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18200.0
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2022-12-01 00:00:00 UTC
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Should SPDR Portfolio S&P 500 ETF (SPLG) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-spdr-portfolio-sp-500-etf-splg-be-on-your-investing-radar-5
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The SPDR Portfolio S&P 500 ETF (SPLG) was launched on 11/08/2005, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
The fund is sponsored by State Street Global Advisors. It has amassed assets over $15.86 billion, making it one of the largest ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Companies that find themselves in the large cap category typically have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.
Typically holding a combination of both growth and value stocks, blend ETFs also demonstrate qualities seen in value and growth investments.
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 0.03%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 1.58%.
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 26.50% of the portfolio. Healthcare and Financials round out the top three.
Looking at individual holdings, Apple Inc. (AAPL) accounts for about 7.37% of total assets, followed by Microsoft Corporation (MSFT) and Amazon.com Inc. (AMZN).
The top 10 holdings account for about 26.77% of total assets under management.
Performance and Risk
SPLG seeks to match the performance of the Russell 1000 Index before fees and expenses. The S&P 500 Index is designed to measure the performance of the large-capitalization segment of the U.S. equity market.
The ETF has lost about -13.77% so far this year and is down about -9.25% in the last one year (as of 12/01/2022). In the past 52-week period, it has traded between $41.93 and $56.19.
The ETF has a beta of 1 and standard deviation of 25.14% for the trailing three-year period. With about 506 holdings, it effectively diversifies company-specific risk.
Alternatives
SPDR Portfolio S&P 500 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, SPLG 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 $311.12 billion in assets, SPDR S&P 500 ETF has $388.14 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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
SPDR Portfolio S&P 500 ETF (SPLG): 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 7.37% of total assets, followed by Microsoft Corporation (MSFT) and Amazon.com Inc. (AMZN). Click to get this free report SPDR Portfolio S&P 500 ETF (SPLG): ETF Research Reports Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. The SPDR Portfolio S&P 500 ETF (SPLG) was launched on 11/08/2005, 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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Looking at individual holdings, Apple Inc. (AAPL) accounts for about 7.37% of total assets, followed by Microsoft Corporation (MSFT) and Amazon.com Inc. (AMZN). Click to get this free report SPDR Portfolio S&P 500 ETF (SPLG): ETF Research Reports Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. The SPDR Portfolio S&P 500 ETF (SPLG) was launched on 11/08/2005, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
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Click to get this free report SPDR Portfolio S&P 500 ETF (SPLG): 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 7.37% of total assets, followed by Microsoft Corporation (MSFT) and Amazon.com Inc. (AMZN). Alternatives SPDR Portfolio S&P 500 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 7.37% of total assets, followed by Microsoft Corporation (MSFT) and Amazon.com Inc. (AMZN). Click to get this free report SPDR Portfolio S&P 500 ETF (SPLG): 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. Costs Investors should also pay attention to an ETF's expense ratio.
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18201.0
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2022-12-01 00:00:00 UTC
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Apple Has Another Stealthy Path Into This $4 Trillion Market
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AAPL
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https://www.nasdaq.com/articles/apple-has-another-stealthy-path-into-this-%244-trillion-market
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nan
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Apple (NASDAQ: AAPL) has made no secret about its healthcare market aspirations and has made steady inroads into the space over the past several years. Numerous features on the Apple Watch are geared toward health and fitness. The device boasts a heart rate sensor that can also administer an electrocardiogram (ECG) and detect an abnormal heart rhythm, alerting the wearer to a potentially life-threatening condition. Both the iPhone and the Apple Watch can detect when the user has fallen or has been in a car accident. The iPhone can also store a variety of patient medical records.
Now, another Apple product is helping the company along its path into the massive healthcare market.
Image source: Apple.
Can you hear me now?
An estimated 30 million people in the U.S. are afflicted with hearing loss. That amounts to roughly 15% of the population suffering from the condition -- and most don't wear a hearing aid. In fact, as many as half of people over 75 years or older will develop a disabling hearing loss. Yet as many as 75% of those with the condition don't use a hearing aid. Why so few?
The devices can be expensive and require ongoing visits to a hearing specialist. Additionally, patients complain that many hearing aids are uncomfortable and don't fit well. There's also a social stigma associated with hearing loss, as people fear they will be seen as old. Enter the Apple AirPods.
An Apple a day
Scientists in Taiwan conducted a groundbreaking study to determine if AirPods could aid people with difficulty hearing. In a clinical study of 21 patients, researchers at the Taipei Veterans General Hospital tested Apple's Live Listen feature, which is available on the iPhone when paired with AirPods or Beats headphones. Live Listen "can act like a microphone" and "can help you hear a conversation in a noisy area or even hear someone speaking across the room," according to Apple.
In the study published in the medical journal iScience, researchers read a short sentence to patients under various conditions. These included unaided (nothing in their ears), using a basic hearing aid, a premium hearing aid, AirPods 2, and AirPods Pro.
The research found that the AirPods Pro performed as well as a basic hearing aid in quieter situations, only slightly less effective than the premium models. In a noisier environment, AirPods Pro performed as well as premium medical devices, though the researchers noted some limitations. The AirPods Pro performed best if the sound came from the listener's side, but they weren't as effective if the sound originated directly in front of the user.
Furthermore -- and perhaps more importantly -- the AirPods Pro also met four of the five electroacoustic standards required by the U.S. government in order for a device to be called a "hearing aid." It would only take some tweaks to the decibel level to achieve the fifth standard, meaning AirPods Pro paired with an iPhone could meet the criteria to serve as a government-sanctioned hearing aid.
Then there's the cost factor. Premium hearing aids cost roughly $10,000, while more basic models run about $1,500. Compare that to the cost of AirPods Pro -- which cost $249 -- and the advantage is clear. Given the ubiquity of the iPhone and the affordability of AirPods, it isn't a stretch to envision a future where Apple dominates the hearing aid market.
Another multibillion-dollar market
While estimates vary, according to Precedence Research, the global hearing aid market was valued at roughly $11 billion last year and is expected to grow to $19.5 billion by 2030. For context, Apple generated sales of more than $90 billion in its 2022 fiscal fourth quarter (ended Sep. 24), so it won't move the needle for the tech giant or its investors -- at least not on its own.
Furthermore, this study had a small sample size, but this could ultimately lead to much more comprehensive research. There's still a way to go before iPhone users can officially use AirPods Pro as a hearing aid, but it suggests yet another stealthy way Apple could grow its slice of the nearly $4 trillion spent every year on healthcare in the U.S.
10 stocks we like better than Apple
When our award-winning 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 November 7, 2022
Danny Vena has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Apple (NASDAQ: AAPL) has made no secret about its healthcare market aspirations and has made steady inroads into the space over the past several years. In a clinical study of 21 patients, researchers at the Taipei Veterans General Hospital tested Apple's Live Listen feature, which is available on the iPhone when paired with AirPods or Beats headphones. It would only take some tweaks to the decibel level to achieve the fifth standard, meaning AirPods Pro paired with an iPhone could meet the criteria to serve as a government-sanctioned hearing aid.
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Apple (NASDAQ: AAPL) has made no secret about its healthcare market aspirations and has made steady inroads into the space over the past several years. These included unaided (nothing in their ears), using a basic hearing aid, a premium hearing aid, AirPods 2, and AirPods Pro. Premium hearing aids cost roughly $10,000, while more basic models run about $1,500.
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Apple (NASDAQ: AAPL) has made no secret about its healthcare market aspirations and has made steady inroads into the space over the past several years. These included unaided (nothing in their ears), using a basic hearing aid, a premium hearing aid, AirPods 2, and AirPods Pro. Given the ubiquity of the iPhone and the affordability of AirPods, it isn't a stretch to envision a future where Apple dominates the hearing aid market.
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Apple (NASDAQ: AAPL) has made no secret about its healthcare market aspirations and has made steady inroads into the space over the past several years. Can you hear me now? Yet as many as 75% of those with the condition don't use a hearing aid.
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18202.0
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2022-12-01 00:00:00 UTC
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GLOBAL ECONOMY-Asia's factory activity shrinks as China lockdown impact widens
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AAPL
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https://www.nasdaq.com/articles/global-economy-asias-factory-activity-shrinks-as-china-lockdown-impact-widens-0
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nan
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By Leika Kihara
TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday.
The results highlighted Asia's darkening economic outlook for 2023, as the lockdowns disrupt international supply and heighten fears of a further slump in its economy, the world's second-largest.
Amid the pandemic curbs, China's factory activity shrank in November, a private survey showed on Thursday. The result implied weaker employment and economic growth in the fourth quarter.
Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global demand and stubbornly high input costs, surveys showed.
"Cooling market conditions, sustained cost pressures and weak underlying demand, both domestically and internationally, were reportedly pivotal factors contributing to the declines," said economist Laura Denman at S&P Global Market Intelligence, which compiles the survey on Japan.
China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) stood at 49.4 in November, up from 49.2 in the previous month but still below the 50 mark, which separates growth from contraction. It has now been below 50 for four consecutive months.
The figure followed downbeat data in an official survey on Wednesday that showed manufacturing activity had hit a seven-month low in November.
Japan's au Jibun Bank PMI also fell, to 49.0 in November from October's 50.7. That was the first contraction since November 2020.
South Korea's factory activity shrank for a fifth straight month in November but the downturn moderated slightly, possibly suggesting the worst was over for businesses.
Still, South Korea's exports in November suffered their steepest annual drop in 2-1/2 years, separate data showed on Thursday, hit by cooling global demand in major markets led by China and a downturn in the semiconductor industry.
Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. They have also stoked rare street protests across many cities.
The impact of China's woes was felt widely across Asia. Taiwan's PMI stood at 41.6 in November, up slightly from 41.5 in October but remaining far below the 50 mark.
Vietnam's PMI fell to 47.4 in November from 50.6 in October, while that for Indonesia slid to 50.3 from 51.8, the private surveys showed.
In a rare bright sign, India saw factory activity expand in November at its fastest pace in three months, thanks to robust demand for consumer goods and a slowdown in input-cost inflation.
(Reporting by Leika Kihara; Editing by Bradley Perrett)
((leika.kihara@thomsonreuters.com; +813-6441-1828; Reuters Messaging: leika.kihara.reuters.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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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global demand and stubbornly high input costs, surveys showed.
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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Amid the pandemic curbs, China's factory activity shrank in November, a private survey showed on Thursday.
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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) stood at 49.4 in November, up from 49.2 in the previous month but still below the 50 mark, which separates growth from contraction.
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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global demand and stubbornly high input costs, surveys showed.
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18203.0
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2022-12-01 00:00:00 UTC
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Got $2,000? Two Tech Stocks to Buy and Hold for the Long Term
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AAPL
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https://www.nasdaq.com/articles/got-%242000-two-tech-stocks-to-buy-and-hold-for-the-long-term
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nan
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nan
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A lot of investors will be happy to say good riddance to 2022 in another month, particularly those who invested in tech stocks. After a 14-year-long bull market, the tech-laden Nasdaq-100 is still down over 28% year to date with a firm grasp on a bear market correction.
While the Dow Jones Industrial Average has clawed its way back to near breakeven (it's down 5% as of this writing), tech stocks are still in a funk. As disappointing and painful as that is, it also represents an opportunity because many of the top names in the space have been beaten down -- and not necessarily unfairly. There have been problems with the businesses that indicated the stocks didn't warrant trading at inflated values, since they were no longer on the same growth trajectory.
Yet it's also not fatal to their long-term performance, so the new, cheaper valuations are a chance to buy these otherwise good companies at a price not seen in a while.
Image source: Getty Images.
If you've been keeping some powder dry for just such a moment -- and really you should always have some cash available to take advantage of market mispricings like this -- then you might want to consider the following pair of stocks that are now sporting discounts.
With $2,000 waiting to be deployed, you could start or add to positions in Apple (NASDAQ: AAPL) and Shopify (NYSE: SHOP).
Apple
Apple stock is down about 20% from its 52-week high, and there's the distinct possibility it could go lower as China's zero-COVID policies are causing protests in the country.
Workers at Apple's iPhone factory in China that's operated by Foxconn were seen rioting over workplace conditions due to a COVID-19 outbreak, and clashes with police have spread into many major cities as the government orders citizens to remain indoors.
It's quite possible Apple will experience iPhone shortages that cause the tech giant to miss its earnings numbers next quarter. Bloomberg reports that Apple could fall 6 million iPhone Pro units short from production losses as a result, at a time when sales were seemingly softening. Although iPhone revenue was $14.6 billion last quarter, it missed analyst expectations, as did iPad sales, though Mac and wearables revenue was markedly higher.
Services, of course, is expected to be where Apple's future growth comes from and the tech leader said paid subscriptions across all of its platforms soared by 155 million in the quarter to 900 million. It's also noteworthy that Apple remains Warren Buffett's biggest holding in Berkshire Hathaway.
A dollar-cost averaging strategy would be useful with Apple as it would allow you to benefit if there's further weakness in the stock as a result of the foregoing, but still having a stake should Apple prove more resilient than expected as has occurred many times before.
Image source: Getty Images.
Shopify
Online e-commerce platform provider Shopify has lost more than three-quarters of its value as the boost from the pandemic faded to the background. Yet Adobe says U.S. consumers spent a record $9.1 billion online on Black Friday, and Shopify said its sales for the day grew 19% year over year to a record $3.4 billion on a currency neutral basis. At its peak, Shopify was seeing sales of $3.5 million a minute, showing retail is not dead yet -- at least not online.
Cyber Monday was another big day, and Shopify said its Friday-to-Monday sales total hit a record $7.5 billion, up 21% from last year on a constant currency basis.
Shopify has transformed from simply being a tool merchants can use to have an online presence to a provider of a suite of tools that are helping its customers manage through the current environment.
With plenty of cash and short-term investments available ($4.9 billion at the end of last quarter), Shopify can easily survive any short-term headwinds. E-commerce will continue growing into the preferred shopping channel, pointing to the platform provider having a long runway of growth still before it.
10 stocks we like better than Apple
When our award-winning 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 November 7, 2022
Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Adobe Inc., Apple, Berkshire Hathaway (B shares), and Shopify. The Motley Fool recommends the following options: long January 2023 $1,140 calls on Shopify, long January 2023 $200 calls on Berkshire Hathaway (B shares), long January 2024 $420 calls on Adobe Inc., long March 2023 $120 calls on Apple, short January 2023 $1,160 calls on Shopify, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), short January 2024 $430 calls on Adobe Inc., and short March 2023 $130 calls on 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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With $2,000 waiting to be deployed, you could start or add to positions in Apple (NASDAQ: AAPL) and Shopify (NYSE: SHOP). Workers at Apple's iPhone factory in China that's operated by Foxconn were seen rioting over workplace conditions due to a COVID-19 outbreak, and clashes with police have spread into many major cities as the government orders citizens to remain indoors. Bloomberg reports that Apple could fall 6 million iPhone Pro units short from production losses as a result, at a time when sales were seemingly softening.
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With $2,000 waiting to be deployed, you could start or add to positions in Apple (NASDAQ: AAPL) and Shopify (NYSE: SHOP). Shopify Online e-commerce platform provider Shopify has lost more than three-quarters of its value as the boost from the pandemic faded to the background. The Motley Fool has positions in and recommends Adobe Inc., Apple, Berkshire Hathaway (B shares), and Shopify.
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With $2,000 waiting to be deployed, you could start or add to positions in Apple (NASDAQ: AAPL) and Shopify (NYSE: SHOP). A dollar-cost averaging strategy would be useful with Apple as it would allow you to benefit if there's further weakness in the stock as a result of the foregoing, but still having a stake should Apple prove more resilient than expected as has occurred many times before. 10 stocks we like better than Apple When our award-winning analyst team has a stock tip, it can pay to listen.
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With $2,000 waiting to be deployed, you could start or add to positions in Apple (NASDAQ: AAPL) and Shopify (NYSE: SHOP). * 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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18204.0
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2022-12-01 00:00:00 UTC
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Is The Worst Performing FAANG Stock of 2022 a Buy?
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AAPL
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https://www.nasdaq.com/articles/is-the-worst-performing-faang-stock-of-2022-a-buy
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nan
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nan
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The tech-centric Nasdaq Composite is home to hundreds of corporations, but few are as prominent as those sometimes referred to by the acronym "FAANG." This group includes several major companies, including Facebook parent Meta Platforms (NASDAQ: META), Apple, Amazon, Netflix, and Google parent Alphabet. Despite their prominence, these high-flying companies haven't escaped the recent sell-off.
The worst performing of these stocks this year has been Meta Platforms. The social media specialist certainly has seen better days, but is a rebound in the cards for the company?
META data by YCharts.
Meta Platforms is facing severe headwinds
Let's consider why Meta Platforms performed so poorly this year, starting with the company's main source of revenue, advertising. A challenging economic environment, marked by high inflation, saw consumers spending less and businesses decreasing their ad budgets.
Further, tough competition from the abundance of social media options where businesses can run ads isn't making things easier. The result has been lower sales for companies like Meta Platforms that rely heavily on advertising. The tech-giant's revenue of $84.4 billion increased by less than 1% year over year in the first nine months of 2022.
While revenue is barely growing for the company, costs and expenses are rising much faster -- to the tune of 23.6%, to $61.9 billion in the nine months ending Sept. 30. Naturally, the result is a lower bottom line for Meta Platforms. The company's net earnings per share dropped to $6.82 for this period, down from $10.11.
Meta Platforms might continue to struggle unless it can find better ways to navigate these challenging headwinds or until economic conditions improve.
Opportunities for growth
Despite the obstacles, there are excellent reasons to remain bullish on Meta Platforms. It's difficult to ignore the company's massive user base, with 3.71 billion monthly active people (MAP) across its family of websites and apps. Meta Platforms' MAP increased by 4% year over year in the third quarter.
No matter how long it takes, the advertising industry will recover eventually, and once it does, Meta's revenue growth should pick up.
It's also worth noting that the company has yet to fully monetize some of its apps, especially WhatsApp. It's working on that very project as we speak.
CEO Mark Zuckerberg recently spoke of two monetizing opportunities that are taking shape on WhatsApp. The first is click-to-messaging ads. The feature allows businesses to communicate directly with customers via messaging threads on Facebook Messenger, WhatsApp, or Instagram Direct while running ad campaigns on Facebook or Instagram.
According to Zuckerberg, this option is one of the company's fastest-growing ad products, with a $9 billion annual run rate -- including a $1.5 billion run rate on WhatsApp, where Meta introduced the feature later than it did on Messenger. The company also introduced paid messaging on WhatsApp, a feature that it says is also growing rapidly.
Meta Platforms is still in the early innings of these monetization opportunities. In the coming years, investors should expect WhatsApp to contribute even more to the company's top line.
Meta is also looking to compete with apps like TikTok with Facebook and Instagram reels, which boast a run rate of $3 billion across both platforms.
Of course, Meta is still heavily investing in its metaverse ambitions. Although unlikely to pay off soon, they could eventually represent a massive $1 trillion opportunity. Meta Platforms' solid ecosystem would allow it to be one of the leaders in this space.
Buy while shares are down
The most important thing to remember is that Meta Platforms still has plenty of opportunities to squeeze more money out of its billions of users. The company could also make a dent in e-commerce, for instance.
That, combined with the rebound that the advertising industry will eventually experience, should give investors plenty of hope for the future. What makes the deal even better is that Meta Platforms' shares are currently looking about as attractive as they have in some time.
META PE Ratio (Forward) data by YCharts.
At current levels, investors can safely acquire shares of Meta Platforms and hold onto them for a while.
10 stocks we like better than Meta Platforms, Inc.
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John Mackey, 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. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Prosper Junior Bakiny has positions in Amazon and Meta Platforms, Inc. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Meta Platforms, Inc., and Netflix. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Further, tough competition from the abundance of social media options where businesses can run ads isn't making things easier. It's difficult to ignore the company's massive user base, with 3.71 billion monthly active people (MAP) across its family of websites and apps. Buy while shares are down The most important thing to remember is that Meta Platforms still has plenty of opportunities to squeeze more money out of its billions of users.
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This group includes several major companies, including Facebook parent Meta Platforms (NASDAQ: META), Apple, Amazon, Netflix, and Google parent Alphabet. According to Zuckerberg, this option is one of the company's fastest-growing ad products, with a $9 billion annual run rate -- including a $1.5 billion run rate on WhatsApp, where Meta introduced the feature later than it did on Messenger. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Meta Platforms, Inc., and Netflix.
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This group includes several major companies, including Facebook parent Meta Platforms (NASDAQ: META), Apple, Amazon, Netflix, and Google parent Alphabet. Meta Platforms is facing severe headwinds Let's consider why Meta Platforms performed so poorly this year, starting with the company's main source of revenue, advertising. According to Zuckerberg, this option is one of the company's fastest-growing ad products, with a $9 billion annual run rate -- including a $1.5 billion run rate on WhatsApp, where Meta introduced the feature later than it did on Messenger.
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Further, tough competition from the abundance of social media options where businesses can run ads isn't making things easier. It's difficult to ignore the company's massive user base, with 3.71 billion monthly active people (MAP) across its family of websites and apps. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Meta Platforms, Inc., and Netflix.
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18205.0
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2022-12-01 00:00:00 UTC
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GLOBAL ECONOMY-Asia's factory activity shrinks as China lockdown impact widens
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AAPL
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https://www.nasdaq.com/articles/global-economy-asias-factory-activity-shrinks-as-china-lockdown-impact-widens-1
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By Leika Kihara
TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday.
The results highlighted Asia's darkening economic outlook for 2023, as the lockdowns disrupt international supply and heighten fears of a further slump in its economy, the world's second-largest.
Amid the pandemic curbs, China's factory activity shrank in November, a private survey showed on Thursday. The result implied weaker employment and economic growth in the fourth quarter.
Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global demand and stubbornly high input costs, surveys showed.
"Cooling market conditions, sustained cost pressures and weak underlying demand, both domestically and internationally, were reportedly pivotal factors contributing to the declines," said economist Laura Denman at S&P Global Market Intelligence, which compiles the survey on Japan.
China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) stood at 49.4 in November, up from 49.2 in the previous month but still below the 50 mark, which separates growth from contraction. It has now been below 50 for four consecutive months.
The figure followed downbeat data in an official survey on Wednesday that showed manufacturing activity had hit a seven-month low in November.
Analysts see mounting downside risks to China's economic growth in the fourth quarter, despite a flurry of policies to shore up activity, including cuts to banks' required reserve ratios and support for the sluggish property sector.
Japan's au Jibun Bank PMI also fell, to 49.0 in November from October's 50.7. That was the first contraction since November 2020.
South Korea's factory activity shrank for a fifth straight month in November but the downturn moderated slightly, possibly suggesting the worst was over for businesses.
Still, South Korea's exports in November suffered their steepest annual drop in 2-1/2 years, separate data showed on Thursday, hit by cooling global demand in major markets led by China and a downturn in the semiconductor industry.
Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. They have also stoked rare street protests across many cities.
The impact of China's woes was felt widely across Asia. Taiwan's PMI stood at 41.6 in November, up slightly from 41.5 in October but remaining far below the 50 mark.
Vietnam's PMI fell to 47.4 in November from 50.6 in October, while that for Indonesia slid to 50.3 from 51.8, the private surveys showed.
In a rare bright sign, India saw factory activity expand in November at its fastest pace in three months, thanks to robust demand for consumer goods and a slowdown in input-cost inflation.
(Reporting by Leika Kihara; Editing by Bradley Perrett)
((leika.kihara@thomsonreuters.com; +813-6441-1828; Reuters Messaging: leika.kihara.reuters.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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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global demand and stubbornly high input costs, surveys showed.
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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Amid the pandemic curbs, China's factory activity shrank in November, a private survey showed on Thursday.
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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Amid the pandemic curbs, China's factory activity shrank in November, a private survey showed on Thursday.
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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global demand and stubbornly high input costs, surveys showed.
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18206.0
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2022-12-01 00:00:00 UTC
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TSMC plans to make more advanced chips in US on Apple's push - Bloomberg News
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AAPL
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https://www.nasdaq.com/articles/tsmc-plans-to-make-more-advanced-chips-in-us-on-apples-push-bloomberg-news
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nan
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Adds response from TSMC
Dec 1 (Reuters) - Taiwan Semiconductor Manufacturing Co 2330.TW will offer advanced 4-nanometer chips when its new $12-billion plant in Arizona opens in 2024, spurred by U.S. customers including Apple Inc AAPL.O to do so, Bloomberg News reported on Thursday.
TSMC is expected to announce the new plan when U.S. President Joe Biden and Commerce Secretary Gina Raimondo visit Phoenix for a ceremony next Tuesday, according to the report, citing people familiar with the matter.
TSMC previously said it would make 20,000 wafers per month at the Arizona facility but the production may increase from those original plans, the report said. Apple will use about a third of the output as production gets underway, it added.
The report said in addition to Apple, TSMC customers including Advanced Micro Devices Inc AMD.O and Nvidia Corp NVDA.O have also asked TSMC to make more sophisticated chips at the Arizona plant.
TSMC's customers have asked the company to roll out its latest technologies simultaneously in the United States and Taiwan, the report added.
TSMC declined to comment, while Apple, AMD and Nvidia did not immediately respond to Reuters' requests for comment.
Last week, TSMC founder Morris Chang said the company was planning to produce chips with advanced 3-nanometre technology in Arizona, but added that the plans were not yet finalised.
(Reporting by Urvi Dugar in Bengaluru; Editing by Clarence Fernandez and Rashmi Aich)
((UrviManoj.Dugar@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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Adds response from TSMC Dec 1 (Reuters) - Taiwan Semiconductor Manufacturing Co 2330.TW will offer advanced 4-nanometer chips when its new $12-billion plant in Arizona opens in 2024, spurred by U.S. customers including Apple Inc AAPL.O to do so, Bloomberg News reported on Thursday. TSMC is expected to announce the new plan when U.S. President Joe Biden and Commerce Secretary Gina Raimondo visit Phoenix for a ceremony next Tuesday, according to the report, citing people familiar with the matter. TSMC's customers have asked the company to roll out its latest technologies simultaneously in the United States and Taiwan, the report added.
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Adds response from TSMC Dec 1 (Reuters) - Taiwan Semiconductor Manufacturing Co 2330.TW will offer advanced 4-nanometer chips when its new $12-billion plant in Arizona opens in 2024, spurred by U.S. customers including Apple Inc AAPL.O to do so, Bloomberg News reported on Thursday. The report said in addition to Apple, TSMC customers including Advanced Micro Devices Inc AMD.O and Nvidia Corp NVDA.O have also asked TSMC to make more sophisticated chips at the Arizona plant. Last week, TSMC founder Morris Chang said the company was planning to produce chips with advanced 3-nanometre technology in Arizona, but added that the plans were not yet finalised.
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Adds response from TSMC Dec 1 (Reuters) - Taiwan Semiconductor Manufacturing Co 2330.TW will offer advanced 4-nanometer chips when its new $12-billion plant in Arizona opens in 2024, spurred by U.S. customers including Apple Inc AAPL.O to do so, Bloomberg News reported on Thursday. The report said in addition to Apple, TSMC customers including Advanced Micro Devices Inc AMD.O and Nvidia Corp NVDA.O have also asked TSMC to make more sophisticated chips at the Arizona plant. Last week, TSMC founder Morris Chang said the company was planning to produce chips with advanced 3-nanometre technology in Arizona, but added that the plans were not yet finalised.
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Adds response from TSMC Dec 1 (Reuters) - Taiwan Semiconductor Manufacturing Co 2330.TW will offer advanced 4-nanometer chips when its new $12-billion plant in Arizona opens in 2024, spurred by U.S. customers including Apple Inc AAPL.O to do so, Bloomberg News reported on Thursday. TSMC is expected to announce the new plan when U.S. President Joe Biden and Commerce Secretary Gina Raimondo visit Phoenix for a ceremony next Tuesday, according to the report, citing people familiar with the matter. The report said in addition to Apple, TSMC customers including Advanced Micro Devices Inc AMD.O and Nvidia Corp NVDA.O have also asked TSMC to make more sophisticated chips at the Arizona plant.
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18207.0
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2022-11-30 00:00:00 UTC
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US STOCKS-Wall Street rallies after Powell eyes slower rate hikes
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https://www.nasdaq.com/articles/us-stocks-wall-street-rallies-after-powell-eyes-slower-rate-hikes
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By Noel Randewich and Shreyashi Sanyal
Nov 30 (Reuters) - Wall Street jumped on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December.
The S&P 500 rallied from an earlier loss and the Nasdaq extended gains after the release of Powell's remarks prepared for delivery at the Brookings Institution think tank in Washington.
Powell also cautioned that the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long.
"(The market) has waited with bated breath, looking for that clarification in terms of duration and extent of Fed tightening. And anything that gives hope to the idea the Fed is becoming less hawkish is viewed as a positive for stocks, at least on a short-term basis," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.
Bets that the Fed will reduce the size of its rate hikes, as well as recent data pointing to a mild cooling in inflation, have the benchmark S&P 500 index .SPX on track for its second straight month of gains.
The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
The S&P 500 remains down about 16% so far in 2022, while the Nasdaq index .IXIC has lost about 29%.
In afternoon trading, Apple AAPL.O was up 3.4% and Nvidia NVDA.O jumped 5.5%.
Tesla Inc's TSLA.Oshares surged 5.4%, after China Merchants Bank International said Tesla's sales in China in November were boosted by price cuts and incentives offered on its Model 3 and Model Y.
Data on the day was mixed as the ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
"The ADP employment number not meeting expectations fits into the narrative that the Fed will have room and start slowing down its rate hikes, and that definitely benefits interest rate sensitive assets," said Keith Buchanan, a portfolio manager at Globalt in Atlanta.
The Labor Department's closely watched nonfarm payrolls data is due on Friday. A report showed U.S. job openings falling to 10.334 million in October, against 10.687 million in the prior month.
Another reading showed the U.S. economy rebounded more strongly than initially thought in the third quarter.
The S&P 500 was up 1.71% at 4,025.14 points.
The Nasdaq gained 2.87% to 11,298.98 points, while the Dow Jones Industrial Average was up 0.93% at 34,166.10 points.
Biogen Inc BIIB.Ojumped 4.6% after its experimental Alzheimer's drug slowed cognitive decline in a closely watched trial.
Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 1.5-to-one ratio.
The S&P 500 posted 6 new highs and 1 new lows; the Nasdaq recorded 61 new highs and 144 new lows.
(Reporting by Shreyashi Sanyal, Devik Jain & Bansari Mayur Kamdar in Bengaluru, and by Noel Randewich in Oakland, Calif.; additional reporting by Stephen Culp in New York; Editing by Shounak Dasgupta, Chizu Nomiyama and Diane Craft)
((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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In afternoon trading, Apple AAPL.O was up 3.4% and Nvidia NVDA.O jumped 5.5%. By Noel Randewich and Shreyashi Sanyal Nov 30 (Reuters) - Wall Street jumped on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December. And anything that gives hope to the idea the Fed is becoming less hawkish is viewed as a positive for stocks, at least on a short-term basis," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.
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In afternoon trading, Apple AAPL.O was up 3.4% and Nvidia NVDA.O jumped 5.5%. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
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In afternoon trading, Apple AAPL.O was up 3.4% and Nvidia NVDA.O jumped 5.5%. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. Data on the day was mixed as the ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
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In afternoon trading, Apple AAPL.O was up 3.4% and Nvidia NVDA.O jumped 5.5%. Powell also cautioned that the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released.
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18208.0
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2022-11-30 00:00:00 UTC
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Taiwan's Foxconn slowly checks into iPhone detox
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https://www.nasdaq.com/articles/taiwans-foxconn-slowly-checks-into-iphone-detox
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Reuters
Reuters
HONG KONG (Reuters Breakingviews) - Covid-19 lockdowns and protests across China have highlighted the risks of the mutual dependence between Taiwan's Foxconn and its top customer Apple. Even before the recent supply chain disruptions and violent protests that disrupted production in the People’s Republic, the Cupertino giant has been hedging its exposure to Foxconn.
The two-decade-plus partnership has been transformational for both sides. The $45 billion Foxconn, formally known as Hon Hai Precision Industry, is now the world's largest contract manufacturer of electronics with production hubs in China and elsewhere. It makes 70% of the world’s iPhones, according to Fubon Research. Meanwhile Apple’s huge investments into Foxconn have paid off: the U.S. company is the most profitable smartphone maker by far. Boss Tim Cook is also turning to Foxconn to expand in India, Vietnam and Mexico as he steps up efforts to diversify supply chains out of China, which have suffered under Beijing’s heavy-handed pandemic containment efforts and tensions with the United States.
However, thanks to dramatic labour unrest and pandemic disruptions, Apple's premium handset delivery volumes could miss expectations by up to a fifth, or 20 million units, during the all-important holiday season, according to TF Securities analyst Ming-Chi Kuo. Foxconn has been scrambling to contain the fallout, offering bonuses to temporary workers and shifting production to other facilities. In the meantime, however, Apple has probably been forced to send more orders to Taiwanese rival Pegatron and Guangdong-based Luxshare.
This is bad news for Foxconn, which is expected to generate more than half of revenue this year from Apple, per JP Morgan analysts. The bank also forecasts that Foxconn's manufacturing share of iPhones will decline to 57% by 2025, while Shenzhen-listed Luxshare's will more than triple to 24%. Foxconn’s shares have vastly underperformed both Apple and Luxshare over the past five years.
Foxconn chief Liu Young-way might not mind a bit of distance, however. Rising labour costs and brutal price wars with Luxshare have hurt. Apple's strict procurement rules prevent Foxconn from sourcing or manufacturing many components on its own, making it hard to cut costs through vertical integration, according to Morningstar analysts. Gross margins have fallen to roughly 6% in 2021 from 8% a decade ago.
Liu hopes ventures into electric cars, batteries and more can lift that number to 10% by 2025. If they do, he might find iPhone withdrawal more tolerable.
Follow @mak_robyn on Twitter
CONTEXT NEWS
Taiwan's Hon Hai Precision, popularly known as Foxconn, could see more than 30% of iPhone production at its major Zhengzhou factory affected after violent protests erupted over Covid-19 restrictions and confusion over hiring bonuses, Reuters reported on Nov. 25, citing a source. More than 20,000 workers have left the plant.
The factory is the only one that makes premium models, including the iPhone 14 Pro. Overall, Foxconn manufactures 70% of iPhones globally, according to Fubon Research.
In late October, videos of fleeing workers went viral. At the time, Foxconn said it was bringing the situation under control and was coordinating with other plants to increase production.
(Editing by Pete Sweeney and Katrina Hamlin)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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However, thanks to dramatic labour unrest and pandemic disruptions, Apple's premium handset delivery volumes could miss expectations by up to a fifth, or 20 million units, during the all-important holiday season, according to TF Securities analyst Ming-Chi Kuo. Apple's strict procurement rules prevent Foxconn from sourcing or manufacturing many components on its own, making it hard to cut costs through vertical integration, according to Morningstar analysts. Taiwan's Hon Hai Precision, popularly known as Foxconn, could see more than 30% of iPhone production at its major Zhengzhou factory affected after violent protests erupted over Covid-19 restrictions and confusion over hiring bonuses, Reuters reported on Nov. 25, citing a source.
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Even before the recent supply chain disruptions and violent protests that disrupted production in the People’s Republic, the Cupertino giant has been hedging its exposure to Foxconn. However, thanks to dramatic labour unrest and pandemic disruptions, Apple's premium handset delivery volumes could miss expectations by up to a fifth, or 20 million units, during the all-important holiday season, according to TF Securities analyst Ming-Chi Kuo. The bank also forecasts that Foxconn's manufacturing share of iPhones will decline to 57% by 2025, while Shenzhen-listed Luxshare's will more than triple to 24%.
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HONG KONG (Reuters Breakingviews) - Covid-19 lockdowns and protests across China have highlighted the risks of the mutual dependence between Taiwan's Foxconn and its top customer Apple. Apple's strict procurement rules prevent Foxconn from sourcing or manufacturing many components on its own, making it hard to cut costs through vertical integration, according to Morningstar analysts. Taiwan's Hon Hai Precision, popularly known as Foxconn, could see more than 30% of iPhone production at its major Zhengzhou factory affected after violent protests erupted over Covid-19 restrictions and confusion over hiring bonuses, Reuters reported on Nov. 25, citing a source.
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It makes 70% of the world’s iPhones, according to Fubon Research. Taiwan's Hon Hai Precision, popularly known as Foxconn, could see more than 30% of iPhone production at its major Zhengzhou factory affected after violent protests erupted over Covid-19 restrictions and confusion over hiring bonuses, Reuters reported on Nov. 25, citing a source. More than 20,000 workers have left the plant.
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18209.0
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2022-11-30 00:00:00 UTC
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GLOBAL ECONOMY-Asia's factory activity shrinks as China lockdown impact widens
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AAPL
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https://www.nasdaq.com/articles/global-economy-asias-factory-activity-shrinks-as-china-lockdown-impact-widens
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By Leika Kihara
TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday.
The results highlighted Asia's darkening economic outlook for 2023, as the lockdowns disrupt international supply and heighten fears of a further slump in its economy, the world's second-largest.
Amid the pandemic curbs, China's factory activity shrank in November, a private survey showed on Thursday. The result implied weaker employment and economic growth in the fourth quarter.
Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global demand and stubbornly high input costs, surveys showed.
"Cooling market conditions, sustained cost pressures and weak underlying demand, both domestically and internationally, were reportedly pivotal factors contributing to the declines," said economist Laura Denman at S&P Global Market Intelligence, which compiles the survey on Japan.
China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) stood at 49.4 in November, up from 49.2 in the previous month but still below the 50 mark, which separates growth from contraction. It has now been below 50 for four consecutive months.
The figure followed downbeat data in an official survey on Wednesday that showed manufacturing activity had hit a seven-month low in November.
Japan's au Jibun Bank PMI also fell, to 49.0 in November from October's 50.7. That was the first contraction since November 2020.
South Korea's factory activity shrank for a fifth straight month in November but the downturn moderated slightly, possibly suggesting the worst was over for businesses.
Still, South Korea's exports in November suffered their steepest annual drop in 2-1/2 years, separate data showed on Thursday, hit by cooling global demand in major markets led by China and a downturn in the semiconductor industry.
Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. They have also stoked rare street protests across many cities.
The impact of China's woes was felt widely across Asia. Taiwan's PMI stood at 41.6 in November, up slightly from 41.5 in October but remaining far below the 50 mark.
Vietnam's PMI fell to 47.4 in November from 50.6 in October, while that for Indonesia slid to 50.3 from 51.8, the private surveys showed.
(Reporting by Leika Kihara; Editing by Bradley Perrett)
((leika.kihara@thomsonreuters.com; +813-6441-1828; Reuters Messaging: leika.kihara.reuters.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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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global demand and stubbornly high input costs, surveys showed.
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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Amid the pandemic curbs, China's factory activity shrank in November, a private survey showed on Thursday.
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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) stood at 49.4 in November, up from 49.2 in the previous month but still below the 50 mark, which separates growth from contraction.
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Lockdowns in China have hit production at a factory there that is the biggest producer of Apple Inc AAPL.O iPhones. By Leika Kihara TOKYO, Dec 1 (Reuters) - Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global demand and stubbornly high input costs, surveys showed.
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2022-11-30 00:00:00 UTC
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US STOCKS-Wall Street ends sharply higher after Powell comments
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-sharply-higher-after-powell-comments-1
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By Noel Randewich and Shreyashi Sanyal
Nov 30 (Reuters) - Wall Street ended sharply higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December.
The S&P 500 rallied and closed above its 200 day moving average for the first time since April after the release of Powell's remarks prepared for delivery at the Brookings Institution think tank in Washington.
Powell also cautioned that the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long.
"(The market) has waited with bated breath, looking for that clarification in terms of duration and extent of Fed tightening. And anything that gives hope to the idea the Fed is becoming less hawkish is viewed as a positive for stocks, at least on a short-term basis," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.
Bets that the Fed will reduce the size of its rate hikes, as well as recent data pointing to a mild cooling in inflation, led the benchmark S&P 500 index .SPX to its second straight month of gains.
The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%.
Tesla Inc's TSLA.O shares surged 7.7% after China Merchants Bank International said Tesla's sales in China in November were boosted by price cuts and incentives offered on its Model 3 and Model Y.
The S&P 500 climbed 3.09% to end the session at 4,079.97 points.
The Nasdaq gained 4.41% to 11,468.00 points, while Dow Jones Industrial Average rose 2.18% to 34,589.24 points.
The Philadelphia Semiconductor index .SOX surged 5.85%, trimming its loss in 2022 to about 28%.
Volume on U.S. exchanges was heavy, with 15.0 billion shares traded, compared to an average of 11.1 billion shares over the previous 20 sessions.
For November, the S&P 500 climbed 5.4%, the Dow added 5.7% and the Nasdaq increased 4.4%.
An ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
"The ADP employment number not meeting expectations fits into the narrative that the Fed will have room and start slowing down its rate hikes, and that definitely benefits interest rate sensitive assets," said Keith Buchanan, a portfolio manager at Globalt in Atlanta.
The Labor Department's closely watched nonfarm payrolls data is due on Friday. A report showed U.S. job openings falling to 10.334 million in October, against 10.687 million in the prior month.
Another reading showed the U.S. economy rebounded more strongly than initially thought in the third quarter.
The S&P 500 remains down about 14% so far in 2022, while the Nasdaq index .IXIC has lost about 27%.
Biogen Inc BIIB.O jumped 4.7% after its experimental Alzheimer's drug slowed cognitive decline in a closely watched trial.
Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 24.1-to-one ratio.
The S&P 500 posted 24 new highs and 1 new low; the Nasdaq recorded 117 new highs and 167 new lows.
S&P 500 clears 200-day moving averagehttps://tmsnrt.rs/3GZBY4v
S&P 500 stockshttps://tmsnrt.rs/3XJ5hy1
(Reporting by Shreyashi Sanyal, Devik Jain & Bansari Mayur Kamdar in Bengaluru, and by Noel Randewich in Oakland, Calif.; additional reporting by Stephen Culp in New York; Editing by Shounak Dasgupta, Chizu Nomiyama and Diane Craft)
((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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Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%. By Noel Randewich and Shreyashi Sanyal Nov 30 (Reuters) - Wall Street ended sharply higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December. And anything that gives hope to the idea the Fed is becoming less hawkish is viewed as a positive for stocks, at least on a short-term basis," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.
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Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
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Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. An ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
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Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%. The S&P 500 climbed 3.09% to end the session at 4,079.97 points. For November, the S&P 500 climbed 5.4%, the Dow added 5.7% and the Nasdaq increased 4.4%.
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18211.0
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2022-11-30 00:00:00 UTC
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Why Netflix, Apple, Amazon, and Other FAANG-M Stocks Rocketed Higher Today
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AAPL
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https://www.nasdaq.com/articles/why-netflix-apple-amazon-and-other-faang-m-stocks-rocketed-higher-today
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nan
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nan
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What happened
Uncertainty regarding the length and duration of the downturn have hung over the market like an anvil this year, with many investors afraid to buy the dip for fear of suffering further declines. Add to that the Federal Reserve Bank's relentless campaign of rising interest rates to combat persistent inflation, and it's no wonder that consumers and investors alike have shifted their behavior based on the tough macroeconomic conditions. However, the Fed changed its tone today, suggesting the pace of future interest rate hikes will moderate, perhaps as soon as next month.
With that as a backdrop, popular FAANG stocks were squarely in rally mode Wednesday afternoon. Netflix (NASDAQ: NFLX) surged 9.2%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) jumped 5.4%, honorary member Microsoft (NASDAQ: MSFT) climbed 5.8%, while Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) each rallied 4.5% by the time the market closed on Wednesday.
There was no company-specific news that even came close to explaining the magnitude of these broad-based gains. This suggests that investors were reacting to the potential for slowing interest rate hikes and an overall improvement in the beleaguered economy.
Image source: Getty Images.
So what
Federal Reserve chair Jerome Powell delivered a highly anticipated speech at the Brookings Institution in Washington, D.C. on Wednesday. Market participants were on the edge of their seats, hoping to glean insight into how the central bank plans to continue its ongoing battle with inflation. Wall Street heard exactly what it was hoping to hear, as Powell's comments suggested that the Fed would begin to slow the pace and tenor of interest rate hikes, beginning as early as December.
"It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down," Powell said in his speech. "The time for moderating the pace of rate increases may come as soon as the December meeting."
While Powell's missive didn't provide specific details, the remarks seemed to suggest that December's expected interest rate hike could be lower than the 0.75% rate hikes that the Fed has levied in each of the past four outings. The increase in early November brought the federal funds rate to a range of 3.75% to 4%, its highest rate since early 2008 and the sixth increase so far this year.
The combination of near 40-year-high inflation and the unrelenting cadence of rising interest rates has threatened to push an already fragile economy into recession. This prospect has weighed on the major market indexes, with the S&P 500 and Nasdaq Composite down 16% and 30%, respectively, from highs reached late last year.
Powell's comments were a breath of fresh air, suggesting the worst may be behind us.
Now what
When we talk about FAANG (or FAANG-M) stocks, we are talking about some of the most popular stocks among investors:
Facebook parent Meta Platforms
Apple
Amazon
Netflix
Google, which rebranded as Alphabet
Microsoft
The FAANG stocks have been among the best market performers over the past decade, but their performance has been mixed during the downturn. Demand for Apple's iPhones has held up remarkably thus far, but the holidays will soon test consumer resolve. Netflix was savaged by its first subscriber decline in more than a decade. A return to growth helped the stock rebound, but it's still nearly 50% off its 2021 highs. Declines in both e-commerce and advertising spending have beaten down Amazon and Alphabet, respectively, with investors waiting in the wings to see if or when growth returns. Microsoft serves both business and consumer markets, and each of its major segments has taken a hit.
Powell's comments gave investors the excuse they needed to view the glass as half full today as they bought up FAANG-M stocks, which are down between 19% and 49% so far this year.
Furthermore, previously lofty valuations have become much more reasonable over the past year, though still not cheap in terms of traditional valuation metrics. For example, Microsoft still trades for nearly 8 times next year's sales, while Apple has a forward price-to-sales ratio of 5. Alphabet and Netflix are both trading for 4 times next year's sales, while Amazon -- the most reasonably priced of the group -- trades at less than 2 times forward sales, putting it squarely in bargain basement territory. I would argue that, in better economic times, investors awarded these stocks with premium valuations due to their consistent growth.
Given their history of outperforming the broader markets -- and doing so by a wide measure -- now looks like the time to add to these market leaders or buy an initial position, before they start to soar.
10 stocks we like better than Netflix
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Netflix 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 November 7, 2022
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Danny Vena has positions in Alphabet, Amazon.com, Apple, Microsoft, and Netflix. The Motley Fool has positions in and recommends Alphabet, Amazon.com, Apple, Microsoft, and Netflix. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Netflix (NASDAQ: NFLX) surged 9.2%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) jumped 5.4%, honorary member Microsoft (NASDAQ: MSFT) climbed 5.8%, while Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) each rallied 4.5% by the time the market closed on Wednesday. What happened Uncertainty regarding the length and duration of the downturn have hung over the market like an anvil this year, with many investors afraid to buy the dip for fear of suffering further declines. Add to that the Federal Reserve Bank's relentless campaign of rising interest rates to combat persistent inflation, and it's no wonder that consumers and investors alike have shifted their behavior based on the tough macroeconomic conditions.
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Netflix (NASDAQ: NFLX) surged 9.2%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) jumped 5.4%, honorary member Microsoft (NASDAQ: MSFT) climbed 5.8%, while Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) each rallied 4.5% by the time the market closed on Wednesday. Wall Street heard exactly what it was hoping to hear, as Powell's comments suggested that the Fed would begin to slow the pace and tenor of interest rate hikes, beginning as early as December. Now what When we talk about FAANG (or FAANG-M) stocks, we are talking about some of the most popular stocks among investors: Facebook parent Meta Platforms Apple Amazon Netflix Google, which rebranded as Alphabet Microsoft The FAANG stocks have been among the best market performers over the past decade, but their performance has been mixed during the downturn.
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Netflix (NASDAQ: NFLX) surged 9.2%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) jumped 5.4%, honorary member Microsoft (NASDAQ: MSFT) climbed 5.8%, while Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) each rallied 4.5% by the time the market closed on Wednesday. Now what When we talk about FAANG (or FAANG-M) stocks, we are talking about some of the most popular stocks among investors: Facebook parent Meta Platforms Apple Amazon Netflix Google, which rebranded as Alphabet Microsoft The FAANG stocks have been among the best market performers over the past decade, but their performance has been mixed during the downturn. See the 10 stocks *Stock Advisor returns as of November 7, 2022 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.
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Netflix (NASDAQ: NFLX) surged 9.2%, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) jumped 5.4%, honorary member Microsoft (NASDAQ: MSFT) climbed 5.8%, while Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) each rallied 4.5% by the time the market closed on Wednesday. Now what When we talk about FAANG (or FAANG-M) stocks, we are talking about some of the most popular stocks among investors: Facebook parent Meta Platforms Apple Amazon Netflix Google, which rebranded as Alphabet Microsoft The FAANG stocks have been among the best market performers over the past decade, but their performance has been mixed during the downturn. That's right -- they think these 10 stocks are even better buys.
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18212.0
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2022-11-30 00:00:00 UTC
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After Hours Most Active for Nov 30, 2022 : SABR, NYCB, PBF, LUMN, FHN, T, AAPL, INTC, AQN, MSFT, LYFT, CMCSA
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-nov-30-2022-%3A-sabr-nycb-pbf-lumn-fhn-t-aapl-intc-aqn-msft-lyft
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nan
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nan
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The NASDAQ 100 After Hours Indicator is up 9.49 to 12,039.55. The total After hours volume is currently 291,755,581 shares traded.
The following are the most active stocks for the after hours session:
Sabre Corporation (SABR) is -0.11 at $6.00, with 31,352,480 shares traded. SABR's current last sale is 85.71% of the target price of $7.
New York Community Bancorp, Inc. (NYCB) is unchanged at $9.35, with 23,542,125 shares traded. NYCB's current last sale is 93.5% of the target price of $10.
PBF Energy Inc. (PBF) is unchanged at $39.77, with 13,610,526 shares traded. PBF's current last sale is 88.38% of the target price of $45.
Lumen Technologies, Inc. (LUMN) is unchanged at $5.47, with 12,837,074 shares traded. LUMN's current last sale is 78.14% of the target price of $7.
First Horizon Corporation (FHN) is unchanged at $24.85, with 12,369,879 shares traded., following a 52-week high recorded in today's regular session.
AT&T Inc. (T) is -0.06 at $19.22, with 10,925,095 shares traded. T's current last sale is 85.42% of the target price of $22.5.
Apple Inc. (AAPL) is -0.22 at $147.81, with 8,906,288 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2023. The consensus EPS forecast is $1.5. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Intel Corporation (INTC) is -0.05 at $30.02, with 7,549,021 shares traded. INTC's current last sale is 100.07% of the target price of $30.
Algonquin Power & Utilities Corp. (AQN) is unchanged at $7.55, with 6,940,583 shares traded. AQN's current last sale is 65.65% of the target price of $11.5.
Microsoft Corporation (MSFT) is -0.3819 at $254.76, with 5,293,961 shares traded. As reported by Zacks, the current mean recommendation for MSFT is in the "buy range".
Lyft, Inc. (LYFT) is unchanged at $11.22, with 4,948,096 shares traded. LYFT's current last sale is 53.43% of the target price of $21.
Comcast Corporation (CMCSA) is +0.01 at $36.65, with 4,755,948 shares traded. CMCSA's current last sale is 82.36% of the target price of $44.5.
The views and 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 -0.22 at $147.81, with 8,906,288 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". First Horizon Corporation (FHN) is unchanged at $24.85, with 12,369,879 shares traded., following a 52-week high recorded in today's regular session.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is -0.22 at $147.81, with 8,906,288 shares traded. Sabre Corporation (SABR) is -0.11 at $6.00, with 31,352,480 shares traded.
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Apple Inc. (AAPL) is -0.22 at $147.81, with 8,906,288 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Sabre Corporation (SABR) is -0.11 at $6.00, with 31,352,480 shares traded.
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Apple Inc. (AAPL) is -0.22 at $147.81, with 8,906,288 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The NASDAQ 100 After Hours Indicator is up 9.49 to 12,039.55.
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18213.0
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2022-11-30 00:00:00 UTC
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US STOCKS-Wall Street ends sharply higher after Powell comments
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-sharply-higher-after-powell-comments-0
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nan
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nan
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By Noel Randewich and Shreyashi Sanyal
Nov 30 (Reuters) - Wall Street ended sharply higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December.
The S&P 500 rallied from an earlier loss and the Nasdaq jumped after the release of Powell's remarks prepared for delivery at the Brookings Institution think tank in Washington.
Powell also cautioned that the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long.
"(The market) has waited with bated breath, looking for that clarification in terms of duration and extent of Fed tightening. And anything that gives hope to the idea the Fed is becoming less hawkish is viewed as a positive for stocks, at least on a short-term basis," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.
Bets that the Fed will reduce the size of its rate hikes, as well as recent data pointing to a mild cooling in inflation, led the benchmark S&P 500 index .SPXto its second straight month of gains.
The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%.
Tesla Inc's TSLA.O shares surged 7.7% after China Merchants Bank International said Tesla's sales in China in November were boosted by price cuts and incentives offered on its Model 3 and Model Y.
The S&P 500 climbed 3.09% to end the session at 4,079.97 points.
The Nasdaq gained 4.41% to 11,468.00 points, while Dow Jones Industrial Average rose 2.18% to 34,589.24 points.
The Philadelphia Semiconductor index .SOX surged 5.85%, trimming its loss in 2022 to about 28%.
Volume on U.S. exchanges was heavy, with 15.0 billion shares traded, compared to an average of 11.1 billion shares over the previous 20 sessions.
For November, the S&P 500 climbed 5.4%, the Dow added 5.7% and the Nasdaq increased 4.4%.
An ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
"The ADP employment number not meeting expectations fits into the narrative that the Fed will have room and start slowing down its rate hikes, and that definitely benefits interest rate sensitive assets," said Keith Buchanan, a portfolio manager at Globalt in Atlanta.
The Labor Department's closely watched nonfarm payrolls data is due on Friday. A report showed U.S. job openings falling to 10.334 million in October, against 10.687 million in the prior month.
Another reading showed the U.S. economy rebounded more strongly than initially thought in the third quarter.
The S&P 500 remains down about 14% so far in 2022, while the Nasdaq index .IXIC has lost about 27%.
Biogen Inc BIIB.O jumped 4.7% after its experimental Alzheimer's drug slowed cognitive decline in a closely watched trial.
Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 24.1-to-one ratio.
The S&P 500 posted 24 new highs and 1 new low; the Nasdaq recorded 117 new highs and 167 new lows.
(Reporting by Shreyashi Sanyal, Devik Jain & Bansari Mayur Kamdar in Bengaluru, and by Noel Randewich in Oakland, Calif.; additional reporting by Stephen Culp in New York; Editing by Shounak Dasgupta, Chizu Nomiyama and Diane Craft)
((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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Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%. By Noel Randewich and Shreyashi Sanyal Nov 30 (Reuters) - Wall Street ended sharply higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December. And anything that gives hope to the idea the Fed is becoming less hawkish is viewed as a positive for stocks, at least on a short-term basis," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.
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Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
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Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. An ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
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Nvidia NVDA.O rallied more than 8%, Microsoft MSFT.O jumped 6.2% and Apple AAPL.O climbed 4.9%. The S&P 500 climbed 3.09% to end the session at 4,079.97 points. The Nasdaq gained 4.41% to 11,468.00 points, while Dow Jones Industrial Average rose 2.18% to 34,589.24 points.
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18214.0
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2022-11-30 00:00:00 UTC
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US STOCKS-Wall Street ends sharply higher after Powell comments
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-sharply-higher-after-powell-comments
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nan
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nan
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By Noel Randewich and Shreyashi Sanyal
Nov 30 (Reuters) - Wall Street ended sharply higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December.
The S&P 500 rallied from an earlier loss and the Nasdaq jumped after the release of Powell's remarks prepared for delivery at the Brookings Institution think tank in Washington.
Powell also cautioned that the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long.
"(The market) has waited with bated breath, looking for that clarification in terms of duration and extent of Fed tightening. And anything that gives hope to the idea the Fed is becoming less hawkish is viewed as a positive for stocks, at least on a short-term basis," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.
Bets that the Fed will reduce the size of its rate hikes, as well as recent data pointing to a mild cooling in inflation, have the benchmark S&P 500 index .SPX on track for its second straight month of gains.
The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
Heavyweight technology stocks Apple AAPL.O, Microsoft MSFT.O and Nvidia NVDA.O rallied.
Tesla Inc's TSLA.Oshares surged after China Merchants Bank International said Tesla's sales in China in November were boosted by price cuts and incentives offered on its Model 3 and Model Y.
According to preliminary data, the S&P 500 .SPX gained 121.18 points, or 3.06%, to end at 4,078.81 points, while the Nasdaq Composite .IXIC gained 484.62 points, or 4.41%, to 11,468.40. The Dow Jones Industrial Average .DJI rose 716.21 points, or 2.12%, to 34,568.74.
AnADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
"The ADP employment number not meeting expectations fits into the narrative that the Fed will have room and start slowing down its rate hikes, and that definitely benefits interest rate sensitive assets," said Keith Buchanan, a portfolio manager at Globalt in Atlanta.
The Labor Department's closely watched nonfarm payrolls data is due on Friday. A report showed U.S. job openings falling to 10.334 million in October, against 10.687 million in the prior month.
Another reading showed the U.S. economy rebounded more strongly than initially thought in the third quarter.
The S&P 500 remains down about 15% so far in 2022, while the Nasdaq index .IXIC has lost about 27%.
Biogen Inc BIIB.Ojumped after its experimental Alzheimer's drug slowed cognitive decline in a closely watched trial.
(Reporting by Shreyashi Sanyal, Devik Jain & Bansari Mayur Kamdar in Bengaluru, and by Noel Randewich in Oakland, Calif.; additional reporting by Stephen Culp in New York; Editing by Shounak Dasgupta, Chizu Nomiyama and Diane Craft)
((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.
|
Heavyweight technology stocks Apple AAPL.O, Microsoft MSFT.O and Nvidia NVDA.O rallied. By Noel Randewich and Shreyashi Sanyal Nov 30 (Reuters) - Wall Street ended sharply higher on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December. And anything that gives hope to the idea the Fed is becoming less hawkish is viewed as a positive for stocks, at least on a short-term basis," said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana.
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Heavyweight technology stocks Apple AAPL.O, Microsoft MSFT.O and Nvidia NVDA.O rallied. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
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Heavyweight technology stocks Apple AAPL.O, Microsoft MSFT.O and Nvidia NVDA.O rallied. Bets that the Fed will reduce the size of its rate hikes, as well as recent data pointing to a mild cooling in inflation, have the benchmark S&P 500 index .SPX on track for its second straight month of gains. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released.
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Heavyweight technology stocks Apple AAPL.O, Microsoft MSFT.O and Nvidia NVDA.O rallied. According to preliminary data, the S&P 500 .SPX gained 121.18 points, or 3.06%, to end at 4,078.81 points, while the Nasdaq Composite .IXIC gained 484.62 points, or 4.41%, to 11,468.40. AnADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
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18215.0
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2022-11-30 00:00:00 UTC
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US STOCKS-Wall Street rises after Powell eyes slower rate hikes
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-rises-after-powell-eyes-slower-rate-hikes
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nan
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nan
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By Noel Randewich and Shreyashi Sanyal
Nov 30 (Reuters) - Wall Street rallied on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December.
The S&P 500 moved into positive territory and the Nasdaq extended gains after the release of Powell's remarks prepared for delivery at the Brookings Institution think tank in Washington.
Powell also cautioned that the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long.
Bets that the Fed will reduce the size of its rate hikes, as well as recent data pointing to a mild cooling in inflation, have the benchmark S&P 500 index .SPX on track for its second straight month of gains.
The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
The S&P 500 remains down about 16% so far in 2022, while the Nasdaq index .IXIC has lost about 29%.
In afternoon trading, Apple AAPL.O was up 1.5% and Nvidia NVDA.O gained 2.8%.
Tesla Inc's TSLA.O shares rose 2.3%, after China Merchants Bank International said Tesla's sales in China in November were boosted by price cuts and incentives offered on its Model 3 and Model Y.
Data on the day was mixed as the ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
"The ADP employment number not meeting expectations fits into the narrative that the Fed will have room and start slowing down its rate hikes, and that definitely benefits interest rate sensitive assets," said Keith Buchanan, a portfolio manager at Globalt in Atlanta.
The Labor Department's closely watched nonfarm payrolls data is due on Friday. A report showed U.S. job openings falling to 10.334 million in October, against 10.687 million in the prior month.
Another reading showed the U.S. economy rebounded more strongly than initially thought in the third quarter.
The S&P 500 was up 0.64% at 3,982.96 points.
The Nasdaq gained 1.30% to 11,126.16 points, while the Dow Jones Industrial Average was up 0.20% at 33,919.33 points.
Biogen Inc BIIB.Ojumped 4.3% after its experimental Alzheimer's drug slowed cognitive decline in a closely watched trial.
Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 1.5-to-one ratio.
The S&P 500 posted 6 new highs and 1 new lows; the Nasdaq recorded 61 new highs and 144 new lows.
(Reporting by Shreyashi Sanyal, Devik Jain & Bansari Mayur Kamdar in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Shounak Dasgupta and Chizu Nomiyama)
((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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In afternoon trading, Apple AAPL.O was up 1.5% and Nvidia NVDA.O gained 2.8%. By Noel Randewich and Shreyashi Sanyal Nov 30 (Reuters) - Wall Street rallied on Wednesday after Federal Reserve Chair Jerome Powell said the central bank might scale back the pace of its interest rate hikes as soon as December. The S&P 500 moved into positive territory and the Nasdaq extended gains after the release of Powell's remarks prepared for delivery at the Brookings Institution think tank in Washington.
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In afternoon trading, Apple AAPL.O was up 1.5% and Nvidia NVDA.O gained 2.8%. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released. The FedWatch tool now shows a 25% chance of a 75 basis point increase.
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In afternoon trading, Apple AAPL.O was up 1.5% and Nvidia NVDA.O gained 2.8%. Bets that the Fed will reduce the size of its rate hikes, as well as recent data pointing to a mild cooling in inflation, have the benchmark S&P 500 index .SPX on track for its second straight month of gains. The CME FedWatch Tool showed futures traders seeing a 75% chance that the Fed will raise interest rates by 50 basis points at its December meeting, up from a 65% chance before Powell's comments were released.
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In afternoon trading, Apple AAPL.O was up 1.5% and Nvidia NVDA.O gained 2.8%. Powell also cautioned that the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long. Data on the day was mixed as the ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
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2022-11-30 00:00:00 UTC
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Alphabet (GOOGL) Boosts YouTube Music With 2022 Recap Features
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https://www.nasdaq.com/articles/alphabet-googl-boosts-youtube-music-with-2022-recap-features
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Alphabet’s GOOGL division Google has started rolling out 2022 Recap features on its music-streaming service, YouTube Music.
YouTube Music’s 2022 Recap features personalized stats showing top songs of each season and other details including top artists, tracks, music videos, and playlists.
The 2022 Recap includes Top Trends showing artists discovered by a user, and Identity creating a music personality showing user’s music taste. Moreover, it shows the remixes, live performances, and other unique-to-YouTube content that the user has listened this year.
Android and iOS users can view the Recap stats by tapping their profile avatar in the top-right corner on YouTube Music.
Apart from these, Google lets users combine music and memories to view the moments of the entire year with Google Photos integration.
Further, Google is gearing up to bring the Recap feature to the YouTube app to let users view their personalized playlists, stats as well as share stories.
With the abovementioned features, Google is providing an enhanced experience to Android and iOS users. This is likely to boost the adoption rate of YouTube Music.
Thus, the increasing uptake of the music-streaming platform is expected to benefit GOOGL’s top line in the days ahead.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growing YouTube Music Efforts
Apart from the latest move, Alphabet recently rolled out the redesigned album UI on Android tablet. The redesign version shows the artiste’s name, type of media and the release year on top. Options like download, add to library, play, share and an overflow menu are also included.
In addition, GOOGL introduced shortcut features and an album carousel to the YouTube Music’s Explore tab.
GOOGL added a capability whereby users can save queues as playlists. Alphabetalso rolled out its Recent Played and Turntable widgets to Android users.
We believe the growing efforts will continue to contribute well to Alphabet’s Google services’ revenues in the upcoming period.
Revenues from the Google services business increased 2.5% year over year to $61.4 billion, accounting for 88.8% of the total third-quarter revenues.
Competitive Music Streaming Market
The growing music-streaming initiatives are positioning Alphabet well to rapidly penetrate the booming global music-streaming market.
Per a Grand View Research report, the global music streaming market is expected to see a CAGR of 14.7% from 2022 to 2030.
This, in turn, is likely to help GOOGL to win the confidence of the investors in the days ahead.
Shares of Alphabet have been down 34.3% in the year-to-date period compared with the Computer and Technology sector’s decline of 36.3%.
However, Alphabet faces intense competitive pressure from other companies like Amazon AMZN, Apple AAPL and Spotify SPOT, which are making consistent efforts to capitalize on the above-mentioned prospects.
Amazon is gaining strong momentum in the music streaming market on the back of its expanding global footprint. AMZN offers its premium music subscription service Amazon Music Unlimited to customers. With Amazon Music Unlimited, music lovers can listen to any song anytime and anywhere on all types of devices, including smartphone, tablet, PC/Mac, Fire TV and Alexa-enabled devices like Amazon Echo. AMZN has lost 44.5% in the year-to-date period.
Shares of Apple have been down 20.5% in the same time frame. Apple’s music-streaming service Apple Music offers a subscription tier powered by Siri named Apple Music Voice Plan. Using Apple Music Voice Plan, subscribers can access millions of songs, playlists, personalized mixes, genre stations and Apple Music Radio. Music listeners can also download the Apple Music app on their Android tablet or Chromebook supporting Android apps.
Spotify provides commercial free music and ad-supported services to customers. Music lovers can enjoy ad-free music and offline playbacks with Spotify Premium service. SPOT users can enjoy the tablet version of Spotify on their iPad or Android tablets. Spotify has lost 67.9% in the year-to-date period.
Amazon, Apple and Spotify’s growing efforts are expected to remain a threat to Alphabet’s position in the music streaming market.
Currently, Alphabet carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Spotify Technology (SPOT) : 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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However, Alphabet faces intense competitive pressure from other companies like Amazon AMZN, Apple AAPL and Spotify SPOT, which are making consistent efforts to capitalize on the above-mentioned prospects. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. Android and iOS users can view the Recap stats by tapping their profile avatar in the top-right corner on YouTube Music.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. However, Alphabet faces intense competitive pressure from other companies like Amazon AMZN, Apple AAPL and Spotify SPOT, which are making consistent efforts to capitalize on the above-mentioned prospects. YouTube Music’s 2022 Recap features personalized stats showing top songs of each season and other details including top artists, tracks, music videos, and playlists.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. However, Alphabet faces intense competitive pressure from other companies like Amazon AMZN, Apple AAPL and Spotify SPOT, which are making consistent efforts to capitalize on the above-mentioned prospects. The 2022 Recap includes Top Trends showing artists discovered by a user, and Identity creating a music personality showing user’s music taste.
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However, Alphabet faces intense competitive pressure from other companies like Amazon AMZN, Apple AAPL and Spotify SPOT, which are making consistent efforts to capitalize on the above-mentioned prospects. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. Alphabet’s GOOGL division Google has started rolling out 2022 Recap features on its music-streaming service, YouTube Music.
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2022-11-30 00:00:00 UTC
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Biden to visit Taiwanese chip manufacturer TSMC's Arizona plant on Dec 6
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https://www.nasdaq.com/articles/biden-to-visit-taiwanese-chip-manufacturer-tsmcs-arizona-plant-on-dec-6
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By David Shepardson
WASHINGTON, Nov 30 (Reuters) - U.S. President Joe Biden plans to travel to Taiwanese chip manufacturer TSMC's Arizona facility on Dec. 6 to promote the administration's push to boost U.S. semiconductor manufacturing, the White House said.
Taiwan Semiconductor Manufacturing Co Ltd 2330.TW, TSM.N, a major supplier to Apple Inc AAPL.O and the world's largest contract chipmaker, is constructing a $12 billion plant in Phoenix, Arizona, Reuters reported last week. The company is holding a "tool-in" ceremony in Arizona on Dec. 6.
Taiwan Economy Minister Wang Mei-hua said Biden's attendance showed the importance he attached to TSMC's investment.
"I think we will form a good supply relationship with the United States," she told reporters in Taipei.
TSMC founder Morris Chang said last week the company is planning to produce chips with advanced 3-nanometre technology at its new factory in Phoenix but the plans are not completely finalized yet.
TSMC, Asia's most valuable listed company, has said it was building on a site for a potential second plant in Arizona. The company began construction in mid-2021.
Taiwan's dominant position as a maker of chips used in technology from cell phones and cars to fighter jets has sparked concerns of over-reliance on the island, especially as China ramps up military pressure to assert its sovereignty claims.
TSMC's Arizona factory has sparked concerns in Taiwan, where semiconductor manufacturing is the backbone of the economy, about a "goodbye to Taiwan" trend among chip firms. TSMC, which makes most its chips in Taiwan, is also building a factory in Japan.
Wang said that most chips would still be made in Taiwan despite the U.S. and Japanese plans.
Both the United States and Europe are putting up billions of dollars in incentives to get companies to make chips closer to home, courting Taiwanese firms in particular.
In August, Biden signed legislation funding $52.7 billion for semiconductor chips manufacturing and research. The "Chips and Science" law also includes an investment tax credit for chip plants estimated to be worth $24 billion.
By subsidizing U.S. chip manufacturing and expanding research funding, the law aims to alleviate a persistent shortage that has affected everything from cars and weapons to washing machines and video games.
(Reporting by David Shepardson in Washington; Additional reporting by Ben Blanchard in Taipei; Writing by Alexandra Alper; Editing by Matthew Lewis and Stephen Coates)
((Alexandra.Alper@thomsonreuters.com; +1(202)354-5865; Reuters Messaging: alexandra.alper.thomsonreuters.com@reuters.net - https://twitter.com/alexalper?lang=en))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Taiwan Semiconductor Manufacturing Co Ltd 2330.TW, TSM.N, a major supplier to Apple Inc AAPL.O and the world's largest contract chipmaker, is constructing a $12 billion plant in Phoenix, Arizona, Reuters reported last week. Taiwan's dominant position as a maker of chips used in technology from cell phones and cars to fighter jets has sparked concerns of over-reliance on the island, especially as China ramps up military pressure to assert its sovereignty claims. By subsidizing U.S. chip manufacturing and expanding research funding, the law aims to alleviate a persistent shortage that has affected everything from cars and weapons to washing machines and video games.
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Taiwan Semiconductor Manufacturing Co Ltd 2330.TW, TSM.N, a major supplier to Apple Inc AAPL.O and the world's largest contract chipmaker, is constructing a $12 billion plant in Phoenix, Arizona, Reuters reported last week. By David Shepardson WASHINGTON, Nov 30 (Reuters) - U.S. President Joe Biden plans to travel to Taiwanese chip manufacturer TSMC's Arizona facility on Dec. 6 to promote the administration's push to boost U.S. semiconductor manufacturing, the White House said. TSMC's Arizona factory has sparked concerns in Taiwan, where semiconductor manufacturing is the backbone of the economy, about a "goodbye to Taiwan" trend among chip firms.
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Taiwan Semiconductor Manufacturing Co Ltd 2330.TW, TSM.N, a major supplier to Apple Inc AAPL.O and the world's largest contract chipmaker, is constructing a $12 billion plant in Phoenix, Arizona, Reuters reported last week. By David Shepardson WASHINGTON, Nov 30 (Reuters) - U.S. President Joe Biden plans to travel to Taiwanese chip manufacturer TSMC's Arizona facility on Dec. 6 to promote the administration's push to boost U.S. semiconductor manufacturing, the White House said. TSMC's Arizona factory has sparked concerns in Taiwan, where semiconductor manufacturing is the backbone of the economy, about a "goodbye to Taiwan" trend among chip firms.
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Taiwan Semiconductor Manufacturing Co Ltd 2330.TW, TSM.N, a major supplier to Apple Inc AAPL.O and the world's largest contract chipmaker, is constructing a $12 billion plant in Phoenix, Arizona, Reuters reported last week. TSMC's Arizona factory has sparked concerns in Taiwan, where semiconductor manufacturing is the backbone of the economy, about a "goodbye to Taiwan" trend among chip firms. TSMC, which makes most its chips in Taiwan, is also building a factory in Japan.
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18218.0
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2022-11-30 00:00:00 UTC
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US STOCKS-Wall St set to open flat as focus turns to Powell speech
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https://www.nasdaq.com/articles/us-stocks-wall-st-set-to-open-flat-as-focus-turns-to-powell-speech
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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
Tesla up as sales in China nearly double in November
Fed Chair Powell's speech at 1330 ET (1830 GMT)
U.S. private payrolls growth slows in November - ADP
U.S. preliminary Q3 GDP up more than expected
Futures: Dow flat, S&P up 0.10%, Nasdaq up 0.20%
Adds comments, updates prices throughout
By Shreyashi Sanyal
Nov 30 (Reuters) - U.S. stock indexes were set to open flat on Wednesday ahead of comments from Federal Reserve Chair Jerome Powell later in the day, while Tesla shares gained after the electric-vehicle maker's sales in China nearly doubled.
Powell's speech will be closely watched for signs of a slowdown in the pace of interest rate hikes by the central bank, as well as to assess the general health of the U.S. economy.
"The market is expecting him (Powell) to say maybe we won't do the 75 bps hike ... when people listen to the Fed Chair speak, they're waiting for that little hint," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
Hopes that the Fed will now hike rates in smaller increments and recent data pointing to a mild cooling in prices have positioned the benchmark S&P 500 index .SPX for its second straight month of gains.
The Dow Jones Industrial Average .DJI has gained nearly 18% in the last two months, while the Nasdaq index .IXIC has added about 4%.
Traders expect the Fed to increase rates by 50 basis points in December, with the rates peaking in June 2023. FEDWATCH
Tesla Inc's TSLA.O shares rose 0.8% in premarket trading as its China sales in November were boosted by price cuts and incentives offered on its Model 3 and Model Y, according to data from China Merchants Bank International.
The company led gains among other growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O and Alphabet Inc GOOGL.O, all of which rose between 0.3% and 0.4%.
Risk appetite was briefly boosted by a drop in yields on the two-year US2YT=RR and the 10-year US10YT=RR Treasury notes after the ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs.
The reading suggested demand for labor was cooling amid high interest rates, and comes ahead of the Labor Department's closely watched nonfarm payrolls data on Friday. The data is expected to show 200,000 job additions in November, compared with 261,000 jobs in the prior month.
The Commerce Department's second estimate of third-quarter gross domestic product showed the economy grew at a 2.9% annualized rate, higher than expectations of a 2.7% growth.
"A mixed bag this morning. So I don't really make much out of that, I'd like to see what Powell has to say," Saluzzi added.
At 8:41 a.m. ET, Dow e-minis 1YMcv1 were up 5 points, or 0.01%, S&P 500 e-minis EScv1 were up 4 points, or 0.1%, and Nasdaq 100 e-minis NQcv1 were up 23 points, or 0.2%.
Boeing Co BA.N shares gained 1.3% after U.S. Senate Commerce Committee Chair Maria Cantwell drafted a proposal granting exceptions for the planemaker's two 737 MAX variants if they include safety enhancements.
Biogen Inc BIIB.O jumped 4.3% after its experimental Alzheimer's drug slowed cognitive decline in a closely watched trial.
(Reporting by Shreyashi Sanyal & Bansari Mayur Kamdar Devik Jain; Additional reporting by Shubham Batra; Editing by Anil D'Silva and Shounak Dasgupta)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi))
The views and 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 led gains among other growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O and Alphabet Inc GOOGL.O, all of which rose between 0.3% and 0.4%. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Tesla up as sales in China nearly double in November Fed Chair Powell's speech at 1330 ET (1830 GMT) U.S. private payrolls growth slows in November - ADP U.S. preliminary Q3 GDP up more than expected Futures: Dow flat, S&P up 0.10%, Nasdaq up 0.20% Adds comments, updates prices throughout By Shreyashi Sanyal Nov 30 (Reuters) - U.S. stock indexes were set to open flat on Wednesday ahead of comments from Federal Reserve Chair Jerome Powell later in the day, while Tesla shares gained after the electric-vehicle maker's sales in China nearly doubled. Hopes that the Fed will now hike rates in smaller increments and recent data pointing to a mild cooling in prices have positioned the benchmark S&P 500 index .SPX for its second straight month of gains.
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The company led gains among other growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O and Alphabet Inc GOOGL.O, all of which rose between 0.3% and 0.4%. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Tesla up as sales in China nearly double in November Fed Chair Powell's speech at 1330 ET (1830 GMT) U.S. private payrolls growth slows in November - ADP U.S. preliminary Q3 GDP up more than expected Futures: Dow flat, S&P up 0.10%, Nasdaq up 0.20% Adds comments, updates prices throughout By Shreyashi Sanyal Nov 30 (Reuters) - U.S. stock indexes were set to open flat on Wednesday ahead of comments from Federal Reserve Chair Jerome Powell later in the day, while Tesla shares gained after the electric-vehicle maker's sales in China nearly doubled. Risk appetite was briefly boosted by a drop in yields on the two-year US2YT=RR and the 10-year US10YT=RR Treasury notes after the ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs.
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The company led gains among other growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O and Alphabet Inc GOOGL.O, all of which rose between 0.3% and 0.4%. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Tesla up as sales in China nearly double in November Fed Chair Powell's speech at 1330 ET (1830 GMT) U.S. private payrolls growth slows in November - ADP U.S. preliminary Q3 GDP up more than expected Futures: Dow flat, S&P up 0.10%, Nasdaq up 0.20% Adds comments, updates prices throughout By Shreyashi Sanyal Nov 30 (Reuters) - U.S. stock indexes were set to open flat on Wednesday ahead of comments from Federal Reserve Chair Jerome Powell later in the day, while Tesla shares gained after the electric-vehicle maker's sales in China nearly doubled. "The market is expecting him (Powell) to say maybe we won't do the 75 bps hike ... when people listen to the Fed Chair speak, they're waiting for that little hint," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
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The company led gains among other growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O and Alphabet Inc GOOGL.O, all of which rose between 0.3% and 0.4%. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Tesla up as sales in China nearly double in November Fed Chair Powell's speech at 1330 ET (1830 GMT) U.S. private payrolls growth slows in November - ADP U.S. preliminary Q3 GDP up more than expected Futures: Dow flat, S&P up 0.10%, Nasdaq up 0.20% Adds comments, updates prices throughout By Shreyashi Sanyal Nov 30 (Reuters) - U.S. stock indexes were set to open flat on Wednesday ahead of comments from Federal Reserve Chair Jerome Powell later in the day, while Tesla shares gained after the electric-vehicle maker's sales in China nearly doubled. Hopes that the Fed will now hike rates in smaller increments and recent data pointing to a mild cooling in prices have positioned the benchmark S&P 500 index .SPX for its second straight month of gains.
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2022-11-30 00:00:00 UTC
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US STOCKS-Dow falls ahead of Powell speech; Tesla shares boost Nasdaq
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https://www.nasdaq.com/articles/us-stocks-dow-falls-ahead-of-powell-speech-tesla-shares-boost-nasdaq
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By Shreyashi Sanyal
Nov 30 (Reuters) - Wall Street was mixed on Wednesday, with the Dow and S&P 500 down ahead of comments from Federal Reserve Chair Jerome Powell later in the day, while Tesla shares were among top boosts to the Nasdaq after the company's sales in China nearly doubled.
Powell's speech will be closely watched for signs of a slowdown in the pace of interest rate hikes by the central bank, as well as to assess the general health of the U.S. economy.
"The market is expecting him (Powell) to say maybe we won't do the 75 bps hike ... when people listen to the Fed Chair speak, they're waiting for that little hint," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
Hopes that the Fed will now hike rates in smaller increments and recent data pointing to a mild cooling in prices have positioned the benchmark S&P 500 index .SPX for its second straight month of gains.
The Dow Jones Industrial Average .DJI has gained 17.5% in the last two months, while the Nasdaq index .IXIC has added 4.2%.
Traders expect the Fed to increase rates by 50 basis points in December, with the rates peaking in June 2023. FEDWATCH
Tesla Inc's TSLA.O shares rose 1.7%, the most among growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Alphabet Inc GOOGL.O, all of which rose between 0.6% and 1.2%.
China Merchants Bank International said Tesla's sales in China in November were boosted by price cuts and incentives offered on its Model 3 and Model Y.
Data on the day was mixed as the ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
The Labor Department's closely watched nonfarm payrolls data is due on Friday. A report showed U.S. job openings falling to 10.334 million in October, against 10.687 million in the prior month.
Another reading showed the U.S. economy rebounded more strongly than initially thought in the third quarter.
"A mixed bag this morning. So I don't really make much out of that, I'd like to see what Powell has to say," Saluzzi added.
At 10:08 a.m. ET the Dow Jones Industrial Average .DJI was down 156.00 points, or 0.46%, at 33,696.53, the S&P 500 .SPX was down 4.84 points, or 0.12%, at 3,952.79, and the Nasdaq Composite .IXIC was up 47.46 points, or 0.43%, at 11,031.24.
3M Co MMM.N fell 1.6% as lockdowns in China hurt the company's electronic division, while Boeing Co BA.N gained 1.0% after a key U.S. lawmaker drafted a proposal granting exceptions for the planemaker's two 737 MAX variants.
Biogen Inc BIIB.O jumped 6.0% after its experimental Alzheimer's drug slowed cognitive decline in a closely watched trial.
Declining issues outnumbered advancers for a 1.05-to-1 ratio on the NYSE. Advancing issues outnumbered decliners for a 1.04-to-1 ratio on the Nasdaq.
The S&P index recorded two new 52-week highs and no new low, while the Nasdaq recorded 35 new highs and 74 new lows.
(Reporting by Shreyashi Sanyal, Devik Jain & Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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FEDWATCH Tesla Inc's TSLA.O shares rose 1.7%, the most among growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Alphabet Inc GOOGL.O, all of which rose between 0.6% and 1.2%. By Shreyashi Sanyal Nov 30 (Reuters) - Wall Street was mixed on Wednesday, with the Dow and S&P 500 down ahead of comments from Federal Reserve Chair Jerome Powell later in the day, while Tesla shares were among top boosts to the Nasdaq after the company's sales in China nearly doubled. Hopes that the Fed will now hike rates in smaller increments and recent data pointing to a mild cooling in prices have positioned the benchmark S&P 500 index .SPX for its second straight month of gains.
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FEDWATCH Tesla Inc's TSLA.O shares rose 1.7%, the most among growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Alphabet Inc GOOGL.O, all of which rose between 0.6% and 1.2%. By Shreyashi Sanyal Nov 30 (Reuters) - Wall Street was mixed on Wednesday, with the Dow and S&P 500 down ahead of comments from Federal Reserve Chair Jerome Powell later in the day, while Tesla shares were among top boosts to the Nasdaq after the company's sales in China nearly doubled. China Merchants Bank International said Tesla's sales in China in November were boosted by price cuts and incentives offered on its Model 3 and Model Y.
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FEDWATCH Tesla Inc's TSLA.O shares rose 1.7%, the most among growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Alphabet Inc GOOGL.O, all of which rose between 0.6% and 1.2%. By Shreyashi Sanyal Nov 30 (Reuters) - Wall Street was mixed on Wednesday, with the Dow and S&P 500 down ahead of comments from Federal Reserve Chair Jerome Powell later in the day, while Tesla shares were among top boosts to the Nasdaq after the company's sales in China nearly doubled. Hopes that the Fed will now hike rates in smaller increments and recent data pointing to a mild cooling in prices have positioned the benchmark S&P 500 index .SPX for its second straight month of gains.
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FEDWATCH Tesla Inc's TSLA.O shares rose 1.7%, the most among growth stocks, including Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Alphabet Inc GOOGL.O, all of which rose between 0.6% and 1.2%. Hopes that the Fed will now hike rates in smaller increments and recent data pointing to a mild cooling in prices have positioned the benchmark S&P 500 index .SPX for its second straight month of gains. Data on the day was mixed as the ADP National Employment report showed private employment increased by 127,000 in November, below expectations of 200,000 jobs, suggesting demand for labor was cooling amid high interest rates.
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18220.0
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2022-11-30 00:00:00 UTC
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Spotify CEO renews attack on Apple after Musk's salvo
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https://www.nasdaq.com/articles/spotify-ceo-renews-attack-on-apple-after-musks-salvo-0
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Adding further context, quotes
STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday in a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers".
On Monday, the world's richest person Elon Musk criticized the fee Apple charges software developers - including his Twitter business - for in-app purchases, and posted a meme suggesting he was willing to "go to war" rather than pay it.
Apple did not immediately respond to a request for comment on Wednesday. It has previously said the 30% cut it takes on purchases made in its App Store is used to protect consumers in areas such as fraud and privacy.
Spotify has previously submitted antitrust complaints against Apple in various countries, alleging the 30% charge has forced Spotify to "artificially inflate" its own prices.
Ek tagged a number of sympathetic business leaders in his 21-tweet thread, including Musk, Microsoft president Brad Smith, and Proton founder Andy Yen.
Tim Sweeney, the CEO of "Fortnite" maker Epic Games, subsequently tweeted that fighting Apple's "monopoly" was "an American issue transcending party politics".
Ek tweeted that Apple only "offers consumers the illusion of choice and give (sic) developers the illusion of control".
“So how much longer will we look away from this threat to the future of the internet? How many more consumers will be denied choice? There’s been a lot of talk. Talk is helpful but we need action,” he wrote.
(Reporting by Supantha Mukherjee in Stockholm and Martin Coulter in London Editing by Mark Potter)
((supantha.mukherjee@thomsonreuters.com; +46 70 721 1004; Reuters Messaging: supantha.mukherjee.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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Adding further context, quotes STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday in a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers". On Monday, the world's richest person Elon Musk criticized the fee Apple charges software developers - including his Twitter business - for in-app purchases, and posted a meme suggesting he was willing to "go to war" rather than pay it. Tim Sweeney, the CEO of "Fortnite" maker Epic Games, subsequently tweeted that fighting Apple's "monopoly" was "an American issue transcending party politics".
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Adding further context, quotes STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday in a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers". On Monday, the world's richest person Elon Musk criticized the fee Apple charges software developers - including his Twitter business - for in-app purchases, and posted a meme suggesting he was willing to "go to war" rather than pay it. Ek tweeted that Apple only "offers consumers the illusion of choice and give (sic) developers the illusion of control".
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Adding further context, quotes STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday in a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers". On Monday, the world's richest person Elon Musk criticized the fee Apple charges software developers - including his Twitter business - for in-app purchases, and posted a meme suggesting he was willing to "go to war" rather than pay it. Ek tweeted that Apple only "offers consumers the illusion of choice and give (sic) developers the illusion of control".
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Adding further context, quotes STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday in a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers". On Monday, the world's richest person Elon Musk criticized the fee Apple charges software developers - including his Twitter business - for in-app purchases, and posted a meme suggesting he was willing to "go to war" rather than pay it. Apple did not immediately respond to a request for comment on Wednesday.
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18221.0
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2022-11-30 00:00:00 UTC
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Spotify CEO renews attack on Apple after Musk's salvo
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AAPL
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https://www.nasdaq.com/articles/spotify-ceo-renews-attack-on-apple-after-musks-salvo
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nan
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nan
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STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday through a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers".
On Monday, Elon Musk criticized the fee Apple charges software developers, including Twitter, for in-app purchases, and posted a meme suggesting he was willing to "go to war" rather than pay the levy.
Apple did not immediately respond to a request for comment on Wednesday. It said earlier this week that the commissions it gets help to fund reviews of apps to ensure consumers are not exposed to fraud, pornography or privacy-intrusion.
Spotify has previously submitted antitrust complaints against Apple's policies with the European Commission.
Apart from Musk, Ek also tagged various technology executives in his tweets, from Epic Games CEO Tim Sweeney to Microsoft President Brad Smith.
"So how much longer will we look away from this threat to the future of the internet? How many more consumers will be denied choice?," Ek said in a tweet tagging the European Commission and the U.S. Commerce Department.
"There's been a lot of talk. Talk is helpful but we need action," Ek said.
(Reporting by Supantha Mukherjee in Stockholm and Martin Coulter in London Editing by Mark Potter)
((supantha.mukherjee@thomsonreuters.com; +46 70 721 1004; Reuters Messaging: supantha.mukherjee.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.
|
STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday through a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers". On Monday, Elon Musk criticized the fee Apple charges software developers, including Twitter, for in-app purchases, and posted a meme suggesting he was willing to "go to war" rather than pay the levy. Apart from Musk, Ek also tagged various technology executives in his tweets, from Epic Games CEO Tim Sweeney to Microsoft President Brad Smith.
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STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday through a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers". Apart from Musk, Ek also tagged various technology executives in his tweets, from Epic Games CEO Tim Sweeney to Microsoft President Brad Smith. How many more consumers will be denied choice?," Ek said in a tweet tagging the European Commission and the U.S. Commerce Department.
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STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday through a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers". Apart from Musk, Ek also tagged various technology executives in his tweets, from Epic Games CEO Tim Sweeney to Microsoft President Brad Smith. How many more consumers will be denied choice?," Ek said in a tweet tagging the European Commission and the U.S. Commerce Department.
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STOCKHOLM, Nov 30 (Reuters) - Spotify SPOT.N CEO Daniel Ek renewed his attack on Apple AAPL.O on Wednesday through a series of tweets alleging the iPhone maker "gives itself every advantage while at the same time stifling innovation and hurting consumers". On Monday, Elon Musk criticized the fee Apple charges software developers, including Twitter, for in-app purchases, and posted a meme suggesting he was willing to "go to war" rather than pay the levy. How many more consumers will be denied choice?," Ek said in a tweet tagging the European Commission and the U.S. Commerce Department.
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18222.0
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2022-11-30 00:00:00 UTC
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Apple Stock Is Down 20% From Its High. Time to Buy?
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AAPL
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https://www.nasdaq.com/articles/apple-stock-is-down-20-from-its-high.-time-to-buy
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nan
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nan
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Apple (NASDAQ: AAPL) shares reached an all-time high in January 2022, coming off a stellar year for the tech industry in which the COVID-19 pandemic led homebound consumers to invest heavily in home office and entertainment devices.
However, the rest of the year hasn't gone as well. While 2022 started off on a high, increases in inflation have severely stunted consumer spending, leading to a stock market sell-off.
Although Apple shares have dipped 20% year to date, the iPhone manufacturer has fared better than most tech companies this year. For instance, Netflix and AMD shares are down more than 50% year to date. Despite a slowdown in spending in multiple industries, Apple has retained strong demand and sales of its products.
Here's why Apple is a stellar buy during a stock dip.
Beating the odds
Apple posted its 2022 fourth-quarter earnings on Oct. 27, reporting a year-over-year revenue rise of 8.1% to $90.15 billion, which beat analysts' expectations by $1.38 billion. Operating income came in at $24.89 billion, rising 4.6%.
The company's growth stemmed primarily from high demand for its iPhone 14 lineup, launched in September, and products within its Mac segment.
According to IDC, worldwide smartphone shipments declined by 9.7% in the last year, while PC shipments similarly fell 15%. However, Apple reported 9.6% revenue growth in its iPhone segment, hitting $42.6 billion, and a 25.3% rise in revenue for its Mac segment to $11.5 billion.
In addition to defying market declines, Apple has retained a promising amount of free cash flow compared to the competition. Free cash flow has become a crucial metric this year, as the higher the figure, the better equipped a company will be to overcome a potential recession in 2023.
Apple's free cash flow is considerably higher than its peers', as seen in the table below.
Data by YCharts
With $111.4 billion in free cash flow, Apple appears to have what it needs to get through further economic declines and continue investing in its business.
iPhone production strains
At the moment, prospective investors might be most concerned over Apple's reliance on China for its iPhone production. The country has suffered a spike in COVID-19 cases, resulting in new regulations. Factories can remain open, but workers must live on-site. There has been considerable pushback from workers, slowing production at Foxconn -- the plant responsible for 70% of iPhone shipments.
iPhone sales made up 52% of Apple's revenue in its fiscal 2022, fueling investor concern over potential production delays. However, it's important to keep a long-term perspective when adding to your portfolio.
In addition to Foxconn coordinating backup production with other plants, Apple is making moves to diversify its production. The company is now making some iPhone 14s in India, with JP Morgan Chase estimating about 25% of all Apple's products will be produced there by 2025.
Additionally, Apple has developments in the works that could grow the percentage of revenue it receives from other segments. For instance, Services, which includes platforms such as Apple TV+, Music, iCloud, and more, is a quickly growing segment for the company.
Services revenue rose by 14% to $78 billion in Apple's fiscal 2022, bringing in the second-largest portion of revenue after the iPhone. As the company's services business continues to grow, it may take pressure off of Apple's iPhone segment, giving the company time to find a more reliable source of production.
Moreover, numerous reports state Apple is hard at work creating an augmented/virtual reality device that could enter the market as early as 2023. The $25.33 billion augmented reality market is expected to see a compound annual growth rate of 40.9% until at least 2030, according to Grand View Research. With
Apple has a history of entering new markets and quickly dominating, as it did with tablets, Bluetooth headphones, and smartwatches. So, I wouldn't bet against it doing the same with augmented or virtual reality and diversifying its revenue further.
Apple may face short-term headwinds in a potential recession in 2023 and reduced production in China. However, Apple should be an excellent long-term investment with a price-to-earnings ratio of 23.5 and a stock that has risen 237% in the last five years despite recent market declines.
10 stocks we like better than Apple
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Dani Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, and Netflix. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Apple (NASDAQ: AAPL) shares reached an all-time high in January 2022, coming off a stellar year for the tech industry in which the COVID-19 pandemic led homebound consumers to invest heavily in home office and entertainment devices. Free cash flow has become a crucial metric this year, as the higher the figure, the better equipped a company will be to overcome a potential recession in 2023. Data by YCharts With $111.4 billion in free cash flow, Apple appears to have what it needs to get through further economic declines and continue investing in its business.
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Apple (NASDAQ: AAPL) shares reached an all-time high in January 2022, coming off a stellar year for the tech industry in which the COVID-19 pandemic led homebound consumers to invest heavily in home office and entertainment devices. However, Apple reported 9.6% revenue growth in its iPhone segment, hitting $42.6 billion, and a 25.3% rise in revenue for its Mac segment to $11.5 billion. Apple's free cash flow is considerably higher than its peers', as seen in the table below.
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Apple (NASDAQ: AAPL) shares reached an all-time high in January 2022, coming off a stellar year for the tech industry in which the COVID-19 pandemic led homebound consumers to invest heavily in home office and entertainment devices. Although Apple shares have dipped 20% year to date, the iPhone manufacturer has fared better than most tech companies this year. However, Apple reported 9.6% revenue growth in its iPhone segment, hitting $42.6 billion, and a 25.3% rise in revenue for its Mac segment to $11.5 billion.
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Apple (NASDAQ: AAPL) shares reached an all-time high in January 2022, coming off a stellar year for the tech industry in which the COVID-19 pandemic led homebound consumers to invest heavily in home office and entertainment devices. However, Apple reported 9.6% revenue growth in its iPhone segment, hitting $42.6 billion, and a 25.3% rise in revenue for its Mac segment to $11.5 billion. iPhone production strains At the moment, prospective investors might be most concerned over Apple's reliance on China for its iPhone production.
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18223.0
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2022-11-30 00:00:00 UTC
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Foxconn asks workers for referrals to replenish China plant's staff
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AAPL
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https://www.nasdaq.com/articles/foxconn-asks-workers-for-referrals-to-replenish-china-plants-staff
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nan
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nan
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Refiles to fix extraneous words in paragraph 8, add dropped word in paragraph 2
SHANGHAI, Nov 30 (Reuters) - Apple AAPL.O supplier Foxconn on Wednesday offered a 1,000 yuan ($141.11) award to staff who successfully recommend people to work at its plant in China's Zhengzhou city, as it tries to replenish depleted staff numbers there after recent unrest.
The offer was made on the WeChat account belonging to the plant's recruitment team, which said workers would receive 500 yuan if the person stayed for 15 days, and another 500 yuan if they made it to a month. Typically, a Foxconn worker makes between 3,000 to 4,000 yuan a month.
Apple and Foxconn have warned that iPhone shipments will be impacted by the events of the past month at the giant plant, which saw tens of thousands of workers flee after it was hit by COVID. Last week, violent protests erupted at the facility over a bonus issue, prompted several others to leave.
The crisis could cut production for November at the factory which employed over 200,000 people before the unrest, by at least 30%, a Foxconn source told Reuters on Thursday.
Foxconn has already upped bonuses for existing workers, and is offering higher pay packages for new workers.
On Tuesday, it also put out a call for workers who left to return saying that the factory's operations and life there was slowing returning to normal as the COVID situation there improved, according to a separate statement from the same WeChat account.
Zhengzhou city late on Tuesday announced the "orderly" resumption of businesses, including supermarkets, gyms and restaurants, though it also published a long list of buildings that would remain under lockdown.
On Wednesday, the Zhengzhou Airport Economic Zone where the Foxconn plant is located, said it would undertake those measures from Dec. 1.
Foxconn did not immediately respond to a request for comment on whether it the relaxation of rules would be implemented at its Zhengzhou site, or if it would continue to implement a closed loop system, which sees the company isolate the factory and workers.
($1 = 7.0869 Chinese yuan renminbi)
(Reporting by Brenda Goh in Shanghai; Ben Blanchard in Taipei; Editing by Frank Jack Daniel)
((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters Messaging: brenda.goh.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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Refiles to fix extraneous words in paragraph 8, add dropped word in paragraph 2 SHANGHAI, Nov 30 (Reuters) - Apple AAPL.O supplier Foxconn on Wednesday offered a 1,000 yuan ($141.11) award to staff who successfully recommend people to work at its plant in China's Zhengzhou city, as it tries to replenish depleted staff numbers there after recent unrest. Apple and Foxconn have warned that iPhone shipments will be impacted by the events of the past month at the giant plant, which saw tens of thousands of workers flee after it was hit by COVID. Zhengzhou city late on Tuesday announced the "orderly" resumption of businesses, including supermarkets, gyms and restaurants, though it also published a long list of buildings that would remain under lockdown.
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Refiles to fix extraneous words in paragraph 8, add dropped word in paragraph 2 SHANGHAI, Nov 30 (Reuters) - Apple AAPL.O supplier Foxconn on Wednesday offered a 1,000 yuan ($141.11) award to staff who successfully recommend people to work at its plant in China's Zhengzhou city, as it tries to replenish depleted staff numbers there after recent unrest. The offer was made on the WeChat account belonging to the plant's recruitment team, which said workers would receive 500 yuan if the person stayed for 15 days, and another 500 yuan if they made it to a month. Typically, a Foxconn worker makes between 3,000 to 4,000 yuan a month.
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Refiles to fix extraneous words in paragraph 8, add dropped word in paragraph 2 SHANGHAI, Nov 30 (Reuters) - Apple AAPL.O supplier Foxconn on Wednesday offered a 1,000 yuan ($141.11) award to staff who successfully recommend people to work at its plant in China's Zhengzhou city, as it tries to replenish depleted staff numbers there after recent unrest. The offer was made on the WeChat account belonging to the plant's recruitment team, which said workers would receive 500 yuan if the person stayed for 15 days, and another 500 yuan if they made it to a month. Foxconn did not immediately respond to a request for comment on whether it the relaxation of rules would be implemented at its Zhengzhou site, or if it would continue to implement a closed loop system, which sees the company isolate the factory and workers.
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Refiles to fix extraneous words in paragraph 8, add dropped word in paragraph 2 SHANGHAI, Nov 30 (Reuters) - Apple AAPL.O supplier Foxconn on Wednesday offered a 1,000 yuan ($141.11) award to staff who successfully recommend people to work at its plant in China's Zhengzhou city, as it tries to replenish depleted staff numbers there after recent unrest. The offer was made on the WeChat account belonging to the plant's recruitment team, which said workers would receive 500 yuan if the person stayed for 15 days, and another 500 yuan if they made it to a month. Typically, a Foxconn worker makes between 3,000 to 4,000 yuan a month.
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18224.0
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2022-11-30 00:00:00 UTC
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3 Reasons I'm Avoiding Meta Platforms Stock For Now
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AAPL
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https://www.nasdaq.com/articles/3-reasons-im-avoiding-meta-platforms-stock-for-now
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nan
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nan
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It's been a rough 2022 for the overall stock market, to say the least. All major indexes and many blue chip stocks saw their stock prices plummet this year, but few companies have been hit as hard as Facebook parent Meta Platforms (NASDAQ: META). As of Nov. 28, Meta was down more than 67% year to date, and there's little reason to believe that things won't get worse before they get noticeably better.
Here are three reasons why I wouldn't touch Meta's stock with a 10-foot pole right now.
1. Meta's revenue is declining
Meta's main source of revenue is selling ads, and until the second quarter of 2022, the company had never experienced a decline in revenue since it went public in May 2012. Unfortunately, Meta followed up its Q2 loss with a disappointing Q3, when its revenue fell 4% year over year to just $27.71 billion. Maybe more concerning, though, is that its operating income dropped by around 46%, from $10.42 billion in Q3 2021 to $5.66 billion in Q3 of this year.
Those earnings figures may be disappointing, but it's not the financials alone that make Meta an unappealing stock right now: It's the reason behind the disappointing earnings. Meta's core business, digital advertising, faces -- and will likely continue to face in the near future -- declining demand from advertisers because there's so much macroeconomic uncertainty.
2. Apple is stepping into the digital ad arena
Even when the digital advertising space sees better days (which it likely will), another formidable competitor is now looking to scrape away at Meta's bottom line: Apple (NASDAQ: AAPL). Apple initially released a privacy update to its operating software in 2021 that made it easier for users to control their data and control how much access app makers had to it. That made it way more difficult for companies like Meta to track users' online activity. Apple's move was seen by some as evidence that Apple is looking to disrupt Meta's business, especially given recent additional changes to its App Store guidelines.
Apple's newest rule says companies like Meta can allow people to buy and manage advertising campaigns, but any ad bought in a social media app (like Facebook and Instagram, for example) is considered a digital purchase, and Apple will take a 30% cut. This includes such things as "boosted" posts on Facebook. Meta was unsurprisingly upset about the move, even going as far as to tell CNBC that Apple is changing its policies to grow its own business while undercutting others in the digital economy.
The entrance of Apple into the advertising business and potentially disrupting what was effectively a duopoly between Meta and Alphabet's Google will undoubtedly affect Meta's revenue generation.
3. Meta's future may be too reliant on building a metaverse
It's no secret that Meta bet big on the metaverse becoming a part of daily life -- so much so that Mark Zuckerberg decided to change the company's name to better represent where he sees it headed. The problem is that Meta's metaverse vision isn't quite in line with reality (no pun intended). Its Reality Labs segment, which operates all things metaverse, lost $3.67 billion in Q3, bringing the total loss to $9.43 billion so far this year.
It's common for projects of this scale to lose money before they can make money, but those generally have a clearer roadmap in front of them. It would also be easier to justify such losses if the consensus was that people actually wanted the metaverse. Meta's core metaverse product, Horizon World, had an initial goal of reaching 500,000 monthly active users (MUAs) by the end of 2022, but growth was so slow that the company lowered its target to 280,000. As of October, the number of MUAs was less than 200,000.
Other big tech companies are making their own investments into metaverse-related projects, but it seems Zuckerberg is betting Meta's future on its ability to bring the metaverse to the mainstream. It may eventually be successful in doing so, but it could also be very unsuccessful in doing so. Either way, pivoting a company of its size into something others would generally keep as a side project seems like a risky bet right now.
10 stocks we like better than Meta Platforms, Inc.
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*Stock Advisor returns as of November 7, 2022
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. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Stefon Walters has positions in Apple. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Apple, and Meta Platforms, Inc. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Apple is stepping into the digital ad arena Even when the digital advertising space sees better days (which it likely will), another formidable competitor is now looking to scrape away at Meta's bottom line: Apple (NASDAQ: AAPL). Meta was unsurprisingly upset about the move, even going as far as to tell CNBC that Apple is changing its policies to grow its own business while undercutting others in the digital economy. Meta's core metaverse product, Horizon World, had an initial goal of reaching 500,000 monthly active users (MUAs) by the end of 2022, but growth was so slow that the company lowered its target to 280,000.
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Apple is stepping into the digital ad arena Even when the digital advertising space sees better days (which it likely will), another formidable competitor is now looking to scrape away at Meta's bottom line: Apple (NASDAQ: AAPL). Meta's core business, digital advertising, faces -- and will likely continue to face in the near future -- declining demand from advertisers because there's so much macroeconomic uncertainty. See the 10 stocks *Stock Advisor returns as of November 7, 2022 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors.
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Apple is stepping into the digital ad arena Even when the digital advertising space sees better days (which it likely will), another formidable competitor is now looking to scrape away at Meta's bottom line: Apple (NASDAQ: AAPL). All major indexes and many blue chip stocks saw their stock prices plummet this year, but few companies have been hit as hard as Facebook parent Meta Platforms (NASDAQ: META). Meta's future may be too reliant on building a metaverse It's no secret that Meta bet big on the metaverse becoming a part of daily life -- so much so that Mark Zuckerberg decided to change the company's name to better represent where he sees it headed.
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Apple is stepping into the digital ad arena Even when the digital advertising space sees better days (which it likely will), another formidable competitor is now looking to scrape away at Meta's bottom line: Apple (NASDAQ: AAPL). Unfortunately, Meta followed up its Q2 loss with a disappointing Q3, when its revenue fell 4% year over year to just $27.71 billion. Its Reality Labs segment, which operates all things metaverse, lost $3.67 billion in Q3, bringing the total loss to $9.43 billion so far this year.
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18225.0
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2022-11-30 00:00:00 UTC
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Smart Investors Should Buy These 3 Stocks, Down Between 46% and 73%, Heading Into 2023
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AAPL
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https://www.nasdaq.com/articles/smart-investors-should-buy-these-3-stocks-down-between-46-and-73-heading-into-2023
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nan
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nan
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It's prime time for holiday shopping and investors should be no exception. In fact, 2022 left many great stocks trading at steep discounts, despite their businesses' long-term strength.
Some stocks saw their prices affected by short-term headwinds while others seem to simply get caught up in the market downturn, through no fault of their own. Here are three stocks that were beaten down this year but are smart buys heading into 2023.
1. Apple is still one of the best businesses in the world
When compared to what analysts were expecting, Apple's (NASDAQ: AAPL) fourth-quarter results were a mixed bag. The consumer tech company beat estimates for revenue and earnings per share (EPS), but iPhone and services revenue was lighter than what Wall Street was expecting. Management also provided some insights for Q1 that put a damper on expectations.
When analyzing Apple's results, it's easy to forget that even the largest and most successful companies in the world hit bumps in the road -- and that's what this quarter represented. There's nothing to suggest Apple is in bad shape for the future, yet the stock price is down roughly 20% year to date.
Apple also generates billions in free cash flow and uses it to reward shareholders. While its dividend yield of 0.63% is nothing to write home about, the company has reduced its shares outstanding by 39% over the past 10 years. This reduced share count means each shareholder's piece of the company is larger than it was.
Apple stock is a great anchor for any portfolio and this year's market downturn has given it to investors at a discount.
2. Nvidia's diversification helps with cyclicality
Computer chip designer Nvidia (NASDAQ: NVDA) also had mixed results in its recently reported quarter. Third-quarter revenue of $5.9 billion declined 17% year over year and earnings per share of $0.27 represented a 72% decrease from the year-ago quarter.
Because Nvidia operates in a cyclical industry, quarters like this are to be expected. In fact, the company's 17% revenue decline actually beat analysts' expectations. While Nvidia is likely to face some challenging quarters ahead, its market diversification should help blunt the impact of a cyclical downturn.
SEGMENT
Q3 2022
Q3 2023
CHANGE
Data center
$2.9 billion
$3.8 billion
31%
Gaming
$3.2 billion
$1.6 billion
(51%)
Professional visualization
$577 million
$200 million
(65%)
Auto
$135 million
$251 million
86%
Data source: Nvidia.
As the chart shows, while Nvidia's gaming and professional visualization businesses were down due to those markets hitting a downturn, growth in data centers and autos was strong. This is an advantage of Nvidia's business model. Its exposure to these four distinct markets insulates it from a downturn in any one or two of them.
Like many stocks in the tech sector, Nvidia's share price took a hit and is down roughly 46% year to date. Considering its role in a crucial industry, I view the current price as a buying opportunity.
3. Shopify is learning from its pandemic mistake
Once a pandemic darling, e-commerce services provider Shopify (NYSE: SHOP) fell on hard times and its shares are down 73% year to date. Some of this decline came in July when Shopify announced it was laying off 10% of its workforce. In the announcement of the layoffs, CEO Tobi Lütke was up-front about his mistaken assumption that the pandemic-fueled growth would be permanent. In reality, Shopify found itself in line with its original pre-pandemic expectations for growth.
In the recently reported quarter, Shopify seemed to be slowly heading back in the right direction. Third-quarter revenue of $1.4 billion beat analyst estimates and represented a 22% increase year over year. Gross merchandise volume (GMV), which is the value of all the products sold over Shopify's platform, was up 11% to $46 billion even in the face of macro-environmental challenges as well as a 4% negative impact from foreign exchange rates.
While Shopify's net loss under generally accepted accounting principles (GAAP) worsened compared to the year-ago quarter, the company made progress toward profitability on an adjusted basis. Adjusted gross profit increased 11% to $682 and the adjusted net loss of $30 million was an improvement over the net loss of $103 million in Q3 of 2021.
At the time of this writing, Shopify has a price-to-sales (P/S) ratio of 9.7, which is near its five-year low of 6.5 seen earlier this year, and it's significantly below its five-year average P/S multiple of 29.6.
Investors should watch Shopify over the next several quarters to see if its post-pandemic realizations translate to continued revenue and GMV growth as well as improving profitability. However, for those who see the bright spots in the Q3 results as enough of a signal that the business is on the right track, shares look like a good bargain heading into 2023.
10 stocks we like better than Apple
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Jeff Santoro has positions in Apple, Nvidia, and Shopify. The Motley Fool has positions in and recommends Apple, Nvidia, and Shopify. The Motley Fool recommends the following options: long January 2023 $1,140 calls on Shopify, long March 2023 $120 calls on Apple, short January 2023 $1,160 calls on Shopify, and short March 2023 $130 calls on 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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Apple is still one of the best businesses in the world When compared to what analysts were expecting, Apple's (NASDAQ: AAPL) fourth-quarter results were a mixed bag. As the chart shows, while Nvidia's gaming and professional visualization businesses were down due to those markets hitting a downturn, growth in data centers and autos was strong. Gross merchandise volume (GMV), which is the value of all the products sold over Shopify's platform, was up 11% to $46 billion even in the face of macro-environmental challenges as well as a 4% negative impact from foreign exchange rates.
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Apple is still one of the best businesses in the world When compared to what analysts were expecting, Apple's (NASDAQ: AAPL) fourth-quarter results were a mixed bag. Data center $2.9 billion $3.8 billion 31% Gaming $3.2 billion $1.6 billion (51%) Professional visualization $577 million $200 million (65%) Auto $135 million $251 million 86% Data source: Nvidia. Third-quarter revenue of $1.4 billion beat analyst estimates and represented a 22% increase year over year.
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Apple is still one of the best businesses in the world When compared to what analysts were expecting, Apple's (NASDAQ: AAPL) fourth-quarter results were a mixed bag. Data center $2.9 billion $3.8 billion 31% Gaming $3.2 billion $1.6 billion (51%) Professional visualization $577 million $200 million (65%) Auto $135 million $251 million 86% Data source: Nvidia. See the 10 stocks *Stock Advisor returns as of November 7, 2022 Jeff Santoro has positions in Apple, Nvidia, and Shopify.
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Apple is still one of the best businesses in the world When compared to what analysts were expecting, Apple's (NASDAQ: AAPL) fourth-quarter results were a mixed bag. Third-quarter revenue of $5.9 billion declined 17% year over year and earnings per share of $0.27 represented a 72% decrease from the year-ago quarter. In fact, the company's 17% revenue decline actually beat analysts' expectations.
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18226.0
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2022-11-30 00:00:00 UTC
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Tata in talks to buy Wistron's India facility for up to $613 mln -report
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AAPL
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https://www.nasdaq.com/articles/tata-in-talks-to-buy-wistrons-india-facility-for-up-to-%24613-mln-report
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nan
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nan
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Adds details, background
BENGALURU, Nov 30 (Reuters) - Tata Group is in talks to buy Wistron Corp's 3231.TW only manufacturing facility in India for up to 50 billion rupees ($612.6 million), the Economic Times business daily reported Wednesday, citing people familiar with the discussions.
If it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with Taiwan's Wistron – one of Apple Inc's AAPL.O top vendors in India – the report said, citing sources close to Tata.
Tata Electronics, a unit of salt-to-software conglomerate Tata Group, already supplies components to Apple from its Hosur unit in Tamil Nadu, which neighbours Karnataka, according to the report.
Tata, Wistron and Apple did not immediately respond to Reuters' e-mailed requests for comment.
Bloomberg had reported in September that Tata was in talks with Wistron to establish a joint venture to assemble iPhones in India.
Currently, iPhones are assembled in India by at least three of Apple's global suppliers – Wistron in Karnataka, as well as Foxconn 2317.TW and Pegatron 4938.TW in Tamil Nadu.
Cupertino, California-headquartered Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government's push for local manufacturing.
J.P.Morgan analysts estimate Apple may make one out of four iPhones in India by 2025 as the tech giant moves some production away from China, amid mounting geopolitical tensions and strict COVID-19 lockdowns in the country.
(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Savio D'Souza)
((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))
The views and 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 it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with Taiwan's Wistron – one of Apple Inc's AAPL.O top vendors in India – the report said, citing sources close to Tata. Adds details, background BENGALURU, Nov 30 (Reuters) - Tata Group is in talks to buy Wistron Corp's 3231.TW only manufacturing facility in India for up to 50 billion rupees ($612.6 million), the Economic Times business daily reported Wednesday, citing people familiar with the discussions. Cupertino, California-headquartered Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government's push for local manufacturing.
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If it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with Taiwan's Wistron – one of Apple Inc's AAPL.O top vendors in India – the report said, citing sources close to Tata. Adds details, background BENGALURU, Nov 30 (Reuters) - Tata Group is in talks to buy Wistron Corp's 3231.TW only manufacturing facility in India for up to 50 billion rupees ($612.6 million), the Economic Times business daily reported Wednesday, citing people familiar with the discussions. Bloomberg had reported in September that Tata was in talks with Wistron to establish a joint venture to assemble iPhones in India.
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If it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with Taiwan's Wistron – one of Apple Inc's AAPL.O top vendors in India – the report said, citing sources close to Tata. Adds details, background BENGALURU, Nov 30 (Reuters) - Tata Group is in talks to buy Wistron Corp's 3231.TW only manufacturing facility in India for up to 50 billion rupees ($612.6 million), the Economic Times business daily reported Wednesday, citing people familiar with the discussions. Tata Electronics, a unit of salt-to-software conglomerate Tata Group, already supplies components to Apple from its Hosur unit in Tamil Nadu, which neighbours Karnataka, according to the report.
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If it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with Taiwan's Wistron – one of Apple Inc's AAPL.O top vendors in India – the report said, citing sources close to Tata. Tata, Wistron and Apple did not immediately respond to Reuters' e-mailed requests for comment. Currently, iPhones are assembled in India by at least three of Apple's global suppliers – Wistron in Karnataka, as well as Foxconn 2317.TW and Pegatron 4938.TW in Tamil Nadu.
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18227.0
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2022-11-30 00:00:00 UTC
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China's yuan gains, shrugs off weak factory survey as hopes grow for easing in COVID rules
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AAPL
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https://www.nasdaq.com/articles/chinas-yuan-gains-shrugs-off-weak-factory-survey-as-hopes-grow-for-easing-in-covid-rules
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nan
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nan
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By Georgina Lee
HONG KONG, Nov 30 (Reuters) - China's yuan edged up against the greenback on Wednesday, as traders shrugged off weak factory activity data and remained optimistic that the government would relax some of the strict measures used to pursue its zero-COVID strategy.
China's national health officials said on Tuesday that authorities would respond to public's "urgent concerns" and become more flexible in the implementation of anti-COVID restrictions.
Hopes for a further relaxation of the rules were fueled by a Bloomberg report that the central Chinese city of Zhengzhou, home of Apple Inc.'s AAPL.O largest manufacturing site, is lifting a lockdown on its main urban areas starting Wednesday. The report cited the local government's official WeChat account.
"The reopening process in China will likely resemble a two step forward, one step back situation, given the high COVID-19 outbreak (numbers) we have right now," said Alvin Tan, head of Asia currency strategy at RBC Capital Markets.
The spot yuan CNY=CFXS at one point firmed to 7.1339 per dollar, its strongest in six days, after opening at 7.1585. It was changing hands at 7.1416 at midday, 159 pips stronger than the previous late session close and 0.49% below the midpoint.
The People's Bank of China set the midpoint rate CNY=PBOC at 7.1769 per dollar prior to market open, firmer than the previous fix 7.1989.
The spot rate is currently allowed to trade with a range 2% above or below the official fixing on any given day, though there is growing speculation that the PBOC could widen the band some time in the future.
Economic data released on Wednesday underscored the challenge China faces revitalizing growth while the government sticks with its strict strategy to prevent the spread of COVID-19.
China's November manufacturing purchasing managers' index dropped to 48.2 in November, signaling a contraction in factory activity. It was the lowest reading in seven months and below analysts' expectations.
"We expect the onshore yuan to continue weakening gradually going forward, as the exchange rate will reflect that China's exports have been faltering," Tan said.
A persistent decline this month in a key yuan index - the trade-weighted China Foreign Exchange Trade System index .CFSCNYI - tracking the onshore yuan against 24 foreign currencies, has highlighted the drag that weaker exports are putting on the Chinese currency.
The offshore yuan CNH=D3 was trading 0.01% away from the onshore spot at 7.141 per dollar. It gained over 900 pips in the previous trading session, before narrowing its gain on Wednesday.
Offshore one-year non-deliverable forwards contracts (NDFs)CNY1YNDFOR=, considered the best available proxy for forward-looking market expectations of the yuan's value, traded at 6.9535, 3.21% away from the midpoint.
One-year NDFs are settled against the midpoint, not the spot rate.
The global dollar index .DXY fell to 106.655 from the previous close of 106.822.
The yuan market at 4:09AM GMT:
ONSHORE SPOT:
Item
Current
Previous
Change
PBOC midpoint CNY=SAEC
Spot yuan CNY=CFXS
Divergence from midpoint*
Spot change YTD
Spot change since 2005 revaluation
Key indexes:
Item
Current
Previous
Change
Thomson Reuters/HKEX CNH index
Dollar index
*Divergence of the dollar/yuan exchange rate. Negative number indicates that spot yuan is trading stronger than the midpoint. The People's Bank of China (PBOC) allows the exchange rate to rise or fall 2% from official midpoint rate it sets each morning.
OFFSHORE CNH MARKET
Instrument
Current
Difference from onshore
Offshore spot yuan CNH= *
Offshore non-deliverable forwards CNY1YNDFOR= **
*Premium for offshore spot over onshore CNY=CFXS
**Figure reflects difference from PBOC's official midpoint, since non-deliverable forwards are settled against the midpoint. CNY=SAEC.
(Reporting by Georgina Lee; Editing by Simon Cameron-Moore)
((Georgina.Lee@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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Hopes for a further relaxation of the rules were fueled by a Bloomberg report that the central Chinese city of Zhengzhou, home of Apple Inc.'s AAPL.O largest manufacturing site, is lifting a lockdown on its main urban areas starting Wednesday. By Georgina Lee HONG KONG, Nov 30 (Reuters) - China's yuan edged up against the greenback on Wednesday, as traders shrugged off weak factory activity data and remained optimistic that the government would relax some of the strict measures used to pursue its zero-COVID strategy. Economic data released on Wednesday underscored the challenge China faces revitalizing growth while the government sticks with its strict strategy to prevent the spread of COVID-19.
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Hopes for a further relaxation of the rules were fueled by a Bloomberg report that the central Chinese city of Zhengzhou, home of Apple Inc.'s AAPL.O largest manufacturing site, is lifting a lockdown on its main urban areas starting Wednesday. A persistent decline this month in a key yuan index - the trade-weighted China Foreign Exchange Trade System index .CFSCNYI - tracking the onshore yuan against 24 foreign currencies, has highlighted the drag that weaker exports are putting on the Chinese currency. Item Current Previous Change PBOC midpoint CNY=SAEC Spot yuan CNY=CFXS Divergence from midpoint* Spot change YTD Spot change since 2005 revaluation Key indexes: Item Current Previous Change Thomson Reuters/HKEX CNH index Dollar index *Divergence of the dollar/yuan exchange rate.
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Hopes for a further relaxation of the rules were fueled by a Bloomberg report that the central Chinese city of Zhengzhou, home of Apple Inc.'s AAPL.O largest manufacturing site, is lifting a lockdown on its main urban areas starting Wednesday. A persistent decline this month in a key yuan index - the trade-weighted China Foreign Exchange Trade System index .CFSCNYI - tracking the onshore yuan against 24 foreign currencies, has highlighted the drag that weaker exports are putting on the Chinese currency. Item Current Previous Change PBOC midpoint CNY=SAEC Spot yuan CNY=CFXS Divergence from midpoint* Spot change YTD Spot change since 2005 revaluation Key indexes: Item Current Previous Change Thomson Reuters/HKEX CNH index Dollar index *Divergence of the dollar/yuan exchange rate.
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Hopes for a further relaxation of the rules were fueled by a Bloomberg report that the central Chinese city of Zhengzhou, home of Apple Inc.'s AAPL.O largest manufacturing site, is lifting a lockdown on its main urban areas starting Wednesday. By Georgina Lee HONG KONG, Nov 30 (Reuters) - China's yuan edged up against the greenback on Wednesday, as traders shrugged off weak factory activity data and remained optimistic that the government would relax some of the strict measures used to pursue its zero-COVID strategy. The offshore yuan CNH=D3 was trading 0.01% away from the onshore spot at 7.141 per dollar.
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18228.0
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2022-11-30 00:00:00 UTC
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Sirius XM (SIRI) Partners With Maxar to Build Two Satellites
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AAPL
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https://www.nasdaq.com/articles/sirius-xm-siri-partners-with-maxar-to-build-two-satellites
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nan
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nan
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Sirius XM SIRI recently announced that it has once again partnered with Maxar Technologies MAXR, who will build and deliver two new geostationary communications satellites for SIRI.
These satellites are expected to help Sirius innovate and improve its service quality for subscribers and also expand the service area to deliver its continuous and reliable audio entertainment content to more people.
Maxar has been building satellites for Sirius for the past two decades with the first third-generation satellites SXM-9 and -10 launched last year. The launch of SXM-11 and -12 this year will bring the number of Maxar-built spacecraft for SiriusXM to 13.
As of September, there are more than 150 million SiriusXM-equipped vehicles on road in the United States and Canada. The twin high-powered digital audio radio satellites will ensure the best possible coverage across the states in both countries and provide the best customer experiences.
Sirius XM Enhances its Services Further
Along with strengthening its satellite availability, Sirius XM is also enhancing and upgrading its services to cater to the needs of its users.
Recently, it made algorithm improvements in Pandora, which scale up its model and add more signals derived from listener interactions with songs and artists to provide them with a personalized music experience.
Sirius XM Holdings Inc. Price and Consensus
Sirius XM Holdings Inc. price-consensus-chart | Sirius XM Holdings Inc. Quote
In SiriusXM, it made several in-vehicle personalization improvements to the 360L product, which includes data-driven music and talk recommendations on 4U TAB.
The enhancements to the 360L user interface have significantly increased engagement and discovery of new content, including one-touch access to Pandora artist stations from SiriusXM's Now Playing screen. These have made Sirius XM more user-friendly.
The improving models of Sirius XM have helped the company in bagging a significant deal with Lucid, an American electric vehicle manufacturer. From 2023, SiriusXM will be available for the first time in Lucid's full lineup of electric vehicles.
Besides this, the new and used vehicle penetration rates have continued to remain strong at 83% and 53%, respectively, for third-quarter fiscal 2022.
To keep this momentum on, Sirius has rolled out an updated version of SiriusXM on Apple's CarPlay with redesigned navigation, and a similar experience on Android Auto is expected in the coming months.
The company also plans to update the core SXM mobile app for iOS and Android with a design refresh that enhances navigation and streamlines content discovery.
Sirius XM’s revenue guidance for 2022 stands approximately at $9 billion while adjusted EBITDA is projected roughly around $2.8 billion.
Sirius XM’s shares have improved 1% year to date against the Zacks Consumer Discretionary Sector, which declined 34.4%.
Despite all the attractive enhancements being made by this Zacks Rank #4 (Sell) company, what comes as a headwind is the auto-sales softening as vehicle prices remain high in the ongoing inflation and hiking of interest rates. This could hinder the above-given guidance.
Sirius XM Faces Stiff Competition
Sirius faces stiff competition in the audio podcast industry from Apple AAPL and Spotify SPOT.
Apple’s shares have declined 21.7% year to date. Apple continues to bolster its presence in the music streaming space, backed by the acquisitions of Shazam and Asaii. The company diversified into the Augmented Reality (“AR”) market, differentiating its music service offerings and AR initiatives.
Spotify’s shares have lost 64.9% year to date. Spotify’s partnerships with Samsung and Google are expected to boost its subscriber base. Its solid focus on the personalization of playlists is more appreciated than that of Sirius.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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
Sirius XM Holdings Inc. (SIRI) : Free Stock Analysis Report
Maxar Technologies Inc. (MAXR) : Free Stock Analysis Report
Spotify Technology (SPOT) : 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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Sirius XM Faces Stiff Competition Sirius faces stiff competition in the audio podcast industry from Apple AAPL and Spotify SPOT. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Sirius XM Holdings Inc. (SIRI) : Free Stock Analysis Report Maxar Technologies Inc. (MAXR) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. Recently, it made algorithm improvements in Pandora, which scale up its model and add more signals derived from listener interactions with songs and artists to provide them with a personalized music experience.
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Sirius XM Faces Stiff Competition Sirius faces stiff competition in the audio podcast industry from Apple AAPL and Spotify SPOT. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Sirius XM Holdings Inc. (SIRI) : Free Stock Analysis Report Maxar Technologies Inc. (MAXR) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. Sirius XM Holdings Inc. Price and Consensus Sirius XM Holdings Inc. price-consensus-chart | Sirius XM Holdings Inc. Quote In SiriusXM, it made several in-vehicle personalization improvements to the 360L product, which includes data-driven music and talk recommendations on 4U TAB.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Sirius XM Holdings Inc. (SIRI) : Free Stock Analysis Report Maxar Technologies Inc. (MAXR) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. Sirius XM Faces Stiff Competition Sirius faces stiff competition in the audio podcast industry from Apple AAPL and Spotify SPOT. Sirius XM Enhances its Services Further Along with strengthening its satellite availability, Sirius XM is also enhancing and upgrading its services to cater to the needs of its users.
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Sirius XM Faces Stiff Competition Sirius faces stiff competition in the audio podcast industry from Apple AAPL and Spotify SPOT. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Sirius XM Holdings Inc. (SIRI) : Free Stock Analysis Report Maxar Technologies Inc. (MAXR) : Free Stock Analysis Report Spotify Technology (SPOT) : Free Stock Analysis Report To read this article on Zacks.com click here. Sirius XM Enhances its Services Further Along with strengthening its satellite availability, Sirius XM is also enhancing and upgrading its services to cater to the needs of its users.
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18229.0
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2022-11-29 00:00:00 UTC
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Why Apple Stock Fell Today
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AAPL
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https://www.nasdaq.com/articles/why-apple-stock-fell-today-0
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nan
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nan
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What happened
Shares of Apple (NASDAQ: AAPL) declined by 2.1% on Tuesday after TF International Securities analyst Ming-Chi Kuo warned that the tech giant's smartphone shipments could come in far below investors' expectations.
So what
With COVID-19 cases surging in China, health officials are attempting to contain outbreaks by instituting strict lockdown measures. This has sparked a wave of protests against the Chinese government's zero-COVID policy.
The worrisome combination of soaring coronavirus infections, stifling lockdowns, and intensifying civil unrest is weighing heavily on China's economy. It's also taking a heavy toll on Apple's ability to manufacture its products in the country.
Kuo estimates that Apple will ship 15 million to 20 million fewer iPhone 14 Pro and 14 Pro Max phones in the quarter ending in December, due in part to protests at the iPhone factory in Zhengzhou. In turn, the analyst slashed the total iPhone shipment forecast by 20% to between 70 million and 75 million units. Kuo noted that this new projection is significantly below the average analyst estimate for iPhone shipments of 80 million to 85 million.
Now what
Considering this expected shortfall in sales of these higher-priced iPhone models, Kuo warned that Apple's revenue could come in more than 30% below investors' expectations in the holiday quarter. Worse still, Kuo cautioned that a significant portion of these missed iPhone sales could be lost, rather than simply delayed, as more consumers opt for less expensive phones instead of waiting for the Pro models to come back in stock.
10 stocks we like better than Apple
When our award-winning 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 November 7, 2022
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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What happened Shares of Apple (NASDAQ: AAPL) declined by 2.1% on Tuesday after TF International Securities analyst Ming-Chi Kuo warned that the tech giant's smartphone shipments could come in far below investors' expectations. The worrisome combination of soaring coronavirus infections, stifling lockdowns, and intensifying civil unrest is weighing heavily on China's economy. Worse still, Kuo cautioned that a significant portion of these missed iPhone sales could be lost, rather than simply delayed, as more consumers opt for less expensive phones instead of waiting for the Pro models to come back in stock.
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What happened Shares of Apple (NASDAQ: AAPL) declined by 2.1% on Tuesday after TF International Securities analyst Ming-Chi Kuo warned that the tech giant's smartphone shipments could come in far below investors' expectations. Kuo estimates that Apple will ship 15 million to 20 million fewer iPhone 14 Pro and 14 Pro Max phones in the quarter ending in December, due in part to protests at the iPhone factory in Zhengzhou. Kuo noted that this new projection is significantly below the average analyst estimate for iPhone shipments of 80 million to 85 million.
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What happened Shares of Apple (NASDAQ: AAPL) declined by 2.1% on Tuesday after TF International Securities analyst Ming-Chi Kuo warned that the tech giant's smartphone shipments could come in far below investors' expectations. Kuo estimates that Apple will ship 15 million to 20 million fewer iPhone 14 Pro and 14 Pro Max phones in the quarter ending in December, due in part to protests at the iPhone factory in Zhengzhou. See the 10 stocks *Stock Advisor returns as of November 7, 2022 Joe Tenebruso has no position in any of the stocks mentioned.
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What happened Shares of Apple (NASDAQ: AAPL) declined by 2.1% on Tuesday after TF International Securities analyst Ming-Chi Kuo warned that the tech giant's smartphone shipments could come in far below investors' expectations. Kuo estimates that Apple will ship 15 million to 20 million fewer iPhone 14 Pro and 14 Pro Max phones in the quarter ending in December, due in part to protests at the iPhone factory in Zhengzhou. That's right -- they think these 10 stocks are even better buys.
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18230.0
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2022-11-29 00:00:00 UTC
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7 Stocks to Buy That Will Make You a Multi-Millionaire
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AAPL
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https://www.nasdaq.com/articles/7-stocks-to-buy-that-will-make-you-a-multi-millionaire
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The stock market took a beating this year, especially tech stocks, with many of them down significantly. Then again, with margins declining and interest rates rising, investors are no longer willing to pay a premium and have retreated to defensive stocks. However, this also means that many companies with solid fundamentals are left undervalued. Contrarian investors should exploit this opportunity as these stocks to buy will offer remarkable gains once monetary policy inevitably flips.
Tech stocks to buy currently offer a very compelling opportunity with the selloff. Sure, many big tech companies have seen their ad revenues shrink and have been laying off workers to avoid disappointing investors. All of this is expected since tech stocks are very cyclical and prone to economic headwinds. However, these volatile stocks will also give you the best bang for your buck if you buy during bad times.
Big techs are the best stocks to buy if you want economic turmoil to work in your favor in the long term. They offer much higher rewards when the market turns a corner. These tech companies are evergreen industry leaders, meaning their products and services are always in high demand. This gives them a competitive advantage and makes them more likely to succeed in the long term. Additionally, the technology sector is growing at a phenomenal long-term rate. Thus the following seven stocks to buy should be considered:
MSFT Microsoft $239.36
GOOG GOOGL Alphabet $95.23
AMZN Amazon $91.82
AAPL Apple $140.80
META Meta Platforms $109.13
NFLX Netflix $279.77
NET Cloudflare $44.86
Microsoft (MSFT)
Source: Asif Islam / Shutterstock.com
Microsoft (NASDAQ:MSFT) is among the most visionary companies in tech, and its top line is still growing as white-collar businesses can’t seem to get enough of Microsoft products. It is among the best stocks to buy and a prime example of how tech companies are firing on all cylinders. Much like Alphabet, this company’s cloud business is one of the fastest-growing and most profitable segments in tech and is quickly becoming the primary driver of growth.
Microsoft’s long-term investments in the future are also paying off. The company’s efforts to build a new generation of computer interfaces and intelligent services are going exceptionally well.
Conversely, yearly net income has fallen to $69.9 billion from $72.7 billion. However, as with many other businesses, Microsoft’s poor profit growth is likely the result of unsustainably high post-Covid growth. Growth cooling off doesn’t mean that the stock isn’t a buy, in any case. In the long term, quarterly profits are growing quickly, from $11.6 billion in Q4 2019 to $17.6 billion in the latest quarter.
Thus, Microsoft’s future looks incredibly bright in the long run, and investors can expect it to deliver strong returns in the years ahead.
Alphabet (GOOG, GOOGL)
Source: IgorGolovniov / Shutterstock.com
Alphabet (NASDAQ:GOOG GOOGL) is a stock I’ve written about in two of my recent articles, and I see no reason to leave it out of this one either. Alphabet’s top line is still growing at a healthy clip, while the company’s cloud business segment’s growth accelerated to 38% year-on-year.
Analysts expect Alphabet to generate $306.23 billion in revenue next year, up from $283.66 billion this year. Earnings per share could also rise to 5.29 next year. These figures are impressive, but Alphabet did miss its Q3 expectations and could continue that trend. Still, those disappointments are already discounted in a stock that lost a third of its value year-to-date.
The best-case scenario for Alphabet will unfold when the broader economy bounces back. I expect advertising revenue to surge once businesses return to spending large amounts on marketing. Alphabet is also making significant investments in future growth. The company’s AI and machine learning efforts are paying off in products like Google Assistant, Google Home, and the Pixel phone. As I’ve previously mentioned, Google’s cloud business is also growing rapidly.
Finally, Alphabet owns the top two websites worldwide, which aren’t fading out of relevancy anytime soon. With all that in mind, GOOG stock is certainly one of the best stocks to buy.
Amazon (AMZN)
Source: Tada Images / Shutterstock.com
Amazon (NASDAQ:AMZN) is one of the most dynamic and disruptive companies in the world. The firm’s retail business is still growing at a double-digit clip, but its web services business is surging and is becoming the primary driver of its growth. AWS sales jumped 27% in Q3, surpassing Amazon’s other major segments.
AWS is one of the most profitable and disruptive segments in tech. The company’s long-term investment in building out a global cloud infrastructure is finally paying off, with profits rising from $11.6 billion to $20.5 billion in just two years. AWS is now the world’s most profitable cloud business, far ahead of Google and Microsoft.
Conversely, the company’s ad and e-commerce segments are sluggish compared to 2021 but rose 25% and 13% in Q3. Amazon’s advertising business is no longer in its early stages but is still growing remarkably fast. Once the bottom line recovers, I see a substantial upside for AMZN stock.
Apple (AAPL)
Source: Moab Republic / Shutterstock
Apple’s (NASDAQ:AAPL) stock is down 20% this year, making it an intriguing contrarian buy. Although investors are worried about the stock’s growth trajectory, one should remember that Apple faced similar situations in 2016 and 2018 as growth slowed and the stock declined by around 28%. However, investors still found the company’s underlying fundamentals compelling, and AAPL doubled in value in the following years as growth stabilized. Of course, that may not be the case in the years following 2022, but growth will inevitably return as Apple won’t have to compete with its 2021 figures in a stagflationary environment.
Apple’s core business is far from slowing, and the firm is investing in future growth. Apple is transitioning from its hardware-based business model by investing in new services and AI efforts. The company is also building out its subscription business, which includes services like Apple Music, iCloud, and Apple TV+.
Apple is investing in the future of augmented reality, including the acquisition of virtual reality startup Spaces. It is also rumored to launch its AR and VR headset in 2023, putting it at the forefront of this next big tech trend.
Meta Platforms (META)
Source: Aleem Zahid Khan / Shutterstock.com
Meta Platforms (NASDAQ:META) is one of the best stocks to buy for contrarian investors. As I’ve mentioned in my recent articles, Meta owns the “Family of Apps,” which generated operating profits of $32 billion this year. In comparison, spending on Reality Labs was $9.4 billion, which is far from unsustainable as many investors fear it to be.
In addition, that $9.4 billion is well-spent. Meta is making substantial progress in developing artificial intelligence and virtual reality technologies. These projects might not be as exciting to woo investors in 2022, but the atmosphere could change rapidly a few years later.
Still, let’s say the metaverse project does fail entirely. That still does not explain how undervalued the company’s core business is getting. We are looking at a 10.4x price-earnings ratio for a tech company that owns Facebook, Messenger, Instagram, WhatsApp, and Oculus. With that in mind, Meta is undoubtedly one of the most undervalued stocks to buy in 2022.
Netflix (NFLX)
Source: Kaspars Grinvalds / Shutterstock.com
With a compelling growth story, Netflix (NASDAQ:NFLX) is one of the best stocks to buy for long-term investors. The company’s streaming business is still growing despite the pandemic boost, but profit growth is even more impressive. Compared to Q4 2019, profits have grown 170% TTM while the stock price is still below late 2019 figures.
On the other hand, top-line growth has slowed down but is still growing at a healthy clip. We could still see top-line growth trend higher with the recent adjustments to Netflix’s account-sharing rules and adding ads to the platform, which opens more revenue pathways.
2022 is a year where Netflix needs to readjust and adapt to the current environment for long-term growth, as not many people binge-watch as they did during the pandemic. In addition, the stock has already recovered quite a lot, trading at 25 times earnings. However, once the platform adjusts to accommodate more revenue sources and margins improve, I see a substantial upside in the long run.
Cloudflare (NET)
Source: IgorGolovniov / Shutterstock.com
Cloudflare (NYSE:NET) is a web security firm founded in 2010 by Matthew Prince. Despite being a relatively new company, Cloudflare became publicly traded in late 2018 through a successful IPO. As with many tech companies, 2022 was an awful year for Cloudflare, with stock prices down 64% YTD.
Although the company is yet to be profitable, it has remarkable top-line growth, helping its bottom line narrow. Revenue is consistently growing near 50% YoY while margins are making a recovery and surpassing expectations.
Investors are pulling out of unprofitable companies, such as Cloudflare. However, it currently looks too oversold, and its high revenue growth will warrant a more premium valuation once profits turn green.
On the date of publication, Omor Ibne Ehsan 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.
Omor Ibne Ehsan is a writer at InvestorPlace. He is also an active contributor to a variety of finance and crypto-related websites. He has a strong background in economics and finance and is a self taught investor. You can follow him on LinkedIn.
The post 7 Stocks to Buy That Will Make You a Multi-Millionaire 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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Thus the following seven stocks to buy should be considered: MSFT Microsoft $239.36 GOOG GOOGL Alphabet $95.23 AMZN Amazon $91.82 AAPL Apple $140.80 META Meta Platforms $109.13 NFLX Netflix $279.77 NET Cloudflare $44.86 Microsoft (MSFT) Source: Asif Islam / Shutterstock.com Microsoft (NASDAQ:MSFT) is among the most visionary companies in tech, and its top line is still growing as white-collar businesses can’t seem to get enough of Microsoft products. Apple (AAPL) Source: Moab Republic / Shutterstock Apple’s (NASDAQ:AAPL) stock is down 20% this year, making it an intriguing contrarian buy. However, investors still found the company’s underlying fundamentals compelling, and AAPL doubled in value in the following years as growth stabilized.
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Thus the following seven stocks to buy should be considered: MSFT Microsoft $239.36 GOOG GOOGL Alphabet $95.23 AMZN Amazon $91.82 AAPL Apple $140.80 META Meta Platforms $109.13 NFLX Netflix $279.77 NET Cloudflare $44.86 Microsoft (MSFT) Source: Asif Islam / Shutterstock.com Microsoft (NASDAQ:MSFT) is among the most visionary companies in tech, and its top line is still growing as white-collar businesses can’t seem to get enough of Microsoft products. Apple (AAPL) Source: Moab Republic / Shutterstock Apple’s (NASDAQ:AAPL) stock is down 20% this year, making it an intriguing contrarian buy. However, investors still found the company’s underlying fundamentals compelling, and AAPL doubled in value in the following years as growth stabilized.
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Thus the following seven stocks to buy should be considered: MSFT Microsoft $239.36 GOOG GOOGL Alphabet $95.23 AMZN Amazon $91.82 AAPL Apple $140.80 META Meta Platforms $109.13 NFLX Netflix $279.77 NET Cloudflare $44.86 Microsoft (MSFT) Source: Asif Islam / Shutterstock.com Microsoft (NASDAQ:MSFT) is among the most visionary companies in tech, and its top line is still growing as white-collar businesses can’t seem to get enough of Microsoft products. Apple (AAPL) Source: Moab Republic / Shutterstock Apple’s (NASDAQ:AAPL) stock is down 20% this year, making it an intriguing contrarian buy. However, investors still found the company’s underlying fundamentals compelling, and AAPL doubled in value in the following years as growth stabilized.
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Thus the following seven stocks to buy should be considered: MSFT Microsoft $239.36 GOOG GOOGL Alphabet $95.23 AMZN Amazon $91.82 AAPL Apple $140.80 META Meta Platforms $109.13 NFLX Netflix $279.77 NET Cloudflare $44.86 Microsoft (MSFT) Source: Asif Islam / Shutterstock.com Microsoft (NASDAQ:MSFT) is among the most visionary companies in tech, and its top line is still growing as white-collar businesses can’t seem to get enough of Microsoft products. Apple (AAPL) Source: Moab Republic / Shutterstock Apple’s (NASDAQ:AAPL) stock is down 20% this year, making it an intriguing contrarian buy. However, investors still found the company’s underlying fundamentals compelling, and AAPL doubled in value in the following years as growth stabilized.
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18231.0
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2022-11-29 00:00:00 UTC
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ANALYSIS-Apple supply chain data shows receding exposure to China as risks mount
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AAPL
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https://www.nasdaq.com/articles/analysis-apple-supply-chain-data-shows-receding-exposure-to-china-as-risks-mount
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nan
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By Josh Horwitz
SHANGHAI, Nov 30 (Reuters) - Apple Inc's AAPL.O wide exposure to Chinese manufacturing, notable both for its low costs and rising risks, has receded since the COVID-19 pandemic began, company supply chain data shows.
With the world's biggest iPhone factory, operated in central China by Foxconn 2317.TW, battling production shortfalls and labour unrest spurred largely by Beijing's harsh virus containment policies, analysts expect the risks - and Apple's retreat - to accelerate.
A Reuters analysis of Apple's supply chain data shows China's prominence in the company's global manufacturing is declining: In the five years to 2019, China was the primary location of 44% to 47% of its suppliers' production sites, but that fell to 41% in 2020, and 36% in 2021.
The data shows how a diversification drive by Apple and its suppliers, with investments in India and Vietnam and increased procurement from Taiwan, the United States and elsewhere, is reshaping the global supply structure, although analysts and academics say it will remain heavily exposed to China for many years to come.
"The China supply chain is not going to evaporate overnight," said Eli Friedman, an associate professor at Cornell University who studies labour in China.
"Decoupling is just not realistic for these companies for the time being," he said, although he expected diversification to accelerate.
The concentration of suppliers in China, the site of most production by Foxconn which accounts for 70% of iPhones made globally, has been a key feature for Apple, the world's most profitable smartphone vendor.
But the strategy is shifting, driven not just by China's COVID-related lockdowns and restrictions, but by rising trade and geopolitical tensions between Beijing and Washington that pose potential long-term risks.
Foxconn is stepping up its expansion in India, with a plan to quadruple the workforce at its iPhone factory over two years, government officials with knowledge of the matter told Reuters earlier this month.
J.P.Morgan expects Apple to move about 5% of iPhone 14 production to India from late this year and to make one in four iPhones in India by 2025, and estimates that about 25% of all Apple products, including Mac PCs, iPads, Apple Watches and AirPods, will be manufactured outside China by 2025 versus 5% now.
The Apple supplier data to 2021, however, shows no locations so far that stand out as substantial gainers to match China's decline, according to the Reuters analysis.
The United States rose the most to 10.7% in 2021 from 7.2% in 2019, followed by Taiwan with an increase to 9.5% from 6.7%. India was still a relatively minor presence, rising to 1.5% from less than 1%, while Vietnam expanded to 3.7% from 2.2%.
"Vietnam and India are not China. They can't produce at that scale, at the quality and with the turnaround time, with the reliability of infrastructure," said Cornell University's Friedman.
Apple's annual data covers more than 600 locations among its top suppliers, which represent 98% of Apple's direct spending. Apple does not disclose how much it spends with each supplier, and those on the list can change each year as different companies make the cutoff among Apple's thousands of suppliers.
They include contract manufacturers that assemble iPhones, iPads, watches and wireless headphones, as well as suppliers of chips, glass, aluminium casings, cables, circuit boards and other components.
While Apple's shift from China is increasingly evident, including in its own supply chain data, so too are the risks from the concentration of operations there.
The labour issues at Foxconn's China plant are due in large part to the demands of Beijing's COVID containment policy, which require that workers be isolated from the wider world in closed-loop systems to keep factory lines operating.
The unrest has attracted the attention of investors, who are conscious of the human rights aspects as well as production targets.
"The important thing is that the company implements these orders in a way which respects people's rights," said Pia Gisgard, head of sustainability and governance at Swedbank Robur, which held Apple shares worth around $1.3 billion as of end-September according to Refinitiv data.
Falling out of favourhttps://tmsnrt.rs/3u6pWhU
(Reporting by Josh Horwitz; Additional reporting by Sarah Wu in Taipei and Simon Jessop in London; Editing by Miyoung Kim and Edmund Klamann)
((Josh.Horwitz@thomsonreuters.com; +86 21 20830007;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Josh Horwitz SHANGHAI, Nov 30 (Reuters) - Apple Inc's AAPL.O wide exposure to Chinese manufacturing, notable both for its low costs and rising risks, has receded since the COVID-19 pandemic began, company supply chain data shows. With the world's biggest iPhone factory, operated in central China by Foxconn 2317.TW, battling production shortfalls and labour unrest spurred largely by Beijing's harsh virus containment policies, analysts expect the risks - and Apple's retreat - to accelerate. The data shows how a diversification drive by Apple and its suppliers, with investments in India and Vietnam and increased procurement from Taiwan, the United States and elsewhere, is reshaping the global supply structure, although analysts and academics say it will remain heavily exposed to China for many years to come.
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By Josh Horwitz SHANGHAI, Nov 30 (Reuters) - Apple Inc's AAPL.O wide exposure to Chinese manufacturing, notable both for its low costs and rising risks, has receded since the COVID-19 pandemic began, company supply chain data shows. With the world's biggest iPhone factory, operated in central China by Foxconn 2317.TW, battling production shortfalls and labour unrest spurred largely by Beijing's harsh virus containment policies, analysts expect the risks - and Apple's retreat - to accelerate. A Reuters analysis of Apple's supply chain data shows China's prominence in the company's global manufacturing is declining: In the five years to 2019, China was the primary location of 44% to 47% of its suppliers' production sites, but that fell to 41% in 2020, and 36% in 2021.
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By Josh Horwitz SHANGHAI, Nov 30 (Reuters) - Apple Inc's AAPL.O wide exposure to Chinese manufacturing, notable both for its low costs and rising risks, has receded since the COVID-19 pandemic began, company supply chain data shows. A Reuters analysis of Apple's supply chain data shows China's prominence in the company's global manufacturing is declining: In the five years to 2019, China was the primary location of 44% to 47% of its suppliers' production sites, but that fell to 41% in 2020, and 36% in 2021. The data shows how a diversification drive by Apple and its suppliers, with investments in India and Vietnam and increased procurement from Taiwan, the United States and elsewhere, is reshaping the global supply structure, although analysts and academics say it will remain heavily exposed to China for many years to come.
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By Josh Horwitz SHANGHAI, Nov 30 (Reuters) - Apple Inc's AAPL.O wide exposure to Chinese manufacturing, notable both for its low costs and rising risks, has receded since the COVID-19 pandemic began, company supply chain data shows. A Reuters analysis of Apple's supply chain data shows China's prominence in the company's global manufacturing is declining: In the five years to 2019, China was the primary location of 44% to 47% of its suppliers' production sites, but that fell to 41% in 2020, and 36% in 2021. J.P.Morgan expects Apple to move about 5% of iPhone 14 production to India from late this year and to make one in four iPhones in India by 2025, and estimates that about 25% of all Apple products, including Mac PCs, iPads, Apple Watches and AirPods, will be manufactured outside China by 2025 versus 5% now.
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18232.0
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2022-11-29 00:00:00 UTC
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Twitter blue verified set to launch on Apple's iOS app - Information
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AAPL
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https://www.nasdaq.com/articles/twitter-blue-verified-set-to-launch-on-apples-ios-app-information
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nan
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nan
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Adds details, background
Nov 29 (Reuters) - Twitter Inc's Blue verified service is scheduled to roll out on Friday, but only on Apple's iOS AAPL.O mobile software, the Information reported on Tuesday, citing a person briefed on the plans.
As Twitter plans to launch the subscription offering via an update to Twitter's iOS app, it needs Apple's approval as part of the standard app review process, the report said, adding that the company would update its Android app later.
Twitter did not immediately respond to a Reuters request for comment.
This comes a day after new owner Elon Musk accused Apple of threatening to block the Twitter from its app store without saying why in a series of tweets that also said the iPhone maker had stopped advertising on the social media platform.
The billionaire CEO of Twitter and Tesla said Apple was pressuring Twitter over content moderation demands.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber)
((tiyashi.datta@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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Adds details, background Nov 29 (Reuters) - Twitter Inc's Blue verified service is scheduled to roll out on Friday, but only on Apple's iOS AAPL.O mobile software, the Information reported on Tuesday, citing a person briefed on the plans. This comes a day after new owner Elon Musk accused Apple of threatening to block the Twitter from its app store without saying why in a series of tweets that also said the iPhone maker had stopped advertising on the social media platform. (Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber) ((tiyashi.datta@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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Adds details, background Nov 29 (Reuters) - Twitter Inc's Blue verified service is scheduled to roll out on Friday, but only on Apple's iOS AAPL.O mobile software, the Information reported on Tuesday, citing a person briefed on the plans. As Twitter plans to launch the subscription offering via an update to Twitter's iOS app, it needs Apple's approval as part of the standard app review process, the report said, adding that the company would update its Android app later. (Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber) ((tiyashi.datta@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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Adds details, background Nov 29 (Reuters) - Twitter Inc's Blue verified service is scheduled to roll out on Friday, but only on Apple's iOS AAPL.O mobile software, the Information reported on Tuesday, citing a person briefed on the plans. As Twitter plans to launch the subscription offering via an update to Twitter's iOS app, it needs Apple's approval as part of the standard app review process, the report said, adding that the company would update its Android app later. This comes a day after new owner Elon Musk accused Apple of threatening to block the Twitter from its app store without saying why in a series of tweets that also said the iPhone maker had stopped advertising on the social media platform.
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Adds details, background Nov 29 (Reuters) - Twitter Inc's Blue verified service is scheduled to roll out on Friday, but only on Apple's iOS AAPL.O mobile software, the Information reported on Tuesday, citing a person briefed on the plans. As Twitter plans to launch the subscription offering via an update to Twitter's iOS app, it needs Apple's approval as part of the standard app review process, the report said, adding that the company would update its Android app later. Twitter did not immediately respond to a Reuters request for comment.
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18233.0
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2022-11-29 00:00:00 UTC
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GLOBAL MARKETS-Stocks dip while U.S. crude gains on China hopes
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AAPL
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https://www.nasdaq.com/articles/global-markets-stocks-dip-while-u.s.-crude-gains-on-china-hopes-0
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nan
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By Sinéad Carew and Tom Wilson
NEW YORK/LONDON, Nov 29 (Reuters) - The S&P 500 .SPX closed lower on Tuesday as investors awaited guidance on the Federal Reserve's path of interest rate hikes, while U.S. oil futures gained on hopes China loosens COVID-19 restrictions that have fueled fears about the global economy.
The U.S. dollar edged lower against the Japanese yen while the Aussie dollar jumped as sentiment improved on hopes China would ease on lockdowns after health officials discussed speeding up COVID vaccinations for elderly people.
U.S. Treasury yields rose ahead of a public appearance by Fed Chair Jerome Powell and a slew of data due later in the week. A survey released on Tuesday showed U.S. consumer confidence eased further in November amid persistent worries about the rising cost of living.
Richmond Fed President Thomas Barkin on Monday doused speculation the U.S. central bank would reverse course on interest rates relatively quickly next year in comments made late on Monday.
And after similar messages from other Fed officials on Monday, investors were warily awaiting Powell's comments at a Brookings Institution event on Wednesday about the outlook for the U.S. economy and the labor market. Earlier this month Powell had dashed hopes of policy easing after a Fed meeting.
"No one is willing to buy ahead of tomorrow with Powell speaking. Everyone is nervous about what he is going to say," said Ron Saba, senior portfolio manager at Horizon Investments in Charlotte.
However, Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia said earlier that weakening consumer confidence may have marginally helped to soften Treasury yields, weaken the dollar and boost stocks as investors viewed it as "ammunition for the Fed to soften its hawkish impulse."
While the Dow Jones Industrial Average .DJI rose 3.07 points, or 0.01%, to close at 33,852.53, the S&P 500 .SPX lost 6.31 points, or 0.16%, to end at 3,957.63.
The Nasdaq Composite .IXIC dropped 65.72 points, or 0.59%, to 10,983.78 with pressure from tech sector heavyweight AppleAAPL.O, which manufactures its iPhones in China and has been impacted by COVID-related protests there.
MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.01%.
U.S. Treasury yields rose in choppy trading as investors waited for upcoming data including third-quarter U.S. gross domestic product, Chicago manufacturing numbers, factory activity based on the Institute for Supply Management and non-farm payrolls for November due out Friday.
Benchmark 10-year note US10YT=RR yields were up 5 basis points at 3.752% from 3.702% late on Monday. The 30-year bond US30YT=RR yield was last up 5.6 basis points at 3.8049%.
In currencies the dollar index =USD rose 0.188%, with the euro EUR= down 0.11% to $1.0326.
The Japanese yen strengthened 0.19% versus the greenback at 138.68 per dollar, while Sterling GBP= was last trading at $1.1946, down 0.10% on the day.
The Aussie AUD=D3 was last up 0.54% against the dollar after earlier rising as much as 1.4%.
Oil prices climbed on hopes for a relaxation of China's strict COVID-19 controls which had fueled demand worries, but concerns that OPEC+ would keep its output unchanged at its upcoming meeting limited gains.
Five OPEC+ sources said OPEC+ is likely to keep oil output policy unchanged at its Sunday meeting, while two sources said an additional production cut was also likely to be considered. Neither, however, thought another cut was highly likely.
U.S. crude futures CLc1 settled up 1.24% at $78.20 per barrel while Brent LCOc1 finished at $83.03, down 0.2%.
Gold prices rose with help from the dollar's retreat and hopes for less aggressive U.S. rate hikes going forward.
Spot gold XAU= added 0.5% to $1,749.39 an ounce. U.S. gold futures GCc1 gained 0.45% to $1,748.10 an ounce.
GRAPHIC-World FX rates YTDhttp://tmsnrt.rs/2egbfVh
GRAPHIC-Global asset performancehttp://tmsnrt.rs/2yaDPgn
(Reporting by Sinéad Carew, Gertrude Chavez-Dreyfuss in New York, Noel Randewich in San Francisco, Tom Wilson in London and Wayne Cole in Sydney; Editing by Lisa Shumaker, Chizu Nomiyama and Chris Reese)
((sinead.carew@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Nasdaq Composite .IXIC dropped 65.72 points, or 0.59%, to 10,983.78 with pressure from tech sector heavyweight AppleAAPL.O, which manufactures its iPhones in China and has been impacted by COVID-related protests there. By Sinéad Carew and Tom Wilson NEW YORK/LONDON, Nov 29 (Reuters) - The S&P 500 .SPX closed lower on Tuesday as investors awaited guidance on the Federal Reserve's path of interest rate hikes, while U.S. oil futures gained on hopes China loosens COVID-19 restrictions that have fueled fears about the global economy. U.S. Treasury yields rose in choppy trading as investors waited for upcoming data including third-quarter U.S. gross domestic product, Chicago manufacturing numbers, factory activity based on the Institute for Supply Management and non-farm payrolls for November due out Friday.
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The Nasdaq Composite .IXIC dropped 65.72 points, or 0.59%, to 10,983.78 with pressure from tech sector heavyweight AppleAAPL.O, which manufactures its iPhones in China and has been impacted by COVID-related protests there. By Sinéad Carew and Tom Wilson NEW YORK/LONDON, Nov 29 (Reuters) - The S&P 500 .SPX closed lower on Tuesday as investors awaited guidance on the Federal Reserve's path of interest rate hikes, while U.S. oil futures gained on hopes China loosens COVID-19 restrictions that have fueled fears about the global economy. And after similar messages from other Fed officials on Monday, investors were warily awaiting Powell's comments at a Brookings Institution event on Wednesday about the outlook for the U.S. economy and the labor market.
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The Nasdaq Composite .IXIC dropped 65.72 points, or 0.59%, to 10,983.78 with pressure from tech sector heavyweight AppleAAPL.O, which manufactures its iPhones in China and has been impacted by COVID-related protests there. By Sinéad Carew and Tom Wilson NEW YORK/LONDON, Nov 29 (Reuters) - The S&P 500 .SPX closed lower on Tuesday as investors awaited guidance on the Federal Reserve's path of interest rate hikes, while U.S. oil futures gained on hopes China loosens COVID-19 restrictions that have fueled fears about the global economy. The U.S. dollar edged lower against the Japanese yen while the Aussie dollar jumped as sentiment improved on hopes China would ease on lockdowns after health officials discussed speeding up COVID vaccinations for elderly people.
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The Nasdaq Composite .IXIC dropped 65.72 points, or 0.59%, to 10,983.78 with pressure from tech sector heavyweight AppleAAPL.O, which manufactures its iPhones in China and has been impacted by COVID-related protests there. By Sinéad Carew and Tom Wilson NEW YORK/LONDON, Nov 29 (Reuters) - The S&P 500 .SPX closed lower on Tuesday as investors awaited guidance on the Federal Reserve's path of interest rate hikes, while U.S. oil futures gained on hopes China loosens COVID-19 restrictions that have fueled fears about the global economy. The Aussie AUD=D3 was last up 0.54% against the dollar after earlier rising as much as 1.4%.
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2022-11-29 00:00:00 UTC
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US STOCKS-Wall Street dips as growth shares offset energy gains
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-dips-as-growth-shares-offset-energy-gains
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nan
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By Shreyashi Sanyal
Nov 29 (Reuters) - Wall Street's main indexes fell on Tuesday as growth stocks extended declines, overshadowing a rise in energy shares after oil prices pared back gains on OPEC+ output concerns.
Market participants also focused on recent protests in China amid hopes that it could lead to a quicker easing of COVID-19 curbs by its government.
"China is a mixed picture because the protests create uncertainty, but at the same time, could be a catalyst for eventually a loosening in COVID policy," said Carl Ludwigson, managing director at Bel Air.
Gains in growth stocks earlier in the day proved short-lived, while U.S. Treasury yields rose. Investors also sold Treasuries as they anticipate details about Amazon.com Inc's AMZN.O highly anticipated multi-tranche corporate bond deal.
Shares of Microsoft Corp MSFT.O, Apple Inc AAPL.O, Netflix Inc NFLX.O and Amazon were down between 0.9% and 1.9%.
"We've got a reasonably strong rally into the fourth quarter. It's an opportunity perhaps to add to fixed income, which is more likely to do its job next year than it did this year, as the problem goes from inflation to economic growth," Ludwigson said.
The benchmark S&P 500 index .SPX is now headed for its second straight month of gains in November amid hopes of the U.S. Federal Reserve hiking interest rates in smaller increments and a handful of inflation readings showing a slight cooling in prices.
So far, the Fed has delivered four straight 75 basis point rate hikes, but is expected to shift down the pace to a 50-bps move in December. FEDWATCH
All eyes are now on Fed Chair Jerome Powell's speech on Wednesday for hints on how the central bank continues to deal with inflation.
A survey on Tuesday showed U.S. consumer confidence eased further in November amid persistent worries about the rising cost of living.
The S&P 500 energy sector index .SPNY was up only 0.6%, after rising as much as 2% earlier in the session. Oil prices pared gains on concerns that OPEC+ would keep its output unchanged at its December meeting.
At 12:24 p.m. ET the Dow Jones Industrial Average .DJI was down 109.35 points, or 0.32%, at 33,740.11, the S&P 500 .SPX was down 16.33 points, or 0.41%, at 3,947.61, and the Nasdaq Composite .IXIC was down 63.14 points, or 0.57%, at 10,986.36.
U.S.-listed shares of Chinese companies Alibaba Group Holding Ltd BABA.N, Pinduoduo Inc PDD.O and JD.com Inc JD.O rose between 5.7% and 8.9% as China broadened equity financing channels for property developers.
Shares of Chinese internet firm Bilibili Inc BILI.O jumped 22.2% after posting upbeat quarterly results.
Advancing issues outnumbered decliners for a 1.40-to-1 ratio on the NYSE and a 1.17-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and one new low, while the Nasdaq recorded 43 new highs and 123 new lows.
(Reporting by Shreyashi Sanyal and Ankika Biswas in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi))
The views and 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 Microsoft Corp MSFT.O, Apple Inc AAPL.O, Netflix Inc NFLX.O and Amazon were down between 0.9% and 1.9%. By Shreyashi Sanyal Nov 29 (Reuters) - Wall Street's main indexes fell on Tuesday as growth stocks extended declines, overshadowing a rise in energy shares after oil prices pared back gains on OPEC+ output concerns. "China is a mixed picture because the protests create uncertainty, but at the same time, could be a catalyst for eventually a loosening in COVID policy," said Carl Ludwigson, managing director at Bel Air.
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Shares of Microsoft Corp MSFT.O, Apple Inc AAPL.O, Netflix Inc NFLX.O and Amazon were down between 0.9% and 1.9%. By Shreyashi Sanyal Nov 29 (Reuters) - Wall Street's main indexes fell on Tuesday as growth stocks extended declines, overshadowing a rise in energy shares after oil prices pared back gains on OPEC+ output concerns. Oil prices pared gains on concerns that OPEC+ would keep its output unchanged at its December meeting.
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Shares of Microsoft Corp MSFT.O, Apple Inc AAPL.O, Netflix Inc NFLX.O and Amazon were down between 0.9% and 1.9%. By Shreyashi Sanyal Nov 29 (Reuters) - Wall Street's main indexes fell on Tuesday as growth stocks extended declines, overshadowing a rise in energy shares after oil prices pared back gains on OPEC+ output concerns. The benchmark S&P 500 index .SPX is now headed for its second straight month of gains in November amid hopes of the U.S. Federal Reserve hiking interest rates in smaller increments and a handful of inflation readings showing a slight cooling in prices.
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Shares of Microsoft Corp MSFT.O, Apple Inc AAPL.O, Netflix Inc NFLX.O and Amazon were down between 0.9% and 1.9%. By Shreyashi Sanyal Nov 29 (Reuters) - Wall Street's main indexes fell on Tuesday as growth stocks extended declines, overshadowing a rise in energy shares after oil prices pared back gains on OPEC+ output concerns. So far, the Fed has delivered four straight 75 basis point rate hikes, but is expected to shift down the pace to a 50-bps move in December.
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18235.0
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2022-11-29 00:00:00 UTC
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After Hours Most Active for Nov 29, 2022 : EW, CRWD, GOOGL, GOOG, AMZN, V, CSX, AAPL, NI, VICI, INFY, MOS
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-nov-29-2022-%3A-ew-crwd-googl-goog-amzn-v-csx-aapl-ni-vici-infy
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nan
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nan
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The NASDAQ 100 After Hours Indicator is down -18.2 to 11,485.25. The total After hours volume is currently 73,820,924 shares traded.
The following are the most active stocks for the after hours session:
Edwards Lifesciences Corporation (EW) is unchanged at $74.85, with 3,029,375 shares traded. As reported by Zacks, the current mean recommendation for EW is in the "buy range".
CrowdStrike Holdings, Inc. (CRWD) is -25.64 at $112.36, with 2,729,121 shares traded. As reported by Zacks, the current mean recommendation for CRWD is in the "buy range".
Alphabet Inc. (GOOGL) is -0.025 at $95.17, with 2,124,751 shares traded. As reported by Zacks, the current mean recommendation for GOOGL is in the "buy range".
Alphabet Inc. (GOOG) is -0.14 at $95.30, with 2,088,092 shares traded. As reported by Zacks, the current mean recommendation for GOOG is in the "buy range".
Amazon.com, Inc. (AMZN) is -0.07 at $92.35, with 1,840,354 shares traded. As reported by Zacks, the current mean recommendation for AMZN is in the "buy range".
Visa Inc. (V) is -0.11 at $208.95, with 1,760,653 shares traded. As reported by Zacks, the current mean recommendation for V is in the "buy range".
CSX Corporation (CSX) is +0.03 at $32.20, with 1,588,408 shares traded.CSX has a $0.40000000cash dividend with an Ex/Eff Date of11/29/2022
Apple Inc. (AAPL) is +0.04 at $141.21, with 1,438,059 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2023. The consensus EPS forecast is $1.5. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
NiSource, Inc (NI) is unchanged at $27.23, with 1,188,042 shares traded. As reported by Zacks, the current mean recommendation for NI is in the "buy range".
VICI Properties Inc. (VICI) is unchanged at $33.67, with 1,096,522 shares traded. As reported by Zacks, the current mean recommendation for VICI is in the "buy range".
Infosys Limited (INFY) is unchanged at $19.71, with 1,038,322 shares traded. INFY's current last sale is 98.55% of the target price of $20.
Mosaic Company (The) (MOS) is unchanged at $50.73, with 910,911 shares traded. MOS's current last sale is 81.82% of the target price of $62.
The views and 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 $141.21, with 1,438,059 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Edwards Lifesciences Corporation (EW) is unchanged at $74.85, with 3,029,375 shares traded.
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Apple Inc. (AAPL) is +0.04 at $141.21, with 1,438,059 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". As reported by Zacks, the current mean recommendation for EW is in the "buy range".
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is +0.04 at $141.21, with 1,438,059 shares traded. As reported by Zacks, the current mean recommendation for AMZN is in the "buy range".
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Apple Inc. (AAPL) is +0.04 at $141.21, with 1,438,059 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The NASDAQ 100 After Hours Indicator is down -18.2 to 11,485.25.
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18236.0
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2022-11-29 00:00:00 UTC
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US STOCKS-S&P 500 ends down as Apple dips and traders eye Powell speech
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AAPL
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https://www.nasdaq.com/articles/us-stocks-sp-500-ends-down-as-apple-dips-and-traders-eye-powell-speech-0
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nan
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nan
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By Shreyashi Sanyal and Noel Randewich
Nov 29 (Reuters) - The S&P 500 ended down on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes.
Investors also focused on recent protests against COVID-19 curbs in China, including at the world's biggest iPhone factory.
Apple's AAPL.O stock dropped 2.1%, down for a fourth straight session.
Powell is due to speak at a Brookings Institution event on Wednesday about the outlook for the U.S. economy and the labor market. Investors will be looking for clues about when the Fed will slow the pace of its aggressive interest rate hikes.
"No one is willing to buy ahead of tomorrow with Powell speaking. Everyone is nervous about what he is going to say," said Ron Saba, senior portfolio manager at Horizon Investments in Charlotte.
Shares of Amazon AMZN.O, Nvidia NVDA.O and Tesla TSLA.O each lost more than 1%.
The benchmark S&P 500 index .SPX is headed for its second straight month of gains in November amid bets that recent inflation readings showing a slight cooling in prices will lead the Fed to scale back the scale of its interest rate hikes.
The Fed has delivered four straight 75 basis point rate hikes, and it is expected to shift down the pace to a 50-bps move in December. FEDWATCH
A survey on Tuesday showed U.S. consumer confidence eased further in November amid persistent worries about the rising cost of living.
Mainland China's recent wave of civil disobedience comes as the number of COVID cases hit record daily highs and large parts of several cities face new lockdowns, further threatening the world's second largest economy.
The S&P 500 energy sector index .SPNY rallied 1.3%, while gains in oil prices on expectations of a loosening of China's strict COVID controls were later offset by concerns that OPEC+ would keep its output unchanged at its upcoming meeting.
The S&P 500 declined 0.16% to end the session at 3,957.60 points.
The Nasdaq declined 0.59% to 10,983.78 points, while Dow Jones Industrial Average rose 0.01% to 33,852.13 points.
Despite the S&P 500's decline, advancing issues outnumbered falling ones .AD.SPX by a 1.3-to-one ratio.
The S&P 500 posted three new highs and two new lows; the Nasdaq recorded 68 new highs and 183 new lows.
U.S.-listed shares of Chinese companies Alibaba Group Holding Ltd BABA.N, Pinduoduo Inc PDD.O and JD.com Inc JD.O jumped more than 5% after China broadened equity financing channels for property developers.
Shares of Chinese internet firm Bilibili Inc BILI.Osoared 22% after posting upbeat quarterly results.
Volume on U.S. exchanges was relatively light, with 9.6 billion shares traded, compared with an average of 11.2 billion shares over the previous 20 sessions.
(Reporting by Shreyashi Sanyal and Ankika Biswas in Bengaluru and by Noel Randewich in Oakland, Calif.; Editing by Marguerita Choy and Shounak Dasgupta)
((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's AAPL.O stock dropped 2.1%, down for a fourth straight session. By Shreyashi Sanyal and Noel Randewich Nov 29 (Reuters) - The S&P 500 ended down on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. Mainland China's recent wave of civil disobedience comes as the number of COVID cases hit record daily highs and large parts of several cities face new lockdowns, further threatening the world's second largest economy.
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Apple's AAPL.O stock dropped 2.1%, down for a fourth straight session. By Shreyashi Sanyal and Noel Randewich Nov 29 (Reuters) - The S&P 500 ended down on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. The benchmark S&P 500 index .SPX is headed for its second straight month of gains in November amid bets that recent inflation readings showing a slight cooling in prices will lead the Fed to scale back the scale of its interest rate hikes.
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Apple's AAPL.O stock dropped 2.1%, down for a fourth straight session. By Shreyashi Sanyal and Noel Randewich Nov 29 (Reuters) - The S&P 500 ended down on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. The benchmark S&P 500 index .SPX is headed for its second straight month of gains in November amid bets that recent inflation readings showing a slight cooling in prices will lead the Fed to scale back the scale of its interest rate hikes.
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Apple's AAPL.O stock dropped 2.1%, down for a fourth straight session. By Shreyashi Sanyal and Noel Randewich Nov 29 (Reuters) - The S&P 500 ended down on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. The benchmark S&P 500 index .SPX is headed for its second straight month of gains in November amid bets that recent inflation readings showing a slight cooling in prices will lead the Fed to scale back the scale of its interest rate hikes.
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18237.0
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2022-11-29 00:00:00 UTC
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3 Superior “Strong Buy” Stocks That Can Capture Market Share
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AAPL
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https://www.nasdaq.com/articles/3-superior-strong-buy-stocks-that-can-capture-market-share
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nan
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nan
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A recession may be unavoidable as the Federal Reserve continues to move forward with its rate-hiking cycle. While the recent relief rally has been fueled by a promising and better-than-expected CPI report, it may be too soon for the Fed to pull the brakes. Undoubtedly, it's hard to tell what's next. Nonetheless, investors should look to the companies that can turn a recession into an opportunity to gain a leg up over market rivals. Uber (NYSE:UBER), (NASDAQ:AAPL), and (NASDAQ:COST) are three stocks that could add to their market shares, regardless of how "hard" the economy's rate-induced landing will be.
Uber (UBER)
Uber is the ride-hailing leader that many Americans have embraced with open arms. The company is now a fierce player in food delivery and generic transportation of goods. Indeed, Uber sees itself as the one and only transportation app that consumers need.
Undoubtedly, there's a lot of competition in transportation services reliant on the gig economy, and profitability prospects are quite slim at the worst possible time (in a rising-rate world). Still, Uber has been able to flex its muscles at the expense of the competition.
Uber's impressive (and growing) network of drivers and customers makes it a top dog. That said, it's the company's ability to offer value via food delivery and ride-hailing that could help it run away with market share in a recession year.
The Uber One subscription offers members considerable savings. In a recession, savings are what people want. The company notes that the average subscriber saves more per month than the price of admission through the modest 5% discount on eligible services. The savings really do add up over time!
Indeed, the service allows customers to save on food orders and rides. That's a value proposition Uber's rivals can't quite offer yet. Certainly, Uber takes convenience to the next level with a service that I think allows it to leverage its network in a way to take more share away from its rivals.
As Uber wins more customers with such a potentially sticky service, the company may have what it takes to squeeze its rivals like never before. Ultimately, I think Uber's rivals in food delivery and ride-hailing will either need to merge or be acquired.
As Uber claws share from rivals while inching closer to profitability, analysts expect big things from the firm.
What is the Price Target for UBER Stock?
Wall Street is pounding the table on the ride-hailer. The average UBER stock price target of $49.07 implies 76.8% upside. That's a big expected gain for the year ahead!
Apple (AAPL)
Apple is a $2.25 trillion behemoth at writing. For a company that size, it seems unreal that there's still market share to be had. Though the iPhone is a beast in the smartphone market, it's still yet to squeeze its rivals. In recent quarters, Apple has gained significant ground over competitors.
The company recently reported its highest Q3 smartphone market share in 12 years. That's impressive, and I think it could be a sign of things to come as Apple opens up its ecosystem and looks to target to lower-end of the smartphone market.
I think Apple can go after the non-luxury segment of the smartphone market without damaging its brand affinity. Indeed, Apple has a lot of room to run to dominate the smartphone scene.
Though Apple faces supply issues ahead of the holidays, I still think the long-term trend is encouraging. The company's taking share, and as it gets into new services, the tech titan could become even more powerful with time.
What is the Price Target for AAPL Stock?
Wall Street still loves Apple, even with iPhone delays considered. The average AAPL stock price target of $180.48 implies 25.1% upside.
Costco (COST)
Costco is a retailer that could win over new loyal customers as inflation and economic headwinds push consumers to save money on their grocery bills at any cost.
The company is willing to offer a great deal if it means getting customers to subscribe to its membership. Undoubtedly, Costco's renewal rates in Canada and the U.S. are high at nearly 90%. As Costco keeps prices relatively low, the firm can bring on more "sticky" customers and raise prices at some point down the road.
It's not just Costco's bulk deals that could allow it to gain ground over other retailers. A push into digital retail and grocery delivery could be a game-changer. As inflation lingers into 2023, so too will Costco's competitive strengths.
At 40.4x trailing earnings, Costco stock remains richly valued. However, with such a wide moat and strength in a wildly-competitive retail industry, it's hard to dismiss its lofty valuation. It's a premier price tag that's well-earned!
What is the Price Target for COST Stock?
Wall Street doesn't mind the rich multiple, with a "Strong Buy" consensus rating based on 14 Buys and four Hold ratings. The average COST stock price target of $552.29 implies 4.4% upside potential.
Conclusion: Analysts Expect the Most Upside from UBER
All firms will face pressure from the same macro headwinds. That doesn't mean 2023 — a recession year expected by many — will be a "lost year" for the most competent firms. Companies that claw away market share from rivals could make the most of a difficult situation. Of the three Strong Buys, analysts expect the most upside from UBER 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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Uber (NYSE:UBER), (NASDAQ:AAPL), and (NASDAQ:COST) are three stocks that could add to their market shares, regardless of how "hard" the economy's rate-induced landing will be. Apple (AAPL) Apple is a $2.25 trillion behemoth at writing. What is the Price Target for AAPL Stock?
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The average AAPL stock price target of $180.48 implies 25.1% upside. Uber (NYSE:UBER), (NASDAQ:AAPL), and (NASDAQ:COST) are three stocks that could add to their market shares, regardless of how "hard" the economy's rate-induced landing will be. Apple (AAPL) Apple is a $2.25 trillion behemoth at writing.
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Uber (NYSE:UBER), (NASDAQ:AAPL), and (NASDAQ:COST) are three stocks that could add to their market shares, regardless of how "hard" the economy's rate-induced landing will be. Apple (AAPL) Apple is a $2.25 trillion behemoth at writing. What is the Price Target for AAPL Stock?
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Uber (NYSE:UBER), (NASDAQ:AAPL), and (NASDAQ:COST) are three stocks that could add to their market shares, regardless of how "hard" the economy's rate-induced landing will be. Apple (AAPL) Apple is a $2.25 trillion behemoth at writing. What is the Price Target for AAPL Stock?
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18238.0
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2022-11-29 00:00:00 UTC
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3 S&P 500 Stocks For Your December 2022 Watchlist
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AAPL
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https://www.nasdaq.com/articles/3-sp-500-stocks-for-your-december-2022-watchlist
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nan
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nan
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The Standard and Poor’s 500, or S&P 500 is a stock market index that includes 500 of the largest publicly-traded companies in the United States. S&P 500 stocks are some of the most widely held and traded stocks on the market, and they are often used as a barometer for the overall health of the stock market.
S&P 500 stocks are typically large, well-established companies with a history of consistent growth. Because of their size and stability, S&P 500 stocks are often considered to be a safe investment, even in volatile markets. If you’re looking for blue-chip stocks that you can hold for the long haul, S&P 500 stocks are a good place to start your search. If reading this has you keen on investing in S&P 500 stocks, check out these three for your December 2022 watchlist.
S&P 500 Stocks To Buy [Or Avoid] Right Now
Apple Inc. (NASDAQ: AAPL)
Broadcom Inc. (NASDAQ: AVGO)
Eli Lily & Company (NYSE: LLY)
1. Apple (AAPL Stock)
Leading off, we have consumer tech giant Apple (AAPL). For starters, Apple is an American multinational technology company. The company designs develop and sell consumer electronics, computer software, and online services. Most notably, Apple’s hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, and others.
In recent news, late last month, Apple reported its fourth-quarter 2022 financial results. In the report, the consumer tech giant reported earnings of $1.29 per share, on revenue of $90.1 billion for Q4 2022. The revenue figures from the quarter reflect an 8.1% increase versus the same period a year prior. What’s more, Apple said it estimates first quarter 2023 revenue to be more than $134 billion.
Year-to-date, shares of AAPL stock are still down 22.34%. Meanwhile, on Tuesday afternoon, Apple stock is trading lower by 1.98% at $141.37 a share.
Source: TD Ameritrade TOS
[Read More] Good Stocks To Invest In Now? 3 Dividend Aristocrats Stocks For Your List
2. Broadcom (AVGO Stock)
Following that, let’s check out Broadcom (AVGO). Broadcom is a leading provider of semiconductor and infrastructure software solutions. The company’s products enable the delivery of digital content, applications, and services. Broadcom’s product portfolio includes system-on-a-chip and software solutions for wired and wireless communications, enterprise storage, cloud computing, and industrial applications.
Earlier this month, Broadcom announced it will report its fourth-quarter 2022 financial results on Thursday, December 8, 2022. To quickly recap, the company reported better-than-expected Q3 2022 financial results. Specifically, Broadcom reported a Q3 2022 EPS of $9.78 and revenue of $8.5 billion. Also in the Q3 2022 report, the company said it estimates Q4 2022 revenue of approximately $8.90 billion.
Aside from that, shares of AVGO stock are down 21.33% so far in 2022. Though, over the last month of trading action, AVGO stock has rebounded 11%. On Tuesday afternoon, Broadcom stock is currently trading at $521.58 a share.
Source: TD Ameritrade TOS
[Read More] Most Active Stocks To Buy Today? 4 Metaverse Stocks To Watch
3. Eli Lily & Company (LLY Stock)
Rounding off the list is Eli Lily & Company (LLY). In brief, Eli Lily and Company is a global pharmaceutical company that researches, develops, manufactures, and markets medicines for humans and animals. Today, Eli Lily and Company is a leading manufacturer of prescription drugs, with products ranging from cancer treatments to antidepressants. The company also conducts extensive research on diabetes, Alzheimer’s disease, and other medical conditions.
Just today, Tuesday, Eli Lily and Company announced it will report its financial guidance for 2023. In detail, the company will host a conference call on Tuesday, December 13, 2022, to discuss the company’s financial guidance.
Furthermore, in 2022 so far, shares of LLY stock have increased 33.56%, which outperforms the overall markets year-to-date. Meanwhile, on Tuesday afternoon Eli Lilly and Company stock is trading slightly lower by 0.74% at $362.93 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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S&P 500 Stocks To Buy [Or Avoid] Right Now Apple Inc. (NASDAQ: AAPL) Broadcom Inc. (NASDAQ: AVGO) Eli Lily & Company (NYSE: LLY) 1. Apple (AAPL Stock) Leading off, we have consumer tech giant Apple (AAPL). Year-to-date, shares of AAPL stock are still down 22.34%.
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S&P 500 Stocks To Buy [Or Avoid] Right Now Apple Inc. (NASDAQ: AAPL) Broadcom Inc. (NASDAQ: AVGO) Eli Lily & Company (NYSE: LLY) 1. Apple (AAPL Stock) Leading off, we have consumer tech giant Apple (AAPL). Year-to-date, shares of AAPL stock are still down 22.34%.
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S&P 500 Stocks To Buy [Or Avoid] Right Now Apple Inc. (NASDAQ: AAPL) Broadcom Inc. (NASDAQ: AVGO) Eli Lily & Company (NYSE: LLY) 1. Apple (AAPL Stock) Leading off, we have consumer tech giant Apple (AAPL). Year-to-date, shares of AAPL stock are still down 22.34%.
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S&P 500 Stocks To Buy [Or Avoid] Right Now Apple Inc. (NASDAQ: AAPL) Broadcom Inc. (NASDAQ: AVGO) Eli Lily & Company (NYSE: LLY) 1. Apple (AAPL Stock) Leading off, we have consumer tech giant Apple (AAPL). Year-to-date, shares of AAPL stock are still down 22.34%.
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18239.0
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2022-11-29 00:00:00 UTC
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Apple's iPhone Pro shipments may fall 20 mln units short of estimates - analyst
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AAPL
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https://www.nasdaq.com/articles/apples-iphone-pro-shipments-may-fall-20-mln-units-short-of-estimates-analyst
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nan
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nan
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By Akash Sriram
Nov 29 (Reuters) - Apple Inc's AAPL.O iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said.
Kuo is the latest to flag a hit to the world's most valuable company from protests over pay and strict COVID-19 curbs at the world's biggest iPhone factory, the Foxconn 2317.TW-operated plant in the central city of Zhengzhou.
He trimmed his estimate for quarterly iPhone shipments by about 20% to between 70 million and 75 million units, compared with the market consensus of 80 million to 85 million units.
Apple shares were trading down more than 2%, set to add to the 6% decline so far this month as worries grow over shipments in the all-important holiday sales season.
Kuo, in a blog post on Tuesday, also predicted that the supply shortfall could erase demand for the more popular Pro models, instead of deferring sales, as consumers also grapple with a weakening economy.
In contrast, other Apple analysts expect sales to pick up once production constraints ease and more Pro models become available.
"We note that Pro devices are sold out into early January, but we expect some of the missed revenue to trickle in the March-quarter," CFRA Research analyst Angelo Zino said on Monday.
The constraints are coming at the worst possible time and are the most severe since the early days of the pandemic, Zino said.
Some analysts signaled the possibility of the challenges extending into 2023.
"I can't imagine 2023 will be a solid year for Apple iPhones," said Zeno Mercer, research analyst at investment advisory firm ROBO Global.
"Those looking to make an upgrade have, and otherwise disposable income for next-gen phones should be down."
(Reporting by Akash Sriram in Bengaluru; Editing by Sriraj Kalluvila)
((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))
The views and 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 Akash Sriram Nov 29 (Reuters) - Apple Inc's AAPL.O iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said. Kuo, in a blog post on Tuesday, also predicted that the supply shortfall could erase demand for the more popular Pro models, instead of deferring sales, as consumers also grapple with a weakening economy. "We note that Pro devices are sold out into early January, but we expect some of the missed revenue to trickle in the March-quarter," CFRA Research analyst Angelo Zino said on Monday.
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By Akash Sriram Nov 29 (Reuters) - Apple Inc's AAPL.O iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said. He trimmed his estimate for quarterly iPhone shipments by about 20% to between 70 million and 75 million units, compared with the market consensus of 80 million to 85 million units. In contrast, other Apple analysts expect sales to pick up once production constraints ease and more Pro models become available.
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By Akash Sriram Nov 29 (Reuters) - Apple Inc's AAPL.O iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said. He trimmed his estimate for quarterly iPhone shipments by about 20% to between 70 million and 75 million units, compared with the market consensus of 80 million to 85 million units. In contrast, other Apple analysts expect sales to pick up once production constraints ease and more Pro models become available.
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By Akash Sriram Nov 29 (Reuters) - Apple Inc's AAPL.O iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said. In contrast, other Apple analysts expect sales to pick up once production constraints ease and more Pro models become available. "We note that Pro devices are sold out into early January, but we expect some of the missed revenue to trickle in the March-quarter," CFRA Research analyst Angelo Zino said on Monday.
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18240.0
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2022-11-29 00:00:00 UTC
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Notable Tuesday Option Activity: HUBG, IMAX, AAPL
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AAPL
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https://www.nasdaq.com/articles/notable-tuesday-option-activity%3A-hubg-imax-aapl
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Hub Group, Inc. (Symbol: HUBG), where a total volume of 6,014 contracts has been traded thus far today, a contract volume which is representative of approximately 601,400 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 298.3% of HUBG's average daily trading volume over the past month, of 201,625 shares. Especially high volume was seen for the $75 strike put option expiring December 16, 2022, with 2,000 contracts trading so far today, representing approximately 200,000 underlying shares of HUBG. Below is a chart showing HUBG's trailing twelve month trading history, with the $75 strike highlighted in orange:
IMAX Corp. (Symbol: IMAX) saw options trading volume of 22,515 contracts, representing approximately 2.3 million underlying shares or approximately 283.4% of IMAX's average daily trading volume over the past month, of 794,525 shares. Especially high volume was seen for the $17 strike call option expiring December 16, 2022, with 15,740 contracts trading so far today, representing approximately 1.6 million underlying shares of IMAX. Below is a chart showing IMAX's trailing twelve month trading history, with the $17 strike highlighted in orange:
And Apple Inc (Symbol: AAPL) saw options trading volume of 1.3 million contracts, representing approximately 125.3 million underlying shares or approximately 154% of AAPL's average daily trading volume over the past month, of 81.4 million shares. Especially high volume was seen for the $140 strike put option expiring December 02, 2022, with 79,589 contracts trading so far today, representing approximately 8.0 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $140 strike highlighted in orange:
For the various different available expirations for HUBG options, IMAX options, or AAPL options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Home Improvement Stores Dividend Stocks
CORZ Options Chain
Top Ten Hedge Funds Holding MDXH
The views and 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 $140 strike put option expiring December 02, 2022, with 79,589 contracts trading so far today, representing approximately 8.0 million underlying shares of AAPL. Below is a chart showing IMAX's trailing twelve month trading history, with the $17 strike highlighted in orange: And Apple Inc (Symbol: AAPL) saw options trading volume of 1.3 million contracts, representing approximately 125.3 million underlying shares or approximately 154% of AAPL's average daily trading volume over the past month, of 81.4 million shares. Below is a chart showing AAPL's trailing twelve month trading history, with the $140 strike highlighted in orange: For the various different available expirations for HUBG options, IMAX options, or AAPL options, visit StockOptionsChannel.com.
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Below is a chart showing IMAX's trailing twelve month trading history, with the $17 strike highlighted in orange: And Apple Inc (Symbol: AAPL) saw options trading volume of 1.3 million contracts, representing approximately 125.3 million underlying shares or approximately 154% of AAPL's average daily trading volume over the past month, of 81.4 million shares. Especially high volume was seen for the $140 strike put option expiring December 02, 2022, with 79,589 contracts trading so far today, representing approximately 8.0 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $140 strike highlighted in orange: For the various different available expirations for HUBG options, IMAX options, or AAPL options, visit StockOptionsChannel.com.
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Below is a chart showing IMAX's trailing twelve month trading history, with the $17 strike highlighted in orange: And Apple Inc (Symbol: AAPL) saw options trading volume of 1.3 million contracts, representing approximately 125.3 million underlying shares or approximately 154% of AAPL's average daily trading volume over the past month, of 81.4 million shares. Especially high volume was seen for the $140 strike put option expiring December 02, 2022, with 79,589 contracts trading so far today, representing approximately 8.0 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $140 strike highlighted in orange: For the various different available expirations for HUBG options, IMAX options, or AAPL options, visit StockOptionsChannel.com.
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Below is a chart showing IMAX's trailing twelve month trading history, with the $17 strike highlighted in orange: And Apple Inc (Symbol: AAPL) saw options trading volume of 1.3 million contracts, representing approximately 125.3 million underlying shares or approximately 154% of AAPL's average daily trading volume over the past month, of 81.4 million shares. Especially high volume was seen for the $140 strike put option expiring December 02, 2022, with 79,589 contracts trading so far today, representing approximately 8.0 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $140 strike highlighted in orange: For the various different available expirations for HUBG options, IMAX options, or AAPL options, visit StockOptionsChannel.com.
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18241.0
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2022-11-29 00:00:00 UTC
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Is iShares ESG Aware MSCI USA ETF (ESGU) a Strong ETF Right Now?
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AAPL
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https://www.nasdaq.com/articles/is-ishares-esg-aware-msci-usa-etf-esgu-a-strong-etf-right-now-4
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nan
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nan
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Launched on 12/01/2016, the iShares ESG Aware MSCI USA ETF (ESGU) is a smart beta exchange traded fund offering broad exposure to the Style Box - All Cap Growth 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.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
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
ESGU is managed by Blackrock, and this fund has amassed over $20.27 billion, which makes it the largest ETF in the Style Box - All Cap Growth. Before fees and expenses, ESGU seeks to match the performance of the MSCI USA ESG Focus Index.
The MSCI USA Extended ESG Focus Index comprises of U.S. companies that have positive environmental, social and governance characteristics while exhibiting risk and return characteristics similar to those of the parent index.
Cost & Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
Operating expenses on an annual basis are 0.15% for this ETF, which makes it one of the cheaper products in the space.
The fund has a 12-month trailing dividend yield of 1.48%.
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.
Representing 27.70% of the portfolio, the fund has heaviest allocation to the Information Technology sector; Healthcare and Financials round out the top three.
When you look at individual holdings, Apple Inc (AAPL) accounts for about 7.30% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN).
Its top 10 holdings account for approximately 25.72% of ESGU's total assets under management.
Performance and Risk
The ETF has lost about -18.04% so far this year and is down about -14.88% in the last one year (as of 11/29/2022). In the past 52-week period, it has traded between $79.22 and $108.46.
The ETF has a beta of 1.01 and standard deviation of 25.51% for the trailing three-year period. With about 311 holdings, it effectively diversifies company-specific risk.
Alternatives
IShares ESG Aware MSCI USA ETF is a reasonable option for investors seeking to outperform the Style Box - All Cap Growth segment of the market. However, there are other ETFs in the space which investors could consider.
Vanguard ESG U.S. Stock ETF (ESGV) tracks FTSE US ALL CAP CHOICE INDEX and the iShares ESG Aware MSCI EAFE ETF (ESGD) tracks MSCI EAFE ESG Focus Index. Vanguard ESG U.S. Stock ETF has $5.78 billion in assets, iShares ESG Aware MSCI EAFE ETF has $6.78 billion. ESGV has an expense ratio of 0.09% and ESGD charges 0.20%.
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 Growth.
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.
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
iShares ESG Aware MSCI USA ETF (ESGU): 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
Vanguard ESG U.S. Stock ETF (ESGV): 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 7.30% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Click to get this free report iShares ESG Aware MSCI USA ETF (ESGU): 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 Vanguard ESG U.S. Stock ETF (ESGV): ETF Research Reports To read this article on Zacks.com click here. Launched on 12/01/2016, the iShares ESG Aware MSCI USA ETF (ESGU) is a smart beta exchange traded fund offering broad exposure to the Style Box - All Cap Growth category of the market.
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Click to get this free report iShares ESG Aware MSCI USA ETF (ESGU): 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 Vanguard ESG U.S. Stock ETF (ESGV): ETF Research Reports To read this article on Zacks.com click here. When you look at individual holdings, Apple Inc (AAPL) accounts for about 7.30% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Vanguard ESG U.S. Stock ETF (ESGV) tracks FTSE US ALL CAP CHOICE INDEX and the iShares ESG Aware MSCI EAFE ETF (ESGD) tracks MSCI EAFE ESG Focus Index.
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Click to get this free report iShares ESG Aware MSCI USA ETF (ESGU): 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 Vanguard ESG U.S. Stock ETF (ESGV): ETF Research Reports To read this article on Zacks.com click here. When you look at individual holdings, Apple Inc (AAPL) accounts for about 7.30% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Vanguard ESG U.S. Stock ETF (ESGV) tracks FTSE US ALL CAP CHOICE INDEX and the iShares ESG Aware MSCI EAFE ETF (ESGD) tracks MSCI EAFE ESG Focus Index.
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When you look at individual holdings, Apple Inc (AAPL) accounts for about 7.30% of the fund's total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN). Click to get this free report iShares ESG Aware MSCI USA ETF (ESGU): 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 Vanguard ESG U.S. Stock ETF (ESGV): ETF Research Reports To read this article on Zacks.com click here. Launched on 12/01/2016, the iShares ESG Aware MSCI USA ETF (ESGU) is a smart beta exchange traded fund offering broad exposure to the Style Box - All Cap Growth category of the market.
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18242.0
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2022-11-29 00:00:00 UTC
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US STOCKS-Wall Street mixed as Apple dips and traders eye Powell speech
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-mixed-as-apple-dips-and-traders-eye-powell-speech
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nan
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nan
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By Shreyashi Sanyal and Noel Randewich
Nov 29 (Reuters) - Wall Street was mixed on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes.
Investors also focused on recent protests against COVID-19 curbs in China, including at the world's biggest iPhone factory.
Apple's AAPL.O stock dropped 2.3%, down for a fourth straight session.
Powell is due to speak at a Brookings Institution event on Wednesday about the outlook for the U.S. economy and the labor market. Investors will be looking for clues about when the Fed will slow the pace of its aggressive interest rate hikes.
"No one is willing to buy ahead of tomorrow with Powell speaking. Everyone is nervous about what he is going to say," said Ron Saba, senior portfolio manager at Horizon Investments in Charlotte.
Shares of Amazon AMZN.O lost 2%, while Alphabet GOOGL.O and Tesla TSLA.O were each down more than 1%.
The benchmark S&P 500 index .SPX is headed for its second straight month of gains in November amid bets that recent inflation readings showing a slight cooling in prices will lead the Fed to scale back the scale of its interest rate hikes.
So far, the Fed has delivered four straight 75 basis point rate hikes, and it is expected to shift down the pace to a 50-bps move in December. FEDWATCH
A survey on Tuesday showed U.S. consumer confidence eased further in November amid persistent worries about the rising cost of living.
Mainland China's recent wave of civil disobedience comes as the number of COVID cases hit record daily highs and large parts of several cities face new lockdowns, further threatening the world's second largest economy.
The S&P 500 energy sector index .SPNYrose about 1%, while gains in oil prices on expectations of a loosening of China's strict COVID controls were later offset by concerns that OPEC+ would keep its output unchanged at its upcoming meeting.
In afternoon trading, the S&P 500 was down 0.03% at 3,962.83 points.
The Nasdaq declined 0.40% to 11,005.12 points, while the Dow Jones Industrial Average was up 0.18% at 33,908.94 points, helped by gains in Boeing BA.Nand CaterpillarCAT.N.
U.S.-listed shares of Chinese companies Alibaba Group Holding Ltd BABA.N, Pinduoduo Inc PDD.O and JD.com Inc JD.Ojumped over 5% as China broadened equity financing channels for property developers.
Shares of Chinese internet firm Bilibili Inc BILI.O jumped 22% after posting upbeat quarterly results.
Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 1.1-to-one ratio.
The S&P 500 posted one new high and two new lows; the Nasdaq recorded 46 new highs and 149 new lows.
(Reporting by Shreyashi Sanyal and Ankika Biswas in Bengaluru and by Noel Randewich in Oakland, Calif.; Editing by Marguerita Choy and Shounak Dasgupta)
((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's AAPL.O stock dropped 2.3%, down for a fourth straight session. By Shreyashi Sanyal and Noel Randewich Nov 29 (Reuters) - Wall Street was mixed on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. Mainland China's recent wave of civil disobedience comes as the number of COVID cases hit record daily highs and large parts of several cities face new lockdowns, further threatening the world's second largest economy.
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Apple's AAPL.O stock dropped 2.3%, down for a fourth straight session. By Shreyashi Sanyal and Noel Randewich Nov 29 (Reuters) - Wall Street was mixed on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. The benchmark S&P 500 index .SPX is headed for its second straight month of gains in November amid bets that recent inflation readings showing a slight cooling in prices will lead the Fed to scale back the scale of its interest rate hikes.
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Apple's AAPL.O stock dropped 2.3%, down for a fourth straight session. By Shreyashi Sanyal and Noel Randewich Nov 29 (Reuters) - Wall Street was mixed on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. The benchmark S&P 500 index .SPX is headed for its second straight month of gains in November amid bets that recent inflation readings showing a slight cooling in prices will lead the Fed to scale back the scale of its interest rate hikes.
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Apple's AAPL.O stock dropped 2.3%, down for a fourth straight session. By Shreyashi Sanyal and Noel Randewich Nov 29 (Reuters) - Wall Street was mixed on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by U.S. Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. The benchmark S&P 500 index .SPX is headed for its second straight month of gains in November amid bets that recent inflation readings showing a slight cooling in prices will lead the Fed to scale back the scale of its interest rate hikes.
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18243.0
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2022-11-29 00:00:00 UTC
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Is Apple a Must-Own Stock in 2023?
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AAPL
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https://www.nasdaq.com/articles/is-apple-a-must-own-stock-in-2023
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nan
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nan
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Every so often, a company comes along and has so much success that many investors end up retiring millionaires by simply going along for the ride. Apple (NASDAQ: AAPL) is one of those companies. The tech giant has seen success matched by very few in history, and it has been rightfully earned. After all, it has world-class products, top-tier brand loyalty, and a bank account that other companies can only dream of having.
Past results are great, but a company's future outlook should be driving investing decisions. And although it's the largest public company in the world with a market cap of over $2.4 trillion -- more than Amazon, Berkshire Hathaway and Tesla combined -- there's still room for noticeable growth for Apple.
Here's why it's a must-own for 2023.
Apple is just getting started in the finance industry
Apple first began its journey into the financial services space in 2014 with the announcement of Apple Pay, which allowed people to pay from their iPhones. However, this move was seen as more about convenience than Apple making its way into the space. Then came 2019 and the announcement of the Apple Card -- a sign Apple was clearly taking a step in that direction.
With the Apple Card, Apple relied on Goldman Sachs to approve applications and fund the loans, which is why when they announced Apple Pay Later -- their move into the buy now, pay later space -- it was no longer a mystery whether Apple was serious about becoming a player in the financial services industry. Apple Pay Later is the first time Apple is underwriting and funding loans by itself.
Apple has an advantage that no other financial institution can duplicate: Its iPhone is in more than 100 million hands in the U.S. Between the iPhone's world-class technology and the convenience it can provide, the company's play into the financial services space is bound to test even the most formidable of financial technology (fintech) competitors.
The iPhone still reigns supreme
The iPhone is arguably the greatest consumer product ever made; it has quite literally changed the world. Apple reportedly spent over $150 million developing the original iPhone, and to say they've reaped the returns on their investments would be the understatement of the century. In its 2022 fiscal year, Apple brought in $394.3 billion in revenue -- roughly $28.5 billion more than it did in 2021. The iPhone accounted for more than half of that, bringing in $205.4 billion.
The fact that the iPhone managed to increase its sales in a year defined by inflation not seen in decades is very telling of its power. In fact, this year was the first time ever that more people in the U.S. used an iPhone than an Android phone. That's a remarkable milestone when you consider the iPhone's market share growth and much higher price point.
As long as the iPhone is padding Apple's bottom line, there's no reason to believe it won't continue to be one of the biggest cash cows you'll see from any business in any industry.
Apple is ramping up its research and development
Apple has historically spent a smaller portion of its revenue on research and development (R&D) than its other Big Tech competitors like Alphabet and Amazon. In 2020, here's how much the three companies spent on R&D and the percentage that was of their net sales:
Alphabet: $27.6 billion (15%)
Amazon: $42.7 billion (11%)
Apple: $18.8 billion (7%)
In 2021, Apple's R&D budget increased to $21.9 billion, and in 2022, it jumped up to $26.2 billion -- a company record. Although this still represents a relatively low percentage of Apple's revenue, it's a sign the company isn't getting complacent and is putting more emphasis on taking advantage of potential growth opportunities.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Stefon Walters has positions in Apple. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), Goldman Sachs, and Tesla. The Motley Fool recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on 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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Apple (NASDAQ: AAPL) is one of those companies. And although it's the largest public company in the world with a market cap of over $2.4 trillion -- more than Amazon, Berkshire Hathaway and Tesla combined -- there's still room for noticeable growth for Apple. As long as the iPhone is padding Apple's bottom line, there's no reason to believe it won't continue to be one of the biggest cash cows you'll see from any business in any industry.
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Apple (NASDAQ: AAPL) is one of those companies. In 2020, here's how much the three companies spent on R&D and the percentage that was of their net sales: Alphabet: $27.6 billion (15%) Amazon: $42.7 billion (11%) Apple: $18.8 billion (7%) In 2021, Apple's R&D budget increased to $21.9 billion, and in 2022, it jumped up to $26.2 billion -- a company record. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), Goldman Sachs, and Tesla.
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Apple (NASDAQ: AAPL) is one of those companies. With the Apple Card, Apple relied on Goldman Sachs to approve applications and fund the loans, which is why when they announced Apple Pay Later -- their move into the buy now, pay later space -- it was no longer a mystery whether Apple was serious about becoming a player in the financial services industry. In 2020, here's how much the three companies spent on R&D and the percentage that was of their net sales: Alphabet: $27.6 billion (15%) Amazon: $42.7 billion (11%) Apple: $18.8 billion (7%) In 2021, Apple's R&D budget increased to $21.9 billion, and in 2022, it jumped up to $26.2 billion -- a company record.
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Apple (NASDAQ: AAPL) is one of those companies. Apple is just getting started in the finance industry Apple first began its journey into the financial services space in 2014 with the announcement of Apple Pay, which allowed people to pay from their iPhones. With the Apple Card, Apple relied on Goldman Sachs to approve applications and fund the loans, which is why when they announced Apple Pay Later -- their move into the buy now, pay later space -- it was no longer a mystery whether Apple was serious about becoming a player in the financial services industry.
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18244.0
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2022-11-29 00:00:00 UTC
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Why Long-Term Investors Should Be Buying Apple (AAPL) on the Dip
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AAPL
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https://www.nasdaq.com/articles/why-long-term-investors-should-be-buying-apple-aapl-on-the-dip
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nan
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nan
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I
have often talked in Market Musings about the importance of understanding the difference between trading and investing. As most people are aware, the most basic difference between the two is the time frame. Trading is inherently short-term, with trades designed to be closed out in minutes, hours, or maybe days at most, whereas investing is long-term. Investors typically buy stocks with a view to holding them for years, and maybe even decades in some cases.
That may sound obvious, but all too often, investors who should be buying for the long-term allow themselves to be impacted by short-term influences. They listen to and read market-related stories that are really catering to traders and make investing decisions based on them. One example would be what is going on with Apple (AAPL) right now.
The stock is down over twenty percent from its 52-week high of 182.94, achieved in early January, including big drops in the last two trading days. If you listen to the news, that the stock has dipped may seem to make sense and, from a trading perspective, it does. However, for a long-term investor, this drop represents an opportunity to add to holdings or establish a long position in AAPL at a discount. The news is bad, but only for the short-term, and it in no way impacts the long-term value proposition for the company and its stock.
Let’s start with the least impactful story, the latest beef with Elon Musk. Musk has claimed that Apple is threatening to withdraw advertising from Twitter, and, for some reason, that seems to have affected the stock’s price negatively. Leaving aside the irony of someone who claims to be all about free speech getting upset about a corporation exercising its rights to freely speak by putting their money where they like, this is at best a non-story for Apple. Does anyone really believe that not advertising on a social media platform will hurt Apple? I certainly don’t.
A much more substantial and influential story is the situation in China. The resurgence of Covid and the resulting lockdowns will presumably impact supply to Apple during the holiday season, while the protests in response hint at the possibility of real social unrest that could have much wider implications in terms of economic growth, demand, and supply. Whatever happens, Apple’s reliance on China for both supply and demand means that they will be adversely affected.
However, investors should be asking themselves whether those adverse effects will still be an issue five years from now, or even in one year, and the answer to that question is probably no. At some point, China will either develop a more effective vaccine themselves or quietly give in and start to use the Western vaccines that actually work and, when they do, things will get to where they are in the West right now, with Covid still around but not being a big economic factor.
In other words, the surge in Covid cases, the zero Covid policy, and the unrest as a result of both, are likely to be short-term problems, at least specifically in terms of their impact on AAPL. Traders should be paying attention to them and obviously are, but that short-term volatility doesn’t change the fact that Apple continues to grow. Their EPS for their financial year 2022 was $6.11, up from $5.61 last year and $2.97 in pre-pandemic 2019.
That is because they continue to produce probably the most desired consumer product in the world in the iPhone, as well as a host of other complimentary products and services. And yet the iPhone accounted for only 17.2% of global smartphone shipments in Q3 of this year, leaving lots of room for further growth in coming years. That is what matters to investors, not Musk’s whining or even a pandemic and social unrest in China. News stories that impact traders will come and go, but a great product and good marketing endures, and that makes AAPL a buy for long-term investors on this dip.
In addition to contributing here, Martin Tillier works as Head of Research at the crypto platform SmartFI.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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News stories that impact traders will come and go, but a great product and good marketing endures, and that makes AAPL a buy for long-term investors on this dip. One example would be what is going on with Apple (AAPL) right now. However, for a long-term investor, this drop represents an opportunity to add to holdings or establish a long position in AAPL at a discount.
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News stories that impact traders will come and go, but a great product and good marketing endures, and that makes AAPL a buy for long-term investors on this dip. One example would be what is going on with Apple (AAPL) right now. However, for a long-term investor, this drop represents an opportunity to add to holdings or establish a long position in AAPL at a discount.
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In other words, the surge in Covid cases, the zero Covid policy, and the unrest as a result of both, are likely to be short-term problems, at least specifically in terms of their impact on AAPL. News stories that impact traders will come and go, but a great product and good marketing endures, and that makes AAPL a buy for long-term investors on this dip. One example would be what is going on with Apple (AAPL) right now.
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News stories that impact traders will come and go, but a great product and good marketing endures, and that makes AAPL a buy for long-term investors on this dip. One example would be what is going on with Apple (AAPL) right now. However, for a long-term investor, this drop represents an opportunity to add to holdings or establish a long position in AAPL at a discount.
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18245.0
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2022-11-29 00:00:00 UTC
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3 Dow Stocks to Take Seriously in 2023
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AAPL
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https://www.nasdaq.com/articles/3-dow-stocks-to-take-seriously-in-2023
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The Dow Jones Industrial Average is down more than 6% year-to-date. With slightly more than half of the index in negative territory for the year, it is easier to come up with three of the top Dow stocks for 2023.
While there appears to be a recession in the cards, Wells Fargo seniorglobal marketstrategist Sameer Samana believes it will be far more moderate than in 2008, when consumers were overextended.
Each of the names making my list of excellent businesses do so because of their strong free cash flow generation. Together, they have generated nearly $140 billion in trailing 12-month free cash flow.
Two of the three names are down approximately 20% on the year, while the third is up big time in 2022. Can you guess which it is?
With a strong December, it’s possible that the Dow could get back to breakeven by New Year’s Eve. But even if it doesn’t, all three of these Dow stocks are excellent long-term holds.
AAPL Apple $144.22
HD Home Depot $318.92
MRK Merck $108.45
Apple (AAPL)
Source: Vytautas Kielaitis / Shutterstock.com
Apple (NASDAQ:AAPL) stock dropped nearly 2% on Black Friday. Investors were concerned that the labor unrest at Foxconn’s factory in China, which makes iPhones, would hurt supply this holiday season.
I recently read an article from TheStreet.com entitled “How Warren Buffett Got Apple Stock Wrong.” The gist of the article was that Buffett sold 94 million of Berkshire Hathaway’s (NYSE:BRK-A, NYSE:BRK-B) Apple stock from Q2 2020 to Q4 2021, missing out on approximately $8.4 billion in unrealized gains [$177.57 (price on Dec. 31, 2021) less $88.41 (price at the end of June 2020) multiplied by 94 million shares (981 million shares Q2 2020 less 887 million Q4 2021)].
To determine if Buffett made a genuine mistake, one would first have to calculate where the proceeds were reinvested and how those purchases performed in 2022. I’m not going to do that.
What I do know is that many people thought he got Occidental Petroleum (NYSE:OXY) wrong when he made the initial investment back in 2019. In hindsight, it was excellent timing on Buffett’s part.
Apple reported its Q4 2022 results in late October. For the full year, its revenues were $394 billion, with an operating profit of $119 billion, good for an operating margin of 30.2%. That puts it seventh out of 30 DJIA companies, and high on my list of Dow stocks for 2023.
However, the gross margin for its services business is notable, at 71.7% in 2022, almost double that of its products business.
So, if Apple had no services revenue, it would have needed to generate product revenues of close to $632 billion in fiscal 2022.
That’s why Tim Cook has been good for Apple.
Home Depot (HD)
Source: Jonathan Weiss / Shutterstock.com
Barron’s reported on Nov. 25 that Paula Santilli, one of Home Depot’s (NYSE:HD) newest directors — Santilli and Caryn Seidman-Becker joined the board on March 1 — bought 1,583 shares of HD for $315.80 each on Nov. 16.
As far as I can tell, Home Depot doesn’t have any minimum stock ownership requirements for its directors, just its named executive officers. So, the purchase of just less than $500,000 in stock is a vote of confidence by Santilli, who also runs Pepsi’s (NASDAQ:PEP) Latin American operations.
As I like to say, “There are plenty of reasons why people sell a stock, but only one reason they buy.”
Home Depot reported Q3 2022 results in mid-November that were better than expected. HD stock has gained about $20 since.
On the top line, its revenues were $38.87 million, $910 million higher than analyst expectations, while its earnings per share were $4.24, 12 cents better than the consensus.
Interestingly, inflation and higher interest rates might help Home Depot because consumers are staying home more often to cut down discretionary spending. Still, home improvements are one thing they’ve been unwilling to put on hold.
I guess we’ll find out in 2023, but it’s been growing sales per square foot by 5% through the first nine months of 2022’s fiscal year. A positive Q4 2022 earnings report would likely push it near $400, where it traded earlier this year.
HD stock trades at 2.09x sales, its lowest level since 2018.
Merck (MRK)
Source: Atmosphere1 / Shutterstock.com
The last of our three Dow stocks to take seriously is a pharmaceutical powerhouse. It’s been more than a year since Merck (NYSE:MRK) spun off Organon (NYSE:OGN), its former operating segment focused on women’s health. It now has six years of exclusivity left on Keytruda, its blockbuster PD-1 (programmed death receptor-1) immunotherapy, before it loses its market exclusivity.
In Q3 2022, Keytruda accounted for 36% of its $15.0 billion revenue. Its next best-selling drug was Gardasil and Gardasil 9 — a vaccine used to prevent HPV (human papillomavirus) that can lead to cancer if undetected — with revenues less than half that of Keytruda.
Merck is doing two things to prepare for the loss of exclusivity in 2028.
First, it uses Keytruda, combined with other drugs, to help treat various cancers. The company recently revealed positive results from a phase 3 trial combining Keytruda with chemotherapy to treat gastric cancer. In combination, they’ve helped patients live longer.
Secondly, it’s making big and small acquisitions to replace some of the revenue that will be lost in 2028. Most recently, it acquired Imago BioSciences (NASDAQ:IMGO) for $1.35 billion. This clinical stage biopharmaceutical company is developing new medicines for treating bone marrow diseases. Another large acquisition was Acceleron (NASDAQ:XLRN) in November 2021. It paid $11.5 billion for the developer of cardiovascular-related treatments.
Merck’s trailing 12-month free cash flow is $15.2 billion [key ratios]. Based on a market cap of $272.6 billion, it has a free cash flow yield of 5.6%. I consider anything between 4% and 8% to be fair value.
Up nearly 40% on the year, it looks ready to finish the year on a high note.
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 Dow Stocks to Take Seriously 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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AAPL Apple $144.22 HD Home Depot $318.92 MRK Merck $108.45 Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com Apple (NASDAQ:AAPL) stock dropped nearly 2% on Black Friday. While there appears to be a recession in the cards, Wells Fargo seniorglobal marketstrategist Sameer Samana believes it will be far more moderate than in 2008, when consumers were overextended. Investors were concerned that the labor unrest at Foxconn’s factory in China, which makes iPhones, would hurt supply this holiday season.
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AAPL Apple $144.22 HD Home Depot $318.92 MRK Merck $108.45 Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com Apple (NASDAQ:AAPL) stock dropped nearly 2% on Black Friday. Each of the names making my list of excellent businesses do so because of their strong free cash flow generation. Together, they have generated nearly $140 billion in trailing 12-month free cash flow.
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AAPL Apple $144.22 HD Home Depot $318.92 MRK Merck $108.45 Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com Apple (NASDAQ:AAPL) stock dropped nearly 2% on Black Friday. I recently read an article from TheStreet.com entitled “How Warren Buffett Got Apple Stock Wrong.” The gist of the article was that Buffett sold 94 million of Berkshire Hathaway’s (NYSE:BRK-A, NYSE:BRK-B) Apple stock from Q2 2020 to Q4 2021, missing out on approximately $8.4 billion in unrealized gains [$177.57 (price on Dec. 31, 2021) less $88.41 (price at the end of June 2020) multiplied by 94 million shares (981 million shares Q2 2020 less 887 million Q4 2021)]. Home Depot (HD) Source: Jonathan Weiss / Shutterstock.com Barron’s reported on Nov. 25 that Paula Santilli, one of Home Depot’s (NYSE:HD) newest directors — Santilli and Caryn Seidman-Becker joined the board on March 1 — bought 1,583 shares of HD for $315.80 each on Nov. 16.
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AAPL Apple $144.22 HD Home Depot $318.92 MRK Merck $108.45 Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com Apple (NASDAQ:AAPL) stock dropped nearly 2% on Black Friday. Each of the names making my list of excellent businesses do so because of their strong free cash flow generation. For the full year, its revenues were $394 billion, with an operating profit of $119 billion, good for an operating margin of 30.2%.
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18246.0
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2022-11-29 00:00:00 UTC
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Company News for Nov 29, 2022
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AAPL
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https://www.nasdaq.com/articles/company-news-for-nov-29-2022
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nan
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nan
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Shares of JOYY Inc. YY gained 1.6% after the company reported third-quarter 2022 adjusted earnings per share of $0.96, surpassing the Zacks Consensus Estimate of $0.52.
Shares of Pinduoduo Inc. PDD soared 12.6% after the company posted third-quarter 2022 adjusted earnings per share of $1.21, outpacing the Zacks Consensus Estimate of $0.73.
Apple Inc.’s AAPL shares fell 2.6% following news that the company will suffer a production shortfall of 6 million iPhone pros due to political unrest in China.
Wynn Resorts Ltd.’s WYNN shares surged 4.4% after the company received provisional grant from the Chinese Authority regarding its casinos in Macau.
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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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.’s AAPL shares fell 2.6% following news that the company will suffer a production shortfall of 6 million iPhone pros due to political unrest in China. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report JOYY Inc. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report JOYY Inc. Apple Inc.’s AAPL shares fell 2.6% following news that the company will suffer a production shortfall of 6 million iPhone pros due to political unrest in China. Shares of JOYY Inc. YY gained 1.6% after the company reported third-quarter 2022 adjusted earnings per share of $0.96, surpassing the Zacks Consensus Estimate of $0.52.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report JOYY Inc. Apple Inc.’s AAPL shares fell 2.6% following news that the company will suffer a production shortfall of 6 million iPhone pros due to political unrest in China. Shares of JOYY Inc. YY gained 1.6% after the company reported third-quarter 2022 adjusted earnings per share of $0.96, surpassing the Zacks Consensus Estimate of $0.52.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report JOYY Inc. Apple Inc.’s AAPL shares fell 2.6% following news that the company will suffer a production shortfall of 6 million iPhone pros due to political unrest in China. Shares of JOYY Inc. YY gained 1.6% after the company reported third-quarter 2022 adjusted earnings per share of $0.96, surpassing the Zacks Consensus Estimate of $0.52.
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18247.0
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2022-11-29 00:00:00 UTC
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3 Cheap Stocks to Buy Right Now
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AAPL
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https://www.nasdaq.com/articles/3-cheap-stocks-to-buy-right-now-3
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nan
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nan
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As the market has dropped, more and more deals are emerging for investors. Price-to-earnings multiples are coming down, cash levels have become more important, and even companies with wide moats are cheaper than they've been in years. Travis Hoium, Jason Hall, and Matt Frankel discuss some of their favorite cheap stocks in the video below.
*Stock prices used were end-of-day prices of Nov. 23, 2022. The video was published on Nov. 28, 2022.
10 stocks we like better than Alphabet (C shares)
When our award-winning 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 Alphabet (C shares) 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 November 7, 2022
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Jason Hall has positions in Live Oak Bancshares and SoFi Technologies, Inc. Matthew Frankel, CFP® has positions in SoFi Technologies, Inc. Travis Hoium has positions in Alphabet (A shares) and Apple. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Apple, and Live Oak Bancshares. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Price-to-earnings multiples are coming down, cash levels have become more important, and even companies with wide moats are cheaper than they've been in years. Travis Hoium, Jason Hall, and Matt Frankel discuss some of their favorite cheap stocks in the video below. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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Jason Hall has positions in Live Oak Bancshares and SoFi Technologies, Inc. Matthew Frankel, CFP® has positions in SoFi Technologies, Inc. Travis Hoium has positions in Alphabet (A shares) and Apple. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Apple, and Live Oak Bancshares. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple.
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See the 10 stocks *Stock Advisor returns as of November 7, 2022 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Jason Hall has positions in Live Oak Bancshares and SoFi Technologies, Inc. Matthew Frankel, CFP® has positions in SoFi Technologies, Inc. Travis Hoium has positions in Alphabet (A shares) and Apple. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Apple, and Live Oak Bancshares.
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Travis Hoium, Jason Hall, and Matt Frankel discuss some of their favorite cheap stocks in the video below. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Apple, and Live Oak Bancshares. Their opinions remain their own and are unaffected by The Motley Fool.
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18248.0
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2022-11-29 00:00:00 UTC
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Should Tech Investors Be Worried About Apple?
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AAPL
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https://www.nasdaq.com/articles/should-tech-investors-be-worried-about-apple
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nan
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nan
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Today's video focuses on Apple (NASDAQ: AAPL), how the events surrounding the company are impacting investor sentiments, and finally, my thought process on determining whether this is something I should be worried about as a long-term investor. Check out the short video to learn more, consider subscribing, and click the special offer link below.
*Stock prices used were the market prices of Nov. 28, 2022. The video was published on Nov. 28, 2022.
10 stocks we like better than Apple
When our award-winning 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 November 7, 2022
Jose Najarro has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy. Jose Najarro is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Today's video focuses on Apple (NASDAQ: AAPL), how the events surrounding the company are impacting investor sentiments, and finally, my thought process on determining whether this is something I should be worried about as a long-term investor. Check out the short video to learn more, consider subscribing, and click the special offer link below. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
|
Today's video focuses on Apple (NASDAQ: AAPL), how the events surrounding the company are impacting investor sentiments, and finally, my thought process on determining whether this is something I should be worried about as a long-term investor. 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.
|
Today's video focuses on Apple (NASDAQ: AAPL), how the events surrounding the company are impacting investor sentiments, and finally, my thought process on determining whether this is something I should be worried about as a long-term investor. 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 November 7, 2022 Jose Najarro has no position in any of the stocks mentioned.
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Today's video focuses on Apple (NASDAQ: AAPL), how the events surrounding the company are impacting investor sentiments, and finally, my thought process on determining whether this is something I should be worried about as a long-term investor. Check out the short video to learn more, consider subscribing, and click the special offer link below. See the 10 stocks *Stock Advisor returns as of November 7, 2022 Jose Najarro has no position in any of the stocks mentioned.
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18249.0
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2022-11-29 00:00:00 UTC
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Volkswagen in talks with Foxconn over plant for Scout vehicles - Automobilwoche
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AAPL
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https://www.nasdaq.com/articles/volkswagen-in-talks-with-foxconn-over-plant-for-scout-vehicles-automobilwoche
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nan
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nan
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Adds Magna International declined to comment
BERLIN, Nov 29 (Reuters) - Volkswagen VOWG_p.DE is in talks with Taiwan's Foxconn 2317.TW about a partnership to build vehicles for the Scout brand, German autos publication Automobilwoche reported on Tuesday, citing Volkswagen company sources.
Volkswagen said in May it planned to reintroduce the Scout off-road brand, creating a separate, independent company to build Scout trucks and SUVs starting in 2026 that will be designed, engineered, and manufactured in the United States for U.S. customers.
Foxconn, best known for assembling Apple's AAPL.O iPhone, has expanded into building electric vehicles for auto brands, hoping for 5% market share in EV manufacturing by 2025.
Volkswagen said it would not comment on speculation about possible partnerships. Foxconn declined to comment.
Volkswagen is also in talks with Magna Steyr, a subsidiary of Magna International MG.TO, who have been looking to build a plant in the United States, Automobilwoche reported.
It could also build its own plant, though this is the least likely option, the report said.
Magna International declined to comment.
(Reporting by Victoria Waldersee, Jan Schwartz, Ben Klayman; editing by Rachel More)
((Victoria.Waldersee@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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Foxconn, best known for assembling Apple's AAPL.O iPhone, has expanded into building electric vehicles for auto brands, hoping for 5% market share in EV manufacturing by 2025. Adds Magna International declined to comment BERLIN, Nov 29 (Reuters) - Volkswagen VOWG_p.DE is in talks with Taiwan's Foxconn 2317.TW about a partnership to build vehicles for the Scout brand, German autos publication Automobilwoche reported on Tuesday, citing Volkswagen company sources. Volkswagen said in May it planned to reintroduce the Scout off-road brand, creating a separate, independent company to build Scout trucks and SUVs starting in 2026 that will be designed, engineered, and manufactured in the United States for U.S. customers.
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Foxconn, best known for assembling Apple's AAPL.O iPhone, has expanded into building electric vehicles for auto brands, hoping for 5% market share in EV manufacturing by 2025. Adds Magna International declined to comment BERLIN, Nov 29 (Reuters) - Volkswagen VOWG_p.DE is in talks with Taiwan's Foxconn 2317.TW about a partnership to build vehicles for the Scout brand, German autos publication Automobilwoche reported on Tuesday, citing Volkswagen company sources. Volkswagen is also in talks with Magna Steyr, a subsidiary of Magna International MG.TO, who have been looking to build a plant in the United States, Automobilwoche reported.
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Foxconn, best known for assembling Apple's AAPL.O iPhone, has expanded into building electric vehicles for auto brands, hoping for 5% market share in EV manufacturing by 2025. Adds Magna International declined to comment BERLIN, Nov 29 (Reuters) - Volkswagen VOWG_p.DE is in talks with Taiwan's Foxconn 2317.TW about a partnership to build vehicles for the Scout brand, German autos publication Automobilwoche reported on Tuesday, citing Volkswagen company sources. Volkswagen said in May it planned to reintroduce the Scout off-road brand, creating a separate, independent company to build Scout trucks and SUVs starting in 2026 that will be designed, engineered, and manufactured in the United States for U.S. customers.
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Foxconn, best known for assembling Apple's AAPL.O iPhone, has expanded into building electric vehicles for auto brands, hoping for 5% market share in EV manufacturing by 2025. Adds Magna International declined to comment BERLIN, Nov 29 (Reuters) - Volkswagen VOWG_p.DE is in talks with Taiwan's Foxconn 2317.TW about a partnership to build vehicles for the Scout brand, German autos publication Automobilwoche reported on Tuesday, citing Volkswagen company sources. Volkswagen is also in talks with Magna Steyr, a subsidiary of Magna International MG.TO, who have been looking to build a plant in the United States, Automobilwoche reported.
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18250.0
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2022-11-29 00:00:00 UTC
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Elon Musk Says Apple Threatened To Withhold Twitter From App Store
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AAPL
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https://www.nasdaq.com/articles/elon-musk-says-apple-threatened-to-withhold-twitter-from-app-store
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nan
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nan
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(RTTNews) - Elon Musk, who recently took Twitter Inc. private in a $44-billion deal, accused Apple Inc. of threatening to block the social media platform from its app store without giving the reason.
In a series of tweets on Monday, the Tesla founder and CEO also said the tech giant had stopped advertising on Twitter, and that it was pressuring the firm over content moderation demands.
In a tweet, Musk said, "Apple has also threatened to withhold Twitter from its App Store, but won't tell us why."
Noting that the iPhone maker has mostly stopped advertising on Twitter, Musk asked whether the company hates free speech in America.
Later, in another tweet, he tagged Apple Chief Executive Officer Tim Cook's Twitter account, asking "what's going on here?"
He also demanded the tech giant to publish all censorship actions it has taken that affect its customers.
"The Twitter Files on free speech suppression soon to be published on Twitter itself. The public deserves to know what really happened," he further tweeted.
In October, Musk had reassured Twitter's advertisers about the future of the platform. Musk then said in a letter posted on Twitter, that he doesn't want the platform to become a "free-for-all-hellscape where anything can be said with no consequences," despite his stated promise to rethink on its content moderation policies and bolster "free speech."
However, various companies are getting concerned over advertising on Twitter under the leadership of Musk. General Motors Co. recently said it has suspended its paid advertising on Twitter saying it wanted more information about Twitter's direction under its new ownership.
Volkswagen, and General Mills are a few others, who have pulled or paused their advertising campaigns.
The views and 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) - Elon Musk, who recently took Twitter Inc. private in a $44-billion deal, accused Apple Inc. of threatening to block the social media platform from its app store without giving the reason. In a series of tweets on Monday, the Tesla founder and CEO also said the tech giant had stopped advertising on Twitter, and that it was pressuring the firm over content moderation demands. Musk then said in a letter posted on Twitter, that he doesn't want the platform to become a "free-for-all-hellscape where anything can be said with no consequences," despite his stated promise to rethink on its content moderation policies and bolster "free speech."
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In a series of tweets on Monday, the Tesla founder and CEO also said the tech giant had stopped advertising on Twitter, and that it was pressuring the firm over content moderation demands. In a tweet, Musk said, "Apple has also threatened to withhold Twitter from its App Store, but won't tell us why." Noting that the iPhone maker has mostly stopped advertising on Twitter, Musk asked whether the company hates free speech in America.
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In a series of tweets on Monday, the Tesla founder and CEO also said the tech giant had stopped advertising on Twitter, and that it was pressuring the firm over content moderation demands. Noting that the iPhone maker has mostly stopped advertising on Twitter, Musk asked whether the company hates free speech in America. General Motors Co. recently said it has suspended its paid advertising on Twitter saying it wanted more information about Twitter's direction under its new ownership.
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In a tweet, Musk said, "Apple has also threatened to withhold Twitter from its App Store, but won't tell us why." Noting that the iPhone maker has mostly stopped advertising on Twitter, Musk asked whether the company hates free speech in America. "The Twitter Files on free speech suppression soon to be published on Twitter itself.
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18251.0
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2022-11-29 00:00:00 UTC
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US STOCKS-Nasdaq set for small gains as Tesla leads growth shares higher
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AAPL
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https://www.nasdaq.com/articles/us-stocks-nasdaq-set-for-small-gains-as-tesla-leads-growth-shares-higher
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nan
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nan
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By Ankika Biswas and Shreyashi Sanyal
"The global economic recovery, especially in that of the high inflation zones of the U.S., Europe and the UK, hinges on Chinese supply chains being back up and running," said Richard Flax, chief investment officer at Moneyfarm.
"Naturally, investors are grasping at any signs of perceived easing (in zero-COVID) or recovery as a cause for optimism."
At 8:34 a.m. ET, Dow e-minis 1YMcv1 were down 56 points, or 0.17%, S&P 500 e-minis EScv1 were up 1 points, or 0.03%, and Nasdaq 100 e-minis NQcv1 were up 19 points, or 0.16%.
Shares of Tesla Inc TSLA.O rose 1.2% in premarket trading. Other growth stocks such as Apple Inc AAPL.O, Amazon.com Inc AMZN.O and Meta Platforms Inc META.O rose between 0.2% and 0.6%.
U.S.-listed shares of Chinese companies Alibaba Group Holding Ltd BABA.N, Pinduoduo Inc PDD.O and JD.com Inc JD.O rose between 5% and 6.8% as China broadened equity financing channels for property developers.
Roku Inc ROKU.Odropped 3.6% after KeyBanc Capital Markets downgraded the streaming device makers' stock to "sector weight" from "overweight".
Oil companies Exxon Mobil Corp XOM.N and Chevron Corp CVX.N gained about 1% each, tracking higher crude prices amid expectations that the OPEC+ would agree to cut oil output during its December meeting. O/R
On the data front, a report is expected to show that consumer confidence in November eased further to 100.00 from 102.50 in the previous month amid rising concerns about inflation and a possible recession next year.
(Reporting by Ankika Biswas in Bengaluru; Editing by Shounak Dasgupta and Anil D'Silva)
((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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Other growth stocks such as Apple Inc AAPL.O, Amazon.com Inc AMZN.O and Meta Platforms Inc META.O rose between 0.2% and 0.6%. By Ankika Biswas and Shreyashi Sanyal "The global economic recovery, especially in that of the high inflation zones of the U.S., Europe and the UK, hinges on Chinese supply chains being back up and running," said Richard Flax, chief investment officer at Moneyfarm. U.S.-listed shares of Chinese companies Alibaba Group Holding Ltd BABA.N, Pinduoduo Inc PDD.O and JD.com Inc JD.O rose between 5% and 6.8% as China broadened equity financing channels for property developers.
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Other growth stocks such as Apple Inc AAPL.O, Amazon.com Inc AMZN.O and Meta Platforms Inc META.O rose between 0.2% and 0.6%. ET, Dow e-minis 1YMcv1 were down 56 points, or 0.17%, S&P 500 e-minis EScv1 were up 1 points, or 0.03%, and Nasdaq 100 e-minis NQcv1 were up 19 points, or 0.16%. U.S.-listed shares of Chinese companies Alibaba Group Holding Ltd BABA.N, Pinduoduo Inc PDD.O and JD.com Inc JD.O rose between 5% and 6.8% as China broadened equity financing channels for property developers.
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Other growth stocks such as Apple Inc AAPL.O, Amazon.com Inc AMZN.O and Meta Platforms Inc META.O rose between 0.2% and 0.6%. By Ankika Biswas and Shreyashi Sanyal "The global economic recovery, especially in that of the high inflation zones of the U.S., Europe and the UK, hinges on Chinese supply chains being back up and running," said Richard Flax, chief investment officer at Moneyfarm. U.S.-listed shares of Chinese companies Alibaba Group Holding Ltd BABA.N, Pinduoduo Inc PDD.O and JD.com Inc JD.O rose between 5% and 6.8% as China broadened equity financing channels for property developers.
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Other growth stocks such as Apple Inc AAPL.O, Amazon.com Inc AMZN.O and Meta Platforms Inc META.O rose between 0.2% and 0.6%. By Ankika Biswas and Shreyashi Sanyal "The global economic recovery, especially in that of the high inflation zones of the U.S., Europe and the UK, hinges on Chinese supply chains being back up and running," said Richard Flax, chief investment officer at Moneyfarm. "Naturally, investors are grasping at any signs of perceived easing (in zero-COVID) or recovery as a cause for optimism."
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2022-11-29 00:00:00 UTC
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Should WisdomTree U.S. Total Dividend ETF (DTD) Be on Your Investing Radar?
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https://www.nasdaq.com/articles/should-wisdomtree-u.s.-total-dividend-etf-dtd-be-on-your-investing-radar-5
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If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the WisdomTree U.S. Total Dividend ETF (DTD), a passively managed exchange traded fund launched on 06/16/2006.
The fund is sponsored by Wisdomtree. It has amassed assets over $1.11 billion, making it one of the average sized ETFs attempting to match the Large Cap Value segment of the US equity market.
Why Large Cap Value
Companies that find themselves in the large cap category typically have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.
While value stocks have lower than average price-to-earnings and price-to-book ratios, they also have lower than average sales and earnings growth rates. When you look at long-term performance, value stocks have outperformed growth stocks in nearly all markets. But in strong bull markets, growth stocks are more likely to be winners.
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 0.28%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 2.52%.
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 Healthcare sector--about 16.20% of the portfolio. Financials and Consumer Staples round out the top three.
Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 3.79% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL).
The top 10 holdings account for about 24.15% of total assets under management.
Performance and Risk
DTD seeks to match the performance of the WisdomTree U.S. Dividend Index before fees and expenses. The WisdomTree U.S. Dividend Index is a fundamentally-weighted index that defines the dividend-paying portion of the U.S. equity market.
The ETF has lost about -2.50% so far this year and is up about 2.66% in the last one year (as of 11/29/2022). In the past 52-week period, it has traded between $54.26 and $65.68.
The ETF has a beta of 0.92 and standard deviation of 23.42% for the trailing three-year period, making it a medium risk choice in the space. With about 639 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree U.S. Total Dividend ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, DTD is an excellent option for investors seeking exposure to the Style Box - Large Cap Value segment of the market. There are other additional ETFs in the space that investors could consider as well.
The iShares Russell 1000 Value ETF (IWD) and the Vanguard Value ETF (VTV) track a similar index. While iShares Russell 1000 Value ETF has $54.46 billion in assets, Vanguard Value ETF has $105.84 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.
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.
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
WisdomTree U.S. Total Dividend ETF (DTD): ETF Research Reports
Apple Inc. (AAPL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
Vanguard Value ETF (VTV): ETF Research Reports
iShares Russell 1000 Value ETF (IWD): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 3.79% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL). Click to get this free report WisdomTree U.S. Total Dividend ETF (DTD): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the WisdomTree U.S. Total Dividend ETF (DTD), a passively managed exchange traded fund launched on 06/16/2006.
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Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 3.79% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL). Click to get this free report WisdomTree U.S. Total Dividend ETF (DTD): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the WisdomTree U.S. Total Dividend ETF (DTD), a passively managed exchange traded fund launched on 06/16/2006.
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Click to get this free report WisdomTree U.S. Total Dividend ETF (DTD): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 3.79% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL). Alternatives WisdomTree U.S. Total Dividend ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors.
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Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 3.79% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL). Click to get this free report WisdomTree U.S. Total Dividend ETF (DTD): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the WisdomTree U.S. Total Dividend ETF (DTD), a passively managed exchange traded fund launched on 06/16/2006.
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18253.0
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2022-11-29 00:00:00 UTC
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Taiwan cuts GDP growth forecast for 2022 and 2023 on weakening exports
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https://www.nasdaq.com/articles/taiwan-cuts-gdp-growth-forecast-for-2022-and-2023-on-weakening-exports
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2022 GDP estimate +3.06%, vs previous forecast +3.76%
Q3 growth revised down to +4.01% y/y, from +4.1%
2022 exports estimate +8.73% y/y, from +13.51%
2023 GDP estimate +2.75% y/y, from +3.05%
Adds quotes, details
TAIPEI, Nov 29 (Reuters) - Taiwan's economy is likely to grow more slowly than previously forecast this year and next, the statistics office said on Tuesday, as it also cut its exports outlook due to global inflation, rate rises and China's zero-COVID policy.
Taiwan, home to the world's largest contract chip maker TSMC 2330.TW, had benefited over the past two years from soaring demand for tablets, laptops and other electronics to support the work and study from home trend during the COVID-19 pandemic.
But demand for those consumer goods is faltering due to lockdowns in Taiwan's largest export market China to control the pandemic, interest rate hikes around the world to crimp soaring inflation, and the impact of the war in Ukraine.
That would mark a slowdown from the 6.45% logged for 2021, which was the fastest growth rate since the economy expanded 10.25% in 2010.
"The world's economic growth rate has become lower, trade volume has decreased, and low demand from other countries has reduced our exports," agency head Chu Tzer-ming told reporters.
Agency official Tsai Yu-tai added that new U.S. legislation to boost domestic chip manufacturing also brought uncertainty to Taiwanese production, but its impact was hard to assess.
Taiwan's exports are a bellwether of demand for global tech giants such as Apple Inc AAPL.O.
For next year, it said it saw 2023 GDP expanding 2.75% compared with a prior estimate of 3.05%, while exports would contract 0.22%, compared with the 2.64% expansion previously predicted.
China's economy rebounded at a faster-than-anticipated clip in the third quarter, but a more robust revival in the longer term will be challenged by persistent COVID-19 curbs, a prolonged property slump and global recession risks.
In the third quarter, GDP was up by a revised 4.01% on a year earlier, growing slightly more slowly than indicated in a preliminary reading of 4.1%, the agency said.
(Reporting by Jeanny Kao and Ben Blanchard; Editing by Ana Nicolaci da Costa)
((ben.blanchard@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Taiwan's exports are a bellwether of demand for global tech giants such as Apple Inc AAPL.O. But demand for those consumer goods is faltering due to lockdowns in Taiwan's largest export market China to control the pandemic, interest rate hikes around the world to crimp soaring inflation, and the impact of the war in Ukraine. "The world's economic growth rate has become lower, trade volume has decreased, and low demand from other countries has reduced our exports," agency head Chu Tzer-ming told reporters.
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Taiwan's exports are a bellwether of demand for global tech giants such as Apple Inc AAPL.O. 2022 GDP estimate +3.06%, vs previous forecast +3.76% Q3 growth revised down to +4.01% y/y, from +4.1% 2022 exports estimate +8.73% y/y, from +13.51% 2023 GDP estimate +2.75% y/y, from +3.05% Adds quotes, details TAIPEI, Nov 29 (Reuters) - Taiwan's economy is likely to grow more slowly than previously forecast this year and next, the statistics office said on Tuesday, as it also cut its exports outlook due to global inflation, rate rises and China's zero-COVID policy. Taiwan, home to the world's largest contract chip maker TSMC 2330.TW, had benefited over the past two years from soaring demand for tablets, laptops and other electronics to support the work and study from home trend during the COVID-19 pandemic.
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Taiwan's exports are a bellwether of demand for global tech giants such as Apple Inc AAPL.O. 2022 GDP estimate +3.06%, vs previous forecast +3.76% Q3 growth revised down to +4.01% y/y, from +4.1% 2022 exports estimate +8.73% y/y, from +13.51% 2023 GDP estimate +2.75% y/y, from +3.05% Adds quotes, details TAIPEI, Nov 29 (Reuters) - Taiwan's economy is likely to grow more slowly than previously forecast this year and next, the statistics office said on Tuesday, as it also cut its exports outlook due to global inflation, rate rises and China's zero-COVID policy. But demand for those consumer goods is faltering due to lockdowns in Taiwan's largest export market China to control the pandemic, interest rate hikes around the world to crimp soaring inflation, and the impact of the war in Ukraine.
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Taiwan's exports are a bellwether of demand for global tech giants such as Apple Inc AAPL.O. 2022 GDP estimate +3.06%, vs previous forecast +3.76% Q3 growth revised down to +4.01% y/y, from +4.1% 2022 exports estimate +8.73% y/y, from +13.51% 2023 GDP estimate +2.75% y/y, from +3.05% Adds quotes, details TAIPEI, Nov 29 (Reuters) - Taiwan's economy is likely to grow more slowly than previously forecast this year and next, the statistics office said on Tuesday, as it also cut its exports outlook due to global inflation, rate rises and China's zero-COVID policy. Taiwan, home to the world's largest contract chip maker TSMC 2330.TW, had benefited over the past two years from soaring demand for tablets, laptops and other electronics to support the work and study from home trend during the COVID-19 pandemic.
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18254.0
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2022-11-28 00:00:00 UTC
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US STOCKS-Wall Street ends down sharply, hit by Apple and China worries
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-down-sharply-hit-by-apple-and-china-worries
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By Ankika Biswas and Noel Randewich
Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production.
Shares of the Cupertino, California tech giant lost 2.6% and weighed heavily on the benchmark S&P 500 .SPX index as worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end phones.
Rare protests in major Chinese cities over the weekend against the country's strict zero-COVID curbs are exacerbating worries about growth in the world's second-largest economy.
"These protests are just evidence that this is a kind of a moving target where, will China continue to try to really constrain COVID's spread?" said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis.
"Or will they have more of a 'living with COVID' approach that we've seen in the United States and other countries?"
"We think COVID itself and China's policy is one of the key variables for 2023 that would influence stock prices and investors," Hainlin said.
All 11 S&P 500 sector indexes declined, led by real estate .SPLRCR, down 2.81%, and a 2.74% loss in energy .SPNY.
U.S. shares of Pinduoduo Inc PDD.Osurged 12.6% after the Chinese e-commerce platform beat estimates for third-quarter revenue, helped by COVID-related lockdowns in the country that forced consumers to shop online. U.S. shares of other Chinese technology companies also rose, with Baidu 9888.HK and Tencent Holdings 0700.HK each gaining over 2%.
The S&P 500 declined 1.54% to end the session at 3,963.95 points.
The Nasdaq Composite Index .IXIC declined 1.58% to 11,049.50 points, while Dow Jones Industrial Average .DJI fell 1.45% to 33,849.46 points.
Shares of Amazon.com Inc AMZN.O rose 0.6% after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, would rise to as much as $11.6 billion.
Trading was mixed in other heavyweight growth stocks, including Microsoft Corp MSFT.O, Meta Platforms Inc META.O, Nvidia Corp NVDA.O and Tesla Inc TSLA.O.
Biogen Inc BIIB.Ofell following a report of death during a clinical study of its experimental Alzheimer's drug.
Shares of cryptocurrency and blockchain-related companies Coinbase Global Inc COIN.O, Riot Blockchain Inc RIOT.O and Marathon Digital Holdings Inc MARA.Oeach fell about 4% following lender BlockFi's bankruptcy filing, the latest casualty since FTX's collapse earlier this month.
This week, investors will keep a close watch on November U.S. consumer confidence data, due on Tuesday; the government's second estimate for third-quarter gross domestic product, due on Wednesday; and November nonfarm payrolls due on Friday.
Declining stocks outnumbered rising ones within the S&P 500 .AD.SPX by a 12.2-to-one ratio.
The S&P 500 posted 12 new highs and two new lows; the Nasdaq recorded 93 new highs and 174 new lows.
Volume on U.S. exchanges was relatively light, with 9.3 billion shares traded, compared to an average of 11.3 billion shares over the previous 20 sessions.
S&P 500 stockshttps://tmsnrt.rs/3gEVKYi
(Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru and by Noel Randewich in Oakland, Calif.; Editing by Shounak Dasgupta, Anil D'Silva and Richard Chang)
((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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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production. Shares of the Cupertino, California tech giant lost 2.6% and weighed heavily on the benchmark S&P 500 .SPX index as worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end phones. Shares of cryptocurrency and blockchain-related companies Coinbase Global Inc COIN.O, Riot Blockchain Inc RIOT.O and Marathon Digital Holdings Inc MARA.Oeach fell about 4% following lender BlockFi's bankruptcy filing, the latest casualty since FTX's collapse earlier this month.
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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production. The Nasdaq Composite Index .IXIC declined 1.58% to 11,049.50 points, while Dow Jones Industrial Average .DJI fell 1.45% to 33,849.46 points. Shares of Amazon.com Inc AMZN.O rose 0.6% after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, would rise to as much as $11.6 billion.
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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production. Shares of the Cupertino, California tech giant lost 2.6% and weighed heavily on the benchmark S&P 500 .SPX index as worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end phones. S&P 500 stockshttps://tmsnrt.rs/3gEVKYi (Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru and by Noel Randewich in Oakland, Calif.; Editing by Shounak Dasgupta, Anil D'Silva and Richard Chang) ((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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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production. The S&P 500 declined 1.54% to end the session at 3,963.95 points. Shares of Amazon.com Inc AMZN.O rose 0.6% after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, would rise to as much as $11.6 billion.
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2022-11-28 00:00:00 UTC
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Musk says Apple mostly stopped advertising on Twitter
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https://www.nasdaq.com/articles/musk-says-apple-mostly-stopped-advertising-on-twitter
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Adds background
Nov 28 (Reuters) - Billionaire Elon Musk said in a tweet on Monday that Apple Inc AAPL.O has mostly stopped advertising on Twitter.
Apple and Twitter did not immediately respond to requests for comment.
Earlier in November, Musk said Twitter had seen a "massive" drop in revenue and blamed activist groups for pressuring advertisers.
Several companies including General Mills Inc GIS.N and luxury automaker Audi of America have paused advertising on Twitter since Musk completed his purchase, while General Motors Co GM.N said it had temporarily halted paid advertising on the social media platform.
Apple spent an estimated $131,600 on Twitter ads between Nov. 10 and Nov. 16, down from $220,800 between Oct. 16 and Oct. 22, the week before Musk closed the Twitter acquisition, according to ad measurement firm Pathmatics.
(Reporting by Tiyashi Datta in Bengaluru and Sheila Dang in Dallas; Editing by Shounak Dasgupta)
((tiyashi.datta@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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Adds background Nov 28 (Reuters) - Billionaire Elon Musk said in a tweet on Monday that Apple Inc AAPL.O has mostly stopped advertising on Twitter. Earlier in November, Musk said Twitter had seen a "massive" drop in revenue and blamed activist groups for pressuring advertisers. Several companies including General Mills Inc GIS.N and luxury automaker Audi of America have paused advertising on Twitter since Musk completed his purchase, while General Motors Co GM.N said it had temporarily halted paid advertising on the social media platform.
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Adds background Nov 28 (Reuters) - Billionaire Elon Musk said in a tweet on Monday that Apple Inc AAPL.O has mostly stopped advertising on Twitter. Several companies including General Mills Inc GIS.N and luxury automaker Audi of America have paused advertising on Twitter since Musk completed his purchase, while General Motors Co GM.N said it had temporarily halted paid advertising on the social media platform. