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16000.0
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2023-05-05 00:00:00 UTC
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Take a Bite of Apple With These ETFs Post Solid Q2 Earnings
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AAPL
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https://www.nasdaq.com/articles/take-a-bite-of-apple-with-these-etfs-post-solid-q2-earnings
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Apple Inc. AAPL has joined the bullish trend of the world’s other largest mega-cap technology stocks that reported better-than-feared results and lifted market sentiments. The tech titan reported solid second-quarter fiscal 2023 results by beating estimates on both earnings and revenues, powered by a surprise boost in iPhone sales (read: ETFs to Bet on Mega-Cap Tech Stocks).
Apple shares rose 2.5% in after-market hours on elevated volume, putting ETFs having the largest allocation to the tech titan in focus. Technology Select Sector SPDR Fund XLK, Vanguard Information Technology ETF VGT, MSCI Information Technology Index ETF FTEC and iShares US Technology ETF IYW have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #2 (Buy).
Apple Earnings in Focus
Earnings per share came in at $1.52, beating the Zacks Consensus Estimate by 8 cents and flat year over year. Revenues dropped 3% year over year to $94.8 billion and edged past the estimated $93.3 billion. This marks the second consecutive quarter of revenue decline.
iPhone sales grew 2% to $51.3 billion and services revenues, comprising iTunes, Apple Music, iCloud, Apple Pay and Apple Care, soared 5.5% year over year to $20.9 billion. Both iPhone sales and service revenues hit a new record high. However, revenues from Wearables, Home and Accessories, which include Apple Watch, AirPods, HomePod, Apple TV and Beats headphones, slipped 0.6% to $8.8 billion. Mac sales dropped 31% to $7.2 billion, while iPad sales declined 13% to $6.7 billion.
The tech giant expects fiscal third-quarter revenue to be “similar” to the second quarter.
ETFs to Buy
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 64 securities in its basket, with Apple making up for a 23.8% share. Technology Select Sector SPDR Fund has key holdings in software, technology hardware, storage & peripherals, and semiconductors & semiconductor equipment (read: Fed Hike or Pause: Tech ETFs Will Likely Rule in 2023).
Technology Select Sector SPDR Fund is the most popular and heavily traded ETF, with AUM of $43 billion and an average daily volume of 7 million shares. The fund charges 10 bps in fees per year.
Vanguard Information Technology ETF (VGT)
Vanguard Information Technology ETF manages about $46 billion in its asset base and provides exposure to 364 technology stocks. It currently tracks the MSCI US Investable Market Information Technology 25/50 Index. Here, Apple accounts for a 22.7% share. Technology hardware storage & peripheral, systems software, semiconductors and application software are the top four sectors.
Vanguard Information Technology ETF has an expense ratio of 0.10%, while volume is solid at nearly 518,000 shares.
MSCI Information Technology Index ETF (FTEC)
MSCI Information Technology Index ETF is home to 361 technology stocks, with AUM of $6 billion. It follows the MSCI USA IMI Information Technology Index. Apple accounts for a 23.4% allocation.
MSCI Information Technology Index ETF has an expense ratio of 0.08%, while volume is solid at 213,000 shares a day (read: ETF Strategies to Follow Warren Buffett's Investing Wisdom).
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 139 U.S. electronics, computer software and hardware, and informational technology companies. Apple makes up 19.9% of the assets.
iShares Dow Jones US Technology ETF has AUM of $10.6 billion and charges 39 bps in fees and expenses. Volume is good as it exchanges 644,000 shares a day.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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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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Apple Inc. AAPL has joined the bullish trend of the world’s other largest mega-cap technology stocks that reported better-than-feared results and lifted market sentiments. 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. Apple shares rose 2.5% in after-market hours on elevated volume, putting ETFs having the largest allocation to the tech titan in focus.
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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. Apple Inc. AAPL has joined the bullish trend of the world’s other largest mega-cap technology stocks that reported better-than-feared results and lifted market sentiments. Technology Select Sector SPDR Fund XLK, Vanguard Information Technology ETF VGT, MSCI Information Technology Index ETF FTEC and iShares US Technology ETF IYW have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #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. Apple Inc. AAPL has joined the bullish trend of the world’s other largest mega-cap technology stocks that reported better-than-feared results and lifted market sentiments. Technology Select Sector SPDR Fund XLK, Vanguard Information Technology ETF VGT, MSCI Information Technology Index ETF FTEC and iShares US Technology ETF IYW have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #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. Apple Inc. AAPL has joined the bullish trend of the world’s other largest mega-cap technology stocks that reported better-than-feared results and lifted market sentiments. Technology Select Sector SPDR Fund XLK, Vanguard Information Technology ETF VGT, MSCI Information Technology Index ETF FTEC and iShares US Technology ETF IYW have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #2 (Buy).
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16001.0
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2023-05-05 00:00:00 UTC
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Apple Earnings: iPhone Sales Hit Record Highs
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AAPL
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https://www.nasdaq.com/articles/apple-earnings%3A-iphone-sales-hit-record-highs
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Given the challenging environment, which includes economic uncertainty, high inflation, and rising interest rates, it isn't a stretch to say people are finding ways to spend less. A recent survey of more than 9,000 consumers found that 69% of respondents planned to cut back on nonessential spending, with 15% planning to eliminate nonessential spending altogether, according to a study by PwC.
Investors have been concerned about the potential implications for Apple (NASDAQ: AAPL). After all, the company's high-end goods are considered by many to be a luxury, as the average price of an iPhone reached $988 last quarter, according to research firm CIRP.
Yet Apple's results yesterday showed the enduring demand for the iPhone, which helped backstop the company's performance amid challenging conditions.
Image source: Apple.
Demand is strong despite headwinds
For its fiscal second quarter (ended April 1), Apple generated revenue of $94.8 billion and while that was down 3% year over year, it was well ahead of analysts' consensus estimates of $92.9 billion. The key driver of the strong topline performance was iPhone revenue of $51.3 billion -- a record for the March quarter.
Apple's flagship device generated revenue that was well ahead of expectations, as Wall Street had forecast iPhone sales of $48.7 billion. The iPhone continues to be the backbone of Apple's business, accounting for 54% of total sales during the quarter.
Perhaps as importantly, strong pricing power helped Apple deliver robust profits as well, with earnings per share (EPS) of $1.52 unchanged compared to the prior-year quarter, even as revenue edged lower. This was also markedly better than the $1.43 market watchers expected.
Another headliner was services, a recurring revenue stream that Apple has been curating for the past several years -- fueled by the growing number of iPhones currently in use. Services revenue of $20.9 billion hit an all-time record, accounting for 22% of sales, also demonstrating resilience in the face of headwinds.
Demand for the Mac didn't hold up as well, with sales of $7.2 billion falling 31%. The appetite for the iPad was similarly strained, with sales of $6.7 billion down about 13%.
In typical Apple fashion, and without providing any specifics, CEO Tim Cook dropped this nugget: "We are pleased to ... have our installed base of active devices reach an all-time high." While the company was mum as to the number of devices, we know it's higher than the 2 billion active devices it announced just last quarter. Services continued to generate strong growth -- and part of that is a function of the growing number of devices fueling that demand.
Shareholders rejoice
Strong sales and cost discipline give Apple the resources to continue its tradition of shareholder-friendly practices -- which was on full display.
Apple's board of directors declared a cash dividend of $0.24 per share, an increase of 4%. This marks the eleventh consecutive increase since Apple reinstituted its payout back in 2012. The payout began at a split-adjusted rate of roughly $0.095, increasing by an impressive 153% since inception. While the yield appears low at just 0.55%, that's a function of Apple's spectacular growth (more on that in a minute).
The company isn't stopping there. Given Apple's strong operating cash flow of $28.6 billion, the board has also authorized an additional $90 billion stock buyback, which will increase the proportion of profits allocated to each share -- further enriching Apple investors.
Remarkable value
Apple continues to buck the broader market trend, with its stock down just 9% from its peak reached in early 2022. Yet considering its resilience, Apple stock is still a solid value, selling for just 28 times earnings, compared to a price-to-earnings ratio of 24 for the S&P 500.
While that's slightly more expensive, consider this: over the past decade, Apple stock has gained 929%, and generated total gains of 1,110% when factoring in the dividend. Comparing that to the S&P's total return of 207% during the same period, helps illustrate not only that Apple's premium is well-deserved, but also what a compelling buy the stock is at this price.
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Danny Vena has positions in Apple. 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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Investors have been concerned about the potential implications for Apple (NASDAQ: AAPL). Given the challenging environment, which includes economic uncertainty, high inflation, and rising interest rates, it isn't a stretch to say people are finding ways to spend less. Perhaps as importantly, strong pricing power helped Apple deliver robust profits as well, with earnings per share (EPS) of $1.52 unchanged compared to the prior-year quarter, even as revenue edged lower.
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Investors have been concerned about the potential implications for Apple (NASDAQ: AAPL). Services revenue of $20.9 billion hit an all-time record, accounting for 22% of sales, also demonstrating resilience in the face of headwinds. Given Apple's strong operating cash flow of $28.6 billion, the board has also authorized an additional $90 billion stock buyback, which will increase the proportion of profits allocated to each share -- further enriching Apple investors.
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Investors have been concerned about the potential implications for Apple (NASDAQ: AAPL). Demand is strong despite headwinds For its fiscal second quarter (ended April 1), Apple generated revenue of $94.8 billion and while that was down 3% year over year, it was well ahead of analysts' consensus estimates of $92.9 billion. Apple's flagship device generated revenue that was well ahead of expectations, as Wall Street had forecast iPhone sales of $48.7 billion.
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Investors have been concerned about the potential implications for Apple (NASDAQ: AAPL). The company isn't stopping there. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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16002.0
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2023-05-05 00:00:00 UTC
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US STOCKS SNAPSHOT-Wall Street opens higher as investors cheer Apple earnings
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AAPL
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https://www.nasdaq.com/articles/us-stocks-snapshot-wall-street-opens-higher-as-investors-cheer-apple-earnings
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nan
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May 5 (Reuters) - U.S. stocks opened higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve.
The Dow Jones Industrial Average .DJI rose 120.81 points, or 0.36%, at the open to 33,248.55. The S&P 500 .SPX opened higher by 23.51 points, or 0.58%, at 4,084.73, while the Nasdaq Composite .IXIC gained 106.63 points, or 0.89%, to 12,073.03 at the opening bell.
(Reporting by Sruthi Shankar in Bengaluru Editing by Vinay Dwivedi)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
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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May 5 (Reuters) - U.S. stocks opened higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve. The Dow Jones Industrial Average .DJI rose 120.81 points, or 0.36%, at the open to 33,248.55. (Reporting by Sruthi Shankar in Bengaluru Editing by Vinay Dwivedi) ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;)) 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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May 5 (Reuters) - U.S. stocks opened higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve. The S&P 500 .SPX opened higher by 23.51 points, or 0.58%, at 4,084.73, while the Nasdaq Composite .IXIC gained 106.63 points, or 0.89%, to 12,073.03 at the opening bell. (Reporting by Sruthi Shankar in Bengaluru Editing by Vinay Dwivedi) ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;)) 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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May 5 (Reuters) - U.S. stocks opened higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve. The S&P 500 .SPX opened higher by 23.51 points, or 0.58%, at 4,084.73, while the Nasdaq Composite .IXIC gained 106.63 points, or 0.89%, to 12,073.03 at the opening bell. (Reporting by Sruthi Shankar in Bengaluru Editing by Vinay Dwivedi) ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;)) 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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May 5 (Reuters) - U.S. stocks opened higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve. The Dow Jones Industrial Average .DJI rose 120.81 points, or 0.36%, at the open to 33,248.55. The S&P 500 .SPX opened higher by 23.51 points, or 0.58%, at 4,084.73, while the Nasdaq Composite .IXIC gained 106.63 points, or 0.89%, to 12,073.03 at the opening bell.
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16003.0
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2023-05-05 00:00:00 UTC
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US STOCKS-Wall Street eyes higher open as investors cheer Apple earnings
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-eyes-higher-open-as-investors-cheer-apple-earnings
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nan
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By Ankika Biswas and Sruthi Shankar
May 5 (Reuters) - U.S. stocks were set to open higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve.
Apple Inc AAPL.O gained 2.7% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets.
Investors appeared to take in stride data that showed U.S. employers boosted hiring in April while raising wages, pointing to sustained labor market strength that could prompt the Federal Reserve to keep interest rates higher for some time.
The Labor Department's report showed non-farm payrolls increased by 253,000 last month, higher than economists' expectations of 180,000.
Meanwhile, wages increased 4.4% year-on-year in April after climbing 4.3% in March, and the unemployment rate fell to 3.4%.
"This is a strong report and shows that the labor market is resilient. It bails out the Fed for raising another quarter point," said Peter Cardillo, chief market economist at Spartan Capital Securities.
"It's been a tough week for the stock market, the regional banking problems have raised the fear factor, but Apple earnings came in strong. Stocks are coming up from near-term oversold condition."
Traders are currently betting the Fed will start easing the policy rate by September, according to CME Group's FedWatch Tool, compared with July before the release of the data.
The Fed raised its benchmark interest rate by 25 basis points as expected on Wednesday, but Chair Jerome Powell noted it was too early to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
Wall Street fell on Thursday after PacWest Bancorp's PACW.Omove to explore strategic options deepened concerns about the health of regional banks, pulling down shares of peers and big banks such as JPMorgan Chase JPM.N and Wells Fargo & Co WFC.N.
PacWest rebounded on Friday with a 25.0% gain, while Western Alliance Bancorp WAL.N bounced back 21.8%. Western Alliance on Thursday denied a report that it was exploring a potential sale.
The S&P 500 has gained nearly 6% so far this year, while the S&P 500 Banks index .SPXBK and KBW Regional Banking index .KRX have lost 17% and 31%, respectively.
Following upbeat results from megacap companies, analysts expect profits for S&P 500 companies in the first quarter to decline 0.9% from a year earlier, according to Refinitiv data, compared with a 5.1% drop expected at the start of April.
At 8:50 a.m. ET, Dow e-minis 1YMcv1 were up 222 points, or 0.67%, S&P 500 e-minis EScv1 were up 33.5 points, or 0.82%, and Nasdaq 100 e-minis NQcv1 were up 87 points, or 0.67%.
Used-car retailer Carvana Co CVNA.N jumped 47.1% as it expects to post a profit in the current quarter and plans to further bring down excess used-car inventory.
Lyft Inc LYFT.O slumped 15.4% as the ride-hailing company's strategy to claw back market share from rival Uber Technologies Inc UBER.N with lower fares stoked concerns about a hit to its profit margins.
S&P 500 vs banks and techhttps://tmsnrt.rs/3LXg7wn
(Reporting by Ankika Biswas and Sruthi Shankar in Bengaluru; Additional reporting by Stephen Culp in New York; Editing by Shounak Dasgupta and Subhranshu Sahu)
((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 Inc AAPL.O gained 2.7% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets. By Ankika Biswas and Sruthi Shankar May 5 (Reuters) - U.S. stocks were set to open higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve. Investors appeared to take in stride data that showed U.S. employers boosted hiring in April while raising wages, pointing to sustained labor market strength that could prompt the Federal Reserve to keep interest rates higher for some time.
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Apple Inc AAPL.O gained 2.7% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets. By Ankika Biswas and Sruthi Shankar May 5 (Reuters) - U.S. stocks were set to open higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve. Investors appeared to take in stride data that showed U.S. employers boosted hiring in April while raising wages, pointing to sustained labor market strength that could prompt the Federal Reserve to keep interest rates higher for some time.
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Apple Inc AAPL.O gained 2.7% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets. By Ankika Biswas and Sruthi Shankar May 5 (Reuters) - U.S. stocks were set to open higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve. Investors appeared to take in stride data that showed U.S. employers boosted hiring in April while raising wages, pointing to sustained labor market strength that could prompt the Federal Reserve to keep interest rates higher for some time.
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Apple Inc AAPL.O gained 2.7% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets. By Ankika Biswas and Sruthi Shankar May 5 (Reuters) - U.S. stocks were set to open higher on Friday as Apple's upbeat results underscored resilience in corporate earnings, while a stronger-than-expected jobs report tempered expectations of interest rate cuts from the Federal Reserve. "This is a strong report and shows that the labor market is resilient.
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16004.0
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2023-05-05 00:00:00 UTC
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Daily Markets: Jobs Beat Expectations As Economy Slows
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AAPL
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https://www.nasdaq.com/articles/daily-markets-apple-helps-lift-market-mood-ahead-of-jobs-report
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nan
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nan
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Today’s Big Picture
Asia-Pacific equity markets finished the day mixed. China’s Shanghai Composite declined 0.48% and India’s SENSEX fell 1.13% on weakness in banking names. Taiwan’s TAIEX gained 0.11%, Australia’s ASX All Ordinaries rose 0.34%, and Hong Kong’s Hang Seng closed 0.50% higher on a mixed day for sectors that tipped into positive territory led by Technology Services names. Japan’s markets remain closed as the country closes out Golden Week with the celebration of Children’s Day which is meant to honor children for their individual strengths. While not associated with Golden Week, Korea’s markets are also closed to mark their version of Children’s Day. Major European markets are higher in midday trading and U.S. futures point to a positive open.
Last night’s March quarter earnings reports, especially Apple’s (AAPL), are lifting equity futures this morning. Once again, however, what we learn before the market open will influence not only how equities start the day but also expectations for the economy and future Fed policy. Following comments this week from Fed Chair Powell, all eyes were on the April Employment Report, published at 8:30 AM ET. Job growth totaled 253,000 for the month, beating estimates of 180,000, according to the Bureau of Labor Statistics. The unemployment rate, at 3.4% (versus expectations of 3.6%), ties for the lowest level since 1969. Wages also rose more than anticipated -- average hourly earnings went up 0.5% versus expectations of 0.3%.
Data Download
International Economy
The Caixin China General Services PMI declined to 56.4 in April from March’s 28-month high of 57.8, marking the fourth straight month of expansion as the post-COVID recovery continued. Input cost inflation accelerated to a 12-month high due to elevated staffing costs and higher prices for raw materials and office supplies.
Retail sales in the Euro Area declined 1.2% month-over-month in March of 2023, following a 0.2% drop in February and much worse than forecasts of a 0.1% fall, as high prices, especially for food, and rising borrowing costs weighed on consumers' affordability. On a YoY basis, retail sales fell 3.8% in March, the biggest decline since January of 2021, and worse than forecasts of a 3.1% fall.
Domestic Economy
As we noted above, at 8:30 AM ET the April Employment Report will be published and then at 3 PM ET today the March Consumer Credit report will be released. In that credit report, we’ll be looking to see if consumers continued to pay down debt levels or re-embraced the use of credit cards during the month.
Markets
The fallout from Wednesday’s post-Fed decision comments from Chair Powell continued as all major equity indexes closed lower. The Nasdaq Composite declined 0.49%, the S&P 500 fell 0.72%, the Dow dropped 0.86% and the Russell 2000 ended the day down 1.18%. Except for Utilities (0.76%) and Real Estate (0.93%), sectors were lower with the biggest hits going to Communication Services (-1.61%) and Financials (-1.28%). Traders bid up shares of Ball Corp (BALL) 13.39% as the aerospace segment outshone packaging and the company announced it is still on track to achieve its long-term EPS growth goal of 10-15% even in the face of any Russia divestitures.
Here’s how the major market indicators stack up year-to-date:
Dow Jones Industrial Average: -0.06%
S&P 500: 5.77%
Nasdaq Composite: 14.33%
Russell 2000: -2.41%
Bitcoin (BTC-USD): 73.73%
Ether (ETH-USD): 56.67%
Stocks to Watch
Before U.S. equity markets begin trading today, AMC Entertainment (AMC), Cboe Global Markets (CBOE), CNH Industrial (CNHI), Construction Partners (ROAD), and Warner Bros. Discovery (WBD) are expected to report their quarterly results.
March quarter results at Apple topped revenue and EPs expectations led by stronger than expected iPhone results, which offset modest misses relative to consensus forecasts for its Mac, iPad, and Services businesses. Apple CEO Tim Cook shared iPhone sales accelerated due to China reopening as factory issues eased. Exiting the quarter, the company had more than 975 million paid subscriptions across its Services business, up 150 million YoY and nearly double three years ago. The company’s Board authorized an additional $90 billion for share repurchases as well as a 4% increase in Apple’s quarterly dividend to $0.24 per share. The company expects June quarter revenue performance to be similar to the March quarter with foreign exchange a headwind of roughly 4 percentage points.
March quarter EPS and revenue reported by Block (SQ) topped consensus expectations spurred by the 15% YoY increase in transaction-based revenue to $1.42 billion. During the quarter, the company processed $51.12 billion in gross payment volume (GPV), up 17% YoY. The company’s Cash App generated $3.27 billion of revenue and there were 20 million monthly Cash App Card activities during the quarter, up 34% YoY. Cash App Business GPV was $4.90 billion, up 24% YoY.
Booking Holdings (BKNG) reported EPS of 11.60 for its March quarter, well ahead of the $10.79 consensus. Revenue for the quarter soared 40.2% YoY, coming in modestly ahead of the consensus forecast. Gross travel bookings were $39.4 billion, an increase of 44% YoY, and room nights booked increased 38% YoY. During its earnings conference call, the company shared that the quarter’s strength was the result of continued strength in leisure travel demand and from a lengthening booking window, particularly in Europe and the U.S.
Lyft (LYFT) reported positive EPS for the March quarter, far better than the expected loss, while revenue for the period matched the consensus forecast of ~$ 1 billion. Adjusted EBITDA for the quarter of $22.7 million exceeded the top-end of the guidance range of $5 to $15 million. During the three-month period, Active Riders rose 9.8% YoY to 19.5 million, and Revenue per Active Rider moved up 4% to $51.17. However, Lyft issued downside guidance for the current quarter with revenue between $1.00-$1.02 billion vs. the $1.08 billion consensus, with Adjusted EBITDA between $20-$30 million.
Carvana (CVNA) reported a smaller than expected March quarter loss even as revenue fell 25.5% YoY to largely match the consensus forecast. Retail units sold totaled 79,240, a decrease of 25% but total gross profit per unit was $4,303, an increase of $1,470. Carvana expects to achieve positive Adjusted EBITDA in the current quarter “as long as the environment remains stable.” The company expects a reduction in retail units sold in Q2 2023 compared to Q1 2023 but further progress on profitability initiatives, and seasonal tailwinds abate.
IPOs
Readers looking to dig more into the upcoming IPO calendar should visit Nasdaq’s Latest & Upcoming IPOs page.
After Today’s Market Close
After running the economic data and earnings gauntlet this week, no companies are slated to report their quarterly results after equities stop trading. Those looking for more on which companies are reporting when should head on over to Nasdaq’s Earnings Calendar.
On the Horizon
Monday, May 8
Germany: Industrial Production - March
US: Wholesale Inventories – March
Tuesday, May 9
Japan: Household Spending - March
China: Imports/Exports - April
US: NFIB Small Business Optimism Index – April
Wednesday, May 10
Germany: Consumer Price Index – April
US: Consumer Price Index – April
Thursday, May 11
China: Consumer Price Index, Producer Price Index – April
Japan: Economy Watchers Current Index – April
UK: Bank of England Interest Rate Decision
US: Producer Price Index – April
Friday, May 12
UK: GDP – 1Q 2023
UK: Industrial Production, Manufacturing Production - March
US: Import/Export Prices – April
US: The University of Michigan Consumer Sentiment Index – Preliminary May
Thought for the Day
“Life must be understood backward. But it must be lived forward” – Søren Kierkegaard
Disclosures
CNH Industrial (CNHI), Ball Corp (BALL) are constituents of the Foxberry Tematica Research Sustainable Future of Food Index
Block (SQ) is a constituent of the Tematica BITA Digital Infrastructure & Connectivity Index
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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Last night’s March quarter earnings reports, especially Apple’s (AAPL), are lifting equity futures this morning. But it must be lived forward” – Søren Kierkegaard Disclosures CNH Industrial (CNHI), Ball Corp (BALL) are constituents of the Foxberry Tematica Research Sustainable Future of Food Index Block (SQ) is a constituent of the Tematica BITA Digital Infrastructure & Connectivity Index 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. Taiwan’s TAIEX gained 0.11%, Australia’s ASX All Ordinaries rose 0.34%, and Hong Kong’s Hang Seng closed 0.50% higher on a mixed day for sectors that tipped into positive territory led by Technology Services names.
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But it must be lived forward” – Søren Kierkegaard Disclosures CNH Industrial (CNHI), Ball Corp (BALL) are constituents of the Foxberry Tematica Research Sustainable Future of Food Index Block (SQ) is a constituent of the Tematica BITA Digital Infrastructure & Connectivity Index 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. Last night’s March quarter earnings reports, especially Apple’s (AAPL), are lifting equity futures this morning. Nasdaq Composite: 14.33% Russell 2000: -2.41% Bitcoin (BTC-USD): 73.73% Ether (ETH-USD): 56.67% Stocks to Watch Before U.S. equity markets begin trading today, AMC Entertainment (AMC), Cboe Global Markets (CBOE), CNH Industrial (CNHI), Construction Partners (ROAD), and Warner Bros.
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Last night’s March quarter earnings reports, especially Apple’s (AAPL), are lifting equity futures this morning. But it must be lived forward” – Søren Kierkegaard Disclosures CNH Industrial (CNHI), Ball Corp (BALL) are constituents of the Foxberry Tematica Research Sustainable Future of Food Index Block (SQ) is a constituent of the Tematica BITA Digital Infrastructure & Connectivity Index 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. March quarter EPS and revenue reported by Block (SQ) topped consensus expectations spurred by the 15% YoY increase in transaction-based revenue to $1.42 billion.
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Last night’s March quarter earnings reports, especially Apple’s (AAPL), are lifting equity futures this morning. But it must be lived forward” – Søren Kierkegaard Disclosures CNH Industrial (CNHI), Ball Corp (BALL) are constituents of the Foxberry Tematica Research Sustainable Future of Food Index Block (SQ) is a constituent of the Tematica BITA Digital Infrastructure & Connectivity Index 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. March quarter EPS and revenue reported by Block (SQ) topped consensus expectations spurred by the 15% YoY increase in transaction-based revenue to $1.42 billion.
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16005.0
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2023-05-05 00:00:00 UTC
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CANADA STOCKS-TSX futures track Wall Street cheer; oil prices support
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AAPL
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https://www.nasdaq.com/articles/canada-stocks-tsx-futures-track-wall-street-cheer-oil-prices-support
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nan
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nan
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May 5 (Reuters) - Futures for Canada's main stock index rose on Friday as crude prices firmed and investors tracked upbeat sentiment on Wall Street, outweighing spillover worries from the U.S. regional bank sell-off.
June futures on the S&P/TSX index SXFc1 were up 0.7% at 7:02 a.m. ET.
U.S. stock index futures rose as upbeat results from Apple Inc AAPL.O underscored corporate earnings resilience despite a slowing U.S. economy. .N
Oil prices gained after four sessions of losses, with expectations of potential supply cuts at the OPEC+ producer group's next meeting in June providing some price support. O/R
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed at its four-week low on Thursday, as pressure on U.S. bank stocks spilled over to the financials sector.
Investors will watch out for domestic employment change and unemployment data for April due at 8:30 a.m. ET, hoping for more clues on the impact of monetary tightening.
In company news, Canada's federal environment ministry opened a formal investigation into a months-long tailings leak at Imperial Oil Ltd'sIMO.TO Kearl oil sands mine in northern Alberta, signalling a potential prosecution.
Magna International IncMG.TO slightly raised its full-year sales forecast as the Canadian auto parts maker expects light vehicle production to improve in its two biggest markets of North America and Europe.
COMMODITIES AT 7:02 a.m. ET
Gold futures GCc2: $2,046.6; -0.44% GOL/
US crude CLc1: $70.32; +2.57% O/R
Brent crude LCOc1: $74.27; +2.44% O/R
U.S. ECONOMIC DATA DUE ON FRIDAY
Non-farm payrolls data for April at 8:30 a.m. ET
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1 = 1.3500 Canadian dollars)
(Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi Majumdar)
((Shristi.AcharA@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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U.S. stock index futures rose as upbeat results from Apple Inc AAPL.O underscored corporate earnings resilience despite a slowing U.S. economy. May 5 (Reuters) - Futures for Canada's main stock index rose on Friday as crude prices firmed and investors tracked upbeat sentiment on Wall Street, outweighing spillover worries from the U.S. regional bank sell-off. Magna International IncMG.TO slightly raised its full-year sales forecast as the Canadian auto parts maker expects light vehicle production to improve in its two biggest markets of North America and Europe.
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U.S. stock index futures rose as upbeat results from Apple Inc AAPL.O underscored corporate earnings resilience despite a slowing U.S. economy. May 5 (Reuters) - Futures for Canada's main stock index rose on Friday as crude prices firmed and investors tracked upbeat sentiment on Wall Street, outweighing spillover worries from the U.S. regional bank sell-off. TSX market report .TO Canadian dollar and bonds report CAD/CA/ Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA Canadian markets directory CANADA ($1 = 1.3500 Canadian dollars) (Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi Majumdar) ((Shristi.AcharA@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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U.S. stock index futures rose as upbeat results from Apple Inc AAPL.O underscored corporate earnings resilience despite a slowing U.S. economy. May 5 (Reuters) - Futures for Canada's main stock index rose on Friday as crude prices firmed and investors tracked upbeat sentiment on Wall Street, outweighing spillover worries from the U.S. regional bank sell-off. ET, hoping for more clues on the impact of monetary tightening.
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U.S. stock index futures rose as upbeat results from Apple Inc AAPL.O underscored corporate earnings resilience despite a slowing U.S. economy. May 5 (Reuters) - Futures for Canada's main stock index rose on Friday as crude prices firmed and investors tracked upbeat sentiment on Wall Street, outweighing spillover worries from the U.S. regional bank sell-off. June futures on the S&P/TSX index SXFc1 were up 0.7% at 7:02 a.m.
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16006.0
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2023-05-05 00:00:00 UTC
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US STOCKS-Futures climb on Apple earnings cheer, key jobs report on tap
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-climb-on-apple-earnings-cheer-key-jobs-report-on-tap
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Futures up: Dow 0.30%, S&P 0.47%, Nasdaq 0.57%
May 5 (Reuters) - U.S. stock index futures rose on Friday as upbeat results from Apple underscored corporate earnings resilience despite a slowing U.S. economy, while investors awaited a key monthly employment report due later in the day.
Apple Inc AAPL.O gained 2.2% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets.
The company's executives also noted that gross profit margins for the current quarter would be better than forecast on improving supply-chain issues.
With a handful of major technology and growth companies reporting better-than-expected earnings, analysts expect profits for S&P 500 companies in the first quarter to decline 0.9% from a year earlier, according to Refinitiv data, compared with a 5.1% drop expected at the start of April.
"Thanks to their (Apple and Microsoft) sizeable balance sheets, and falling yields, big tech companies remain a refuge for equity investors, which certainly explains why the S&P 500 has been relatively resilient to the bank turmoil," Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said.
"What's risky is that if winds change direction for Big Tech, we could rapidly see gains in S&P 500 crumble."
The S&P 500 has gained nearly 6% so far this year, while the S&P 500 Banks index .SPXBK and KBW Regional Banking index .KRX have lost 17% and 31%, respectively.
Wall Street fell on Thursday after PacWest Bancorp's PACW.Omove to explore strategic options deepened concerns about the health of regional banks, pulling down shares of peers and big banks such as JPMorgan Chase JPM.N and Wells Fargo & Co WFC.N.
Wall Street executives and bank analysts called for regulators to quickly provide more protection for bank deposits and consider other backstops, arguing only an intervention could stop the crisis.
PacWest rebounded on Friday with an 11.7% gain, while Western Alliance Bancorp WAL.N bounced back 10.4%. Western Alliance on Thursday denied a report that it was exploring a potential sale.
U.S. interest rate futures are factoring in a 50% chance of the Federal Reserve cutting rates by its July meeting, according to CME Group's FedWatch Tool.
On Wednesday, the Fed raised its benchmark interest rate by 25 basis points, with Chair Jerome Powell noting it was too early to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
Investors will keep a close watch on the non-farm payrolls report for April for more clues on the state of the labor market.
At 5:34 a.m. ET, Dow e-minis 1YMcv1 were up 101 points, or 0.30%, S&P 500 e-minis EScv1 were up 19 points, or 0.47%, and Nasdaq 100 e-minis NQcv1 were up 74 points, or 0.57%.
Used-car retailer Carvana Co CVNA.N jumped 33.6% as it expects to post a profit in the current quarter and plans to further bring down excess used-car inventory.
DoorDash Inc DASH.N rose 3.7% as the food delivery company raised its annual core profit forecast after beating quarterly revenue expectations.
S&P 500 vs banks and techhttps://tmsnrt.rs/3LXg7wn
(Reporting by Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta)
((Ankika.Biswas@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc AAPL.O gained 2.2% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Futures up: Dow 0.30%, S&P 0.47%, Nasdaq 0.57% May 5 (Reuters) - U.S. stock index futures rose on Friday as upbeat results from Apple underscored corporate earnings resilience despite a slowing U.S. economy, while investors awaited a key monthly employment report due later in the day. On Wednesday, the Fed raised its benchmark interest rate by 25 basis points, with Chair Jerome Powell noting it was too early to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
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Apple Inc AAPL.O gained 2.2% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Futures up: Dow 0.30%, S&P 0.47%, Nasdaq 0.57% May 5 (Reuters) - U.S. stock index futures rose on Friday as upbeat results from Apple underscored corporate earnings resilience despite a slowing U.S. economy, while investors awaited a key monthly employment report due later in the day. With a handful of major technology and growth companies reporting better-than-expected earnings, analysts expect profits for S&P 500 companies in the first quarter to decline 0.9% from a year earlier, according to Refinitiv data, compared with a 5.1% drop expected at the start of April.
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Apple Inc AAPL.O gained 2.2% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Futures up: Dow 0.30%, S&P 0.47%, Nasdaq 0.57% May 5 (Reuters) - U.S. stock index futures rose on Friday as upbeat results from Apple underscored corporate earnings resilience despite a slowing U.S. economy, while investors awaited a key monthly employment report due later in the day. With a handful of major technology and growth companies reporting better-than-expected earnings, analysts expect profits for S&P 500 companies in the first quarter to decline 0.9% from a year earlier, according to Refinitiv data, compared with a 5.1% drop expected at the start of April.
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Apple Inc AAPL.O gained 2.2% in premarket trading on better-than-expected results, helped by strong iPhone sales and notable inroads in India and other newer markets. The company's executives also noted that gross profit margins for the current quarter would be better than forecast on improving supply-chain issues. Wall Street fell on Thursday after PacWest Bancorp's PACW.Omove to explore strategic options deepened concerns about the health of regional banks, pulling down shares of peers and big banks such as JPMorgan Chase JPM.N and Wells Fargo & Co WFC.N.
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16007.0
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2023-05-05 00:00:00 UTC
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Morgan Stanley Maintains Apple (AAPL) Overweight Recommendation
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AAPL
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https://www.nasdaq.com/articles/morgan-stanley-maintains-apple-aapl-overweight-recommendation
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nan
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nan
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Fintel reports that on May 5, 2023, Morgan Stanley maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation.
Analyst Price Forecast Suggests 4.90% Upside
As of April 24, 2023, the average one-year price target for Apple is 173.91. The forecasts range from a low of 117.16 to a high of $215.25. The average price target represents an increase of 4.90% from its latest reported closing price of 165.79.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 413,641MM, an increase of 7.41%. 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 6413 funds or institutions reporting positions in Apple. This is an increase of 205 owner(s) or 3.30% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. Total shares owned by institutions increased in the last three months by 0.05% to 10,098,362K shares.
The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 895,136K shares representing 5.66% ownership of the company. In it's prior filing, the firm reported owning 894,802K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in AAPL by 6.86% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 459,387K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 455,109K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in AAPL by 12.36% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 345,686K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 342,454K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in AAPL by 12.57% over the last quarter.
Geode Capital Management holds 282,750K shares representing 1.79% ownership of the company. In it's prior filing, the firm reported owning 279,759K shares, representing an increase of 1.06%. The firm decreased its portfolio allocation in AAPL by 12.15% over the last quarter.
Price T Rowe Associates holds 226,281K shares representing 1.43% ownership of the company. In it's prior filing, the firm reported owning 224,864K shares, representing an increase of 0.63%. The firm decreased its portfolio allocation in AAPL by 7.53% 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.
See all Apple regulatory filings.
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 May 5, 2023, Morgan Stanley maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
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Fintel reports that on May 5, 2023, Morgan Stanley maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
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Fintel reports that on May 5, 2023, Morgan Stanley maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
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Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. Fintel reports that on May 5, 2023, Morgan Stanley maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
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16008.0
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2023-05-05 00:00:00 UTC
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Atlantic Equities Maintains Apple (AAPL) Overweight Recommendation
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AAPL
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https://www.nasdaq.com/articles/atlantic-equities-maintains-apple-aapl-overweight-recommendation
|
nan
|
nan
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Fintel reports that on May 5, 2023, Atlantic Equities maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation.
Analyst Price Forecast Suggests 4.90% Upside
As of April 24, 2023, the average one-year price target for Apple is 173.91. The forecasts range from a low of 117.16 to a high of $215.25. The average price target represents an increase of 4.90% from its latest reported closing price of 165.79.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 413,641MM, an increase of 7.41%. 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 6413 funds or institutions reporting positions in Apple. This is an increase of 205 owner(s) or 3.30% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. Total shares owned by institutions increased in the last three months by 0.05% to 10,098,362K shares.
The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 895,136K shares representing 5.66% ownership of the company. In it's prior filing, the firm reported owning 894,802K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in AAPL by 6.86% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 459,387K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 455,109K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in AAPL by 12.36% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 345,686K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 342,454K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in AAPL by 12.57% over the last quarter.
Geode Capital Management holds 282,750K shares representing 1.79% ownership of the company. In it's prior filing, the firm reported owning 279,759K shares, representing an increase of 1.06%. The firm decreased its portfolio allocation in AAPL by 12.15% over the last quarter.
Price T Rowe Associates holds 226,281K shares representing 1.43% ownership of the company. In it's prior filing, the firm reported owning 224,864K shares, representing an increase of 0.63%. The firm decreased its portfolio allocation in AAPL by 7.53% 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.
See all Apple regulatory filings.
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 May 5, 2023, Atlantic Equities maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
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Fintel reports that on May 5, 2023, Atlantic Equities maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
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Fintel reports that on May 5, 2023, Atlantic Equities maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
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Average portfolio weight of all funds dedicated to AAPL is 3.10%, an increase of 1.71%. Fintel reports that on May 5, 2023, Atlantic Equities maintained coverage of Apple (NASDAQ:AAPL) with a Overweight recommendation. The put/call ratio of AAPL is 0.98, indicating a bullish outlook.
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16009.0
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2023-05-05 00:00:00 UTC
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Foxconn's April sales fall 12% on slowing smartphone business
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AAPL
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https://www.nasdaq.com/articles/foxconns-april-sales-fall-12-on-slowing-smartphone-business
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nan
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nan
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Adds company comment, detail
TAIPEI, May 5 (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker and major iPhone assembler, said on Friday revenue in April fell 11.77% year-on-year due to weakness in smart consumer electronics, and expected business to drop this quarter.
Foxconn said revenue last month reached T$429.2 billion ($14 billion), in line with the company's own expectations.
For smart consumer electronics products, which include smartphones and are the company's main business driver, revenue in April declined as it entered the "traditional slow season", the company said in a statement, without elaborating.
Business in the second quarter is expected to decline due to a high base last year and "the seasonal off-peak period" amid a transition between old and new products, it said.
The first half of the year is traditionally slower for Taiwan tech manufacturers as major electronics vendors including Apple AAPL.O launch new products near the year-end holiday season.
Apple results for the quarter ended April 1 beat expectations on Thursday, thanks to better-than-expected iPhone sales and inroads in India and other newer markets.
Foxconn will report first quarter earnings on May 11 when it will also give an update on its outlook for the full year.
The company in March predicted revenue for the full year to be flat, with weak demand for consumer electronics offset by growth in computing, cloud, networking and component products.
Foxconn shares have risen 5.1% so far this year, lagging the broader Taiwan market .TWII, which is up 10.5%.
($1 = 30.6310 Taiwan dollars)
(Reporting by Yimou Lee and Sarah Wu Editing by Toby Chopra and Mark Potter)
((yimou.lee@thomsonreuters.com; +886-2-8729-5122;))
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 first half of the year is traditionally slower for Taiwan tech manufacturers as major electronics vendors including Apple AAPL.O launch new products near the year-end holiday season. Apple results for the quarter ended April 1 beat expectations on Thursday, thanks to better-than-expected iPhone sales and inroads in India and other newer markets. The company in March predicted revenue for the full year to be flat, with weak demand for consumer electronics offset by growth in computing, cloud, networking and component products.
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The first half of the year is traditionally slower for Taiwan tech manufacturers as major electronics vendors including Apple AAPL.O launch new products near the year-end holiday season. Adds company comment, detail TAIPEI, May 5 (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker and major iPhone assembler, said on Friday revenue in April fell 11.77% year-on-year due to weakness in smart consumer electronics, and expected business to drop this quarter. For smart consumer electronics products, which include smartphones and are the company's main business driver, revenue in April declined as it entered the "traditional slow season", the company said in a statement, without elaborating.
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The first half of the year is traditionally slower for Taiwan tech manufacturers as major electronics vendors including Apple AAPL.O launch new products near the year-end holiday season. Adds company comment, detail TAIPEI, May 5 (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker and major iPhone assembler, said on Friday revenue in April fell 11.77% year-on-year due to weakness in smart consumer electronics, and expected business to drop this quarter. For smart consumer electronics products, which include smartphones and are the company's main business driver, revenue in April declined as it entered the "traditional slow season", the company said in a statement, without elaborating.
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The first half of the year is traditionally slower for Taiwan tech manufacturers as major electronics vendors including Apple AAPL.O launch new products near the year-end holiday season. Foxconn said revenue last month reached T$429.2 billion ($14 billion), in line with the company's own expectations. For smart consumer electronics products, which include smartphones and are the company's main business driver, revenue in April declined as it entered the "traditional slow season", the company said in a statement, without elaborating.
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16010.0
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2023-05-05 00:00:00 UTC
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MORNING BID AMERICAS-Apple comforts as payrolls loom
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AAPL
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https://www.nasdaq.com/articles/morning-bid-americas-apple-comforts-as-payrolls-loom
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nan
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nan
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A look at the day ahead in U.S. and global markets from Mike Dolan
Big Tech delivered again, as another earnings beat from the world's biggest firm soothed investor nerves over U.S. regional banks and the debt ceiling row - and Friday's release of the April employment report.
AppleAAPL.O, the world's largest company by market capitalisation, surprised investors after the bell on Thursday with a rise in iPhone sales even in a slumping global smartphone market - sending its stock up 2% in pre-market trading.
IPhone sales rose 1.5% to $51.3 billion - bamboozling forecasts for a 3.3% drop and contrasting with the 13% drop in overall global smartphone shipments during the first quarter.
Apple upped its dividend and authorized another $90 billion share repurchase program, same as a year ago.
Apple's stock has outperformed most of Wall Street in 2023, up 28% year-to-date. And its latest beat follows similarly above-forecast profit readouts from the 10 firms that make up the FANG-plus .NYFANG grouping of leading digital and technology firms.
After a torrid 2022, that narrow index is up 35% so far this year - far outstripping the Nasdaq 100's .NDX 18% gain and accounting for the bulk of the more modest 6% rise in the S&P500 <.S&P500>.
And after three hefty daily retreats in a row for the S&P500 this week, futures are up 0.4% ahead of Friday's open.
Even battered regional bank stocks showed some sign of settling, with the latest names in the crosshairs - PacWest, Western Alliance and First Horizon - up between 7% and 15% before Friday's open after another day of eye-watering losses.
Attention has now shifted to what extent outsize bank stock moves are being driven by destabilising short selling rather than deposit flight or asset quality and how regulators can address that as well as deposit insurance funding more broadly in drawing a line under the disturbance.
It's much harder to draw a line under the U.S. debt ceiling standoff, now that June 1 is identified as the day the government runs out of cash.
As an indication of resulting debt default fears at the front end of the Treasury bill market, poor demand for the U.S. Treasury's auction of $50 billion in four-week bills that cover the assumed 'X date' saw 1-month yields hit 5.73% on Friday - more than half a point above the Fed's new policy rate ceiling of 5.25%.
Six-month bill yields were calmer at 5.18% - but that's still more than 80 basis points above the 4.33% that futures markets see Fed rates falling to by November.
Two-year U.S. Treasury yields recovered some ground as the banking stocks have calmed, but remain as low as 3.8% and the dollar .DXY is marginally weaker - partly eyeing the European Central Bank's commitment to keep hiking interest rates beyond this week's latest rise.
Sterling GBP= outperformed and hit 11-month highs as British Prime Minister Rishi Sunak's Conservative Party faced a bleak set of local election results that increased the chances of a change of government at next year's general election.
But with markets already assuming Wednesday's quarter-point Fed rate rise was the last in the brutal 13-month and 500bp cycle, a key test of that will be the April U.S. payrolls report released later on Friday.
Employers likely hired the fewest workers in nearly 2-1/2 years last month, according to consensus forecasts for a 180,000 rise in jobs, as the cumulative and delayed effects of higher interest rates start to impact.
Elsewhere in the U.S. earnings season, it was more of a mixed bag.
Shares in cryptocurrency exchange Coinbase GlobalCOIN.O jumped 8% before the open after the firm posted a smaller-than-feared loss in the first quarter, benefiting from cost cuts and diversification of revenue sources.
On the other hand, Lyft'sLYFT.O stock plunged 14% after the ride-hailing company forecast a dull second quarter as price cuts in its race with bigger rival Uber to add more riders take a toll on margins.
With almost 80% of the S&P500 firms now already reported, estimates of the overall annual decline in profits for the quarter have fallen to less than 1% - much shallower than the 5% contraction seen a month ago and casting doubt on assumptions an earnings recession was already under way.
Events to watch for on Friday:
* U.S. April employment report, March consumer credit. Canada April employment report
* U.S. Federal Reserve Board governor Lisa Cook and St Louis Fed President James Bullard speak
* U.S. corp earnings: Cigna, Dominion Energy, Warner Bros Discovery, AMC Entertainment, Cboe Global Markets, Johnson Controls, Epam Systems, Evergy, AES
U.S. payroll growth remains strong https://tmsnrt.rs/3deZoGA
Apple earningshttps://tmsnrt.rs/42IYGWf
Apple's quarterly buybackshttps://tmsnrt.rs/42s8Fie
Overall U.S. bank credit https://tmsnrt.rs/40vb8Yw
(By Mike Dolan, editing by Nick Macfie mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD)
((mike.dolan@thomsonreuters.com; +44 207 542 8488; Reuters Messaging: mike.dolan.reuters.com@thomsonreuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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AppleAAPL.O, the world's largest company by market capitalisation, surprised investors after the bell on Thursday with a rise in iPhone sales even in a slumping global smartphone market - sending its stock up 2% in pre-market trading. A look at the day ahead in U.S. and global markets from Mike Dolan Big Tech delivered again, as another earnings beat from the world's biggest firm soothed investor nerves over U.S. regional banks and the debt ceiling row - and Friday's release of the April employment report. Even battered regional bank stocks showed some sign of settling, with the latest names in the crosshairs - PacWest, Western Alliance and First Horizon - up between 7% and 15% before Friday's open after another day of eye-watering losses.
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AppleAAPL.O, the world's largest company by market capitalisation, surprised investors after the bell on Thursday with a rise in iPhone sales even in a slumping global smartphone market - sending its stock up 2% in pre-market trading. A look at the day ahead in U.S. and global markets from Mike Dolan Big Tech delivered again, as another earnings beat from the world's biggest firm soothed investor nerves over U.S. regional banks and the debt ceiling row - and Friday's release of the April employment report. Two-year U.S. Treasury yields recovered some ground as the banking stocks have calmed, but remain as low as 3.8% and the dollar .DXY is marginally weaker - partly eyeing the European Central Bank's commitment to keep hiking interest rates beyond this week's latest rise.
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AppleAAPL.O, the world's largest company by market capitalisation, surprised investors after the bell on Thursday with a rise in iPhone sales even in a slumping global smartphone market - sending its stock up 2% in pre-market trading. A look at the day ahead in U.S. and global markets from Mike Dolan Big Tech delivered again, as another earnings beat from the world's biggest firm soothed investor nerves over U.S. regional banks and the debt ceiling row - and Friday's release of the April employment report. As an indication of resulting debt default fears at the front end of the Treasury bill market, poor demand for the U.S. Treasury's auction of $50 billion in four-week bills that cover the assumed 'X date' saw 1-month yields hit 5.73% on Friday - more than half a point above the Fed's new policy rate ceiling of 5.25%.
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AppleAAPL.O, the world's largest company by market capitalisation, surprised investors after the bell on Thursday with a rise in iPhone sales even in a slumping global smartphone market - sending its stock up 2% in pre-market trading. A look at the day ahead in U.S. and global markets from Mike Dolan Big Tech delivered again, as another earnings beat from the world's biggest firm soothed investor nerves over U.S. regional banks and the debt ceiling row - and Friday's release of the April employment report. As an indication of resulting debt default fears at the front end of the Treasury bill market, poor demand for the U.S. Treasury's auction of $50 billion in four-week bills that cover the assumed 'X date' saw 1-month yields hit 5.73% on Friday - more than half a point above the Fed's new policy rate ceiling of 5.25%.
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16011.0
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2023-05-05 00:00:00 UTC
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European shares rise on smaller ECB rate hike, upbeat earnings
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AAPL
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https://www.nasdaq.com/articles/european-shares-rise-on-smaller-ecb-rate-hike-upbeat-earnings
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
May 5 (Reuters) - European shares rose on Friday as the European Central Bank's smaller rate hike as well as market-beating results from Adidas and Apple boost sentiment.
The pan-European STOXX 600 index .STOXX edged up 0.3% by 0715 GMT, but is on track for its second consecutive weekly loss.
Bank .SX7P and energy shares .SXEP led the gains on the index, rising 1.2% and 1.8%, respectively, while miners .SX3P slid 0.2%.
The ECB raised its benchmark rates by 25 basis points—the smallest increase in its rate-hike cycle that started last summer—lifting the benchmark for borrowing costs to 3.25%. It, however, signalled more tightening was to come.
Economic data, including the euro zone's retail sales for March and composite PMI for April, will be on investors' radar for more clues on the region's economic strength.
Adidas AG ADSGn.DE climbed 5.2% after reporting better-than-expected first-quarter results, with investors hoping the German sportswear giant can turn its fortunes around.
In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps.
(Reporting by Shubham Batra in Bengaluru; Editing by Savio D'Souza)
((Shubham.Batra@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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In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps. The pan-European STOXX 600 index .STOXX edged up 0.3% by 0715 GMT, but is on track for its second consecutive weekly loss. Bank .SX7P and energy shares .SXEP led the gains on the index, rising 1.2% and 1.8%, respectively, while miners .SX3P slid 0.2%.
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In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window May 5 (Reuters) - European shares rose on Friday as the European Central Bank's smaller rate hike as well as market-beating results from Adidas and Apple boost sentiment. Bank .SX7P and energy shares .SXEP led the gains on the index, rising 1.2% and 1.8%, respectively, while miners .SX3P slid 0.2%.
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In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window May 5 (Reuters) - European shares rose on Friday as the European Central Bank's smaller rate hike as well as market-beating results from Adidas and Apple boost sentiment. It, however, signalled more tightening was to come.
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In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window May 5 (Reuters) - European shares rose on Friday as the European Central Bank's smaller rate hike as well as market-beating results from Adidas and Apple boost sentiment. The pan-European STOXX 600 index .STOXX edged up 0.3% by 0715 GMT, but is on track for its second consecutive weekly loss.
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16012.0
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2023-05-05 00:00:00 UTC
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Foxconn says April sales fell 11.77% y/y
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AAPL
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https://www.nasdaq.com/articles/foxconn-says-april-sales-fell-11.77-y-y
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nan
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nan
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TAIPEI, May 5 (Reuters) - Taiwan's Foxconn 2317.TW, the world's largest contract electronics maker and major iPhone assembler for Apple Inc AAPL.O, said on Friday that revenue in April fell 11.77% year-on-year.
(Reporting By Yimou Lee; Editing by Toby Chopra)
((yimou.lee@thomsonreuters.com; +886-2-8729-5122;))
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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TAIPEI, May 5 (Reuters) - Taiwan's Foxconn 2317.TW, the world's largest contract electronics maker and major iPhone assembler for Apple Inc AAPL.O, said on Friday that revenue in April fell 11.77% year-on-year. (Reporting By Yimou Lee; Editing by Toby Chopra) ((yimou.lee@thomsonreuters.com; +886-2-8729-5122;)) 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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TAIPEI, May 5 (Reuters) - Taiwan's Foxconn 2317.TW, the world's largest contract electronics maker and major iPhone assembler for Apple Inc AAPL.O, said on Friday that revenue in April fell 11.77% year-on-year. (Reporting By Yimou Lee; Editing by Toby Chopra) ((yimou.lee@thomsonreuters.com; +886-2-8729-5122;)) 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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TAIPEI, May 5 (Reuters) - Taiwan's Foxconn 2317.TW, the world's largest contract electronics maker and major iPhone assembler for Apple Inc AAPL.O, said on Friday that revenue in April fell 11.77% year-on-year. (Reporting By Yimou Lee; Editing by Toby Chopra) ((yimou.lee@thomsonreuters.com; +886-2-8729-5122;)) 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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TAIPEI, May 5 (Reuters) - Taiwan's Foxconn 2317.TW, the world's largest contract electronics maker and major iPhone assembler for Apple Inc AAPL.O, said on Friday that revenue in April fell 11.77% year-on-year. (Reporting By Yimou Lee; Editing by Toby Chopra) ((yimou.lee@thomsonreuters.com; +886-2-8729-5122;)) 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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16013.0
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2023-05-05 00:00:00 UTC
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GLOBAL MARKETS-Shares up on rate pause bets, Apple earnings; U.S bank rout rumbles on
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AAPL
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https://www.nasdaq.com/articles/global-markets-shares-up-on-rate-pause-bets-apple-earnings-u.s-bank-rout-rumbles-on
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nan
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nan
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By Naomi Rovnick
LONDON, May 5 (Reuters) - Global stocks eked out small gains on Friday as investors focused on bets of central banks pausing rate increases in light of another rout in shares of U.S. regional lenders.
MSCI's broad index of global equities ..MIWO00000PUS edged 0.2% higher following a four-day losing streak, while Europe's Stoxx 600 share index .STOXX rose 0.3%.
Futures contracts ESc1 on Wall Street's S&P 500 share index added 0.4%, a day after Los Angeles-based PacWest Bancorp's PACW.O said it was exploring a sale, deepening falls for U.S. regional banking stocks and increasing pressure on the Federal Reserve to end its most aggressive rate rise cycle in decades.
Better than expected financial results from Apple Inc AAPL.O also boosted the mood on Friday, however. Futures contracts tracking Wall Street's tech heavy Nasdaq 100 rose 0.5%.
Shares of U.S. regional banks .BKX have dropped 11.5% this week, following the collapse of First Republic Bank over the weekend that renewed fears of a financial sector crisis. Markets are pricing for the Fed to stand still at its next meeting in June but expect rate cuts from July FEDWATCH.
"The U.S. banking turmoil raises hard landing risk," for the economy, said Emmanuel Cau, head of European equity strategy at Barclays.
The Fed on Wednesday raised its funds rate by 25 basis points (bps) to a range of 5%-5.25%.
"We think further hikes are off the table," Cau said. But he cautioned that only "a quick drop in inflation" or a "sharp weakening in growth", would prompt the world's most influential central bank to cut borrowing costs.
Later on Friday, the U.S. non-farm payrolls report for April is expected to show the slowest jobs growth in almost 2-1/2 years. Economists polled by Reuters expect to see that U.S. employers added 180,000 new workers, in the smallest gain since December 2020, with the unemployment rate edging up to a still historically low 3.6%.
In government debt markets, U.S. Treasuries pared back some price gains after a strong performance all week. The yield on the two-year Treasury note US2YT-RR, which tracks interest rate expectations, added 9 bps to 3.817%. The benchmark 10-year Treasury yield US10YT=RR, which sets the tone for borrowing costs and asset pricing worldwide, was 4 bps higher at 3.39%. Bond yields move inversely to prices.
Germany's 10-year bund yield DE10YT=RR, which reflects euro zone borrowing rates, rose 5 bps to 2.246% after falling for three straight sessions.
The European Central Bank raised its main deposit rate for the seventh time in this cycle on Thursday, to 3.25%, but markets pared back bets of how long it would continue hiking in its fight against high inflation.
Against a basket of currencies, the dollar =USD eased 0.2%, heading for its seventh weekly decline out of the last eight weeks.
Sterling GBP=D3 was last trading at $1.262, up 0.4% on the day, while the euro EUR=EBS firmed 0.2% to $1.1039.
Spot gold XAU= was at $2,046.29 an ounce, not far from its all-time high of $2,072.49.
Brent LCOc1 was at $73.47, up 1.4% on the day.
World FX rates YTDhttp://tmsnrt.rs/2egbfVh
Asian stock marketshttps://tmsnrt.rs/2zpUAr4
(Reporting by Naomi Rovnick. Additional reporting by Ankur Banarjee in Singapore. Editing by Jacqueline Wong and Robert Birsel)
((naomi.rovnick@thomsonreuters.com;; Mobile - +44 7912 164 651; Twitter: @naomi_rovnick;))
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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Better than expected financial results from Apple Inc AAPL.O also boosted the mood on Friday, however. By Naomi Rovnick LONDON, May 5 (Reuters) - Global stocks eked out small gains on Friday as investors focused on bets of central banks pausing rate increases in light of another rout in shares of U.S. regional lenders. Futures contracts ESc1 on Wall Street's S&P 500 share index added 0.4%, a day after Los Angeles-based PacWest Bancorp's PACW.O said it was exploring a sale, deepening falls for U.S. regional banking stocks and increasing pressure on the Federal Reserve to end its most aggressive rate rise cycle in decades.
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Better than expected financial results from Apple Inc AAPL.O also boosted the mood on Friday, however. Futures contracts ESc1 on Wall Street's S&P 500 share index added 0.4%, a day after Los Angeles-based PacWest Bancorp's PACW.O said it was exploring a sale, deepening falls for U.S. regional banking stocks and increasing pressure on the Federal Reserve to end its most aggressive rate rise cycle in decades. Futures contracts tracking Wall Street's tech heavy Nasdaq 100 rose 0.5%.
