said was the biggest and most successful in company history. AMZN stock is up 40% over the last five years.
Scholastic Corp. (SCHL)
Source: JHVEPhoto / Shutterstock.com
For a truly beaten down name that is almost synonymous with education, there is Scholastic Corp. (NASDAQ:SCHL), a leading publisher of text books and educational materials for both students and teachers. Clifford the Big Red Dog, whose books are still the ones many people first learn to read with, is the company’s official mascot. In business since 1920, Scholastic today is the world’s largest publisher and distributor of children’s books and digital educational materials for students in kindergarten through grade 12.
The company also holds the U.S. publishing rights to both the Harry Potter and Hunger Games book series, which are lucrative properties and perennial bestsellers. Despite its dominant role in the education system, SCHL stock has been under pressure in recent years. So far in 2023, the company’s share price has risen only 1%. Through five years, the stock is down 5%. The decline is due to an increasingly fragmented marketplace and move towards more online or digital sources of education materials.
Despite its lackluster performance, SCHL stock offers a quarterly dividend payment of 20 cents a share, which equates to a yield of 2%. The share price recently got a big jump with its latest financial results.
Skechers USA (SKX)
Source: ThamKC / Shutterstock.com
Finally, we have Skechers USA (NYSE:SKX), the popular sneaker maker that was founded in 1992 and is now the third largest footwear brand in the U.S. Skechers sells sneakers that are targeted at and popular with young children, including shoes that are fastened with Velcro and whose bottoms light up in flashing colors. This makes Skechers an ideal choice for any back-to-school boom. Skechers also have a reputation for being rugged and durable, which no doubt makes them popular with parents.
Strong sales and growing market share have propelled SKX stock higher. Since January of this year, the share price has increased 17%, bringing its five year gain to 80%. Despite the run, Skechers stock still looks fairly valued trading at 16 times future earnings. There’s no dividend paid by the company. However, the strong share price appreciation should more than make-up for the lack of a distribution. Analysts continue to praise the company’s growth prospects for both the near and long-term.
On the date of publication, Joel Baglole held a long position in 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 7 Stocks to Buy for a Back-to-School Boom 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: mama_mia / Shutterstock.com There’s a reason consumer electronics giant Apple (NASDAQ:AAPL) launches its new products in September. AAPL stock has risen 43% so far this year and is up nearly 220% over five years. On the date of publication, Joel Baglole held a long position in AAPL.
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Apple (AAPL) Source: mama_mia / Shutterstock.com There’s a reason consumer electronics giant Apple (NASDAQ:AAPL) launches its new products in September. AAPL stock has risen 43% so far this year and is up nearly 220% over five years. On the date of publication, Joel Baglole held a long position in AAPL.
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AAPL stock has risen 43% so far this year and is up nearly 220% over five years. Apple (AAPL) Source: mama_mia / Shutterstock.com There’s a reason consumer electronics giant Apple (NASDAQ:AAPL) launches its new products in September. On the date of publication, Joel Baglole held a long position in AAPL.
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Apple (AAPL) Source: mama_mia / Shutterstock.com There’s a reason consumer electronics giant Apple (NASDAQ:AAPL) launches its new products in September. AAPL stock has risen 43% so far this year and is up nearly 220% over five years. On the date of publication, Joel Baglole held a long position in AAPL.
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13777.0
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2023-09-12 00:00:00 UTC
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Will Apple’s New Product Line Entice Stock Buyers?
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AAPL
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https://www.nasdaq.com/articles/will-apples-new-product-line-entice-stock-buyers
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nan
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nan
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Later today, Apple (AAPL) is scheduled to unveil its new iPhone 15 product line, along with next-generation watches and AirPods. According to Bloomberg News, the iPhone lineup will include two entry-level and two high-end models. Apple’s new iPhone debuts have historically been a sell-the-news event for the stock, but the weeks following the launch have been a better opportunity to buy the stock dip.
Shares of Apple typically move higher in the months ahead of a new product launch. This year, however, has been different. Apple shares retreated in August after it reported its third straight quarter of declining sales and predicted a similar performance this quarter, hurt by an industrywide slump that has dented demand for phones, computers, and tablets. Then, this month, Apple stock took a hit amid concerns about government restrictions on iPhones in China, the company’s biggest international market. Apple has lost nearly $300 billion in market value since closing at a record on July 31.
More generally, September over the past five years has been the worst month of the year for Apple, with the stock averaging a loss of -4.5%, compared with a drop of -3.2% for the S&P 500 Stock Index ($SPX) (SPY). However, October has been the best month for Apple stock, with an average gain of +3.8% over the same period. Deepwater Asset Management said, “If you’re a long-time holder of Apple and you see this as becoming a consumer staple company, these pullbacks are opportunities.”
Despite recent headwinds for Apple, the stock is still up +38% this year. Apple is priced at 27 times projected profits, down from a high of 30 times in July but well above an average of 18 times over the past ten years. According to Bloomberg data, analysts expect the company’s annual revenue will bounce back in 2024 after falling about -2.9% this year. CFRA Research said the action by Apple to raise the prices of its higher-end iPhone models will be a positive catalyst for the stock.
Apple’s iPhone sales began to plateau in 2016 to around 200-220 million devices annually. However, the company the company boosted the prices of its higher-end models to make up for the slowdown in sales. Annual iPhone unit sales have remained stagnant over the last seven years, but revenue has grown about $70 billion over that timeframe. Mahoney Asset Management remains optimistic about Apple’s new product lineup and said the recent performance has “hopefully set the stage for an October and year-end rally.”
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On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Later today, Apple (AAPL) is scheduled to unveil its new iPhone 15 product line, along with next-generation watches and AirPods. Then, this month, Apple stock took a hit amid concerns about government restrictions on iPhones in China, the company’s biggest international market. CFRA Research said the action by Apple to raise the prices of its higher-end iPhone models will be a positive catalyst for the stock.
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Later today, Apple (AAPL) is scheduled to unveil its new iPhone 15 product line, along with next-generation watches and AirPods. According to Bloomberg News, the iPhone lineup will include two entry-level and two high-end models. Then, this month, Apple stock took a hit amid concerns about government restrictions on iPhones in China, the company’s biggest international market.
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Later today, Apple (AAPL) is scheduled to unveil its new iPhone 15 product line, along with next-generation watches and AirPods. More generally, September over the past five years has been the worst month of the year for Apple, with the stock averaging a loss of -4.5%, compared with a drop of -3.2% for the S&P 500 Stock Index ($SPX) (SPY). Deepwater Asset Management said, “If you’re a long-time holder of Apple and you see this as becoming a consumer staple company, these pullbacks are opportunities.” Despite recent headwinds for Apple, the stock is still up +38% this year.
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Later today, Apple (AAPL) is scheduled to unveil its new iPhone 15 product line, along with next-generation watches and AirPods. This year, however, has been different. Annual iPhone unit sales have remained stagnant over the last seven years, but revenue has grown about $70 billion over that timeframe.
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13778.0
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2023-09-12 00:00:00 UTC
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Qualcomm (QCOM) to Supply 5G Modem Chips for Upcoming iPhones
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AAPL
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https://www.nasdaq.com/articles/qualcomm-qcom-to-supply-5g-modem-chips-for-upcoming-iphones
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nan
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nan
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QUALCOMM Incorporated QCOM recently entered into a multi-year agreement with Apple Inc. AAPL for an undisclosed amount to supply Snapdragon 5G Modem-RF systems for upcoming iPhone models. The specific valuation of the agreement, which is set to remain in effect until 2026, remains confidential. It highlights Qualcomm’s robust portfolio and its leadership position across 5G technologies and products.
Apple had earlier given a strong indication of moving toward developing in-house technology and its acquisition of Intel’s modem business for $1 billion was a step forward in that direction. However, the volte-face portends that the chipmaker is perhaps not ready with its in-house production, forcing it to turn to its trusted supplier for the upcoming iPhone models.
Moreover, Beijing is reportedly mulling to impose a ban on the use of iPhones in government offices and state-backed entities as part of its concerted effort toward self-reliance. Consequently, Apple is perhaps leaning toward its tried and tested model to tide over these challenging times, as China is one of its primary markets. The deal with Qualcomm has ensured a steady supply chain for 5G chips for the next three years.
In addition to incremental revenues, the deal augments QCOM's leadership position across 5G technologies and products. The deal also gains significance as the chipmaker was expected to record softer revenues from China owing to strict restrictions of iPhone usage. However, the recent deal with Apple has largely negated this concern and has reposed investors' faith in the stock.
Qualcomm's long-term financial planning assumes a 20% share of the chipset supply for smartphone launches in 2026. In the face of rising competition from other well-established players and the prevailing business uncertainties, the deal will likely provide a substantial competitive advantage for Qualcomm and enhance its prospects.
Qualcomm is one of the largest manufacturers of wireless chipsets based on baseband technology. The company is focusing on retaining its leadership in 5G, chipset market and mobile connectivity with several technological achievements and innovative product launches. It is likely to help users experience a seamless transition to super-fast 5G networks, delivering low-power resilient multi-gigabit connectivity with unprecedented range and Qualcomm's best-in-class security. This, in turn, would further offer the flexibility and scalability needed for broad and fast 5G adoption through accelerated commercialization by OEMs.
Qualcomm is reportedly the only chipset vendor with 5G system-level solutions spanning both sub-6 and millimeter wave bands and one of the largest RF (radio frequency) front-end suppliers with design wins across all premium-tier smartphone customers. With the rollout of 5G technology, it is benefiting from investments toward building a licensing program in mobile. The company is well-positioned to meet its long-term revenue targets, driven by solid 5G traction, greater visibility and a diversified revenue stream.
Shares of the company have lost 11.7% in the past year compared with the industry’s decline of 13.1%.
Image Source: Zacks Investment Research
Qualcomm currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Motorola Solutions, Inc. MSI, carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 5.62%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 5.58%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure service providers. It develops and services both analog and digital two-way radio, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets.
Splunk Inc. SPLK, currently sporting a Zacks Rank #1, delivered an earnings surprise of 154.90%, on average, in the trailing four quarters. In the last reported quarter, it delivered an earnings surprise of 69.05%.
Splunk provides software solutions that enable enterprises to gain real-time operational intelligence by harnessing the value of their data. The company's offerings enable users to investigate, monitor, analyze and act on machine data and big data, irrespective of format or source, and help in operational decision-making.
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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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QUALCOMM Incorporated QCOM recently entered into a multi-year agreement with Apple Inc. AAPL for an undisclosed amount to supply Snapdragon 5G Modem-RF systems for upcoming iPhone models. Click to get this free report QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Motorola Solutions, Inc. (MSI) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple had earlier given a strong indication of moving toward developing in-house technology and its acquisition of Intel’s modem business for $1 billion was a step forward in that direction.
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Click to get this free report QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Motorola Solutions, Inc. (MSI) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. QUALCOMM Incorporated QCOM recently entered into a multi-year agreement with Apple Inc. AAPL for an undisclosed amount to supply Snapdragon 5G Modem-RF systems for upcoming iPhone models. Stocks to Consider Motorola Solutions, Inc. MSI, carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 5.62%, on average, in the trailing four quarters.
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Click to get this free report QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Motorola Solutions, Inc. (MSI) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. QUALCOMM Incorporated QCOM recently entered into a multi-year agreement with Apple Inc. AAPL for an undisclosed amount to supply Snapdragon 5G Modem-RF systems for upcoming iPhone models. Stocks to Consider Motorola Solutions, Inc. MSI, carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 5.62%, on average, in the trailing four quarters.
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QUALCOMM Incorporated QCOM recently entered into a multi-year agreement with Apple Inc. AAPL for an undisclosed amount to supply Snapdragon 5G Modem-RF systems for upcoming iPhone models. Click to get this free report QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Motorola Solutions, Inc. (MSI) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report To read this article on Zacks.com click here. Qualcomm's long-term financial planning assumes a 20% share of the chipset supply for smartphone launches in 2026.
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13779.0
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2023-09-12 00:00:00 UTC
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US STOCKS-S&P 500, Nasdaq dip as oil prices fan inflation fears
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AAPL
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https://www.nasdaq.com/articles/us-stocks-sp-500-nasdaq-dip-as-oil-prices-fan-inflation-fears
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nan
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nan
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By Ankika Biswas and Shristi Achar A
Sept 12 (Reuters) - The S&P 500 and Nasdaq fell on Tuesday as a jump in oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped on downbeat forecast and results.
Oil prices jumped more than 1% on Tuesday, building on a recent rally and stoking worries over sticky inflation in the aftermath of strong economic data, clouding the chances of an end to U.S. monetary policy tightening.
"People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November," said Thomas Hayes, chairman at Great Hill Capital LLC.
Investors now keenly await August consumer prices data due on Wednesday and producer prices reading scheduled for Thursday to gauge the outlook for U.S. interest rates ahead of the Federal Reserve's monetary policy outcome on Sept. 20.
"If inflation keeps on increasing like this, which is what's anticipated, the Fed might hold interest rates higher for longer," said Michael Matousek, head trader at U.S. Global Investors Inc.
Traders still see a 93% chance of rates remaining at the current levels in September and a near 56% likelihood of a pause in November, as per the CME FedWatch Tool.
Investors will also monitor the European Central Bank's policy decision on Thursday, where it is seen holding rates after nine consecutive hikes.
Weighing down the S&P 500, cloud-services provider Oracle ORCL.N dropped 11.3% to its lowest intra-day level in three months, after forecasting current-quarter revenue below targets and narrowly missing first-quarter expectations.
While higher oil prices fanned inflation fears, they lifted energy stocks .SPNY by 2% to lead gains among major S&P 500 sector indexes. O/R
Megacaps Amazon.com AMZN.O, Microsoft MSFT.O and Meta platforms dropped between 1.3% and 1.6%, respectively, also pressured by a rise in U.S. Treasury yields.
Apple AAPL.O lost 1.4% on a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%.
Investors also awaited new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition.
At 11:37 a.m. ET, the Dow Jones Industrial Average .DJI was up 21.31 points, or 0.06%, at 34,685.03, the S&P 500 .SPX was down 15.17 points, or 0.34%, at 4,472.29, and the Nasdaq Composite .IXIC was down 89.58 points, or 0.64%, at 13,828.31.
WestRock WRK.N jumped 4.3% on agreeing to merge with Europe's Smurfit Kappa SKG.I to create the world's largest listed paper and packaging company worth nearly $20 billion.
Advance Auto Parts AAP.N lost 6.4% after S&P Global downgraded the auto parts retailer's credit and debt ratings from investment grade (BBB-) to junk (BB+).
Zions Bancorp ZION.Ojumped 6.5% after the U.S. regional lender posted a slight increase in its monthly net interest income growth.
Advancing issues outnumbered decliners by a 1.05-to-1 ratio on the NYSE and by a 1.06-to-1 ratio on the Nasdaq.
The S&P index recorded 10 new 52-week highs and 13 new lows, while the Nasdaq recorded 32 new highs and 135 new lows.
(Reporting by Ankika Biswas and Shristi Achar A in Bengaluru; Editing by Arun Koyyur and Vinay Dwivedi)
((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 lost 1.4% on a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%. Oil prices jumped more than 1% on Tuesday, building on a recent rally and stoking worries over sticky inflation in the aftermath of strong economic data, clouding the chances of an end to U.S. monetary policy tightening. "People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November," said Thomas Hayes, chairman at Great Hill Capital LLC.
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Apple AAPL.O lost 1.4% on a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - The S&P 500 and Nasdaq fell on Tuesday as a jump in oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped on downbeat forecast and results. "If inflation keeps on increasing like this, which is what's anticipated, the Fed might hold interest rates higher for longer," said Michael Matousek, head trader at U.S.
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Apple AAPL.O lost 1.4% on a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - The S&P 500 and Nasdaq fell on Tuesday as a jump in oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped on downbeat forecast and results. Oil prices jumped more than 1% on Tuesday, building on a recent rally and stoking worries over sticky inflation in the aftermath of strong economic data, clouding the chances of an end to U.S. monetary policy tightening.
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Apple AAPL.O lost 1.4% on a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - The S&P 500 and Nasdaq fell on Tuesday as a jump in oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped on downbeat forecast and results. "People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November," said Thomas Hayes, chairman at Great Hill Capital LLC.
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13780.0
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2023-09-12 00:00:00 UTC
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Apple Launches Apple Watch Series 9 With New Double Tap Gesture
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AAPL
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https://www.nasdaq.com/articles/apple-launches-apple-watch-series-9-with-new-double-tap-gesture
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nan
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nan
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(RTTNews) - Apple Inc. (AAPL) on Tuesday launched its Apple Watch Series 9, featuring faster performance, on-device Siri processing and a new Double Tap gesture.
The most notable new feature is the double tap gesture. Users can easily control the Apple Watch Series 9 using just one hand and without touching the display. Users can tap the index finger and thumb of their watch hand together twice to quickly and conveniently perform many of the most common actions on Apple Watch Series 9, like answering a call, play and pausing music or snoozing an alarm.
Meanwhile, for the first time on the Apple Watch, Siri requests can be processed on the device. For requests that do not require information from the internet, such as starting a workout or setting a timer, Siri does not rely on Wi-Fi or cellular networks, resulting in quicker and more reliable responses.
Apple has also included new integrations between the Apple Watch and HomePod that make it possible to see media playing on your device at the top of the watch's Smart Stack widgets.
Customers in Australia, Canada, France, Germany, India, Japan, the UAE, the U.K., the U.S., and more than 40 other countries and regions can order Apple Watch Series 9 and Apple Watch SE today, with availability in stores beginning Friday, September 22.
Apple Watch Series 9 starts at $399, and Apple Watch SE starts at $249. Apple Watch Series 9 is available in 41mm and 45mm sizes in starlight, midnight, silver, Red, and a new pink aluminum case, as well as stainless steel in gold, silver, and graphite cases.
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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(RTTNews) - Apple Inc. (AAPL) on Tuesday launched its Apple Watch Series 9, featuring faster performance, on-device Siri processing and a new Double Tap gesture. Users can easily control the Apple Watch Series 9 using just one hand and without touching the display. For requests that do not require information from the internet, such as starting a workout or setting a timer, Siri does not rely on Wi-Fi or cellular networks, resulting in quicker and more reliable responses.
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(RTTNews) - Apple Inc. (AAPL) on Tuesday launched its Apple Watch Series 9, featuring faster performance, on-device Siri processing and a new Double Tap gesture. Customers in Australia, Canada, France, Germany, India, Japan, the UAE, the U.K., the U.S., and more than 40 other countries and regions can order Apple Watch Series 9 and Apple Watch SE today, with availability in stores beginning Friday, September 22. Apple Watch Series 9 starts at $399, and Apple Watch SE starts at $249.
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(RTTNews) - Apple Inc. (AAPL) on Tuesday launched its Apple Watch Series 9, featuring faster performance, on-device Siri processing and a new Double Tap gesture. Customers in Australia, Canada, France, Germany, India, Japan, the UAE, the U.K., the U.S., and more than 40 other countries and regions can order Apple Watch Series 9 and Apple Watch SE today, with availability in stores beginning Friday, September 22. Apple Watch Series 9 starts at $399, and Apple Watch SE starts at $249.
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(RTTNews) - Apple Inc. (AAPL) on Tuesday launched its Apple Watch Series 9, featuring faster performance, on-device Siri processing and a new Double Tap gesture. Meanwhile, for the first time on the Apple Watch, Siri requests can be processed on the device. Apple Watch Series 9 starts at $399, and Apple Watch SE starts at $249.
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13781.0
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2023-09-12 00:00:00 UTC
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Apple's plan for climate-friendly watches: Clean energy in factories
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AAPL
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https://www.nasdaq.com/articles/apples-plan-for-climate-friendly-watches%3A-clean-energy-in-factories
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nan
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nan
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By Stephen Nellis
CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes.
Apple aims to be carbon neutral by 2030, including its supply chain. The biggest single reduction in the emissions from the new watches came from using clean electricity to manufacture them. Apple on Tuesday said that 300 of its suppliers have now committed to using clean energy for Apple production.
But another emissions source was Apple's speedy transportation network, which relies heavily on planes. More watches will now move by boat to reduce emissions.
Apple was a pioneer in using planes to haul consumer electronics from factories in China to destinations around the world, helping reduce the inventory it needs to hold and boosting its profits.
For the three new watches, half of shipments by weight, from factory to destinations such as regional distribution hubs, will happen over boats, trains or other non-air methods that burn less fuel and create fewer carbon emissions that warm the planet, Apple executives said in an interview at Apple's Cupertino, California, headquarters.
The three green-tagged versions of the Apple Watch Series 9, Apple Watch SE and Apple Watch Ultra 2 will have lower emissions than Apple's baseline estimations based on previous products, and Apple will buy carbon offsets for remaining emissions, said Lisa Jackson, the head of the company's environmental and governance efforts.
"We could in theory do that (buy offsets) tomorrow, and everything would be carbon neutral, but we wanted to be really clear that we're taking action on everything we know how to do to reduce (emissions) with existing technology," Jackson said.
The company has said previously that a Series 8 watch created 33 kg (73 lb) of carbon emissions, from raw materials to delivery to end customers.
The new climate-friendlier aluminum Series 9 with a sport loop band will have 8.1 kg (18 lb) of emissions remaining after Apple's changes, and the company will cover that remainder by buying carbon credits. That compares with 29 kg (64 lb) of emissions for the standard stainless steel version of the Series 9 with the same band.
Apple has been focused on cutting carbon emissions for some time. All new watches, including standard editions, also use custom alloys of aluminum and titanium that are made from recycled materials and batteries that contain only recycled cobalt, a mineral whose mining poses both climate and human rights concerns.
"We're absolutely planning to roll that out across" more of Apple's products in the future, John Ternus, the firm's hardware engineering chief, told Reuters. "As we push forward and we engage with suppliers on these recycled material supply chains, we find that we're usually the first ones talking to them about it."
The green-tagged watches will cost the same as the standard versions. Executives did not comment directly on whether they would be less profitable than the standard ones, but Jackson said Apple is focused making changes that it and other businesses can carry into the future.
"In order to make this replicable, it couldn't be a premium, because most businesses are willing to make the change, but they need to still be able to be in business, make money and pay their workers and buy materials," Jackson said.
(Reporting by Stephen Nellis in Cupertino, California; Editing by Peter Henderson and Lisa Shumaker)
((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 CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes. Apple was a pioneer in using planes to haul consumer electronics from factories in China to destinations around the world, helping reduce the inventory it needs to hold and boosting its profits. "We could in theory do that (buy offsets) tomorrow, and everything would be carbon neutral, but we wanted to be really clear that we're taking action on everything we know how to do to reduce (emissions) with existing technology," Jackson said.
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By Stephen Nellis CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes. The three green-tagged versions of the Apple Watch Series 9, Apple Watch SE and Apple Watch Ultra 2 will have lower emissions than Apple's baseline estimations based on previous products, and Apple will buy carbon offsets for remaining emissions, said Lisa Jackson, the head of the company's environmental and governance efforts. The company has said previously that a Series 8 watch created 33 kg (73 lb) of carbon emissions, from raw materials to delivery to end customers.
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By Stephen Nellis CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes. For the three new watches, half of shipments by weight, from factory to destinations such as regional distribution hubs, will happen over boats, trains or other non-air methods that burn less fuel and create fewer carbon emissions that warm the planet, Apple executives said in an interview at Apple's Cupertino, California, headquarters. The three green-tagged versions of the Apple Watch Series 9, Apple Watch SE and Apple Watch Ultra 2 will have lower emissions than Apple's baseline estimations based on previous products, and Apple will buy carbon offsets for remaining emissions, said Lisa Jackson, the head of the company's environmental and governance efforts.
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By Stephen Nellis CUPERTINO, California, Sept 12 (Reuters) - Apple AAPL.O on Tuesday said that three of its Apple Watch models will come in what it calls carbon-neutral versions sporting a new green logo on their boxes. Apple on Tuesday said that 300 of its suppliers have now committed to using clean energy for Apple production. The three green-tagged versions of the Apple Watch Series 9, Apple Watch SE and Apple Watch Ultra 2 will have lower emissions than Apple's baseline estimations based on previous products, and Apple will buy carbon offsets for remaining emissions, said Lisa Jackson, the head of the company's environmental and governance efforts.
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13782.0
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2023-09-12 00:00:00 UTC
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Apple shows off new Series 9 watch ahead of iPhone 15 debut
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AAPL
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https://www.nasdaq.com/articles/apple-shows-off-new-series-9-watch-ahead-of-iphone-15-debut
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nan
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nan
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By far the biggest change for most Apple customers will be a switch from Apple's propriety "Lightning" charging cables to USB-C, a standard that Apple already uses on its laptops and some high-end iPads.
Apple was forced into the change by European regulations, but analysts believe that the company will position the change as an upgrade, taking advantage of faster data speeds that can transfer high-quality videos made with iPhones.
Analysts are also expecting a new "periscope" camera technology that could give phones better zoom capabilities and titanium cases, as well as upgraded chips. Such "periscope" lenses can use mirrors or prisms to get a longer lens without having to make the camera module much larger.
The biggest question of the day will be whether Apple reserves those features for a new top-end device and makes smaller upgrades to its cheaper models.
"Just like we saw people who aren't Ultra athletes buy the Apple Watch Ultra, we're going to see a bunch of people buy this even if they aren't camera or photography enthusiasts, just because they like the latest and greatest," said Ben Bajarin, chief executive and principal analyst of Creative Strategies. "That by itself creates that buzz and momentum and allure to the top end."
Apple is expected to increase the average price per phone sold to boost its revenue, but the question is whether it does that by raising prices across the board or just on premium versions. The global smartphone market has slumped from shipping 294.5 million total phones to 268 million in the second quarter, but Apple's shipments declined the least of any major smartphone maker, dropping from 46.5 million phones to 45.3 million, according to data from Counterpoint Research.
"The truth of the matter is, we're in a very down smartphone market," said Bob O'Donnell, head of TECHnalysis Research.
O'Donnell said he will also be on the lookout for any hints about Apple's plans with what is known as generative artificial intelligence, the technology trend behind applications like OpenAI's ChatGPT and Microsoft's "Copilot" assistant technologies for its Office software.
Analysts have repeatedly prodded Apple about its plans for such technology but the company has given few hints so far, other than Chief Executive Tim Cook's comments in July that the company's secret work on the technology is driving up its research spending.
"Will Apple tease an advanced form of Siri? That would be something that would generate some excitement," O'Donnell said.
(Reporting by Stephen Nellis in Cupertino, California; Additional reporting by Aditya Soni, Pushkala Aripaka, Raechel Thankam Job and Yuvraj Malik in Bengaluru; Editing by Peter Henderson and Lisa Shumaker)
((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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Analysts are also expecting a new "periscope" camera technology that could give phones better zoom capabilities and titanium cases, as well as upgraded chips. The biggest question of the day will be whether Apple reserves those features for a new top-end device and makes smaller upgrades to its cheaper models. (Reporting by Stephen Nellis in Cupertino, California; Additional reporting by Aditya Soni, Pushkala Aripaka, Raechel Thankam Job and Yuvraj Malik in Bengaluru; Editing by Peter Henderson and Lisa Shumaker) ((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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Analysts are also expecting a new "periscope" camera technology that could give phones better zoom capabilities and titanium cases, as well as upgraded chips. "Just like we saw people who aren't Ultra athletes buy the Apple Watch Ultra, we're going to see a bunch of people buy this even if they aren't camera or photography enthusiasts, just because they like the latest and greatest," said Ben Bajarin, chief executive and principal analyst of Creative Strategies. The global smartphone market has slumped from shipping 294.5 million total phones to 268 million in the second quarter, but Apple's shipments declined the least of any major smartphone maker, dropping from 46.5 million phones to 45.3 million, according to data from Counterpoint Research.
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By far the biggest change for most Apple customers will be a switch from Apple's propriety "Lightning" charging cables to USB-C, a standard that Apple already uses on its laptops and some high-end iPads. The global smartphone market has slumped from shipping 294.5 million total phones to 268 million in the second quarter, but Apple's shipments declined the least of any major smartphone maker, dropping from 46.5 million phones to 45.3 million, according to data from Counterpoint Research. Analysts have repeatedly prodded Apple about its plans for such technology but the company has given few hints so far, other than Chief Executive Tim Cook's comments in July that the company's secret work on the technology is driving up its research spending.
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By far the biggest change for most Apple customers will be a switch from Apple's propriety "Lightning" charging cables to USB-C, a standard that Apple already uses on its laptops and some high-end iPads. "The truth of the matter is, we're in a very down smartphone market," said Bob O'Donnell, head of TECHnalysis Research. O'Donnell said he will also be on the lookout for any hints about Apple's plans with what is known as generative artificial intelligence, the technology trend behind applications like OpenAI's ChatGPT and Microsoft's "Copilot" assistant technologies for its Office software.
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13783.0
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2023-09-12 00:00:00 UTC
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US STOCKS-Wall St inches lower as Oracle slides, investors await inflation data
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-inches-lower-as-oracle-slides-investors-await-inflation-data
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nan
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nan
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By Ankika Biswas and Shristi Achar A
Sept 12 (Reuters) - Wall Street's main indexes fell on Tuesday as Oracle shares slumped, while investors awaited key inflation readings later this week for clues on the Federal Reserve's interest-rate path.
Cloud-services provider Oracle ORCL.N dropped 11.5% to its lowest intra-day level in a month, after forecasting current-quarter revenue below targets and narrowly missing first-quarter expectations.
Investors await August consumer prices data due on Wednesday and producer prices reading scheduled for Thursday, which will be followed by the Fed's policy decision on Sept. 20.
A recent uptick in oil prices and strong economic data have fueled concerns over stubborn inflation, clouding the chances of an end to U.S. monetary policy tightening.
"People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November," said Thomas Hayes, chairman at Great Hill Capital LLC.
"It seems regardless that Fed will skip in September, but the inflation data that we get between now and November is critical and the market is at the point where anymore tightening could be a bit excessive and a major headwind."
Traders see a 91% chance of rates remaining at the current levels in September and a near 53% likelihood of a pause in November, as per the CME FedWatch Tool.
Investors will also monitor the European Central Bank's policy decision on Thursday, where it is seen holding rates after nine consecutive hikes.
Energy stocks .SPNY added 1.7%, leading gains among major S&P 500 sectors as oil prices rose 1% on tighter supply outlook. O/R
Megacaps Amazon.com AMZN.O and Microsoft MSFT.O dropped 0.7% and 0.5%, respectively, while Apple AAPL.O slipped 0.4% ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition.
At 9:42 a.m. ET, the Dow Jones Industrial Average .DJI was down 44.48 points, or 0.13%, at 34,619.24, the S&P 500 .SPX was down 6.78 points, or 0.15%, at 4,480.68, and the Nasdaq Composite .IXIC was down 18.30 points, or 0.13%, at 13,899.59.
WestRock WRK.N jumped 6.4% on agreeing to merge with Europe's Smurfit Kappa SKG.I to create the world's largest listed paper and packaging company worth nearly $20 billion.
Paramount Global PARA.O added 1.0% as a report said major shareholder National Amusements had reached a debt-restructuring deal with its lenders.
Advancing issues outnumbered decliners by a 1.16-to-1 ratio on the NYSE and by a 1.09-to-1 ratio on the Nasdaq.
The S&P index recorded five new 52-week highs and eight new lows, while the Nasdaq recorded 16 new highs and 77 new lows.
(Reporting by Ankika Biswas and Shristi Achar A in Bengaluru; Editing by Arun Koyyur and Vinay Dwivedi)
((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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O/R Megacaps Amazon.com AMZN.O and Microsoft MSFT.O dropped 0.7% and 0.5%, respectively, while Apple AAPL.O slipped 0.4% ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - Wall Street's main indexes fell on Tuesday as Oracle shares slumped, while investors awaited key inflation readings later this week for clues on the Federal Reserve's interest-rate path. A recent uptick in oil prices and strong economic data have fueled concerns over stubborn inflation, clouding the chances of an end to U.S. monetary policy tightening.
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O/R Megacaps Amazon.com AMZN.O and Microsoft MSFT.O dropped 0.7% and 0.5%, respectively, while Apple AAPL.O slipped 0.4% ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - Wall Street's main indexes fell on Tuesday as Oracle shares slumped, while investors awaited key inflation readings later this week for clues on the Federal Reserve's interest-rate path. The S&P index recorded five new 52-week highs and eight new lows, while the Nasdaq recorded 16 new highs and 77 new lows.
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O/R Megacaps Amazon.com AMZN.O and Microsoft MSFT.O dropped 0.7% and 0.5%, respectively, while Apple AAPL.O slipped 0.4% ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition. By Ankika Biswas and Shristi Achar A Sept 12 (Reuters) - Wall Street's main indexes fell on Tuesday as Oracle shares slumped, while investors awaited key inflation readings later this week for clues on the Federal Reserve's interest-rate path. Investors await August consumer prices data due on Wednesday and producer prices reading scheduled for Thursday, which will be followed by the Fed's policy decision on Sept. 20.
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O/R Megacaps Amazon.com AMZN.O and Microsoft MSFT.O dropped 0.7% and 0.5%, respectively, while Apple AAPL.O slipped 0.4% ahead of its new iPhone 15 lineup launch amid uncertainty over market access in China and intensifying competition. Investors await August consumer prices data due on Wednesday and producer prices reading scheduled for Thursday, which will be followed by the Fed's policy decision on Sept. 20. A recent uptick in oil prices and strong economic data have fueled concerns over stubborn inflation, clouding the chances of an end to U.S. monetary policy tightening.
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13784.0
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2023-09-12 00:00:00 UTC
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California Senate passes climate bill, governor must decide by Oct 14
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AAPL
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https://www.nasdaq.com/articles/california-senate-passes-climate-bill-governor-must-decide-by-oct-14
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nan
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nan
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By Isla Binnie
Sept 12 (Reuters) - California's state Senate on Tuesday approved a bill requiring large companies to report their carbon footprints, sending the bill to Governor Gavin Newsom whose office said he must decide by Oct. 14 whether to sign it and get ahead of the federal government in setting corporate climate rules.
"A major step for climate action, requiring large corporations to disclose their entire carbon footprint - is on its way to the Governor!" Democratic Senator Scott Wiener wrote on social media site X after the chamber voted 27-8 to pass the bill.
It would require public and private companies that operate in California and earn more than $1 billion a year to do the accounting, Wiener said.
The California bill was supported by several big companies including Apple, Ikea and Microsoft, but it was opposed by the Chamber of Commerce business group which called it "onerous."
Companies are under mounting pressure from governments and shareholders to disclose their contributions to greenhouse gas emissions that warm the global climate and endanger traditional business models. The U.S. Securities and Exchange Commission (SEC) has not yet finalized its rules on disclosure.
Newsom's office said the governor has until Oct. 14 to act on the legislation, offering no further comment in response to a Reuters request.
Democrat-dominated California has long has had some of the strictest environmental rules in areas like vehicle fuel efficiency standards and planning policy, after passing a climate change law in 2006. In recent years, attempts to manage risks linked to environmental, social and governance (ESG) factors have been hotly contested and left deep divides between some states.
The bill tackles one of the thorniest issues in climate regulation by asking companies to measure and report a complex category of indirect emissions linked to their supply chains and end-users, known as Scope 3. The California Chamber of Commerce blasted the measure, calling it "an onerous emissions tracking and paperwork requirement that will increase costs on California businesses".
The law may face other hurdles even if Newsom approves it.
"I expect the legislation to be challenged in court," said Steve O'Day, a partner at law firm Smith Gambrell Russell, although "if it does become active it will begin to force analysis and disclosure of life cycle greenhouse gas emissions" ahead of the SEC's proposed federal rule.
(Reporting by Isla Binnie in New York; Editing by David Gregorio)
((isla.binnie@thomsonreuters.com; Reuters Messaging: isla.binnie.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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In recent years, attempts to manage risks linked to environmental, social and governance (ESG) factors have been hotly contested and left deep divides between some states. The bill tackles one of the thorniest issues in climate regulation by asking companies to measure and report a complex category of indirect emissions linked to their supply chains and end-users, known as Scope 3. "I expect the legislation to be challenged in court," said Steve O'Day, a partner at law firm Smith Gambrell Russell, although "if it does become active it will begin to force analysis and disclosure of life cycle greenhouse gas emissions" ahead of the SEC's proposed federal rule.
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By Isla Binnie Sept 12 (Reuters) - California's state Senate on Tuesday approved a bill requiring large companies to report their carbon footprints, sending the bill to Governor Gavin Newsom whose office said he must decide by Oct. 14 whether to sign it and get ahead of the federal government in setting corporate climate rules. "A major step for climate action, requiring large corporations to disclose their entire carbon footprint - is on its way to the Governor!" "I expect the legislation to be challenged in court," said Steve O'Day, a partner at law firm Smith Gambrell Russell, although "if it does become active it will begin to force analysis and disclosure of life cycle greenhouse gas emissions" ahead of the SEC's proposed federal rule.
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By Isla Binnie Sept 12 (Reuters) - California's state Senate on Tuesday approved a bill requiring large companies to report their carbon footprints, sending the bill to Governor Gavin Newsom whose office said he must decide by Oct. 14 whether to sign it and get ahead of the federal government in setting corporate climate rules. The California Chamber of Commerce blasted the measure, calling it "an onerous emissions tracking and paperwork requirement that will increase costs on California businesses". "I expect the legislation to be challenged in court," said Steve O'Day, a partner at law firm Smith Gambrell Russell, although "if it does become active it will begin to force analysis and disclosure of life cycle greenhouse gas emissions" ahead of the SEC's proposed federal rule.
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By Isla Binnie Sept 12 (Reuters) - California's state Senate on Tuesday approved a bill requiring large companies to report their carbon footprints, sending the bill to Governor Gavin Newsom whose office said he must decide by Oct. 14 whether to sign it and get ahead of the federal government in setting corporate climate rules. Democratic Senator Scott Wiener wrote on social media site X after the chamber voted 27-8 to pass the bill. It would require public and private companies that operate in California and earn more than $1 billion a year to do the accounting, Wiener said.
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13785.0
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2023-09-12 00:00:00 UTC
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3 Predictions for Apple Stock
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AAPL
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https://www.nasdaq.com/articles/3-predictions-for-apple-stock
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nan
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nan
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Apple (NASDAQ: AAPL) has a big hill to climb in impressing both users and investors. In this video, Travis Hoium predicts what's to come for the company's latest products, and it may not all be good for investors.
*Stock prices used were end-of-day prices of Sept. 8, 2023. The video was published on Sept. 11, 2023.
10 stocks we like better than Apple
When our analyst team has a stock 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 Apple 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 11, 2023
Travis Hoium has positions in Apple. The Motley Fool has positions in and recommends Apple. 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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Apple (NASDAQ: AAPL) has a big hill to climb in impressing both users and investors. In this video, Travis Hoium predicts what's to come for the company's latest products, and it may not all be good for investors. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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Apple (NASDAQ: AAPL) has a big hill to climb in impressing both users and investors. In this video, Travis Hoium predicts what's to come for the company's latest products, and it may not all be good for investors. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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Apple (NASDAQ: AAPL) has a big hill to climb in impressing both users and investors. 10 stocks we like better than Apple When our analyst team has a stock 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.
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Apple (NASDAQ: AAPL) has a big hill to climb in impressing both users and investors. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Apple wasn't one of them! See the 10 stocks *Stock Advisor returns as of September 11, 2023 Travis Hoium has positions in Apple.
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13786.0
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2023-09-12 00:00:00 UTC
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Stocks Retreat as Tech Stocks Fall on Weakness in Oracle and Apple
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AAPL
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https://www.nasdaq.com/articles/stocks-retreat-as-tech-stocks-fall-on-weakness-in-oracle-and-apple
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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) Tuesday closed down -0.57%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.11%.
Stocks on Tuesday posted moderate losses. Weakness in technology stocks weighed on the overall market, with Oracle closing more than -13% after reporting weaker-than-expected Q1 revenue due to slowing cloud sales. Morgan Stanley said Oracle’s results raise questions about the timing of generative artificial intelligence (AI) demand turning into revenue across the broader business. Also, Apple closed down more than -1% after unveiling its iPhone 15 product line.
On the positive side was a rally in energy stocks after the price of WTI crude oil climbed to a nearly 10-month high. Also, several regional bank stocks rallied after providing optimistic outlooks at the Barclays Global Financial Services Conference.
U.S. financial markets are awaiting Wednesday’s consumer price data for direction. The U.S. Aug CPI is expected to increase to +3.6% y/y from July’s +3.2% and June’s 2-1/4 year low of +3.0%. However, the Aug core CPI is expected to ease to a new 1-3/4 year low of +4.3% y/y from July’s 1-3/4 year low of +4.7%.
The markets are discounting the odds at 7% for a +25 bp rate hike at the September 20 FOMC meeting and 42% for that +25 bp rate hike at the November 1 FOMC meeting.
Global bond yields on Tuesday were mixed. The 10-year T-note yield fell -2.6 bp to 4.262%. The 10-year German bund yield rose +0.5 bp at 2.643%. The 10-year UK gilt yield fell to a 1-week low of 4.407% and finished down -5.6 bp at 4.416%.
Overseas stock markets Tuesday settled mixed. The Euro Stoxx 50 closed down -0.28%. China’s Shanghai Composite Index closed -0.18%. Japan’s Nikkei Stock Index closed +0.95%.
The German Sep ZEW survey expectations of economic growth unexpectedly rose +0.9 to -11.4, stronger than expectations of a decline to -15.0.
Today’s stock movers…
Oracle (ORCL) closed down more than -13% to lead losers in the S&P 500 after reporting Q1 adjusted revenue of $12.45 billion, weaker than the consensus of $12.47 billion.
Northern Trust (NTRS) closed down more than -6% after a disappointing presentation at the Barclays Global Financial Services Conference.
Eaton Corp Plc (ETN) closed down more than -4% on comments from CEO Arnold at a Mogan Stanley conference when he discussed tough labor conditions, extended order completion time, and tough year-over-year comparisons.
Apple (AAPL) closed down more than -1% after it launched its new iPhone 15 product line.
Acelyrin (SLRN) closed down more than -55% after its drug izokibep did not meet the primary endpoint of a clinical trial of patients with hidradenitis suppurativa, a chronic inflammatory skin condition.
Comerica (CMA) closed down more than -2% after CEO Farmer said Q3 expenses could come in above prior guidance, and the company hasn’t added any brokered deposits this quarter.
United Parcel Service (UPS) closed down more than -2% after CEO Tome said the company would pay out the biggest portion of its new five-year labor pact over the next 12 months, making for a challenging upcoming year.
RTX Corp (RTX) closed down more than -1% after RBC Capital Markets downgraded the stock to sector perform from outperform.
Zions Bancorp (ZION) closed up more than +6% to lead gainers in the S&P 500 after the company gave an update on trends so far this quarter on deposits, net interest margin, and net interest income that were all better than estimates at the Barclays Global Financial Services Conference.
PNC Financial Services Group (PNC) closed up more than +5% after Piper Sandler said that guidance from CEO Demchak at the Barclays Global Financial Services Conference could put upward pressure on the company’s EPS estimates.
KeyCorp (KEY) closed up more than +5% after Piper Sandler said it was positive that management reiterated guidance at the Barclays Global Financial Services Conference.
Energy stocks rallied Tuesday as the price of WTI crude rose more than +1% to a nearly 10-month high. As a result, Occidental Petroleum (OXY) closed up more than +4%. Also, APA Corp (APA) and Marathon Oil (MRO) closed up more than +3%. In addition, Exxon Mobil (XOM), ConocoPhillips (COP), Diamondback Energy (FANG), Haliburton (HAL), Hess Corp (HES), and Schlumberger (SLB) closed up more than +2%.
Cintas (CTAS) closed up more than +2% to lead gainers in the Nasdaq 100 after Bank of America Global Research upgraded the stock to buy from neutral with a price target of $580.
U.S. automakers rose Tuesday after Deputy Treasury Secretary Adeyemo said the Biden administration has deployed top officials to facilitate talks between the UAW and automakers and expects a deal between the parties. As a result, General Motors (GM) closed up more than +2%, and Ford Motor (F) and Stellantis NV (STLA) closed up more than +1%.
Westrock (WRK) closed up more than +2% after Smurfit Kappa Group Plc agreed to acquire the company in a $11.2 billion deal.
PayPal Holdings (PYPL) closed up more than +1% after it extended its relationship with Uber to include expanded use of payment processing and alternative debt network routing.
Across the markets…
December 10-year T-notes (ZNZ23) on Tuesday closed up +3 ticks, and the 10-year T-note yield fell -2.6 bp to 4.262%. Dec T-notes on Tuesday posted modest gains on positive carryover from a rally in 10-year UK gilts to a 1-week high. Also, weakness in stocks Tuesday boosted some safe-haven demand for T-notes. Strong demand for the Treasury’s $35 billion auction of re-opened 10-year T-notes supported T-note prices as the auction had a bid-to-cover ratio of 2.52, above the 10-auction average of 2.43.
More Stock Market News from Barchart
1 Stock to Buy Now for the Aluminum Price Recovery
Dollar Gains Ahead of Wednesday’s U.S. CPI Report
Crude Prices Push Higher as OPEC Projects Global Oil Supplies to Tighten Further
Nat-Gas Prices Jump on Forecasts for Hot U.S. Temps Later This Month
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) closed down more than -1% after it launched its new iPhone 15 product line. Acelyrin (SLRN) closed down more than -55% after its drug izokibep did not meet the primary endpoint of a clinical trial of patients with hidradenitis suppurativa, a chronic inflammatory skin condition. United Parcel Service (UPS) closed down more than -2% after CEO Tome said the company would pay out the biggest portion of its new five-year labor pact over the next 12 months, making for a challenging upcoming year.
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Apple (AAPL) closed down more than -1% after it launched its new iPhone 15 product line. The markets are discounting the odds at 7% for a +25 bp rate hike at the September 20 FOMC meeting and 42% for that +25 bp rate hike at the November 1 FOMC meeting. PNC Financial Services Group (PNC) closed up more than +5% after Piper Sandler said that guidance from CEO Demchak at the Barclays Global Financial Services Conference could put upward pressure on the company’s EPS estimates.
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Apple (AAPL) closed down more than -1% after it launched its new iPhone 15 product line. What you need to know… The S&P 500 Index ($SPX) (SPY) Tuesday closed down -0.57%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.11%. PNC Financial Services Group (PNC) closed up more than +5% after Piper Sandler said that guidance from CEO Demchak at the Barclays Global Financial Services Conference could put upward pressure on the company’s EPS estimates.
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Apple (AAPL) closed down more than -1% after it launched its new iPhone 15 product line. The 10-year T-note yield fell -2.6 bp to 4.262%. Zions Bancorp (ZION) closed up more than +6% to lead gainers in the S&P 500 after the company gave an update on trends so far this quarter on deposits, net interest margin, and net interest income that were all better than estimates at the Barclays Global Financial Services Conference.
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13787.0
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2023-09-12 00:00:00 UTC
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EXCLUSIVE-Arm to fetch at least $54.5 billion valuation in IPO -source
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AAPL
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https://www.nasdaq.com/articles/exclusive-arm-to-fetch-at-least-%2454.5-billion-valuation-in-ipo-source
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nan
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By Echo Wang
NEW YORK, Sept 12 (Reuters) - Arm, the chip designer owned by SoftBank Group Corp 9984.T, received enough backing from investors to secure at least the top end of the price range in its initial public offering, which would command a $54.5 billion valuation on a fully diluted basis, a person familiar with the matter said on Tuesday.
Reuters had reported on Sunday that this outcome was likely. After reviewing investor commitments on Tuesday, Arm decided it will only accept the top end of its indicated $47-to-$51-per-share range, or a price that is even higher, the source said.
Arm may price its IPO above the indicated price range and will decide on how much it will sell its shares for on Wednesday, that source and a second person with knowledge of the matter said. The shares are scheduled to start trading in New York on Thursday.
Arm was considering publishing a revised price range that would have been higher, reflecting the strong investor demand. It decided against such a move, adhering to its more conservative approach to marketing the offering, the sources said. Pricing the approximately $5 billion IPO conservatively raises the chances of the shares trading strongly at their debut on Thursday, the sources added.
The sources requested anonymity because the matter is confidential. Arm and SoftBank did not immediately respond to requests for comment.
The valuation that Arm has been seeking thus far represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from the $100 billion Vision Fund it manages.
Yet even with this lower valuation, SoftBank would fare better than its $40 billion deal to sell Arm to Nvidia Corp NVDA.O, which it abandoned last year amid opposition from antitrust regulators. SoftBank took Arm private in 2016 for $32 billion.
Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS.
Arm launched its IPO marketing efforts last week, seeking to convince investors it has growth ahead of it, beyond the mobile phone market, which it dominates with a 99% share.
Weak mobile demand during a global economic slowdown has caused Arm's revenue to stagnate. Overall sales totaled $2.68 billion in the 12 months to the end of March, compared to $2.7 billion in the prior period.
Arm told potential investors in New York last Thursday that the cloud computing market, of which it has only a 10% share and therefore more room to expand, is expected to grow at an annual rate of 17% through 2025, partly thanks to advances in artificial intelligence. The automotive market, of which it commands 41%, is forecast to expand by 16%, compared with just 6% growth expected for the mobile market.
Arm also told investors its royalty fees, which account for most of its revenue, were accumulating since it started collecting them in the early 1990s. Royalty revenue came in at $1.68 billion at the latest fiscal year, up from $1.56 billion a year before.
An area of scrutiny for investors has been Arm's exposure to China, given geopolitical tensions with the United States that have led to a race to secure chip supplies. Sales in China contributed 24.5% of Arm's $2.68 billion revenue in fiscal 2023.
EXCLUSIVE-SoftBank's Arm eyes pricing IPO at top of range or above-sources
(Reporting by Echo Wang in New York; Additional reporting by Svea Herbst-Bayliss in New York; Editing by Greg Roumeliotis and Lisa Shumaker)
((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.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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Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. By Echo Wang NEW YORK, Sept 12 (Reuters) - Arm, the chip designer owned by SoftBank Group Corp 9984.T, received enough backing from investors to secure at least the top end of the price range in its initial public offering, which would command a $54.5 billion valuation on a fully diluted basis, a person familiar with the matter said on Tuesday. Arm told potential investors in New York last Thursday that the cloud computing market, of which it has only a 10% share and therefore more room to expand, is expected to grow at an annual rate of 17% through 2025, partly thanks to advances in artificial intelligence.
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Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. By Echo Wang NEW YORK, Sept 12 (Reuters) - Arm, the chip designer owned by SoftBank Group Corp 9984.T, received enough backing from investors to secure at least the top end of the price range in its initial public offering, which would command a $54.5 billion valuation on a fully diluted basis, a person familiar with the matter said on Tuesday. Arm was considering publishing a revised price range that would have been higher, reflecting the strong investor demand.
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Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. By Echo Wang NEW YORK, Sept 12 (Reuters) - Arm, the chip designer owned by SoftBank Group Corp 9984.T, received enough backing from investors to secure at least the top end of the price range in its initial public offering, which would command a $54.5 billion valuation on a fully diluted basis, a person familiar with the matter said on Tuesday. Arm may price its IPO above the indicated price range and will decide on how much it will sell its shares for on Wednesday, that source and a second person with knowledge of the matter said.
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Arm has already signed up many of its major clients as cornerstone investors in its IPO, including Apple AAPL.O, Nvidia, Alphabet GOOGL.O, Advanced Micro Devices AMD.O, Intel INTC.O and Samsung Electronics 005930.KS. Arm may price its IPO above the indicated price range and will decide on how much it will sell its shares for on Wednesday, that source and a second person with knowledge of the matter said. The automotive market, of which it commands 41%, is forecast to expand by 16%, compared with just 6% growth expected for the mobile market.
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13788.0
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2023-09-12 00:00:00 UTC
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US STOCKS-Wall Street ends lower as Oracle tumbles on weak forecast
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-lower-as-oracle-tumbles-on-weak-forecast
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nan
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nan
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By Noel Randewich and Ankika Biswas
Sept 12 (Reuters) - Wall Street stocks ended lower on Tuesday as Oracle shares tumbled more than 13% after a weak forecast and surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week.
Oracle ORCL.N shares dived to their lowest since June after the cloud-services provider forecast current-quarter revenue below targets and narrowly missed first-quarter expectations.
Cloud-computing heavyweights Amazon.com AMZN.O and Microsoft MSFT.O each fell more than 1%, pressured by Oracle's weak forecast and by a rise in U.S. Treasury yields.
Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data.
"People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November" when some investors worry Federal Reserve policy makers may raise rates again, said Thomas Hayes, chairman at Great Hill Capital LLC.
Investors are awaiting August consumer price index data due on Wednesday and producer prices reading scheduled for Thursday to gauge the outlook for U.S. interest rates ahead of the Fed's meeting on Sept. 20.
Interest rate traders see a 93% chance of rates remaining at the current levels in September but just a 56% likelihood of a pause at the November meeting, according to the CME FedWatch Tool.
"All the all the inputs that we get between now and the November meeting will be important, especially those related to inflation. So that thrusts a lot of importance on tomorrow's CPI report," said Art Hogan, chief market strategist at B Riley Wealth.
Investors will also monitor the European Central Bank's policy decision on Thursday, when it is seen holding rates after nine consecutive hikes.
Apple AAPL.O dropped 1.8% after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. The stock was also hurt by a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%.
The S&P 500 declined 0.57% to end the session at 4,461.91 points.
The Nasdaq declined 1.04% to 13,773.62 points, while Dow Jones Industrial Average declined 0.05% to 34,645.99 points.
Of the 11 S&P 500 sector indexes, eight declined, led lower by information technology .SPLRCT, down 1.75%, followed by a 1.06% loss in communication services .SPLRCL. The energy index .SPNY added 2.31%.
Volume on U.S. exchanges was relatively light, with 9.4 billion shares traded, compared to an average of 9.9 billion shares over the previous 20 sessions.
The most traded stock in the S&P 500 was Tesla TSLA.OQ, with $36.7 billion worth of shares exchanged during the session. The electric car maker declined 2.23%.
WestRock WRK.N jumped 2.8% after agreeing to merge with Europe's Smurfit Kappa SKG.I to create the world's largest listed paper and packaging company, worth nearly $20 billion.
Advance Auto Parts AAP.N dropped about 8% after S&P Global downgraded the auto parts retailer's credit and debt ratings from investment grade (BBB-) to junk (BB+).
Zions Bancorp ZION.Ojumped 6.8% after the U.S. regional lender posted a slight increase in its monthly net interest income growth.
Declining stocks outnumbered rising ones within the S&P 500 .AD.SPX by a 1.4-to-one ratio.
The S&P 500 posted 12 new highs and 14 new lows; the Nasdaq recorded 48 new highs and 184 new lows.
(Reporting by Ankika Biswas and Shristi Achar A in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Arun Koyyur, Vinay Dwivedi and David Gregorio)
((noel.randewich@tr.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 dropped 1.8% after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. Oracle ORCL.N shares dived to their lowest since June after the cloud-services provider forecast current-quarter revenue below targets and narrowly missed first-quarter expectations. Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data.
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Apple AAPL.O dropped 1.8% after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. By Noel Randewich and Ankika Biswas Sept 12 (Reuters) - Wall Street stocks ended lower on Tuesday as Oracle shares tumbled more than 13% after a weak forecast and surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week. "People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November" when some investors worry Federal Reserve policy makers may raise rates again, said Thomas Hayes, chairman at Great Hill Capital LLC.
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Apple AAPL.O dropped 1.8% after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. By Noel Randewich and Ankika Biswas Sept 12 (Reuters) - Wall Street stocks ended lower on Tuesday as Oracle shares tumbled more than 13% after a weak forecast and surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week. "People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November" when some investors worry Federal Reserve policy makers may raise rates again, said Thomas Hayes, chairman at Great Hill Capital LLC.
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Apple AAPL.O dropped 1.8% after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. By Noel Randewich and Ankika Biswas Sept 12 (Reuters) - Wall Street stocks ended lower on Tuesday as Oracle shares tumbled more than 13% after a weak forecast and surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week. The S&P 500 declined 0.57% to end the session at 4,461.91 points.
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13789.0
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2023-09-12 00:00:00 UTC
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Apple Unveils Watch Ultra 2, AirPods Pro With USB-C Charging
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AAPL
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https://www.nasdaq.com/articles/apple-unveils-watch-ultra-2-airpods-pro-with-usb-c-charging
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nan
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nan
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(RTTNews) - Apple Inc. (AAPL) revealed its latest products on Tuesday, including the Apple Watch Ultra 2 and the second generation of AirPods Pro, which now have USB-C charging capabilities.
The Apple Watch Ultra 2 boasts various features such as the S9 SiP, an improved display, expanded altitude range, on-device Siri, and advanced capabilities for water sports. The watch runs on the watchOS 10 and includes redesigned apps, new cycling experiences, and features to help explore the outdoors.
Customers can now opt for a carbon-neutral option for any Apple Watch, which is a significant step towards Apple's 2030 plan to be carbon-neutral across its entire business, manufacturing supply chain, and product life cycle by 2030.
The Ultra 2 is powered by custom Apple silicon in the all-new S9 SiP and a new 4-core Neural Engine that processes machine learning tasks up to twice as fast as the original Ultra. The Digital Crown and Taptic Engine, along with gestures like tap, swipe, wrist raise, and cover to mute, make the Ultra 2 user-friendly and intuitive.
The second generation of AirPods Pro now has MagSafe Charging (USB-C) and offers exceptional sound quality, advanced noise cancellation, a transparency mode, and a more immersive spatial audio experience. They also come with an expanded range of ear tip sizes for a better fit and improved dust resistance, making them perfect for outdoor adventures.
With iOS 17, users can enjoy new features like Adaptive Audio and Conversation Awareness. The AirPods Pro are even more convenient and durable now, with a USB-C connector that allows for easy charging of Mac, iPad, and iPhone 15 models.
The AirPods Pro is also eco-friendly, made with 100% recycled rare earth elements in all magnets and recycled gold in the plating of multiple printed circuit boards. The earbuds are free of harmful substances like mercury, BFRs, PVC, and beryllium. The redesigned packaging uses fiber-based materials, bringing Apple closer to its goal of eliminating plastic from all packaging by 2025.
Both the Apple Watch Ultra 2 and the AirPods Pro (2nd generation) with MagSafe Charging Case (USB-C) can be ordered now and will be available for purchase beginning Friday, September 22.
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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(RTTNews) - Apple Inc. (AAPL) revealed its latest products on Tuesday, including the Apple Watch Ultra 2 and the second generation of AirPods Pro, which now have USB-C charging capabilities. The Apple Watch Ultra 2 boasts various features such as the S9 SiP, an improved display, expanded altitude range, on-device Siri, and advanced capabilities for water sports. The second generation of AirPods Pro now has MagSafe Charging (USB-C) and offers exceptional sound quality, advanced noise cancellation, a transparency mode, and a more immersive spatial audio experience.
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(RTTNews) - Apple Inc. (AAPL) revealed its latest products on Tuesday, including the Apple Watch Ultra 2 and the second generation of AirPods Pro, which now have USB-C charging capabilities. The Apple Watch Ultra 2 boasts various features such as the S9 SiP, an improved display, expanded altitude range, on-device Siri, and advanced capabilities for water sports. Both the Apple Watch Ultra 2 and the AirPods Pro (2nd generation) with MagSafe Charging Case (USB-C) can be ordered now and will be available for purchase beginning Friday, September 22.
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(RTTNews) - Apple Inc. (AAPL) revealed its latest products on Tuesday, including the Apple Watch Ultra 2 and the second generation of AirPods Pro, which now have USB-C charging capabilities. The Apple Watch Ultra 2 boasts various features such as the S9 SiP, an improved display, expanded altitude range, on-device Siri, and advanced capabilities for water sports. Both the Apple Watch Ultra 2 and the AirPods Pro (2nd generation) with MagSafe Charging Case (USB-C) can be ordered now and will be available for purchase beginning Friday, September 22.
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(RTTNews) - Apple Inc. (AAPL) revealed its latest products on Tuesday, including the Apple Watch Ultra 2 and the second generation of AirPods Pro, which now have USB-C charging capabilities. The watch runs on the watchOS 10 and includes redesigned apps, new cycling experiences, and features to help explore the outdoors. Both the Apple Watch Ultra 2 and the AirPods Pro (2nd generation) with MagSafe Charging Case (USB-C) can be ordered now and will be available for purchase beginning Friday, September 22.
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13790.0
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2023-09-12 00:00:00 UTC
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US STOCKS-Wall Street ends lower on weak Oracle forecast, jitters about high oil prices
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-lower-on-weak-oracle-forecast-jitters-about-high-oil-prices
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nan
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nan
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By Noel Randewich and Ankika Biswas
Sept 12 (Reuters) - Wall Street stocks ended lower on Tuesday as surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after a downbeat forecast.
Oracle ORCL.Nshares tumbled to their lowest since June after the cloud-services provider forecast current-quarter revenue below targets and narrowly missed first-quarter expectations.
Cloud-computing heavyweights Amazon.com AMZN.O and Microsoft > also fell, pressured by Oracle's weak forecast and by a rise in U.S. Treasury yields.
Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data.
"People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November" when some investors worry Federal Reserve policy makers may raise rates again, said Thomas Hayes, chairman at Great Hill Capital LLC.
Investors are awaiting August consumer price index data due on Wednesday and producer prices reading scheduled for Thursday to gauge the outlook for U.S. interest rates ahead of the Fed's meeting on Sept. 20.
Interest rate traders see a 93% chance of rates remaining at the current levels in September but just a 56% likelihood of a pause at the November meeting, according to the CME FedWatch Tool.
"All the all the inputs that we get between now and the November meeting will be important, especially those related to inflation. So that thrusts a lot of importance on tomorrow's CPI report," said Art Hogan, chief market strategist at B Riley Wealth.
Investors will also monitor the European Central Bank's policy decision on Thursday, when it is seen holding rates after nine consecutive hikes.
Apple AAPL.O dropped after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. The stock was also hurt by a report that China's Huawei Technologies has raised the second-half shipment target for its Mate 60 series smartphone by 20%.
According to preliminary data, the S&P 500 .SPX lost 25.52 points, or 0.57%, to end at 4,461.94 points, while the Nasdaq Composite .IXIC lost 144.28 points, or 1.04%, to 13,773.62. The Dow Jones Industrial Average .DJI fell 14.37 points, or 0.04%, to 34,649.35.
WestRock WRK.Njumped after agreeing to merge with Europe's Smurfit Kappa SKG.I to create the world's largest listed paper and packaging company, worth nearly $20 billion.
Advance Auto Parts AAP.Ndropped after S&P Global downgraded the auto parts retailer's credit and debt ratings from investment grade (BBB-) to junk (BB+).
Zions Bancorp ZION.Ojumped after the U.S. regional lender posted a slight increase in its monthly net interest income growth.
(Reporting by Ankika Biswas and Shristi Achar A in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Arun Koyyur, Vinay Dwivedi and David Gregorio)
((noel.randewich@tr.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 dropped after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. Oracle ORCL.Nshares tumbled to their lowest since June after the cloud-services provider forecast current-quarter revenue below targets and narrowly missed first-quarter expectations. Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data.
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Apple AAPL.O dropped after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. By Noel Randewich and Ankika Biswas Sept 12 (Reuters) - Wall Street stocks ended lower on Tuesday as surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after a downbeat forecast. "People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November" when some investors worry Federal Reserve policy makers may raise rates again, said Thomas Hayes, chairman at Great Hill Capital LLC.
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Apple AAPL.O dropped after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. By Noel Randewich and Ankika Biswas Sept 12 (Reuters) - Wall Street stocks ended lower on Tuesday as surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after a downbeat forecast. "People are a little bit worried about energy prices picking up pretty aggressively in recent weeks and that creates some concerns as we look forward to November" when some investors worry Federal Reserve policy makers may raise rates again, said Thomas Hayes, chairman at Great Hill Capital LLC.
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Apple AAPL.O dropped after unveiling new iPhones, while not increasing prices as it faces a global smartphone slump. By Noel Randewich and Ankika Biswas Sept 12 (Reuters) - Wall Street stocks ended lower on Tuesday as surging oil prices deepened worries about persistent price pressures ahead of crucial inflation readings this week, while Oracle slumped after a downbeat forecast. Oil prices jumped more than 1%, building on a recent rally and stoking worries that sticky inflation could mean U.S. interest rates stay higher longer in the aftermath of strong economic data.
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13791.0
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2023-09-12 00:00:00 UTC
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Technology Sector Update for 09/12/2023: AAPL, ORCL, GOOG, METX
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AAPL
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https://www.nasdaq.com/articles/technology-sector-update-for-09-12-2023%3A-aapl-orcl-goog-metx
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nan
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nan
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Tech stocks were lower late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 2% and the Philadelphia Semiconductor index shedding 0.6%.
In corporate news, Apple (AAPL) on Tuesday launched its new iPhone 15 and other products. The shares dropped 1.8%.
Oracle (ORCL) shares tumbled 13% after the company missed Q1 revenue expectations and issued downbeat Q2 guidance.
Alphabet's (GOOG) Google pays more than $10 billion a year to retain its search engine dominance, a US Department of Justice attorney reportedly said during the first day of a closely watched antitrust trial. Alphabet shares were shedding 1.2%.
BTC Digital (METX) shares jumped 7.1%. Nasdaq notified the company it regained compliance with the exchange's minimum bid price requirement.
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 corporate news, Apple (AAPL) on Tuesday launched its new iPhone 15 and other products. Tech stocks were lower late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 2% and the Philadelphia Semiconductor index shedding 0.6%. Oracle (ORCL) shares tumbled 13% after the company missed Q1 revenue expectations and issued downbeat Q2 guidance.
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In corporate news, Apple (AAPL) on Tuesday launched its new iPhone 15 and other products. Alphabet shares were shedding 1.2%. Nasdaq notified the company it regained compliance with the exchange's minimum bid price requirement.
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In corporate news, Apple (AAPL) on Tuesday launched its new iPhone 15 and other products. Tech stocks were lower late Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 2% and the Philadelphia Semiconductor index shedding 0.6%. Oracle (ORCL) shares tumbled 13% after the company missed Q1 revenue expectations and issued downbeat Q2 guidance.
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In corporate news, Apple (AAPL) on Tuesday launched its new iPhone 15 and other products. Oracle (ORCL) shares tumbled 13% after the company missed Q1 revenue expectations and issued downbeat Q2 guidance. Alphabet shares were shedding 1.2%.
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13792.0
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2023-09-12 00:00:00 UTC
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Markets Cool on Apple 15 News; CPI Tomorrow
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AAPL
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https://www.nasdaq.com/articles/markets-cool-on-apple-15-news-cpi-tomorrow
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nan
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nan
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As we saw in pre-market trading this morning, indices struggled to hang onto gains produced going back to the end of last week: the Nasdaq and S&P snapped two-day winning streaks, three days for the Dow. Which is fine — without major catalysts in earnings or economic activity, senseless up-bidding would be rife for comeuppance if those major catalysts don’t come in at perfect levels.
The Dow dipped -16 points on the day, -0.05%, while the Nasdaq, led downward by Oracle’s ORCL -13.5% drop today after so-so earnings yesterday afternoon, dropped -144 points, -1.04%. The S&P split the difference, -0.57%, while the small-cap Russell 2000 inched up at the close, +0.02%. Tech finished the session at the bottom of all sectors, while Energy led the way higher.
As expected, Apple AAPL unveiled the new iPhone 15 series today, which include the basic phone for $799, the 15+ for $899, the 15 Pro for $999 and the Max Pro at a new price point of $1199. The iPhones will now include the standard USB-C connector, which the company had resisted for the past decade-plus. An improved camera is a feature of the new Max Pro, while the Watch Series 9 boasts a new processor.
Gone are the days of new, innovative products representing a step beyond its competition at Apple. In fact, since founder Steve Jobs’ death in 2011, Apple has turned increasingly to its back-end advantages and away from new product launches independent from updates, and more toward unveiling events like the one we saw today. The company is still the biggest in the world by market cap, and even with Chinese officials facing a ban on usage of iPhone products, there doesn’t look to be any insurgent company threatening Apple’s perch.
Shares closed down for Apple today, -1.7%, and has yet to recover to near-term highs early this month, prior to the ban out of China. Apple is trading +41% year to date but only +14.6% over the last full year. The new iPhone and Apple Watch products will be available Friday, September 22nd — just in time to show up somewhat in pending fiscal Q4 earnings and sales results, which are expected to come out the last week of October.
Consumer Price Index (CPI) numbers will be released tomorrow morning for the month of August, and depending on which figures you’re looking at, you’re likely to see either meaningful gains or a meaningful reduction. Headline month-over-month CPI is expected to rise to +0.6% from +0.2% the previous month, although the core print is expected to remain +0.2% month over month. Year over year, +3.6% is what analysts are looking for, 40 basis points above the +3.2% reported for July, but core CPI year over year is expected to drop to +4.3% from the previous month’s +4.7%.
This last is likely the main takeaway from tomorrow’s CPI report. Should these numbers come in as expected, this will be the lowest core CPI read in nearly two years. Yes, it’s still more than double what the Fed continues to assert as optimum inflation levels, but a +4.3% — or lower — is likely to be taken well by market participants who today had little appetite to up-bid the markets. That said, a higher-than-expected core CPI number may reignite speculation that more Fed rate hikes are in the cards, which would likely provide a sell signal.
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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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As expected, Apple AAPL unveiled the new iPhone 15 series today, which include the basic phone for $799, the 15+ for $899, the 15 Pro for $999 and the Max Pro at a new price point of $1199. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report To read this article on Zacks.com click here. As we saw in pre-market trading this morning, indices struggled to hang onto gains produced going back to the end of last week: the Nasdaq and S&P snapped two-day winning streaks, three days for the Dow.
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As expected, Apple AAPL unveiled the new iPhone 15 series today, which include the basic phone for $799, the 15+ for $899, the 15 Pro for $999 and the Max Pro at a new price point of $1199. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report To read this article on Zacks.com click here. The Dow dipped -16 points on the day, -0.05%, while the Nasdaq, led downward by Oracle’s ORCL -13.5% drop today after so-so earnings yesterday afternoon, dropped -144 points, -1.04%.
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As expected, Apple AAPL unveiled the new iPhone 15 series today, which include the basic phone for $799, the 15+ for $899, the 15 Pro for $999 and the Max Pro at a new price point of $1199. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report To read this article on Zacks.com click here. Year over year, +3.6% is what analysts are looking for, 40 basis points above the +3.2% reported for July, but core CPI year over year is expected to drop to +4.3% from the previous month’s +4.7%.
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As expected, Apple AAPL unveiled the new iPhone 15 series today, which include the basic phone for $799, the 15+ for $899, the 15 Pro for $999 and the Max Pro at a new price point of $1199. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report To read this article on Zacks.com click here. Should these numbers come in as expected, this will be the lowest core CPI read in nearly two years.
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13793.0
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2023-09-11 00:00:00 UTC
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Notable Monday Option Activity: AAPL, GS, SJM
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AAPL
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https://www.nasdaq.com/articles/notable-monday-option-activity%3A-aapl-gs-sjm
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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 604,734 contracts have traded so far, representing approximately 60.5 million underlying shares. That amounts to about 107% of AAPL's average daily trading volume over the past month of 56.5 million shares. Particularly high volume was seen for the $180 strike call option expiring September 15, 2023, with 83,977 contracts trading so far today, representing approximately 8.4 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $180 strike highlighted in orange:
Goldman Sachs Group Inc (Symbol: GS) options are showing a volume of 15,558 contracts thus far today. That number of contracts represents approximately 1.6 million underlying shares, working out to a sizeable 90.5% of GS's average daily trading volume over the past month, of 1.7 million shares. Particularly high volume was seen for the $400 strike put option expiring January 19, 2024, with 1,280 contracts trading so far today, representing approximately 128,000 underlying shares of GS. Below is a chart showing GS's trailing twelve month trading history, with the $400 strike highlighted in orange:
And J.M. Smucker Co. (Symbol: SJM) options are showing a volume of 7,373 contracts thus far today. That number of contracts represents approximately 737,300 underlying shares, working out to a sizeable 73% of SJM's average daily trading volume over the past month, of 1.0 million shares. Particularly high volume was seen for the $140 strike call option expiring October 20, 2023, with 1,210 contracts trading so far today, representing approximately 121,000 underlying shares of SJM. Below is a chart showing SJM's trailing twelve month trading history, with the $140 strike highlighted in orange:
For the various different available expirations for AAPL options, GS options, or SJM options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Dow Average Annual Return
ZLS shares outstanding history
Funds Holding USMR
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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Particularly high volume was seen for the $180 strike call option expiring September 15, 2023, with 83,977 contracts trading so far today, representing approximately 8.4 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 604,734 contracts have traded so far, representing approximately 60.5 million underlying shares. That amounts to about 107% of AAPL's average daily trading volume over the past month of 56.5 million shares.
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Particularly high volume was seen for the $180 strike call option expiring September 15, 2023, with 83,977 contracts trading so far today, representing approximately 8.4 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 604,734 contracts have traded so far, representing approximately 60.5 million underlying shares. That amounts to about 107% of AAPL's average daily trading volume over the past month of 56.5 million 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 604,734 contracts have traded so far, representing approximately 60.5 million underlying shares. Particularly high volume was seen for the $180 strike call option expiring September 15, 2023, with 83,977 contracts trading so far today, representing approximately 8.4 million underlying shares of AAPL. That amounts to about 107% of AAPL's average daily trading volume over the past month of 56.5 million shares.
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Particularly high volume was seen for the $180 strike call option expiring September 15, 2023, with 83,977 contracts trading so far today, representing approximately 8.4 million underlying shares of AAPL. Below is a chart showing SJM's trailing twelve month trading history, with the $140 strike highlighted in orange: For the various different available expirations for AAPL options, GS options, or SJM options, visit StockOptionsChannel.com. 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 604,734 contracts have traded so far, representing approximately 60.5 million underlying shares.
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13794.0
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2023-09-11 00:00:00 UTC
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The 3 Most Undervalued AI Chip Stocks to Buy in September 2023
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AAPL
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https://www.nasdaq.com/articles/the-3-most-undervalued-ai-chip-stocks-to-buy-in-september-2023
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Artificial intelligence has been around for a while, but tools like ChatGPT have brought this innovative technology into the spotlight. A growing number of companies want to create their own AI-powered tools.
When many companies and consumers rush toward a technological innovation, it presents an opportunity for investors. Some publicly-traded companies stand to immensely benefit from the surge of artificial intelligence tools. Other have plenty of runway to generate robust gains for investors.
With that said, artificial intelligence tools and solutions rely heavily upon AI chips. Investors looking for compelling AI chip stocks may want to consider these undervalued picks.
Qualcomm (QCOM)
Source: photobyphm / Shutterstock.com
Qualcomm (NASDAQ:QCOM) hasn’t enjoyed the same success as other AI chip beneficiaries. Shares are roughly flat for the year, and the threat of an iPhone ban in China has also rattled shares. Since Qualcomm provides chips that go into iPhones, it makes sense that QCOM shares took a hit. Less demand for Apple’s (NASDAQ:AAPL) products hurts Qualcomm’s revenue and earnings.
A widespread ban is speculative in nature, as the current ban on iPhones only applies to government officials. It’s similar to the rule of U.S. government officials can’t use TikTok, but the app remains available throughout the country.
Qualcomm shares fell by 7% upon the news. It is unlikely that China will ban iPhones throughout the country, and the knee-jerk reaction presents a buying opportunity. If governments start banning TikTok and similar products, then the prospects of an iPhone ban become more concerning.
The dip in Qualcomm’s stock price has resulted in a 3% yield for new investors. The higher yield gives investors more mileage out of their capital, and the stock has a P/E ratio under 14. The forward P/E ratio is 11.50, and the company’s PEG ratio is close to 1. These metrics help to indicate that shares are undervalued.
Applied Materials (AMAT)
Source: michelmond / Shutterstock.com
Applied Materials (NASDAQ:AMAT) produces chips with advanced manufacturing technology. The company specializes in creating smaller chips with more capabilities, two key goals its customers seek. Applied Materials is a primer semiconductor manufacturing and display equipment company.
Shares have gained over 50% year to date (YTD), but the company still has a reasonable P/E ratio below 20. Revenue and earnings were both roughly flat in the third quarter.
Applied Materials is incorporating artificial intelligence into the chip manufacturing process. This technological breakthrough can help the company increase efficiency, thereby producing more chips for its customers.
As AI becomes more popular, chip production is expected to boom. Applied Materials is one of the many beneficiaries, and its low P/E ratio gives it a greater margin of safety than other AI stocks.
Nvidia (NVDA)
Source: Michael Vi / Shutterstock.com
Nvidia (NASDAQ:NVDA) won over many bearish investors with its second quarter earnings report. Revenue jumped by 101% year over year (YOY), while net income surged by a whopping 843% YOY.
These numbers make it easier to overlook the company’s 110 P/E ratio. More investors are arguing that Nvidia is now undervalued, and the forward P/E ratio backs them up. Shares currently trade at a forward P/E ratio of 44.
Nvidia needs to maintain high revenue and earnings growth for the next few quarters to justify its status as an undervalued AI chip stock. Guidance for the third quarter indicates the trend is growing.
Leadership projected $16.0 billion in Q3 revenue. In the same time last year, Nvidia brought in $5.9 billion in revenue. If Nvidia fulfills its guidance, it represents 171.9% YOY revenue growth. That’s a higher growth rate than the second quarter, indicating acceleration.
Investors have many reasons to be optimistic about Nvidia over the upcoming 2-3 years. Revenue and earnings are still accelerating rapidly. These growth rates will eventually slow down, but by the time that happens, Nvidia can become extremely undervalued for investors who buy at current prices.
On this date of publication, Marc Guberti held long positions in QCOM and NVDA. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News & World Report, Benzinga, and Joy Wallet.
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The post The 3 Most Undervalued AI Chip Stocks to Buy in September 2023 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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Less demand for Apple’s (NASDAQ:AAPL) products hurts Qualcomm’s revenue and earnings. Nvidia needs to maintain high revenue and earnings growth for the next few quarters to justify its status as an undervalued AI chip stock. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires.
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Less demand for Apple’s (NASDAQ:AAPL) products hurts Qualcomm’s revenue and earnings. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Artificial intelligence has been around for a while, but tools like ChatGPT have brought this innovative technology into the spotlight. Qualcomm (QCOM) Source: photobyphm / Shutterstock.com Qualcomm (NASDAQ:QCOM) hasn’t enjoyed the same success as other AI chip beneficiaries.
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Less demand for Apple’s (NASDAQ:AAPL) products hurts Qualcomm’s revenue and earnings. Qualcomm (QCOM) Source: photobyphm / Shutterstock.com Qualcomm (NASDAQ:QCOM) hasn’t enjoyed the same success as other AI chip beneficiaries. Nvidia (NVDA) Source: Michael Vi / Shutterstock.com Nvidia (NASDAQ:NVDA) won over many bearish investors with its second quarter earnings report.
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Less demand for Apple’s (NASDAQ:AAPL) products hurts Qualcomm’s revenue and earnings. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Artificial intelligence has been around for a while, but tools like ChatGPT have brought this innovative technology into the spotlight. Qualcomm shares fell by 7% upon the news.
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13795.0
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2023-09-11 00:00:00 UTC
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US STOCKS-Wall St eyes higher open as Tesla rallies; inflation data in focus
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-eyes-higher-open-as-tesla-rallies-inflation-data-in-focus
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nan
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nan
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By Shristi Achar A and Shubham Batra
Sept 11 (Reuters) - Wall Street's main indexes were set to open higher on Monday following gains in megacaps led by Tesla, while investors awaited inflation data due later this week for clues on the U.S. Federal Reserve's interest-rate path.
Tesla TSLA.O jumped 6% in premarket trading as Morgan Stanley upgraded the EV maker to "overweight" from "equal-weight" due to potential growth in its market value because of Dojo, the firm's supercomputer.
Shares of other megacaps including Alphabet GOOGL.O, Microsoft MSFT.O and Amazon AMZN.O rose between 0.4% and 0.8%.
Apple AAPL.O climbed 1.4% after a near 6% decline last week on China's restrictions of iPhone usage for government officials, and ahead of its fall event on Sept. 12.
U.S. stocks logged weekly declines on Friday as strength in oil prices and stronger-than-expected economic data fueled concerns of sticky inflation and interest rates staying higher for longer.
Investors now await the crucial consumer and producer prices data as well as retail sales numbers due later this week.
The consumer price data on Wednesday will indicate whether the U.S. economy is on track for a so-called soft landing that could allow the Fed to bring down inflation without sharply impacting growth.
"The inflation numbers should be expected to be at least flat if not higher and most likely slightly higher as compared to the continued decline we've seen since last year, said Hugh Anderson, managing director at HighTower Advisors.
"I expect at least one more increase, but this is at best. Certainly no cuts, and I don't expect to see cuts for quite some time until we see a dramatic decline in employment."
Traders see a 93% chance of the central bank holding its interest rates at current levels in the September meeting, while their odds for a pause in November stand at 55.4%, according to CME FedWatch Tool.
Treasury yields inched up on Monday, with yields on 2-year note hovering around 4.9906%.
Fed officials have entered a blackout period, during which they usually do not make public comments, until the policy decision outcome on Sept. 20.
At 8:30 a.m. ET, Dow e-minis 1YMcv1 were up 71 points, or 0.21%, S&P 500 e-minis EScv1 were up 22.25 points, or 0.5%, and Nasdaq 100 e-minis NQcv1 were up 118.25 points, or 0.77%.
Among other stocks, Hostess BrandsTWNK.O jumped 18.4% premarket after J. M. Smucker SJM.N said it would buy the Twinkies-maker in a $5.6 billion deal .
Data over the weekend showed China's consumer prices returned to positive territory in August, while factory-gate price declines slowed, as deflation pressures ease amid signs of stabilization in the economy.
U.S.-listed shares of Chinese firms PDD Holdings PDD.O, Xpeng XPEV.N, Baidu BIDU.O rose between 1.7% and 4.2%, while the iShares China Large-Cap ETF FXI.N gained 1.5%.
Meta PlatformsMETA.O added 1.3% after a report on Sunday said the firm was working on a new, more powerful artificial-intelligence system.
(Reporting by Ankika Biswas, Shreyashi Sanyal and Shubham Batra in Bengaluru; Editing by Arun Koyyur and Vinay Dwivedi)
((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 climbed 1.4% after a near 6% decline last week on China's restrictions of iPhone usage for government officials, and ahead of its fall event on Sept. 12. By Shristi Achar A and Shubham Batra Sept 11 (Reuters) - Wall Street's main indexes were set to open higher on Monday following gains in megacaps led by Tesla, while investors awaited inflation data due later this week for clues on the U.S. Federal Reserve's interest-rate path. Tesla TSLA.O jumped 6% in premarket trading as Morgan Stanley upgraded the EV maker to "overweight" from "equal-weight" due to potential growth in its market value because of Dojo, the firm's supercomputer.
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Apple AAPL.O climbed 1.4% after a near 6% decline last week on China's restrictions of iPhone usage for government officials, and ahead of its fall event on Sept. 12. By Shristi Achar A and Shubham Batra Sept 11 (Reuters) - Wall Street's main indexes were set to open higher on Monday following gains in megacaps led by Tesla, while investors awaited inflation data due later this week for clues on the U.S. Federal Reserve's interest-rate path. The consumer price data on Wednesday will indicate whether the U.S. economy is on track for a so-called soft landing that could allow the Fed to bring down inflation without sharply impacting growth.
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Apple AAPL.O climbed 1.4% after a near 6% decline last week on China's restrictions of iPhone usage for government officials, and ahead of its fall event on Sept. 12. By Shristi Achar A and Shubham Batra Sept 11 (Reuters) - Wall Street's main indexes were set to open higher on Monday following gains in megacaps led by Tesla, while investors awaited inflation data due later this week for clues on the U.S. Federal Reserve's interest-rate path. U.S. stocks logged weekly declines on Friday as strength in oil prices and stronger-than-expected economic data fueled concerns of sticky inflation and interest rates staying higher for longer.
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Apple AAPL.O climbed 1.4% after a near 6% decline last week on China's restrictions of iPhone usage for government officials, and ahead of its fall event on Sept. 12. Investors now await the crucial consumer and producer prices data as well as retail sales numbers due later this week. "The inflation numbers should be expected to be at least flat if not higher and most likely slightly higher as compared to the continued decline we've seen since last year, said Hugh Anderson, managing director at HighTower Advisors.
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13796.0
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2023-09-11 00:00:00 UTC
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US STOCKS-Nasdaq ends sharply higher as Tesla soars on AI optimism
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AAPL
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https://www.nasdaq.com/articles/us-stocks-nasdaq-ends-sharply-higher-as-tesla-soars-on-ai-optimism-0
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nan
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nan
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By Noel Randewich and Shristi Achar A
Sept 11 (Reuters) - The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week.
Tesla TSLA.O rallied 10% after Morgan Stanley upgraded the electric car maker to "overweight" from "equal-weight," saying its Dojo supercomputer could boost the company's market value by nearly $600 billion.
Other megacaps also rose, with Amazon AMZN.Oclimbing 3.5% and Microsoft MSFT.Oadding 1.1%.
Meta PlatformsMETA.Ojumped 3.25% after a report on Sunday said the social media platform was working on a new, more powerful AI system.
Walt Disney DIS.Nadded 1.2% and Charter Communications CHTR.Orose 3.2% after they reached a dealfor Disney's programming, including ESPN, to return to the Spectrum cable service just hours ahead of the start of NFL "Monday Night Football."
Investors are looking to August consumer price index data due on Wednesday for clues about how close the Federal Reserve may be to ending its campaign of interest rate hikes. That will be followed by producer price data on Thursday.
A New York Fed survey showed Americans' overall views on inflation were little changed in August, as they predicted rising costs for homes and food, while expecting bleaker personal financial health.
"What we're seeing is a lot of positive sentiment that is really tied to bullishness around the likely CPI and PPI numbers being more in line with moderation," said Greg Bassuk, chief executive officer of AXS Investments in New York.
"As long as the inflation numbers for August come in within the band of expectations, we're going to see the Fed move away from additional rate hikes."
Wall Street logged weekly losses on Friday after a recent uptick in oil prices and stronger-than-expected economic data fueled concerns of sticky inflation and interest rates staying higher for longer.
Traders see a 93% chance that the central bank will hold its interest rates at current levels at its September meeting, while chances of a pause in November stand at 57%, according to the CME FedWatch Tool.
Fed officials have entered a blackout period, during which they usually do not make public comments, until the policy decision outcome on Sept. 20.
The S&P 500 climbed 0.67% to end at 4,487.46 points.
The Nasdaq gained 1.14% at 13,917.89 points, while Dow Jones Industrial Average rose 0.25% to 34,663.72 points.
Volume on U.S. exchanges was relatively light, with 9.3 billion shares traded, compared to an average of 10.0 billion shares over the previous 20 sessions.
Of the 11 S&P 500 sector indexes, nine rose, led by consumer discretionary .SPLRCD, up 2.77%, followed by a 1.17% gain in communication services .SPLRCL.
QualcommQCOM.O advanced 3.9% after the chipmaker signed a new deal with Apple AAPL.O to supply 5G chips to the iPhone maker until at least 2026.
Hostess BrandsTWNK.O surged 19.1% after J. M. Smucker SJM.Nsaid it would buy the Twinkies-maker in a $5.6 billion deal.
Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 1.5-to-one ratio.
The S&P 500 posted 14 new highs and 11 new lows; the Nasdaq recorded 36 new highs and 199 new lows.
(Reporting by Ankika Biswas, Shreyashi Sanyal and Shubham Batra in Bengaluru, and by Noel Randewich in Oakland, Calif; Editing by Arun Koyyur, Vinay Dwivedi and Richard Chang)
((noel.randewich@tr.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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QualcommQCOM.O advanced 3.9% after the chipmaker signed a new deal with Apple AAPL.O to supply 5G chips to the iPhone maker until at least 2026. By Noel Randewich and Shristi Achar A Sept 11 (Reuters) - The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. A New York Fed survey showed Americans' overall views on inflation were little changed in August, as they predicted rising costs for homes and food, while expecting bleaker personal financial health.
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QualcommQCOM.O advanced 3.9% after the chipmaker signed a new deal with Apple AAPL.O to supply 5G chips to the iPhone maker until at least 2026. By Noel Randewich and Shristi Achar A Sept 11 (Reuters) - The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. Investors are looking to August consumer price index data due on Wednesday for clues about how close the Federal Reserve may be to ending its campaign of interest rate hikes.
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QualcommQCOM.O advanced 3.9% after the chipmaker signed a new deal with Apple AAPL.O to supply 5G chips to the iPhone maker until at least 2026. By Noel Randewich and Shristi Achar A Sept 11 (Reuters) - The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. Investors are looking to August consumer price index data due on Wednesday for clues about how close the Federal Reserve may be to ending its campaign of interest rate hikes.
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QualcommQCOM.O advanced 3.9% after the chipmaker signed a new deal with Apple AAPL.O to supply 5G chips to the iPhone maker until at least 2026. Investors are looking to August consumer price index data due on Wednesday for clues about how close the Federal Reserve may be to ending its campaign of interest rate hikes. Of the 11 S&P 500 sector indexes, nine rose, led by consumer discretionary .SPLRCD, up 2.77%, followed by a 1.17% gain in communication services .SPLRCL.
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13797.0
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2023-09-11 00:00:00 UTC
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After Hours Most Active for Sep 11, 2023 : GNL, CLVT, ORCL, INTC, BMY, QQQ, GOOGL, AAPL, AMZN, T, WBD, PFE
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-sep-11-2023-%3A-gnl-clvt-orcl-intc-bmy-qqq-googl-aapl-amzn-t-wbd
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nan
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The NASDAQ 100 After Hours Indicator is down -13.41 to 15,448.46. The total After hours volume is currently 79,873,312 shares traded.
The following are the most active stocks for the after hours session:
Global Net Lease, Inc. (GNL) is -0.002 at $11.31, with 5,462,655 shares traded. GNL's current last sale is 83.76% of the target price of $13.5.
Clarivate Plc (CLVT) is +0.02 at $7.09, with 2,761,889 shares traded. CLVT's current last sale is 78.78% of the target price of $9.
Oracle Corporation (ORCL) is -6.69 at $120.02, with 2,669,519 shares traded. Smarter Analyst Reports: Oracle Posts Upbeat Q2 Results; Shares Jump
Intel Corporation (INTC) is +0.01 at $38.60, with 2,516,746 shares traded. INTC's current last sale is 110.29% of the target price of $35.
Bristol-Myers Squibb Company (BMY) is +0.06 at $60.87, with 2,108,133 shares traded. BMY's current last sale is 80.62% of the target price of $75.5.
Invesco QQQ Trust, Series 1 (QQQ) is +0.05 at $377.02, with 2,092,390 shares traded. This represents a 48.28% increase from its 52 Week Low.
Alphabet Inc. (GOOGL) is unchanged at $136.92, with 2,077,487 shares traded. As reported by Zacks, the current mean recommendation for GOOGL is in the "buy range".
Apple Inc. (AAPL) is -0.2 at $179.16, with 2,054,654 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Amazon.com, Inc. (AMZN) is +0.09 at $143.19, with 1,835,474 shares traded. As reported by Zacks, the current mean recommendation for AMZN is in the "buy range".
AT&T Inc. (T) is +0.01 at $14.53, with 1,791,614 shares traded. T's current last sale is 72.65% of the target price of $20.
Warner Bros. Discovery, Inc. (WBD) is unchanged at $11.58, with 1,776,407 shares traded. As reported by Zacks, the current mean recommendation for WBD is in the "buy range".
Pfizer, Inc. (PFE) is -0.01 at $33.93, with 1,688,066 shares traded., following a 52-week high recorded in today's regular session.
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 $179.16, with 2,054,654 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Smarter Analyst Reports: Oracle Posts Upbeat Q2 Results; Shares Jump
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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 $179.16, with 2,054,654 shares traded. As reported by Zacks, the current mean recommendation for GOOGL is in the "buy range".
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Apple Inc. (AAPL) is -0.2 at $179.16, with 2,054,654 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The total After hours volume is currently 79,873,312 shares traded.
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Apple Inc. (AAPL) is -0.2 at $179.16, with 2,054,654 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The NASDAQ 100 After Hours Indicator is down -13.41 to 15,448.46.
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13798.0
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2023-09-11 00:00:00 UTC
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3 Reasons Why Stocks Will BOMB in 2024
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AAPL
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https://www.nasdaq.com/articles/3-reasons-why-stocks-will-bomb-in-2024
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The stock market forecast for 2024 paints a gloomy picture. Some systemic failures in the system could lead to stocks crashing in the immediate future. It’s a combination of various macro factors that have been predicted near the end of last year that could finally begin to come to fruition.
I’ve held that we’ve been in an overconfident bear market rally since March. Despite the S&P 500 reaching its arbitrary thresholds of being in a bull market, these thresholds don’t account for today’s underlying weaknesses.
So here are three reasons why stocks will bomb next year.
Consumer Overconfidence
Source: Shutterstock
Economist David Rosenberg mentioned recently that the recession is just starting and market bottoms typically occur deep into the Fed’s easing cycle. He also points out a disconnect between investor sentiment and their actual positioning, suggesting that many are still bullishly positioned despite bearish feelings.
If investors are still positioned optimistically while the broader market crumbles beneath them, that could lead to a feedback loop where investors sell their stocks, and the market falls further. That is a common observation seen during short and long squeezes and times when the options market is priced inefficiently.
There’s also a discrepancy between the widely expected recession and the analyst community’s expectations for positive corporate earnings growth in 2023. Rosenberg believes the consensus is too optimistic and that corporate earnings will likely decline. That would then be another feedback loop.
Overall, Rosenberg predicts the S&P 500 could drop hard from its current level before the Fed pauses its current run of interest rate hikes.
A Stronger U.S. Dollar
Source: rafastockbr / Shutterstock.com
The U.S. dollar has been strengthening over the past few months, and it’s expected to strengthen significantly more in 12 months, according to Trading Economics.
A consistently rising dollar can adversely affect the earnings of multinational tech giants like Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT). The broader implications of this trend could ripple through the entire market, especially if the dollar’s strength persists.
These companies receive a significant portion of their revenues outside the United States. The currency risk means it can buy more of a foreign currency than before. So, when converting the foreign currency revenues back to U.S. dollars, the companies will receive fewer dollars than they would have if the dollar were weaker. That can lead to a decrease in reported revenues and profits.
A stronger dollar and higher interest rates also affect other economies and currencies. To prevent significant devaluation in the face of a strong dollar, other countries have also hiked their interest rates. That creates a risky situation as part of this stock market forecast, one that could lead to the fall of equities outside of the U.S., creating ripple effects elsewhere.
Market Indicators
Source: Golden Dayz / Shutterstock.com
We’ve seen the inverted yield curve, and more bearish indicators are forming. These indicators should carry more weight than the broader market rising above a historical inflection point, as seen in the S&P 500. Therefore, investors should position their portfolios against this stock market forecast and take appropriate measures to protect themselves.
China’s service activity growth slowed, and Europe’s dominant service industry contracted, hinting at a potential recession. Additionally, the U.K. reported a decrease in service activity, and Japan’s household spending has been on a decline.
All these factors and more point toward a more bearish outlook than otherwise anticipated, meaning investors could be acting with irrational exuberance. That makes this stock market forecast important for investors to pay attention to.
On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.
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It doesn’t matter if you have $500 or $5 million. Do this now.
The post 3 Reasons Why Stocks Will BOMB in 2024 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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A consistently rising dollar can adversely affect the earnings of multinational tech giants like Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT). Consumer Overconfidence Source: Shutterstock Economist David Rosenberg mentioned recently that the recession is just starting and market bottoms typically occur deep into the Fed’s easing cycle. On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
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A consistently rising dollar can adversely affect the earnings of multinational tech giants like Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT). InvestorPlace - Stock Market News, Stock Advice & Trading Tips The stock market forecast for 2024 paints a gloomy picture. There’s also a discrepancy between the widely expected recession and the analyst community’s expectations for positive corporate earnings growth in 2023.
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A consistently rising dollar can adversely affect the earnings of multinational tech giants like Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT). InvestorPlace - Stock Market News, Stock Advice & Trading Tips The stock market forecast for 2024 paints a gloomy picture. If investors are still positioned optimistically while the broader market crumbles beneath them, that could lead to a feedback loop where investors sell their stocks, and the market falls further.
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A consistently rising dollar can adversely affect the earnings of multinational tech giants like Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT). If investors are still positioned optimistically while the broader market crumbles beneath them, that could lead to a feedback loop where investors sell their stocks, and the market falls further. A stronger dollar and higher interest rates also affect other economies and currencies.
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13799.0
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2023-09-11 00:00:00 UTC
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Why Investors Should Focus on High-Quality Stocks & ETFs
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AAPL
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https://www.nasdaq.com/articles/why-investors-should-focus-on-high-quality-stocks-etfs
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nan
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nan
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(1:30) - Can The U.S. Economy Manage A Soft Landing?
(5:05) - Should Investors Be Buying Up Tech Stocks Right Now?
(9:55) - Understanding The Current Earnings Yield?
(12:15) - Tengler Equity Income ETF: TGLR
(18:35) - “The Women’s Guide To Successful Investing”
(21:30) - Episode Roundup: AVGO, ORCL, MSFT, AAPL, SBUX, TGLR, DIVO
Podcast@Zacks.com
In this episode of ETF Spotlight, I speak with Nancy Tengler, CEO and CIO at Laffer Tengler Investments, about the broader market and importance of investing in high-quality stocks.
The US economy has remained remarkably resilient despite the Fed’s most aggressive tightening campaign in decades, with a strong labor market and robust consumer spending. Inflation has continued to decline since its peak in June of 2022.
After posting its best first eight months of the year since 2003, the tech-heavy Nasdaq index struggled in the past few days. Nancy believes that investors should remain overweight tech and add on weakness. Her favorite stocks in the space include Broadcom AVGO, Microsoft MSFT and Oracle ORCL.
One of the biggest concerns for investors lately is China's economic slowdown. Nancy thinks China may surprise to the upside as pessimism appears overdone. Among the names reliant on China for growth that she likes are Starbucks SBUX and Lululemon Athletica (LULU).
The newly launched Laffer Tengler Equity Income ETF TGLR is actively managed by Nancy and invests in high-quality, large-cap stocks that have strong earnings and dividend growth potential. Its holding include Chevron CVX and Apple AAPL as well as stocks mentioned above.
The second edition of Nancy’s book, “The Women's Guide to Successful Investing” is coming out later this month. It demonstrates how women can develop the knowledge and skills required to accumulate wealth and build an investment portfolio for the long term.
Tune in to the podcast to learn more.
Make sure to be on the lookout for the next edition of the ETF Spotlight and remember to subscribe! If you have any comments or questions, please email podcast@zacks.com.
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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
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Chevron Corporation (CVX) : Free Stock Analysis Report
Starbucks Corporation (SBUX) : Free Stock Analysis Report
Oracle Corporation (ORCL) : Free Stock Analysis Report
lululemon athletica inc. (LULU) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
LAFFER (TGLR): 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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(12:15) - Tengler Equity Income ETF: TGLR (18:35) - “The Women’s Guide To Successful Investing” (21:30) - Episode Roundup: AVGO, ORCL, MSFT, AAPL, SBUX, TGLR, DIVO Podcast@Zacks.com In this episode of ETF Spotlight, I speak with Nancy Tengler, CEO and CIO at Laffer Tengler Investments, about the broader market and importance of investing in high-quality stocks. Its holding include Chevron CVX and Apple AAPL as well as stocks mentioned above. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Chevron Corporation (CVX) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report LAFFER (TGLR): ETF Research Reports To read this article on Zacks.com click here.
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(12:15) - Tengler Equity Income ETF: TGLR (18:35) - “The Women’s Guide To Successful Investing” (21:30) - Episode Roundup: AVGO, ORCL, MSFT, AAPL, SBUX, TGLR, DIVO Podcast@Zacks.com In this episode of ETF Spotlight, I speak with Nancy Tengler, CEO and CIO at Laffer Tengler Investments, about the broader market and importance of investing in high-quality stocks. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Chevron Corporation (CVX) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report LAFFER (TGLR): ETF Research Reports To read this article on Zacks.com click here. Its holding include Chevron CVX and Apple AAPL as well as stocks mentioned above.
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(12:15) - Tengler Equity Income ETF: TGLR (18:35) - “The Women’s Guide To Successful Investing” (21:30) - Episode Roundup: AVGO, ORCL, MSFT, AAPL, SBUX, TGLR, DIVO Podcast@Zacks.com In this episode of ETF Spotlight, I speak with Nancy Tengler, CEO and CIO at Laffer Tengler Investments, about the broader market and importance of investing in high-quality stocks. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Chevron Corporation (CVX) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report LAFFER (TGLR): ETF Research Reports To read this article on Zacks.com click here. Its holding include Chevron CVX and Apple AAPL as well as stocks mentioned above.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Chevron Corporation (CVX) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Oracle Corporation (ORCL) : Free Stock Analysis Report lululemon athletica inc. (LULU) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report LAFFER (TGLR): ETF Research Reports To read this article on Zacks.com click here. (12:15) - Tengler Equity Income ETF: TGLR (18:35) - “The Women’s Guide To Successful Investing” (21:30) - Episode Roundup: AVGO, ORCL, MSFT, AAPL, SBUX, TGLR, DIVO Podcast@Zacks.com In this episode of ETF Spotlight, I speak with Nancy Tengler, CEO and CIO at Laffer Tengler Investments, about the broader market and importance of investing in high-quality stocks. Its holding include Chevron CVX and Apple AAPL as well as stocks mentioned above.
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