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Better than expected financial results from Apple Inc AAPL.O also boosted the mood on Friday, however. By Naomi Rovnick LONDON, May 5 (Reuters) - Global stocks eked out small gains on Friday as investors focused on bets of central banks pausing rate increases in light of another rout in shares of U.S. regional lenders. Futures contracts ESc1 on Wall Street's S&P 500 share index added 0.4%, a day after Los Angeles-based PacWest Bancorp's PACW.O said it was exploring a sale, deepening falls for U.S. regional banking stocks and increasing pressure on the Federal Reserve to end its most aggressive rate rise cycle in decades.
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Better than expected financial results from Apple Inc AAPL.O also boosted the mood on Friday, however. The yield on the two-year Treasury note US2YT-RR, which tracks interest rate expectations, added 9 bps to 3.817%. The benchmark 10-year Treasury yield US10YT=RR, which sets the tone for borrowing costs and asset pricing worldwide, was 4 bps higher at 3.39%.
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16014.0
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2023-05-05 00:00:00 UTC
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GLOBAL MARKETS-Shares rise, dollar weakens on bank sector fears
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AAPL
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https://www.nasdaq.com/articles/global-markets-shares-rise-dollar-weakens-on-bank-sector-fears-0
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nan
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nan
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By Ankur Banerjee
SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered near record highs on Friday, as investors worried that a rout in shares of U.S. regional lenders earlier this week could herald more trouble for the banking sector.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was 0.44% higher and was on course to snap its two-week losing streak as investors bet that the Federal Reserve may soon have to cut interest rates.
Shares of U.S. regional banks sank this week after the collapse of First Republic Bank, bringing back worries of a widening banking sector crisis that began with the collapse of Silicon Valley Bank in March.
"There is increasing nervousness about the banking problems in the U.S. and I fear that the central banks are going too far," said Shane Oliver, chief economist at AMP Capital in Sydney.
"There seems to be a view among central banks that they've got it under control, whereas the means that they've used to try and control it, are actually creating more problems."
Wall Street ended lower on Thursday after Los Angeles-based PacWest Bancorp's PACW.O move to explore strategic options deepened fears about the health of U.S. lenders as pressure grows on regulators to take more steps to shore up the country's banking sector. .N
Shares of another regional lender Western Alliance WAL.N pared losses after plummeting by nearly 60% on a Financial Times report that it was exploring strategic options. Western Alliance denied the report.
"There is a risk that we enter a self-fulfilling cycle of negative sentiment leading to lower stock prices, higher funding costs and deposit flight," said James Rutherford, head of European equities at Federated Hermes.
The turmoil in the banking sector comes as the Federal Reserve raised interest rates by 25 basis points on Wednesday but hinted that its marathon hiking cycle may be ending.
Markets are pricing for the Fed to stand pat at its next meeting in June before embarking on rate cuts from July, according to CME FedWatch tool.
"There is plenty of data between now and the June 14 Fed meeting, with what happens in the banking sector being more key at the moment," Saxo Markets strategists said.
U.S. nonfarm payroll data for April will be released later in the global day.
European stock markets looked set for a higher open, with Eurostoxx 50 futures STXEc1 up 0.42%, German DAX futures FDXc1 up 0.39% and FTSE futures FFIc1 up 0.33%.
On Thursday, the European Central Bank raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation. Markets though pared back their expectations on how much further rates would rise.
Nick Rees, FX market analyst at Monex Europe, said it was clear that the ECB is now in the home stretch when it comes to monetary tightening, despite ECB President Christine Lagarde's attempt to steer markets away from this narrative.
China shares .SSEC fell 0.71%, while Hong Kong's Hang Seng index .HSI was up 0.6%.
China's service activity grew for a fourth straight month in April, a private-sector survey showed on Friday, as businesses continued to benefit from the country's reopening, although expansion slowed slightly.
E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets.
In the currency market, the Japanese yen JPY=EBS strengthened 0.20% to 134.04 per dollar, on course for its first weekly gain in nearly a month. /FRX
Sterling GBP=D3 was last trading at $1.26095, up 0.27% on the day, having touched an 11-month high of $1.26150. The euro EUR=EBS firmed 0.27% to $1.10435.
Against a basket of currencies, the dollar =USD eased 0.170% to 101.17.
Meanwhile, spot gold eased 0.1% to $2,049.68 an ounce, hovering close to its all-time high of $2,072.49. GOL/
U.S. crude CLc1 rose 0.77% to $69.09 per barrel and Brent LCOc1 was at $73.07, up 0.79% on the day. Still, oil prices were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand. O/R
World FX rates YTDhttp://tmsnrt.rs/2egbfVh
Asian stock marketshttps://tmsnrt.rs/2zpUAr4
(Editing by Jacqueline Wong & Simon Cameron-Moore)
((ankur.banerjee@thomsonreuters.com;; Mobile - +65 8121 3925; Twitter: @AnkurBanerjee17;))
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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E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets. By Ankur Banerjee SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered near record highs on Friday, as investors worried that a rout in shares of U.S. regional lenders earlier this week could herald more trouble for the banking sector. Wall Street ended lower on Thursday after Los Angeles-based PacWest Bancorp's PACW.O move to explore strategic options deepened fears about the health of U.S. lenders as pressure grows on regulators to take more steps to shore up the country's banking sector.
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E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets. By Ankur Banerjee SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered near record highs on Friday, as investors worried that a rout in shares of U.S. regional lenders earlier this week could herald more trouble for the banking sector. The turmoil in the banking sector comes as the Federal Reserve raised interest rates by 25 basis points on Wednesday but hinted that its marathon hiking cycle may be ending.
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E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets. By Ankur Banerjee SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered near record highs on Friday, as investors worried that a rout in shares of U.S. regional lenders earlier this week could herald more trouble for the banking sector. Shares of U.S. regional banks sank this week after the collapse of First Republic Bank, bringing back worries of a widening banking sector crisis that began with the collapse of Silicon Valley Bank in March.
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E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets. By Ankur Banerjee SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered near record highs on Friday, as investors worried that a rout in shares of U.S. regional lenders earlier this week could herald more trouble for the banking sector. "There seems to be a view among central banks that they've got it under control, whereas the means that they've used to try and control it, are actually creating more problems."
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16015.0
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2023-05-05 00:00:00 UTC
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European shares rise on smaller ECB rate hike, upbeat earnings
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AAPL
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https://www.nasdaq.com/articles/european-shares-rise-on-smaller-ecb-rate-hike-upbeat-earnings-0
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nan
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nan
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By Shubham Batra
May 5 (Reuters) - European shares rose on Friday, as the European Central Bank's smaller rate hike, and market-beating results from Adidas and Apple boosted sentiment.
The pan-European STOXX 600 index .STOXX edged up 0.1%, but is on track for its second consecutive weekly loss.
Energy .SXEP and utilities shares .SXPP led the gains on the index, rising 1.4% and 1.0% respectively, while food and beverage shares .SX3P slid 0.4%.
Air France-KLM SA AIRF.PA lost 2.8% despite better-than-expected first-quarter revenue and robust cash flow as it benefited from a global recovery in air travel.
The ECB raised its benchmark rates by 25 basis points to 3.25%, the smallest increase in its rate-hike cycle that started last summer, but signalled more tightening was to come.
French ECB policymaker Francois Villeroy de Galhau said earlier in the day that the ECB will continue increasing interest rates until inflation is under control.
"Inflation pressures worldwide help in driving equity markets although we don't like to pay higher prices, as consumers it eats into our pockets. The higher prices go to some company reaping the rewards of those higher prices," said Chi Chan, Portfolio Manager and Senior Research Analyst, Federated Hermes.
"As long as you're a company that is able to pass through inflation or higher, then you're a beneficiary and we do see that in the latest earnings."
ECB's Survey of Professional Forecasters showed on Friday that euro zone inflation could be lower in the coming years than previously expected but may stay above ECB's 2% target further out.
Among stocks, the biggest gainer on the index, Adidas AG ADSGn.DE climbed 7.1% after reporting better-than-expected first-quarter results, with investors hoping the German sportswear giant can turn its fortunes around.
Caixabank SA CABK.MC rose 1.2% after the Spanish lender reported first quarter net profit above expectations and raised its 2023 lending income guidance.
Meanwhile, shares of Evotec SE EVTG.DE lost the most on the index, dropping 9.0% after the company announced that it will leave German index MDAX .MDAXI.
In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps.
Investors will keep a close eye on the euro zone's retail sales data due at 0900 GMT to assess the economic strength of the region.
(Reporting by Shubham Batra in Bengaluru; Editing by Savio D'Souza and Varun H K)
((Shubham.Batra@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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In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps. The ECB raised its benchmark rates by 25 basis points to 3.25%, the smallest increase in its rate-hike cycle that started last summer, but signalled more tightening was to come. Among stocks, the biggest gainer on the index, Adidas AG ADSGn.DE climbed 7.1% after reporting better-than-expected first-quarter results, with investors hoping the German sportswear giant can turn its fortunes around.
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In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps. By Shubham Batra May 5 (Reuters) - European shares rose on Friday, as the European Central Bank's smaller rate hike, and market-beating results from Adidas and Apple boosted sentiment. Air France-KLM SA AIRF.PA lost 2.8% despite better-than-expected first-quarter revenue and robust cash flow as it benefited from a global recovery in air travel.
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In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps. ECB's Survey of Professional Forecasters showed on Friday that euro zone inflation could be lower in the coming years than previously expected but may stay above ECB's 2% target further out. Among stocks, the biggest gainer on the index, Adidas AG ADSGn.DE climbed 7.1% after reporting better-than-expected first-quarter results, with investors hoping the German sportswear giant can turn its fortunes around.
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In the U.S., Apple Inc AAPL.O, the world's largest company by market capitalisation, surprised investors with a rise in iPhone sales even as the global smartphone market slumps. French ECB policymaker Francois Villeroy de Galhau said earlier in the day that the ECB will continue increasing interest rates until inflation is under control. "Inflation pressures worldwide help in driving equity markets although we don't like to pay higher prices, as consumers it eats into our pockets.
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16016.0
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2023-05-05 00:00:00 UTC
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Buffett's Tech Stock Mistake, and 1 Sneaky Winner That Made Berkshire Billions
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AAPL
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https://www.nasdaq.com/articles/buffetts-tech-stock-mistake-and-1-sneaky-winner-that-made-berkshire-billions
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nan
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nan
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Warren Buffett has made a lot of money for Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) investors since making Apple (NASDAQ: AAPL) its biggest investment. But a few years before, Buffett made some mistakes in tech, trying to value-shop with IBM (NYSE: IBM). In this video, Motley Fool contributors Jason Hall and Tyler Crowe discuss the lessons we can learn and how a different Buffett stock that's easy to overlook -- Moody's (NYSE: MCO) -- has been a massively underappreciated winner.
*Stock prices used were from the afternoon of May 2, 2023. The video was published on May 5, 2023.
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*Stock Advisor returns as of May 1, 2023
Jason Hall has positions in Berkshire Hathaway. Tyler Crowe has positions in Apple and Berkshire Hathaway. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, and Moody's. The Motley Fool has a disclosure policy. Jason Hall 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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Warren Buffett has made a lot of money for Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) investors since making Apple (NASDAQ: AAPL) its biggest investment. In this video, Motley Fool contributors Jason Hall and Tyler Crowe discuss the lessons we can learn and how a different Buffett stock that's easy to overlook -- Moody's (NYSE: MCO) -- has been a massively underappreciated winner. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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Warren Buffett has made a lot of money for Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) investors since making Apple (NASDAQ: AAPL) its biggest investment. In this video, Motley Fool contributors Jason Hall and Tyler Crowe discuss the lessons we can learn and how a different Buffett stock that's easy to overlook -- Moody's (NYSE: MCO) -- has been a massively underappreciated winner. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, and Moody's.
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Warren Buffett has made a lot of money for Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) investors since making Apple (NASDAQ: AAPL) its biggest investment. In this video, Motley Fool contributors Jason Hall and Tyler Crowe discuss the lessons we can learn and how a different Buffett stock that's easy to overlook -- Moody's (NYSE: MCO) -- has been a massively underappreciated winner. See the 10 stocks *Stock Advisor returns as of May 1, 2023 Jason Hall has positions in Berkshire Hathaway.
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Warren Buffett has made a lot of money for Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) investors since making Apple (NASDAQ: AAPL) its biggest investment. In this video, Motley Fool contributors Jason Hall and Tyler Crowe discuss the lessons we can learn and how a different Buffett stock that's easy to overlook -- Moody's (NYSE: MCO) -- has been a massively underappreciated winner. See the 10 stocks *Stock Advisor returns as of May 1, 2023 Jason Hall has positions in Berkshire Hathaway.
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16017.0
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2023-05-05 00:00:00 UTC
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This Company Grew Revenue for Shareholders More Than Apple or Microsoft Over the Last Decade
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AAPL
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https://www.nasdaq.com/articles/this-company-grew-revenue-for-shareholders-more-than-apple-or-microsoft-over-the-last
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nan
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nan
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Over the last 10 years, few stocks have performed as well as Apple and Microsoft. The stock prices for these two tech giants are up 975% and 828%, respectively, compared to the 162% return for the S&P 500. And many investors would rightly credit growth for these market-beating returns.
One company that can claim far greater growth in revenue per share than either Apple or Microsoft is mattress company Sleep Number (NASDAQ: SNBR). And yet, if you invested $1,000 in Sleep Number stock 10 years ago, you'd have just $1,006 today. The stock underperformed the market by a wide margin even though it's beating Apple and Microsoft in revenue-per-share growth, as the chart below shows.
SNBR Revenue Per Share (TTM) data by YCharts.
Let's look at why Sleep Number stock has underperformed the market and see whether Sleep Number stock will underperform over the next 10 years as well.
Why Sleep Number stock underperforms
Growth is extremely common among stocks that perform well over long time periods. This statement is affirmed by multiple studies. For example, among the top 25% of stock performers, 60% of total shareholder returns over 10-year periods was due to growth, according to a 2006 study from Boston Consulting Group (BCG).
The BCG study also found that changes in a company's share count had a part to play. For those unaware, companies offer thousands or even millions of shares. And each share represents a small percentage of the underlying business. However, the share count isn't static -- it goes up and down, affecting the company's value. Therefore, looking at per-share growth is also important, and it's why I compared Apple and Microsoft to Sleep Number above.
The chart below shows that Apple and Microsoft's trailing-12-month revenue growth has marginally outgrown Sleep Number's over the last 10 years. However, through share repurchases, Sleep Number lowered its share count by a whopping 60%, which boosted its per-share revenue growth.
SNBR Revenue (TTM) data by YCharts.
The biggest disparity when comparing Sleep Number with Apple and Microsoft is profitability. Whereas the two tech giants grew earnings per share (EPS) more than revenue per share, Sleep Number's EPS growth is far below its revenue per share growth.
SNBR Revenue Per Share (TTM) data by YCharts.
It's worth noting that Sleep Number's EPS is prone to periods of underperformance because the mattress industry is cyclical. Mattress sales don't typically come with recurring revenue. And Sleep Number's mattresses are high-quality with long warranties, meaning repeat customers are naturally infrequent.
In 2022, as consumer demand cooled, Sleep Number's diluted EPS fell a whopping 74% compared to 2021. And it's why Sleep Number stock is lagging the market right now, in my view.
This steep drop-off in profitability has happened to Sleep Number before during periods of waning consumer demand. And it's why right now is the third time in the last 25 years that Sleep Number stock has fallen by 80% or more.
Is Sleep Number a good stock today?
The market might be blowing Sleep Number's slump out of proportion, which means the stock is discounted. Consider that even if demand fell for its mattresses, the company's net sales in 2022 were its second highest ever, down only 3% from record net sales in 2021. And it expects to earn EPS of $1.25 to $2.00 in 2023, meaning Sleep Number stock currently trades between 11 and 17 times this year's earnings.
Moreover, Sleep Number stock looks even cheaper from a cash-flow perspective. In the first quarter of 2023, the company had $19 million in cash from operations, and it expects $100 million for the whole year. This means it trades at just 5 times this year's expected operating cash flow, which is quite inexpensive.
Looking at management's guidance through 2026, Sleep Number's profitability is expected to rebound to far more normal levels, while sales continue to creep moderately higher. And if that happens, I believe it's very likely that Sleep Number stock will outperform the market from where the stock trades today.
Circling back to the intro of this article, it's true that Sleep Number stock underperformed the market average over the last 10 years. However, investors who purchased shares during previous pullbacks did much better. And buying this dip in Sleep Number could also turn out well.
To be clear, there is admittedly one glaring negative with Sleep Number right now: While it has repurchased many shares over the last decade, no repurchases are planned this year. The company's debt is elevated at $470.6 million compared with a cash position of just $1.5 million. Therefore, its cash flow will be preserved for the business rather than rewarding shareholders with repurchases while the stock is cheap That's unfortunate.
That said, Sleep Number's profits are down due to the cyclicality of the business. But the brand remains strong, and profits should rebound, which could make this a dip worth buying for some investors.
10 stocks we like better than Sleep Number
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 Sleep Number 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 April 24, 2023
Jon Quast has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Microsoft. The Motley Fool recommends Sleep Number. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The stock underperformed the market by a wide margin even though it's beating Apple and Microsoft in revenue-per-share growth, as the chart below shows. For example, among the top 25% of stock performers, 60% of total shareholder returns over 10-year periods was due to growth, according to a 2006 study from Boston Consulting Group (BCG). Looking at management's guidance through 2026, Sleep Number's profitability is expected to rebound to far more normal levels, while sales continue to creep moderately higher.
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One company that can claim far greater growth in revenue per share than either Apple or Microsoft is mattress company Sleep Number (NASDAQ: SNBR). Whereas the two tech giants grew earnings per share (EPS) more than revenue per share, Sleep Number's EPS growth is far below its revenue per share growth. And it expects to earn EPS of $1.25 to $2.00 in 2023, meaning Sleep Number stock currently trades between 11 and 17 times this year's earnings.
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One company that can claim far greater growth in revenue per share than either Apple or Microsoft is mattress company Sleep Number (NASDAQ: SNBR). Let's look at why Sleep Number stock has underperformed the market and see whether Sleep Number stock will underperform over the next 10 years as well. Whereas the two tech giants grew earnings per share (EPS) more than revenue per share, Sleep Number's EPS growth is far below its revenue per share growth.
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One company that can claim far greater growth in revenue per share than either Apple or Microsoft is mattress company Sleep Number (NASDAQ: SNBR). Let's look at why Sleep Number stock has underperformed the market and see whether Sleep Number stock will underperform over the next 10 years as well. Whereas the two tech giants grew earnings per share (EPS) more than revenue per share, Sleep Number's EPS growth is far below its revenue per share growth.
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16018.0
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2023-05-05 00:00:00 UTC
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Apple Crushes; Get Ready For All-Time Highs
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AAPL
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https://www.nasdaq.com/articles/apple-crushes-get-ready-for-all-time-highs
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nan
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nan
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An immediate jump in last night's after-hours session should tell you everything you need to know about Apple Inc's (NASDAQ: AAPL) Q2 earnings. Investors will have to wait a while and see how shares trade through Friday's session and into next week, but for now, the numbers could well justify a move to fresh all-time highs.
They were starting to run into some resistance around the $170-180 mark, so they needed it. With many of their big tech peers already having reported solid, if not blowout, numbers, Wall Street would have been watching closely to see if Apple could continue the pattern of tech surprises. Let's jump in and take a look at the finer details.
The Numbers
For starters, both the company's top-line revenue and EPS topped analyst expectations, with many more bright spots appearing beyond the headline numbers. As CEO Tim Cook told investors after the release, "We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment and to have our installed base of active devices reach an all-time high."
These are solid records to be set after a year of rampant inflation, where consumers would be forgiven for tightening the purse strings when it came to luxury goods. As a result of this not being the case, Apple is boasting a robust operating cash flow of $28.6 billion, which fed part of the board's decision to authorize an additional $90 billion in share repurchases. In addition to this, they're also raising their dividend for the eleventh year in a row.
These latest two updates should be enough for investors who've been just watching Apple shares to get involved. A publicly traded company can't give more apparent signals to the market that they believe their share price is trading well below fair value and are willing to put their money where their mouth is. A glance at MarketBeat's Forecast tool sees that Apple shares are rated as a Moderate Buy, and it's easy to see why, even with their shares already up more than 30% since January.
Considering the strong performance across the board from tech in this season's earnings and then Apple's impressive update last night, you have to think that this uptrend will continue. As mentioned, shares will soon be running into some pretty heavy resistance, but they're currently less than a 10% move from new all-time highs. Of all the company's out there, you'd back Apple to make it happen.
Getting Involved
To be sure, though, some investor skepticism remains, particularly around Apple's valuation. The team over at Baird was bullish ahead of Apple's report but flagged what they called a "valuation concern." While he reiterated their Outperform rating on the stock, analyst William Power wrote in a note to investors that "we remain positive on the long-term eco-system benefits, strong free cash flow and capital returns, and are raising our target modestly. However, with valuation vs. the S&P 500 near all-time highs, we'd also be more aggressive buyers on any pullbacks."
For context, Power noted that Apple is trading at nearly 28 times 2023's estimated earnings and 26.3 times 2024's estimated earnings. The benchmark S&P 500 index is trading at roughly 19 times estimated earnings, making this the highest premium relative to the index since 2020.
This is something investors must be mindful of, especially as this year's rally in the S&P 500 has been largely fuelled by only a handful of stocks, including Apple. A pullback there would make this layer of resistance all the tougher to break through, but as Baird said, any pullback should be aggressively bought.
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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An immediate jump in last night's after-hours session should tell you everything you need to know about Apple Inc's (NASDAQ: AAPL) Q2 earnings. Investors will have to wait a while and see how shares trade through Friday's session and into next week, but for now, the numbers could well justify a move to fresh all-time highs. These are solid records to be set after a year of rampant inflation, where consumers would be forgiven for tightening the purse strings when it came to luxury goods.
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An immediate jump in last night's after-hours session should tell you everything you need to know about Apple Inc's (NASDAQ: AAPL) Q2 earnings. While he reiterated their Outperform rating on the stock, analyst William Power wrote in a note to investors that "we remain positive on the long-term eco-system benefits, strong free cash flow and capital returns, and are raising our target modestly. For context, Power noted that Apple is trading at nearly 28 times 2023's estimated earnings and 26.3 times 2024's estimated earnings.
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An immediate jump in last night's after-hours session should tell you everything you need to know about Apple Inc's (NASDAQ: AAPL) Q2 earnings. Investors will have to wait a while and see how shares trade through Friday's session and into next week, but for now, the numbers could well justify a move to fresh all-time highs. As CEO Tim Cook told investors after the release, "We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment and to have our installed base of active devices reach an all-time high."
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An immediate jump in last night's after-hours session should tell you everything you need to know about Apple Inc's (NASDAQ: AAPL) Q2 earnings. Getting Involved To be sure, though, some investor skepticism remains, particularly around Apple's valuation. However, with valuation vs. the S&P 500 near all-time highs, we'd also be more aggressive buyers on any pullbacks."
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16019.0
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2023-05-04 00:00:00 UTC
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Apple (AAPL) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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AAPL
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https://www.nasdaq.com/articles/apple-aapl-q2-earnings%3A-how-key-metrics-compare-to-wall-street-estimates
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nan
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nan
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For the quarter ended March 2023, Apple (AAPL) reported revenue of $94.84 billion, down 2.5% over the same period last year. EPS came in at $1.52, compared to $1.52 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $93.32 billion, representing a surprise of +1.63%. The company delivered an EPS surprise of +5.56%, with the consensus EPS estimate being $1.44.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Apple performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Wearables, Home and Accessories: $8.76 billion versus the nine-analyst average estimate of $8.66 billion.
Revenue- iPhone: $51.33 billion versus $49.40 billion estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +1.5% change.
Net Sales- Services: $20.91 billion versus $20.86 billion estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +5.5% change.
Revenue- Mac: $7.17 billion versus the nine-analyst average estimate of $7.82 billion. The reported number represents a year-over-year change of -31.3%.
Net Sales- Products: $73.93 billion compared to the $72.30 billion average estimate based on nine analysts. The reported number represents a change of -4.6% year over year.
Revenue- iPad: $6.67 billion versus the nine-analyst average estimate of $6.72 billion. The reported number represents a year-over-year change of -12.8%.
Gross margin- Services: $14.84 billion versus $14.80 billion estimated by six analysts on average.
Gross margin- Products: $27.13 billion versus the six-analyst average estimate of $26.20 billion.
View all Key Company Metrics for Apple here>>>
Shares of Apple have returned +2.3% over the past month versus the Zacks S&P 500 composite's -0.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Top 5 ChatGPT Stocks Revealed
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Apple Inc. (AAPL) : Free Stock Analysis Report
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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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For the quarter ended March 2023, Apple (AAPL) reported revenue of $94.84 billion, down 2.5% over the same period last year. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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For the quarter ended March 2023, Apple (AAPL) reported revenue of $94.84 billion, down 2.5% over the same period last year. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. The reported revenue compares to the Zacks Consensus Estimate of $93.32 billion, representing a surprise of +1.63%.
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For the quarter ended March 2023, Apple (AAPL) reported revenue of $94.84 billion, down 2.5% over the same period last year. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. The reported revenue compares to the Zacks Consensus Estimate of $93.32 billion, representing a surprise of +1.63%.
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For the quarter ended March 2023, Apple (AAPL) reported revenue of $94.84 billion, down 2.5% over the same period last year. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. The reported revenue compares to the Zacks Consensus Estimate of $93.32 billion, representing a surprise of +1.63%.
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16020.0
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2023-05-04 00:00:00 UTC
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US STOCKS-Wall Street falls as PacWest woes fuel fresh selloff in regional banks
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-falls-as-pacwest-woes-fuel-fresh-selloff-in-regional-banks
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nan
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nan
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By Ankika Biswas and Sruthi Shankar
May 4 (Reuters) - U.S. stock indexes fell on Thursday after PacWest's move to explore strategic options deepened concerns about the health of regional banks, with uncertainty around the path of U.S. interest rates also weighing on the mood.
PacWest Bancorp PACW.O tumbled 49.7% to a record low after confirming it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered recently on fears of a worsening banking crisis.
Regulators seized troubled First Republic Bank on Sunday and JPMorgan Chase JPM.N agreed to buy majority of its assets, marking the largest U.S. bank failure since the 2008 financial crisis.
Regional lenders including KeyCorp KEY.N, Valley National Bancorp VLY.O and Zions Bancorp ZION.O fell between 5.8% and 9.7%.
Western Alliance Bancorp WAL.N tumbled 43.7%, with trading in the stock halted multiple times. The lender denied a report that it was exploring a potential sale that sent its shares down more than 60%.
The KBW Regional Banking index .KRX dropped 4.0%, while the S&P 500 Banks index .SPXBK fell 3.3%.
"The continued downside in regional banks will be a problem for the market overall," said David Russell, vice president of market intelligence at TradeStation.
"In many ways the Fed's continued hawkish slant is giving short sellers a license to kill the banks, particularly the regional banks."
The CBOE volatility index .VIX, also known as Wall Street's fear gauge, rose to 21 points to touch its highest since late March.
The Fed on Wednesday raised interest rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening, giving officials time to assess the recent bank failures, U.S. debt ceiling situation and sticky inflation.
However, U.S. stocks dropped on Wednesday after Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
U.S. interest rate futures are factoring in a 62% chance of rate cuts starting as soon as July, according to CME Group's FedWatch Tool.
Data on Thursday showed the number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy.
Apple Inc AAPL.O shares fell 1%. The iPhone maker is set to report quarterly results after the closing bell.
At 11:49 a.m. ET, the Dow Jones Industrial Average .DJI was down 405.02 points, or 1.21%, at 33,009.22, the S&P 500 .SPX was down 33.95 points, or 0.83%, at 4,056.80, and the Nasdaq Composite .IXIC was down 59.55 points, or 0.50%, at 11,965.77.
Moderna Inc MRNA.O jumped 4.5% on stronger-than-expected sales for its COVID-19 vaccine for the first quarter.
Qualcomm Inc QCOM.O slumped 5.7% after the chip designer's third-quarter forecasts missed estimates, while Paramount Global Inc PARA.O tanked 28.1% after missing first-quarter revenue estimates amid a weak advertising market in its TV business.
Canada's Toronto-Dominion Bank Group TD.TO called off its $13.4 billion acquisition of First Horizon Corp FHN.N, triggering a 37% drop in the U.S. regional bank's shares.
Declining issues outnumbered advancers for a 2.63-to-1 ratio on the NYSE and a 1.80-to-1 ratio on the Nasdaq.
The S&P index recorded four new 52-week highs and 24 new lows, while the Nasdaq recorded 37 new highs and 349 new lows.
Stocks and the Fedhttps://tmsnrt.rs/3AUufR0
(Reporting by Ankika Biswas and Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)
((Ankika.Biswas@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc AAPL.O shares fell 1%. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - U.S. stock indexes fell on Thursday after PacWest's move to explore strategic options deepened concerns about the health of regional banks, with uncertainty around the path of U.S. interest rates also weighing on the mood. The Fed on Wednesday raised interest rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening, giving officials time to assess the recent bank failures, U.S. debt ceiling situation and sticky inflation.
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Apple Inc AAPL.O shares fell 1%. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - U.S. stock indexes fell on Thursday after PacWest's move to explore strategic options deepened concerns about the health of regional banks, with uncertainty around the path of U.S. interest rates also weighing on the mood. PacWest Bancorp PACW.O tumbled 49.7% to a record low after confirming it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered recently on fears of a worsening banking crisis.
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Apple Inc AAPL.O shares fell 1%. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - U.S. stock indexes fell on Thursday after PacWest's move to explore strategic options deepened concerns about the health of regional banks, with uncertainty around the path of U.S. interest rates also weighing on the mood. PacWest Bancorp PACW.O tumbled 49.7% to a record low after confirming it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered recently on fears of a worsening banking crisis.
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Apple Inc AAPL.O shares fell 1%. PacWest Bancorp PACW.O tumbled 49.7% to a record low after confirming it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered recently on fears of a worsening banking crisis. The KBW Regional Banking index .KRX dropped 4.0%, while the S&P 500 Banks index .SPXBK fell 3.3%.
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16021.0
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2023-05-04 00:00:00 UTC
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2 Tech Stocks To Watch Now Amid Earnings
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AAPL
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https://www.nasdaq.com/articles/2-tech-stocks-to-watch-now-amid-earnings
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nan
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nan
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The tech sector has always been a key part of the world economy and a source of new and exciting discoveries in many industries. This quickly changing sector includes a wide variety of areas, such as software development, making computer hardware, artificial intelligence, cloud computing, and cybersecurity. The growth of the tech sector is mostly because of the huge increase in people using the internet, the spread of mobile devices, and the need for data-driven solutions. That’s why tech stocks have been a favorite choice for investors, as they can offer big growth potential and, often, great returns on investment.
When you invest in tech stocks, you’re putting your money into many different kinds of companies, from big, well-known leaders like Microsoft (NASDAQ: MSFT), Netflix (NASDAQ: NFLX), and Meta Platforms (NASDAQ: META) to smaller, creative startups working on the latest technologies. Even though the tech sector can be unpredictable, it has usually given strong returns for people who invest for a long time, especially if they can find and take advantage of new trends and big innovations.
However, investing in technology stocks can be risky. The fast changes in the tech world can lead to shifts in competition, and new, groundbreaking technologies can push out older, established companies. So, it’s really important for investors to do a lot of research and be careful before investing in tech stocks. This way, they can make sure they know about both the good opportunities and the risks involved. With that in mind, let’s take a look at two trending tech stocks to watch in the stock market that recently reported earnings.
Tech Stocks To Invest In [Or Avoid] Today
Apple Inc. (NASDAQ: AAPL)
Block Inc. (NYSE: SQ)
Apple (AAPL Stock)
First, Apple Inc. (AAPL) is a leading global technology company known for its notable consumer tech products such as the iPhone, iPad, Mac computers, and Apple Watch. They also offer various services like Apple Music, iCloud, and the App Store.
On Thursday afternoon, Apple announced its second quarter 2023 financial results. Apple reported earnings of $1.52 per share and total revenue of $94.8 billion for Q2 2023. This exceeded analysts’ expectations, which predicted earnings of $1.44 per share and revenue of $92.9 billion. Additionally, during the conference call, Apple mentioned that they expect a similar decrease in revenue for the third quarter, estimating around $80.88 billion.
Following this earnings release, shares of Apple stock closed Thursday’s after-hours trading session up by 2.49% at $169.92 a share.
Source: TD Ameritrade TOS
[Read More] Top Stocks To Buy Now? 2 Undervalued Stocks To Watch
Block (SQ Stock)
Second, Block Inc. (SQ), formerly known as Square, is a financial technology company that focuses on payment solutions for small and medium-sized businesses. They offer tools like point-of-sale systems, payment processing, and business management software. In addition to its core products, Block has expanded into areas like peer-to-peer payments with its popular Cash App, and they have started offering financial services such as business loans and stock trading.
Also on Thursday afternoon, Block reported better-than-expected first-quarter 2023 financial results. Diving in, the company posted earnings of $0.40 per share, with revenue of $5.0 billion. This is versus Wall Street’s estimates for the quarter, which were earnings of $0.34 per share, along with revenue of $4.6 billion. Moreover, revenue advanced by 26.0% compared to the same period, the year prior.
As a result of this news release, shares of SQ stock closed out Thursday’s after-hour trading higher by 2.35% at $61.85 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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Tech Stocks To Invest In [Or Avoid] Today Apple Inc. (NASDAQ: AAPL) Block Inc. (NYSE: SQ) Apple (AAPL Stock) First, Apple Inc. (AAPL) is a leading global technology company known for its notable consumer tech products such as the iPhone, iPad, Mac computers, and Apple Watch. Even though the tech sector can be unpredictable, it has usually given strong returns for people who invest for a long time, especially if they can find and take advantage of new trends and big innovations. In addition to its core products, Block has expanded into areas like peer-to-peer payments with its popular Cash App, and they have started offering financial services such as business loans and stock trading.
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Tech Stocks To Invest In [Or Avoid] Today Apple Inc. (NASDAQ: AAPL) Block Inc. (NYSE: SQ) Apple (AAPL Stock) First, Apple Inc. (AAPL) is a leading global technology company known for its notable consumer tech products such as the iPhone, iPad, Mac computers, and Apple Watch. Following this earnings release, shares of Apple stock closed Thursday’s after-hours trading session up by 2.49% at $169.92 a share. 2 Undervalued Stocks To Watch Block (SQ Stock) Second, Block Inc. (SQ), formerly known as Square, is a financial technology company that focuses on payment solutions for small and medium-sized businesses.
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Tech Stocks To Invest In [Or Avoid] Today Apple Inc. (NASDAQ: AAPL) Block Inc. (NYSE: SQ) Apple (AAPL Stock) First, Apple Inc. (AAPL) is a leading global technology company known for its notable consumer tech products such as the iPhone, iPad, Mac computers, and Apple Watch. When you invest in tech stocks, you’re putting your money into many different kinds of companies, from big, well-known leaders like Microsoft (NASDAQ: MSFT), Netflix (NASDAQ: NFLX), and Meta Platforms (NASDAQ: META) to smaller, creative startups working on the latest technologies. 2 Undervalued Stocks To Watch Block (SQ Stock) Second, Block Inc. (SQ), formerly known as Square, is a financial technology company that focuses on payment solutions for small and medium-sized businesses.
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Tech Stocks To Invest In [Or Avoid] Today Apple Inc. (NASDAQ: AAPL) Block Inc. (NYSE: SQ) Apple (AAPL Stock) First, Apple Inc. (AAPL) is a leading global technology company known for its notable consumer tech products such as the iPhone, iPad, Mac computers, and Apple Watch. Apple reported earnings of $1.52 per share and total revenue of $94.8 billion for Q2 2023. 2 Undervalued Stocks To Watch Block (SQ Stock) Second, Block Inc. (SQ), formerly known as Square, is a financial technology company that focuses on payment solutions for small and medium-sized businesses.
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16022.0
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2023-05-04 00:00:00 UTC
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Unusual Put Option Trade in Apple (AAPL) Worth $4,534.14K
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AAPL
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https://www.nasdaq.com/articles/unusual-put-option-trade-in-apple-aapl-worth-%244534.14k
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nan
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nan
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On May 4, 2023 at 10:15:24 ET an unusually large $4,534.14K block of Put contracts in Apple (AAPL) was sold, with a strike price of $165.00 / share, expiring in 106 day(s) (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 5.51 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in AAPL options.
This trade was first picked up on Fintel's real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 6410 funds or institutions reporting positions in Apple. This is an increase of 181 owner(s) or 2.91% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%. Total shares owned by institutions decreased in the last three months by 0.11% to 10,110,149K shares.
The put/call ratio of AAPL is 0.99, indicating a bullish outlook.
For more in-depth coverage of Apple, view the free, crowd-sourced company research report on Finpedia.
Analyst Price Forecast Suggests 3.86% Upside
As of April 24, 2023, the average one-year price target for Apple is 173.91. The forecasts range from a low of 117.16 to a high of $215.25. The average price target represents an increase of 3.86% from its latest reported closing price of 167.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 413,641MM, an increase of 6.74%. The projected annual non-GAAP EPS is 6.36.
What are Other Shareholders Doing?
Berkshire Hathaway holds 895,136K shares representing 5.66% ownership of the company. In it's prior filing, the firm reported owning 894,802K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in AAPL by 6.86% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 459,387K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 455,109K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in AAPL by 12.36% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 345,686K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 342,454K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in AAPL by 12.57% over the last quarter.
Geode Capital Management holds 282,750K shares representing 1.79% ownership of the company. In it's prior filing, the firm reported owning 279,759K shares, representing an increase of 1.06%. The firm decreased its portfolio allocation in AAPL by 12.15% over the last quarter.
Price T Rowe Associates holds 226,281K shares representing 1.43% ownership of the company. In it's prior filing, the firm reported owning 224,864K shares, representing an increase of 0.63%. The firm decreased its portfolio allocation in AAPL by 7.53% 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.
See all Apple regulatory filings.
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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On May 4, 2023 at 10:15:24 ET an unusually large $4,534.14K block of Put contracts in Apple (AAPL) was sold, with a strike price of $165.00 / share, expiring in 106 day(s) (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 5.51 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in AAPL options. Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%.
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On May 4, 2023 at 10:15:24 ET an unusually large $4,534.14K block of Put contracts in Apple (AAPL) was sold, with a strike price of $165.00 / share, expiring in 106 day(s) (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 5.51 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in AAPL options. Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%.
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On May 4, 2023 at 10:15:24 ET an unusually large $4,534.14K block of Put contracts in Apple (AAPL) was sold, with a strike price of $165.00 / share, expiring in 106 day(s) (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 5.51 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in AAPL options. Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%.
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On May 4, 2023 at 10:15:24 ET an unusually large $4,534.14K block of Put contracts in Apple (AAPL) was sold, with a strike price of $165.00 / share, expiring in 106 day(s) (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 5.51 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in AAPL options. Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%.
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16023.0
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2023-05-04 00:00:00 UTC
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Markets Down 4 Straight Sessions: Earnings from AAPL, EXPE, SQ & More
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AAPL
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https://www.nasdaq.com/articles/markets-down-4-straight-sessions%3A-earnings-from-aapl-expe-sq-more
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nan
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nan
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On the first full day of trading with a Fed funds rate average more than 5% for the first time in over 15 years, we began the day in the red and stayed there through the closing bell, for the fourth-straight down-day in the market indices. The Dow sheathed another -283 points, -0.85% — making it the second of the major indices to trade in negative territory (behind the small-cap Russell 2000) year to date — while the S&P 500 was -0.71%. The tech-heavy Nasdaq outperformed the field (and still up +15% year to date), down only -0.49%, while the Russell came in worst of all, -1.19%.
Further spread of destabilization in West Coast regional banks continues, with PacWest PACW apparently the next domino to fall following First Republic’s collapse earlier this week — or at least that’s what market participants are expressing. PACW has fallen a bracing -50% in today’s session alone, -66% for the past month and -86% year to date. Thus far, the Fed has not treated this regional bank issue as terribly important — if it did, we probably wouldn’t have seen another interest rate hike yesterday.
Meanwhile, after today’s close, we see a full parade of consumer-facing quarterly earnings results — and this is the part of the economy continuing to show resiliency. Don’t take my word for it, though. See with your own eyes:
The world’s largest gadget maker, Apple Inc. AAPL, recorded beats for both earnings in its fiscal Q2 — $1.52 per share versus $1.44 anticipated — and quarterly sales — $94.84 billion versus $93.32 billion expected. The iPhone alone brought in $51.33 billion for the three months reported, +1.5%, while the Mac and iPad continued to slow down: -31% and -13%, respectively. Services came in more than +5% higher year over year to $20.91 billion, but were still slightly below expectations.
Gross Margins of 44.3% were moderately better than the estimated 44.1%, as demand strength continues forward. Apple sees strength in China and especially India, where the company is reportedly expanding production. The company is also instituting a $90 billion share buyback and a dividend increase of 4% to 24 cents per share. Shares have gained +1.4% on the news in the after-market.
Expedia EXPE actually missed expectations on both top and bottom lines — negative earnings of -20 cents per share missed the $0.00 expected on $2.67 billion in sales, which was marginally shy of the Zacks consensus $2.69 billion. But the company sees Gross Bookings up +20%, and the company is buying back $600 million in shares, which has helped send EXPE stock +1.5% in late trading.
Expedia-competitor Booking.com BKNG shares are on an opposing track: the company beat estimates on both top and bottom lines, but shares are down in the after-market: earnings of $11.16 per share were above the $10.62 expected, on $3.78 billion which took out the $3.74 billion consensus. Gross Travel Bookings continued their strong trajectory from Q4, +44% year over year. But shares are giving back around -3% of the +28% growth in the stock, year to date.
DoorDash DASH shares have been ping-ponging on the news of its Q1 report, posting a better-than-expected loss of -41 cents per share from the -56 projected, on $2.04 billion in revenues which outpaced the $1.92 billion expected, +40% year over year. Gross Order Volume grew +29% year over year, with Total Orders +27% — another company holding onto its strength from the previous quarter. Shares have moved from -7% after the release to +4% at this hour.
Lyft LYFT is not so lucky at this hour — even on both top- and bottom-line beats in Q1: a positive +$0.07 per share versus an expected -$0.09 on $1.00 billion in sales which surpassed the $976.9 million anticipated, shares are tumbling -13% in late trading. Revenue guidance for Q2 is lighter than initial expected in our Zacks consensus, with adjusted EBITDA guidance notably lower than previously thought.
Coinbase COIN is seeing a big pop in the after-market: +6% on much-better-than-expected results in Q1: a loss per share of -34 cents is much better than the forecast -$1.44, and $773 million in quarterly revenues easily outpaced the $652.8 million consensus. Cost-cutting and a jump in subscriber revenue assisted Coinbase’s healthy quarter, although the company projects lower subscriber growth for the ongoing quarter.
Finally, Block SQ — cash payment platform and parent of Cash App, formerly known as Square Inc. — decisively outperformed expectations on both top and bottom lines after today’s close: earnings of 40 cents per share bettered the 31 cents predicted, while revenues of $4.99 billion swept past the $4.58 billion analysts were looking for. Full-year guidance is also improved, as customer engagement remains strong. Shares are +3.5% in late trading at this hour.
Questions or comments about this article and/or its author? Click here>>
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
Expedia Group, Inc. (EXPE) : Free Stock Analysis Report
PacWest Bancorp (PACW) : Free Stock Analysis Report
Block, Inc. (SQ) : Free Stock Analysis Report
Booking Holdings Inc. (BKNG) : Free Stock Analysis Report
Lyft, Inc. (LYFT) : Free Stock Analysis Report
DoorDash, Inc. (DASH) : Free Stock Analysis Report
Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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
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 world’s largest gadget maker, Apple Inc. AAPL, recorded beats for both earnings in its fiscal Q2 — $1.52 per share versus $1.44 anticipated — and quarterly sales — $94.84 billion versus $93.32 billion expected. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Expedia Group, Inc. (EXPE) : Free Stock Analysis Report PacWest Bancorp (PACW) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report Booking Holdings Inc. (BKNG) : Free Stock Analysis Report Lyft, Inc. (LYFT) : Free Stock Analysis Report DoorDash, Inc. (DASH) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report To read this article on Zacks.com click here. Further spread of destabilization in West Coast regional banks continues, with PacWest PACW apparently the next domino to fall following First Republic’s collapse earlier this week — or at least that’s what market participants are expressing.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Expedia Group, Inc. (EXPE) : Free Stock Analysis Report PacWest Bancorp (PACW) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report Booking Holdings Inc. (BKNG) : Free Stock Analysis Report Lyft, Inc. (LYFT) : Free Stock Analysis Report DoorDash, Inc. (DASH) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report To read this article on Zacks.com click here. The world’s largest gadget maker, Apple Inc. AAPL, recorded beats for both earnings in its fiscal Q2 — $1.52 per share versus $1.44 anticipated — and quarterly sales — $94.84 billion versus $93.32 billion expected. Expedia EXPE actually missed expectations on both top and bottom lines — negative earnings of -20 cents per share missed the $0.00 expected on $2.67 billion in sales, which was marginally shy of the Zacks consensus $2.69 billion.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Expedia Group, Inc. (EXPE) : Free Stock Analysis Report PacWest Bancorp (PACW) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report Booking Holdings Inc. (BKNG) : Free Stock Analysis Report Lyft, Inc. (LYFT) : Free Stock Analysis Report DoorDash, Inc. (DASH) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report To read this article on Zacks.com click here. The world’s largest gadget maker, Apple Inc. AAPL, recorded beats for both earnings in its fiscal Q2 — $1.52 per share versus $1.44 anticipated — and quarterly sales — $94.84 billion versus $93.32 billion expected. Expedia-competitor Booking.com BKNG shares are on an opposing track: the company beat estimates on both top and bottom lines, but shares are down in the after-market: earnings of $11.16 per share were above the $10.62 expected, on $3.78 billion which took out the $3.74 billion consensus.
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The world’s largest gadget maker, Apple Inc. AAPL, recorded beats for both earnings in its fiscal Q2 — $1.52 per share versus $1.44 anticipated — and quarterly sales — $94.84 billion versus $93.32 billion expected. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Expedia Group, Inc. (EXPE) : Free Stock Analysis Report PacWest Bancorp (PACW) : Free Stock Analysis Report Block, Inc. (SQ) : Free Stock Analysis Report Booking Holdings Inc. (BKNG) : Free Stock Analysis Report Lyft, Inc. (LYFT) : Free Stock Analysis Report DoorDash, Inc. (DASH) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report To read this article on Zacks.com click here. But shares are giving back around -3% of the +28% growth in the stock, year to date.
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16024.0
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2023-05-04 00:00:00 UTC
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Apple (AAPL) Q2 Earnings and Revenues Beat Estimates
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AAPL
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https://www.nasdaq.com/articles/apple-aapl-q2-earnings-and-revenues-beat-estimates
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nan
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Apple (AAPL) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.44 per share. This compares to earnings of $1.52 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 5.56%. A quarter ago, it was expected that this maker of iPhones, iPads and other products would post earnings of $1.93 per share when it actually produced earnings of $1.88, delivering a surprise of -2.59%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Apple, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $94.84 billion for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 1.63%. This compares to year-ago revenues of $97.28 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Apple shares have added about 28.9% since the beginning of the year versus the S&P 500's gain of 6.5%.
What's Next for Apple?
While Apple has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Apple: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.21 on $84.11 billion in revenues for the coming quarter and $6.01 on $387.99 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Mini computers is currently in the top 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, 3D Systems (DDD), has yet to report results for the quarter ended March 2023. The results are expected to be released on May 8.
This maker of 3D printers is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of -33.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
3D Systems' revenues are expected to be $130.38 million, down 2% from the year-ago quarter.
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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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) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.44 per share. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple (AAPL) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.44 per share. Apple, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $94.84 billion for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 1.63%.
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Apple (AAPL) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.44 per share. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $94.84 billion for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 1.63%.
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Apple (AAPL) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.44 per share. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report 3D Systems Corporation (DDD) : Free Stock Analysis Report To read this article on Zacks.com click here. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
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16025.0
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2023-05-04 00:00:00 UTC
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Apple Inc. Q2 Profit beats estimates
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AAPL
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https://www.nasdaq.com/articles/apple-inc.-q2-profit-beats-estimates
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(RTTNews) - Apple Inc. (AAPL) revealed earnings for second quarter that beat the Street estimates.
The company's earnings came in at $24.16 billion, or $1.52 per share. This compares with $25.01 billion, or $1.52 per share, in last year's second quarter.
Analysts on average had expected the company to earn $1.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 2.5% to $94.84 billion from $97.28 billion last year.
Apple Inc. earnings at a glance (GAAP) :
-Earnings (Q2): $24.16 Bln. vs. $25.01 Bln. last year. -EPS (Q2): $1.52 vs. $1.52 last year. -Analyst Estimates: $1.43 -Revenue (Q2): $94.84 Bln vs. $97.28 Bln last year.
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 earnings for second quarter that beat the Street estimates. Analysts on average had expected the company to earn $1.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
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(RTTNews) - Apple Inc. (AAPL) revealed earnings for second quarter that beat the Street estimates. Analysts' estimates typically exclude special items. The company's revenue for the quarter fell 2.5% to $94.84 billion from $97.28 billion last year.
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(RTTNews) - Apple Inc. (AAPL) revealed earnings for second quarter that beat the Street estimates. This compares with $25.01 billion, or $1.52 per share, in last year's second quarter. The company's revenue for the quarter fell 2.5% to $94.84 billion from $97.28 billion last year.
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(RTTNews) - Apple Inc. (AAPL) revealed earnings for second quarter that beat the Street estimates. The company's earnings came in at $24.16 billion, or $1.52 per share. Apple Inc. earnings at a glance (GAAP) : -Earnings (Q2): $24.16 Bln.
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16026.0
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2023-05-04 00:00:00 UTC
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Apple beats revenue, profit estimate on iPhone sales growth
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AAPL
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https://www.nasdaq.com/articles/apple-beats-revenue-profit-estimate-on-iphone-sales-growth-0
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By Stephen Nellis
May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook.
Apple said sales for its fiscal second quarter ended April 1 fell 2.5% to $94.84 billion, better than analyst expectations of a 4.4% decline to $93 billion, according to data from Refinitiv. Profit was flat at $1.52 per share, compared with estimates of a 5.7% fall to $1.43 per share, according to Refinitiv data.
Apple shares rose 2% in after-hours trading.
A 1.5% rise in Apple's iPhone revenue contrasted with the broader consumer electronics industry, which is grappling with a decline in sales of smartphones, tablets and PCs as consumers and businesses who scooped up electronics during the pandemic tighten spending amid rising interest rates and economic uncertainty. The company also held its dividend and stock buyback programs roughly in line with its last update to them a year ago, approving $90 billion in additional buybacks.
Apple CEO Tim Cook told Reuters in an interview on Thursday that the company set a fiscal second-quarter record for iPhone sales, thanks in part to picking up new users in markets such as India, where Cook recently traveled for the opening of the company's first retail stores in the country.
"We were thrilled by our performance in emerging markets," Cook said. "We set records for the iPhone installed base in every geographic segment, and we had very strong 'new to' (sales in) emerging markets, particularly in Brazil, India and Mexico."
Cook also said supply-chain snarls have vanished.
"We had no material shortages at all during the quarter across any of the products," he said.
But not all of Apple's business lines were immune to the electronics slump, with sales of Macs falling sharply while iPad revenue slipped. Sales in China also dropped 2.9% to $17.8 billion, a slightly larger drop than overall revenue.
Other firms in the industry have predicted a rebound in the second half of the year, and Wall Street expects Apple to recover faster and show modest year-over-year revenue growth during its fiscal third quarter ending in June.
Apple executives are expected to give a forecast on a conference call with investors later on Thursday.
Apple has in recent weeks announced new service businesses such as a high-yield savings account, but investors are still waiting to see the company's next major hardware product. Bloomberg has reported the iPhone maker could unveil a mixed-reality headset as soon as next month, when it holds its annual software developer conference.
IPhone sales rose 1.5% to $51.33 billion, compared with analyst expectations of a 3.3% decline to $48.9 billion, according to Refinitiv. Those results occurred against the backdrop of a 13% decline in global smartphone shipments during the first three months of 2023, during which the research firm Canalys said Apple gained market share against Android rivals.
Mac sales fell more than 30% to $7.17 billion compared with analyst estimates of a 25% decline to $7.8 billion, according to Refinitiv. Apple's sales fared only slightly better than PC unit shipments in the market, which fell 33% in the calendar first quarter, according to Canalys data.
Sales in Apple's wearables business, which includes devices like AirPods and the Apple Watch, fell less than 1% to $8.76 billion, compared with estimates of a 4.4% drop to $8.4 billion.
Apple's biggest growth segment was its services business, which includes products like iCloud and Apple Pay, which grew 5.5% to $20.9 billion, in line with analyst expectations. Cook said Apple now has 975 million subscribers on its platform, which includes both Apple services and third-party apps, up from 935 million last quarter and an increase of 150 million from a year ago.
Apple said its board of directors authorized a 24 cents-per- share dividend in addition to share repurchases. Both were roughly the same as the 23 cents-per-share dividend and previous $90 billion share repurchase increase the company announced a year ago.
(Reporting by Stephen Nellis in San Francisco and Yuvraj Malik in Bengaluru Editing by Peter Henderson and Matthew Lewis)
((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 May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook. Other firms in the industry have predicted a rebound in the second half of the year, and Wall Street expects Apple to recover faster and show modest year-over-year revenue growth during its fiscal third quarter ending in June. Apple has in recent weeks announced new service businesses such as a high-yield savings account, but investors are still waiting to see the company's next major hardware product.
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By Stephen Nellis May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook. Apple said sales for its fiscal second quarter ended April 1 fell 2.5% to $94.84 billion, better than analyst expectations of a 4.4% decline to $93 billion, according to data from Refinitiv. Both were roughly the same as the 23 cents-per-share dividend and previous $90 billion share repurchase increase the company announced a year ago.
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By Stephen Nellis May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook. Apple said sales for its fiscal second quarter ended April 1 fell 2.5% to $94.84 billion, better than analyst expectations of a 4.4% decline to $93 billion, according to data from Refinitiv. Sales in Apple's wearables business, which includes devices like AirPods and the Apple Watch, fell less than 1% to $8.76 billion, compared with estimates of a 4.4% drop to $8.4 billion.
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By Stephen Nellis May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook. Apple said sales for its fiscal second quarter ended April 1 fell 2.5% to $94.84 billion, better than analyst expectations of a 4.4% decline to $93 billion, according to data from Refinitiv. Profit was flat at $1.52 per share, compared with estimates of a 5.7% fall to $1.43 per share, according to Refinitiv data.
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16027.0
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2023-05-04 00:00:00 UTC
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GLOBAL MARKETS-Shares rise, dollar weakens on bank sector fears
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AAPL
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https://www.nasdaq.com/articles/global-markets-shares-rise-dollar-weakens-on-bank-sector-fears
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nan
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nan
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By Ankur Banerjee
SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered around its record highs on Friday, as jittery investors remained nervous about the U.S. banking sector following another rout in shares of regional lenders.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was 0.44% higher and was on course to snap its two-week losing streak. Japan remains shut for holiday, while Australia's S&P/ASX 200 index .AXJO fell 0.06%.
Wall Street ended lower on Thursday after Los Angeles-based PacWest Bancorp's PACW.O move to explore strategic options deepened fears about the health of U.S. lenders as pressure grows on regulators to take more steps to shore up the country's banking sector. .N
Shares of U.S. regional banks sank this week in the wake of the collapse of First Republic Bank over the weekend that has brought back fears of a financial sector crisis.
"With the dust barely settling post Wednesday's Fed meeting, banking sector developments have added to conviction not just that the Fed is done tightening, but that the Fed will be cutting rates before the end of the year and more aggressively than previously priced for," said Ray Attrill, head of FX strategy at National Australia Bank.
The Federal Reserve on Wednesday raised interest rates by 25 basis points, but hinted that its marathon hiking cycle may be ending.
Markets are pricing for the Fed to stand still at its next meeting in June but expect rate cuts from July, according to CME FedWatch tool.
Investor attention will also be on April nonfarm payroll data later in the day. Saxo Markets strategists said the report will be used to gauge the Fed's next move, whether that be a pause, or lead to some "additional policy firming".
"It is worth stressing there is plenty of data between now and the June 14 Fed meeting, with what happens in the banking sector being more key at the moment," they said.
Over in Europe, the European Central Bank raised interest rates by 25 basis points to 3.25% on Thursday and signalled that more tightening would be needed to tame inflation.
Having raised rates by the most in its 25-year history, the ECB, the central bank for the 20 countries that share the euro currency, is moderating the pace of monetary policy tightening in light of data showing the euro zone economy is barely growing and that banks are turning off the credit taps.
Markets though pared back their expectations on how much further rates would continue to rise.
Nick Rees, FX market analyst at Monex Europe, said it was clear that the ECB is now in the home stretch when it comes to monetary tightening, despite ECB President Christine Lagarde's attempt to steer markets away from this narrative.
China shares .SSEC rose 0.21%, while Hong Kong's Hang Seng index .HSI was up 0.6%, helping lift the region's shares.
China's service activity grew for a fourth straight month in April, a private-sector survey showed on Friday, as businesses continued to benefit from the country's reopening, although expansion slowed slightly.
The country's tourism rebounded to pre-COVID levels in the five-day May Day holidays as domestic travel rose by more than two-thirds from a year earlier, government data showed.
E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets.
In the currency market, the Japanese yen JPY=EBS strengthened 0.20% to 134.04 per dollar, on course for its first weekly gain in nearly a month due to safe haven demand. /FRX
Sterling GBP=D3 was last trading at $1.2591, up 0.15% on the day, while the euro EUR=EBS firmed 0.21% to $1.1034.
Against a basket of currencies, the dollar =USD eased 0.109%.
Spot gold XAU= was at $2,051.48 an ounce, not far from its all-time high of $2,072.49. GOL/
U.S. crude CLc1 rose 0.47% to $68.88 per barrel and Brent LCOc1 was at $72.82, up 0.44% on the day. O/R
World FX rates YTDhttp://tmsnrt.rs/2egbfVh
Asian stock marketshttps://tmsnrt.rs/2zpUAr4
(Editing by Jacqueline Wong)
((ankur.banerjee@thomsonreuters.com;; Mobile - +65 8121 3925; Twitter: @AnkurBanerjee17;))
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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E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets. By Ankur Banerjee SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered around its record highs on Friday, as jittery investors remained nervous about the U.S. banking sector following another rout in shares of regional lenders. Wall Street ended lower on Thursday after Los Angeles-based PacWest Bancorp's PACW.O move to explore strategic options deepened fears about the health of U.S. lenders as pressure grows on regulators to take more steps to shore up the country's banking sector.
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E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets. By Ankur Banerjee SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered around its record highs on Friday, as jittery investors remained nervous about the U.S. banking sector following another rout in shares of regional lenders. The Federal Reserve on Wednesday raised interest rates by 25 basis points, but hinted that its marathon hiking cycle may be ending.
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E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets. By Ankur Banerjee SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered around its record highs on Friday, as jittery investors remained nervous about the U.S. banking sector following another rout in shares of regional lenders. "With the dust barely settling post Wednesday's Fed meeting, banking sector developments have added to conviction not just that the Fed is done tightening, but that the Fed will be cutting rates before the end of the year and more aggressively than previously priced for," said Ray Attrill, head of FX strategy at National Australia Bank.
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E-mini futures for the S&P 500 EScv1 rose 0.35% after Apple Inc's AAPL.Oresults beat expectations, helped by better-than-expected iPhone sales and notable inroads in India and other newer markets. By Ankur Banerjee SINGAPORE, May 5 (Reuters) - Asian stocks rose, the dollar eased and gold hovered around its record highs on Friday, as jittery investors remained nervous about the U.S. banking sector following another rout in shares of regional lenders. Having raised rates by the most in its 25-year history, the ECB, the central bank for the 20 countries that share the euro currency, is moderating the pace of monetary policy tightening in light of data showing the euro zone economy is barely growing and that banks are turning off the credit taps.
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16028.0
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2023-05-04 00:00:00 UTC
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After-Hours Earnings Report for May 4, 2023 : AAPL, BKNG, EOG, MNST, MSI, FTNT, MCHP, AIG, ED, MTD, SQ, AEE
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AAPL
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https://www.nasdaq.com/articles/after-hours-earnings-report-for-may-4-2023-%3A-aapl-bkng-eog-mnst-msi-ftnt-mchp-aig-ed-mtd
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The following companies are expected to report earnings after hours on 05/04/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Apple Inc. (AAPL)is reporting for the quarter ending March 31, 2023. The computer company's consensus earnings per share forecast from the 12 analysts that follow the stock is $1.44. This value represents a 5.26% decrease compared to the same quarter last year. AAPL missed the consensus earnings per share in the 4th calendar quarter of 2022 by -2.59%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for AAPL is 27.86 vs. an industry ratio of 7.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Booking Holdings Inc. (BKNG)is reporting for the quarter ending March 31, 2023. The internet company's consensus earnings per share forecast from the 8 analysts that follow the stock is $10.61. This value represents a 172.05% increase compared to the same quarter last year. In the past year BKNG has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 17.98%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for BKNG is 20.21 vs. an industry ratio of 3.50, implying that they will have a higher earnings growth than their competitors in the same industry.
EOG Resources, Inc. (EOG)is reporting for the quarter ending March 31, 2023. The oil (us exp & production) company's consensus earnings per share forecast from the 11 analysts that follow the stock is $2.42. This value represents a 39.50% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for EOG is 9.44 vs. an industry ratio of 7.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Monster Beverage Corporation (MNST)is reporting for the quarter ending March 31, 2023. The beverages company's consensus earnings per share forecast from the 11 analysts that follow the stock is $0.34. This value represents a 21.43% increase compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for MNST is 39.17 vs. an industry ratio of -15.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Motorola Solutions, Inc. (MSI)is reporting for the quarter ending March 31, 2023. The wireless equipment company's consensus earnings per share forecast from the 6 analysts that follow the stock is $1.80. This value represents a 17.65% increase compared to the same quarter last year. In the past year MSI has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 5.63%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for MSI is 28.63 vs. an industry ratio of 11.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Fortinet, Inc. (FTNT)is reporting for the quarter ending March 31, 2023. The internet software company's consensus earnings per share forecast from the 13 analysts that follow the stock is $0.22. This value represents a 29.41% increase compared to the same quarter last year. In the past year FTNT has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 18.75%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for FTNT is 53.06 vs. an industry ratio of -48.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Microchip Technology Incorporated (MCHP)is reporting for the quarter ending March 31, 2023. The semiconductor company's consensus earnings per share forecast from the 11 analysts that follow the stock is $1.55. This value represents a 23.02% increase compared to the same quarter last year. In the past year MCHP has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2023 Price to Earnings ratio for MCHP is 13.31 vs. an industry ratio of 7.20, implying that they will have a higher earnings growth than their competitors in the same industry.
American International Group, Inc. (AIG)is reporting for the quarter ending March 31, 2023. The insurance company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.43. This value represents a 10.00% increase compared to the same quarter last year. AIG missed the consensus earnings per share in the 2nd calendar quarter of 2022 by -3.25%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for AIG is 8.38 vs. an industry ratio of 15.10.
Consolidated Edison Inc (ED)is reporting for the quarter ending March 31, 2023. The electric power utilities company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.62. This value represents a 10.20% increase compared to the same quarter last year. ED missed the consensus earnings per share in the 1st calendar quarter of 2022 by -2.65%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for ED is 20.21 vs. an industry ratio of -14.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Mettler-Toledo International, Inc. (MTD)is reporting for the quarter ending March 31, 2023. The scientific instrument company's consensus earnings per share forecast from the 5 analysts that follow the stock is $8.61. This value represents a 9.40% increase compared to the same quarter last year. In the past year MTD has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 4.04%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for MTD is 33.91 vs. an industry ratio of 25.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Block, Inc. (SQ)is reporting for the quarter ending March 31, 2023. The technology services company's consensus earnings per share forecast from the 10 analysts that follow the stock is $-0.11. This value represents a 57.69% increase compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for SQ is -847.43 vs. an industry ratio of -20.80.
Ameren Corporation (AEE)is reporting for the quarter ending March 31, 2023. The electric power utilities company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.94. This value represents a 3.09% decrease compared to the same quarter last year. AEE missed the consensus earnings per share in the 2nd calendar quarter of 2022 by -1.23%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for AEE is 20.38 vs. an industry ratio of -14.20, implying that they will have a higher earnings growth than their competitors in the same industry.
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 reporting for the quarter ending March 31, 2023. AAPL missed the consensus earnings per share in the 4th calendar quarter of 2022 by -2.59%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for AAPL is 27.86 vs. an industry ratio of 7.20, implying that they will have a higher earnings growth than their competitors in the same industry.
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Zacks Investment Research reports that the 2023 Price to Earnings ratio for AAPL is 27.86 vs. an industry ratio of 7.20, implying that they will have a higher earnings growth than their competitors in the same industry. Apple Inc. (AAPL)is reporting for the quarter ending March 31, 2023. AAPL missed the consensus earnings per share in the 4th calendar quarter of 2022 by -2.59%.
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Apple Inc. (AAPL)is reporting for the quarter ending March 31, 2023. AAPL missed the consensus earnings per share in the 4th calendar quarter of 2022 by -2.59%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for AAPL is 27.86 vs. an industry ratio of 7.20, implying that they will have a higher earnings growth than their competitors in the same industry.
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Apple Inc. (AAPL)is reporting for the quarter ending March 31, 2023. AAPL missed the consensus earnings per share in the 4th calendar quarter of 2022 by -2.59%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for AAPL is 27.86 vs. an industry ratio of 7.20, implying that they will have a higher earnings growth than their competitors in the same industry.
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16029.0
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2023-05-04 00:00:00 UTC
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The 3 Most Promising BNPL Fintechs to Watch in May 2023
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AAPL
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https://www.nasdaq.com/articles/the-3-most-promising-bnpl-fintechs-to-watch-in-may-2023
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
While controversial, the buy now, pay later (BNPL) sector is booming. Currently, a handful of companies dominate the BNPL space. However, new and notable companies are entering the sector, especially in financial technology (fintech), attracted by the prospect of big profits. That has Investors looking into which BNPL fintech stock picks will net them the largest returns.
Some consumer groups and lawmakers criticize the BNPL industry’s business model of providing high-interest loans to consumers that they must repay in equal installments over a set period of time. The critics claim that BNPL traps consumers in a cycle of debt that can be difficult to break. Some buy now, pay later firms have been accused of predatory lending practices and politicians in Washington, D.C. continue to threaten regulatory action against the industry. Despite those issues, BNPL continues to be a popular payment option, particularly among consumers under age 35.
Here are the three most promising BNPL fintech growth stocks to watch in May 2023.
Apple (AAPL)
Source: sylv1rob1 / Shutterstock.com
U.S. technology giant Apple (NASDAQ:AAPL) has launched a new buy now, pay later service that allows consumers to split purchases into four equal payments spread over a six-week period. Called Apple Pay Later, the new service enables people to track and repay their loans using their digital Apple Wallet. Users can apply for loans from Apple for anywhere from $50 to $1,000 and use those loans for in-app and online purchases. Apple is touting that payments made through its new BNPL service have no interest and no fees.
Apple is also promoting that consumers can apply for a loan within the Apple Wallet app without it impacting their credit score. Additionally, merchants that accept Apple Pay do not need to make any changes to implement the new BNPL service. The move into buy now, pay later comes as Apple moves deeper into banking and online finance. Shortly after its BNPL service was announced, Apple came out with a new high-interest savings account that offers 4.15% interest on deposits. AAPL stock has increased 7% in the last 12 months.
PayPal (PYPL)
Source: Michael Vi / Shutterstock.com
Fintech giant PayPal (NASDAQ:PYPL) is all-in on BNPL, what they call Pay In 4. The company announced last summer that it is pushing further into buy now, pay later by offering installment loans on bigger purchases. Consumers can now make monthly installment payments on purchases of $199 to $10,000 for up to two years. However, as with most BNPL services, the interest charged by PayPal on these larger loans is not cheap and could be as high as 29.99%. Consumers also need credit approval to secure a bigger loan.
PayPal has been in the BNPL fintech space for going on three years now. It originally followed the path of other companies, offering consumers small loans that they could repay in four equal payments spread over six weeks. But now, the company is branching out with larger loans and repayment periods spread across longer time frames. While some analysts call the strategy risky, PayPal has benefited from BNPL, processing more than 100 million transactions worth more than $15 billion since 2020. PYPL stock is down 20% over the last 12 months.
Affirm Holdings (AFRM)
Source: Piotr Swat / Shutterstock.com
It’s had a rough ride, but there may now be signs that the stock of BNPL company Affirm Holdings (NASDAQ:AFRM) has bottomed. Year-to-date, AFRM stock is flat with its share price hovering just below $10 since the start of the year. Any movement higher at this point would be welcomed by shareholders following a 70% plunge in the share price over the past 12 months.
Holding AFRM stock back is the fact that the BNPL company behind it remains unprofitable. However, Affirm continues to grow at a fast rate, announcing in February that the number of consumers using its buy now, pay later service rose an incredible 150% year-over-year to 11.2 million people. Revenues generated in its most recent quarter were up 77% from a year ago at $361 million. While Affirm is still operating in the red and remains in start-up mode, its BNPL business shows signs of continued strength.
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.
The post The 3 Most Promising BNPL Fintechs to Watch in May 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: sylv1rob1 / Shutterstock.com U.S. technology giant Apple (NASDAQ:AAPL) has launched a new buy now, pay later service that allows consumers to split purchases into four equal payments spread over a six-week period. AAPL stock has increased 7% in the last 12 months. On the date of publication, Joel Baglole held a long position in AAPL.
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Apple (AAPL) Source: sylv1rob1 / Shutterstock.com U.S. technology giant Apple (NASDAQ:AAPL) has launched a new buy now, pay later service that allows consumers to split purchases into four equal payments spread over a six-week period. AAPL stock has increased 7% in the last 12 months. On the date of publication, Joel Baglole held a long position in AAPL.
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Apple (AAPL) Source: sylv1rob1 / Shutterstock.com U.S. technology giant Apple (NASDAQ:AAPL) has launched a new buy now, pay later service that allows consumers to split purchases into four equal payments spread over a six-week period. AAPL stock has increased 7% in the last 12 months. On the date of publication, Joel Baglole held a long position in AAPL.
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Apple (AAPL) Source: sylv1rob1 / Shutterstock.com U.S. technology giant Apple (NASDAQ:AAPL) has launched a new buy now, pay later service that allows consumers to split purchases into four equal payments spread over a six-week period. AAPL stock has increased 7% in the last 12 months. On the date of publication, Joel Baglole held a long position in AAPL.
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16030.0
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2023-05-04 00:00:00 UTC
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US STOCKS-Wall Street ends down as PacWest fuels fears of deeper bank crisis
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-down-as-pacwest-fuels-fears-of-deeper-bank-crisis
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nan
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nan
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By Noel Randewich and Ankika Biswas
May 4 (Reuters) - Wall Street ended lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players.
PacWest Bancorp PACW.Otumbled after it confirmed it was exploring strategic options, including a sale. Shares of the regional lender and other banks got hammered recently on fears of a worsening banking crisis.
Western Alliance Bancorp WAL.Nplummeted, with trading in the stock halted multiple times. At its session low, Western Alliance shares were down more than 60% and the lender denied a report that it was exploring a potential sale.
KeyCorp KEY.N, Valley National Bancorp VLY.O and Zions Bancorp ZION.Oalso fell. The KBW Regional Banking index .KRX dropped as much as 7%.
Canada's Toronto-Dominion Bank Group TD.TOcalled off its $13.4 billion acquisition of First Horizon Corp FHN.N, triggering a deep decline in the U.S. bank's shares.
"Regional banks and tightening credit conditions are weighing on the market as investors try to recalibrate on where we are in terms of credit cycles and bank lending standards, and when a potential recession may hit," said Zhe Shen, managing director of diversifying strategies at TIFF Investment Management.
The CBOE volatility index .VIX, also known as Wall Street's fear gauge, rose to as much as 21 points, its highest since late March.
According to preliminary data, the S&P 500 .SPX lost 29.99 points, or 0.73%, to end at 4,060.76 points, while the Nasdaq Composite .IXIC lost 61.39 points, or 0.51%, to 11,963.94. The Dow Jones Industrial Average .DJI fell 292.18 points, or 0.87%, to 33,122.06.
On Sunday, regulators seized troubled First Republic Bank and JPMorgan Chase JPM.N agreed to buy majority of its assets, marking the largest U.S. bank failure since the 2008 financial crisis.
With investors increasingly worried a widening banking crisis and an economic downturn, U.S. interest rate futures prices now imply traders mostly expect the U.S. Federal Reserve to cut rates by the central bank's July meeting, according to CME Group's FedWatch Tool.
The Fed on Wednesday raised interest rates by 25 basis points, while Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
Among the largest U.S. banks, JPMorgan JPM.N and Wells Fargo WFC.Nalso lost ground.
Data on Thursday showed the number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy.
Apple Inc AAPL.O dipped, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks.
ROBOT
Moderna Inc MRNA.Ojumped followingstronger-than-expected sales for its COVID-19 vaccine for the first quarter.
Qualcomm Inc QCOM.Oslumped after the chip designer's third-quarter forecasts missed estimates, while Paramount Global Inc PARA.O tanked about 27% after missing first-quarter revenue estimates amid a weak advertising market in its TV business.
Stocks and the Fedhttps://tmsnrt.rs/3AUufR0
S&P 500 stocks by turnoverhttps://tmsnrt.rs/3oZqU03
(Reporting by Ankika Biswas and Sruthi Shankar in Bengaluru, and by Noel Randewich in Oakland, Calif.; Additional reporting by Caroline Mandl in New York; editing by Shounak Dasgupta and David Gregorio)
((noel.randewich@tr.com; Twitter: @randewich))
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.O dipped, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks. The Fed on Wednesday raised interest rates by 25 basis points, while Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern. Data on Thursday showed the number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy.
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Apple Inc AAPL.O dipped, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks. By Noel Randewich and Ankika Biswas May 4 (Reuters) - Wall Street ended lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players. PacWest Bancorp PACW.Otumbled after it confirmed it was exploring strategic options, including a sale.
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Apple Inc AAPL.O dipped, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks. By Noel Randewich and Ankika Biswas May 4 (Reuters) - Wall Street ended lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players. "Regional banks and tightening credit conditions are weighing on the market as investors try to recalibrate on where we are in terms of credit cycles and bank lending standards, and when a potential recession may hit," said Zhe Shen, managing director of diversifying strategies at TIFF Investment Management.
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Apple Inc AAPL.O dipped, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks. By Noel Randewich and Ankika Biswas May 4 (Reuters) - Wall Street ended lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players. PacWest Bancorp PACW.Otumbled after it confirmed it was exploring strategic options, including a sale.
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16031.0
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2023-05-04 00:00:00 UTC
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GLOBAL MARKETS-Stocks sag, dollar gains as investors eye central bank news, weakening economy
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AAPL
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https://www.nasdaq.com/articles/global-markets-stocks-sag-dollar-gains-as-investors-eye-central-bank-news-weakening-0
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nan
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nan
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By Sinéad Carew and Marc Jones
NEW YORK, LONDON, May 4 (Reuters) - A global measure of stocks was lower while the dollar gained some ground as the European Central Bank raised rates on Thursday and signalled the need for more tightening a day after the U.S. Federal Reserve also raised rates.
U.S. Treasury yields were lower while oil prices slowed their decline after a massive two-day sell off.
Along with investor indigestion over central bank messaging, Wall Street stock indexes were also under pressure from another rout in U.S. bank shares, which have reeled from the collapse of a third major regional bank over the weekend.
European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation.
In contrast to the ECB, the Fed had implied that its marathon hiking cycle may be drawing to a close.
While the idea of a pause in U.S. rate hikes was welcome news for U.S. investors, it comes with the implication that the economy is slowing, said Lauren Goodwin, economist and portfolio strategist at New York Life Investments in New York.
"This balance between potential interest rate stability and an increase in recession risk is what markets are trying to digest today," said Goodwin.
In particular, the economist saw the Fed's reference to tightening credit conditions as a confirmation of her expectations of an economic downturn.
"It's highly unlikely we'll avoid a recession," Goodwin said. "We're on a clear path toward a recession in the next few months."
The Dow Jones Industrial Average .DJI fell 318.12 points, or 0.95%, to 33,096.12, the S&P 500 .SPX lost 29.89 points, or 0.73%, to 4,060.86 and the Nasdaq Composite .IXIC dropped 54.36 points, or 0.45%, to 11,970.97.
The pan-European STOXX 600 index .STOXX had closed down 0.47% and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.43%.
Emerging market stocks .MSCIEF rose 0.75%.
Adding to investor worries, another U.S. regional bank - PacWest Bancorp PACW.O - signalled troubles days after First Republic FRC.N collapsed.
Among currencies, the dollar gained against the euro as investors digested the ECB's rate hike and commentary as well as the Fed's hike and its indication that it may pause.
The dollar index =USD rose 0.158%, with the euro EUR= down 0.42% to $1.1013.
The Japanese yen strengthened 0.48% versus the greenback at 134.04 per dollar, while Sterling GBP= was last trading at $1.2578, up 0.11% on the day.
In Treasuries, yields fell on Thursday as investors worried about regional banks and signs of a weakening economy.
Benchmark 10-year notes US10YT=RR were down 5.4 basis points to 3.349%, from 3.403% late on Wednesday. The 30-year bond US30YT=RR was last up 0.6 basis points to yield 3.7207%, from 3.715%. The 2-year note US2YT=RR was last was down 21.9 basis points to yield 3.7204%, from 3.939%.
In energy, crude oil prices stabilized after three straight days of sharp declines due to demand concerns in major consuming countries resulting from worries about the global economy.
U.S. crude CLc1 settled down 0.06% at $68.56 per barrel and Brent LCOc1 ended at $72.50, up 0.24% on the day.
Meanwhile, spot gold had touched its highest level in years as U.S. banking concerns accelerated a flight to the safe-haven asset and sustained its stellar rally driven by bets for a pause in U.S. rate hikes.
Spot gold XAU= added 0.5% to $2,049.67 an ounce. U.S. gold futures GCc1 gained 0.95% to $2,047.90 an ounce.
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging marketshttp://tmsnrt.rs/2ihRugV
MSCI All Country World Index Market Caphttp://tmsnrt.rs/2EmTD6j
Fed hikes rates to levels last seen before financial crisishttps://tmsnrt.rs/3NA8oFO
The race to raise rateshttps://tmsnrt.rs/3ALpJ7b
ECB hawkishness to moderatehttps://tmsnrt.rs/44226op
(Additional reporting by Harry Robertson in London and Rae Wee in Singapore; Editing by Christina Fincher, Toby Chopra and Deepa Babington)
((sinead.carew@thomsonreuters.com; +13322191897))
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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European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation. Meanwhile, spot gold had touched its highest level in years as U.S. banking concerns accelerated a flight to the safe-haven asset and sustained its stellar rally driven by bets for a pause in U.S. rate hikes. Global currencies vs. dollar http://tmsnrt.rs/2egbfVh Emerging marketshttp://tmsnrt.rs/2ihRugV MSCI All Country World Index Market Caphttp://tmsnrt.rs/2EmTD6j Fed hikes rates to levels last seen before financial crisishttps://tmsnrt.rs/3NA8oFO The race to raise rateshttps://tmsnrt.rs/3ALpJ7b ECB hawkishness to moderatehttps://tmsnrt.rs/44226op (Additional reporting by Harry Robertson in London and Rae Wee in Singapore; Editing by Christina Fincher, Toby Chopra and Deepa Babington) ((sinead.carew@thomsonreuters.com; +13322191897)) 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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European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation. In Treasuries, yields fell on Thursday as investors worried about regional banks and signs of a weakening economy. Global currencies vs. dollar http://tmsnrt.rs/2egbfVh Emerging marketshttp://tmsnrt.rs/2ihRugV MSCI All Country World Index Market Caphttp://tmsnrt.rs/2EmTD6j Fed hikes rates to levels last seen before financial crisishttps://tmsnrt.rs/3NA8oFO The race to raise rateshttps://tmsnrt.rs/3ALpJ7b ECB hawkishness to moderatehttps://tmsnrt.rs/44226op (Additional reporting by Harry Robertson in London and Rae Wee in Singapore; Editing by Christina Fincher, Toby Chopra and Deepa Babington) ((sinead.carew@thomsonreuters.com; +13322191897)) 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 Sinéad Carew and Marc Jones NEW YORK, LONDON, May 4 (Reuters) - A global measure of stocks was lower while the dollar gained some ground as the European Central Bank raised rates on Thursday and signalled the need for more tightening a day after the U.S. Federal Reserve also raised rates. European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation. Global currencies vs. dollar http://tmsnrt.rs/2egbfVh Emerging marketshttp://tmsnrt.rs/2ihRugV MSCI All Country World Index Market Caphttp://tmsnrt.rs/2EmTD6j Fed hikes rates to levels last seen before financial crisishttps://tmsnrt.rs/3NA8oFO The race to raise rateshttps://tmsnrt.rs/3ALpJ7b ECB hawkishness to moderatehttps://tmsnrt.rs/44226op (Additional reporting by Harry Robertson in London and Rae Wee in Singapore; Editing by Christina Fincher, Toby Chopra and Deepa Babington) ((sinead.carew@thomsonreuters.com; +13322191897)) 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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European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation. Among currencies, the dollar gained against the euro as investors digested the ECB's rate hike and commentary as well as the Fed's hike and its indication that it may pause. In Treasuries, yields fell on Thursday as investors worried about regional banks and signs of a weakening economy.
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16032.0
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2023-05-04 00:00:00 UTC
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US STOCKS-Wall Street drops as PacWest fuels fears of deeper bank crisis
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-drops-as-pacwest-fuels-fears-of-deeper-bank-crisis
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nan
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nan
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By Noel Randewich and Ankika Biswas
May 4 (Reuters) - Wall Street fell on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players.
PacWest Bancorp PACW.Otumbled 43% after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered recently on fears of a worsening banking crisis.
The fears reverberated across other lenders. Western Alliance Bancorp WAL.N tumbled 35%, with trading in the stock halted multiple times. At its session low, Western Alliance shares were down more than 60% and the lender denied a report that it was exploring a potential sale.
KeyCorp KEY.N, Valley National Bancorp VLY.O and Zions Bancorp ZION.O fell between 4% and 12%. The KBW Regional Banking index .KRX dropped 3%.
Regulators seized troubled First Republic Bank on Sunday and JPMorgan Chase JPM.N agreed to buy majority of its assets, marking the largest U.S. bank failure since the 2008 financial crisis.
"Regional banks and tightening credit conditions are weighing on the market as investors try to recalibrate on where we are in terms of credit cycles and bank lending standards, and when a potential recession may hit," said Zhe Shen, managing director of diversifying strategies at TIFF Investment Management.
The CBOE volatility index .VIX, also known as Wall Street's fear gauge, rose to 21 points to touch its highest since late March.
With investors increasingly worried a widening banking crisis and an economic downturn, U.S. interest rate futures prices now imply traders expect the U.S. Federal Reserve to cut rates by the central bank's July meeting, according to CME Group's FedWatch Tool.
The Fed on Wednesday raised interest rates by 25 basis points, while Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
Of the 11 S&P 500 sector indexes, nine declined, led lower by financials .SPSY, down 1.29%, followed by a 0.97% loss in health care .SPXHC.
Among the largest U.S. banks, JPMorgan JPM.N dropped 1.3% and Wells Fargo WFC.N lost 4.3%.
Data on Thursday showed the number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy.
Apple Inc AAPL.O fell 0.7%. The iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks.
The S&P 500 was down 0.51% at 4,069.72 points.
The Nasdaq declined 0.16% to 12,006.67 points, while the Dow Jones Industrial Average was down 0.93% at 33,104.20 points.
Moderna Inc MRNA.O jumped 3.6% on stronger-than-expected sales for its COVID-19 vaccine for the first quarter.
Qualcomm Inc QCOM.Oslumped 5.7% after the chip designer's third-quarter forecasts missed estimates, while Paramount Global Inc PARA.O tanked about 27% after missing first-quarter revenue estimates amid a weak advertising market in its TV business.
Declining stocks outnumbered rising ones within the S&P 500 .AD.SPX by a 2.0-to-one ratio.
The S&P 500 posted 4 new highs and 26 new lows; the Nasdaq recorded 41 new highs and 392 new lows.
Stocks and the Fedhttps://tmsnrt.rs/3AUufR0
S&P 500 stocks by turnoverhttps://tmsnrt.rs/3oZqU03
(Reporting by Ankika Biswas and Sruthi Shankar in Bengaluru, and by Noel Randewich in Oakland, Calif.; Additional reporting by Caroline Mandl in New York; editing by Shounak Dasgupta and David Gregorio)
((noel.randewich@tr.com; Twitter: @randewich))
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.O fell 0.7%. PacWest Bancorp PACW.Otumbled 43% after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered recently on fears of a worsening banking crisis. The Fed on Wednesday raised interest rates by 25 basis points, while Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
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Apple Inc AAPL.O fell 0.7%. By Noel Randewich and Ankika Biswas May 4 (Reuters) - Wall Street fell on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players. PacWest Bancorp PACW.Otumbled 43% after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered recently on fears of a worsening banking crisis.
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Apple Inc AAPL.O fell 0.7%. By Noel Randewich and Ankika Biswas May 4 (Reuters) - Wall Street fell on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players. PacWest Bancorp PACW.Otumbled 43% after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered recently on fears of a worsening banking crisis.
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Apple Inc AAPL.O fell 0.7%. By Noel Randewich and Ankika Biswas May 4 (Reuters) - Wall Street fell on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players. At its session low, Western Alliance shares were down more than 60% and the lender denied a report that it was exploring a potential sale.
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16033.0
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2023-05-04 00:00:00 UTC
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PREVIEW-Buffett set for 59th shareholder marathon as big questions loom
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AAPL
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https://www.nasdaq.com/articles/preview-buffett-set-for-59th-shareholder-marathon-as-big-questions-loom
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nan
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nan
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By Jonathan Stempel
OMAHA, Nebraska, May 4 (Reuters) - Warren Buffett is set to preside over Berkshire Hathaway Inc's BRKa.N annual meeting for the 59th time on Saturday as investors make their pilgrimage to hear the investing legend, at a time of turmoil for the banking industry and as trouble looms for the economy.
Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." Attendance is expected to be up significantly from last year, which was the first in-person meeting since the pandemic began, Buffett's assistant said.
While Berkshire has a succession plan in place, with Vice Chairman Greg Abel slated to succeed Buffett as CEO, investors know that their time to see and hear Buffett and longtime Vice Chairman Charlie Munger is limited.
"Even though I've gone for 32 or 33 years, it's enjoyable, uplifting, and you're always learning something new," Paul Lountzis, who makes Berkshire his largest investment at Lountzis Asset Management LLC in Wyomissing, Pennsylvania.
"Charlie is 99 and Warren turns 93 on Aug. 30," Lountzis added, "and you just don't know how many more you're going to have."
Buffett and Munger are due to answer five hours of shareholder questions at the meeting. Abel, who oversees Berkshire's dozens of non-insurance businesses, and Vice Chairman Ajit Jain, who oversees insurance operations, will join in the morning.
Berkshire has had a succession plan since at least 2006 when Buffett, then 75, told shareholders his board would "show me the door" if his "decay" required it.
Under that plan, Buffett's eldest son Howard would become non-executive chairman, in part to preserve Berkshire's culture. Todd Combs and Ted Weschler, who oversee some of Berkshire's investment portfolio, may take over all of it.
INVESTMENT QUESTIONS ARE LOOMING
Buffett may be asked to address recent U.S. bank seizures, Federal Reserve efforts to fend off inflation while avoiding recession, and the potential fallout if lawmakers in Washington do not raise the ceiling on how much debt the federal government can take on.
Among Berkshire's largest bank and financial services investments as of Dec. 31 were Bank of America Corp BAC.N, American Express Co AXP.N, Citigroup Inc C.N and Bank of New York Mellon Corp BK.N.
Other questions may address Buffett's own huge investments in Apple Inc AAPL.O and Occidental Petroleum Corp OXY.N, or his now-uncertain bet that video game maker Activision Blizzard Inc ATVI.O can be acquired by Microsoft Corp MSFT.O.
While Berkshire no longer far outperforms markets over long periods as it did in Buffett's early days, in the past decade it has slightly outpaced the Standard & Poor's 500 .SPX including dividends, often with less volatility.
And Berkshire has kept growing, with Buffett spending $19.7 billion since October to buy the Alleghany insurance company and a larger stake in truck stop operator Pilot Travel Centers.
Analysts expect Berkshire on Saturday to report more than $7 billion of first-quarter profit from its dozens of businesses including the BNSF railroad, Geico car insurance and many energy, manufacturing and retail operations.
Morningstar analyst Geoffrey Warren this week lauded Berkshire's "decentralized business model, broad business diversification, high cash-generation capabilities and unmatched business strength," while lamenting its "lack of engagement and opaqueness" on governance issues.
While it is unclear whether Abel could ever command the trust that investors have in Buffett, many hope he would maintain the culture that Buffett views as a key to Berkshire successes.
"It is precisely because Berkshire is decentralized and its businesses have their own CEOs that the company will do well in the post-Buffett era," said James Armstrong, who runs Henry H. Armstrong Associates in Pittsburgh and first invested in Berkshire 35 years ago.
SIX PROPOSALS TO BE PRESENTED
Still, some shareholders do want change.
At the meeting, shareholders are due to present six proposals for Berkshire to address including on climate change, diversity and political advocacy, and a renewed call for Berkshire to install someone other than Buffett as chairman.
Buffett opposes all six proposals.
The largest U.S. public pension fund, the $455 billion California Public Employees' Retirement System (CalPERS), for a third straight year wants Berkshire to report annually on how it addresses climate change. Just over a quarter of votes in 2021 and 2022 supported the idea.
"CalPERS views climate risk as a risk to our portfolio over the long term," and is not singling out Berkshire, Drew Hambly, a CalPERS investment director and head of corporate governance in equities, said in an interview.
Meanwhile, a proposal from Illinois state Treasurer Michael Frerichs asks Berkshire's board to disclose how the company governs climate risks, including through its audit committee.
"We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview. "By the nature of who he is, a lot of investors would follow his lead. We would like to see him lead."
Buffett's control of 32% of Berkshire's voting power makes passage of the proposals an uphill battle.
Not all shareholders consider such proposals necessary.
"They are important issues but they are not paramount," Lountzis said.
FACTBOX-Warren Buffett, Berkshire Hathaway at a glance
(Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Will Dunham and Megan Davies)
((jon.stempel@thomsonreuters.com; +1 646 223 6317))
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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Other questions may address Buffett's own huge investments in Apple Inc AAPL.O and Occidental Petroleum Corp OXY.N, or his now-uncertain bet that video game maker Activision Blizzard Inc ATVI.O can be acquired by Microsoft Corp MSFT.O. While Berkshire no longer far outperforms markets over long periods as it did in Buffett's early days, in the past decade it has slightly outpaced the Standard & Poor's 500 .SPX including dividends, often with less volatility. And Berkshire has kept growing, with Buffett spending $19.7 billion since October to buy the Alleghany insurance company and a larger stake in truck stop operator Pilot Travel Centers.
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Other questions may address Buffett's own huge investments in Apple Inc AAPL.O and Occidental Petroleum Corp OXY.N, or his now-uncertain bet that video game maker Activision Blizzard Inc ATVI.O can be acquired by Microsoft Corp MSFT.O. While Berkshire has a succession plan in place, with Vice Chairman Greg Abel slated to succeed Buffett as CEO, investors know that their time to see and hear Buffett and longtime Vice Chairman Charlie Munger is limited. Abel, who oversees Berkshire's dozens of non-insurance businesses, and Vice Chairman Ajit Jain, who oversees insurance operations, will join in the morning.
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Other questions may address Buffett's own huge investments in Apple Inc AAPL.O and Occidental Petroleum Corp OXY.N, or his now-uncertain bet that video game maker Activision Blizzard Inc ATVI.O can be acquired by Microsoft Corp MSFT.O. By Jonathan Stempel OMAHA, Nebraska, May 4 (Reuters) - Warren Buffett is set to preside over Berkshire Hathaway Inc's BRKa.N annual meeting for the 59th time on Saturday as investors make their pilgrimage to hear the investing legend, at a time of turmoil for the banking industry and as trouble looms for the economy. While Berkshire has a succession plan in place, with Vice Chairman Greg Abel slated to succeed Buffett as CEO, investors know that their time to see and hear Buffett and longtime Vice Chairman Charlie Munger is limited.
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Other questions may address Buffett's own huge investments in Apple Inc AAPL.O and Occidental Petroleum Corp OXY.N, or his now-uncertain bet that video game maker Activision Blizzard Inc ATVI.O can be acquired by Microsoft Corp MSFT.O. While Berkshire has a succession plan in place, with Vice Chairman Greg Abel slated to succeed Buffett as CEO, investors know that their time to see and hear Buffett and longtime Vice Chairman Charlie Munger is limited. At the meeting, shareholders are due to present six proposals for Berkshire to address including on climate change, diversity and political advocacy, and a renewed call for Berkshire to install someone other than Buffett as chairman.
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16034.0
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2023-05-04 00:00:00 UTC
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GLOBAL MARKETS-Stocks sag, dollar gains as investors eye central bank news, weakening economy
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AAPL
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https://www.nasdaq.com/articles/global-markets-stocks-sag-dollar-gains-as-investors-eye-central-bank-news-weakening
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By Sinéad Carew and Marc Jones
NEW YORK, LONDON, May 4 (Reuters) - A global measure of stocks was lower while the dollar gained some ground as the European Central Bank raised rates on Thursday and signalled the need for more tightening a day after the U.S. Federal Reserve also raised rates.
U.S. Treasury yields were lower while oil prices slowed their declines after a massive two-day sell off.
Along with investor indigestion over central bank messaging, Wall Street stock indexes were also under pressure from another rout in U.S. bank shares, which have reeled from the collapse of a third major regional bank over the weekend.
European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation.
In contrast to the ECB, the Fed had implied that its marathon hiking cycle may be drawing to a close.
While the idea of a pause in U.S. rate hikes was welcome news for U.S. investors, it comes with the implication that the economy is slowing, said Lauren Goodwin, economist and portfolio strategist at New York Life Investments in New York.
"This balance between potential interest rate stability and an increase in recession risk is what markets are trying to digest today," said Goodwin.
In particular, the economist saw the Fed's reference to tightening credit conditions as a confirmation of her expectations of an economic downturn.
"It's highly unlikely we'll avoid a recession," Goodwin said. "We're on a clear path toward a recession in the next few months."
The Dow Jones Industrial Average .DJI fell 394.91 points, or 1.18%, to 33,019.33, the S&P 500 .SPX lost 32.23 points, or 0.79%, to 4,058.52 and the Nasdaq Composite .IXIC dropped 56.73 points, or 0.47%, to 11,968.60.
The pan-European STOXX 600 index .STOXX lost 0.47% and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.47%. Emerging market stocks .MSCIEF rose 0.68%.
Adding to investor worries, another U.S. regional bank - PacWest Bancorp PACW.O - signalled troubles days after First Republic FRC.N collapsed.
Among currencies, the dollar gained against the euro as investors digested the ECB's rate hike and commentary as well as the Fed's hike and its indication that it may pause.
The dollar index =USD rose 0.109%, with the euro EUR= down 0.38% to $1.1017.
The Japanese yen strengthened 0.73% versus the greenback at 133.70 per dollar, while Sterling GBP= was last trading at $1.2585, up 0.17% on the day.
In Treasuries, yields fell on Thursday after initially jumping on new data that showed labor costs jumped and productivity dropped in the first quarter.
Benchmark 10-year notes US10YT=RR were down 8.2 basis points to 3.321%, from 3.403% late on Wednesday. The 30-year bond US30YT=RR was last down 0.7 basis points to yield 3.7084% while the 2-year note US2YT=RR was last was down 23.5 basis points to yield 3.704%%.
In energy, crude oil prices were stabilizing after three straight days of declines amid demand concerns in major consuming countries given worries about the global economy.
U.S. crude CLc1 recently fell 0.09% to $68.54 per barrel and Brent LCOc1 was at $72.53, up 0.28% on the day.
Meanwhile, gold touched its highest level since 2020 as U.S. banking concerns accelerated a flight to the safe-haven asset and sustained its stellar rally driven by bets for a pause in U.S. rate hikes.
Spot gold XAU= added 0.5% to $2,049.41 an ounce. U.S. gold futures GCc1 gained 1.10% to $2,050.90 an ounce.
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging marketshttp://tmsnrt.rs/2ihRugV
MSCI All Country World Index Market Caphttp://tmsnrt.rs/2EmTD6j
Fed hikes rates to levels last seen before financial crisishttps://tmsnrt.rs/3NA8oFO
The race to raise rateshttps://tmsnrt.rs/3ALpJ7b
ECB hawkishness to moderatehttps://tmsnrt.rs/44226op
(Additional reporting by Harry Robertson in London and Rae Wee in Singapore; Editing by Christina Fincher, Toby Chopra and Deepa Babington)
((sinead.carew@thomsonreuters.com; +13322191897))
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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European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation. Meanwhile, gold touched its highest level since 2020 as U.S. banking concerns accelerated a flight to the safe-haven asset and sustained its stellar rally driven by bets for a pause in U.S. rate hikes. Global currencies vs. dollar http://tmsnrt.rs/2egbfVh Emerging marketshttp://tmsnrt.rs/2ihRugV MSCI All Country World Index Market Caphttp://tmsnrt.rs/2EmTD6j Fed hikes rates to levels last seen before financial crisishttps://tmsnrt.rs/3NA8oFO The race to raise rateshttps://tmsnrt.rs/3ALpJ7b ECB hawkishness to moderatehttps://tmsnrt.rs/44226op (Additional reporting by Harry Robertson in London and Rae Wee in Singapore; Editing by Christina Fincher, Toby Chopra and Deepa Babington) ((sinead.carew@thomsonreuters.com; +13322191897)) 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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European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation. In energy, crude oil prices were stabilizing after three straight days of declines amid demand concerns in major consuming countries given worries about the global economy. Global currencies vs. dollar http://tmsnrt.rs/2egbfVh Emerging marketshttp://tmsnrt.rs/2ihRugV MSCI All Country World Index Market Caphttp://tmsnrt.rs/2EmTD6j Fed hikes rates to levels last seen before financial crisishttps://tmsnrt.rs/3NA8oFO The race to raise rateshttps://tmsnrt.rs/3ALpJ7b ECB hawkishness to moderatehttps://tmsnrt.rs/44226op (Additional reporting by Harry Robertson in London and Rae Wee in Singapore; Editing by Christina Fincher, Toby Chopra and Deepa Babington) ((sinead.carew@thomsonreuters.com; +13322191897)) 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 Sinéad Carew and Marc Jones NEW YORK, LONDON, May 4 (Reuters) - A global measure of stocks was lower while the dollar gained some ground as the European Central Bank raised rates on Thursday and signalled the need for more tightening a day after the U.S. Federal Reserve also raised rates. European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation. Global currencies vs. dollar http://tmsnrt.rs/2egbfVh Emerging marketshttp://tmsnrt.rs/2ihRugV MSCI All Country World Index Market Caphttp://tmsnrt.rs/2EmTD6j Fed hikes rates to levels last seen before financial crisishttps://tmsnrt.rs/3NA8oFO The race to raise rateshttps://tmsnrt.rs/3ALpJ7b ECB hawkishness to moderatehttps://tmsnrt.rs/44226op (Additional reporting by Harry Robertson in London and Rae Wee in Singapore; Editing by Christina Fincher, Toby Chopra and Deepa Babington) ((sinead.carew@thomsonreuters.com; +13322191897)) 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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European stocks were lower after the ECB, the central bank for the 20 countries that share the euro currency, raised interest rates by 25 basis points to 3.25% and signalled that more tightening would be needed to tame inflation. Among currencies, the dollar gained against the euro as investors digested the ECB's rate hike and commentary as well as the Fed's hike and its indication that it may pause. The 30-year bond US30YT=RR was last down 0.7 basis points to yield 3.7084% while the 2-year note US2YT=RR was last was down 23.5 basis points to yield 3.704%%.
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16035.0
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2023-05-04 00:00:00 UTC
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US STOCKS-Wall Street ends down as PacWest fuels fears of deeper bank crisis
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-down-as-pacwest-fuels-fears-of-deeper-bank-crisis-0
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nan
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nan
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By Noel Randewich and Ankika Biswas
May 4 (Reuters) - Wall Street ended lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players.
PacWest Bancorp PACW.O tumbled 51% after it confirmed it was exploring strategic options, including a sale. Shares of the regional lender and other banks got hammered recently on fears of a worsening banking crisis.
Western Alliance Bancorp WAL.N plummeted almost 39%, with trading in the stock halted multiple times. At its session low, Western Alliance shares were down more than 60% and the lender denied a report that it was exploring a potential sale.
Comerica CMA.N and Zion Bancorporation ZION.O both lost about 12%. The KBW Regional Banking index .KRXended down 3.5%, bouncing off its session low which was down about 7%.
Canada's Toronto-Dominion Bank Group TD.TOcalled off its $13.4 billion acquisition of First Horizon Corp FHN.N, triggering a 33% slump in the U.S. bank's shares.
"Regional banks and tightening credit conditions are weighing on the market as investors try to recalibrate on where we are in terms of credit cycles and bank lending standards, and when a potential recession may hit," said Zhe Shen, managing director of diversifying strategies at TIFF Investment Management.
The CBOE volatility index .VIX, also known as Wall Street's fear gauge, rose to as much as 21 points, its highest since late March.
Of the 11 S&P 500 sector indexes, nine declined, led lower by financials .SPSY, down 1.29%, followed by a 1.26% loss in communication services .SPLRCL.
The S&P 500 declined 0.72% to end the session at 4,061.22 points. It was its fourth straight session of declines, the first such streak since February
The Nasdaq declined 0.49% to 11,966.40 points, while Dow Jones Industrial Average declined 0.86% to 33,127.74 points.
Volume on U.S. exchanges was relatively heavy, with 12.0 billion shares traded, compared to an average of 10.5 billion shares over the previous 20 sessions.
On Sunday, regulators seized troubled First Republic Bank and JPMorgan Chase JPM.N agreed to buy majority of its assets, marking the largest U.S. bank failure since the 2008 financial crisis.
With investors increasingly worried a widening banking crisis and an economic downturn, U.S. interest rate futures prices now imply traders mostly expect the U.S. Federal Reserve to cut rates by the central bank's July meeting, according to CME Group's FedWatch Tool.
The Fed on Wednesday raised interest rates by 25 basis points, while Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
Among the largest U.S. banks, JPMorgan JPM.Ndropped 1.4% and Wells Fargo WFC.Nlost 4.25%.
Data on Thursday showed the number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy.
Apple Inc AAPL.Odipped 1%, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks.
Moderna Inc MRNA.O jumped 3.2% following stronger-than-expected sales for its COVID-19 vaccine for the first quarter.
Qualcomm Inc QCOM.O slumped 5.5% after the chip designer's third-quarter forecasts missed estimates, while Paramount Global Inc PARA.O tanked about 28% after missing first-quarter revenue estimates amid a weak advertising market in its TV business.
Declining stocks outnumbered rising ones within the S&P 500 .AD.SPX by a 2.4-to-one ratio.
The S&P 500 posted 4 new highs and 27 new lows; the Nasdaq recorded 47 new highs and 412 new lows.
Stocks and the Fedhttps://tmsnrt.rs/3AUufR0
S&P 500 stocks by turnoverhttps://tmsnrt.rs/3oZqU03
(Reporting by Ankika Biswas and Sruthi Shankar in Bengaluru, and by Noel Randewich in Oakland, Calif.; Additional reporting by Caroline Mandl in New York; editing by Shounak Dasgupta and David Gregorio)
((noel.randewich@tr.com; Twitter: @randewich))
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.Odipped 1%, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks. The Fed on Wednesday raised interest rates by 25 basis points, while Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern. Data on Thursday showed the number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy.
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Apple Inc AAPL.Odipped 1%, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks. By Noel Randewich and Ankika Biswas May 4 (Reuters) - Wall Street ended lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players. PacWest Bancorp PACW.O tumbled 51% after it confirmed it was exploring strategic options, including a sale.
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Apple Inc AAPL.Odipped 1%, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks. By Noel Randewich and Ankika Biswas May 4 (Reuters) - Wall Street ended lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players. It was its fourth straight session of declines, the first such streak since February The Nasdaq declined 0.49% to 11,966.40 points, while Dow Jones Industrial Average declined 0.86% to 33,127.74 points.
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Apple Inc AAPL.Odipped 1%, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks. By Noel Randewich and Ankika Biswas May 4 (Reuters) - Wall Street ended lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase JPM.N, Wells Fargo & Co WFC.N and other major financial players. At its session low, Western Alliance shares were down more than 60% and the lender denied a report that it was exploring a potential sale.
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16036.0
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2023-05-04 00:00:00 UTC
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Rosenblatt Reiterates Apple (AAPL) Buy Recommendation
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AAPL
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https://www.nasdaq.com/articles/rosenblatt-reiterates-apple-aapl-buy-recommendation
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nan
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nan
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Fintel reports that on May 4, 2023, Rosenblatt reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation.
Analyst Price Forecast Suggests 3.86% Upside
As of April 24, 2023, the average one-year price target for Apple is 173.91. The forecasts range from a low of 117.16 to a high of $215.25. The average price target represents an increase of 3.86% from its latest reported closing price of 167.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 413,641MM, an increase of 6.74%. 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 6410 funds or institutions reporting positions in Apple. This is an increase of 181 owner(s) or 2.91% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%. Total shares owned by institutions decreased in the last three months by 0.11% to 10,110,149K shares.
The put/call ratio of AAPL is 0.99, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 895,136K shares representing 5.66% ownership of the company. In it's prior filing, the firm reported owning 894,802K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in AAPL by 6.86% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 459,387K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 455,109K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in AAPL by 12.36% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 345,686K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 342,454K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in AAPL by 12.57% over the last quarter.
Geode Capital Management holds 282,750K shares representing 1.79% ownership of the company. In it's prior filing, the firm reported owning 279,759K shares, representing an increase of 1.06%. The firm decreased its portfolio allocation in AAPL by 12.15% over the last quarter.
Price T Rowe Associates holds 226,281K shares representing 1.43% ownership of the company. In it's prior filing, the firm reported owning 224,864K shares, representing an increase of 0.63%. The firm decreased its portfolio allocation in AAPL by 7.53% 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.
See all Apple regulatory filings.
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 May 4, 2023, Rosenblatt reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation. Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%. The put/call ratio of AAPL is 0.99, indicating a bullish outlook.
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Fintel reports that on May 4, 2023, Rosenblatt reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation. Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%. The put/call ratio of AAPL is 0.99, indicating a bullish outlook.
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Fintel reports that on May 4, 2023, Rosenblatt reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation. Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%. The put/call ratio of AAPL is 0.99, indicating a bullish outlook.
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Average portfolio weight of all funds dedicated to AAPL is 3.00%, a decrease of 18.69%. Fintel reports that on May 4, 2023, Rosenblatt reiterated coverage of Apple (NASDAQ:AAPL) with a Buy recommendation. The put/call ratio of AAPL is 0.99, indicating a bullish outlook.
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16037.0
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2023-05-04 00:00:00 UTC
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After Hours Most Active for May 4, 2023 : PK, AAPL, CVNA, BABA, LYFT, KVUE, INTC, PSCE, VZ, BAC, MSFT, AMZN
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-may-4-2023-%3A-pk-aapl-cvna-baba-lyft-kvue-intc-psce-vz-bac-msft
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nan
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The NASDAQ 100 After Hours Indicator is down -2.22 to 12,980.26. The total After hours volume is currently 84,452,383 shares traded.
The following are the most active stocks for the after hours session:
Park Hotels & Resorts Inc. (PK) is +0.49 at $13.09, with 9,048,960 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023. The consensus EPS forecast is $0.61. PK's current last sale is 87.27% of the target price of $15.
Apple Inc. (AAPL) is +0.51 at $166.30, with 7,643,715 shares traded. Smarter Analyst Reports: Wednesday’s Pre-Market: Here’s What You Need to Know Before the Market Opens
Carvana Co. (CVNA) is +0.98 at $8.18, with 3,158,461 shares traded. CVNA's current last sale is 81.8% of the target price of $10.
Alibaba Group Holding Limited (BABA) is -0.26 at $82.23, with 3,132,993 shares traded. BABA's current last sale is 57.1% of the target price of $144.
Lyft, Inc. (LYFT) is -1.1019 at $9.59, with 2,947,399 shares traded. Smarter Analyst Reports: Elastic Continues to Dip Despite Excellent Q2 Results
Kenvue Inc. (KVUE) is -0.42 at $26.48, with 2,241,564 shares traded.
Intel Corporation (INTC) is unchanged at $31.24, with 2,123,478 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023. The consensus EPS forecast is $-0.04. INTC's current last sale is 102.43% of the target price of $30.5.
Invesco S&P SmallCap Energy ETF (PSCE) is +0.0046 at $8.55, with 1,900,000 shares traded. This represents a 12.26% increase from its 52 Week Low.
Verizon Communications Inc. (VZ) is unchanged at $37.35, with 1,818,200 shares traded. VZ's current last sale is 87.88% of the target price of $42.5.
Bank of America Corporation (BAC) is -0.01 at $26.98, with 1,635,523 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2023. The consensus EPS forecast is $0.79. BAC's current last sale is 74.94% of the target price of $36.
Microsoft Corporation (MSFT) is -0.01 at $305.40, with 1,285,545 shares traded. Over the last four weeks they have had 11 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023. The consensus EPS forecast is $2.55. As reported by Zacks, the current mean recommendation for MSFT is in the "buy range".
Amazon.com, Inc. (AMZN) is -0.099 at $103.90, with 1,185,890 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023. The consensus EPS forecast is $0.33. As reported by Zacks, the current mean recommendation for AMZN is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc. (AAPL) is +0.51 at $166.30, with 7,643,715 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023. Smarter Analyst Reports: Elastic Continues to Dip Despite Excellent Q2 Results
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Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023. Apple Inc. (AAPL) is +0.51 at $166.30, with 7,643,715 shares traded. Over the last four weeks they have had 11 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023.
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Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023. Apple Inc. (AAPL) is +0.51 at $166.30, with 7,643,715 shares traded. The total After hours volume is currently 84,452,383 shares traded.
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Apple Inc. (AAPL) is +0.51 at $166.30, with 7,643,715 shares traded. The NASDAQ 100 After Hours Indicator is down -2.22 to 12,980.26. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023.
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16038.0
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2023-05-04 00:00:00 UTC
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4 Great Growth Stocks to Buy Now
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AAPL
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https://www.nasdaq.com/articles/4-great-growth-stocks-to-buy-now
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nan
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nan
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There are some great long-term buy-and-hold stocks emerging in the market. These are industry leaders in their field and trade for surprisingly reasonable multiples. In this video, Travis Hoium highlights the four growth stocks he likes today.
*Stock prices used were end-of-day prices of April 22, 2023. The video was published on April 24, 2023.
10 stocks we like better than Spotify Technology
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 Spotify Technology 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 April 24, 2023
Travis Hoium has positions in Apple, General Motors, Spotify Technology, and Topgolf Callaway Brands. The Motley Fool has positions in and recommends Apple, Nvidia, Spotify Technology, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends General Motors and Topgolf Callaway Brands and recommends the following options: long January 2025 $25 calls on General Motors. 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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In this video, Travis Hoium highlights the four growth stocks he likes today. 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, Spotify Technology, and Taiwan Semiconductor Manufacturing.
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See the 10 stocks *Stock Advisor returns as of April 24, 2023 Travis Hoium has positions in Apple, General Motors, Spotify Technology, and Topgolf Callaway Brands. The Motley Fool has positions in and recommends Apple, Nvidia, Spotify Technology, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends General Motors and Topgolf Callaway Brands and recommends the following options: long January 2025 $25 calls on General Motors.
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10 stocks we like better than Spotify Technology When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of April 24, 2023 Travis Hoium has positions in Apple, General Motors, Spotify Technology, and Topgolf Callaway Brands. The Motley Fool recommends General Motors and Topgolf Callaway Brands and recommends the following options: long January 2025 $25 calls on General Motors.
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* They just revealed what they believe are the ten best stocks for investors to buy right now... and Spotify Technology wasn't one of them! See the 10 stocks *Stock Advisor returns as of April 24, 2023 Travis Hoium has positions in Apple, General Motors, Spotify Technology, and Topgolf Callaway Brands. Their opinions remain their own and are unaffected by The Motley Fool.
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16039.0
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2023-05-04 00:00:00 UTC
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Apple beats revenue, profit estimate on iPhone sales growth
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AAPL
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https://www.nasdaq.com/articles/apple-beats-revenue-profit-estimate-on-iphone-sales-growth
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nan
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nan
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By Stephen Nellis
May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook.
Apple said sales for its fiscal second quarter ended April 1 fell 2.5% to $94.84 billion, better than analyst expectations of a 4.4% decline to $93 billion, according to data from Refinitiv. Profit was flat at $1.52 per share, compared with estimates of a 5.7% fall to $1.43 per share, according to Refinitiv data.
A 1.5% rise in Apple's iPhone revenue contrasted with the broader consumer electronics industry, which is grappling with a decline in sales of smartphones, tablets and PCs as consumers and businesses who scooped up electronics during the pandemic tighten spending amid rising interest rates and economic uncertainty. The company also held its dividend and stock buyback programs roughly in line with its last update to them a year ago, approving $90 billion in additional buybacks.
Apple CEO Tim Cook told Reuters in an interview on Thursday that the company set a fiscal second-quarter record for iPhone sales, thanks in part to picking up new users in markets such as India, where Cook recently traveled for the opening of the company's first retail stores in the country.
"We were thrilled by our performance in emerging markets," Cook said. "We set records for the iPhone installed base in every geographic segment, and we had very strong 'new to' (sales in) emerging markets, particularly in Brazil, India and Mexico."
Cook also said supply-chain snarls have vanished.
"We had no material shortages at all during the quarter across any of the products," he said.
But not all of Apple's business lines were immune to the electronics slump, with sales of Macs falling sharply while iPad revenue slipped. Sales in China also dropped 2.9% to $17.8 billion, a slightly larger drop than overall revenue.
Other firms in the industry have predicted a rebound in the second half of the year, and Wall Street expects Apple to recover faster and show modest year-over-year revenue growth during its fiscal third quarter ending in June.
Apple executives are expected to give a forecast on a conference call with investors later on Thursday.
Apple has in recent weeks announced new service businesses such as a high-yield savings account, but investors are still waiting to see the company's next major hardware product. Bloomberg has reported the iPhone maker could unveil a mixed-reality headset as soon as next month, when it holds its annual software developer conference.
IPhone sales rose 1.5% to $51.33 billion, compared with analyst expectations of a 3.3% decline to $48.9 billion, according to Refinitiv. Those results occurred against the backdrop of a 13% decline in global smartphone shipments during the first three months of 2023, during which the research firm Canalys said Apple gained market share against Android rivals.
Mac sales fell more than 30% to $7.17 billion compared with analyst estimates of a 25% decline to $7.8 billion, according to Refinitiv. Apple's sales fared only slightly better than PC unit shipments in the market, which fell 33% in the calendar first quarter, according to Canalys data.
Sales in Apple's wearables business, which includes devices like AirPods and the Apple Watch, fell less than 1% to $8.76 billion, compared with estimates of a 4.4% drop to $8.4 billion.
Apple's biggest growth segment was its services business, which includes products like iCloud and Apple Pay, which grew 5.5% to $20.9 billion, in line with analyst expectations. Cook said Apple now has 975 million subscribers on its platform, which includes both Apple services and third-party apps, up from 935 million last quarter and an increase of 150 million from a year ago.
Apple said its board of directors authorized a 24 cents-per- share dividend in addition to share repurchases. Both were roughly the same as the 23 cents-per-share dividend and previous $90 billion share repurchase increase the company announced a year ago.
(Reporting by Stephen Nellis in San Francisco and Yuvraj Malik in Bengaluru Editing by Peter Henderson and Matthew Lewis)
((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 May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook. Other firms in the industry have predicted a rebound in the second half of the year, and Wall Street expects Apple to recover faster and show modest year-over-year revenue growth during its fiscal third quarter ending in June. Apple has in recent weeks announced new service businesses such as a high-yield savings account, but investors are still waiting to see the company's next major hardware product.
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By Stephen Nellis May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook. Apple said sales for its fiscal second quarter ended April 1 fell 2.5% to $94.84 billion, better than analyst expectations of a 4.4% decline to $93 billion, according to data from Refinitiv. Both were roughly the same as the 23 cents-per-share dividend and previous $90 billion share repurchase increase the company announced a year ago.
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By Stephen Nellis May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook. Apple said sales for its fiscal second quarter ended April 1 fell 2.5% to $94.84 billion, better than analyst expectations of a 4.4% decline to $93 billion, according to data from Refinitiv. Sales in Apple's wearables business, which includes devices like AirPods and the Apple Watch, fell less than 1% to $8.76 billion, compared with estimates of a 4.4% drop to $8.4 billion.
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By Stephen Nellis May 4 (Reuters) - Apple Inc AAPL.O on Thursday reported quarterly revenue and profit above Wall Street's expectations, with iPhone sales rising and wearables sales slipping less than analysts had feared despite a continuing slump in the consumer electronics market and a cloudy economic outlook. Apple said sales for its fiscal second quarter ended April 1 fell 2.5% to $94.84 billion, better than analyst expectations of a 4.4% decline to $93 billion, according to data from Refinitiv. Apple's biggest growth segment was its services business, which includes products like iCloud and Apple Pay, which grew 5.5% to $20.9 billion, in line with analyst expectations.
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16040.0
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2023-05-04 00:00:00 UTC
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Warren Buffett's Big AI Bet
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AAPL
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https://www.nasdaq.com/articles/warren-buffetts-big-ai-bet
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nan
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nan
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Sometimes it's better to be lucky than good. But the true greats like Warren Buffett are both. His holding company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) began buying shares of iPhone maker Apple (NASDAQ: AAPL) in 2016. That investment has grown into the holding company's most significant position through sheer outperformance.
That's a heck of a stock pick.
Buffett didn't realize it then, but fast-forward seven years and artificial intelligence (AI) is revolutionizing the economy as we speak. And as luck would have it, Berkshire's largest position, a whopping $155 billion stake in Apple, has Berkshire positioned to benefit from all that AI has to offer.
Here is what you need to know.
AI clues in Apple's products
Apple has built an empire as a consumer electronics brand. It sells smartphones, computers, earbuds, and other accessories, followed by a variety of subscription services to help keep consumers locked into its ecosystem. From digital wallets to music, news, exercise, and gaming, there is a service for just about every digital need -- all accessible through your favorite Apple device.
Today there are an estimated 1.5 billion active iPhone users alone, a massive user base that allows Apple to launch a new service and rapidly grow it. For example, Apple launched a buy now, pay later service, and with a simple iOS update, it can peddle it to as many users as it wants.
This ecosystem is Apple's competitive advantage, and protecting it is the company's secret to long-term prosperity. Apple hasn't made waves in AI like some other big tech companies, but it's undoubtedly creeping into Apple's user services. Here are some examples:
Photo editing features such as removing objects/backgrounds
Predictive text on the keyboard
Face ID with masks
Crash detection in automobiles
These changes all contribute to a better user experience, making it more likely you will continue upgrading your devices to the next generation. The system made Apple one of the decade's best investments.
Could Siri become a game-changer?
Much of the recent attention on AI centers around ChatGPT and other large language models, or chatbots, which can source information and reply to queries with conversation-like replies. Ironically, Apple had already broached this with its voice assistant Siri in 2011. The software has evolved, but most iPhone users are probably familiar with its limited capabilities.
But integrating ChatGPT-like intelligence into Siri would be a potential game-changer, helping the voice assistant realize the potential that users have been waiting over a decade for. It was recently reported that Apple's engineers are actively looking at technologies like what powers ChatGPT. Though nothing is announced or imminent, it's an exciting possibility worth keeping an eye on.
Should investors follow Warren's lead?
Fortunately, you don't need AI to justify owning Apple stock -- the company's dominant ecosystem is plenty. However, there are some things you should consider before buying shares today.
For example, Warren Buffett bought the stock for Berkshire in early 2016 when shares traded near a price-to-earnings ratio (P/E) of just 10. It turned out to be the cheapest valuation Apple would trade at ever since. Today shares trade at a P/E of nearly 30, which complicates things.
Analysts believe Apple's earnings-per-share (EPS) growth will hover around 10% annually, making it harder to pull the trigger when the S&P 500, which historically averages 10% annual returns, trades at a much lower valuation.
AAPL PE Ratio data by YCharts
Investors might benefit from waiting for shares to cool off after appreciating 30% since the start of the year. Many economists believe the U.S. is entering a recession, and the potential market turbulence might create a better buying opportunity. Be sure to keep Apple on your watchlist, though; the future is still bright for Buffett's (and Berkshire's) biggest holding.
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.
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*Stock Advisor returns as of May 1, 2023
Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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AAPL PE Ratio data by YCharts Investors might benefit from waiting for shares to cool off after appreciating 30% since the start of the year. His holding company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) began buying shares of iPhone maker Apple (NASDAQ: AAPL) in 2016. It sells smartphones, computers, earbuds, and other accessories, followed by a variety of subscription services to help keep consumers locked into its ecosystem.
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His holding company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) began buying shares of iPhone maker Apple (NASDAQ: AAPL) in 2016. AAPL PE Ratio data by YCharts Investors might benefit from waiting for shares to cool off after appreciating 30% since the start of the year. But integrating ChatGPT-like intelligence into Siri would be a potential game-changer, helping the voice assistant realize the potential that users have been waiting over a decade for.
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His holding company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) began buying shares of iPhone maker Apple (NASDAQ: AAPL) in 2016. AAPL PE Ratio data by YCharts Investors might benefit from waiting for shares to cool off after appreciating 30% since the start of the year. Apple hasn't made waves in AI like some other big tech companies, but it's undoubtedly creeping into Apple's user services.
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His holding company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) began buying shares of iPhone maker Apple (NASDAQ: AAPL) in 2016. AAPL PE Ratio data by YCharts Investors might benefit from waiting for shares to cool off after appreciating 30% since the start of the year. Today there are an estimated 1.5 billion active iPhone users alone, a massive user base that allows Apple to launch a new service and rapidly grow it.
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16041.0
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2023-05-04 00:00:00 UTC
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Qualcomm amplifies chip gloom with 'sobering report'
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AAPL
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https://www.nasdaq.com/articles/qualcomm-amplifies-chip-gloom-with-sobering-report-0
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nan
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nan
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Updates share movement
May 4 (Reuters) - Qualcomm Inc's QCOM.O shares sank 7% on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump.
The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold.
Qualcomm's quarterly revenue outlook marked the second time a chip firm underwhelmed Wall Street this week. Advanced Micro Devices AMD.O slumped more than 9% on Wednesday after a dour forecast.
"While we believe investors were expecting a miss, this was admittedly a somewhat sobering report," said Bernstein analysts, among the 13 brokerages that cut price targets on Qualcomm's stock.
The company blamed the weakness on the timing of purchases by a customer that only buys its cellular modems and China, where an expected post-COVID recovery was yet to materialize.
Qualcomm did not name the modem customer, but analysts pointed to Apple, which will report results after markets close.
"The next two quarterly estimates will be adversely impacted by Apple as this leading modem-only customer purchased modems from Qualcomm in greater volumes earlier than normal due to the supply chain issues," said Michael Walkley of Canaccord Genuity.
China will remain a headache with no timeline for a recovery there, while competition is deepening from Taiwan's MediaTek 2454.TW in the high-end smartphone chips, analysts said.
"We worry about customers mixing lower now that wafers are no longer scarce as well as increasing competition from Mediatek at the higher end," brokerage Evercore ISI said.
Still, there were some encouraging signs for Qualcomm.
Automotive revenue jumped 20% and the internet-of-things unit reported in line sales, indicating that Qualcomm's efforts to diversify away from the smartphone market were on track.
(Reporting by Aditya Soni; Editing by Sriraj Kalluvila)
((Aditya.Soni@thomsonreuters.com; +91 80 6749 1130;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold. "The next two quarterly estimates will be adversely impacted by Apple as this leading modem-only customer purchased modems from Qualcomm in greater volumes earlier than normal due to the supply chain issues," said Michael Walkley of Canaccord Genuity. "We worry about customers mixing lower now that wafers are no longer scarce as well as increasing competition from Mediatek at the higher end," brokerage Evercore ISI said.
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The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold. Qualcomm's quarterly revenue outlook marked the second time a chip firm underwhelmed Wall Street this week. Qualcomm did not name the modem customer, but analysts pointed to Apple, which will report results after markets close.
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The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold. Updates share movement May 4 (Reuters) - Qualcomm Inc's QCOM.O shares sank 7% on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump. Qualcomm did not name the modem customer, but analysts pointed to Apple, which will report results after markets close.
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The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold. Updates share movement May 4 (Reuters) - Qualcomm Inc's QCOM.O shares sank 7% on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump. China will remain a headache with no timeline for a recovery there, while competition is deepening from Taiwan's MediaTek 2454.TW in the high-end smartphone chips, analysts said.
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16042.0
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2023-05-04 00:00:00 UTC
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Guru Fundamental Report for AAPL - Warren Buffett
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AAPL
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https://www.nasdaq.com/articles/guru-fundamental-report-for-aapl-warren-buffett-30
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nan
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nan
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Below is Validea's guru fundamental report for APPLE INC (AAPL). Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. This strategy seeks out firms with long-term, predictable profitability and low debt that trade at reasonable valuations.
APPLE INC (AAPL) is a large-cap growth stock in the Communications Equipment industry. The rating using this strategy is 100% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS PREDICTABILITY: PASS
DEBT SERVICE: PASS
RETURN ON EQUITY: PASS
RETURN ON TOTAL CAPITAL: PASS
FREE CASH FLOW: PASS
USE OF RETAINED EARNINGS: PASS
SHARE REPURCHASE: PASS
INITIAL RATE OF RETURN: PASS
EXPECTED RETURN: PASS
Detailed Analysis of APPLE INC
AAPL Guru Analysis
AAPL Fundamental Analysis
More Information on Warren Buffett
Warren Buffett Portfolio
Top Warren Buffett Stocks
About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time. As the chairman of Berkshire Hathaway, Buffett has consistently outperformed the S&P 500 for decades, and in the process has become one of the world's richest men. (Forbes puts his net worth at $37 billion.) Despite his fortune, Buffett is known for living a modest lifestyle, by billionaire standards. His primary residence remains the gray stucco Nebraska home he purchased for $31,500 nearly 50 years ago, according to Forbes, and his folksy Midwestern manner and penchant for simple pleasures -- a cherry Coke, a good burger, and a good book are all near the top of the list -- have been well-documented.
Additional Research Links
Factor-Based Stock Portfolios
Factor-Based ETF Portfolios
Harry Browne Permanent Portfolio
Ray Dalio All Weather Portfolio
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click 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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Below is Validea's guru fundamental report for APPLE INC (AAPL). Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. APPLE INC (AAPL) is a large-cap growth stock in the Communications Equipment industry.
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Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. Detailed Analysis of APPLE INC AAPL Guru Analysis AAPL Fundamental Analysis More Information on Warren Buffett Warren Buffett Portfolio Top Warren Buffett Stocks About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time. Below is Validea's guru fundamental report for APPLE INC (AAPL).
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Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. Detailed Analysis of APPLE INC AAPL Guru Analysis AAPL Fundamental Analysis More Information on Warren Buffett Warren Buffett Portfolio Top Warren Buffett Stocks About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time. Below is Validea's guru fundamental report for APPLE INC (AAPL).
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Below is Validea's guru fundamental report for APPLE INC (AAPL). Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. APPLE INC (AAPL) is a large-cap growth stock in the Communications Equipment industry.
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16043.0
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2023-05-04 00:00:00 UTC
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US STOCKS-Wall St set for lower open as PacWest woes offset Fed pause optimism
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-set-for-lower-open-as-pacwest-woes-offset-fed-pause-optimism
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nan
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nan
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By Ankika Biswas and Sruthi Shankar
May 4 (Reuters) - U.S. stock indexes were set for a lower open as news of PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes.
PacWest Bancorp PACW.O tumbled 37.2% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
Regulators seized troubled First Republic Bank and JPMorgan Chase JPM.N agreed to buy majority of its assets earlier this week, marking the largest U.S. bank failure since the 2008 financial crisis.
Shares of other regional lenders such as KeyCorp KEY.N, Valley National Bancorp VLY.O and Zions Bancorp ZION.O fell between 7.7% and 9.6% on Thursday, while Western Alliance Bancorp WAL.N dropped 13.4% despite noting that it had not experienced unusual deposit outflows following the sale of First Republic.
"PacWest is more evidence that the U.S. banking crisis is not over yet," said Stuart Cole, chief macro economist at Equiti Capital.
"It (PacWest) does appear that it is struggling, and I would be very surprised if it was not for the same reasons as those before it ... the market is circling all these regional U.S. banks like a vulture, looking which one to pick off next."
The U.S. central bank on Wednesday raised interest rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening, giving officials time to assess the recent bank failures, U.S. debt ceiling situation and sticky inflation.
However, U.S. stocks dropped on Wednesday after Fed Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
U.S. interest rate futures priced in a pause in tightening at the Fed's June and July policy meetings, according to the CME's FedWatch tool, and also factored in a nearly 50% chance of rate cuts at the September meeting.
Although the end of Fed's market-punishing rate-hike cycle may be in sight, uncertainty over stock valuations and the economic outlook are keeping investors on alert for more turbulence ahead.
Major technology and growth stocks such as Meta Platforms Inc META.O, Microsoft Corp MSFT.O and Alphabet Inc GOOGL.O edged up on Thursday, helped by a fall in U.S. Treasury yields. US/
The number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy.
Apple Inc AAPL.O shares fell 1.5%, with the iPhone maker set to report quarterly results after the closing bell.
At 8:34 a.m. ET, Dow e-minis 1YMcv1 were down 68 points, or 0.20%, S&P 500 e-minis EScv1 were down 11.5 points, or 0.28%, and Nasdaq 100 e-minis NQcv1 were down 18.25 points, or 0.14%.
Qualcomm Inc QCOM.O slumped 7.4% after the chip designer's third-quarter forecasts missed estimates.
Paramount Global Inc PARA.O dropped 17.2% after missing first-quarter revenue estimates as it added fewer subscribers at its flagship streaming service and advertisers cut back on spending.
Stocks and the Fedhttps://tmsnrt.rs/3AUufR0
(Reporting by Ankika Biswas and Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)
((Ankika.Biswas@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc AAPL.O shares fell 1.5%, with the iPhone maker set to report quarterly results after the closing bell. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - U.S. stock indexes were set for a lower open as news of PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes. PacWest Bancorp PACW.O tumbled 37.2% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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Apple Inc AAPL.O shares fell 1.5%, with the iPhone maker set to report quarterly results after the closing bell. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - U.S. stock indexes were set for a lower open as news of PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes. PacWest Bancorp PACW.O tumbled 37.2% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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Apple Inc AAPL.O shares fell 1.5%, with the iPhone maker set to report quarterly results after the closing bell. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - U.S. stock indexes were set for a lower open as news of PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes. PacWest Bancorp PACW.O tumbled 37.2% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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Apple Inc AAPL.O shares fell 1.5%, with the iPhone maker set to report quarterly results after the closing bell. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - U.S. stock indexes were set for a lower open as news of PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes. PacWest Bancorp PACW.O tumbled 37.2% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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16044.0
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2023-05-04 00:00:00 UTC
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Qualcomm amplifies chip gloom with 'sobering report'
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AAPL
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https://www.nasdaq.com/articles/qualcomm-amplifies-chip-gloom-with-sobering-report
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nan
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nan
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May 4 (Reuters) - Qualcomm Inc's QCOM.O shares sank nearly 8% premarket on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump.
The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold.
Qualcomm's quarterly revenue outlook was the second time a chip firm has underwhelmed Wall Street this week. Advanced Micro Devices AMD.O slumped more than 9% on Wednesday after a dour forecast.
"While we believe investors were expecting a miss, this was admittedly a somewhat sobering report," said Bernstein analysts, among the 13 brokerages that cut price targets on Qualcomm's stock.
The company blamed the weakness on the timing of purchases by a customer that only buys its cellular modems and China, where an expected post-COVID recovery was yet to materialize.
Qualcomm did not name the modem customer, but analysts pointed to Apple, which will report results after markets close.
"The next two quarterly estimates will be adversely impacted by Apple as this leading modem-only customer purchased modems from Qualcomm in greater volumes earlier than normal due to the supply chain issues," said Michael Walkley of Canaccord Genuity.
China will remain a headache with no timeline for a recovery there, while competition is deepening from Taiwan's MediaTek 2454.TW in the high-end smartphone chips, analysts said.
"We worry about customers mixing lower now that wafers are no longer scarce as well as increasing competition from Mediatek at the higher end," brokerage Evercore ISI said.
Still, there were some encouraging signs for Qualcomm.
Automotive revenue jumped 20% and the internet-of-things unit reported in line sales, indicating that Qualcomm's efforts to diversify away from the smartphone market were on track.
(Reporting by Aditya Soni; Editing by Sriraj Kalluvila)
((Aditya.Soni@thomsonreuters.com; +91 80 6749 1130;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold. May 4 (Reuters) - Qualcomm Inc's QCOM.O shares sank nearly 8% premarket on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump. "The next two quarterly estimates will be adversely impacted by Apple as this leading modem-only customer purchased modems from Qualcomm in greater volumes earlier than normal due to the supply chain issues," said Michael Walkley of Canaccord Genuity.
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The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold. Qualcomm's quarterly revenue outlook was the second time a chip firm has underwhelmed Wall Street this week. Qualcomm did not name the modem customer, but analysts pointed to Apple, which will report results after markets close.
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The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold. May 4 (Reuters) - Qualcomm Inc's QCOM.O shares sank nearly 8% premarket on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump. Qualcomm did not name the modem customer, but analysts pointed to Apple, which will report results after markets close.
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The company, which supplies to top handset makers Apple Inc AAPL.O and Samsung Electronics 005930.KS, was set to lose about $10 billion in market valuation, if the losses hold. May 4 (Reuters) - Qualcomm Inc's QCOM.O shares sank nearly 8% premarket on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump. China will remain a headache with no timeline for a recovery there, while competition is deepening from Taiwan's MediaTek 2454.TW in the high-end smartphone chips, analysts said.
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16045.0
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2023-05-04 00:00:00 UTC
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Apple (AAPL) Q2 2023 Earnings: What to Expect
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AAPL
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https://www.nasdaq.com/articles/apple-aapl-q2-2023-earnings-what-to-expect
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nan
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nan
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A
pple (AAPL) stock has gone on an impressive run, rising some 30% year to date, almost quadrupling the 7.7% rise in the S&P 500 index. Its shares have returned about 7% just in the past thirty days, pushing the tech giant past a $2.5 trillion valuation. Is it time to take profits or can its momentum continue?
These answers will be more clear when the company reports second quarter fiscal 2023 earnings results after the closing bell Thursday. It appears the tech giant has its mojo back after licking its wounds in 2022. Even with these strong returns, it’s hard to ignore the many catalysts that can keep shares rising. Last week, in partnership with Goldman Sachs (GS), Apple announced its entry into the banking system by offering a high-interest (4.15%) savings account for Apple Card holders.
Also as part of its growing streaming investments, during the quarter Apple begun a 10-year partnership with Major League Soccer, launching MLS Season Pass which gives soccer fans access to every live MLS regular season game as well as the playoffs and MLS Cup. Let’s not forget Apple’s new line of hardware products such as the new MacBook Pro which are powered by the company’s new M2 Pro and M2 Max chips. These models offer not only robust performance, but they also use less energy which elongates battery life.
Inflation continues to drive higher operating expenses for Apple, which remains a headwind for its profit margins. While iPhone sales generate a sizable portion of revenues, Apple’s collective high-margin Services businesses continue to grow. It remains to be seen if the Services segment, which generated 70%+ margins in 2022, can power the company through any near-term inflationary headwinds.
In the three months that ended March, Wall Street expect the Cupertino, Calif.-based tech giant to earn $1.43 per share on revenue of $92.98 billion. This compares to the year-ago quarter when earnings came to $1.52 per share on revenue of $97.28 billion. For the full year, ending in October, earnings are expected to decline 2.6% year over year to $5.95 per share, while full-year revenue of $387.92 billion will decline 1.6% year over year.
The tech giant has benefited from, among other things, the re-opening of China, its second-largest market. However, when it comes to the U.S., there is still concern regarding the strength of the consumer amid rising inflation and a possible recession. This continues to raise the question whether the company, which is highly reliant on iPhone sales, can ever return to its glory days of high growth.
Elsewhere, another question is if Apple’s Services segment will grow fast enough to make up for any weakness in hardware, driven weak worldwide PC sales. Worldwide PC shipments reached 65.3 million units in Q4, falling close to 30% year over year. For the year, PC shipments declined more than 16% year over year. These weaknesses were felt in Q1 when Apple’s Mac revenue of $7.74 billion declined 28% year over year to $7.74 billion.
Meanwhile, Q1 iPhone revenue of $65.78 billion declined 8% year over year to $65.78 billion. The weakness led to a quarterly miss on both the top and bottom lines, with the company earnings an adjusted EPS of $1.88 which missed by 7 cents, while Q1 revenue of $117.15 billion declined 5.5% year over year, missing estimates by $4.5 billion.
It wasn’t all bad news, however. Apple’s overall install base crossed 2 billion active devices, hitting all-time high for all major product categories. What’s more, Services revenue, which includes subscriptions to products such as Apple TV+, iCloud storage and Apple Music, rose 6.3% year over year, reaching a record of $20.76 billion. On Thursday investors will be watching closely to see whether (or how) inflation might have impacted spending on Apple’s pricey hardware.
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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pple (AAPL) stock has gone on an impressive run, rising some 30% year to date, almost quadrupling the 7.7% rise in the S&P 500 index. While iPhone sales generate a sizable portion of revenues, Apple’s collective high-margin Services businesses continue to grow. In the three months that ended March, Wall Street expect the Cupertino, Calif.-based tech giant to earn $1.43 per share on revenue of $92.98 billion.
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pple (AAPL) stock has gone on an impressive run, rising some 30% year to date, almost quadrupling the 7.7% rise in the S&P 500 index. For the full year, ending in October, earnings are expected to decline 2.6% year over year to $5.95 per share, while full-year revenue of $387.92 billion will decline 1.6% year over year. Elsewhere, another question is if Apple’s Services segment will grow fast enough to make up for any weakness in hardware, driven weak worldwide PC sales.
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pple (AAPL) stock has gone on an impressive run, rising some 30% year to date, almost quadrupling the 7.7% rise in the S&P 500 index. For the full year, ending in October, earnings are expected to decline 2.6% year over year to $5.95 per share, while full-year revenue of $387.92 billion will decline 1.6% year over year. These weaknesses were felt in Q1 when Apple’s Mac revenue of $7.74 billion declined 28% year over year to $7.74 billion.
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pple (AAPL) stock has gone on an impressive run, rising some 30% year to date, almost quadrupling the 7.7% rise in the S&P 500 index. Its shares have returned about 7% just in the past thirty days, pushing the tech giant past a $2.5 trillion valuation. It remains to be seen if the Services segment, which generated 70%+ margins in 2022, can power the company through any near-term inflationary headwinds.
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16046.0
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2023-05-04 00:00:00 UTC
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Garmin Sees Some Bright Spots in Earnings
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AAPL
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https://www.nasdaq.com/articles/garmin-sees-some-bright-spots-in-earnings
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nan
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nan
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Garmin's (NYSE: GRMN) sales fell in the first quarter, but there were some positives in the results. In the video below, Travis Hoium highlights what he liked and where Garmin is lacking performance to start 2023.
*Stock prices used were end-of-day prices of May 2, 2023. The video was published on May 3, 2023.
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Travis Hoium has positions in Apple. The Motley Fool has positions in and recommends Apple and Garmin. 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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In the video below, Travis Hoium highlights what he liked and where Garmin is lacking performance to start 2023. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. 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 May 1, 2023 Travis Hoium has positions in Apple. The Motley Fool has positions in and recommends Apple and Garmin.
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10 stocks we like better than Garmin 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 May 1, 2023 Travis Hoium has positions in Apple.
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That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of May 1, 2023 Travis Hoium has positions in Apple. The Motley Fool has positions in and recommends Apple and Garmin.
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16047.0
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2023-05-04 00:00:00 UTC
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3 Stocks to Buy Before They Soar to New Heights in 2023
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AAPL
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https://www.nasdaq.com/articles/3-stocks-to-buy-before-they-soar-to-new-heights-in-2023-0
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It is not easy to pick stocks for tomorrow’s success but some companies do have certain elements that make them clear winners and ideal stocks to buy, no matter the market situation. We have had a mixed earnings season. While the future looks promising, there is still a lot of uncertainty due to the recent interest rate hike and looming recession concerns.
However, we try to look for companies that look promising in 2023 and are ready to spur a new phase of growth. Watch out for these stocks to ensure that you make the most of the gains they post when the market improves. Having reported strong quarterly results, these are three stocks to buy before they soar to new heights this year.
Visa (V)
Source: Kikinunchi / Shutterstock.com
There are several reasons I think Visa (NYSE:V) is one of the best stocks and could be a long-term winner. The company already has a tremendous history of success and has produced exceptional results in the last five years. I believe Visa is at a stage where it can take risks and hit record revenues. The company has seen a massive net income margin going from 36% in 2017 to 51% in 2022. More importantly, its total payment volume went from $10.2 trillion in 2017 to $14.1 trillion in 2022. V stock is trading at $225.98 today and is up 8.97% year-to-date.
The company recently reported better-than-expected quarterly results. It earned $2.09 a share and hit a revenue of $7.98 billion. Visa has seen an increase in digital payments and the post-pandemic rise in travel has led to solid earnings and sales growth. Its payment volume grew 10% year-over-year and services revenue grew 7% year-over-year. Considering the volatility of banks today, consumers see Visa as a very secure alternative. It has a dividend yield of 0.80% and the current dividend is $0.40. It ended the March quarter with $13.8 billion in cash. Visa is spearheading the transition towards a cashless society. While it may take some time for many countries to go digital, there is a massive growth opportunity lying ahead.
Barclay analyst Ramsey El-Assal has a price target of $272 for the stock with an Overweight rating. Further, Truist analyst Andrew Jeffrey has also raised the price target to $270 with a buy rating after the robust Q2. Looking at the company’s fundamentals and valuation, it is ready to skyrocket in the near term. This is a world-class business you are getting at a fair valuation.
Apple (AAPL)
Source: askarim / Shutterstock
Considering its past performance and growing market capitalization, Apple (NASDAQ:AAPL) could soon become one of the biggest tech stocks to own. Besides being a high dividend growth stock, it is also one stock that continues to perform, no matter the market condition. The company is constantly expanding with innovation and has reported healthy earnings in the past. One of the high growth stocks, AAPL is trading for $167 today and is up 33.89% year to date. Apple is one of the best stocks to buy before the company reports earnings on May 4.
The company has entered the financial service segment with the new high-yield savings account in partnership with Goldman Sachs. This project it has attracted $1 billion in deposits in just 4 days. AAPL stock pays a dividend of 92 cents and has enough cash flow to continue rewarding investors. It is a cash flow machine and generates impressive free cash flow each year. The company has recently opened two new stores in India and is shifting its focus there due to the massive middle-class segment. India is one of the most populous nations in the world and Apple already generates $6 billion in annual revenue in the country.
The company is expecting to grow annual sales t0 $20 billion and grab a larger market share by 2025 in India. Additionally, its services segment has shown impressive growth potential and I believe it will rake in big numbers this quarter as well. Apple’s massive growth in the market is here to stay and the stock could hit big numbers this year.
General Motors (GM)
Source: Jonathan Weiss / Shutterstock.com
Electric cars are everywhere and we are constantly hearing about EV incentives. General Motors (NYSE:GM) may not be an EV leader, it sure is growing on the right track. The company has the advantage of owning some of the top brands and it is aggressively charging forward in the EV space. It may not be as big as Tesla (NASDAQ:TSLA) yet but this doesn’t mean the company isn’t doing well. It is planning to transition from internal combustion engine vehicles to EVs through 2035. GM stock is trading at $32.48 today and is down 16.72% in the past six months. This is an ideal buying opportunity for one of the top soaring stocks.
GM’s solid financials make it one of the best stocks to buy. It reported an EPS of $2.21 and a revenue of $39.99 billion. The management raised adjusted earnings expectations to a range of $11 to $13 billion. To achieve its production goals, the company, with South Korea-based Samsung SDI plans to invest $3 billion to build a new battery cell manufacturing plant.
General Motors will see three models that qualify for the full $7,500 in credit and this will lead to a higher demand for GM EVs this year. It aims to produce 1 million vehicles by 2025 and this number might look ambitious but the company does have a lot laid out. It has a solid balance sheet to support this goal and $24 billion in cash on hand.
On the date of publication, Vandita Jadeja 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.
Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis.
The post 3 Stocks to Buy Before They Soar to New Heights in 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: askarim / Shutterstock Considering its past performance and growing market capitalization, Apple (NASDAQ:AAPL) could soon become one of the biggest tech stocks to own. One of the high growth stocks, AAPL is trading for $167 today and is up 33.89% year to date. AAPL stock pays a dividend of 92 cents and has enough cash flow to continue rewarding investors.
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Apple (AAPL) Source: askarim / Shutterstock Considering its past performance and growing market capitalization, Apple (NASDAQ:AAPL) could soon become one of the biggest tech stocks to own. One of the high growth stocks, AAPL is trading for $167 today and is up 33.89% year to date. AAPL stock pays a dividend of 92 cents and has enough cash flow to continue rewarding investors.
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Apple (AAPL) Source: askarim / Shutterstock Considering its past performance and growing market capitalization, Apple (NASDAQ:AAPL) could soon become one of the biggest tech stocks to own. One of the high growth stocks, AAPL is trading for $167 today and is up 33.89% year to date. AAPL stock pays a dividend of 92 cents and has enough cash flow to continue rewarding investors.
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Apple (AAPL) Source: askarim / Shutterstock Considering its past performance and growing market capitalization, Apple (NASDAQ:AAPL) could soon become one of the biggest tech stocks to own. One of the high growth stocks, AAPL is trading for $167 today and is up 33.89% year to date. AAPL stock pays a dividend of 92 cents and has enough cash flow to continue rewarding investors.
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16048.0
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2023-05-04 00:00:00 UTC
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Should iShares Russell Top 200 ETF (IWL) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-ishares-russell-top-200-etf-iwl-be-on-your-investing-radar-5
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nan
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nan
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Looking for broad exposure to the Large Cap Blend segment of the US equity market? You should consider the iShares Russell Top 200 ETF (IWL), a passively managed exchange traded fund launched on 09/22/2009.
The fund is sponsored by Blackrock. It has amassed assets over $798.43 million, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
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.
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
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 0.15%, making it one of the cheaper products in the space.
It has a 12-month trailing dividend yield of 1.47%.
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 28.80% of the portfolio. Healthcare and Financials round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 8.80% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN).
The top 10 holdings account for about 33.15% of total assets under management.
Performance and Risk
IWL seeks to match the performance of the Russell Top 200 Index before fees and expenses. The Russell Top 200 Index is a float-adjusted, capitalization-weighted index that measures the performance of the largest capitalization sector of the U.S. equity market.
The ETF has added about 8.63% so far this year and is down about -0.12% in the last one year (as of 05/04/2023). In the past 52-week period, it has traded between $84.55 and $102.29.
The ETF has a beta of 0.99 and standard deviation of 19.10% for the trailing three-year period, making it a medium risk choice in the space. With about 197 holdings, it effectively diversifies company-specific risk.
Alternatives
IShares Russell Top 200 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, IWL 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 $305.88 billion in assets, SPDR S&P 500 ETF has $370.45 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 >>
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iShares Russell Top 200 ETF (IWL): 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 8.80% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Click to get this free report iShares Russell Top 200 ETF (IWL): 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 $798.43 million, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.
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Click to get this free report iShares Russell Top 200 ETF (IWL): 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 8.80% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). You should consider the iShares Russell Top 200 ETF (IWL), a passively managed exchange traded fund launched on 09/22/2009.
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Click to get this free report iShares Russell Top 200 ETF (IWL): 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 8.80% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Alternatives IShares Russell Top 200 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 8.80% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Click to get this free report iShares Russell Top 200 ETF (IWL): 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. Why Large Cap Blend Large cap companies usually have a market capitalization above $10 billion.
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16049.0
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2023-05-04 00:00:00 UTC
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US STOCKS-Futures dip as PacWest woes offset Fed pause optimism
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-dip-as-pacwest-woes-offset-fed-pause-optimism
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nan
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nan
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By Ankika Biswas
May 4 (Reuters) - Wall Street futures dipped as news that PacWest Bancorp was exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes.
PacWest Bancorp PACW.O tumbled 34.7% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
Regulators seized troubled First Republic Bank and JPMorgan Chase JPM.N agreed to buy majority of its assets earlier this week, marking the largest U.S. bank failure since the 2008 financial crisis.
Shares of other regional lenders such as KeyCorp KEY.N, Valley National Bancorp VLY.O and Zions Bancorp ZION.O fell between 4.2% and 9.1%, while Western Alliance Bancorp WAL.N dropped 13.4% despite noting that it had not experienced unusual deposit outflows following the sale of First Republic.
"PacWest is more evidence that the U.S. banking crisis is not over yet," said Stuart Cole, chief macro economist at Equiti Capital.
"It (PacWest) does appear that it is struggling, and I would be very surprised if it was not for the same reasons as those before it ... the market is circling all these regional U.S. banks like a vulture, looking which one to pick off next."
The U.S. central bank on Wednesday raised interest rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening, giving officials time to assess the recent bank failures, U.S. debt ceiling situation and sticky inflation.
However, U.S. stocks ended lower on Wednesday after Fed Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
U.S. interest rate futures priced in a pause in tightening at the Fed's June and July policy meetings, according to the CME's FedWatch tool, and also factored in a nearly 50% chance of rate cuts at the September meeting.
Although the end of Fed's market-punishing rate-hike cycle may be in sight, uncertainty over stock valuations and the economic outlook are keeping investors on alert for more turbulence ahead.
Major technology and growth stocks such as Meta Platforms Inc META.O, Microsoft Corp MSFT.O and Alphabet Inc GOOGL.O edged up, helped by a fall in U.S. Treasury yields. US/
Investors will also monitor weekly jobless claims for further clues on the state of the labor market, as well as results from Apple Inc AAPL.O after the closing bell.
At 07:42 a.m. ET, Dow e-minis 1YMcv1 were down 113 points, or 0.34%, S&P 500 e-minis EScv1 were down 14.25 points, or 0.35%, and Nasdaq 100 e-minis NQcv1 were down 7.5 points, or 0.06%.
Chip designer Qualcomm Inc QCOM.O slumped 7.7% after third-quarter forecasts missed estimates, while e-commerce platform Etsy Inc ETSY.O gained 3% on beating expectations for quarterly revenue.
Paramount Global Inc PARA.O dropped 14.9% after it missed first-quarter revenue estimates as it added fewer subscribers at its flagship streaming service and advertisers cut back on spending.
Stocks and the Fedhttps://tmsnrt.rs/3AUufR0
(Reporting by Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta)
((Ankika.Biswas@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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US/ Investors will also monitor weekly jobless claims for further clues on the state of the labor market, as well as results from Apple Inc AAPL.O after the closing bell. By Ankika Biswas May 4 (Reuters) - Wall Street futures dipped as news that PacWest Bancorp was exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes. PacWest Bancorp PACW.O tumbled 34.7% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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US/ Investors will also monitor weekly jobless claims for further clues on the state of the labor market, as well as results from Apple Inc AAPL.O after the closing bell. By Ankika Biswas May 4 (Reuters) - Wall Street futures dipped as news that PacWest Bancorp was exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes. PacWest Bancorp PACW.O tumbled 34.7% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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US/ Investors will also monitor weekly jobless claims for further clues on the state of the labor market, as well as results from Apple Inc AAPL.O after the closing bell. By Ankika Biswas May 4 (Reuters) - Wall Street futures dipped as news that PacWest Bancorp was exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes. PacWest Bancorp PACW.O tumbled 34.7% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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US/ Investors will also monitor weekly jobless claims for further clues on the state of the labor market, as well as results from Apple Inc AAPL.O after the closing bell. By Ankika Biswas May 4 (Reuters) - Wall Street futures dipped as news that PacWest Bancorp was exploring strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve's signal of a likely pause in its interest rate hikes. PacWest Bancorp PACW.O tumbled 34.7% in premarket trading on Thursday after it confirmed it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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16050.0
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2023-05-04 00:00:00 UTC
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Is Franklin U.S. Large Cap Multifactor Index ETF (FLQL) a Strong ETF Right Now?
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AAPL
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https://www.nasdaq.com/articles/is-franklin-u.s.-large-cap-multifactor-index-etf-flql-a-strong-etf-right-now-2
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nan
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nan
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The Franklin U.S. Large Cap Multifactor Index ETF (FLQL) was launched on 04/26/2017, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Blend category of the market.
What Are Smart Beta ETFs?
For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.
Fund Sponsor & Index
FLQL is managed by Franklin Templeton Investments, and this fund has amassed over $851.39 million, which makes it one of the larger ETFs in the Style Box - Large Cap Blend. Before fees and expenses, this particular fund seeks to match the performance of the LibertyQ US Large Cap Equity Index.
The LibertyQ US Large Cap Equity Index seeks to achieve a lower level of risk and higher risk-adjusted performance than the Russell 1000 Index over the long term by applying a multi-factor selection process, which is designed to select equity securities from the Russell 1000 Index that have favorable exposure to four investment style factors quality, value, momentum and low volatility.
Cost & Other Expenses
When considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
Annual operating expenses for this ETF are 0.15%, making it one of the cheaper products in the space.
FLQL's 12-month trailing dividend yield is 2.03%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
For FLQL, it has heaviest allocation in the Information Technology sector --about 30.60% of the portfolio --while Healthcare and Consumer Discretionary round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO).
The top 10 holdings account for about 26.77% of total assets under management.
Performance and Risk
The ETF has added about 5.11% so far this year and is down about -0.34% in the last one year (as of 05/04/2023). In the past 52-week period, it has traded between $36.61 and $43.01.
The fund has a beta of 0.92 and standard deviation of 16.97% for the trailing three-year period. With about 212 holdings, it effectively diversifies company-specific risk.
Alternatives
Franklin U.S. Large Cap Multifactor Index ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Core S&P 500 ETF (IVV) tracks S&P 500 Index and the SPDR S&P 500 ETF (SPY) tracks S&P 500 Index. IShares Core S&P 500 ETF has $305.88 billion in assets, SPDR S&P 500 ETF has $370.45 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Blend.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : 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 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO). Click to get this free report Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Broadcom Inc. (AVGO) : 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. By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
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Click to get this free report Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Broadcom Inc. (AVGO) : 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 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO). The Franklin U.S. Large Cap Multifactor Index ETF (FLQL) was launched on 04/26/2017, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Blend category of the market.
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Click to get this free report Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Broadcom Inc. (AVGO) : 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 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO). The Franklin U.S. Large Cap Multifactor Index ETF (FLQL) was launched on 04/26/2017, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Blend category of the market.
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Looking at individual holdings, Apple Inc (AAPL) accounts for about 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO). Click to get this free report Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Broadcom Inc. (AVGO) : 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 Franklin U.S. Large Cap Multifactor Index ETF (FLQL) was launched on 04/26/2017, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Blend category of the market.
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16051.0
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2023-05-04 00:00:00 UTC
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US STOCKS-Futures waver as PacWest slide offsets Fed pause optimism
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-waver-as-pacwest-slide-offsets-fed-pause-optimism
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Futures: Dow up 0.01%, S&P down 0.03%, Nasdaq up 0.22%
May 4 (Reuters) - U.S. stock index futures wavered on Thursday as PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks, while investors drew comfort from the Federal Reserve signaling a likely pause in its interest rate hikes.
The central bank on Wednesday raised rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening, giving officials time to assess the recent bank failures, U.S. debt ceiling situation and sticky inflation.
U.S. stocks ended lower on Wednesday after Fed Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
U.S. interest rate futures priced in a pause in tightening at the June and July policy meetings, according to the CME's FedWatch tool, and also factored in a more than 50% chance of rate cuts at the September meeting.
The Fed over the past 14 months has raised rates by 500 basis points to tame price pressures in its most aggressive policy tightening since the 1980s.
PacWest Bancorp PACW.O tumbled 36.3% in premarket trading following talks with potential partners and investors about strategic options after shares of the regional lender and its peers got hammered amid fears of a worsening banking crisis.
This comes after regulators seized First Republic Bank, with JPMorgan Chase JPM.N agreeing to buy majority of the assets, marking the largest U.S. bank failure since the 2008 financial crisis.
Shares of other regional lenders such as KeyCorp KEY.N, Valley National Bancorp VLY.O and Zions Bancorp ZION.O fell between 4.5% and 6.6%, while Western Alliance Bancorp WAL.N dropped 17.2% despite noting that it had not experienced unusual deposit outflows following the sale of First Republic.
Investor concerns around banks have remained despite actions by regulators to contain a banking crisis that kicked off with the collapse of two mid-sized U.S. lenders in March.
The KBW Regional Banking index .KRX and S&P 500 Banks index .SPXBK have lost around 29% and 15% so far in 2023.
Major technology and growth stocks such as Meta Platforms Inc META.O, Microsoft Corp MSFT.O and Alphabet Inc GOOGL.O edged up between 0.3% and 0.8% in premarket trading on Thursday, helped by a fall in U.S. Treasury yields.
Although the end of Fed's market-punishing rate-hike cycle may be in sight, uncertainty over stock valuations and the economic outlook are keeping investors on alert for more turbulence ahead.
Moderna Inc MRNA.O, Paramount Global PARA.O, Kellogg Co K.N and Peloton Interactive Inc PTON.O are scheduled to report quarterly results before markets open. Apple Inc AAPL.O results are due after the closing bell.
Investors will also monitor weekly jobless claims for further clues on the state of the labor market.
At 5:27 a.m. ET, Dow e-minis 1YMcv1 were up 3 points, or 0.01%, S&P 500 e-minis EScv1 were down 1.25 points, or 0.03%, and Nasdaq 100 e-minis NQcv1 were up 28.75 points, or 0.22%.
Qualcomm Inc QCOM.O slumped 6.7% after third-quarter forecasts missed estimates, while Etsy Inc ETSY.O gained 3% on beating expectations for quarterly revenue.
Stocks and the Fedhttps://tmsnrt.rs/3AUufR0
(Reporting by Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta)
((Ankika.Biswas@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc AAPL.O results are due after the closing bell. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Futures: Dow up 0.01%, S&P down 0.03%, Nasdaq up 0.22% May 4 (Reuters) - U.S. stock index futures wavered on Thursday as PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks, while investors drew comfort from the Federal Reserve signaling a likely pause in its interest rate hikes. PacWest Bancorp PACW.O tumbled 36.3% in premarket trading following talks with potential partners and investors about strategic options after shares of the regional lender and its peers got hammered amid fears of a worsening banking crisis.
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Apple Inc AAPL.O results are due after the closing bell. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Futures: Dow up 0.01%, S&P down 0.03%, Nasdaq up 0.22% May 4 (Reuters) - U.S. stock index futures wavered on Thursday as PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks, while investors drew comfort from the Federal Reserve signaling a likely pause in its interest rate hikes. The central bank on Wednesday raised rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening, giving officials time to assess the recent bank failures, U.S. debt ceiling situation and sticky inflation.
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Apple Inc AAPL.O results are due after the closing bell. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Futures: Dow up 0.01%, S&P down 0.03%, Nasdaq up 0.22% May 4 (Reuters) - U.S. stock index futures wavered on Thursday as PacWest Bancorp exploring strategic options deepened concerns about the health of regional banks, while investors drew comfort from the Federal Reserve signaling a likely pause in its interest rate hikes. The central bank on Wednesday raised rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening, giving officials time to assess the recent bank failures, U.S. debt ceiling situation and sticky inflation.
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Apple Inc AAPL.O results are due after the closing bell. The Fed over the past 14 months has raised rates by 500 basis points to tame price pressures in its most aggressive policy tightening since the 1980s. PacWest Bancorp PACW.O tumbled 36.3% in premarket trading following talks with potential partners and investors about strategic options after shares of the regional lender and its peers got hammered amid fears of a worsening banking crisis.
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16052.0
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2023-05-04 00:00:00 UTC
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GLOBAL MARKETS-Stocks and euro sag ahead of expected ECB rate hike
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AAPL
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https://www.nasdaq.com/articles/global-markets-stocks-and-euro-sag-ahead-of-expected-ecb-rate-hike
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nan
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nan
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By Marc Jones
LONDON, May 4 (Reuters) - Europe's stock markets and the euro sagged on Thursday as investors waited for another European Central Bank rate rise after the U.S. Federal Reserve signalled that its marathon hiking run might finally have hit pause.
Another rout in regional U.S. bank shares overnight was hardly helping spirits, but with gold XAU= a whisker away from a record high and oil LCOc1 higher after a tough few days, focus was naturally on Frankfurt.
Economists polled by Reuters expect the ECB to raise its borrowing rates for a seventh meeting in a row albeit the consensus is for a smaller quarter-point move rather than the half-point jumps it has been favouring recently.
Matt Ward, a portfolio manager in the global equities team at Barings, said after the Fed had done a decent job "threading the needle" on Wednesday with its quarter point rise, the ECB would be watched closely.
"I am not in the camp of expecting a shock 50 basis point hike, but it's tough to see anything but a continuation of the hawkish tone," he said, pointing to the run of relatively robust data and low unemployment in key countries like Germany.
That likely ECB tone was evident in the bond markets where benchmark government bond yields, which drive the cost of borrowing across Europe, were nudging higher.
It was fractional stuff though. Germany's 10-year yield DE10YT=RR was up just 1 basis point at 2.26% and well down from where it was a month ago, while Italy's IT10YT=RR was only 2 bps higher at 4.152%. GVD/EUR
"We're basically in limbo right now until the decision," which comes at 1215 GMT, said Piet Haines Christiansen, chief strategist for fixed income at Danske Bank.
The Fed on Wednesday dropped a key line that had been in its previously statements on the need for further rate increases, yet Fed Chair Jerome Powell pushed back against expectations that it will soon start cutting them.
It will "take some time" for inflation to fall he said, so "it would not be appropriate to cut rates" this year.
It came too as another U.S. regional bank, PacWest Bancorp PACW.O, reported troubles, reminding investors of the precarious health of some banks despite regulators' assurances around containing the crisis that started with the collapse of Silicon Valley Bank and Signature Bank in March.
"The Fed decision was widely expected, so it didn't provide much of a shock to financial markets," said Tina Teng, market analyst at CMC Markets, in Auckland. "However, I think the whole economic playout is not positive, especially the recent banking rout from the regional banks."
APPLE EYED
Frontrunning the ECB, Norway's central bank raised its benchmark interest rate by 25 basis points to 3.25%, as expected, and added it was likely to hike again in June, and beyond if the Norwegian crown stays weak.
European stocks languished, with the STOXX 600 STOXX down 0.5% led by the carmaking and tourism sectors. .EU
MSCI's 47-country index of world shares was slipping back into the red too .MIWD00000PUS as were Wall Street futures were tech giant Apple AAPL.O was due to reports earnings later.
Asia had been more upbeat .MIAPJ0000PUS although trade has been thinned this week by Japanese holidays.
China's benchmark index .CSI300 opened weaker as mainland markets returned after their May Day holidays but rebounded to end broadly unchanged.
U.S. bond markets had rallied on Wednesday after the Fed meeting TYc1, as did Fed Funds futures 0#FF:, the latter implying a 52% chance of a rate cut as early as July.
The Japanese yen JPY=EBS strengthened 0.1% versus the greenback at 134.51 per dollar, adding to its more than 1% rise on Wednesday.
Back in Europe, the euro EUR=EBS turned lower having briefly flirting with a one-year peak, while Britain's pound GBP=D3 also went flat having touched a roughly 11-month high of $1.25925 in Asia. /FRX
Mizuho analysts said the excitement over the implied pause in Fed tightening might be overdone and that the Fed's guidance "is merely more contemplative".
Brent oil prices rose 1% to $72.83 a barrel on Thursday but it was a fraction of their 9% slump seen over past three days.
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging marketshttp://tmsnrt.rs/2ihRugV
MSCI All Country World Index Market Caphttp://tmsnrt.rs/2EmTD6j
Fed hikes rates to levels last seen before financial crisishttps://tmsnrt.rs/3NA8oFO
The race to raise rateshttps://tmsnrt.rs/3ALpJ7b
ECB hawkishness to moderatehttps://tmsnrt.rs/44226op
(Additional reporting by Harry Robertson in London and Rae Wee in Singapore; Editing by Christina Fincher)
((marc.jones@thomsonreuters.com; +44 (0)20 7513 4042; Reuters Messaging: marc.jones.thomsonreuters.com@reuters.net Twitter @marcjonesrtrs))
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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.EU MSCI's 47-country index of world shares was slipping back into the red too .MIWD00000PUS as were Wall Street futures were tech giant Apple AAPL.O was due to reports earnings later. By Marc Jones LONDON, May 4 (Reuters) - Europe's stock markets and the euro sagged on Thursday as investors waited for another European Central Bank rate rise after the U.S. Federal Reserve signalled that its marathon hiking run might finally have hit pause. Economists polled by Reuters expect the ECB to raise its borrowing rates for a seventh meeting in a row albeit the consensus is for a smaller quarter-point move rather than the half-point jumps it has been favouring recently.
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.EU MSCI's 47-country index of world shares was slipping back into the red too .MIWD00000PUS as were Wall Street futures were tech giant Apple AAPL.O was due to reports earnings later. By Marc Jones LONDON, May 4 (Reuters) - Europe's stock markets and the euro sagged on Thursday as investors waited for another European Central Bank rate rise after the U.S. Federal Reserve signalled that its marathon hiking run might finally have hit pause. Frontrunning the ECB, Norway's central bank raised its benchmark interest rate by 25 basis points to 3.25%, as expected, and added it was likely to hike again in June, and beyond if the Norwegian crown stays weak.
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.EU MSCI's 47-country index of world shares was slipping back into the red too .MIWD00000PUS as were Wall Street futures were tech giant Apple AAPL.O was due to reports earnings later. By Marc Jones LONDON, May 4 (Reuters) - Europe's stock markets and the euro sagged on Thursday as investors waited for another European Central Bank rate rise after the U.S. Federal Reserve signalled that its marathon hiking run might finally have hit pause. It came too as another U.S. regional bank, PacWest Bancorp PACW.O, reported troubles, reminding investors of the precarious health of some banks despite regulators' assurances around containing the crisis that started with the collapse of Silicon Valley Bank and Signature Bank in March.
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.EU MSCI's 47-country index of world shares was slipping back into the red too .MIWD00000PUS as were Wall Street futures were tech giant Apple AAPL.O was due to reports earnings later. By Marc Jones LONDON, May 4 (Reuters) - Europe's stock markets and the euro sagged on Thursday as investors waited for another European Central Bank rate rise after the U.S. Federal Reserve signalled that its marathon hiking run might finally have hit pause. "However, I think the whole economic playout is not positive, especially the recent banking rout from the regional banks."
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16053.0
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2023-05-04 00:00:00 UTC
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Zacks Investment Ideas feature highlights: Apple
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AAPL
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https://www.nasdaq.com/articles/zacks-investment-ideas-feature-highlights%3A-apple
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nan
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nan
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For Immediate Release
Chicago, IL – May 4, 2023 – Today, Zacks Investment Ideas feature highlights Apple AAPL.
Apple (AAPL) Earnings Preview: Bull vs. Bear Case
Apple, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes. As the world’s leading consumer products and technology company, Apple’s earnings act as an important bellwether for the broader economy.
Apple stock has not disappointed this year and the sturdiness of Apple’s returns simply cannot be understated. The stock is up 30% YTD, 300% over the last five years, and 1100% over the last 10 years. It isn’t flawless though, as it was down -30% during 2022. However, it has nearly earned it all back in the first four months of 2023.
Earnings Expectations
Analysts are expecting a YoY decline in Q2 sales, which isn’t great, but also not terrible. Something I don’t often see mentioned about Apple is the strong seasonal tendencies of its revenues.
In the quarterly revenues chart below we see revenues regularly explode higher following the holiday season and are then mostly stagnant through the rest of the year. But Q1 2023 sales were below Q1 2022, which shows that there was a YoY slowdown in the most recent holiday season.
Additionally, analyst earnings revisions have been mixed, which gives Apple a Zacks Rank of #3 (Hold). Q2 expectations are looking down a bit, which lines up with market expectations of a broader economic slowdown in the second half of the year.
Also concerning, last quarter Apple posted a rare sales and earnings miss. Last quarter marked Apple’s first earnings miss since 2016, which was just -$0.01 below expectations and its second sales miss since 2016, which was also just below expectations.
Analysts are expecting earnings growth to decline -5.3% YoY to $1.44 a share. The rest of the year is expected to be mostly flat as well, however next year’s earnings are projected to pick up significantly.
Bear Case
Shorting Apple is almost never advised, and although I don’t consider this my base case it is important to address the primary risks. AAPL stock has acted as an incredible haven this year and its returns make up 25% of S&P 500’s total returns YTD.
At this point investors are treating Apple stock like a Treasury bond, and it has considerably outperformed Treasuries. But is that realistic? Will some doubt start creeping into investors’ minds and cause Apple to roll over.
Apple’s most critical profit center is the iPhone, which makes up 52% of total revenue. In the Q1 report, we saw that iPhone sales were down YoY. Management chalked this up to a one-time event and blamed the miss on supply issues related to the lockdowns in China.
What if it was a demand issue though? What if we are moving past peak iPhone? The chart below shows total annual smartphone sales, which have clearly peaked. This means that Apple is already fighting an uphill battle.
Furthermore, iPhone quality and longevity is improving, and so are prices, and the length of payment plans. I know personally, the iPhone 11 Pro I bought in 2019 still feels as good as new.
Market share is another important consideration. Apple currently has an impressive 23% market share of global smartphones. How much room does Apple have to continue to grow this figure?
The massive Chinese middle class is a very important segment for Apple to target, but what if they start to prefer the Chinese branded phones? Oppo and Xiaomi have made some extremely compelling new phones, particularly their smart flip phones. Flip phones are extremely interesting because they begin to blend phone and tablet products. Flip phones are a product Apple doesn’t have and I haven’t heard rumors of anything in the pipeline.
The black swan event would be a military conflict between the US and China. In this worst case scenario, it would be highly unlikely that the civil relations between Apple and China continue.
The concerns listed are more hypotheticals and questions. Of course, Apple has defied all investor logic for over a decade now, and its downfall is an extremely unlikely event. But doubt and fear can move a stock. Is the next 20% move in Apple stock higher or lower? I don’t know, but there are certainly catalysts the give potential to the -20% possibility.
Technicals
There isn’t a clean chart pattern to trade AAPL from, but this large range looks significant to me. The $180 level is resistance and $130 support. Right now, price is in no-mans land in the middle of this large range.
If price can clear the $180 level, resistance should turn into support, and the next multi-year leg higher in Apple should commence. However, a rejection at $180 would be very significant. If the stock can’t clear that level, it may be indicative of not just Apple, but the market more broadly.
With a recession likely coming later this year, it is possible we will see Apple retest the high of the range, and then as the recession takes hold, swing back down to the bottom of the range. Rather than trying to short the stock, investors would be better off waiting for price to come back down to the $130-$140 buy zone.
Valuation
Apple is currently trading at a one-year forward earnings multiple of 28x, which is above the market average and above its five-year median of 24x. This certainly isn’t a cheap valuation, but as one of the world’s leading companies it isn’t particularly expensive either. This reasonable valuation doesn’t play well for the bears.
Bottom Line
Apple is a juggernaut in the stock market, and its supremacy is undeniable. While I did lay out a bear case, it is more of an exercise in risk management than anything else. While the dynamics that have propelled Apple to this level over the past decade may change, the biggest risk currently is an economic slowdown.
Apple brought luxury to the masses, so if the average person begins to feel the heat of a slowing economy, they probably won’t be buying a new iPhone. But there is a path where the recession is not too bad, and in that case, Apple continues to chug along as the world’s leading stock.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Apple Inc. (AAPL) : Free Stock Analysis Report
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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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For Immediate Release Chicago, IL – May 4, 2023 – Today, Zacks Investment Ideas feature highlights Apple AAPL. Apple (AAPL) Earnings Preview: Bull vs. Bear Case Apple, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes. AAPL stock has acted as an incredible haven this year and its returns make up 25% of S&P 500’s total returns YTD.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report To read this article on Zacks.com click here. For Immediate Release Chicago, IL – May 4, 2023 – Today, Zacks Investment Ideas feature highlights Apple AAPL. Apple (AAPL) Earnings Preview: Bull vs. Bear Case Apple, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes.
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Apple (AAPL) Earnings Preview: Bull vs. Bear Case Apple, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes. For Immediate Release Chicago, IL – May 4, 2023 – Today, Zacks Investment Ideas feature highlights Apple AAPL. AAPL stock has acted as an incredible haven this year and its returns make up 25% of S&P 500’s total returns YTD.
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For Immediate Release Chicago, IL – May 4, 2023 – Today, Zacks Investment Ideas feature highlights Apple AAPL. Apple (AAPL) Earnings Preview: Bull vs. Bear Case Apple, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes. AAPL stock has acted as an incredible haven this year and its returns make up 25% of S&P 500’s total returns YTD.
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16054.0
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2023-05-04 00:00:00 UTC
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Apple Reports Earnings Today; Revenues Could Decline in Q2
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AAPL
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https://www.nasdaq.com/articles/apple-reports-earnings-today-revenues-could-decline-in-q2
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nan
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Apple (NASDAQ:AAPL) will announce its second-quarter financials on Thursday, May 4, 2023. Wall Street expects Apple’s top line to drop, reflecting the ongoing weakness in product sales. However, the momentum in Services revenue could continue to support overall sales.
Analysts Weigh In
Analysts expect Apple to report revenue of $92.91 billion in the second quarter, reflecting a year-over-year decline of about 4.5%. Momentum in Services sales and the easing of supply-chain headwinds and improvement in China could support overall revenue, but tough year-over-year comparisons and pressure on consumer spending due to high inflation and interest rates will likely hurt Mac sales.
Monness analyst Brian White expects AAPL’s Q2 revenue to decrease by 6%. In a note to investors dated May 1, White expects iPhone sales to improve compared to Q1. However, he sees iPhone revenue declining by 4% year-over-year. The analyst projects a 43% drop in Mac revenue, reflecting weak consumer spending trends and normalization in demand post the easing of COVID-led lockdowns.
Nonetheless, White forecasts a 7% growth in Apple’s Services sales, reflecting a growing installed base of active devices and an increase in paid subscriptions.
Along with White, Goldman Sachs analyst Mike Ng sees a 3% drop in Apple’s Q2 revenues. On April 24, the analyst said he expects a 5% fall in AAPL’s product revenues. However, he expects iPhone sales to offset the weakness in Mac revenue.
Given the ongoing pressure on its top line, analysts project AAPL’s earnings to decline in Q2. Wall Street expects AAPL to post earnings of $1.43 a share in Q2, compared with an EPS of $1.52 in the prior year’s quarter.
Is Apple a Buy, Sell, or Hold?
Apple stock has gained about 30% year-to-date. Further, analysts maintain their bullish outlook on AAPL stock. It has received 21 Buy, four Hold, and one Sell recommendations ahead of Q2, reflecting a Strong Buy consensus rating.
The analysts’ average price target of $175.05 implies 3.86% upside potential.
Bottom Line
While Apple’s top line is projected to decline in Q2, iPhone sales could show improvement. Further, the easing of supply-chain headwinds and ongoing strength in the Services segment bodes well for growth. Apple could also provide a favorable update on share buybacks or dividends, which could act as a catalyst.
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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Wall Street expects AAPL to post earnings of $1.43 a share in Q2, compared with an EPS of $1.52 in the prior year’s quarter. Apple (NASDAQ:AAPL) will announce its second-quarter financials on Thursday, May 4, 2023. Monness analyst Brian White expects AAPL’s Q2 revenue to decrease by 6%.
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Apple (NASDAQ:AAPL) will announce its second-quarter financials on Thursday, May 4, 2023. Monness analyst Brian White expects AAPL’s Q2 revenue to decrease by 6%. On April 24, the analyst said he expects a 5% fall in AAPL’s product revenues.
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Apple (NASDAQ:AAPL) will announce its second-quarter financials on Thursday, May 4, 2023. Monness analyst Brian White expects AAPL’s Q2 revenue to decrease by 6%. On April 24, the analyst said he expects a 5% fall in AAPL’s product revenues.
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Apple (NASDAQ:AAPL) will announce its second-quarter financials on Thursday, May 4, 2023. Monness analyst Brian White expects AAPL’s Q2 revenue to decrease by 6%. On April 24, the analyst said he expects a 5% fall in AAPL’s product revenues.
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16055.0
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2023-05-04 00:00:00 UTC
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MORNING BID EUROPE-Next up ECB: Will it be a hawkish 25 or dovish 50?
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AAPL
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https://www.nasdaq.com/articles/morning-bid-europe-next-up-ecb%3A-will-it-be-a-hawkish-25-or-dovish-50
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nan
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nan
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A look at the day ahead in European and global markets from Vidya Ranganathan.
The spotlight moves swiftly from the Fed's "possible pause or pivot" message overnight to the European Central Bank, where the direction of rates is not in question.
It will be a seventh rate rise for the ECB, the central bank for a 20-country zone whose headline inflation is 7%, and it has so far dismissed the ongoing banking crisis as U.S.-specific.
Will the ECB go for a heavier 50 basis-point hike and signal a possible pause, allowing President Christine Lagarde to echo Fed Chair Jerome Powell's "credit tightening" excuse? The odds are for a smaller rise.
The Fed on Wednesday delivered what markets are convinced will be the last rate hike of the cycle. It signalled it may pause further increases, giving officials time to assess the fallout from the bank failures, wait on a political resolution to the U.S. debt ceiling, and monitor inflation.
Another bank soon reported trouble. PacWest Bancorp PACW.O fell nearly 60% after announcing it is exploring strategic options, including a potential sale or capital raise. A liquidity boost it announced in March failed to inspire confidence in its ailing share price.
Those worries left Asian markets pricing in not just a possible peak in U.S. rates but even a fall. Fed Funds futures 0#FF: imply a 52% chance of a rate cut in July.
The focus will move back to the tech sector later in post-market hours in the United States when the world's most valuable company, Apple Inc AAPL.O, may report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business.
Key developments that could influence markets on Thursday:
- Economic events: ECB rate decision, Eurozone March PPI, Germany trade balance, U.S. initial jobless claims
- Earnings: Apple, Shell, Shopify, ArcelorMittal, Shell
China manufacturing PMI - Caixinhttps://tmsnrt.rs/3nsOi5L
Euro zone core inflation remains stickyhttps://tmsnrt.rs/41ZX0Hk
(Reporting by Vidya Ranganathan; Editing by Edmund Klamann)
((vidya.ranganathan@thomsonreuters.com; +65 6973 8261; Reuters Messaging: Twitter:@Vid_Ranganathan))
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 focus will move back to the tech sector later in post-market hours in the United States when the world's most valuable company, Apple Inc AAPL.O, may report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business. Will the ECB go for a heavier 50 basis-point hike and signal a possible pause, allowing President Christine Lagarde to echo Fed Chair Jerome Powell's "credit tightening" excuse? Key developments that could influence markets on Thursday: - Economic events: ECB rate decision, Eurozone March PPI, Germany trade balance, U.S. initial jobless claims - Earnings: Apple, Shell, Shopify, ArcelorMittal, Shell China manufacturing PMI - Caixinhttps://tmsnrt.rs/3nsOi5L Euro zone core inflation remains stickyhttps://tmsnrt.rs/41ZX0Hk (Reporting by Vidya Ranganathan; Editing by Edmund Klamann) ((vidya.ranganathan@thomsonreuters.com; +65 6973 8261; Reuters Messaging: Twitter:@Vid_Ranganathan)) 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 focus will move back to the tech sector later in post-market hours in the United States when the world's most valuable company, Apple Inc AAPL.O, may report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business. The spotlight moves swiftly from the Fed's "possible pause or pivot" message overnight to the European Central Bank, where the direction of rates is not in question. It will be a seventh rate rise for the ECB, the central bank for a 20-country zone whose headline inflation is 7%, and it has so far dismissed the ongoing banking crisis as U.S.-specific.
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The focus will move back to the tech sector later in post-market hours in the United States when the world's most valuable company, Apple Inc AAPL.O, may report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business. The spotlight moves swiftly from the Fed's "possible pause or pivot" message overnight to the European Central Bank, where the direction of rates is not in question. It will be a seventh rate rise for the ECB, the central bank for a 20-country zone whose headline inflation is 7%, and it has so far dismissed the ongoing banking crisis as U.S.-specific.
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The focus will move back to the tech sector later in post-market hours in the United States when the world's most valuable company, Apple Inc AAPL.O, may report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business. A look at the day ahead in European and global markets from Vidya Ranganathan. It will be a seventh rate rise for the ECB, the central bank for a 20-country zone whose headline inflation is 7%, and it has so far dismissed the ongoing banking crisis as U.S.-specific.
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16056.0
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2023-05-04 00:00:00 UTC
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US STOCKS-Wall Street falls as PacWest woes overshadow Fed pause optimism
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-falls-as-pacwest-woes-overshadow-fed-pause-optimism
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nan
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nan
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By Ankika Biswas and Sruthi Shankar
May 4 (Reuters) - Wall Street's main indexes fell on Thursday after PacWest's move to explore strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve signaling a likely pause in interest rate hikes.
PacWest Bancorp PACW.O tumbled 45.2% to a record low after confirming it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
Regulators seized troubled First Republic Bank and JPMorgan Chase JPM.N agreed to buy majority of its assets earlier this week, marking the largest U.S. bank failure since the 2008 financial crisis.
Canada's Toronto-Dominion Bank Group TD.TO called off its $13.4 billion acquisition of First Horizon Corp FHN.N on Thursday, triggering a drop of 37.9% in the U.S. regional bank's shares.
Regional lenders including KeyCorp KEY.N, Valley National Bancorp VLY.O and Zions Bancorp ZION.O fell between 4.9% and 5.9%, while Western Alliance Bancorp WAL.N dropped 17.9%.
The KBW Regional Banking index .KRX dropped 3.3%, while the S&P 500 Banks index .SPXBK fell 1.6%.
"PacWest is more evidence that the U.S. banking crisis is not over yet," said Stuart Cole, chief macro economist at Equiti Capital.
"It (PacWest) does appear that it is struggling, and I would be very surprised if it was not for the same reasons as those before it ... the market is circling all these regional U.S. banks like a vulture, looking which one to pick off next."
The Fed raised interest rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening, giving officials time to assess the recent bank failures, U.S. debt ceiling situation and sticky inflation.
However, U.S. stocks dropped on Wednesday after Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.
U.S. interest rate futures priced in a pause in tightening at the Fed's June and July policy meetings, according to CME's FedWatch tool, while factoring in a nearly 50% chance of rate cuts at the September meeting.
Data on Thursday showed the number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy.
Apple Inc AAPL.O shares fell 1.4%, with the iPhone maker set to report quarterly results after the closing bell.
At 9:38 a.m. ET, the Dow Jones Industrial Average .DJI was down 105.24 points, or 0.31%, at 33,309.00, the S&P 500 .SPX was down 12.35 points, or 0.30%, at 4,078.40, and the Nasdaq Composite .IXIC was down 32.39 points, or 0.27%, at 11,992.94.
Moderna Inc MRNA.O rose 1% on stronger-than-expected sales for its COVID-19 vaccine for the first quarter.
Qualcomm Inc QCOM.O slumped 7.9% after the chip designer's third-quarter forecasts missed estimates, while Paramount Global Inc PARA.O dropped 22.2% after missing first-quarter revenue estimates amid a weak advertising market in its TV business.
Declining issues outnumbered advancers for a 2.04-to-1 ratio on the NYSE and a 1.69-to-1 ratio on the Nasdaq.
The S&P index recorded two new 52-week highs and 14 new lows, while the Nasdaq recorded 16 new highs and 190 new lows.
Stocks and the Fedhttps://tmsnrt.rs/3AUufR0
(Reporting by Ankika Biswas and Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)
((Ankika.Biswas@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc AAPL.O shares fell 1.4%, with the iPhone maker set to report quarterly results after the closing bell. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - Wall Street's main indexes fell on Thursday after PacWest's move to explore strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve signaling a likely pause in interest rate hikes. The Fed raised interest rates by 25 basis points to the 5.00%-5.25% range and signaled a pause in its policy tightening, giving officials time to assess the recent bank failures, U.S. debt ceiling situation and sticky inflation.
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Apple Inc AAPL.O shares fell 1.4%, with the iPhone maker set to report quarterly results after the closing bell. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - Wall Street's main indexes fell on Thursday after PacWest's move to explore strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve signaling a likely pause in interest rate hikes. PacWest Bancorp PACW.O tumbled 45.2% to a record low after confirming it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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Apple Inc AAPL.O shares fell 1.4%, with the iPhone maker set to report quarterly results after the closing bell. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - Wall Street's main indexes fell on Thursday after PacWest's move to explore strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve signaling a likely pause in interest rate hikes. PacWest Bancorp PACW.O tumbled 45.2% to a record low after confirming it was exploring strategic options, including a sale, after shares of the regional lender and peers got hammered amid fears of a worsening banking crisis.
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Apple Inc AAPL.O shares fell 1.4%, with the iPhone maker set to report quarterly results after the closing bell. By Ankika Biswas and Sruthi Shankar May 4 (Reuters) - Wall Street's main indexes fell on Thursday after PacWest's move to explore strategic options deepened concerns about the health of regional banks, countering optimism from the Federal Reserve signaling a likely pause in interest rate hikes. The KBW Regional Banking index .KRX dropped 3.3%, while the S&P 500 Banks index .SPXBK fell 1.6%.
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16057.0
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2023-05-04 00:00:00 UTC
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Is iShares MSCI ACWI Low Carbon Target ETF (CRBN) a Strong ETF Right Now?
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AAPL
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https://www.nasdaq.com/articles/is-ishares-msci-acwi-low-carbon-target-etf-crbn-a-strong-etf-right-now-7
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nan
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The iShares MSCI ACWI Low Carbon Target ETF (CRBN) was launched on 12/08/2014, and is a smart beta exchange traded fund designed to offer broad exposure to the World ETFs category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
Because the fund has amassed over $876.15 million, this makes it one of the larger ETFs in the World ETFs. CRBN is managed by Blackrock. Before fees and expenses, CRBN seeks to match the performance of the MSCI ACWI Low Carbon Target Index.
The MSCI ACWI Low Carbon Target Index is designed to address two dimensions of carbon exposure ? carbon emissions and potential carbon emissions from fossil fuel reserves.
Cost & Other Expenses
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.
Operating expenses on an annual basis are 0.20% for CRBN, making it one of the least expensive products in the space.
It's 12-month trailing dividend yield comes in at 1.81%.
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.
When you look at individual holdings, Apple Inc (AAPL) accounts for about 4.50% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN).
Its top 10 holdings account for approximately 15.89% of CRBN's total assets under management.
Performance and Risk
So far this year, CRBN return is roughly 7.41%, and is down about -0.12% in the last one year (as of 05/04/2023). During this past 52-week period, the fund has traded between $126.30 and $151.98.
CRBN has a beta of 0.94 and standard deviation of 17.98% for the trailing three-year period, which makes the fund a low risk choice in the space. With about 1350 holdings, it effectively diversifies company-specific risk.
Alternatives
IShares MSCI ACWI Low Carbon Target ETF is a reasonable option for investors seeking to outperform the World ETFs segment of the market. However, there are other ETFs in the space which investors could consider.
IShares ESG Aware MSCI EAFE ETF (ESGD) tracks MSCI EAFE ESG Focus Index and the iShares ESG Aware MSCI USA ETF (ESGU) tracks MSCI USA ESG Focus Index. IShares ESG Aware MSCI EAFE ETF has $7.34 billion in assets, iShares ESG Aware MSCI USA ETF has $13.35 billion. ESGD has an expense ratio of 0.20% and ESGU charges 0.15%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the World ETFs.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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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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iShares MSCI ACWI Low Carbon Target ETF (CRBN): 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
iShares ESG Aware MSCI EAFE ETF (ESGD): ETF Research Reports
iShares ESG Aware MSCI USA ETF (ESGU): 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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When you look at individual holdings, Apple Inc (AAPL) accounts for about 4.50% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Click to get this free report iShares MSCI ACWI Low Carbon Target ETF (CRBN): 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 iShares ESG Aware MSCI EAFE ETF (ESGD): ETF Research Reports iShares ESG Aware MSCI USA ETF (ESGU): ETF Research Reports To read this article on Zacks.com click here. There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
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Click to get this free report iShares MSCI ACWI Low Carbon Target ETF (CRBN): 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 iShares ESG Aware MSCI EAFE ETF (ESGD): ETF Research Reports iShares ESG Aware MSCI USA ETF (ESGU): ETF Research Reports To read this article on Zacks.com click here. When you look at individual holdings, Apple Inc (AAPL) accounts for about 4.50% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). IShares ESG Aware MSCI EAFE ETF (ESGD) tracks MSCI EAFE ESG Focus Index and the iShares ESG Aware MSCI USA ETF (ESGU) tracks MSCI USA ESG Focus Index.
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Click to get this free report iShares MSCI ACWI Low Carbon Target ETF (CRBN): 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 iShares ESG Aware MSCI EAFE ETF (ESGD): ETF Research Reports iShares ESG Aware MSCI USA ETF (ESGU): ETF Research Reports To read this article on Zacks.com click here. When you look at individual holdings, Apple Inc (AAPL) accounts for about 4.50% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). The iShares MSCI ACWI Low Carbon Target ETF (CRBN) was launched on 12/08/2014, and is a smart beta exchange traded fund designed to offer broad exposure to the World ETFs category of the market.
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When you look at individual holdings, Apple Inc (AAPL) accounts for about 4.50% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Click to get this free report iShares MSCI ACWI Low Carbon Target ETF (CRBN): 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 iShares ESG Aware MSCI EAFE ETF (ESGD): ETF Research Reports iShares ESG Aware MSCI USA ETF (ESGU): ETF Research Reports To read this article on Zacks.com click here. The iShares MSCI ACWI Low Carbon Target ETF (CRBN) was launched on 12/08/2014, and is a smart beta exchange traded fund designed to offer broad exposure to the World ETFs category of the market.
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16058.0
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2023-05-03 00:00:00 UTC
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Apple Stock (NASDAQ:AAPL): Fintech Push Comes at an Opportune Time
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AAPL
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https://www.nasdaq.com/articles/apple-stock-nasdaq%3Aaapl%3A-fintech-push-comes-at-an-opportune-time
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nan
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nan
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Apple (NASDAQ:AAPL) stock has been making headlines for launching a savings account that sports a competitive 4.15% interest rate. Undoubtedly, the latest product offering to come from Apple's fintech push comes at a pretty exciting time, at least through the eyes of a potential market disruptor. As Apple wanders deeper into financial services with its disruptor hat on, it's hard to be anything but bullish on the firm.
U.S. Regional Banks Feel Pressure. Apple May Be Seeing an Opportunity
The U.S. banks have been under a lot of selling pressure for well over a month now. Indeed, it all started with SVB Financial's failure. As other regionals fell under the weight of the Fed's interest rate hikes, a full-blown U.S. regional banking crisis came to be. Bad bond investments eroded depositor confidence, eventually paving the way for a bank run.
It's difficult to tell when this pressure hurting the regional banks will be contained. Over a span of a month and a half, we've witnessed the second, third, and fourth-largest bank failures in U.S. history. After such a wave of failures, it's no mystery why some depositors feel a bit on edge. While larger U.S. banks have mostly been steady in this storm, they too could stand to lose a bit as depositors look to consider alternatives.
Of course, there have always been fintech firms, neobanks, and smaller financial institutions that have offered highly-competitive rates on deposits. That said, never before has there been a respected, consumer-centric behemoth of a firm like Apple getting in on the financial services space. Apple's a $2.65 trillion company that many tech-savvy users already trust day-to-day with their data. For many Apple users, this trust has been built for well over a decade.
When it comes to financial services, trust and reliability play a massive role in where depositors or investors choose to take their business. Of course, competitive rates always help, but they're not always the determining factor. With Apple pulling the curtain on its high-rate savings account, I think the firm could stand to win a lot of business as confidence in banks takes a modest blow with every regional bank that goes down.
Apple and Goldman Could Continue to Make Moves in Consumer Banking
Apple may be a relative newcomer to the financial services space, but it has all the tools it needs to thrive. With a bit of help from Goldman Sachs (NYSE:GS), I believe Apple is the one firm that could upend the financial industry as we know it. Undoubtedly, the business of banking can be profitable, but it can also be wildly turbulent when the tides turn. With Apple teaming up with Goldman (and perhaps other banks in the future), the firm may find itself with the ability to enjoy more of the feast to be had within financial services minus potential indigestion.
At this juncture, many depositors may be inclined to take money out of those sub-2% savings accounts and stash it with Apple, where they can make more than double the interest.
Reportedly, 69% of Apple Card holders expressed interest in opening up a savings account. Younger consumers, specifically those in the Millennial and Gen Z cohort, may be inclined to get an Apple Card if it means gaining excess to such a competitive savings account.
According to a report conducted by Forbes, Apple's high-yield savings account brought in nearly $1 billion worth of deposits in just four days. That's impressive.
Apple has a competitive rate, a reputation built on decades of trust, and a brand that's virtually impossible to match. It's no mystery why Apple's foray into banking has been met with such profound early success.
Is AAPL Stock a Buy, According to Analysts?
Turning to Wall Street, AAPL stock comes in as a Strong Buy. Out of 25 analyst ratings, there are 21 Buys, three Holds, and one Sell recommendation. The average Apple price target is $177.23, implying upside potential of 5.8%. Analyst price targets range from a low of $120.00 per share to a high of $205.00 per share.
The Bottom Line on Apple Stock and Its Fintech Push
Apple has always been about doing things better than the competitors it seeks to go up against. As select banks face a crisis of confidence, I'd look for more people to take their money over to Apple, not just for the higher rate but for greater convenience and more peace of mind.
Going into earnings, I'd look for more details about Apple's fintech push. Even if the quarterly results fail to impress, commentary on Apple's direction could be a needle-mover for the stock.
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 has been making headlines for launching a savings account that sports a competitive 4.15% interest rate. Is AAPL Stock a Buy, According to Analysts? Turning to Wall Street, AAPL stock comes in as a Strong Buy.
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Apple (NASDAQ:AAPL) stock has been making headlines for launching a savings account that sports a competitive 4.15% interest rate. Is AAPL Stock a Buy, According to Analysts? Turning to Wall Street, AAPL stock comes in as a Strong Buy.
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Apple (NASDAQ:AAPL) stock has been making headlines for launching a savings account that sports a competitive 4.15% interest rate. Is AAPL Stock a Buy, According to Analysts? Turning to Wall Street, AAPL stock comes in as a Strong Buy.
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Apple (NASDAQ:AAPL) stock has been making headlines for launching a savings account that sports a competitive 4.15% interest rate. Is AAPL Stock a Buy, According to Analysts? Turning to Wall Street, AAPL stock comes in as a Strong Buy.
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16059.0
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2023-05-03 00:00:00 UTC
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Will Slowing Services Growth Hurt Apple's (AAPL) Q2 Earnings?
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AAPL
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https://www.nasdaq.com/articles/will-slowing-services-growth-hurt-apples-aapl-q2-earnings
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nan
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nan
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Apple’s AAPL second-quarter fiscal 2023 results, to be reported on May 4, are expected to reflect the impacts of the sluggishness in the Services business.
The segment, which includes revenues from the App Store, Apple Music, iCloud, Apple Arcade, Apple TV+, Apple News+ and Apple Card, accounted for 17.7% of sales in first-quarter fiscal 2023.
Although Apple’s business primarily runs around its flagship iPhone, the Services portfolio has emerged as the company’s new cash cow.
Apple currently has more than 935 million paid subscribers across its Services portfolio. The App Store has been continuing to draw the attention of prominent developers from around the world, helping the company offer appealing apps to drive the App Store traffic, thereby expanding the subscriber base.
The company expected Services revenue growth to be negatively impacted by challenging macroeconomic conditions, unfavorable forex, as well as weakness in digital advertising and gaming. Services revenues grew 6.4% year over year to $20.77 billion in the fiscal first quarter.
Apple Inc. Revenue (TTM)
Apple Inc. revenue-ttm | Apple Inc. Quote
Click here to know how Apple’s overall fiscal second-quarter results are likely to be.
Apple’s Non-iPhone Revenues to Decline in Q2
Apple’s non-iPhone portfolio, which comprises Mac, iPad and Wearables, is expected to have declined in the fiscal second quarter.
This Zacks Rank #3 (Hold) company expects Mac and iPad revenues to decline in the double digits on a year-over-year basis due to challenging comparisons and macroeconomic headwinds. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Mac revenues are expected to have suffered from weak PC demand. Per Gartner’s latest report, 55.2 million PCs were shipped in the first quarter (March-end) of 2023, down 30% from the year-ago period. Shipments from Lenovo LNVGY, HP HPQ and Dell Technologies DELL declined 30.2%, 24.2% and 30.9%, respectively. Apple witnessed a 34.2% decline, worse than Lenovo, HP and Dell’s figures.
Overall, Lenovo remained the top vendor, with a market share of 23.3%. HP holds the second spot, with a market share of 21.8% in worldwide PC shipments. Dell’s market share was 17.3% in the first quarter of 2023.
Apple’s market share decreased from 9.3% in first-quarter 2022 to 8.7% in first-quarter 2023.
The Zacks Consensus Estimate for Mac revenues for the fiscal second quarter is pegged at $8.03 billion, implying a 23% decline from the figure reported in the year-ago quarter.
Moreover, the Zacks Consensus Estimate for iPad is pegged at $6.72 billion, suggesting a 12.1% decline from the figure reported in the year-ago quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
HP Inc. (HPQ) : Free Stock Analysis Report
Dell Technologies Inc. (DELL) : Free Stock Analysis Report
Lenovo Group Ltd. (LNVGY) : 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’s AAPL second-quarter fiscal 2023 results, to be reported on May 4, are expected to reflect the impacts of the sluggishness in the Services business. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Lenovo Group Ltd. (LNVGY) : Free Stock Analysis Report To read this article on Zacks.com click here. The company expected Services revenue growth to be negatively impacted by challenging macroeconomic conditions, unfavorable forex, as well as weakness in digital advertising and gaming.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Lenovo Group Ltd. (LNVGY) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple’s AAPL second-quarter fiscal 2023 results, to be reported on May 4, are expected to reflect the impacts of the sluggishness in the Services business. Shipments from Lenovo LNVGY, HP HPQ and Dell Technologies DELL declined 30.2%, 24.2% and 30.9%, respectively.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Lenovo Group Ltd. (LNVGY) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple’s AAPL second-quarter fiscal 2023 results, to be reported on May 4, are expected to reflect the impacts of the sluggishness in the Services business. The segment, which includes revenues from the App Store, Apple Music, iCloud, Apple Arcade, Apple TV+, Apple News+ and Apple Card, accounted for 17.7% of sales in first-quarter fiscal 2023.
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Apple’s AAPL second-quarter fiscal 2023 results, to be reported on May 4, are expected to reflect the impacts of the sluggishness in the Services business. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report HP Inc. (HPQ) : Free Stock Analysis Report Dell Technologies Inc. (DELL) : Free Stock Analysis Report Lenovo Group Ltd. (LNVGY) : Free Stock Analysis Report To read this article on Zacks.com click here. Apple currently has more than 935 million paid subscribers across its Services portfolio.
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16060.0
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2023-05-03 00:00:00 UTC
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Apple Earnings Preview: Bull vs Bear Case for AAPL Stock
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AAPL
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https://www.nasdaq.com/articles/apple-earnings-preview%3A-bull-vs-bear-case-for-aapl-stock
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nan
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nan
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Apple AAPL, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes. As the world’s leading consumer products and technology company, Apple’s earnings act as an important bellwether for the broader economy.
Apple stock has not disappointed this year and the sturdiness of Apple’s returns simply cannot be understated. The stock is up 30% YTD, 300% over the last five years, and 1100% over the last 10 years. It isn’t flawless though, as it was down -30% during 2022. However, it has nearly earned it all back in the first four months of 2023.
Image Source: Zacks Investment Research
Earnings Expectations
Analysts are expecting a YoY decline in Q2 sales, which isn’t great, but also not terrible. Something I don’t often see mentioned about Apple is the strong seasonal tendencies of its revenues.
In the quarterly revenues chart below we see revenues regularly explode higher following the holiday season and are then mostly stagnant through the rest of the year. But Q1 2023 sales were below Q1 2022, which shows that there was a YoY slowdown in the most recent holiday season.
Image Source: Zacks Investment Research
Additionally, analyst earnings revisions have been mixed, which gives Apple a Zacks Rank of #3 (Hold). Q2 expectations are looking down a bit, which lines up with market expectations of a broader economic slowdown in the second half of the year.
Also concerning, last quarter Apple posted a rare sales and earnings miss. Last quarter marked Apple’s first earnings miss since 2016, which was just -$0.01 below expectations and its second sales miss since 2016, which was also just below expectations.
Image Source: Zacks Investment Research
Analysts are expecting earnings growth to decline -5.3% YoY to $1.44 a share. The rest of the year is expected to be mostly flat as well, however next year’s earnings are projected to pick up significantly.
Image Source: Zacks Investment Research
Bear Case
Shorting Apple is almost never advised, and although I don’t consider this my base case it is important to address the primary risks. AAPL stock has acted as an incredible haven this year and its returns make up 25% of S&P 500’s total returns YTD.
At this point investors are treating Apple stock like a Treasury bond, and it has considerably outperformed Treasuries. But is that realistic? Will some doubt start creeping into investors’ minds and cause Apple to roll over.
Apple’s most critical profit center is the iPhone, which makes up 52% of total revenue. In the Q1 report, we saw that iPhone sales were down YoY. Management chalked this up to a one-time event and blamed the miss on supply issues related to the lockdowns in China.
What if it was a demand issue though? What if we are moving past peak iPhone? The chart below shows total annual smartphone sales, which have clearly peaked. This means that Apple is already fighting an uphill battle.
Furthermore, iPhone quality and longevity is improving, and so are prices, and the length of payment plans. I know personally, the iPhone 11 Pro I bought in 2019 still feels as good as new.
Image Source: Statista
Market share is another important consideration. Apple currently has an impressive 23% market share of global smartphones. How much room does Apple have to continue to grow this figure?
The massive Chinese middle class is a very important segment for Apple to target, but what if they start to prefer the Chinese branded phones? Oppo and Xiaomi have made some extremely compelling new phones, particularly their smart flip phones. Flip phones are extremely interesting because they begin to blend phone and tablet products. Flip phones are a product Apple doesn’t have and I haven’t heard rumors of anything in the pipeline.
Image Source: Counterpoint
The black swan event would be a military conflict between the US and China. In this worst case scenario, it would be highly unlikely that the civil relations between Apple and China continue.
The concerns listed are more hypotheticals and questions. Of course, Apple has defied all investor logic for over a decade now, and its downfall is an extremely unlikely event. But doubt and fear can move a stock. Is the next 20% move in Apple stock higher or lower? I don’t know, but there are certainly catalysts the give potential to the -20% possibility.
Technicals
There isn’t a clean chart pattern to trade AAPL from, but this large range looks significant to me. The $180 level is resistance and $130 support. Right now, price is in no-mans land in the middle of this large range.
If price can clear the $180 level, resistance should turn into support, and the next multi-year leg higher in Apple should commence. However, a rejection at $180 would be very significant. If the stock can’t clear that level, it may be indicative of not just Apple, but the market more broadly.
With a recession likely coming later this year, it is possible we will see Apple retest the high of the range, and then as the recession takes hold, swing back down to the bottom of the range. Rather than trying to short the stock, investors would be better off waiting for price to come back down to the $130-$140 buy zone.
Image Source: TradingView
Valuation
Apple is currently trading at a one-year forward earnings multiple of 28x, which is above the market average and above its five-year median of 24x. This certainly isn’t a cheap valuation, but as one of the world’s leading companies it isn’t particularly expensive either. This reasonable valuation doesn’t play well for the bears.
Image Source: Zacks Investment Research
Bottom Line
Apple is a juggernaut in the stock market, and its supremacy is undeniable. While I did lay out a bear case, it is more of an exercise in risk management than anything else. While the dynamics that have propelled Apple to this level over the past decade may change, the biggest risk currently is an economic slowdown.
Apple brought luxury to the masses, so if the average person begins to feel the heat of a slowing economy, they probably won’t be buying a new iPhone. But there is a path where the recession is not too bad, and in that case, Apple continues to chug along as the world’s leading stock.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
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, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes. AAPL stock has acted as an incredible haven this year and its returns make up 25% of S&P 500’s total returns YTD. Technicals There isn’t a clean chart pattern to trade AAPL from, but this large range looks significant to me.
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Apple AAPL, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes. AAPL stock has acted as an incredible haven this year and its returns make up 25% of S&P 500’s total returns YTD. Technicals There isn’t a clean chart pattern to trade AAPL from, but this large range looks significant to me.
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Apple AAPL, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes. AAPL stock has acted as an incredible haven this year and its returns make up 25% of S&P 500’s total returns YTD. Technicals There isn’t a clean chart pattern to trade AAPL from, but this large range looks significant to me.
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Apple AAPL, the unequivocal king of the stock market reports earnings Thursday, May 4 after the market closes. AAPL stock has acted as an incredible haven this year and its returns make up 25% of S&P 500’s total returns YTD. Technicals There isn’t a clean chart pattern to trade AAPL from, but this large range looks significant to me.
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16061.0
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2023-05-03 00:00:00 UTC
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After Hours Most Active for May 3, 2023 : STAG, AXON, FTI, AAPL, VCSH, JD, PFE, CHGG, VZ, TQQQ, QQQ, EQT
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-may-3-2023-%3A-stag-axon-fti-aapl-vcsh-jd-pfe-chgg-vz-tqqq-qqq
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nan
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The NASDAQ 100 After Hours Indicator is up 9.06 to 13,039.27. The total After hours volume is currently 74,856,718 shares traded.
The following are the most active stocks for the after hours session:
Stag Industrial, Inc. (STAG) is -0.1 at $34.90, with 11,719,722 shares traded. STAG's current last sale is 96.94% of the target price of $36.
Axon Enterprise, Inc. (AXON) is -0.58 at $220.30, with 8,679,786 shares traded.AXON is scheduled to provide an earnings report on 5/9/2023, for the fiscal quarter ending Mar2023. The consensus earnings per share forecast is 0.03 per share, which represents a 76 percent increase over the EPS one Year Ago
TechnipFMC plc (FTI) is unchanged at $12.82, with 3,112,883 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023. The consensus EPS forecast is $0.15. As reported by Zacks, the current mean recommendation for FTI is in the "buy range".
Apple Inc. (AAPL) is -0.04 at $167.41, with 2,963,644 shares traded.AAPL is scheduled to provide an earnings report on 5/4/2023, for the fiscal quarter ending Mar2023. The consensus earnings per share forecast is 1.44 per share, which represents a 152 percent increase over the EPS one Year Ago
Vanguard Short-Term Corporate Bond ETF (VCSH) is +0.015 at $76.47, with 1,983,830 shares traded. This represents a 4.38% increase from its 52 Week Low.
JD.com, Inc. (JD) is unchanged at $34.68, with 1,964,375 shares traded. As reported by Zacks, the current mean recommendation for JD is in the "buy range".
Pfizer, Inc. (PFE) is unchanged at $38.45, with 1,519,199 shares traded. PFE's current last sale is 81.81% of the target price of $47.
Chegg, Inc. (CHGG) is +0.02 at $10.19, with 1,453,460 shares traded. CHGG's current last sale is 50.95% of the target price of $20.
Verizon Communications Inc. (VZ) is unchanged at $37.98, with 1,412,254 shares traded. VZ's current last sale is 89.36% of the target price of $42.5.
ProShares UltraPro QQQ (TQQQ) is +0.11 at $26.99, with 1,357,234 shares traded. This represents a 67.64% increase from its 52 Week Low.
Invesco QQQ Trust, Series 1 (QQQ) is +0.49 at $317.78, with 1,338,350 shares traded. This represents a 24.98% increase from its 52 Week Low.
EQT Corporation (EQT) is unchanged at $31.50, with 1,247,401 shares traded. As reported by Zacks, the current mean recommendation for EQT is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc. (AAPL) is -0.04 at $167.41, with 2,963,644 shares traded.AAPL is scheduled to provide an earnings report on 5/4/2023, for the fiscal quarter ending Mar2023. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023. Vanguard Short-Term Corporate Bond ETF (VCSH) is +0.015 at $76.47, with 1,983,830 shares traded.
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Apple Inc. (AAPL) is -0.04 at $167.41, with 2,963,644 shares traded.AAPL is scheduled to provide an earnings report on 5/4/2023, for the fiscal quarter ending Mar2023. Axon Enterprise, Inc. (AXON) is -0.58 at $220.30, with 8,679,786 shares traded.AXON is scheduled to provide an earnings report on 5/9/2023, for the fiscal quarter ending Mar2023. The consensus earnings per share forecast is 0.03 per share, which represents a 76 percent increase over the EPS one Year Ago
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Apple Inc. (AAPL) is -0.04 at $167.41, with 2,963,644 shares traded.AAPL is scheduled to provide an earnings report on 5/4/2023, for the fiscal quarter ending Mar2023. The consensus earnings per share forecast is 0.03 per share, which represents a 76 percent increase over the EPS one Year Ago The consensus earnings per share forecast is 1.44 per share, which represents a 152 percent increase over the EPS one Year Ago
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Apple Inc. (AAPL) is -0.04 at $167.41, with 2,963,644 shares traded.AAPL is scheduled to provide an earnings report on 5/4/2023, for the fiscal quarter ending Mar2023. The NASDAQ 100 After Hours Indicator is up 9.06 to 13,039.27. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2023.
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16062.0
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2023-05-03 00:00:00 UTC
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Qualcomm sees dull third quarter on weak chip demand for smartphones
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AAPL
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https://www.nasdaq.com/articles/qualcomm-sees-dull-third-quarter-on-weak-chip-demand-for-smartphones
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nan
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nan
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May 3 (Reuters) - Qualcomm Inc QCOM.O forecast third-quarter revenue and profit below Wall Street estimates on Wednesday on worries it will take longer for the smartphone industry to exhaust the excess supply before fresh orders start flowing in.
The company forecast revenue between $8.1 billion and $8.9 billion. Analysts polled by Refinitiv expected revenue of $9.14 billion.
It expects adjusted earnings per share to be between $1.70 and $1.90, compared to analysts expectations of $2.16.
The company said its forecast includes the "continued impact of the macroeconomic headwinds, weaker global handset units and channel inventory drawdown".
It also said a larger-than-normal sequential decline in its chip revenue forecast was mainly due "to the timing of purchases by a modem-only handset customer".
The company forecast revenue for the segment to be between $6.9 billion and $7.5 billion.
(Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee in Oakland, California; Editing by Arun Koyyur)
((Chavi.Mehta@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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May 3 (Reuters) - Qualcomm Inc QCOM.O forecast third-quarter revenue and profit below Wall Street estimates on Wednesday on worries it will take longer for the smartphone industry to exhaust the excess supply before fresh orders start flowing in. The company said its forecast includes the "continued impact of the macroeconomic headwinds, weaker global handset units and channel inventory drawdown". It also said a larger-than-normal sequential decline in its chip revenue forecast was mainly due "to the timing of purchases by a modem-only handset customer".
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The company forecast revenue between $8.1 billion and $8.9 billion. Analysts polled by Refinitiv expected revenue of $9.14 billion. The company forecast revenue for the segment to be between $6.9 billion and $7.5 billion.
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The company forecast revenue between $8.1 billion and $8.9 billion. The company forecast revenue for the segment to be between $6.9 billion and $7.5 billion. (Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee in Oakland, California; Editing by Arun Koyyur) ((Chavi.Mehta@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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May 3 (Reuters) - Qualcomm Inc QCOM.O forecast third-quarter revenue and profit below Wall Street estimates on Wednesday on worries it will take longer for the smartphone industry to exhaust the excess supply before fresh orders start flowing in. Analysts polled by Refinitiv expected revenue of $9.14 billion. The company said its forecast includes the "continued impact of the macroeconomic headwinds, weaker global handset units and channel inventory drawdown".
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16063.0
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2023-05-03 00:00:00 UTC
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All Eyes on Fed Rate Decision: Key Stocks to Watch
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AAPL
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https://www.nasdaq.com/articles/all-eyes-on-fed-rate-decision%3A-key-stocks-to-watch
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nan
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nan
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The Federal Open Market Committee (FOMC) is widely expected to pull the trigger on another 25-basis point (0.25%) rate hike today. But given three of the largest U.S. bank failures in recent months, will the Fed stay the course?
Current odds are showing a roughly 85% chance of a hike today, versus about a 15% chance of a pause:
Image Source: CME Group
Inflation – A Thorn in the Fed’s Side
Coming into today’s widely anticipated rate hike, the Federal Funds Rate was at an upper bound of 5%. The most recent Consumer Price Index (CPI) data from March shows prices increased at a 5% clip year-over-year. Keep in mind that the data is lagging, but it appears with today’s hike the Federal Funds Rate will be above the CPI – a necessary ingredient that has preceded the end of the past eight tightening cycles. This adds credence to the view that a potential hike later this afternoon may be the final push, culminating in the end of this current hiking cycle.
Image Source: Zacks Investment Research
Last week, the U.S. Bureau of Economic Analysis (BEA) conveyed the latest Personal Consumption Expenditure (PCE) inflation data from March, which was mainly in line with the consensus of a slight cooling. The PCE index reflects changes in the prices of goods and services purchased by consumers.
The headline figure decelerated to 4.2% year-over-year, substantially lower than the 5.1% reading in February. A monthly rise of just 0.1% was the softest dating back to July 2022. Energy prices declined 3.7% on the month, while food prices dropped 0.2%, relieving households of at least some pressure.
Core PCE, which strips out the more volatile food and energy components and is the Fed’s preferred inflation gauge, came in at 4.6% - just above estimates, but a tad lower than the 4.7% from February.
Regional Banking Fiasco
Markets have stumbled heading into Wednesday’s Fed announcement, closing lower the first two trading days of May. The recent regional banking turmoil resumed, with the SPDR S&P Regional Banking ETF KRE shedding 6% during Tuesday’s session. Shares of PacWest Bancorp PACW plunged over 27%, while Western Alliance WAL sank 15%.
The volatility came on the heels of yet another major bank failure this year, as regulators took possession of San Francisco-based First Republic Bank FRC early Monday. First Republic marked the third failure of an American bank after the collapse of Silicon Valley Bank and Signature Bank in March. Three of the four largest bank failures in U.S. history have occurred in the last two months.
The bulk of First Republic’s business was sold to JPMorgan Chase JPM, who assumed $92 billion of First Republic’s insured and uninsured deposits. JPMorgan also purchased the majority of the bank’s assets.
Regional bank shares are attempting to stabilize on Wednesday ahead of the Fed announcement, with the KRE ETF up better than 2% in early trading.
Stocks to Watch
Despite the financial headwinds, certain pockets of the market have been thriving. Stocks in our Zacks Retail – Restaurant industry group have been outperforming this year. Wingstop WING reported first-quarter earnings this morning, beating on both the top and bottom lines.
Q1 earnings of $0.59/share handily exceeded the $0.46 Zacks Consensus Estimate, a surprise of 28.26%. The figure compared favorably to the $0.34/share from a year ago. Revenues of $108.72 million also topped estimates by 7.73%. Shares were roughly flat in early trading and have advanced nearly 45% this year. WING is a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
Another stock in this industry, Ruth’s Hospitality Group RUTH, soared more than 30% early Wednesday after Darden Restaurants announced its acquisition of Ruth’s Hospitality Group in a $715 million dollar deal.
Image Source: Zacks Investment Research
On the tech front, Advanced Micro Devices AMD posted quarterly earnings results after the close on Tuesday. EPS of $0.60 beat out the $0.56/share Zacks Consensus Estimate, while revenues of $5.35 billion inched past forecasts. The stock tumbled 8% in early trading, as the chip giant’s revenue and gross margin guidance were below consensus for the second quarter.
Image Source: Zacks Investment Research
Apple AAPL is set to report fiscal second-quarter results tomorrow after the close. Current estimates call for a -5.26% earnings decline at $1.44/share on -4.07% lower revenues ($93.32 billion). While many stocks have been punished this earnings season, big tech has held up very well, and it wouldn’t be surprising if Apple joins the party.
Investors will be paying close attention to statements from Fed Chair Jerome Powell this afternoon during the 2:30 p.m. EST press conference. Keep an eye on leading stocks as volatility is sure to be present around the announcement.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
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
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report
Ruth's Hospitality Group, Inc. (RUTH) : Free Stock Analysis Report
Western Alliance Bancorporation (WAL) : Free Stock Analysis Report
PacWest Bancorp (PACW) : Free Stock Analysis Report
Wingstop Inc. (WING) : Free Stock Analysis Report
SPDR S&P Regional Banking ETF (KRE): 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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Image Source: Zacks Investment Research Apple AAPL is set to report fiscal second-quarter results tomorrow after the close. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Ruth's Hospitality Group, Inc. (RUTH) : Free Stock Analysis Report Western Alliance Bancorporation (WAL) : Free Stock Analysis Report PacWest Bancorp (PACW) : Free Stock Analysis Report Wingstop Inc. (WING) : Free Stock Analysis Report SPDR S&P Regional Banking ETF (KRE): ETF Research Reports To read this article on Zacks.com click here. Keep in mind that the data is lagging, but it appears with today’s hike the Federal Funds Rate will be above the CPI – a necessary ingredient that has preceded the end of the past eight tightening cycles.
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Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Ruth's Hospitality Group, Inc. (RUTH) : Free Stock Analysis Report Western Alliance Bancorporation (WAL) : Free Stock Analysis Report PacWest Bancorp (PACW) : Free Stock Analysis Report Wingstop Inc. (WING) : Free Stock Analysis Report SPDR S&P Regional Banking ETF (KRE): ETF Research Reports To read this article on Zacks.com click here. Image Source: Zacks Investment Research Apple AAPL is set to report fiscal second-quarter results tomorrow after the close. Image Source: Zacks Investment Research Another stock in this industry, Ruth’s Hospitality Group RUTH, soared more than 30% early Wednesday after Darden Restaurants announced its acquisition of Ruth’s Hospitality Group in a $715 million dollar deal.
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Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Ruth's Hospitality Group, Inc. (RUTH) : Free Stock Analysis Report Western Alliance Bancorporation (WAL) : Free Stock Analysis Report PacWest Bancorp (PACW) : Free Stock Analysis Report Wingstop Inc. (WING) : Free Stock Analysis Report SPDR S&P Regional Banking ETF (KRE): ETF Research Reports To read this article on Zacks.com click here. Image Source: Zacks Investment Research Apple AAPL is set to report fiscal second-quarter results tomorrow after the close. Image Source: Zacks Investment Research Last week, the U.S. Bureau of Economic Analysis (BEA) conveyed the latest Personal Consumption Expenditure (PCE) inflation data from March, which was mainly in line with the consensus of a slight cooling.
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Image Source: Zacks Investment Research Apple AAPL is set to report fiscal second-quarter results tomorrow after the close. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Ruth's Hospitality Group, Inc. (RUTH) : Free Stock Analysis Report Western Alliance Bancorporation (WAL) : Free Stock Analysis Report PacWest Bancorp (PACW) : Free Stock Analysis Report Wingstop Inc. (WING) : Free Stock Analysis Report SPDR S&P Regional Banking ETF (KRE): ETF Research Reports To read this article on Zacks.com click here. But given three of the largest U.S. bank failures in recent months, will the Fed stay the course?
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16064.0
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2023-05-03 00:00:00 UTC
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Ford CEO says price cuts in EV market 'a worrying trend'
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AAPL
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https://www.nasdaq.com/articles/ford-ceo-says-price-cuts-in-ev-market-a-worrying-trend-0
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nan
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nan
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Adds Ford CEO comments on Apple CarPlay, retraining the workforce, EV charging infrastructure.
WASHINGTON, May 3 (Reuters) - Ford CEO Jim Farley said Wednesday price cuts in the electric vehicle market "is a worrying trend" after the U.S. automaker dropped prices for its Mustang Mach-E in response to a series of reductions by rival Tesla TSLA.O.
Ford on Tuesday announced a price cut of up to 8% of its Mustang Mach-E electric vehicle, the second cut the automaker announced this year.
Farley compared the price war in the EV market to Henry Ford's series of price cuts for the Model T starting in 1913. But the Ford Chief said the company founder's strategy ultimately put Ford at risk.
"You do not want to commoditize the product," Farley said at a Wall Street Journal forum.
"The resale value for people who bought at higher prices is awful. They never forget," Farley said. Ford will follow Tesla price cuts for models such as the Mustang Mach-E that competes head-on with Tesla's Model Y, he said. "There’s a limit to how far we’ll go."
On other points, Farley said Ford does not plan to drop Apple CarPlay software that allows customers to mirror their smartphone screens in a vehicle's dashboard. General Motors Co recently said it will phase out CarPlay in future models.
In terms of entertainment streamed into a car, "we kind of lost that battle ten years ago," Farley said. Moreover, "70% of Ford customers in the U.S. are Apple customers."
Ford chose to build a new electric vehicle manufacturing hub near Memphis, Tennessee, in part because the region has cleaner electricity from hydro and nuclear facilities, Farley said.
Ford will train workers for that facility, and will invest in retraining current workers, Farley said. But not all Ford employees will make the transition to electric vehicles, he said.
"We can't upskill everyone," he said. "It will take too much time."
(Reporting by David Shepardson and Joseph White; Editing by Aurora Ellis)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds Ford CEO comments on Apple CarPlay, retraining the workforce, EV charging infrastructure. On other points, Farley said Ford does not plan to drop Apple CarPlay software that allows customers to mirror their smartphone screens in a vehicle's dashboard. In terms of entertainment streamed into a car, "we kind of lost that battle ten years ago," Farley said.
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WASHINGTON, May 3 (Reuters) - Ford CEO Jim Farley said Wednesday price cuts in the electric vehicle market "is a worrying trend" after the U.S. automaker dropped prices for its Mustang Mach-E in response to a series of reductions by rival Tesla TSLA.O. Ford on Tuesday announced a price cut of up to 8% of its Mustang Mach-E electric vehicle, the second cut the automaker announced this year. Farley compared the price war in the EV market to Henry Ford's series of price cuts for the Model T starting in 1913.
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WASHINGTON, May 3 (Reuters) - Ford CEO Jim Farley said Wednesday price cuts in the electric vehicle market "is a worrying trend" after the U.S. automaker dropped prices for its Mustang Mach-E in response to a series of reductions by rival Tesla TSLA.O. Ford on Tuesday announced a price cut of up to 8% of its Mustang Mach-E electric vehicle, the second cut the automaker announced this year. Farley compared the price war in the EV market to Henry Ford's series of price cuts for the Model T starting in 1913.
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Ford on Tuesday announced a price cut of up to 8% of its Mustang Mach-E electric vehicle, the second cut the automaker announced this year. Ford will follow Tesla price cuts for models such as the Mustang Mach-E that competes head-on with Tesla's Model Y, he said. But not all Ford employees will make the transition to electric vehicles, he said.
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16065.0
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2023-05-03 00:00:00 UTC
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Time to Buy Apple Stock for More Upside as Earnings Approach?
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AAPL
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https://www.nasdaq.com/articles/time-to-buy-apple-stock-for-more-upside-as-earnings-approach
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nan
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nan
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Edging out some nice gains this year all eyes are on Apple (AAPL) this week with the company set to release its fiscal second-quarter earnings on Thursday, May 4.
Apple’s performance has been strong outperforming most of its big tech peers such as Alphabet (GOOGL), Amazon (AMZN), and Microsoft (MSFT) while easily topping the broader indexes.
With Apple stock now up +30% in 2023, investors are wondering if strong second-quarter results and positive guidance can help the computer and technology innovator divvy up more gains like it is historically known to do.
Image Source: Zacks Investment Research
Q2 Preview
Apple’s second-quarter earnings are expected to dip -5% at $1.44 per share compared to EPS of $1.52 in Q2 2022. Sales are forecasted to be down -4% from the prior year quarter at $93.32 billion.
Still, Apple’s stock tends to pop after beating earnings expectations and investors are certainly hoping the company can do so.
Image Source: Zacks Investment Research
Wall Street will be monitoring Apple's guidance to see if operating conditions are stabilizing going forward.
Last quarter, CEO Tim Cook stated a stronger dollar, production issues in China, and the broader challenges in the macroeconomic environment affected results. To that point, Apple most recently missed its first quarter top and bottom line expectations by a slight margin.
Image Source: Zacks Investment Research
Notably, Q1 sales missed top-line estimates by -3% and declined -5% YoY which was the largest quarterly drop since 2016 and the first decline in quarterly revenue since 2019.
With Apple expected to post another quartely decline in sales, Wall Street will be seeing if the company's outlook indicates a stop to the bleeding. With that being said, the sentiment toward tech stocks is very positive as inflation begins to ease and the ability to offer positive guidance could extend Apple’s rally.
Growth & Outlook
According to Zacks estimates, Apple’s sales are now forecasted to be down -1% this year but rebound and rise 7% in FY24 to $414.61 billion. More importantly, fiscal 2024 would be a 59% increase from 2019 pre-pandemic sales of $260.17 billion.
On the bottom line, earnings are projected to slightly decline by -1% in FY23 but jump 11% in FY24 at $6.66 per share. Fiscal 2024 would represent a very impressive 124% growth in EPS since the pandemic with 2019 earnings at $2.97 per share.
Image Source: Zacks Investment Research
Performance & Valuation
With its growth story seemingly intact, investors may be more intrigued by the strong performance in Apple stock this year. To that point, Apple’s stellar growth has led to the stock soaring +951% over the last decade.
This has crushed the S&P 500 and the Nasdaq, while also topping the performance of Alphabet, Amazon, and Microsoft stocks.
Image Source: Zacks Investment Research
Trading around $168 per share, Apple stock trades at 28X forward earnings which is nicely below its decade-long high of 38.6X but above the median of 16X.
Although this is above the industry average of 9.1X and the S&P 500’s 18.9X, Apple is the clear-cut leader in its space and Wall Street has historically been ok with paying a premium for AAPL shares due to the company’s growth potential.
Plus, when considering Apple’s growth rate its PEG ratio of 2.1 is slightly below the industry average and not too far above the S&P 500’s 1.72 although the optimum level is less than 1.0.
Image Source: Zacks Investment Research
Bottom Line
Apple stock currently lands a Zacks Rank #3 (Hold) going into its fiscal second quarter report. Looking at Apple’s historical performance and the expected growth next year there could still be a nice amount of upside from current levels.
However, more upside in Apple stock will largely depend on the company’s ability to offer positive or better-than-expected guidance and put an end to the decline in quarterly sales.
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Apple Inc. (AAPL) : Free Stock Analysis Report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : 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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Although this is above the industry average of 9.1X and the S&P 500’s 18.9X, Apple is the clear-cut leader in its space and Wall Street has historically been ok with paying a premium for AAPL shares due to the company’s growth potential. Edging out some nice gains this year all eyes are on Apple (AAPL) this week with the company set to release its fiscal second-quarter earnings on Thursday, May 4. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : 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 Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Edging out some nice gains this year all eyes are on Apple (AAPL) this week with the company set to release its fiscal second-quarter earnings on Thursday, May 4. Although this is above the industry average of 9.1X and the S&P 500’s 18.9X, Apple is the clear-cut leader in its space and Wall Street has historically been ok with paying a premium for AAPL shares due to the company’s growth potential.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here. Edging out some nice gains this year all eyes are on Apple (AAPL) this week with the company set to release its fiscal second-quarter earnings on Thursday, May 4. Although this is above the industry average of 9.1X and the S&P 500’s 18.9X, Apple is the clear-cut leader in its space and Wall Street has historically been ok with paying a premium for AAPL shares due to the company’s growth potential.
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Edging out some nice gains this year all eyes are on Apple (AAPL) this week with the company set to release its fiscal second-quarter earnings on Thursday, May 4. Although this is above the industry average of 9.1X and the S&P 500’s 18.9X, Apple is the clear-cut leader in its space and Wall Street has historically been ok with paying a premium for AAPL shares due to the company’s growth potential. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on Zacks.com click here.
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16066.0
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2023-05-03 00:00:00 UTC
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Nvidia short sellers lose $5 bln as shares rise more than 90% in 2023
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AAPL
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https://www.nasdaq.com/articles/nvidia-short-sellers-lose-%245-bln-as-shares-rise-more-than-90-in-2023
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nan
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nan
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Updates to add value of losses in headline and paragraph 1, further detail throughout
NEW YORK, May 3 (Reuters) - Nvidia Corp NVDA.O short sellers have lost $5.09 billion so far this year as the stock has jumped more than 90%, according to financial data firm S3 Partners.
The stock is the No. 1 losing equity short so far in 2023, followed by Apple AAPL.O and Tesla TSLA.O, the firm wrote Wednesday.
Apple short sellers have lost $4.47 billion so far in 2023, it said, while the stock has risen about 30% in that period. Tesla short sellers have lost $3.65 billion for the year to date, it added, as the stock has gained about 33%.
Short interest in Nvidia is down by 7.04 million shares, or 18%, for the year to date. Short interest is currently 1.32% of the float, the lowest level since October 2022, the firm wrote.
Nvidia shares were down 1.1% in midday trading Wednesday amid declines in chip makers after a disappointing outlook from Advanced Micro Devices Inc. AMD.O late Tuesday.
Investors who sell securities 'short' borrow shares and then sell them, expecting the stock to fall so they can buy the shares back at the lower price, return them to the lender and pocket the difference.
(Reporting by Caroline Valetkevitch; Editing by Lance Tupper and Jan Harvey)
((caroline.valetkevitch@thomsonreuters.comreuters.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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1 losing equity short so far in 2023, followed by Apple AAPL.O and Tesla TSLA.O, the firm wrote Wednesday. Updates to add value of losses in headline and paragraph 1, further detail throughout NEW YORK, May 3 (Reuters) - Nvidia Corp NVDA.O short sellers have lost $5.09 billion so far this year as the stock has jumped more than 90%, according to financial data firm S3 Partners. Tesla short sellers have lost $3.65 billion for the year to date, it added, as the stock has gained about 33%.
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1 losing equity short so far in 2023, followed by Apple AAPL.O and Tesla TSLA.O, the firm wrote Wednesday. Apple short sellers have lost $4.47 billion so far in 2023, it said, while the stock has risen about 30% in that period. Tesla short sellers have lost $3.65 billion for the year to date, it added, as the stock has gained about 33%.
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1 losing equity short so far in 2023, followed by Apple AAPL.O and Tesla TSLA.O, the firm wrote Wednesday. Updates to add value of losses in headline and paragraph 1, further detail throughout NEW YORK, May 3 (Reuters) - Nvidia Corp NVDA.O short sellers have lost $5.09 billion so far this year as the stock has jumped more than 90%, according to financial data firm S3 Partners. Apple short sellers have lost $4.47 billion so far in 2023, it said, while the stock has risen about 30% in that period.
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1 losing equity short so far in 2023, followed by Apple AAPL.O and Tesla TSLA.O, the firm wrote Wednesday. Apple short sellers have lost $4.47 billion so far in 2023, it said, while the stock has risen about 30% in that period. Tesla short sellers have lost $3.65 billion for the year to date, it added, as the stock has gained about 33%.
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16067.0
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2023-05-03 00:00:00 UTC
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Should Franklin U.S. Large Cap Multifactor Index ETF (FLQL) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-franklin-u.s.-large-cap-multifactor-index-etf-flql-be-on-your-investing-radar-3
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nan
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nan
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The Franklin U.S. Large Cap Multifactor Index ETF (FLQL) was launched on 04/26/2017, 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 Franklin Templeton Investments. It has amassed assets over $856.36 million, 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 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 2.02%.
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 30.50% of the portfolio. Healthcare and Consumer Discretionary round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO).
The top 10 holdings account for about 26.77% of total assets under management.
Performance and Risk
FLQL seeks to match the performance of the LibertyQ US Large Cap Equity Index before fees and expenses. The LibertyQ US Large Cap Equity Index seeks to achieve a lower level of risk and higher risk-adjusted performance than the Russell 1000 Index over the long term by applying a multi-factor selection process, which is designed to select equity securities from the Russell 1000 Index that have favorable exposure to four investment style factors quality, value, momentum and low volatility.
The ETF has gained about 5.78% so far this year and was up about 0.85% in the last one year (as of 05/03/2023). In the past 52-week period, it has traded between $36.61 and $43.32.
The ETF has a beta of 0.92 and standard deviation of 16.97% for the trailing three-year period. With about 212 holdings, it effectively diversifies company-specific risk.
Alternatives
Franklin U.S. Large Cap Multifactor Index 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, FLQL 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 $308.03 billion in assets, SPDR S&P 500 ETF has $375.68 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
Bottom-Line
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : 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 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO). Click to get this free report Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Broadcom Inc. (AVGO) : 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 $856.36 million, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.
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Click to get this free report Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Broadcom Inc. (AVGO) : 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 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO). The Franklin U.S. Large Cap Multifactor Index ETF (FLQL) was launched on 04/26/2017, 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 Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Broadcom Inc. (AVGO) : 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 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO). Alternatives Franklin U.S. Large Cap Multifactor Index 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 Franklin U.S. Large Cap Multifactor Index ETF (FLQL): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Broadcom Inc. (AVGO) : 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 7.39% of total assets, followed by Microsoft Corp (MSFT) and Broadcom Inc (AVGO). The Franklin U.S. Large Cap Multifactor Index ETF (FLQL) was launched on 04/26/2017, 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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16068.0
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2023-05-03 00:00:00 UTC
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Dow Movers: WBA, INTC
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AAPL
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https://www.nasdaq.com/articles/dow-movers%3A-wba-intc
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nan
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nan
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In early trading on Wednesday, shares of Intel topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.8%. Year to date, Intel registers a 15.7% gain.
And the worst performing Dow component thus far on the day is Walgreens Boots Alliance, trading down 3.5%. Walgreens Boots Alliance is lower by about 13.5% looking at the year to date performance.
Two other components making moves today are Nike, trading down 1.9%, and Apple, trading up 1.1% on the day.
VIDEO: Dow Movers: WBA, INTC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Wednesday, shares of Intel topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.8%. And the worst performing Dow component thus far on the day is Walgreens Boots Alliance, trading down 3.5%. Walgreens Boots Alliance is lower by about 13.5% looking at the year to date performance.
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In early trading on Wednesday, shares of Intel topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.8%. And the worst performing Dow component thus far on the day is Walgreens Boots Alliance, trading down 3.5%. Walgreens Boots Alliance is lower by about 13.5% looking at the year to date performance.
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In early trading on Wednesday, shares of Intel topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.8%. And the worst performing Dow component thus far on the day is Walgreens Boots Alliance, trading down 3.5%. Two other components making moves today are Nike, trading down 1.9%, and Apple, trading up 1.1% on the day.
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And the worst performing Dow component thus far on the day is Walgreens Boots Alliance, trading down 3.5%. Walgreens Boots Alliance is lower by about 13.5% looking at the year to date performance. VIDEO: Dow Movers: WBA, INTC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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16069.0
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2023-05-03 00:00:00 UTC
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Qualcomm sees dull third quarter on weak chip demand for smartphones
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AAPL
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https://www.nasdaq.com/articles/qualcomm-sees-dull-third-quarter-on-weak-chip-demand-for-smartphones-0
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nan
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nan
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Adds segment details, shares, industry background
May 3 (Reuters) - Qualcomm Inc QCOM.O forecast third-quarter revenue and profit below Wall Street estimates on Wednesday on worries it will take longer for the smartphone industry to exhaust the excess supply before fresh orders start flowing in.
Shares of the chip designer fell 4% in extended trading after it said its forecast was also a fallout of macroeconomic headwinds, weaker global handset units and channel inventory drawdown.
The company said a larger-than-normal decline in its chip revenue forecast from the prior quarter was mainly due "to the timing of purchases by a modem-only handset customer".
It forecast revenue for the segment to be between $6.9 billion and $7.5 billion.
The smartphones market was one of the first to be hit by declining demand after high inflation curbed consumer spending on discretionary goods like electronics, resulting in vendors slashing new chip orders.
Smartphone demand has remained weak despite promotions and price cuts. Global smartphone shipments fell 13% in the first quarter, according to research firm Canalys.
Easing COVID-19 curbs in China have also not significantly boosted demand, with Apple and its Android rivals seeing sales slide in the first quarter in the world's second largest economy.
A pervasive economic weakness has also forced device makers to limit their chip order levels. Rising competition from rivals especially Taiwan's MediaTek 2454.TW is an added pain.
The company forecast revenue between $8.1 billion and $8.9 billion. Analysts polled by Refinitiv expected revenue of $9.14 billion.
It expects adjusted earnings per share to be between $1.70 and $1.90, compared to analysts expectations of $2.16.
(Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee in Oakland, California; Editing by Arun Koyyur)
((Chavi.Mehta@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 of the chip designer fell 4% in extended trading after it said its forecast was also a fallout of macroeconomic headwinds, weaker global handset units and channel inventory drawdown. The smartphones market was one of the first to be hit by declining demand after high inflation curbed consumer spending on discretionary goods like electronics, resulting in vendors slashing new chip orders. Easing COVID-19 curbs in China have also not significantly boosted demand, with Apple and its Android rivals seeing sales slide in the first quarter in the world's second largest economy.
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The company said a larger-than-normal decline in its chip revenue forecast from the prior quarter was mainly due "to the timing of purchases by a modem-only handset customer". It forecast revenue for the segment to be between $6.9 billion and $7.5 billion. The company forecast revenue between $8.1 billion and $8.9 billion.
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Adds segment details, shares, industry background May 3 (Reuters) - Qualcomm Inc QCOM.O forecast third-quarter revenue and profit below Wall Street estimates on Wednesday on worries it will take longer for the smartphone industry to exhaust the excess supply before fresh orders start flowing in. The company said a larger-than-normal decline in its chip revenue forecast from the prior quarter was mainly due "to the timing of purchases by a modem-only handset customer". The company forecast revenue between $8.1 billion and $8.9 billion.
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It forecast revenue for the segment to be between $6.9 billion and $7.5 billion. The company forecast revenue between $8.1 billion and $8.9 billion. Analysts polled by Refinitiv expected revenue of $9.14 billion.
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16070.0
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2023-05-03 00:00:00 UTC
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Starbucks Stock Becomes a Value Play
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AAPL
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https://www.nasdaq.com/articles/starbucks-stock-becomes-a-value-play
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nan
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Valuing a business need not be so focused on theoretical methods and mathematical calculations; while they can be - and oftentimes are - the foundation to beginning to understand the intrinsic value, there are other qualitative factors. For example, Apple (NASDAQ: AAPL) is a great business and a perfect example of intangible brand value, as customers are relentlessly loyal to the Apple brand and regard it as social currency among peers.
Coca-Cola (NYSE: KO) reported an increase in the price of its products in line with inflation for the first quarter of 2023. Yet, unit sales volumes increased like clockwork, highlighting the ability a business moat allows for navigating challenging pricing markets. Starbucks (NASDAQ: SBUX) shows signs of having similar qualities. It sells a product that does not inherently need a secret formula yet has made its way to become social currency among society, as people get a certain "first sip feeling." At the same time, they look at the green medusa.
Navigating Inflation Successfully
In every industry, there are key performance indicators (KPIs) that analysts and investors consider to get a pulse on business health. In the retail world, where Starbucks falls, comparable store sales growth or decline is typically the first vital sign of where a business is headed.
While Starbucks reported 464 new store openings, including closures in North America and overseas markets, the company also says comparable sales growth of 11%. North America, which brings on board 73% of total revenue, saw 12% comparable sales growth in pace with inflation. International markets saw 7% comparable sales growth, including China's - a still untapped market - 3% growth.
What is important to note regarding the intangible brand value and social currency Starbucks owns is the 6% increase in the average U.S. ticket price. Increasing comparable sales in pace with inflation while at the same time incrementing the average ticket price speaks to the willingness of the regular Starbucks consumer to stick to the entrenched brand despite inflation dealing its hand.
Over the year, Starbucks chart shows the stock advanced by as much as 70% during a time when the S&P 500 only performed 15%. Beating the market comes from Starbucks being a great business led by capable management and just as much credit to the brand moat the company has developed over its years of servicing customers.
Untapped Potential: The Numbers
Most Starbucks stores are in the United States; however, the largest Starbucks reserve location was chosen to be built in Hong Kong, China. It is very interesting to note that the U.S. market counts 16,044 stores while China only has 6,243. This gap would translate to around 20,750 U.S. citizens per every one Starbucks location. In comparison, China would show a much larger ratio of 230,658 citizens per location.
The law of the real estate land dictates that these two ratios are bound to converge to find a medium. In China, Starbucks management is aware of the task they would need to complete to reduce this population ratio to locations, starting with replicating the same brand recognition and social currency status as the U.S. Starbucks increased its North American sites by 3% annually. In comparison, Chinese locations saw a 10% increase; indeed, increasing demand must justify opening more locations.
Closing down the two ratios between the leading economies would imply massive growth potential for the coffee brand, which may not be reflected in the stock price today.
All told, investors were very pleased to see a total 25% revenue increase for the year, with a 1.3% increase in operating margins to end the quarter at 14.3%. While management only chose to buy back one million shares from the open market, shareholders still saw a 25% increase in earnings per share, when Starbucks ended the quarter reporting $0.74 EPS.
Value Disconnect
Starbucks analyst ratings suggest that the stock is fairly valued in today's market, even assigning a small downside from here. The truth of the matter is that the high estimate target for the company stands at $136 per share, which would make a lot more sense considering that the consensus price is only considering single-digit revenue growth for the future. Single-digit revenue growth seems conservative when taking into account the potential long-term price increase ability the brand has in North America, as well as the untapped customer base seen in China.
Today's Starbucks dividend yields near 2%, while historically, the yield has hovered near 1.6%. A high dividend yield compared to historical ranges may imply the stock is undervalued as of today's prices, a thesis backed by management's decision to reinvest free cash flow into expansionary activities rather than beginning to return more cash to shareholders.
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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For example, Apple (NASDAQ: AAPL) is a great business and a perfect example of intangible brand value, as customers are relentlessly loyal to the Apple brand and regard it as social currency among peers. Beating the market comes from Starbucks being a great business led by capable management and just as much credit to the brand moat the company has developed over its years of servicing customers. The truth of the matter is that the high estimate target for the company stands at $136 per share, which would make a lot more sense considering that the consensus price is only considering single-digit revenue growth for the future.
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For example, Apple (NASDAQ: AAPL) is a great business and a perfect example of intangible brand value, as customers are relentlessly loyal to the Apple brand and regard it as social currency among peers. While Starbucks reported 464 new store openings, including closures in North America and overseas markets, the company also says comparable sales growth of 11%. International markets saw 7% comparable sales growth, including China's - a still untapped market - 3% growth.
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For example, Apple (NASDAQ: AAPL) is a great business and a perfect example of intangible brand value, as customers are relentlessly loyal to the Apple brand and regard it as social currency among peers. While Starbucks reported 464 new store openings, including closures in North America and overseas markets, the company also says comparable sales growth of 11%. Increasing comparable sales in pace with inflation while at the same time incrementing the average ticket price speaks to the willingness of the regular Starbucks consumer to stick to the entrenched brand despite inflation dealing its hand.
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For example, Apple (NASDAQ: AAPL) is a great business and a perfect example of intangible brand value, as customers are relentlessly loyal to the Apple brand and regard it as social currency among peers. What is important to note regarding the intangible brand value and social currency Starbucks owns is the 6% increase in the average U.S. ticket price. While management only chose to buy back one million shares from the open market, shareholders still saw a 25% increase in earnings per share, when Starbucks ended the quarter reporting $0.74 EPS.
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16071.0
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2023-05-03 00:00:00 UTC
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ANALYSIS-Banking mess, Fed among worries threatening calm stretch in US stocks
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AAPL
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https://www.nasdaq.com/articles/analysis-banking-mess-fed-among-worries-threatening-calm-stretch-in-us-stocks
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nan
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nan
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By Lewis Krauskopf, Saqib Iqbal Ahmed and Laura Matthews
NEW YORK, May 3 (Reuters) - The calm that has prevailed in the U.S. equity market may be starting to snap, as a range of worries bolster the case for investors looking to take profits on a rally that has seen the S&P 500 .SPX gain more than 7% this year.
For weeks, U.S. stocks have edged higher while measures of market volatility slid, despite concerns including uncertainty over the health of regional banks, a nearing deadline to raise the U.S. debt ceiling and worries over the impact of the Federal Reserve's aggressive monetary policy.
Though stocks remain near their 2023 highs, some investors now believe those factors will soon start taking a greater toll, limiting further upside. Front and center are concerns over regional banks, whose shares fell again on Tuesday despite a weekend auction that found a buyer for troubled First Republic Bank FRC.N.
The market may be "back in the soup on the banking crisis," said Chuck Carlson, chief executive officer at Horizon Investment Services. "I think that is what jolted the market out of its low volatility environment."
The S&P 500 fell 1.2% on Tuesday while the Cboe Volatility Index .VIX, known as Wall Street’s fear gauge, jumped after logging its lowest close since November 2021 on Friday.
Meanwhile, worries over a potential U.S. default have intensified after the Treasury warned on Monday that the government could run short of cash to pay its bills by June.
And while investors expect the Fed to signal a pause in its monetary policy tightening after raising rates once more on Wednesday, many worry the impact of accumulated rate increases will create more ructions throughout the economy.
With weakness in regional banks and worries over a U.S. default adding near-term pressure, "things could get a little choppy in the near term," said Seth Hickle, derivatives portfolio manager at Innovative Portfolios.
Hickle believes investors with shorter time horizons should lighten up on stocks and raise cash allocations. Carlson, of Horizon Investment Services, said his firm's portfolios have lower-than-typical levels of equity exposure, instead holding money market funds and short-term bonds.
"It’s hard for us to come up with a scenario where the market upside is much greater than 3% to 5% from current levels," Keith Lerner, co-chief investment officer at Truist Advisory Services, wrote in a note on Tuesday.
UNEASY CALM
The gyrations have disturbed a placid period in equities, which over the last week have been helped by better-than-expected earnings for several technology and growth stocks.
April included two weeks without a single daily move of at least 1% in either direction for the S&P 500, according to Willie Delwiche, investment strategist at Hi Mount Research. Over the prior 16 months, there had only been one such week for the benchmark stock index, Delwiche said.
Many investors don’t expect that calm to continue, as a battle over raising the $34 trillion U.S. debt ceiling looms.
Treasury Secretary Janet Yellen warned on Monday that the agency will be unlikely to meet all U.S. government payment obligations "potentially as early as June 1" without action by Congress.
Matthew Tym, head of equity derivatives trading at Cantor Fitzgerald, said some investors on Tuesday were taking options positions designed to protect their portfolios in June and July, a period where many believe equities could be vulnerable to debt-ceiling related volatility.
"People are terribly under-hedged," said Tym, who has been recommending portfolio options hedges in major exchange-traded funds.
EYES ON THE FED
Much depends on the message Fed Chairman Jerome Powell delivers at the end of Wednesday’s monetary policy meeting.
Futures markets positioning showed investors pricing in an 87% chance that the Fed will raise rates by 25 basis points on Wednesday, according to the CME FedWatch Tool, followed by cuts later in the year - though policymakers have projected borrowing costs remaining at around current levels until year-end.
If investors are right, markets may be in for more gains. In the six rate-hiking cycles since 1984, the S&P 500 has posted an average three-month return of 8% following the peak funds rate, Goldman Sachs strategists wrote.
However, the S&P 500 is already trading well above its valuation at the end of any cycle except the one ending in 2000, when the S&P 500 declined despite a Fed pause, the bank said. Goldman has a year-end target of 4,000 for the index, about 3% below Tuesday's close.
S&P 500 vs the VIXhttps://tmsnrt.rs/3HxqtQW
(Reporting by Lewis Krauskopf and Saqib Iqbal Ahmed and Laura Matthews, additional reporting by Gertrude Chavez-Dreyfuss; Editing by Ira Iosebashvili and Grant McCool)
((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net, Twitter: @LKrauskopf))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Lewis Krauskopf, Saqib Iqbal Ahmed and Laura Matthews NEW YORK, May 3 (Reuters) - The calm that has prevailed in the U.S. equity market may be starting to snap, as a range of worries bolster the case for investors looking to take profits on a rally that has seen the S&P 500 .SPX gain more than 7% this year. For weeks, U.S. stocks have edged higher while measures of market volatility slid, despite concerns including uncertainty over the health of regional banks, a nearing deadline to raise the U.S. debt ceiling and worries over the impact of the Federal Reserve's aggressive monetary policy. Futures markets positioning showed investors pricing in an 87% chance that the Fed will raise rates by 25 basis points on Wednesday, according to the CME FedWatch Tool, followed by cuts later in the year - though policymakers have projected borrowing costs remaining at around current levels until year-end.
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By Lewis Krauskopf, Saqib Iqbal Ahmed and Laura Matthews NEW YORK, May 3 (Reuters) - The calm that has prevailed in the U.S. equity market may be starting to snap, as a range of worries bolster the case for investors looking to take profits on a rally that has seen the S&P 500 .SPX gain more than 7% this year. And while investors expect the Fed to signal a pause in its monetary policy tightening after raising rates once more on Wednesday, many worry the impact of accumulated rate increases will create more ructions throughout the economy. S&P 500 vs the VIXhttps://tmsnrt.rs/3HxqtQW (Reporting by Lewis Krauskopf and Saqib Iqbal Ahmed and Laura Matthews, additional reporting by Gertrude Chavez-Dreyfuss; Editing by Ira Iosebashvili and Grant McCool) ((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net, Twitter: @LKrauskopf)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For weeks, U.S. stocks have edged higher while measures of market volatility slid, despite concerns including uncertainty over the health of regional banks, a nearing deadline to raise the U.S. debt ceiling and worries over the impact of the Federal Reserve's aggressive monetary policy. Matthew Tym, head of equity derivatives trading at Cantor Fitzgerald, said some investors on Tuesday were taking options positions designed to protect their portfolios in June and July, a period where many believe equities could be vulnerable to debt-ceiling related volatility. Futures markets positioning showed investors pricing in an 87% chance that the Fed will raise rates by 25 basis points on Wednesday, according to the CME FedWatch Tool, followed by cuts later in the year - though policymakers have projected borrowing costs remaining at around current levels until year-end.
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And while investors expect the Fed to signal a pause in its monetary policy tightening after raising rates once more on Wednesday, many worry the impact of accumulated rate increases will create more ructions throughout the economy. "It’s hard for us to come up with a scenario where the market upside is much greater than 3% to 5% from current levels," Keith Lerner, co-chief investment officer at Truist Advisory Services, wrote in a note on Tuesday. Goldman has a year-end target of 4,000 for the index, about 3% below Tuesday's close.
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16072.0
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2023-05-03 00:00:00 UTC
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The Best EV Stocks to Buy to Dethrone Tesla in 2023
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AAPL
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https://www.nasdaq.com/articles/the-best-ev-stocks-to-buy-to-dethrone-tesla-in-2023
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Editor’s note: “The Best EV Stocks to Buy to Dethrone Tesla in 2023” was previously published in February 2023. It has since been updated to include the most relevant information available.
Once upon a time, Tesla (TSLA) was the “golden goose” in the electric vehicle industry. But that time has come and gone. And now, it is time to look for EV stocks to buy to steal Tesla’s crown in the EV Race.
Well, the stock is now down 45% over the past year.
Shareholders are looking for someone to blame, and CEO Elon Musk has been in their crosshairs.
But that’s not why Tesla stock has crashed.
Sure, Musk’s antics over at Twitter aren’t helping things. But Tesla stock was crashing well before he ever took over the social media company. It made things worse – but it didn’t start the crash.
Instead, what sparked Tesla’s demise is something much more fundamental: market share erosion.
In the early 2010s, Tesla burst onto the scene as the first major pure EV maker. By the middle of the decade, the company commanded about 10% of the global EV market. Then, it had its big break in 2019 and 2020, when Tesla managed to successfully ramp production of its affordable Model 3 EV. During those two years, Tesla nearly doubled its global EV market share to over 18%.
But Tesla hasn’t had a major “hit” or new launch since then. And at the same time, new EV competition has entered the fold.
The result? Tesla’s market share has rapidly eroded in 2021 and ‘22. As of June 2022 – the latest data available, per BloombergNEF – Tesla’s global EV market share stood at just 13.7%, down almost five full percentage points from its peak.
That’s bad news for Tesla. But it’s good news for someone else. If Tesla is losing market share, that means someone else is gaining it. And they’re gaining market share in a rapidly growing pie.
Just look at how much the EV market has grown since Tesla’s market share peaked in mid-2020. Global unit sales have risen nearly 300% since then, from 2.4 million cars in June 2020 to 9.3 million cars in June 2022.
Said differently, Tesla’s struggles are someone else’s great fortune.
So, who is winning this space right now? We have three EV stocks to buy right now to dethrone Tesla as the king of the industry.
Interestingly, each of these EV stocks is like Tesla. But each is better at a certain wide-appeal characteristic that could allow it to beat the titan.
Top EV Stocks: LCID
The first EV stock we like as a potential “Tesla killer” is Lucid (LCID).
For all intents and purposes, Lucid is Tesla – just better.
Tesla built its seemingly untouchable empire on top of three critical competitive advantages: talent, technology, and brand. Now Lucid is beating Tesla at all three.
First, Tesla has actually lost a bunch of talent over the past few years – and most of it (the very talent that built the company) is now at Lucid.
Of course, it all starts with Lucid’s CEO, Peter Rawlinson, the former chief engineer of the Tesla Model S. Yes. This is the guy who was the engineering brain behind Tesla’s flagship car – the one that started it all.
Supporting him is an impressive team of former Tesla, Audi, Apple (AAPL), Samsung (SSNLF), Ford (F), Intel (INTC), and GM (GM) execs. We’re talking folks who helped start Tesla and turn it into what it is today, as well as some very influential people behind some of Apple’s hero products, like the iPhone.
This is the most impressive confluence of talent in the EV industry outside of Tesla. And it’s not even close. Lucid Motors’ management team stacks up equally to the titan. And considering the current trend of Tesla losing talent and Lucid Motors gaining it, the latter will have much more talent than Tesla by 2025.
And indeed, with this remarkable engineering and design team behind it, Lucid has developed, tested, and fine-tuned some of the industry’s most impressive technology.
To answer your question, yes, this technology beats Tesla’s EV tech on every key performance indicator.
We’re talking longer driving ranges, more horsepower, denser motors, faster acceleration, tighter control – the works.
Up until last year, those specs were all talk, no walk. But now these super-high-performance Lucid cars are out in the real world, and they’re living up to the hype. In fact, the Lucid Air was named the 2022 MotorTrend Car of the Year.
Source: Around the World Photos / Shutterstock.com
Sure, these cars also cost an arm and a leg. They start at around $90,000. But that brings us to the last point: branding.
By making and selling $40,000 Model 3s (which look a lot like Model Ss) to college kids, Tesla has eroded its brand equity. Meanwhile, Lucid is coming to market with a premium brand equity that’s strengthened by its exclusivity.
It can get away with selling $90,000-plus cars because it has the brand and tech to match that price point.
Not to mention the company’s relationship with Saudi Arabia. Last year, the country said it would buy between 50,000 and 100,000 Lucid vehicles over the next decade. That government’s Public Investment Fund already owns more than 60% of the company. And rumors have been swirling that it will look to acquire it fully over the coming years. With that kind of near-fool-proof backing, Lucid will continue to gain market share and eclipse others in the space.
Overall, then, we view Lucid as Tesla – just better. And that’s why LCID stock is one of our top EV stocks to buy at the current moment.
RIVN: TSLA, but Bigger
Next up, we have Rivian (RIVN). It’s another company that we feel is like Tesla, but it’s making bigger cars.
Rivian is an EV startup that is designing, manufacturing, and selling high-end electric SUVs and pick-up trucks. The SUV is a seven-seater with lots of space. The truck is a spacious truck with lots of power. They are fundamentally unique EVs in the marketplace today.
For five very specific reasons, we think Rivian could one day be one of the biggest EV makers in the world.
First, this is a leader in a strong demand niche of the burgeoning EV industry. We know that the trucking niche of the automotive market is very large with very durable and strong demand drivers. Presumably, as that portion of the auto market gets electrified, there will emerge an equally large electric truck market. Presently, there is no clear leader in that market. But Rivian has a promising early start with a fantastic first-to-market truck that has among the best specs in the industry. This electric trucking market will support multiple winners, and we’re confident Rivian will be one of them.
Second, the company has great brand equity, with strong technology and a fantastic first product. Rivian has established exceptional luxury branding and has developed leading EV battery and torque technology. These are two things that are very important for creating a great electric truck. Indeed, the R1T is probably the highest-performing electric pick-up truck in market today. And it should remain so for the foreseeable future.
Third, Rivian has strong early demand signals. Rivian has over 114,000 net preorders in the U.S. and Canada for the R1S and R1T, illustrating that consumers want these cars.
Fourth, Rivian has big support and partnerships. Rivian also has a very unique and promising partnership with Amazon wherein the latter will buy at least 100,000 electric delivery vehicles from Rivian. The extent of this partnership broadly implies that Amazon has basically picked Rivian as its “horse” in the EV race and, at scale, will convert its entire delivery fleet into Rivian cars. That represents a huge long-term opportunity.
Fifth, Rivian has a mammoth-sized balance sheet. The best thing about Rivian is that it has about $14 billion in cash on the balance sheet. And that grants the company an almost unfair advantage over peers. Rivian plans to use basically every penny of that cash balance over the next two to three years to develop market-leading tech, secure market-leading supply deals, and establish market-leading production capacity. When all is said and done, Rivian’s $14 billion should enable it to create an electric vehicle empire by 2025.
Overall, then, Rivian has the necessary ingredients to dominate Tesla in the eSUV and electric pick-up truck market. We really like RIVN stock for its long-term potential.
TSLA-Beating EV Stocks: FSR
Finally, we have Fisker (FSR) – a company we view as a cheaper version of Tesla.
Fisker is an EV startup that’s leveraging a platform-sharing business model. The company outsources all build components (except for design and software) to bring a high-performance electric vehicle to market at industry-low prices.
We love that strategy. We live in a world of hot inflation, high gas prices, and high interest rates. Indeed, in that world, expensive electric vehicles don’t sell as well as cheap ones do. And Fisker appears to be making the best cheap EV in the market.
That EV is Fisker’s Ocean SUV, which launched in November. It starts at $37,500, which is an absolutely unheard-of price for an eSUV model. It also features 250 to 350 miles of driving range, with a unique design, a new brand, and a great software package.
Economically speaking, the Ocean SUV gives consumers the most bang for their buck in the EV market. Unsurprisingly, reservations for this car already sit at an impressive 62,000 orders, and that number is growing quickly. That’s impressive momentum and easily puts Fisker on track to hit its ~42,000-unit delivery target for 2023.
We fully expect the Fisker Ocean SUV to be one of the best-selling electric cars in 2023.
More importantly, though, Fisker is about much more than just the Ocean SUV.
The Ocean SUV projects to be such a “big hit” because of its ability to optimally blend quality with affordability. This is a byproduct of competitive advantages Fisker has created through its platform-sharing model.
Plus, the company just announced that it wants to make swappable batteries happen by Q1 2024. The EV maker has partnered with Ample, a company working on battery swapping and energy management tech, to bring Fisker Oceans with swappable batteries to market. Ample’s tech enables EV batteries to be swapped at one of their stations in just a few minutes. This also enables Fisker owners to rapidly benefit from advancements in battery technology since they’ll be able to swap for better batteries as they become available. NIO is a pioneer of battery-swapping technology in China, and the big upside here is that you can reduce the selling prices of EVs by removing the cost of battery ownership. Fisker is clearly making an aggressive play to be the lowest-cost producer of EVs in America, and we think that’s a winning competitive strategy.
To that end, we don’t see Fisker as a one-hit-wonder with the Ocean SUV. We believe the company’s platform-sharing business model enables it to repeatedly launch popular EVs at the intersection of quality and affordability.
Management is targeting ~225,000 deliveries of four different EV models by 2025, with an average sales price of over $50,000. We think that’s entirely doable. If so, Fisker will net revenues of about $11 billion by 2025. We believe Fisker can achieve similar operating margins as Tesla, about 20%, which would put net profits at just shy of $2 billion (assuming a 20% tax rate).
A 20X multiple on that implies a potential future valuation here of $40 billion. The company is worth just $2.2 billion today.
That’s tremendous upside. And the risks are offset by an $824 million cash pile on the balance sheet that should more than absorb all cash burn next year (projected at $750 million) and bridge the gap to profitability in late 2023.
It’s clear to see why FSR stock is one of our favorite EV stocks to buy right now.
The Final Word on the Best EV Stocks
Tesla’s first-mover advantage in the big electric vehicle space is over.
Once upon a time, the only “cool” high-performance EV you could buy was one of its cars. That’s no longer true today. You have the Lucid Air, the Rivian R1T and R1S, and the Fisker Ocean, just to name a few.
That’s why Tesla’s global EV market share has eroded five points over the past two years. And that’s before Lucid, Rivian, and Fisker – its three biggest competitors – have hit mass production.
Once they do so between 2023 and 2025, Tesla’s global EV market share will dwindle below 10%… And other EV stocks will have the opportunity to soar as they gobble up Tesla’s market share.
Lucid, Rivian, and Fisker are three such EV stocks.
But there will be others – smaller, lesser-known EV stocks that score even bigger returns than Lucid, Rivian, and Fisker.
Learn more about those stocks to get ahead of the curve.
On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
The post The Best EV Stocks to Buy to Dethrone Tesla in 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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Supporting him is an impressive team of former Tesla, Audi, Apple (AAPL), Samsung (SSNLF), Ford (F), Intel (INTC), and GM (GM) execs. As of June 2022 – the latest data available, per BloombergNEF – Tesla’s global EV market share stood at just 13.7%, down almost five full percentage points from its peak. NIO is a pioneer of battery-swapping technology in China, and the big upside here is that you can reduce the selling prices of EVs by removing the cost of battery ownership.
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Supporting him is an impressive team of former Tesla, Audi, Apple (AAPL), Samsung (SSNLF), Ford (F), Intel (INTC), and GM (GM) execs. Rivian plans to use basically every penny of that cash balance over the next two to three years to develop market-leading tech, secure market-leading supply deals, and establish market-leading production capacity. The EV maker has partnered with Ample, a company working on battery swapping and energy management tech, to bring Fisker Oceans with swappable batteries to market.
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Supporting him is an impressive team of former Tesla, Audi, Apple (AAPL), Samsung (SSNLF), Ford (F), Intel (INTC), and GM (GM) execs. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Editor’s note: “The Best EV Stocks to Buy to Dethrone Tesla in 2023” was previously published in February 2023. Top EV Stocks: LCID The first EV stock we like as a potential “Tesla killer” is Lucid (LCID).
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Supporting him is an impressive team of former Tesla, Audi, Apple (AAPL), Samsung (SSNLF), Ford (F), Intel (INTC), and GM (GM) execs. Rivian also has a very unique and promising partnership with Amazon wherein the latter will buy at least 100,000 electric delivery vehicles from Rivian. Once they do so between 2023 and 2025, Tesla’s global EV market share will dwindle below 10%… And other EV stocks will have the opportunity to soar as they gobble up Tesla’s market share.
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16073.0
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2023-05-03 00:00:00 UTC
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The Zacks Analyst Blog Highlights Apple, Microsoft, Meta Platforms, Diageo and 3M Company
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AAPL
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https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-apple-microsoft-meta-platforms-diageo-and-3m-company
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nan
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For Immediate Release
Chicago, IL – May 3, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple Inc. AAPL, Microsoft Corp. MSFT, Meta Platforms, Inc. META, Diageo plc DEO and 3M Company MMM.
Here are highlights from Tuesday’s Analyst Blog:
Q1 Earnings Season Scorecard and Featured Research on Apple, Microsoft and Meta Platforms
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features a real-time update on the ongoing Q1 earnings season in addition to new research reports on 16 major stocks, including Apple Inc., Microsoft Corp. and Meta Platforms, Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Q1 Earnings Season Scorecard
Including all of this morning's releases, we now have Q1 results from 310 S&P 500 members or 62% of the index's total membership.
Total earnings for these companies are down -2.2% from the same period last year on +3.9% higher revenues, with 78.1% beating EPS estimates and 73.9% beating revenue estimates.
The proportion of these 310 index members beating both EPS and revenue estimates is 61.6%. This 61.6% 'blended' beats percentage compares to 57.4% in 2022 Q4, 54.5% in 2022 Q3, 57.1% in Q2, 63.9% in Q1 and the 5-year average of 59.4%.
Looking at 2023 Q1 as a whole, combining the actuals that have come out with estimates for the still-to-come companies, total S&P 500 earnings are now expected to be down -5.4% on +3.1% higher revenues.
Earnings for the current period (2023 Q2) are currently expected to be down -7.4% from the same period last year on -0.6% lower revenues. This is only modestly down from -7.2% and -0.5% expected at the end of March 2023.
For more details about the Q1 earnings season and evolving expectations for the coming periods, please check out our weekly Earnings Trends report here >>> 2023 Earnings: Good Enough, But Not Great
Featured Analyst Reports
Apple shares have been standout performers this year, with the stock gaining +29.4% vs. +20.3% gain for the Zacks Tech sector and +9% gain for the S&P 500 index. Ahead of the company's March-quarter earnings release after the market's close on Thursday (May 4th), the Zacks analyst sees Apple's revenues to grow year over year. Growing services subscriber base and a strong liquidity position are key catalysts for Apple’s prospects.
However, Apple expects the March quarter’s year-over-year revenue growth to be similar to that of the December quarter due to unfavorable forex. For iPhone, Apple expects the March quarter’s year-over-year revenue growth to accelerate relative to the December quarter’s year-over-year revenue growth.
For Mac and iPad, revenues are expected to decline in double digits on a year-over-year basis due to challenging comparison and macroeconomic headwinds. Services revenue growth is expected to be negatively impacted by challenging macroeconomic conditions, as well as weakness in digital advertising and gaming.
(You can read the full research report on Apple here >>>)
Shares of Microsoft have outperformed the Zacks Computer - Software industry over the past six months (+43.4% vs. +37.9%). The company’s third-quarter fiscal 2023 results were driven by improvement in Intelligent Cloud and Productivity and Business Processes, offset in part by a decline in More Personal Computing. Intelligent Cloud revenues increased in the quarter, driven by Azure and other cloud services. Productivity and Business
Processes revenues increased due to the Office 365 Commercial. Continued momentum in the small and medium businesses and frontline worker offerings, as well as gain in revenue per user drove top-line growth. More Personal Computing revenues decreased due to Windows and Devices. Steady performance in Talent Solutions aided LinkedIn revenues.
However, declining gaming revenues and videogame sales were headwinds. Increasing spend on Azure enhancements amid stiff competition in the cloud space from Amazon is likely to dent margins.
(You can read the full research report on Microsoft here >>>)
Shares of Meta Platforms have outperformed the Zacks Internet - Software industry over the past year (+14.7% vs. -14.0%). The company is benefiting from steady user growth across all regions, particularly Asia Pacific. Increased engagement for its products like Instagram, WhatsApp, Messenger, and Facebook has been a major growth driver. Its restructuring plan is expected to reduce expenses driving profitability.
However, challenging macroeconomic conditions are negatively impacting Meta’s advertising revenues. Unfavorable forex, targeting and measurement headwinds due to Apple’s iOS changes are headwinds. Its second-quarter guidance reflects macroeconomic and forex concerns.
The company continues to expect Reality Labs operating losses to increase year-over-year in 2023. Ongoing regulatory developments including the upcoming IDPC decision on transatlantic data transfers is expected to weigh down its prospects.
(You can read the full research report on Meta Platforms here >>>)
Other noteworthy reports we are featuring today include Diageo plc and 3M Company.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Apple Inc. (AAPL) : Free Stock Analysis Report
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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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Stocks recently featured in the blog include: Apple Inc. AAPL, Microsoft Corp. MSFT, Meta Platforms, Inc. META, Diageo plc DEO and 3M Company MMM. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Diageo plc (DEO) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. You can see all of today’s research reports here >>> Q1 Earnings Season Scorecard Including all of this morning's releases, we now have Q1 results from 310 S&P 500 members or 62% of the index's total membership.
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Stocks recently featured in the blog include: Apple Inc. AAPL, Microsoft Corp. MSFT, Meta Platforms, Inc. META, Diageo plc DEO and 3M Company MMM. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Diageo plc (DEO) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. Here are highlights from Tuesday’s Analyst Blog: Q1 Earnings Season Scorecard and Featured Research on Apple, Microsoft and Meta Platforms The Zacks Research Daily presents the best research output of our analyst team.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Diageo plc (DEO) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks recently featured in the blog include: Apple Inc. AAPL, Microsoft Corp. MSFT, Meta Platforms, Inc. META, Diageo plc DEO and 3M Company MMM. Today's Research Daily features a real-time update on the ongoing Q1 earnings season in addition to new research reports on 16 major stocks, including Apple Inc., Microsoft Corp. and Meta Platforms, Inc.
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Stocks recently featured in the blog include: Apple Inc. AAPL, Microsoft Corp. MSFT, Meta Platforms, Inc. META, Diageo plc DEO and 3M Company MMM. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Diageo plc (DEO) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. Today's Research Daily features a real-time update on the ongoing Q1 earnings season in addition to new research reports on 16 major stocks, including Apple Inc., Microsoft Corp. and Meta Platforms, Inc.
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2023-05-03 00:00:00 UTC
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PREVIEW-Apple results could mark weak finish to Big Tech earnings
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https://www.nasdaq.com/articles/preview-apple-results-could-mark-weak-finish-to-big-tech-earnings
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By Yuvraj Malik and Aditya Soni
May 3 (Reuters) - Apple Inc AAPL.O will likely report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business.
The results on Thursday from the world's most valuable company will follow better-than-expected earnings from U.S. technology peers, which had raised hopes that the worst may be over for a sector that has laid off tens of thousands this year.
Apple, an industry outlier with no mass layoffs so far, is set to post its first ever revenue declines across product lines, even as iPhone demand and production recovered in China after pandemic-driven disruptions last year.
"Apple is seeing moderate headwinds in its hardware businesses as iPhones face modest contraction in premium device demand and the iPad and Mac businesses could be weighed down by consumer and enterprise trends," analysts at Cowen and Co said.
Hardware sales are set to decline over 7% to $71.93 billion in the second quarter, according to 23 analysts polled by Visible Alpha.
Mac sales, which account for nearly a tenth of Apple's revenue, likely fell by a quarter, while revenue from flagship iPhone is estimated to have declined by over 3%.
Global PC shipments slumped by nearly a third between January and March, according to data from research firm IDC, led by an over 40% drop in those sold by Apple. The global smartphone market, meanwhile, shrank 13% for a fifth straight quarter of decline.
CHINA CHEER
Apple investors, however, would be encouraged by a recovery in China, the company's third-largest market.
"The reopening of China, both from the supply chain and the consumer demand standpoint, works in Apple's favor," said Tom Forte of D.A. Davidson, who expects iPhone sales there to rise.
A near 1% pullback in the dollar .DXY during the quarter is also a bright spot in what is typically a weak period following the holiday shopping season, analysts said.
Revenue in its services business, a key growth engine for Apple and home to its App Store and video streaming service, likely rose about 6%, according to Visible Alpha. That would mark its second lowest growth rate since at least the first quarter of fiscal 2017.
"For Apple, it is much more about a user growth story than a unit growth story," said KeyBanc Capital Markets analyst Brandon Nispel, who believes efforts to grow market share in developing economies such as India and Brazil will be crucial.
He expects Apple to have added 30 million users to its active installed user base - the number of active Apple devices in the world. That figure stood at 2 billion as of end December.
The company is ramping up its manufacturing and store presence in India as it looks to diversify its supply chain and gain consumers. The market could contribute $20 billion to annual revenue by 2025, brokerage Wedbush estimates.
Apple earnings previewhttps://tmsnrt.rs/3NjHyBY
(Reporting by Yuvraj Malik and Aditya Soni in Bengaluru; Editing by Sriraj Kalluvila)
((yuvraj.malik@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Yuvraj Malik and Aditya Soni May 3 (Reuters) - Apple Inc AAPL.O will likely report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business. The results on Thursday from the world's most valuable company will follow better-than-expected earnings from U.S. technology peers, which had raised hopes that the worst may be over for a sector that has laid off tens of thousands this year. Global PC shipments slumped by nearly a third between January and March, according to data from research firm IDC, led by an over 40% drop in those sold by Apple.
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By Yuvraj Malik and Aditya Soni May 3 (Reuters) - Apple Inc AAPL.O will likely report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business. Hardware sales are set to decline over 7% to $71.93 billion in the second quarter, according to 23 analysts polled by Visible Alpha. Apple earnings previewhttps://tmsnrt.rs/3NjHyBY (Reporting by Yuvraj Malik and Aditya Soni in Bengaluru; Editing by Sriraj Kalluvila) ((yuvraj.malik@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Yuvraj Malik and Aditya Soni May 3 (Reuters) - Apple Inc AAPL.O will likely report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business. Mac sales, which account for nearly a tenth of Apple's revenue, likely fell by a quarter, while revenue from flagship iPhone is estimated to have declined by over 3%. "For Apple, it is much more about a user growth story than a unit growth story," said KeyBanc Capital Markets analyst Brandon Nispel, who believes efforts to grow market share in developing economies such as India and Brazil will be crucial.
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By Yuvraj Malik and Aditya Soni May 3 (Reuters) - Apple Inc AAPL.O will likely report a more than 4% drop in revenue, its second straight quarterly decline, weighed down by consumers shunning non-essential purchases such as iPhones and Mac computers and slowing growth at its services business. Hardware sales are set to decline over 7% to $71.93 billion in the second quarter, according to 23 analysts polled by Visible Alpha. Mac sales, which account for nearly a tenth of Apple's revenue, likely fell by a quarter, while revenue from flagship iPhone is estimated to have declined by over 3%.
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2023-05-03 00:00:00 UTC
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Should John Hancock Multifactor Large Cap ETF (JHML) Be on Your Investing Radar?
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https://www.nasdaq.com/articles/should-john-hancock-multifactor-large-cap-etf-jhml-be-on-your-investing-radar-7
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Looking for broad exposure to the Large Cap Blend segment of the US equity market? You should consider the John Hancock Multifactor Large Cap ETF (JHML), a passively managed exchange traded fund launched on 09/28/2015.
The fund is sponsored by John Hancock. It has amassed assets over $711.80 million, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Large cap companies usually 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
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 0.29%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.39%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Information Technology sector--about 21.10% of the portfolio. Financials and Healthcare round out the top three.
Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 3.46% of total assets, followed by Apple Inc (AAPL) and Amazon.com Inc (AMZN).
The top 10 holdings account for about 15.01% of total assets under management.
Performance and Risk
JHML seeks to match the performance of the John Hancock Dimensional Large Cap Index before fees and expenses. The John Hancock Dimensional Large Cap Index comprises of a subset of securities in the U.S. Universe issued by companies whose market capitalizations are larger than that of the 801st largest U.S. company.
The ETF has added roughly 4.73% so far this year and is down about -0.31% in the last one year (as of 05/03/2023). In the past 52-week period, it has traded between $45.43 and $54.25.
The ETF has a beta of 1.01 and standard deviation of 18.58% for the trailing three-year period, making it a medium risk choice in the space. With about 771 holdings, it effectively diversifies company-specific risk.
Alternatives
John Hancock Multifactor 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, JHML 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 $308.03 billion in assets, SPDR S&P 500 ETF has $375.68 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
Bottom-Line
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.
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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John Hancock Multifactor Large Cap ETF (JHML): ETF Research Reports
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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, Microsoft Corp (MSFT) accounts for about 3.46% of total assets, followed by Apple Inc (AAPL) and Amazon.com Inc (AMZN). Click to get this free report John Hancock Multifactor Large Cap ETF (JHML): 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 John Hancock Multifactor Large Cap ETF (JHML), a passively managed exchange traded fund launched on 09/28/2015.
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Click to get this free report John Hancock Multifactor Large Cap ETF (JHML): 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, Microsoft Corp (MSFT) accounts for about 3.46% of total assets, followed by Apple Inc (AAPL) and Amazon.com Inc (AMZN). You should consider the John Hancock Multifactor Large Cap ETF (JHML), a passively managed exchange traded fund launched on 09/28/2015.
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Click to get this free report John Hancock Multifactor Large Cap ETF (JHML): 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, Microsoft Corp (MSFT) accounts for about 3.46% of total assets, followed by Apple Inc (AAPL) and Amazon.com Inc (AMZN). Alternatives John Hancock Multifactor 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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Click to get this free report John Hancock Multifactor Large Cap ETF (JHML): 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, Microsoft Corp (MSFT) accounts for about 3.46% of total assets, followed by Apple Inc (AAPL) and Amazon.com Inc (AMZN). You should consider the John Hancock Multifactor Large Cap ETF (JHML), a passively managed exchange traded fund launched on 09/28/2015.
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16076.0
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2023-05-03 00:00:00 UTC
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These 3 Growth Stocks Were Star Performers in April, and They're Still Buys
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https://www.nasdaq.com/articles/these-3-growth-stocks-were-star-performers-in-april-and-theyre-still-buys
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We're in the midst of the period when companies issue their financial reports for the quarter that ended March 31, and Wall Street pros and regular investors alike are keeping a close eye on the results. With inflation falling but still elevated, and interest rates higher than they've been in years, this earnings season offers an important look into the health of the broader U.S. economy.
So far, there have been some standout performers in the technology sector. Here are three companies that delivered better-than-expected results, and subsequently saw their stock prices pop in April.
1. Microsoft: It's all about artificial intelligence
Microsoft (NASDAQ: MSFT) has come a long way since the days when the Windows operating system (launched in 1985) was its only blockbuster product. The company has grown to dominate other industries like gaming, cloud computing, and now, artificial intelligence (AI). Investors were particularly pleased with Microsoft's progress in AI during Q1, as it has been weaving the technology through the entire business.
The company's multibillion-dollar investment into OpenAI is behind much of its recent success. OpenAI developed the online chatbot ChatGPT, which has the ability to answer complex questions and even write computer code in response to fairly straightforward conversational prompts. Microsoft has integrated ChatGPT into its Bing search engine, and within two months, mobile installs of the platform had grown fourfold, with 100 million people using it every day.
Plus, Microsoft has integrated OpenAI's technology into its Azure cloud platform, placing advanced AI tools at the fingertips of businesses everywhere. The OpenAI-Azure partnership had 2,500 customers by the end of Q1, up tenfold from just three months prior. Although its growth is slowing, Azure overall was the fastest-growing piece of Microsoft's business, with revenue up 27% year over year.
Financially speaking, Microsoft beat its own revenue forecast in Q1 and crushed Wall Street's consensus expectation for earnings of $2.24 per share, delivering $2.45 per share instead. Microsoft stock soared by 7.5% the day after it reported the results, a session that accounted for most of its 9.5% rise in April.
2. Spotify: User growth was music to investors' ears
Spotify (NYSE: SPOT) is the world's largest music-streaming and podcast platform, and it's growing impressively even in this tough economic period. It operates in an industry where product differentiation is key, because the music content across Spotify, Apple Music, and Amazon Music is effectively the same.
Spotify recently revamped its home screen and incorporated video, keeping pace with many of the popular social media platforms its customers actively use. Plus, the company has invested in artificial intelligence to improve its search feature, helping users find the content they're looking for with fewer inputs. Personally, I often use both Spotify and Apple Music, and Spotify's user experience is far more appealing thanks to these changes, whereas Apple focuses more heavily on audio quality as its point of difference.
Spotify told investors to expect 11 million net new members in Q1, but it ended up attracting an all-time high 26 million, taking its total to 515 million. The company's revenue topped $3 billion in the quarter, with 14% year-over-year growth coming from paid subscriptions and 17% growth coming from advertising from customers using the free ad-supported version. Those results were impressive, given the economic climate has hurt both consumer discretionary spending and businesses' marketing budgets.
Spotify stock gained 2.9% in April thanks in part to its Q1 results. But that took its year-to-date gain to a spectacular 63%, so investors certainly appear pleased with the company's direction right now.
3. Meta Platforms: Instagram bounces back thanks to artificial intelligence
Meta Platforms (NASDAQ: META) is the parent company of Facebook, Instagram, and WhatsApp. It has faced serious pressure from investors over the last 18 months, many of whom expressed concerns about its shrinking revenues and increased spending, especially on unproven projects like virtual reality and the metaverse.
At one point, Meta Platforms stock had suffered a 77% peak-to-trough collapse. CEO Mark Zuckerberg acknowledged the company's struggles near the end of 2022, and has since committed to cutting 21,000 jobs and managing costs more carefully. He's calling 2023 a year of efficiency, and in the first quarter, investors saw substantial improvements.
First, Meta's revenue grew on a year-over-year basis for the first time since Q1 2022, and its Reality Labs (virtual reality) losses shrank compared to the prior quarter. Second, the company made progress on its investments in AI-powered content curation for its Reels feature on Instagram and Facebook. This was key to fending off the competitive threat from ByteDance's TikTok, and the results were clear: On average, Instagram users spent 24% more time on the platform.
That was likely a key reason Meta's revenue grew in Q1, as more engagement equals more advertising dollars. In any case, investors were highly impressed and sent Meta stock soaring. It ended April up by an impressive 17%, and it probably isn't done heading higher this year.
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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. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon.com, Apple, Meta Platforms, Microsoft, and Spotify Technology. 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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We're in the midst of the period when companies issue their financial reports for the quarter that ended March 31, and Wall Street pros and regular investors alike are keeping a close eye on the results. OpenAI developed the online chatbot ChatGPT, which has the ability to answer complex questions and even write computer code in response to fairly straightforward conversational prompts. It has faced serious pressure from investors over the last 18 months, many of whom expressed concerns about its shrinking revenues and increased spending, especially on unproven projects like virtual reality and the metaverse.
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It operates in an industry where product differentiation is key, because the music content across Spotify, Apple Music, and Amazon Music is effectively the same. Meta Platforms: Instagram bounces back thanks to artificial intelligence Meta Platforms (NASDAQ: META) is the parent company of Facebook, Instagram, and WhatsApp. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors.
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Meta Platforms: Instagram bounces back thanks to artificial intelligence Meta Platforms (NASDAQ: META) is the parent company of Facebook, Instagram, and WhatsApp. See the 10 stocks *Stock Advisor returns as of April 24, 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, Meta Platforms, Microsoft, and Spotify Technology.
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Meta Platforms: Instagram bounces back thanks to artificial intelligence Meta Platforms (NASDAQ: META) is the parent company of Facebook, Instagram, and WhatsApp. In any case, investors were highly impressed and sent Meta stock soaring. The Motley Fool has positions in and recommends Amazon.com, Apple, Meta Platforms, Microsoft, and Spotify Technology.
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2023-05-03 00:00:00 UTC
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Will Shiba Inu Reach $1? I'll Show You 1 Way It Could
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https://www.nasdaq.com/articles/will-shiba-inu-reach-%241-ill-show-you-1-way-it-could
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Shiba Inu became the darling of the cryptocurrency industry in 2021 when it generated a gain of 43,800,000%, which could've made millionaires out of investors for an outlay of just $3, assuming their timing was perfect.
But risk appetite evaporated from the financial markets in 2022, which sent speculative assets like Shiba Inu plunging, and the token remains 89% below its all-time high. Certain realities about its lack of mainstream adoption are also setting in, which is hindering any recovery attempts.
But sentiment surrounding the broader crypto industry has improved in 2023, so could Shiba Inu stage another historic run? There might actually be a way the token could soar to $1, but it won't have the effect most investors think it will. Here are the details.
Image source: Getty Images.
The crypto industry is coming off its worst year ever
Last year was one to forget for cryptocurrency investors. A series of high-profile collapses across the industry reached a crescendo in November when global brokerage firm FTX fell into bankruptcy owing customers an estimated $3 billion. Regulators are still attempting to track down missing funds, and the saga has caused many investors to shun the crypto industry.
According to a survey conducted by business news network CNBC at the end of last year, just 8% of Americans have a positive view on cryptocurrencies.
That environment is less than ideal for speculative tokens like Shiba Inu, which are seldom used in the real world for transactions. That's one of the reasons it's struggling to climb back toward its all-time highs -- just 746 businesses worldwide accept the token as payment for goods and services, which means consumers have little reason to own it. Without adoption, sustaining value over the long term is an uphill battle.
The Shiba Inu community is trying to create new use cases for the token, including with a metaverse (virtual world), and a Layer-2 blockchain solution called Shibarium, which is designed to reduce the cost and friction when transacting. But so far, nothing has really moved the needle.
Here's one way Shiba Inu could reach $1
Shiba Inu has a supply issue. There are 589.3 trillion tokens in circulation, which is why its current price of $0.00001 features so many decimal places. The math is simple: If Shiba Inu rose to $1, it would have a total market capitalization of $589.3 trillion, making it the most valuable asset in the world by a wide margin.
For a little perspective, Apple is currently the largest company on the planet and it's worth $2.6 trillion as of this writing.
That's why the Shiba Inu community has been working to reduce that enormous supply figure by burning tokens, which removes them from circulation forever. Investors can participate by sending their tokens to a dead wallet, or by using services that commit a portion of their profits to the cause. They include streaming a certain music playlist and YouTube channel, using the Shiba Search internet search engine, and buying coffee from the Shiba Coffee company.
Theoretically, as tokens are burned, Shiba Inu's price will increase in equal proportion. For Shiba Inu to rise to $1 from here purely through the burn mechanism, the community would have to eliminate 99.9998% of the tokens currently in circulation, bringing the total down from 589.3 trillion to just 6 billion.
Here's the first problem: The community burned just 3.3 billion tokens in the past month. That's a burn rate of 39.6 billion per year, meaning it would take a whopping 14,881 years to burn supply down to 6 billion.
But here's the second, and much bigger problem. In the end, there would simply be 6 billion tokens in supply trading at $1 per token, placing Shiba Inu's market capitalization at $6 billion -- exactly where it is today. No investor would see an actual increase in the value of their holdings. Therefore, even if humans found a way to live for thousands of years, it would be an exercise in futility.
10 stocks we like better than Shiba Inu
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Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A series of high-profile collapses across the industry reached a crescendo in November when global brokerage firm FTX fell into bankruptcy owing customers an estimated $3 billion. The Shiba Inu community is trying to create new use cases for the token, including with a metaverse (virtual world), and a Layer-2 blockchain solution called Shibarium, which is designed to reduce the cost and friction when transacting. For Shiba Inu to rise to $1 from here purely through the burn mechanism, the community would have to eliminate 99.9998% of the tokens currently in circulation, bringing the total down from 589.3 trillion to just 6 billion.
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They include streaming a certain music playlist and YouTube channel, using the Shiba Search internet search engine, and buying coffee from the Shiba Coffee company. Theoretically, as tokens are burned, Shiba Inu's price will increase in equal proportion. In the end, there would simply be 6 billion tokens in supply trading at $1 per token, placing Shiba Inu's market capitalization at $6 billion -- exactly where it is today.
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Here's one way Shiba Inu could reach $1 Shiba Inu has a supply issue. For Shiba Inu to rise to $1 from here purely through the burn mechanism, the community would have to eliminate 99.9998% of the tokens currently in circulation, bringing the total down from 589.3 trillion to just 6 billion. In the end, there would simply be 6 billion tokens in supply trading at $1 per token, placing Shiba Inu's market capitalization at $6 billion -- exactly where it is today.
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The crypto industry is coming off its worst year ever Last year was one to forget for cryptocurrency investors. Theoretically, as tokens are burned, Shiba Inu's price will increase in equal proportion. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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2023-05-03 00:00:00 UTC
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Is iShares U.S. Equity Factor ETF (LRGF) a Strong ETF Right Now?
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https://www.nasdaq.com/articles/is-ishares-u.s.-equity-factor-etf-lrgf-a-strong-etf-right-now-4
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Designed to provide broad exposure to the Style Box - All Cap Value category of the market, the iShares U.S. Equity Factor ETF (LRGF) is a smart beta exchange traded fund launched on 04/28/2015.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
The fund is sponsored by Blackrock. It has amassed assets over $1.23 billion, making it one of the largest ETFs in the Style Box - All Cap Value. Before fees and expenses, this particular fund seeks to match the performance of the MSCI USA Diversified Multiple-Factor Index.
The STOXX U.S. Equity Factor Index composes of U.S. large and mid-capitalization stocks that have favourable exposure to target style factors subject to constraints.
Cost & Other Expenses
When considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.
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 1.72%.
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.
LRGF's heaviest allocation is in the Information Technology sector, which is about 27.60% of the portfolio. Its Financials and Healthcare round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.63% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN).
Its top 10 holdings account for approximately 25.07% of LRGF's total assets under management.
Performance and Risk
So far this year, LRGF has added about 6.18%, and is up about 0.94% in the last one year (as of 05/03/2023). During this past 52-week period, the fund has traded between $36.22 and $43.47.
The fund has a beta of 0.98 and standard deviation of 19.06% for the trailing three-year period, which makes LRGF a medium risk choice in this particular space. With about 315 holdings, it effectively diversifies company-specific risk.
Alternatives
IShares U.S. Equity Factor ETF is a reasonable option for investors seeking to outperform the Style Box - All Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
Dimensional U.S. Targeted Value ETF (DFAT) tracks ---------------------------------------- and the iShares Core S&P U.S. Value ETF (IUSV) tracks S&P 900 Value Index. Dimensional U.S. Targeted Value ETF has $7.38 billion in assets, iShares Core S&P U.S. Value ETF has $13.15 billion. DFAT has an expense ratio of 0.29% and IUSV charges 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - All Cap Value.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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iShares U.S. Equity Factor ETF (LRGF): 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
iShares Core S&P U.S. Value ETF (IUSV): ETF Research Reports
Dimensional U.S. Targeted Value ETF (DFAT): 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 6.63% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Click to get this free report iShares U.S. Equity Factor ETF (LRGF): 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 iShares Core S&P U.S. Value ETF (IUSV): ETF Research Reports Dimensional U.S. Designed to provide broad exposure to the Style Box - All Cap Value category of the market, the iShares U.S. Equity Factor ETF (LRGF) is a smart beta exchange traded fund launched on 04/28/2015.
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Click to get this free report iShares U.S. Equity Factor ETF (LRGF): 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 iShares Core S&P U.S. Value ETF (IUSV): ETF Research Reports Dimensional U.S. Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.63% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Designed to provide broad exposure to the Style Box - All Cap Value category of the market, the iShares U.S. Equity Factor ETF (LRGF) is a smart beta exchange traded fund launched on 04/28/2015.
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Click to get this free report iShares U.S. Equity Factor ETF (LRGF): 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 iShares Core S&P U.S. Value ETF (IUSV): ETF Research Reports Dimensional U.S. Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.63% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Designed to provide broad exposure to the Style Box - All Cap Value category of the market, the iShares U.S. Equity Factor ETF (LRGF) is a smart beta exchange traded fund launched on 04/28/2015.
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Click to get this free report iShares U.S. Equity Factor ETF (LRGF): 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 iShares Core S&P U.S. Value ETF (IUSV): ETF Research Reports Dimensional U.S. Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.63% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Designed to provide broad exposure to the Style Box - All Cap Value category of the market, the iShares U.S. Equity Factor ETF (LRGF) is a smart beta exchange traded fund launched on 04/28/2015.
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16079.0
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2023-05-03 00:00:00 UTC
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2 Smartest Tech Stocks to Buy in 2023 and Beyond
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https://www.nasdaq.com/articles/2-smartest-tech-stocks-to-buy-in-2023-and-beyond-0
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The ever-developing nature of the tech market makes it one of the most reliable ways to enjoy consistent gains. In fact, the Nasdaq-100 Technology Sector index rose 340% over the last decade, with many companies enjoying substantially larger rises in that time.
When choosing tech stocks, finding companies active in high-growth industries is a smart move. This year, emerging markets like artificial intelligence (AI) and virtual/augmented reality (VR/AR) could be some of the biggest winners. As a result, Nvidia (NASDAQ: NVDA) and Apple (NASDAQ: AAPL) are immensely compelling buys thanks to their leading roles in these sectors. Here's more about two of the smartest tech stocks to buy in 2023 and beyond.
1. Nvidia
Nvidia has featured in many headlines over the last few years, with its stock skyrocketing amid the COVID-19 pandemic, then crashing back down in 2022 as it struggled from macroeconomic headwinds. This year, investors have grown bullish over the company again, with its stock up about 90% year to date thanks to its prospects in the future of AI.
According to Statista, the AI market will hit $208 billion in 2023 and is projected to expand nearly 800% to $2 trillion by 2030. Meanwhile, Nvidia is in a prime position to profit significantly from that growth thanks to its lucrative chip business.
A recent AI boom was kicked off in November 2022 with OpenAI's launch of ChatGPT, an advanced chatbot capable of producing human-like dialogue. Nvidia's role comes in as the primary supplier of graphics processing units (GPUs) to ChatGPT. These units are crucial to running and creating AI software. According to research from TrendForce, the OpenAI platform used about 20,000 GPUs in 2020, with that figure expected to rise to 30,000 as ChatGPT prepares for commercialization. As a result, Nvidia could enjoy massive boosts to revenue as demand for its GPUs soars.
Moreover, ChatGPT's success has attracted many other companies, with several competing AI services now under development. Nvidia's ability to supply GPUs to the whole market makes its stock more attractive. The company's potential is evident by its price/earnings-to-growth ratio of 0.4, which suggests its projected stock growth is not currently priced into its shares.
Nvidia's stock is one of the smartest tech stocks to buy this year and beyond.
2. Apple
Apple's stock is almost always a great pick, thanks to its reputation for consistent growth. The company's stock has risen around 310% in the last five years and more than 970% over the last decade. The company's dominance across various areas of consumer tech has grown its brand loyalty and given it the financial resources to expand its business.
In 2023, Apple is expected to venture into the VR/AR market for the first time by releasing a new headset. A report from Bloomberg last month states the company will likely debut the product in June, with the VR/AR device offering a variety of features from games to fitness services, a book reading app, and more.
A totally new product launch for Apple is always an exciting time for investors, based on its past success when entering new markets. The company has a proven talent for taking existing technology, adding its Apple touch, and boosting it into mainstream use as it steals a leading market share. The company has done just this with smartphones, tablets, smart watches, and even headphones.
If Apple can do the same with VR/AR, it will become the leader of a $37 billion industry, projected to expand at a compound annual growth rate of 25% through 2027. Its stock could soar alongside that growth.
With the headset's expected launch just around the corner, now could be the perfect time to add this tech stock to your portfolio.
10 stocks we like better than Nvidia
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 Nvidia 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 April 24, 2023
Dani Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As a result, Nvidia (NASDAQ: NVDA) and Apple (NASDAQ: AAPL) are immensely compelling buys thanks to their leading roles in these sectors. A recent AI boom was kicked off in November 2022 with OpenAI's launch of ChatGPT, an advanced chatbot capable of producing human-like dialogue. A report from Bloomberg last month states the company will likely debut the product in June, with the VR/AR device offering a variety of features from games to fitness services, a book reading app, and more.
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As a result, Nvidia (NASDAQ: NVDA) and Apple (NASDAQ: AAPL) are immensely compelling buys thanks to their leading roles in these sectors. Nvidia's stock is one of the smartest tech stocks to buy this year and beyond. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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As a result, Nvidia (NASDAQ: NVDA) and Apple (NASDAQ: AAPL) are immensely compelling buys thanks to their leading roles in these sectors. Nvidia's stock is one of the smartest tech stocks to buy this year and beyond. 10 stocks we like better than Nvidia When our analyst team has a stock tip, it can pay to listen.
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As a result, Nvidia (NASDAQ: NVDA) and Apple (NASDAQ: AAPL) are immensely compelling buys thanks to their leading roles in these sectors. This year, investors have grown bullish over the company again, with its stock up about 90% year to date thanks to its prospects in the future of AI. Moreover, ChatGPT's success has attracted many other companies, with several competing AI services now under development.
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2023-05-03 00:00:00 UTC
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3 of the Hottest ETFs to Buy in May 2023
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https://www.nasdaq.com/articles/3-of-the-hottest-etfs-to-buy-in-may-2023
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
I’m not a fan of cryptocurrencies. Despite supporting the blockchain, I’ve never gotten comfortable with digital currencies. As a result, it makes it difficult for me to find hot ETFs to buy that aren’t in some way related to digital assets, which have been hotter than a pistol in 2023.
For example, the top-performing ETF in 2023 through March 1 was the Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI). It was up more than 69% at the time. Two months later, WGMI is up 129% for the year.
Those are some numbers. The problem is the ETF has less than $7 million in net assets. That’s hardly a beacon of security. I’m more interested in top-performing ETFs with hundreds of millions of dollars or more in assets.
A quick look at Finviz’s performance statistics for ETFs in 2023 shows that most of the big performers are ETFs like WGMI, leveraged funds, or in some way different from your plain vanilla S&P 500 index fund.
Reading between the lines, here are the three best ETFs to buy for the long haul.
IYW iShares U.S. Technology ETFiShares U.S. Technology ETF $92.19
ITB iShares U.S. Home Construction ETF $75.07
FBCG Fidelity Blue Chip Growth ETF $25.37
iShares U.S. Technology ETF (IYW)
Source: whiteMocca / Shutterstock
The iShares U.S. Technology ETF (NYSEARCA:IYW) is up 23.9% year to date. It tracks the performance of the Russell 1000 Technology RIC 22.5/45 Capped Index.
The capped part of the index means no stock can have a weighting of more than 22.5% and the aggregate of tech stocks with a weighting of 4.5% or greater can’t exceed 45%. This ensures the fund doesn’t get too deep on any particular tech stock.
IYW has a total of 139 holdings. The top three segments of the tech sector by weight are software and services (40.1%), tech hardware and equipment (22.6%), and semiconductors and semiconductor equipment (21.4%).
Its top three holdings by weight are Apple (NASDAQ:AAPL) at 19.7%, Microsoft (NASDAQ:MSFT) at 17.9% and Alphabet (NASDAQ:GOOGL) at 5.3%. So it’s a big bet on Apple and Microsoft, which is a smart one in this environment of uncertainty.
The ETF charges a reasonable fee of 0.39%, or $39 annually per $10,000 invested.
iShares U.S. Home Construction ETF (ITB)
Source: Shutterstock
Home construction stocks got hammered in 2022, so it’s only appropriate that the iShares U.S. Home Construction ETF (BATS:ITB) is up 23.9% YTD.
As its name suggests, ITB invests in a collection of U.S. stocks involved in the home construction sector. A passively managed index fund, it tracks the performance of the Dow Jones U.S. Select Home Construction Index. ITB got its start in April 2006 and is the largest of the U.S.-listed homebuilder ETFs, with $1.8 billion in net assets.
Fairly concentrated with 48 holdings, the top 10 account for nearly 65% of the fund’s net assets. The three largest are D.R. Horton (NYSE:DHI), Lennar (NYSE:LEN), and NVR (NYSE:NVR). They have a combined weight of nearly 37% of the portfolio.
I’ve liked Lennar for some time. In March 2014, I recommended its stock, and I’ve been doing so from time to time ever since. Up 213% since then, it’s had a wild ride.
Owning a basket of stocks via an ETF helps eliminate some of the company-specific risks and volatility, but not all. There’s no question that it’s a rough-and-tumble industry.
That said, the U.S. has a massive housing shortage. The holdings in ITB are going to be partly responsible for solving this problem. Long term, it’s a win, especially if you buy whenever it falls below $50.
Fidelity Blue-Chip Growth Fund (FBCG)
Source: Shutterstock
Fidelity Blue-Chip Growth Fund (BATS:FBCG) has a nice ring, combining blue-chip companies with above-average growth. It’s up 21.3% YTD, nearly three times the S&P 500’s return.
According to the ETF’s fact sheet, the fund invests in mid-cap and large-cap companies that are “well-known, well-established and well-capitalized” and have above-average potential for growth.
Launched in June 2020, the actively managed ETF has approximately 158 holdings. I say “approximately” because it doesn’t reveal its holdings in real-time to ensure that investors aren’t able to copy its investment strategy.
Fidelity launched this nontransparent fund with two others — Fidelity Blue Chip Value ETF (BATS:FBCV) and Fidelity New Millennium ETF (BATS:FMIL) — to leverage its strength in active management.
“Our active equity ETFs harness the power of Fidelity’s 74-year legacy of active management delivered with the tax efficiency, trading flexibility and potential cost efficiency benefits ETF vehicles offer,” stated Greg Friedman, Fidelity’s head of ETF management and strategy.
FBCG has a large weighting in information technology at 41.8%. That’s almost three times the consumer discretionary sector weighting, the second-highest in the fund. The top 20 holdings account for nearly 69% of its $494.2 million in net assets.
Charging 0.59%, you’re getting active management at a reasonable price.
On the date of publication, Will Ashworth 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.
Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.
The post 3 of the Hottest ETFs to Buy in May 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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Its top three holdings by weight are Apple (NASDAQ:AAPL) at 19.7%, Microsoft (NASDAQ:MSFT) at 17.9% and Alphabet (NASDAQ:GOOGL) at 5.3%. As a result, it makes it difficult for me to find hot ETFs to buy that aren’t in some way related to digital assets, which have been hotter than a pistol in 2023. According to the ETF’s fact sheet, the fund invests in mid-cap and large-cap companies that are “well-known, well-established and well-capitalized” and have above-average potential for growth.
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Its top three holdings by weight are Apple (NASDAQ:AAPL) at 19.7%, Microsoft (NASDAQ:MSFT) at 17.9% and Alphabet (NASDAQ:GOOGL) at 5.3%. IYW iShares U.S. Technology ETFiShares U.S. Technology ETF $92.19 ITB iShares U.S. Home Construction ETF $75.07 FBCG Fidelity Blue Chip Growth ETF $25.37 iShares U.S. Technology ETF (IYW) Source: whiteMocca / Shutterstock The iShares U.S. Technology ETF (NYSEARCA:IYW) is up 23.9% year to date. iShares U.S. Home Construction ETF (ITB) Source: Shutterstock Home construction stocks got hammered in 2022, so it’s only appropriate that the iShares U.S. Home Construction ETF (BATS:ITB) is up 23.9% YTD.
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Its top three holdings by weight are Apple (NASDAQ:AAPL) at 19.7%, Microsoft (NASDAQ:MSFT) at 17.9% and Alphabet (NASDAQ:GOOGL) at 5.3%. IYW iShares U.S. Technology ETFiShares U.S. Technology ETF $92.19 ITB iShares U.S. Home Construction ETF $75.07 FBCG Fidelity Blue Chip Growth ETF $25.37 iShares U.S. Technology ETF (IYW) Source: whiteMocca / Shutterstock The iShares U.S. Technology ETF (NYSEARCA:IYW) is up 23.9% year to date. iShares U.S. Home Construction ETF (ITB) Source: Shutterstock Home construction stocks got hammered in 2022, so it’s only appropriate that the iShares U.S. Home Construction ETF (BATS:ITB) is up 23.9% YTD.
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Its top three holdings by weight are Apple (NASDAQ:AAPL) at 19.7%, Microsoft (NASDAQ:MSFT) at 17.9% and Alphabet (NASDAQ:GOOGL) at 5.3%. The capped part of the index means no stock can have a weighting of more than 22.5% and the aggregate of tech stocks with a weighting of 4.5% or greater can’t exceed 45%. I’ve liked Lennar for some time.
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2023-05-02 00:00:00 UTC
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Top Stocks To Buy Now? 3 Dow Stocks In Focus Today
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https://www.nasdaq.com/articles/top-stocks-to-buy-now-3-dow-stocks-in-focus-today
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The Dow Jones Industrial Average (DJIA), commonly known as “the Dow,” is a prominent stock market index that monitors the performance of 30 leading blue-chip companies listed on the New York Stock Exchange (NYSE) and the NASDAQ. The DJIA stands as one of the oldest and most respected market indices globally. The index acts as a gauge of the U.S. economy’s well-being, offering investors a broad overview of market performance while reflecting the robustness of various sectors, including technology, finance, healthcare, and consumer goods.
In addition, Dow 30 stocks encompass the 30 constituent firms of the DJIA, chosen to portray a diverse array of industries and regarded as some of the most stable and established corporations in the United States. It is crucial to understand that the DJIA is a price-weighted index, which means the index’s value is determined by the sum of its constituents’ stock prices, adjusted for stock splits and dividends. This calculation method may result in greater influence from higher-priced stocks, rendering the index less representative of the overall market than other indices, such as the market-cap-weighted S&P 500. Bearing that in mind, let’s explore Dow Jones stocks to watch today.
Dow Stocks To Watch Today
Apple, Inc. (NASDAQ: AAPL)
Nike, Inc. (NYSE: NKE)
Honeywell International Inc. (NASDAQ: HON)
Apple (AAPL Stock)
Apple, Inc. (AAPL) is a globally renowned technology company that designs, manufactures, and markets consumer electronics, software, and online services. Best known for its flagship products such as the iPhone, iPad, Mac computers, and Apple Watch.
Meanwhile, this week Apple is set to report its second quarter 2023 financial results. In detail, the company will release its Q2 2023 earnings results this Thursday, May 4, 2023, after the U.S. stock market closes. To recap, in Q1 2023, Apple reported earnings of $1.88 per share, with revenue of $117.2 billion.
Year-to-date, shares of Apple stock have increased by 34.68% thus far. While, during Tuesday’s mid-morning trading session, AAPL stock is trading at $168.42 per share.
Source: TD Ameritrade TOS
[Read More] Good Stocks To Buy Right Now? 3 Tech Stocks In Focus
Nike (NKE Stock)
Next, Nike, Inc. (NKE) is a multinational corporation specializing in the design, development, manufacturing, and marketing of athletic footwear, apparel, equipment, and accessories. For a sense of scale, Nike is one of the world’s largest suppliers of athletic shoes and apparel.
Back in March, Nike reported its most recent 3rd quarter of 2023 financial results. Diving in, the company posted an EPS of $0.79 on revenue of $12.4 billion. This came in better than analysts’ consensus estimate for the quarter which was earnings of $0.52 per share, with revenue estimates of $11.5 billion. Additionally, Nike also reported that revenue grew by 14.0% versus the same period, the prior year.
In 2023 so far, shares of Nike stock are up 5.73% YTD. Meanwhile, on Tuesday morning, NKE stock dropped off the open by 1.81% so far trading at $125.60 a share.
Source: TD Ameritrade TOS
[Read More] 2 AI Stocks To Watch In May 2023
Honeywell International (HON Stock)
Finally, Honeywell International Inc. (HON) is a diversified technology and manufacturing company that operates in various sectors, including aerospace, building technologies, performance materials, and safety and productivity solutions.
Late last month, Honeywell reported better-than-expected first-quarter 2023 earnings results. The company reported earnings of $2.07 per share versus estimates of $1.93 per share. Moreover, the company also notched in revenue of $8.9 billion for Q1 2023, while revenue estimates were expected to be $8.5 billion. As a result, revenue increased by 5.8% for Honeywell on a year-over-year basis.
Year-to-date, shares of HON stock have fallen by 8.05% so far. Furthermore, on Tuesday, Honeywell stock is trading down on the day so far by 1.74% at $197.00 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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Dow Stocks To Watch Today Apple, Inc. (NASDAQ: AAPL) Nike, Inc. (NYSE: NKE) Honeywell International Inc. (NASDAQ: HON) Apple (AAPL Stock) Apple, Inc. (AAPL) is a globally renowned technology company that designs, manufactures, and markets consumer electronics, software, and online services. While, during Tuesday’s mid-morning trading session, AAPL stock is trading at $168.42 per share. The index acts as a gauge of the U.S. economy’s well-being, offering investors a broad overview of market performance while reflecting the robustness of various sectors, including technology, finance, healthcare, and consumer goods.
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Dow Stocks To Watch Today Apple, Inc. (NASDAQ: AAPL) Nike, Inc. (NYSE: NKE) Honeywell International Inc. (NASDAQ: HON) Apple (AAPL Stock) Apple, Inc. (AAPL) is a globally renowned technology company that designs, manufactures, and markets consumer electronics, software, and online services. While, during Tuesday’s mid-morning trading session, AAPL stock is trading at $168.42 per share. Source: TD Ameritrade TOS [Read More] Good Stocks To Buy Right Now?
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Dow Stocks To Watch Today Apple, Inc. (NASDAQ: AAPL) Nike, Inc. (NYSE: NKE) Honeywell International Inc. (NASDAQ: HON) Apple (AAPL Stock) Apple, Inc. (AAPL) is a globally renowned technology company that designs, manufactures, and markets consumer electronics, software, and online services. While, during Tuesday’s mid-morning trading session, AAPL stock is trading at $168.42 per share. The Dow Jones Industrial Average (DJIA), commonly known as “the Dow,” is a prominent stock market index that monitors the performance of 30 leading blue-chip companies listed on the New York Stock Exchange (NYSE) and the NASDAQ.
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Dow Stocks To Watch Today Apple, Inc. (NASDAQ: AAPL) Nike, Inc. (NYSE: NKE) Honeywell International Inc. (NASDAQ: HON) Apple (AAPL Stock) Apple, Inc. (AAPL) is a globally renowned technology company that designs, manufactures, and markets consumer electronics, software, and online services. While, during Tuesday’s mid-morning trading session, AAPL stock is trading at $168.42 per share. Source: TD Ameritrade TOS [Read More] 2 AI Stocks To Watch In May 2023 Honeywell International (HON Stock) Finally, Honeywell International Inc. (HON) is a diversified technology and manufacturing company that operates in various sectors, including aerospace, building technologies, performance materials, and safety and productivity solutions.
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16082.0
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2023-05-02 00:00:00 UTC
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7 Meme Stocks That Investors Can Actually Trust
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https://www.nasdaq.com/articles/7-meme-stocks-that-investors-can-actually-trust
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
While investment ideas derived from social media platforms tend to have a high-risk reputation, some of the best meme stocks to buy present rather sensible profiles. In other words, you can envision a typical financial advisor speaking well of these enterprises. This just proves that you can’t judge a book by its cover.
Another reason to consider meme stocks with fundamentals centers on the broader enthusiasm of the retail investor community. Prior to the Covid-19 pandemic, financial advisors bemoaned that millennials weren’t getting involved in the market. Now, they are and it’s possible that this sentiment shift may be permanent. Thus, the increased attention to the equities sector may lift all boats.
Finally, millennials and also older members of Generation Z enjoy rising spending power. Therefore, the securities they like should theoretically see price appreciation. Therefore, here’s my list for meme stocks 2023 (that actually makes sense).
AAPL Apple $168.54
NVDA Nvidia $282.10
MAR Marriott $178.61
CAT Caterpillar $215.15
CVX Chevron $160.04
AMZN Amazon.com $103.63
IBKR Interactive Brokers $74.13
Meme Stocks to Buy: Apple (AAPL)
Source: Vytautas Kielaitis / Shutterstock.com
As a consumer technology giant, Apple (NASDAQ:AAPL) offers a sensible – if not boring – idea for the best meme stocks to buy. For years, marketing professionals identified Apple as a brand powerhouse. To this day, the tech stalwart continues to enjoy the status of the most valuable brand in the world. Whether we’re dealing with pandemics or bank runs, consumers can’t get enough of Apple’s digital devices.
On the financial side, Apple brings plenty of firepower to the table. Operationally, the company commands a three-year revenue growth rate of 20%, above 86.44% of sector rivals. Also, it posts a free cash flow (FCF) growth rate of 29.2%, beating out 76% of its peers.
On the bottom line, Apple prints a trailing-year net margin of 24.56%, outpacing nearly 96% of rivals. It’s also consistently profitable over the past 10 years. Finally, Wall Street analysts peg AAPL as a consensus strong buy. However, the average price target of $174.85 implies only 3% upside potential.
Meme Stocks to Buy: Nvidia (NVDA)
Source: Michael Vi / Shutterstock.com
As a tech firm that garnered fame for its graphics processing units (GPUs), it’s no surprise that Nvidia (NASDAQ:NVDA) ranks among the best meme stocks to buy. Sure, these GPUs undergird video gaming applications, which obviously appeal to millennials and Gen Z. At the same time, its processors support other far-reaching endeavors such as data centers and artificial intelligence.
Financially, Nvidia benefits from significant strengths in the balance sheet, particularly its stratospheric Altman Z-Score of 23.39. This stat indicates high fiscal stability and a low risk of imminent bankruptcy. On the operational side, Nvidia posts a three-year revenue growth rate of 34.5%, above 87.72% of companies listed in the semiconductors industry.
For profitability, its trailing-year net margin pings at a strong 16.19%, above 70.56% of rivals. However, a noticeable drawback is the forward multiple of 61.73, which is very overpriced. Unsurprisingly, analysts peg NVDA as a consensus strong buy. However, their price target of $286.94 implies a little over 3% upside potential.
Meme Stocks to Buy: Marriott (MAR)
Source: Shutterstock
Breaking away from the tech-oriented meme stocks to buy, Marriott (NASDAQ:MAR) presents intrigue for market participants. Notably, Gen Z desires experiences over more tangible achievements that prior generations aimed for. Thus, some market analysts believe that young folks will help spark a travel resurgence, especially since virtually all jurisdictions have relaxed their Covid-mitigation protocols.
Financially, Marriott presents somewhat of a mixed bag. On paper, its balance sheet appears rather challenged, particularly its cash-to-debt ratio of 0.05. That’s worse than about 89% of the competition. However, the pandemic did a number on the space. On a more positive note, Marriott’s three-year revenue growth rate comes out to 0.7%, which actually beats out nearly 65% of its peers.
On the bottom line, Marriott enjoys a trailing-year net margin of 11.35%, above 74% of companies listed in the travel and leisure space. Thus, it could be one of the meme stocks with potential, especially if Gen Z shows up. Analysts peg MAR as a consensus moderate buy. Their average price target lands at $183.18, implying over 8% upside potential.
Caterpillar (CAT)
Source: Vova Shevchuk / Shutterstock.com
A rather surprising entry among the best meme stocks to buy, Caterpillar (NYSE:CAT) carries serious clout as a top manufacturer of construction equipment. Frankly, the idea seems rather boring for young investors but they’re also onto something. Aside from the infrastructure bill, several nations will look to rebuild following Covid’s disruption. Thus, Caterpillar could rise higher.
Interestingly, according to investment resource Gurufocus, CAT stock enjoys five good signs and no yellow or red flags. In my view, Caterpillar’s best attributes center on its profitability profile. For example, its operating and net margins ping at 14.86% and 11.28%, respectively. Both stats rank better than at least 87% of the competition.
However, one less-than-desirable feature may be its valuation. Right now, CAT trades at a forward multiple of 13.7, ranked worse than 61.36% of its peers. Analysts peg CAT as a consensus hold. Nevertheless, their average price target comes out to $240.47, implying nearly 10% upside potential.
Chevron (CVX)
Source: Sundry Photography / Shutterstock.com
One of the world’s biggest oil and natural gas companies, Chevron (NYSE:CVX) deserves to sit at the table of best meme stocks to buy. About a month ago, the oil cartel known as OPEC+ decided to impose a surprise production cut. Effectively, the cartel also proved that the Federal Reserve will not be the only entity to strongly influence the dollar. For investors, the hydrocarbon players suddenly got more interesting.
Despite operating in a somewhat controversial industry, CVX clearly ranks among the meme stocks with fundamentals. It enjoys a stout balance sheet, with an equity-to-asset ratio of 0.62 times, better than 66% of its peers. Operationally, Chevron’s three-year revenue growth rate pings at 18.1%, outflanking 69.72% of sector rivals.
On the bottom line, Chevron has a trailing-year net margin of 15.05%, beating out 68.62% of the competition. Aside from the Covid-disrupted 2020, it’s also consistently profitable. Finally, analysts peg CVX as a consensus moderate buy. Their average price target hits $190.44, implying 13% upside potential.
Amazon (AMZN)
Source: Tada Images / Shutterstock.com
Moving onto the riskiest segment of meme stocks to buy, Amazon (NASDAQ:AMZN) previously dominated the equities sphere. However, 2022 imposed heavy headwinds on AMZN, particularly due to skyrocketing inflation. With the consumer economy hurting, people didn’t open their wallets with vigor for discretionary products. As a result, even with AMZN’s strong performance this year, over the past 365 days, it’s down over 15%.
Still, AMZN may be worth a look for those seeking speculative meme stocks with potential. Despite the ravages of last year, Amazon still looks relatively decent. For instance, its three-year revenue growth rate comes out to 21.9%, above 84.38% of companies in the cyclical retail industry.
To be fair, its trailing-year net margin slipped to 0.53% below zero. However, with Amazon’s other relevancies in cloud computing and other tech spheres, it’s worth a wager for the gambling type. Lastly, analysts peg AMZN as a consensus strong buy. Their average price target stands at $137.62, implying almost 31% upside potential.
Interactive Brokers (IBKR)
Source: PX Media / Shutterstock
In my opinion, Interactive Brokers (NASDAQ:IBKR) ranks as the riskiest idea for the best meme stocks to buy. With the Fed committed to tackling inflation by hiking the benchmark interest rate, circumstances don’t seem auspicious for market trading. At the same time, millennials and Gen Z may have sparked a paradigm shift in how they view money. So, it’s possible that IBKR could swing higher.
So far, shares have performed well, gaining 9% since the January opener. In the trailing year, IBKR impresses with a 30% return. On the financial side, it’s a bit of a wobbly picture. Conspicuously, its balance sheet seems weak. For instance, its Altman Z-Score of only 0.29 indicates distress and a higher risk of bankruptcy in the next two years.
On the plus side, Interactive’s consistently profitable. Its operating margin is also impressive at nearly 46%. As well, IBKR trades at 2.02 times FCF, which is significantly undervalued. Enticingly, analysts peg IBKR as a unanimous strong buy. Their average price target hits $111.40, implying over 43% upside potential.
On the date of publication, Josh Enomoto 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.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
The post 7 Meme Stocks That Investors Can Actually Trust 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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AAPL Apple $168.54 NVDA Nvidia $282.10 MAR Marriott $178.61 CAT Caterpillar $215.15 CVX Chevron $160.04 AMZN Amazon.com $103.63 IBKR Interactive Brokers $74.13 Meme Stocks to Buy: Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com As a consumer technology giant, Apple (NASDAQ:AAPL) offers a sensible – if not boring – idea for the best meme stocks to buy. Finally, Wall Street analysts peg AAPL as a consensus strong buy. With the Fed committed to tackling inflation by hiking the benchmark interest rate, circumstances don’t seem auspicious for market trading.
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AAPL Apple $168.54 NVDA Nvidia $282.10 MAR Marriott $178.61 CAT Caterpillar $215.15 CVX Chevron $160.04 AMZN Amazon.com $103.63 IBKR Interactive Brokers $74.13 Meme Stocks to Buy: Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com As a consumer technology giant, Apple (NASDAQ:AAPL) offers a sensible – if not boring – idea for the best meme stocks to buy. Finally, Wall Street analysts peg AAPL as a consensus strong buy. Their average price target hits $190.44, implying 13% upside potential.
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AAPL Apple $168.54 NVDA Nvidia $282.10 MAR Marriott $178.61 CAT Caterpillar $215.15 CVX Chevron $160.04 AMZN Amazon.com $103.63 IBKR Interactive Brokers $74.13 Meme Stocks to Buy: Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com As a consumer technology giant, Apple (NASDAQ:AAPL) offers a sensible – if not boring – idea for the best meme stocks to buy. Finally, Wall Street analysts peg AAPL as a consensus strong buy. Meme Stocks to Buy: Nvidia (NVDA) Source: Michael Vi / Shutterstock.com As a tech firm that garnered fame for its graphics processing units (GPUs), it’s no surprise that Nvidia (NASDAQ:NVDA) ranks among the best meme stocks to buy.
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AAPL Apple $168.54 NVDA Nvidia $282.10 MAR Marriott $178.61 CAT Caterpillar $215.15 CVX Chevron $160.04 AMZN Amazon.com $103.63 IBKR Interactive Brokers $74.13 Meme Stocks to Buy: Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com As a consumer technology giant, Apple (NASDAQ:AAPL) offers a sensible – if not boring – idea for the best meme stocks to buy. Finally, Wall Street analysts peg AAPL as a consensus strong buy. Thus, it could be one of the meme stocks with potential, especially if Gen Z shows up.
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2023-05-02 00:00:00 UTC
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Fund managers at Milken eye fixed income as stocks, real estate lose luster
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https://www.nasdaq.com/articles/fund-managers-at-milken-eye-fixed-income-as-stocks-real-estate-lose-luster
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By Svea Herbst-Bayliss and Carolina Mandl
BEVERLY HILLS, May 2 (Reuters) - Prominent investors including hedge fund and private equity managers at a major industry conference say they are shying away from stocks and real estate amid uncertainty over interest rates, fears of a recession and threat of a U.S. debt default.
Instead, fixed income, which was unpopular when rates were low, is back in favor and seeing strong capital flows into products like bond funds, said fund managers at the Milken Institute Global Conference this week.
Until now, investors made decisions on how to allocate their money based on models that looked at correlations between asset classes, statistics, returns and volatilities over the past 20 years, said Elizabeth Burton, a managing director and client investment strategist at Goldman Sachs.
"Things are very different now," she said.
The shift in focus has been quick and is forcing investors to move away from some assets that had been popular recently. Six months ago, real estate was seen as the "savior asset class" but that is no longer the case, Burton said.
Hedge fund and private equity fund managers plus top banking executives gathered at the conference that began Sunday with debates on how much more the Federal Reserve should raise interest rates and when rate cuts might begin.
Attendees also discussed whether federal regulators should raise FDIC deposit insurance after First Republic Bank was seized and sold to JPMorgan, and how markets will react to even higher interest rates and potentially more market volatility.
With the S&P 500 .SPX up 7.5% since January after a brutal 2022 when the index tumbled nearly 20% and bonds also fell, fund managers are hoping for more gains - though some at the conference said that smacked of rose-colored glasses.
"You get a good sense of consensus at these conferences," said Katie Koch, president and CEO of investment firm TCW. "And I think people are still feeling a little too good. People are too happy."
But some also worried that big companies like Microsoft MSFT.O and Apple AAPL.O that helped pull the S&P 500 index higher this year may be overvalued.
"I don't like equities because of the uncertainty," said Anastasia Titarchuk, chief investment officer at the New York State Common Retirement Fund.
Others warned that companies will soon have to refinance their debt at higher rates, making them less attractive.
Instead, thanks to higher interest rates, fixed income is once again playing a bigger role in portfolios.
"The Fed has helped us put the income back in fixed income," said Anne Walsh, Chief Investment Officer for Guggenheim Partners Investment Management.
"As a result, we're actually able to capture at least in the short run some very nice yields."
Other investors also saidsecondary private equity fundsthat purchase assets from primary private equity investors could also become attractive as demand for liquidity rises sharply.
Some investors have not given up on equities, though they caution that portfolio selections need to be made carefully.
"Bottom up fundamental investing, including crunching the numbers, is coming back as the risk-free rate has climbed," said Alexander Roepers, chief investment officer of investment firm Atlantic Investment Management, referring to the interest rate investors can expect on an investment that carries zero risk.
As investors mulled what lies ahead for markets, the mood was more downbeat than in previous years - though at the conference at least, a wellness area for participants with hug-worthy puppies and massages offered some respite.
(Reporting by Svea Herbst-Bayliss, editing by Deepa Babington)
((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters Messaging: svea.herbst.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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But some also worried that big companies like Microsoft MSFT.O and Apple AAPL.O that helped pull the S&P 500 index higher this year may be overvalued. By Svea Herbst-Bayliss and Carolina Mandl BEVERLY HILLS, May 2 (Reuters) - Prominent investors including hedge fund and private equity managers at a major industry conference say they are shying away from stocks and real estate amid uncertainty over interest rates, fears of a recession and threat of a U.S. debt default. Until now, investors made decisions on how to allocate their money based on models that looked at correlations between asset classes, statistics, returns and volatilities over the past 20 years, said Elizabeth Burton, a managing director and client investment strategist at Goldman Sachs.
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But some also worried that big companies like Microsoft MSFT.O and Apple AAPL.O that helped pull the S&P 500 index higher this year may be overvalued. By Svea Herbst-Bayliss and Carolina Mandl BEVERLY HILLS, May 2 (Reuters) - Prominent investors including hedge fund and private equity managers at a major industry conference say they are shying away from stocks and real estate amid uncertainty over interest rates, fears of a recession and threat of a U.S. debt default. Instead, thanks to higher interest rates, fixed income is once again playing a bigger role in portfolios.
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But some also worried that big companies like Microsoft MSFT.O and Apple AAPL.O that helped pull the S&P 500 index higher this year may be overvalued. By Svea Herbst-Bayliss and Carolina Mandl BEVERLY HILLS, May 2 (Reuters) - Prominent investors including hedge fund and private equity managers at a major industry conference say they are shying away from stocks and real estate amid uncertainty over interest rates, fears of a recession and threat of a U.S. debt default. Hedge fund and private equity fund managers plus top banking executives gathered at the conference that began Sunday with debates on how much more the Federal Reserve should raise interest rates and when rate cuts might begin.
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But some also worried that big companies like Microsoft MSFT.O and Apple AAPL.O that helped pull the S&P 500 index higher this year may be overvalued. Instead, fixed income, which was unpopular when rates were low, is back in favor and seeing strong capital flows into products like bond funds, said fund managers at the Milken Institute Global Conference this week. Hedge fund and private equity fund managers plus top banking executives gathered at the conference that began Sunday with debates on how much more the Federal Reserve should raise interest rates and when rate cuts might begin.
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2023-05-02 00:00:00 UTC
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Bank Stocks Alert: Why Are PACW, WAL, BAC, ZION, Down Today?
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https://www.nasdaq.com/articles/bank-stocks-alert%3A-why-are-pacw-wal-bac-zion-down-today
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
We all knew the market had a full plate this week, but bank stocks were not expected to be in the spotlight. At least, not quite this much. That’s even after the recent failure of First Republic Bank. Instead, it was supposed to be other events.
The Federal Reserve’s two-day meeting begins today (and concludes on Wednesday) as the Fed’s expected to raise interest rates once again. In fact, the market was pricing in a ~93% likelihood the Fed would raise rates by 25 basis points. A day later, those odds sit at 85%.
Other events on the docket? Apple (NASDAQ:AAPL) reports earnings on Thursday after the close, and the monthly jobs report will be released on Friday morning.
However, those events seem lightyears away, as the focus remains squarely on the Fed and on regional banks.
Stocks like PacWest (NASDAQ:PACW), Western Alliance Bancorporation (NYSE:WAL), Zions Bancorporation (NASDAQ:ZION) and others are getting hammered. Specifically, this trio is down 25%, 17% and 12% on the day so far, respectively.
The SPDR S&P Regional Banking ETF (NYSEARCA:KRE) is making new 52-week lows as a result. The spillover in the regional banks is obviously weighing on investor sentiment. It doesn’t help that the Fed is forecast to raise rates again this week, putting even more pressure on many of these names.
Will Bank Stocks Cripple the Rally?
So far, the Big Banks like JPMorgan Chase (NYSE:JPM) have been able to step in and pick up the pieces from these banks, while the FDIC has been able to insure depositors. Still, to see three notable U.S. bank failures so far this year is raising an alarm bell.
In March, Silicon Valley Bank and Signature Bank both failed, but investors chalked it up to poor management. That’s certainly true, but it does ignore some clear underlying issues.
The entire sector is trading poorly, and at some point, that presents a risk to the broader market. For investors who think these are no-name bank stocks and present little risk, consider:
“Monday’s shutdown marks the nation’s second-largest bank failure — First Republic Bank had nearly $230 billion in assets last month — eclipsing the Silicon Valley Bank collapse. Three of the four largest bank failures in U.S. history have taken place over the last two months.”
The reason for today’s action is not immediately clear, as there were not any imminent concerns at the start of trading. The KRE ETF did not do anything of significance in the pre-market session. Further, it opened lower by just 0.30%. At last glance, it was down almost 7%.
The fact that it comes just a day ahead of the Fed’s announcement is a bit concerning. At the very least, investors should keep an eye on the regional bank stocks, even if they aren’t trading them.
On the date of publication, Bret Kenwell 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.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
The post Bank Stocks Alert: Why Are PACW, WAL, BAC, ZION, Down Today? appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (NASDAQ:AAPL) reports earnings on Thursday after the close, and the monthly jobs report will be released on Friday morning. The Federal Reserve’s two-day meeting begins today (and concludes on Wednesday) as the Fed’s expected to raise interest rates once again. Three of the four largest bank failures in U.S. history have taken place over the last two months.” The reason for today’s action is not immediately clear, as there were not any imminent concerns at the start of trading.
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Apple (NASDAQ:AAPL) reports earnings on Thursday after the close, and the monthly jobs report will be released on Friday morning. InvestorPlace - Stock Market News, Stock Advice & Trading Tips We all knew the market had a full plate this week, but bank stocks were not expected to be in the spotlight. Stocks like PacWest (NASDAQ:PACW), Western Alliance Bancorporation (NYSE:WAL), Zions Bancorporation (NASDAQ:ZION) and others are getting hammered.
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Apple (NASDAQ:AAPL) reports earnings on Thursday after the close, and the monthly jobs report will be released on Friday morning. InvestorPlace - Stock Market News, Stock Advice & Trading Tips We all knew the market had a full plate this week, but bank stocks were not expected to be in the spotlight. In March, Silicon Valley Bank and Signature Bank both failed, but investors chalked it up to poor management.
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Apple (NASDAQ:AAPL) reports earnings on Thursday after the close, and the monthly jobs report will be released on Friday morning. InvestorPlace - Stock Market News, Stock Advice & Trading Tips We all knew the market had a full plate this week, but bank stocks were not expected to be in the spotlight. In fact, the market was pricing in a ~93% likelihood the Fed would raise rates by 25 basis points.
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16085.0
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2023-05-02 00:00:00 UTC
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Noteworthy Tuesday Option Activity: NRDS, AAPL, ALLY
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https://www.nasdaq.com/articles/noteworthy-tuesday-option-activity%3A-nrds-aapl-ally
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in NerdWallet Inc (Symbol: NRDS), where a total of 4,690 contracts have traded so far, representing approximately 469,000 underlying shares. That amounts to about 89.2% of NRDS's average daily trading volume over the past month of 525,545 shares. Especially high volume was seen for the $12.50 strike call option expiring May 19, 2023, with 1,014 contracts trading so far today, representing approximately 101,400 underlying shares of NRDS. Below is a chart showing NRDS's trailing twelve month trading history, with the $12.50 strike highlighted in orange:
Apple Inc (Symbol: AAPL) saw options trading volume of 444,570 contracts, representing approximately 44.5 million underlying shares or approximately 87% of AAPL's average daily trading volume over the past month, of 51.1 million shares. Especially high volume was seen for the $170 strike call option expiring May 05, 2023, with 26,585 contracts trading so far today, representing approximately 2.7 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $170 strike highlighted in orange:
And Ally Financial Inc (Symbol: ALLY) saw options trading volume of 44,076 contracts, representing approximately 4.4 million underlying shares or approximately 84.3% of ALLY's average daily trading volume over the past month, of 5.2 million shares. Particularly high volume was seen for the $25 strike put option expiring May 19, 2023, with 13,307 contracts trading so far today, representing approximately 1.3 million underlying shares of ALLY. Below is a chart showing ALLY's trailing twelve month trading history, with the $25 strike highlighted in orange:
For the various different available expirations for NRDS options, AAPL options, or ALLY options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Historical EPS
MTSI Price Target
Funds Holding Zebra Technologies
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $170 strike call option expiring May 05, 2023, with 26,585 contracts trading so far today, representing approximately 2.7 million underlying shares of AAPL. Below is a chart showing NRDS's trailing twelve month trading history, with the $12.50 strike highlighted in orange: Apple Inc (Symbol: AAPL) saw options trading volume of 444,570 contracts, representing approximately 44.5 million underlying shares or approximately 87% of AAPL's average daily trading volume over the past month, of 51.1 million shares. Below is a chart showing AAPL's trailing twelve month trading history, with the $170 strike highlighted in orange: And Ally Financial Inc (Symbol: ALLY) saw options trading volume of 44,076 contracts, representing approximately 4.4 million underlying shares or approximately 84.3% of ALLY's average daily trading volume over the past month, of 5.2 million shares.
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Below is a chart showing NRDS's trailing twelve month trading history, with the $12.50 strike highlighted in orange: Apple Inc (Symbol: AAPL) saw options trading volume of 444,570 contracts, representing approximately 44.5 million underlying shares or approximately 87% of AAPL's average daily trading volume over the past month, of 51.1 million shares. Especially high volume was seen for the $170 strike call option expiring May 05, 2023, with 26,585 contracts trading so far today, representing approximately 2.7 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $170 strike highlighted in orange: And Ally Financial Inc (Symbol: ALLY) saw options trading volume of 44,076 contracts, representing approximately 4.4 million underlying shares or approximately 84.3% of ALLY's average daily trading volume over the past month, of 5.2 million shares.
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Below is a chart showing NRDS's trailing twelve month trading history, with the $12.50 strike highlighted in orange: Apple Inc (Symbol: AAPL) saw options trading volume of 444,570 contracts, representing approximately 44.5 million underlying shares or approximately 87% of AAPL's average daily trading volume over the past month, of 51.1 million shares. Below is a chart showing AAPL's trailing twelve month trading history, with the $170 strike highlighted in orange: And Ally Financial Inc (Symbol: ALLY) saw options trading volume of 44,076 contracts, representing approximately 4.4 million underlying shares or approximately 84.3% of ALLY's average daily trading volume over the past month, of 5.2 million shares. Especially high volume was seen for the $170 strike call option expiring May 05, 2023, with 26,585 contracts trading so far today, representing approximately 2.7 million underlying shares of AAPL.
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Below is a chart showing NRDS's trailing twelve month trading history, with the $12.50 strike highlighted in orange: Apple Inc (Symbol: AAPL) saw options trading volume of 444,570 contracts, representing approximately 44.5 million underlying shares or approximately 87% of AAPL's average daily trading volume over the past month, of 51.1 million shares. Below is a chart showing AAPL's trailing twelve month trading history, with the $170 strike highlighted in orange: And Ally Financial Inc (Symbol: ALLY) saw options trading volume of 44,076 contracts, representing approximately 4.4 million underlying shares or approximately 84.3% of ALLY's average daily trading volume over the past month, of 5.2 million shares. Especially high volume was seen for the $170 strike call option expiring May 05, 2023, with 26,585 contracts trading so far today, representing approximately 2.7 million underlying shares of AAPL.
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16086.0
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2023-05-02 00:00:00 UTC
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Q1 Earnings Season Scorecard and Featured Research on Apple, Microsoft & Meta Platforms
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AAPL
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https://www.nasdaq.com/articles/q1-earnings-season-scorecard-and-featured-research-on-apple-microsoft-meta-platforms
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nan
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nan
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Tuesday, May 2, 2023
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features a real-time update on the ongoing Q1 earnings season in addition to new research reports on 16 major stocks, including Apple Inc. (AAPL), Microsoft Corporation (MSFT) and Meta Platforms, Inc. (META). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Q1 Earnings Season Scorecard
Including all of this morning's releases, we now have Q1 results from 310 S&P 500 members or 62% of the index's total membership.
Total earnings for these companies are down -2.2% from the same period last year on +3.9% higher revenues, with 78.1% beating EPS estimates and 73.9% beating revenue estimates.
The proportion of these 310 index members beating both EPS and revenue estimates is 61.6%. This 61.6% 'blended' beats percentage compares to 57.4% in 2022 Q4, 54.5% in 2022 Q3, 57.1% in Q2, 63.9% in Q1 and the 5-year average of 59.4%.
Looking at 2023 Q1 as a whole, combining the actuals that have come out with estimates for the still-to-come companies, total S&P 500 earnings are now expected to be down -5.4% on +3.1% higher revenues.
Earnings for the current period (2023 Q2) are currently expected to be down -7.4% from the same period last year on -0.6% lower revenues. This is only modestly down from -7.2% and -0.5% expected at the end of March 2023.
For more details about the Q1 earnings season and evolving expectations for the coming periods, please check out our weekly Earnings Trends report here >>> 2023 Earnings: Good Enough, But Not Great
Featured Analyst Reports
Apple shares have been standout performers this year, with the stock gaining +29.4% vs. +20.3% gain for the Zacks Tech sector and +9% gain for the S&P 500 index. Ahead of the company's March-quarter earnings release after the market's close on Thursday (May 4th), the Zacks analyst sees Apple's revenues to grow year over year. Growing services subscriber base and a strong liquidity position are key catalysts for Apple’s prospects.
However, Apple expects the March quarter’s year-over-year revenue growth to be similar to that of the December quarter due to unfavorable forex. For iPhone, Apple expects the March quarter’s year-over-year revenue growth to accelerate relative to the December quarter’s year-over-year revenue growth.
For Mac and iPad, revenues are expected to decline in double digits on a year-over-year basis due to challenging comparison and macroeconomic headwinds. Services revenue growth is expected to be negatively impacted by challenging macroeconomic conditions, as well as weakness in digital advertising and gaming.
(You can read the full research report on Apple here >>>)
Shares of Microsoft have outperformed the Zacks Computer - Software industry over the past six months (+43.4% vs. +37.9%). The company’s third-quarter fiscal 2023 results were driven by improvement in Intelligent Cloud and Productivity and Business Processes, offset in part by a decline in More Personal Computing. Intelligent Cloud revenues increased in the quarter, driven by Azure and other cloud services. Productivity and Business
Processes revenues increased due to the Office 365 Commercial. Continued momentum in the small and medium businesses and frontline worker offerings, as well as gain in revenue per user drove top-line growth. More Personal Computing revenues decreased due to Windows and Devices. Steady performance in Talent Solutions aided LinkedIn revenues.
However, declining gaming revenues and videogame sales were headwinds. Increasing spend on Azure enhancements amid stiff competition in the cloud space from Amazon is likely to dent margins.
(You can read the full research report on Microsoft here >>>)
Shares of Meta Platforms have outperformed the Zacks Internet - Software industry over the past year (+14.7% vs. -14.0%). The company is benefiting from steady user growth across all regions, particularly Asia Pacific. Increased engagement for its products like Instagram, WhatsApp, Messenger, and Facebook has been a major growth driver. Its restructuring plan is expected to reduce expenses driving profitability.
However, challenging macroeconomic conditions is negatively impacting Meta’s advertising revenues. Unfavorable forex, targeting and measurement headwinds due to Apple’s iOS changes are headwinds. Its second-quarter guidance reflects macroeconomic and forex concerns.
The company continues to expect Reality Labs operating losses to increase year-over-year in 2023. Ongoing regulatory developments including upcoming IDPC decision on transatlantic data transfers is expected to weigh down its prospects.
(You can read the full research report on Meta Platforms here >>>)
Other noteworthy reports we are featuring today include Anheuser-Busch InBev SA/NV (BUD), Diageo plc (DEO) and 3M Company (MMM).
Director of Research
Sheraz Mian
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Robust Portfolio, Services Strength to Benefit Apple (AAPL)
Adoption of Cloud & Office 365 Strength Aid Microsoft (MSFT)
User Growth, Instagram Strength Aids Meta Platforms (META)
Featured Reports
AB InBev's (BUD) Focus on Innovation to Boost Market Share
Per the Zacks analyst, AB InBev remains focused on solidifying market position by introducing near beer alternatives, along with no- and low-alcohol beers to resonate with the changing consumer demand
Premiumization & Pricing Plans Aid Diageo (DEO) Amid Inflation
Per the Zacks analyst, premiumization efforts, market recovery, pricing actions and supply productivity savings have boosted Diageo's performance. This has helped offset the ongoing cost inflation.
3M (MMM) Banks on Cost Controls Amid Demand Softness
Per the Zacks analyst, 3M's cost-control initiatives should help the company stay afloat as it grapples with lower disposable respirator demand and reduced consumer electronics demand.
Steady Investment & Renewable Focus Aid Eversource (ES)
Per the Zacks analyst, Eversource's investment of $21.5 billion within 2023-2027 time period will boost clean electricity generation, fortify its infrastructure and increase reliability of its service
Ovintiv (OVV) to Gain from Premium Asset Portfolio
The Zacks analyst likes Ovintiv's premium inventory of drilled uncompleted wells that can be quickly brought into production. However, the company's low current ratio signals financial difficulties.
Solid Growth in Exparel Sales Boost Pacira (PCRX)
Per the Zacks Analyst, Pacira's lead drug Exparel has been witnessing strong uptake and growth on the back of expanded indications. However, the lack of other candidates in the pipeline is a woe.
Robust Rayaldee Sales Continue to Aid OPKO Health (OPK)
The Zacks analyst is upbeat about OPKO Health's robust Rayaldee sales despite its operation in a highly competitive market.
New Upgrades
Digital Sales & Expansion Boosts Chipotle's (CMG) Prospects
Per the Zacks analyst, Chipotle is posied to benefit from strong digital sales, rise in prices and menu innovation. This and focus on new restaurant openings including a Chipotlane bode well.
PACCAR (PCAR) To be Aided by Improved Product Mix
PACCAR's next-gen models like Peterbilt 579EV, hydrogen fuel-cell Kenworth T680E and Peterbilt autonomous Model 579 are set to improve its product mix and bolster revenues, per the Zacks analyst.
Xerox (XRX) is Gaining From Cost and Productivity Initiatives
Per the Zacks Analyst, Xerox's cost control and productivity improvement initiative called "Project Own It," is fetching results in the form of strong margins.
New Downgrades
Weak Macro Environment, Integration Efforts Ail Aspen (AZPN)
Per the Zacks analyst, uncertain macro environment, ongoing integration and transformation efforts and cautious software spending in the chemical industry are weighing down on the Aspen's performance.
High Expenses, Leverage Concern First American (FAF)
Per the Zacks analyst, First American's increase in higher personnel costs, operating expenses induces higher expenses that weigh on margin expansion. High leverage induces rise in interest expense.
High Costs, Loan Concentration to Hurt Valley National (VLY)
Per the Zacks analyst, elevated expenses due to inorganic growth efforts will likely hurt Valley National's profits. A concentrated loan portfolio is another woe which makes us apprehensive.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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
3M Company (MMM) : Free Stock Analysis Report
Diageo plc (DEO) : Free Stock Analysis Report
Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report
Meta Platforms, Inc. (META) : 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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If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Robust Portfolio, Services Strength to Benefit Apple (AAPL) Adoption of Cloud & Office 365 Strength Aid Microsoft (MSFT) User Growth, Instagram Strength Aids Meta Platforms (META) Featured Reports AB InBev's (BUD) Focus on Innovation to Boost Market Share Per the Zacks analyst, AB InBev remains focused on solidifying market position by introducing near beer alternatives, along with no- and low-alcohol beers to resonate with the changing consumer demand Premiumization & Pricing Plans Aid Diageo (DEO) Amid Inflation Per the Zacks analyst, premiumization efforts, market recovery, pricing actions and supply productivity savings have boosted Diageo's performance. Today's Research Daily features a real-time update on the ongoing Q1 earnings season in addition to new research reports on 16 major stocks, including Apple Inc. (AAPL), Microsoft Corporation (MSFT) and Meta Platforms, Inc. (META). Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Diageo plc (DEO) : Free Stock Analysis Report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here.
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If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Robust Portfolio, Services Strength to Benefit Apple (AAPL) Adoption of Cloud & Office 365 Strength Aid Microsoft (MSFT) User Growth, Instagram Strength Aids Meta Platforms (META) Featured Reports AB InBev's (BUD) Focus on Innovation to Boost Market Share Per the Zacks analyst, AB InBev remains focused on solidifying market position by introducing near beer alternatives, along with no- and low-alcohol beers to resonate with the changing consumer demand Premiumization & Pricing Plans Aid Diageo (DEO) Amid Inflation Per the Zacks analyst, premiumization efforts, market recovery, pricing actions and supply productivity savings have boosted Diageo's performance. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Diageo plc (DEO) : Free Stock Analysis Report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. Today's Research Daily features a real-time update on the ongoing Q1 earnings season in addition to new research reports on 16 major stocks, including Apple Inc. (AAPL), Microsoft Corporation (MSFT) and Meta Platforms, Inc. (META).
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If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Robust Portfolio, Services Strength to Benefit Apple (AAPL) Adoption of Cloud & Office 365 Strength Aid Microsoft (MSFT) User Growth, Instagram Strength Aids Meta Platforms (META) Featured Reports AB InBev's (BUD) Focus on Innovation to Boost Market Share Per the Zacks analyst, AB InBev remains focused on solidifying market position by introducing near beer alternatives, along with no- and low-alcohol beers to resonate with the changing consumer demand Premiumization & Pricing Plans Aid Diageo (DEO) Amid Inflation Per the Zacks analyst, premiumization efforts, market recovery, pricing actions and supply productivity savings have boosted Diageo's performance. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Diageo plc (DEO) : Free Stock Analysis Report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here. Today's Research Daily features a real-time update on the ongoing Q1 earnings season in addition to new research reports on 16 major stocks, including Apple Inc. (AAPL), Microsoft Corporation (MSFT) and Meta Platforms, Inc. (META).
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Today's Research Daily features a real-time update on the ongoing Q1 earnings season in addition to new research reports on 16 major stocks, including Apple Inc. (AAPL), Microsoft Corporation (MSFT) and Meta Platforms, Inc. (META). If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Robust Portfolio, Services Strength to Benefit Apple (AAPL) Adoption of Cloud & Office 365 Strength Aid Microsoft (MSFT) User Growth, Instagram Strength Aids Meta Platforms (META) Featured Reports AB InBev's (BUD) Focus on Innovation to Boost Market Share Per the Zacks analyst, AB InBev remains focused on solidifying market position by introducing near beer alternatives, along with no- and low-alcohol beers to resonate with the changing consumer demand Premiumization & Pricing Plans Aid Diageo (DEO) Amid Inflation Per the Zacks analyst, premiumization efforts, market recovery, pricing actions and supply productivity savings have boosted Diageo's performance. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Diageo plc (DEO) : Free Stock Analysis Report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report To read this article on Zacks.com click here.
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16087.0
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2023-05-02 00:00:00 UTC
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ETFs to Bet on Mega-Cap Tech Stocks
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AAPL
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https://www.nasdaq.com/articles/etfs-to-bet-on-mega-cap-tech-stocks
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nan
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nan
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Market gains this year have been largely driven by the world's largest companies, which extended their rally last week after reporting better-than-feared results. Prior to these reports, concerns had arisen about lofty valuations, macro headwinds, and an earnings recession.
According to the Financial Times, hedge funds were net sellers in tech stocks ahead of earnings and lost $18 billion on those bets. Strong results from the sector were driven in part by heavy cost-cutting, which boosted profit margins.
These companies have also made significant investments in artificial intelligence, which is expected to enhance their results in the coming quarters.
Microsoft MSFT’s results beat expectations on the top and bottom lines, as well as on quarterly revenue guidance.
Google parent Alphabet's GOOG’s cloud unit reported a profit for the first time. The company also announced a share repurchase of up to $70 billion.
Amazon AMZN reported stronger-than-expected revenue, thanks to strong growth in its cloud computing and advertising businesses.
Meta Platforms META’s shares surged 15% after earnings and are now up more than 90% year-to-date. The CEO has called 2023 the "Year of Efficiency" for the social media giant.
Apple AAPL will report later this week.
To learn more about the Invesco NASDAQ 100 ETF QQQM, the Vanguard Mega Cap Growth ETF MGK and the Roundhill BIG Tech ETF BIGT, please watch the short video above.
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
Alphabet Inc. (GOOG) : Free Stock Analysis Report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Vanguard Mega Cap Growth ETF (MGK): ETF Research Reports
Invesco NASDAQ 100 ETF (QQQM): ETF Research Reports
Meta Platforms, Inc. (META) : Free Stock Analysis Report
Roundhill BIG Tech ETF (BIGT): 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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Apple AAPL will report later this week. Click to get this free report Alphabet Inc. (GOOG) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Vanguard Mega Cap Growth ETF (MGK): ETF Research Reports Invesco NASDAQ 100 ETF (QQQM): ETF Research Reports Meta Platforms, Inc. (META) : Free Stock Analysis Report Roundhill BIG Tech ETF (BIGT): ETF Research Reports To read this article on Zacks.com click here. Market gains this year have been largely driven by the world's largest companies, which extended their rally last week after reporting better-than-feared results.
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Click to get this free report Alphabet Inc. (GOOG) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Vanguard Mega Cap Growth ETF (MGK): ETF Research Reports Invesco NASDAQ 100 ETF (QQQM): ETF Research Reports Meta Platforms, Inc. (META) : Free Stock Analysis Report Roundhill BIG Tech ETF (BIGT): ETF Research Reports To read this article on Zacks.com click here. Apple AAPL will report later this week. To learn more about the Invesco NASDAQ 100 ETF QQQM, the Vanguard Mega Cap Growth ETF MGK and the Roundhill BIG Tech ETF BIGT, please watch the short video above.
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Click to get this free report Alphabet Inc. (GOOG) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Vanguard Mega Cap Growth ETF (MGK): ETF Research Reports Invesco NASDAQ 100 ETF (QQQM): ETF Research Reports Meta Platforms, Inc. (META) : Free Stock Analysis Report Roundhill BIG Tech ETF (BIGT): ETF Research Reports To read this article on Zacks.com click here. Apple AAPL will report later this week. Market gains this year have been largely driven by the world's largest companies, which extended their rally last week after reporting better-than-feared results.
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Click to get this free report Alphabet Inc. (GOOG) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Vanguard Mega Cap Growth ETF (MGK): ETF Research Reports Invesco NASDAQ 100 ETF (QQQM): ETF Research Reports Meta Platforms, Inc. (META) : Free Stock Analysis Report Roundhill BIG Tech ETF (BIGT): ETF Research Reports To read this article on Zacks.com click here. Apple AAPL will report later this week. Market gains this year have been largely driven by the world's largest companies, which extended their rally last week after reporting better-than-feared results.
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16088.0
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2023-05-02 00:00:00 UTC
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Baird Maintains Apple (AAPL) Outperform Recommendation
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AAPL
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https://www.nasdaq.com/articles/baird-maintains-apple-aapl-outperform-recommendation
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nan
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nan
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Fintel reports that on May 2, 2023, Baird maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation.
Analyst Price Forecast Suggests 2.55% Upside
As of April 24, 2023, the average one-year price target for Apple is 173.91. The forecasts range from a low of 117.16 to a high of $215.25. The average price target represents an increase of 2.55% from its latest reported closing price of 169.59.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 413,641MM, an increase of 6.74%. 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 6410 funds or institutions reporting positions in Apple. This is an increase of 189 owner(s) or 3.04% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 2.93%, a decrease of 21.33%. Total shares owned by institutions decreased in the last three months by 0.08% to 10,112,381K shares.
The put/call ratio of AAPL is 1.00, indicating a bearish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 895,136K shares representing 5.66% ownership of the company. In it's prior filing, the firm reported owning 894,802K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in AAPL by 6.86% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 459,387K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 455,109K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in AAPL by 12.36% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 345,686K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 342,454K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in AAPL by 12.57% over the last quarter.
Geode Capital Management holds 282,750K shares representing 1.79% ownership of the company. In it's prior filing, the firm reported owning 279,759K shares, representing an increase of 1.06%. The firm decreased its portfolio allocation in AAPL by 12.15% over the last quarter.
Price T Rowe Associates holds 226,281K shares representing 1.43% ownership of the company. In it's prior filing, the firm reported owning 224,864K shares, representing an increase of 0.63%. The firm decreased its portfolio allocation in AAPL by 7.53% 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.
See all Apple regulatory filings.
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 May 2, 2023, Baird maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 2.93%, a decrease of 21.33%. The put/call ratio of AAPL is 1.00, indicating a bearish outlook.
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Fintel reports that on May 2, 2023, Baird maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 2.93%, a decrease of 21.33%. The put/call ratio of AAPL is 1.00, indicating a bearish outlook.
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Fintel reports that on May 2, 2023, Baird maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. Average portfolio weight of all funds dedicated to AAPL is 2.93%, a decrease of 21.33%. The put/call ratio of AAPL is 1.00, indicating a bearish outlook.
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Average portfolio weight of all funds dedicated to AAPL is 2.93%, a decrease of 21.33%. Fintel reports that on May 2, 2023, Baird maintained coverage of Apple (NASDAQ:AAPL) with a Outperform recommendation. The put/call ratio of AAPL is 1.00, indicating a bearish outlook.
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16089.0
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2023-05-02 00:00:00 UTC
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3 Steps to Indentifying the Market Environment
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AAPL
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https://www.nasdaq.com/articles/3-steps-to-indentifying-the-market-environment
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nan
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nan
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Markets Teach us to Adapt & Evolve.
Paul Tudor Jones is a billionaire hedge fund manager and philanthropist best known for making ~ $100 million during the Black Monday crash of 1987 and more than $7 billion throughout his career. Over the years, Jones has given investors many tidbits of advice, but his most quoted, profound, and simplest to understand statement is, “You adapt, evolve, compete or die.” You can undoubtedly relate to the PTJ quote if you have been involved in markets over the past few years.
For example, coming into 2020, stocks were on a tear until the major indices like the S&P 500 Index ETF (SPY) and Nasdaq 100 ETF (QQQ) got crushed by more than 3% in a single session on news of the coronavirus spread in China, and never looked back. In fact, the major indices did not so much as provide investors with a countertrend rally of more than a few days.
Image Source: Zacks Investment Research
Next, the economy and investors were flooded with stimulus money in the form of “Covid relief” packages. The Trump administration sent $2,000 COVID-19 relief checks to many lower income-retail investors. Couple the relief checks with the “new normal” of many retail investors working from home, and the speculative juices began flowing. As a result, stocks such as GameStop (GME), Bed Bath and Beyond (BBBY), and Virgin Galactic (SPCE) soared to nose-bleed levels.
Image Source: Zacks Investment Research
Pictured: When money was "easy", speculation was in vogue.
Finally, towards the end of 2021, the rampant pandemic induced spending led to a spike in inflation. As inflation began straining the economy in early 2022, the Federal Reserve was forced to raise interest rates rapidly to deter inflation. The end result was that the stocks that gained the most ground and were often part of the high-flying Ark Innovation ETF (ARKK) began to take on heavy selling pressure. In the coming months stocks such as Zoom (ZM) and Teladoc (TDOC) fell by more than 50%, crushing performance chasers.
Know What Market Environment You’re In
Though markets, the economy, and the intricacies that move stocks can seem daunting, investors are best served to take a focused approach and simply listen to the clues that the market is providing in the form of price action. In other words, “if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.”
To better navigate the market, you can utilize these 3 tips:
Differentiate between market cap stocks: For example, QQQ (the Nasdaq 100), which contains tech-juggernauts such as Alphabet (GOOGL), Nvidia (NVDA), and Apple (AAPL) is minting 8-month highs.
Image Source: Zacks Investment Research
Pictured: Quality growth stocks are driving QQQ higher.
Meanwhile, the Nasdaq Next Gen 100 ETF (QQQJ), which tracks the next largest 100 Nasdaq tech stocks, is lagging far behind.
Image Source: Zacks Investment Research
Pictured: QQQJ is living below its 200-day MA while QQQ is breaking out.
Interpretation: Investors are flocking to large-cap tech stocks.
Differentiate between profitable and unprofitable stocks: Outside of Tesla (TSLA) and a few other stocks, the Ark Innovation ETF (ARKK) is a good proxy for unprofitable/speculative growth stocks. Currently, ARKK Is breaking down, while QQQ is breaking out.
Image Source: Zacks Investment Research
Pictured: Unprofitable stocks within the ARK ETF are causing it to break down.
Don’t overthink it: Stick to what is working from a price, fundamental, market cap, and industry perspective. In the current rising rate environment, has been a flight to large-cap tech, quality growth such as NVDA, Microsoft (MSFT), and Advanced Micro Devices (AMD), and profitability.
Image Source: Zacks Investment Research
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apple Inc. (AAPL) : Free Stock Analysis Report
Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
GameStop Corp. (GME) : Free Stock Analysis Report
Bed Bath & Beyond Inc. (BBBY) : Free Stock Analysis Report
Tesla, Inc. (TSLA) : Free Stock Analysis Report
Invesco QQQ (QQQ): ETF Research Reports
SPDR S&P 500 ETF (SPY): ETF Research Reports
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
ARK Innovation ETF (ARKK): ETF Research Reports
Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report
Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report
Invesco NASDAQ Next Gen 100 ETF (QQQJ): 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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In other words, “if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.” To better navigate the market, you can utilize these 3 tips: Differentiate between market cap stocks: For example, QQQ (the Nasdaq 100), which contains tech-juggernauts such as Alphabet (GOOGL), Nvidia (NVDA), and Apple (AAPL) is minting 8-month highs. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report GameStop Corp. (GME) : Free Stock Analysis Report Bed Bath & Beyond Inc. (BBBY) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports Alphabet Inc. (GOOGL) : Free Stock Analysis Report Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report ARK Innovation ETF (ARKK): ETF Research Reports Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report Invesco NASDAQ Next Gen 100 ETF (QQQJ): ETF Research Reports To read this article on Zacks.com click here. Paul Tudor Jones is a billionaire hedge fund manager and philanthropist best known for making ~ $100 million during the Black Monday crash of 1987 and more than $7 billion throughout his career.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report GameStop Corp. (GME) : Free Stock Analysis Report Bed Bath & Beyond Inc. (BBBY) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports Alphabet Inc. (GOOGL) : Free Stock Analysis Report Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report ARK Innovation ETF (ARKK): ETF Research Reports Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report Invesco NASDAQ Next Gen 100 ETF (QQQJ): ETF Research Reports To read this article on Zacks.com click here. In other words, “if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.” To better navigate the market, you can utilize these 3 tips: Differentiate between market cap stocks: For example, QQQ (the Nasdaq 100), which contains tech-juggernauts such as Alphabet (GOOGL), Nvidia (NVDA), and Apple (AAPL) is minting 8-month highs. Image Source: Zacks Investment Research Pictured: Quality growth stocks are driving QQQ higher.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report GameStop Corp. (GME) : Free Stock Analysis Report Bed Bath & Beyond Inc. (BBBY) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports Alphabet Inc. (GOOGL) : Free Stock Analysis Report Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report ARK Innovation ETF (ARKK): ETF Research Reports Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report Invesco NASDAQ Next Gen 100 ETF (QQQJ): ETF Research Reports To read this article on Zacks.com click here. In other words, “if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.” To better navigate the market, you can utilize these 3 tips: Differentiate between market cap stocks: For example, QQQ (the Nasdaq 100), which contains tech-juggernauts such as Alphabet (GOOGL), Nvidia (NVDA), and Apple (AAPL) is minting 8-month highs. Differentiate between profitable and unprofitable stocks: Outside of Tesla (TSLA) and a few other stocks, the Ark Innovation ETF (ARKK) is a good proxy for unprofitable/speculative growth stocks.
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In other words, “if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.” To better navigate the market, you can utilize these 3 tips: Differentiate between market cap stocks: For example, QQQ (the Nasdaq 100), which contains tech-juggernauts such as Alphabet (GOOGL), Nvidia (NVDA), and Apple (AAPL) is minting 8-month highs. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report GameStop Corp. (GME) : Free Stock Analysis Report Bed Bath & Beyond Inc. (BBBY) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports Alphabet Inc. (GOOGL) : Free Stock Analysis Report Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report ARK Innovation ETF (ARKK): ETF Research Reports Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report Virgin Galactic Holdings, Inc. (SPCE) : Free Stock Analysis Report Invesco NASDAQ Next Gen 100 ETF (QQQJ): ETF Research Reports To read this article on Zacks.com click here. For example, coming into 2020, stocks were on a tear until the major indices like the S&P 500 Index ETF (SPY) and Nasdaq 100 ETF (QQQ) got crushed by more than 3% in a single session on news of the coronavirus spread in China, and never looked back.
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16090.0
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2023-05-02 00:00:00 UTC
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Guru Fundamental Report for AAPL - Warren Buffett
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AAPL
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https://www.nasdaq.com/articles/guru-fundamental-report-for-aapl-warren-buffett-29
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nan
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nan
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Below is Validea's guru fundamental report for APPLE INC (AAPL). Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. This strategy seeks out firms with long-term, predictable profitability and low debt that trade at reasonable valuations.
APPLE INC (AAPL) is a large-cap growth stock in the Communications Equipment industry. The rating using this strategy is 100% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS PREDICTABILITY: PASS
DEBT SERVICE: PASS
RETURN ON EQUITY: PASS
RETURN ON TOTAL CAPITAL: PASS
FREE CASH FLOW: PASS
USE OF RETAINED EARNINGS: PASS
SHARE REPURCHASE: PASS
INITIAL RATE OF RETURN: PASS
EXPECTED RETURN: PASS
Detailed Analysis of APPLE INC
AAPL Guru Analysis
AAPL Fundamental Analysis
More Information on Warren Buffett
Warren Buffett Portfolio
Top Warren Buffett Stocks
About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time. As the chairman of Berkshire Hathaway, Buffett has consistently outperformed the S&P 500 for decades, and in the process has become one of the world's richest men. (Forbes puts his net worth at $37 billion.) Despite his fortune, Buffett is known for living a modest lifestyle, by billionaire standards. His primary residence remains the gray stucco Nebraska home he purchased for $31,500 nearly 50 years ago, according to Forbes, and his folksy Midwestern manner and penchant for simple pleasures -- a cherry Coke, a good burger, and a good book are all near the top of the list -- have been well-documented.
Additional Research Links
Factor-Based Stock Portfolios
Factor-Based ETF Portfolios
Harry Browne Permanent Portfolio
Ray Dalio All Weather Portfolio
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click 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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Below is Validea's guru fundamental report for APPLE INC (AAPL). Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. APPLE INC (AAPL) is a large-cap growth stock in the Communications Equipment industry.
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Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. Detailed Analysis of APPLE INC AAPL Guru Analysis AAPL Fundamental Analysis More Information on Warren Buffett Warren Buffett Portfolio Top Warren Buffett Stocks About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time. Below is Validea's guru fundamental report for APPLE INC (AAPL).
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Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. Detailed Analysis of APPLE INC AAPL Guru Analysis AAPL Fundamental Analysis More Information on Warren Buffett Warren Buffett Portfolio Top Warren Buffett Stocks About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time. Below is Validea's guru fundamental report for APPLE INC (AAPL).
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Below is Validea's guru fundamental report for APPLE INC (AAPL). Of the 22 guru strategies we follow, AAPL rates highest using our Patient Investor model based on the published strategy of Warren Buffett. APPLE INC (AAPL) is a large-cap growth stock in the Communications Equipment industry.
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16091.0
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2023-05-02 00:00:00 UTC
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Apple fights $2 bln London lawsuit for 'throttling' millions of iPhones
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AAPL
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https://www.nasdaq.com/articles/apple-fights-%242-bln-london-lawsuit-for-throttling-millions-of-iphones
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nan
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nan
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By Sam Tobin
LONDON, May 2 (Reuters) - Apple Inc AAPL.O urged a London tribunal on Tuesday to block a $2 billion mass lawsuit accusing it of hiding defective batteries in millions of iPhones by "throttling" them with software updates.
The tech giant is facing a lawsuit worth up to 1.6 billion pounds plus interest, brought by consumer champion Justin Gutmann on behalf of iPhone users in the United Kingdom.
Gutmann's lawyers argued in court filings that Apple concealed issues with batteries in certain phone models and "surreptitiously" installed a power management tool which limited performance.
Apple said in written arguments that the lawsuit is "baseless" and strongly denies its iPhones' batteries were defective, apart from in a small number of iPhone 6s models for which it offered free battery replacements.
The company also says its power management update – introduced in 2017 to manage demands on older batteries or with a low level of charge – only reduced an iPhone 6's performance by an average of 10%.
Gutmann on Tuesday asked London's Competition Appeal Tribunal to certify the case and allow it to proceed towards a trial.
His lawyer Philip Moser referred to Apple's 2020 agreements to settle a U.S. class action and regulatory action by U.S. states over iPhone battery issues as showing Apple was not "saying this never happened".
Apple had also committed to be "clearer and more upfront" with iPhone users about battery health to Britain's competition watchdog in 2019, Moser said.
The company denies misleading its customers about iPhone battery issues and points to a public apology it issued in 2017, offering cheaper battery replacements to affected customers.
Apple's lawyer David Wolfson said in court filings that the lawsuit effectively alleges that "not all batteries could deliver the peak power demanded in all circumstances at all times", which was common to all battery-powered devices.
(Reporting by Sam Tobin; Editing by Kirsten Donovan)
((Sam.Tobin@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 Sam Tobin LONDON, May 2 (Reuters) - Apple Inc AAPL.O urged a London tribunal on Tuesday to block a $2 billion mass lawsuit accusing it of hiding defective batteries in millions of iPhones by "throttling" them with software updates. The tech giant is facing a lawsuit worth up to 1.6 billion pounds plus interest, brought by consumer champion Justin Gutmann on behalf of iPhone users in the United Kingdom. Gutmann's lawyers argued in court filings that Apple concealed issues with batteries in certain phone models and "surreptitiously" installed a power management tool which limited performance.
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By Sam Tobin LONDON, May 2 (Reuters) - Apple Inc AAPL.O urged a London tribunal on Tuesday to block a $2 billion mass lawsuit accusing it of hiding defective batteries in millions of iPhones by "throttling" them with software updates. Gutmann's lawyers argued in court filings that Apple concealed issues with batteries in certain phone models and "surreptitiously" installed a power management tool which limited performance. The company denies misleading its customers about iPhone battery issues and points to a public apology it issued in 2017, offering cheaper battery replacements to affected customers.
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By Sam Tobin LONDON, May 2 (Reuters) - Apple Inc AAPL.O urged a London tribunal on Tuesday to block a $2 billion mass lawsuit accusing it of hiding defective batteries in millions of iPhones by "throttling" them with software updates. Apple said in written arguments that the lawsuit is "baseless" and strongly denies its iPhones' batteries were defective, apart from in a small number of iPhone 6s models for which it offered free battery replacements. The company denies misleading its customers about iPhone battery issues and points to a public apology it issued in 2017, offering cheaper battery replacements to affected customers.
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By Sam Tobin LONDON, May 2 (Reuters) - Apple Inc AAPL.O urged a London tribunal on Tuesday to block a $2 billion mass lawsuit accusing it of hiding defective batteries in millions of iPhones by "throttling" them with software updates. The tech giant is facing a lawsuit worth up to 1.6 billion pounds plus interest, brought by consumer champion Justin Gutmann on behalf of iPhone users in the United Kingdom. Gutmann's lawyers argued in court filings that Apple concealed issues with batteries in certain phone models and "surreptitiously" installed a power management tool which limited performance.
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16092.0
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2023-05-02 00:00:00 UTC
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GRAPHIC-Global companies by market cap: Tesla fell most in April
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AAPL
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https://www.nasdaq.com/articles/graphic-global-companies-by-market-cap%3A-tesla-fell-most-in-april
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nan
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nan
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May 2 (Reuters) - Tesla Inc TSLA.O was the biggest loser among top companies by market capitalisation in April, hit by disappointing quarterly earnings after it posted the lowest quarterly gross margin in two years.
Tesla's market cap dropped to $520.7 billion at the end of April from $657.5 billion in March, a 20.8% decline, pushing it to 9th in the rankings from 7th in January.
It was followed by China's Tencent Holdings <0700.HK,>, whose market cap fell 10.7% to $419.9 billion last month, amid heavy selling by technology investment firm Prosus PRX.AS.
On the other hand, Apple Inc AAPL.O and Microsoft Corp MSFT.O saw their market values jump after robust first-quarter earnings.
Saudi Aramco 2223.SE, the world's third-most valuable company, saw its market capitalisation jump to $2.2 trillion in April, a 12.5% increase over March.
Top 20 companies in the world by market cap https://tmsnrt.rs/3oZ3urQ
Change in market cap in Aprilhttps://tmsnrt.rs/41WRh5B
(Reporting by Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru Editing by Mark Potter)
((patturaja.muruga@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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On the other hand, Apple Inc AAPL.O and Microsoft Corp MSFT.O saw their market values jump after robust first-quarter earnings. It was followed by China's Tencent Holdings <0700.HK,>, whose market cap fell 10.7% to $419.9 billion last month, amid heavy selling by technology investment firm Prosus PRX.AS. Saudi Aramco 2223.SE, the world's third-most valuable company, saw its market capitalisation jump to $2.2 trillion in April, a 12.5% increase over March.
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On the other hand, Apple Inc AAPL.O and Microsoft Corp MSFT.O saw their market values jump after robust first-quarter earnings. May 2 (Reuters) - Tesla Inc TSLA.O was the biggest loser among top companies by market capitalisation in April, hit by disappointing quarterly earnings after it posted the lowest quarterly gross margin in two years. Saudi Aramco 2223.SE, the world's third-most valuable company, saw its market capitalisation jump to $2.2 trillion in April, a 12.5% increase over March.
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On the other hand, Apple Inc AAPL.O and Microsoft Corp MSFT.O saw their market values jump after robust first-quarter earnings. May 2 (Reuters) - Tesla Inc TSLA.O was the biggest loser among top companies by market capitalisation in April, hit by disappointing quarterly earnings after it posted the lowest quarterly gross margin in two years. Tesla's market cap dropped to $520.7 billion at the end of April from $657.5 billion in March, a 20.8% decline, pushing it to 9th in the rankings from 7th in January.
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On the other hand, Apple Inc AAPL.O and Microsoft Corp MSFT.O saw their market values jump after robust first-quarter earnings. May 2 (Reuters) - Tesla Inc TSLA.O was the biggest loser among top companies by market capitalisation in April, hit by disappointing quarterly earnings after it posted the lowest quarterly gross margin in two years. Tesla's market cap dropped to $520.7 billion at the end of April from $657.5 billion in March, a 20.8% decline, pushing it to 9th in the rankings from 7th in January.
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16093.0
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2023-05-02 00:00:00 UTC
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2 ETFs That Could Turn $100 Per Week Into $790,000 or More
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AAPL
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https://www.nasdaq.com/articles/2-etfs-that-could-turn-%24100-per-week-into-%24790000-or-more
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nan
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nan
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Earning hundreds of thousands of dollars or more in the stock market may seem like something that's reserved for the ultra-wealthy or elite investors. But it's more attainable than you might think.
You don't need to know a lot about investing to build wealth in the market, but you will need the right investments. Exchange-traded funds (ETFs) are a smart option for many people, as they require much less maintenance than individual stocks yet can still see substantial returns.
While there are many different ETFs to choose from, there are two funds that could potentially turn $100 per week into nearly $800,000 -- with very little effort on your part.
1. Vanguard S&P 500 ETF
The Vanguard S&P 500 ETF (NYSEMKT: VOO) tracks the S&P 500, which means it includes the same stocks as the index itself and aims to mirror its performance over time. The S&P 500 includes stocks from 500 of the largest and most stable companies in the U.S., and by investing in this ETF, you'd own a stake in all of those stocks.
The primary advantage of this ETF is that it's an incredibly safe long-term investment. The S&P 500 itself has not only survived many recessions, bear markets, and crashes over the decades, but it's also earned positive average returns.
If you invest in this ETF, your investment will likely take a hit during periods of volatility. But it's almost guaranteed to recover and go on to see positive returns over time. For those looking for a safe and reliable ETF, you can't go wrong with this one.
Historically, the S&P 500 itself has earned an average annual return of around 10% per year. Because this fund tracks the index, it's likely it will earn similar returns over the long run. If you were investing $100 per week while earning a 10% average annual return, here's approximately how much you could accumulate over time:
NUMBER OF YEARS TOTAL SAVINGS
20 $275,000
25 $472,000
30 $790,000
35 $1,301,000
40 $2,124,000
Data source: Author's calculations via Investor.gov.
Reaching $790,000 in total savings will take approximately 30 years at this rate, but the more time you give your money to grow, the more you'll earn. With an extra decade, you could build a portfolio worth well over $2 million.
One other advantage of this ETF is that it offers a rock-bottom expense ratio of 0.03%. This is one of the lowest among its competitors, which could save you thousands of dollars in fees over time.
2. Vanguard Growth ETF
The Vanguard Growth ETF (NYSEMKT: VUG) is an investment designed to earn above-average returns. It includes 240 stocks from a variety of industries, though about half of the fund is comprised of stocks in the tech sector.
Growth ETFs tend to carry more risk than S&P 500 ETFs, as high-growth companies are often more volatile than their more established counterparts. The tech industry, in particular, is generally hit hard during periods of volatility, so this ETF may see more significant short-term downturns than the previous fund.
That said, this ETF is a strong choice because it balances risk and reward. The top 10 holdings make up roughly half of this fund, and these stocks are behemoth corporations such as Amazon, Apple, Visa, and Home Depot.
The rest of the fund, then, is comprised of up-and-coming stocks with the potential for explosive returns. This approach can limit your risk with the "safe" stocks, while still giving you plenty of room for growth.
Since its inception in 2004, this fund has earned an average rate of return of just under 10% per year. While that may seem low, keep in mind that the tech sector is still struggling amid this downturn, so it's normal to see lower returns in times like these. Over the past 10 years, this ETF has earned an average return of around 13.6% per year.
Even slightly higher-than-average returns can still go a long way. If, for example, you were to invest $100 per week while earning a 12% average annual return, here's roughly how much you'd have over time:
NUMBER OF YEARS TOTAL SAVINGS
20 $346,000
25 $640,000
30 $1,158,000
35 $2,072,000
40 $3,682,000
Source: Author's calculations via Investor.gov.
There are never any promises when investing, so it's unclear exactly what types of returns this fund will earn over decades. This fund is also higher-risk, so be prepared for greater volatility. But because it's designed to earn higher-than-average returns, there's a better chance you'll beat the market with this ETF.
Regardless of where you invest, time is your most valuable resource. The sooner you get started, the easier it will be to generate hundreds of thousands of dollars or more in the stock market.
10 stocks we like better than Vanguard Index Funds-Vanguard Growth ETF
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Vanguard Index Funds-Vanguard Growth ETF 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 April 24, 2023
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Katie Brockman has positions in Vanguard Index Funds-Vanguard Growth ETF and Vanguard S&P 500 ETF. The Motley Fool has positions in and recommends Amazon.com, Apple, Home Depot, Vanguard Index Funds-Vanguard Growth ETF, Vanguard S&P 500 ETF, and Visa. 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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Exchange-traded funds (ETFs) are a smart option for many people, as they require much less maintenance than individual stocks yet can still see substantial returns. The tech industry, in particular, is generally hit hard during periods of volatility, so this ETF may see more significant short-term downturns than the previous fund. The top 10 holdings make up roughly half of this fund, and these stocks are behemoth corporations such as Amazon, Apple, Visa, and Home Depot.
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Vanguard Growth ETF The Vanguard Growth ETF (NYSEMKT: VUG) is an investment designed to earn above-average returns. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Vanguard Index Funds-Vanguard Growth ETF wasn't one of them! The Motley Fool has positions in and recommends Amazon.com, Apple, Home Depot, Vanguard Index Funds-Vanguard Growth ETF, Vanguard S&P 500 ETF, and Visa.
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Vanguard S&P 500 ETF The Vanguard S&P 500 ETF (NYSEMKT: VOO) tracks the S&P 500, which means it includes the same stocks as the index itself and aims to mirror its performance over time. Vanguard Growth ETF The Vanguard Growth ETF (NYSEMKT: VUG) is an investment designed to earn above-average returns. The Motley Fool has positions in and recommends Amazon.com, Apple, Home Depot, Vanguard Index Funds-Vanguard Growth ETF, Vanguard S&P 500 ETF, and Visa.
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If you invest in this ETF, your investment will likely take a hit during periods of volatility. It includes 240 stocks from a variety of industries, though about half of the fund is comprised of stocks in the tech sector. If, for example, you were to invest $100 per week while earning a 12% average annual return, here's roughly how much you'd have over time:
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16094.0
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2023-05-02 00:00:00 UTC
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3 Stocks You Can Confidently Buy After a Market Downturn
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AAPL
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https://www.nasdaq.com/articles/3-stocks-you-can-confidently-buy-after-a-market-downturn-6
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nan
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nan
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Economic headwinds in 2022 led to a sell-off where many of the world's most valuable companies watched their stocks plunge. While uncertainty often causes investors to panic sell, the better option is usually to buy and hold stocks in companies with substantial market shares in high-growth industries. Picking up market-leading stocks in a downturn can massively pay off over the long term once temporary hurdles subside.
Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and Advanced Micro Devices (NASDAQ: AMD) are excellent investment options amid a sell-off. These companies hold dominant positions in their respective industries and give investors a chance to back high-profit sectors such as cloud computing, e-commerce, consumer tech, semiconductors, and more.
Here are three stocks you can confidently buy after a market downturn.
1. Amazon
Last year's sell-off caused Amazon's stock to fall nearly 50%, driven mainly by multiple hits to its e-commerce business. In 2023, unresolved economic challenges continued to hurt the company, with its North America and international segments reporting a combined $2.8 billion in operating losses in the first quarter. Amazon's cloud service, Amazon Web Services (AWS), has managed to keep the company profitable through it all. However, easing inflation could substantially benefit both businesses over the long term.
Steep rises in the cost of living caused reduced spending from consumers and businesses, which has depleted profits in Amazon's e-commerce segments and slowed growth for AWS. However, inflation eased for the ninth consecutive month in March, with prices rising 5%, down from 6% in February and 9.1% in June 2022. The improvement will likely allow consumers to gradually spend more freely, with businesses increasing their budgets for cloud services like AWS.
Analysts seem to agree about the company's potential, as Amazon's 12-month price target of $138 projects stock growth of 30%. Meanwhile, 46 out of 53 analysts give the stock a buy/strong buy rating.
Amazon shares may have tumbled alongside the market, buts its dip could offer substantial gains in the long term.
2. Apple
While Amazon dominates the cloud and e-commerce markets, Apple is leading the way in consumer tech and digital services. The tech giant holds leading market shares in multiple industries, including smartphones, smart watches, headphones, and tablets. With Apple's authority in these markets, its stock climbed 315% over the last five years despite the recent sell-off.
In fact, as seen in the chart below, Apple proved its resiliency amid a downturn last year by being one of the few stocks to outperform the market among some of the biggest names in tech.
Data by YCharts
The iPhone maker's consistent gains over the years made it one of the most reliable stocks to own. As a result, any decline in the market usually signifies a buying opportunity for Apple stock.
The company's earnings are scheduled for release on May 4, with some analysts expecting the company to report a year-over-year decline in revenue. Apple's Q1 2023 (ending Dec. 30, 2022) revealed a revenue decline in three out of four of its product segments as consumers pulled back on discretionary spending. The trend is expected to continue into Q2 2023, which could trigger a sell-off for Apple's stock.
However, the company is unlikely to be down for long. Its market dominance and growth history make it a no-brainer investment after a downturn.
3. Advanced Micro Devices
As a leading chipmaker, AMD likely has a long and fruitful future. Its hardware is crucial to the development of countless industries, which makes it a compelling stock during a market tumble.
The company's chips power data centers worldwide that host cloud giants like Microsoft's Azure and Alphabet's Google Cloud. Meanwhile, it is the exclusive supplier of processing/graphics chips for Sony's PlayStation 5, Microsoft's Xbox Series X|S game consoles, and countless other devices. AMD's powerful chips have led it to partner with behemoths of the tech market, diversifying its business and strengthening earnings over the long term.
AMD's stock plummeted 55% in 2022, suffering from reduced spending in the PC market. However, in the the last year its business blossomed by pivoting to less consumer-reliant segments such as data centers and embedded products. The change potentially set the company on a growth path that will see it flourish long into the future as these technologies continue to develop and increase in demand, profiting from burgeoning markets like artificial intelligence.
AMD's forward price/earnings-to-growth ratio decreased 83% over the last year and currently sits at an attractive 0.1. The figure suggests the company's projected growth is not priced into its stock, making it a bargain buy. With its solid position in multiple booming markets, AMD is a stock you can buy with confidence after a sell-off.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Dani Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, 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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Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and Advanced Micro Devices (NASDAQ: AMD) are excellent investment options amid a sell-off. These companies hold dominant positions in their respective industries and give investors a chance to back high-profit sectors such as cloud computing, e-commerce, consumer tech, semiconductors, and more. Steep rises in the cost of living caused reduced spending from consumers and businesses, which has depleted profits in Amazon's e-commerce segments and slowed growth for AWS.
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Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and Advanced Micro Devices (NASDAQ: AMD) are excellent investment options amid a sell-off. Steep rises in the cost of living caused reduced spending from consumers and businesses, which has depleted profits in Amazon's e-commerce segments and slowed growth for AWS. The tech giant holds leading market shares in multiple industries, including smartphones, smart watches, headphones, and tablets.
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Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and Advanced Micro Devices (NASDAQ: AMD) are excellent investment options amid a sell-off. While uncertainty often causes investors to panic sell, the better option is usually to buy and hold stocks in companies with substantial market shares in high-growth industries. Amazon Last year's sell-off caused Amazon's stock to fall nearly 50%, driven mainly by multiple hits to its e-commerce business.
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Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), and Advanced Micro Devices (NASDAQ: AMD) are excellent investment options amid a sell-off. Apple While Amazon dominates the cloud and e-commerce markets, Apple is leading the way in consumer tech and digital services. However, the company is unlikely to be down for long.
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16095.0
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2023-05-02 00:00:00 UTC
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2 Good Reasons to Buy Apple Stock, and 1 Major Risk to Consider
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AAPL
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https://www.nasdaq.com/articles/2-good-reasons-to-buy-apple-stock-and-1-major-risk-to-consider
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nan
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nan
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Few companies have created more wealth for their long-term investors than Apple (NASDAQ: AAPL). The iPhone maker is one of the most profitable businesses in history, with a staggering $100 billion in net income in fiscal 2022 alone.
Here are two reasons even more profits likely are ahead for Apple and its shareowners -- as well as a key risk that investors need to be mindful of.
1. Apple's ecosystem is becoming stickier
Once people buy an Apple device, they tend to remain loyal customers. This strong user retention is a major reason for the company's success. It generates bountiful recurring revenue, both from repeat device sales and ongoing service subscriptions.
To make its offerings even more sticky, Apple is making a major push into financial services. The technology titan recently unveiled a new high-yield savings account it will offer in partnership with investment bank Goldman Sachs. With a compelling 4.15% annual yield, no minimum deposit or balance requirements, and Federal Deposit Insurance Corporation coverage, Apple's new savings accounts are likely to enjoy high demand from consumers.
An Apple Card is necessary to open an account. Interest in the savings accounts should thus bolster the adoption of Apple's credit card and payment processing service, Apple Pay. Users can also easily deposit the cash rewards they earn from using the Apple Card into these savings accounts. Together, this burgeoning suite of financial products should help to lock Apple's customers into its product and service ecosystem.
2. A massive new growth market awaits
Apple produced $394 billion in revenue in 2022, but it still has plenty of room for expansion. Much of this growth is set to occur in international markets, particularly India.
With more than 1.4 billion people, India is now the world's most populous nation, according to the United Nations. And many of these people are planning to purchase their first Apple device.
Apple already generates nearly $6 billion in annual revenue in India, according to Bloomberg. That's up roughly 50% from the prior year. To help drive those sales even higher, Apple opened its first retail store in the country earlier this month, and it plans to open many more.
The company currently has a relatively small share of India's smartphone market, which is dominated by lower-priced devices. But the growing middle class is showing a propensity to pay up for higher-quality goods. Phones priced above $400 now account for 10% of India's total phone sales, up from 4% prior to the pandemic, according to Counterpoint Research.
All told, Wedbush Securities estimates that Apple's annual sales in India could climb to $20 billion by 2025.
This risk should not be overlooked
Still, an investment in Apple is not without risk. Perhaps the biggest threat to the company's highly lucrative business model is its reliance on China for its manufacturing.
That country's strict COVID-19 lockdowns created supply chain disruptions for Apple, and highlighted the risks posed by the tech company's concentrated production network. China's increasingly aggressive stance toward Taiwan and the potential for conflict in the region create an even more worrisome scenario.
To mitigate these risks, Apple is working to diversify its supply chain. Yet the challenge isn't to just shift production to other countries but to do it in a way that preserves Apple's sky-high profit margins. Fortunately, India has emerged as a possible solution.
Apple currently manufactures about 7% of its iPhones in India, and it plans to increase that figure to 25% in the coming years, according to Piyush Goyal, India's minister of commerce and industry.
Other officials would also like to see that happen. Prime Minister Narendra Modi is spearheading an incentive program to boost production in India, which could make it easier for Apple's manufacturing partners to expand in this fast-growing country.
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*Stock Advisor returns as of April 24, 2023
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Goldman Sachs Group. 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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Few companies have created more wealth for their long-term investors than Apple (NASDAQ: AAPL). The technology titan recently unveiled a new high-yield savings account it will offer in partnership with investment bank Goldman Sachs. That country's strict COVID-19 lockdowns created supply chain disruptions for Apple, and highlighted the risks posed by the tech company's concentrated production network.
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Few companies have created more wealth for their long-term investors than Apple (NASDAQ: AAPL). To make its offerings even more sticky, Apple is making a major push into financial services. Apple already generates nearly $6 billion in annual revenue in India, according to Bloomberg.
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Few companies have created more wealth for their long-term investors than Apple (NASDAQ: AAPL). Apple's ecosystem is becoming stickier Once people buy an Apple device, they tend to remain loyal customers. Interest in the savings accounts should thus bolster the adoption of Apple's credit card and payment processing service, Apple Pay.
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Few companies have created more wealth for their long-term investors than Apple (NASDAQ: AAPL). And many of these people are planning to purchase their first Apple device. Apple already generates nearly $6 billion in annual revenue in India, according to Bloomberg.
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16096.0
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2023-05-02 00:00:00 UTC
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The Zacks Analyst Blog Highlights Apple, FedEx, Marathon Petroleum and Stellantis
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AAPL
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https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-apple-fedex-marathon-petroleum-and-stellantis
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nan
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For Immediate Release
Chicago, IL – May 2, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple AAPL, FedEx FDX, Marathon Petroleum MPC and Stellantis STLA.
Here are highlights from Monday’s Analyst Blog:
Is This the 'Terminal' Fed Hike? Global Week Ahead
In the Global Week Ahead, regular monetary policy meetings held by:
The U.S. Fed
The European Central Bank (ECB), and
Australia's central bank (the RBA) top the agenda
The mega-cap tech company Apple Inc. brings the U.S. Q1 earnings season mostly to an end.
All of this happens as financial markets work through fresh regional banking tremors, brought on by First Republic Bank in San Francisco, CA.
Next are Reuters’ five world market themes, reordered for equity traders—
(1) On Wednesday, One More 25bps Policy Rate Hike from the FOMC?
The Fed is expected to deliver another 25-basis point interest rate increase on Wednesday and signal a pause in its most aggressive rate-hiking cycle since the 1980s.
Policymakers and markets remain at odds over the rates trajectory: The world's top central bank projects borrowing costs to remain at around current levels through 2023, investors are betting on cuts after the summer.
Signs the Fed may be coming around to the market’s view could push Treasury yields lower - in theory benefiting the big mega-cap stocks that led markets higher this year.
Futures markets show investors pricing a nearly 90% chance of a rate increase. But confidence in a 25-basis point rate hike has wavered in recent days after problems at lender First Republic (FRC) reignited concerns over the U.S. banking sector.
(2) On Thursday, Mega-cap Apple Reports Q1 Earnings
The U.S. corporate earnings season reaches a crescendo on Thursday with results from Apple, the largest U.S. company by market value, at $2.6 trillion.
Along with other mega-cap stocks, Apple has led the S&P 500's rally in 2023, giving the company even more heft in indexes.
Apple's over-7% weight in the S&P500 is bigger than the entire energy sector and nearly matches the consumer staples group.
The iPhone maker is expected to post $93 billion in revenue for its fiscal second quarter - a 4.4% drop year-on-year, Refinitiv data shows. Analysts expect a nearly -6% drop in earnings per share to $1.43.
The report from Apple, whose widely used products and services include MacBooks and iPads but also banking, is a gauge for global consumer demand, and its results stand to ripple through markets given its importance to a number of industries.
(3) On Thursday, European Central Bank (ECB) Follows FOMC with Policy Rate Hike
The ECB will likely lift rates for a seventh straight time on May 4th and policymakers appear to be converging on a 25-basis point hike rather than a larger 50-bp increase.
Yet key inflation and bank lending data releases in the days ahead could sway that outcome.
With some stability returning to the banking sector after the March rout, hawks may feel confident pushing for a large hike.
Tuesday's flash April inflation data is likely to confirm underlying price pressures — running above 5% — remains uncomfortably high. Some 2.5 million employees in Germany's public sector will get a 5.5% permanent increase next year, a sign that wage pressures are picking up.
But if bank lending data, also out Tuesday, shows credit conditions have tightened substantially, doves could feel emboldened to push back.
(4) On Tuesday, Reserve Bank of Australia (RBA) Offers Policy Settings
Bets for a return to policy tightening by the Reserve Bank of Australia on Tuesday have fizzled out, after a soft reading of consumer prices added to evidence that inflation peaked at the end of last year.
That has put the Aussie dollar under pressure, keeping it pinned near the closely watched $0.66-mark, even when the greenback wilted against other major peers.
RBA governor Philip Lowe has stressed a pause at the April meeting did not necessarily mean the tightening cycle is over, and minutes showed a hike was hotly debated.
Whether Lowe, whose term ends in September, will be around to oversee further moves is another question.
Speculation is rife that, unlike his two predecessors, he won't be asked to stay on.
(5) U.K. Macro Data Updates on Struggling Economy
The U.K.'s 1970s-style inflation and near-zero growth isn't a good look.
There isn't a credit crunch — yet — according to a recent Bank of England survey. But lenders expect rising defaults on consumer credit, mortgages and corporate loans.
Data on Tuesday will show whether house prices are indeed moderating, and if the decline in mortgage lending is stabilizing. New car sales, which in March hit 18-month highs, will also be under scrutiny.
Brits loaded up on credit card debt at the fastest pace in a 24-month period since early 2006 in February and data from the BoE on Thursday will show how that trend is evolving.
This kind of borrowing isn't cheap. BoE stats show the average interest rate on a UK credit card is 22.5% — its highest since the mid-1990's. And with more rate rises in the pipeline, the pressure is only likely to intensify.
Meanwhile Prime Minister Rishi Sunak faces his first big electoral test on May 4 in local polls where the opposition Labor Party hopes to capitalize on a year of chaos for the governing Conservatives.
Zacks #1 Rank (STRONG BUY) Stocks
Here are three large-cap tech stocks, with Zacks B rating for growth.
(1) FedEx: This is a $226 stock in the Transportation- Air Freight and Cargo space.
It has a market cap of $56.8B. I see a Zacks Value score of B, a Zacks Growth score of D, and a Zacks Momentum score of A.
FedEx Corp. is the leader in global express delivery services.
The company, founded in 1971, provides a broad portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand.
The company is currently reporting, primarily through the FedEx Express, FedEx Ground, and FedEx Freight segments. These segments contributed 49%, 35.5% and 10.2%, respectively, to the company’s total revenues in fiscal 2022.
FedEx is based in Memphis, TN.
(2) Marathon Petroleum: This is a $121 stock. It is found in the Oil and Gas Refining industry.
It has a market cap of $54.1B. I see a Zacks Value score of A, a Zacks Growth score of A, and a Zacks Momentum score of B.
Marathon Petroleum Corp. is a leading independent refiner, transporter and marketer of petroleum products.
The company, in its current form, came into existence following the 2011 spin-off of Houston, TX-based Marathon Oil’s refining/sales business into a separate, independent and publicly-traded entity.
In October 2018, Marathon Oil completed the acquisition of its rival Andeavor in a $23.3 billion deal, thereby becoming the nationwide largest refining company by market capitalization. The deal also made the company the largest U.S. refiner and the fifth largest in the world by capacity.
Marathon is based in Findlay, OH.
(3) Stellantis: This is a $16 stock in the Foreign-Auto space.
It has a market cap of $51.4B. I see a Zacks Value score of A, a Zacks Growth score of B, and a Zacks Momentum score of A.
Stellantis N.V. is an automaker and a mobility provider.
Stellantis N.V., formerly known as Fiat Chrysler Automobiles N.V., is based in Lijnden, Netherlands.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apple Inc. (AAPL) : Free Stock Analysis Report
FedEx Corporation (FDX) : Free Stock Analysis Report
Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report
Stellantis N.V. (STLA) : 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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Stocks recently featured in the blog include: Apple AAPL, FedEx FDX, Marathon Petroleum MPC and Stellantis STLA. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report FedEx Corporation (FDX) : Free Stock Analysis Report Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report Stellantis N.V. (STLA) : Free Stock Analysis Report To read this article on Zacks.com click here. The report from Apple, whose widely used products and services include MacBooks and iPads but also banking, is a gauge for global consumer demand, and its results stand to ripple through markets given its importance to a number of industries.
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Stocks recently featured in the blog include: Apple AAPL, FedEx FDX, Marathon Petroleum MPC and Stellantis STLA. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report FedEx Corporation (FDX) : Free Stock Analysis Report Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report Stellantis N.V. (STLA) : Free Stock Analysis Report To read this article on Zacks.com click here. Global Week Ahead In the Global Week Ahead, regular monetary policy meetings held by: The U.S. Fed The European Central Bank (ECB), and Australia's central bank (the RBA) top the agenda The mega-cap tech company Apple Inc. brings the U.S. Q1 earnings season mostly to an end.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report FedEx Corporation (FDX) : Free Stock Analysis Report Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report Stellantis N.V. (STLA) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks recently featured in the blog include: Apple AAPL, FedEx FDX, Marathon Petroleum MPC and Stellantis STLA. Global Week Ahead In the Global Week Ahead, regular monetary policy meetings held by: The U.S. Fed The European Central Bank (ECB), and Australia's central bank (the RBA) top the agenda The mega-cap tech company Apple Inc. brings the U.S. Q1 earnings season mostly to an end.
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Stocks recently featured in the blog include: Apple AAPL, FedEx FDX, Marathon Petroleum MPC and Stellantis STLA. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report FedEx Corporation (FDX) : Free Stock Analysis Report Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report Stellantis N.V. (STLA) : Free Stock Analysis Report To read this article on Zacks.com click here. Futures markets show investors pricing a nearly 90% chance of a rate increase.
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2023-05-02 00:00:00 UTC
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2 Stocks to Hold for the Next 20 Years
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AAPL
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https://www.nasdaq.com/articles/2-stocks-to-hold-for-the-next-20-years-4
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nan
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There are some companies whose strong brand recognition and consumer loyalty allow you to invest in their stocks with minimal hesitation that it will pay off over the long term. Recent macroeconomic headwinds and market challenges have made it crucial to invest in secure growth stocks like this, with Apple (NASDAQ: AAPL) and Disney (NYSE: DIS) two great options.
These companies are dominating their respective industries with substantial market shares. Apple has spent years at the top of consumer electronics, while Disney is celebrating its 100th year of entertaining the masses in 2023. These companies operate in two never-ending markets, producing commodities that are unlikely to slow in demand anytime soon.
So, here are two stocks to hold for the next 20 years.
1. Apple
This tech behemoth has achieved the largest market cap in the world at $2.7 trillion thanks to its focus on quality products presented in an interconnected ecosystem. Apple's strategy makes it difficult to use competing products that don't offer the same ease of use and connectivity, which has built immense brand loyalty among consumers.
Investor tycoon Warren Buffett said in early April, "If someone offered you $10,000 to never buy an iPhone again, you wouldn't take it." And Buffett's sentiments ring true for many consumers who would have no problem switching brands of vehicles or other appliances but are reluctant to stray from Apple. That level of consumer allegiance is rare and reduces volatility in the company's business and stock.
Moreover, Apple's dominance in consumer tech led it to attract many customers to its swiftly expanding services business. The iPhone manufacturer's library of services includes Apple TV+, Music, iCloud, Arcade, News+, and more. These platforms offer attractive profit margins, hitting 72% in fiscal 2022, while products' profit margins reached 36%. The digital business fortifies Apple's earnings by allowing it to lean less on its product income amid temporary headwinds.
Apple shares soared about 315% in the last five years and over 1,000% in the last decade. The company has a reputation for consistent gains, which makes it a great option to hold over several decades.
2. The Walt Disney Company
Disney has had a challenging few years, to say the least, with the COVID-19 pandemic shuttering its box office and parks businesses for nearly two years. Then, macroeconomic hurdles last year made it costly to develop its streaming business. As a result, the company's shares plunged 44% last year. Disney has partially recovered in 2023, but recent headwinds have been detrimental to its long-term growth, with its stock barely up 1% over the last five years.
However, unavoidable challenges in recent years are unlikely to repeat, making its stock a bargain buy right now. In February, Disney CEO Bob Iger laid out a plan to get the company back on track, targeting $5.5 billion in cost savings, with the majority coming from reductions in content spending. Meanwhile, the company expects to cut about 7,000 jobs by summer, including 15% of its entertainment division. The cuts will likely pay off substantially as Disney strives to achieve profitability with its streaming service, Disney+, by 2024.
Disney shares climbed about 61% over the last decade despite recent hurdles. The company is a king of entertainment, with its monster brand increasing the reliability of its stock.
Additionally, its price/earnings-to-growth ratio of 0.9 suggests that projected growth is not currently priced into its shares. With multiple blockbusters due to premiere this year, budget cuts, and a thriving parks business, that figure aligns with the company's potential. As a result, now is an excellent time to buy Disney stock and enjoy the gains over the next 20 years and beyond.
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 April 24, 2023
Dani Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Walt Disney. The Motley Fool recommends the following options: long January 2024 $145 calls on Walt Disney and short January 2024 $155 calls on Walt Disney. 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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Recent macroeconomic headwinds and market challenges have made it crucial to invest in secure growth stocks like this, with Apple (NASDAQ: AAPL) and Disney (NYSE: DIS) two great options. Apple's strategy makes it difficult to use competing products that don't offer the same ease of use and connectivity, which has built immense brand loyalty among consumers. In February, Disney CEO Bob Iger laid out a plan to get the company back on track, targeting $5.5 billion in cost savings, with the majority coming from reductions in content spending.
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Recent macroeconomic headwinds and market challenges have made it crucial to invest in secure growth stocks like this, with Apple (NASDAQ: AAPL) and Disney (NYSE: DIS) two great options. The Motley Fool has positions in and recommends Apple and Walt Disney. The Motley Fool recommends the following options: long January 2024 $145 calls on Walt Disney and short January 2024 $155 calls on Walt Disney.
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Recent macroeconomic headwinds and market challenges have made it crucial to invest in secure growth stocks like this, with Apple (NASDAQ: AAPL) and Disney (NYSE: DIS) two great options. Apple has spent years at the top of consumer electronics, while Disney is celebrating its 100th year of entertaining the masses in 2023. The Walt Disney Company Disney has had a challenging few years, to say the least, with the COVID-19 pandemic shuttering its box office and parks businesses for nearly two years.
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Recent macroeconomic headwinds and market challenges have made it crucial to invest in secure growth stocks like this, with Apple (NASDAQ: AAPL) and Disney (NYSE: DIS) two great options. So, here are two stocks to hold for the next 20 years. Apple shares soared about 315% in the last five years and over 1,000% in the last decade.
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16098.0
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2023-05-02 00:00:00 UTC
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A Tough Smartphone Market Will Weigh On Qualcomm's Q2 Results
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AAPL
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https://www.nasdaq.com/articles/a-tough-smartphone-market-will-weigh-on-qualcomms-q2-results
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nan
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nan
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Mobile chipset major Qualcomm (NASDAQ: QCOM) is expected to publish its Q2 FY’23 results on May 3, reporting on a quarter that is likely to see the company’s revenue contract meaningfully year-over-year, due to a slowdown in smartphone and tablet sales. We expect revenue for the quarter to come in at about $9.15 billion, marking a decline of about 18% versus last year, although our estimates are marginally ahead of the consensus estimates of $9.1 billion. We project that earnings will come in at about $2.17 per share, slightly ahead of consensus estimates. See our analysis of Qualcomm Earnings Preview for a closer look at what to expect when the company reports earnings.
The smartphone market has been cooling off of late as the tailwinds seen through the Covid-19 pandemic ease and also as economic uncertainty weighs on consumer spending. This is impacting Qualcomm’s CDMA Technologies (QCT) segment, which supplies application processors, modems, and software for technologies for mobile devices, networking equipment, and consumer electronics. Moreover, Qualcomm’s customers have also been holding elevated levels of chip inventory and this could also lead to softer demand for Qualcomm’s chipsets. Over Q1 FY’23, chip sales to the handset space declined by about 18% to $5.8 billion. Qualcomm is also likely to see its technology licensing business cool off, with the company guiding that sales could contract by about 14% at the mid-point for Q2. That said, there could be a couple of bright spots for the company. For example, the automotive and Internet of Things business should continue to gain some traction, while sales of RF front-end components – which include the various components that come between the antenna and modem of a wireless device – are also likely to see gains.
We remain positive on Qualcomm stock despite the current headwinds, with a $147 price estimate which is about 25% ahead of the current market price. See our analysis of Qualcomm Valuation: Expensive Or Cheap? for more details on what’s driving our price estimate for Qualcomm. Qualcomm trades at just about 12.5x consensus 2023 earnings. While this is partly due to the fact that revenues and earnings are projected to decline this year, the markets project that sales will recover in FY’24. Moreover, while Apple is expected to start using its own modem chipsets on its iPhones, transitioning away from Qualcomm’s chips in the next year or so, Qualcomm should be able to compensate for this loss as it expands in other areas such as low-power applications and automotive semiconductors.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Apr 2023
MTD [1] 2023
YTD [1] 2017-23
Total [2]
QCOM Return -8% 6% 79%
S&P 500 Return 1% 9% 86%
Trefis Multi-Strategy Portfolio 1% 9% 242%
[1] Month-to-date and year-to-date as of 4/30/2023
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
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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Mobile chipset major Qualcomm (NASDAQ: QCOM) is expected to publish its Q2 FY’23 results on May 3, reporting on a quarter that is likely to see the company’s revenue contract meaningfully year-over-year, due to a slowdown in smartphone and tablet sales. The smartphone market has been cooling off of late as the tailwinds seen through the Covid-19 pandemic ease and also as economic uncertainty weighs on consumer spending. Qualcomm is also likely to see its technology licensing business cool off, with the company guiding that sales could contract by about 14% at the mid-point for Q2.
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Mobile chipset major Qualcomm (NASDAQ: QCOM) is expected to publish its Q2 FY’23 results on May 3, reporting on a quarter that is likely to see the company’s revenue contract meaningfully year-over-year, due to a slowdown in smartphone and tablet sales. While this is partly due to the fact that revenues and earnings are projected to decline this year, the markets project that sales will recover in FY’24. Total [2] QCOM Return -8% 6% 79% S&P 500 Return 1% 9% 86% Trefis Multi-Strategy Portfolio 1% 9% 242% [1] Month-to-date and year-to-date as of 4/30/2023 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates 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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Mobile chipset major Qualcomm (NASDAQ: QCOM) is expected to publish its Q2 FY’23 results on May 3, reporting on a quarter that is likely to see the company’s revenue contract meaningfully year-over-year, due to a slowdown in smartphone and tablet sales. Moreover, while Apple is expected to start using its own modem chipsets on its iPhones, transitioning away from Qualcomm’s chips in the next year or so, Qualcomm should be able to compensate for this loss as it expands in other areas such as low-power applications and automotive semiconductors. Total [2] QCOM Return -8% 6% 79% S&P 500 Return 1% 9% 86% Trefis Multi-Strategy Portfolio 1% 9% 242% [1] Month-to-date and year-to-date as of 4/30/2023 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates 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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We expect revenue for the quarter to come in at about $9.15 billion, marking a decline of about 18% versus last year, although our estimates are marginally ahead of the consensus estimates of $9.1 billion. See our analysis of Qualcomm Earnings Preview for a closer look at what to expect when the company reports earnings. Total [2] QCOM Return -8% 6% 79% S&P 500 Return 1% 9% 86% Trefis Multi-Strategy Portfolio 1% 9% 242% [1] Month-to-date and year-to-date as of 4/30/2023 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates 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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16099.0
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2023-05-02 00:00:00 UTC
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Apple Earnings: What to Watch
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AAPL
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https://www.nasdaq.com/articles/apple-earnings%3A-what-to-watch-1
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nan
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nan
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This week will be packed with earnings reports from tech companies. But the most high-profile report will be Apple's (NASDAQ: AAPL). The tech giant reports earnings on Thursday. Given its nearly $2.7 trillion market capitalization, its report could have a big influence on the overall market.
Ahead of the iPhone maker's fiscal second-quarter earnings report, here's an overview of its recent performance and some key items to check on after the update goes live.
Declining revenue
For its first quarter of fiscal 2023, Apple's revenue fell 5% year over year to $117.2 billion. Apple CEO Tim Cook said in the company's earnings call for the period that the decline was "a result of the challenging environment ..."
What, exactly, did this challenging environment consist of? One of the main contributors was a huge foreign exchange impact. Foreign exchange rate headwinds negatively impacted the company's year-over-year growth rate by about 800 basis points. Indeed, Apple would have reported year-over-year growth in most of its markets if it excluded this headwind, Cook explained during the call. Sales were also held back by supply chain challenges, which led to production of its new iPhones being substantially lower than planned during the quarter. Finally, management cited "a challenging macroeconomic environment" due to inflation, the war in Ukraine, and lingering impacts from the pandemic.
Given the continued uncertainty in the macroeconomic environment, management said it expected a similar year-over-year growth rate in its revenue in fiscal Q2.
Analyst estimates
Analysts, for the most part, seem to be in agreement with Apple's guidance. On average, they expect the tech company's fiscal Q2 revenue to fall 4.6% year over year -- a growth rate that's not too far from what Apple reported in fiscal Q1. The consensus forecast for Apple's earnings per share is $1.43 -- a 6% year-over-year decline. This year-over-year change would be an improvement from the 10.5% decline in earnings per share Apple saw in fiscal Q1.
Guidance
One number that could really move the stock when Apple reports is management's revenue outlook. The current analyst estimate calls for fiscal Q3 revenue of $84.3 billion. Importantly, this would mark a return to year-over-year growth for the company. While Apple has been avoiding providing a specific guidance figure during its earnings reports recently, it has been providing some commentary about its expectations for the direction of its revenue. During Apple's fiscal Q2earnings call look for the company to say it expects its revenue to return to growth in fiscal Q3.
Apple's capital return program
Finally, Apple typically uses its fiscal Q2 update to authorize more capital for share repurchases and to announce a dividend increase. Last year, Apple boosted its dividend by 5% and authorized an additional $90 billion for share repurchases. Shareholders are likely hoping Apple announces another significant increase to its share-repurchase authorization and another dividend increase.
The tech giant is scheduled to report its fiscal Q2 results after market close on Thursday, May 4. Investors will be able to find the earnings release on Apple's investor relations website.
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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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But the most high-profile report will be Apple's (NASDAQ: AAPL). Ahead of the iPhone maker's fiscal second-quarter earnings report, here's an overview of its recent performance and some key items to check on after the update goes live. Sales were also held back by supply chain challenges, which led to production of its new iPhones being substantially lower than planned during the quarter.
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But the most high-profile report will be Apple's (NASDAQ: AAPL). Foreign exchange rate headwinds negatively impacted the company's year-over-year growth rate by about 800 basis points. On average, they expect the tech company's fiscal Q2 revenue to fall 4.6% year over year -- a growth rate that's not too far from what Apple reported in fiscal Q1.
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But the most high-profile report will be Apple's (NASDAQ: AAPL). On average, they expect the tech company's fiscal Q2 revenue to fall 4.6% year over year -- a growth rate that's not too far from what Apple reported in fiscal Q1. During Apple's fiscal Q2earnings call look for the company to say it expects its revenue to return to growth in fiscal Q3.
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But the most high-profile report will be Apple's (NASDAQ: AAPL). Given the continued uncertainty in the macroeconomic environment, management said it expected a similar year-over-year growth rate in its revenue in fiscal Q2. On average, they expect the tech company's fiscal Q2 revenue to fall 4.6% year over year -- a growth rate that's not too far from what Apple reported in fiscal Q1.
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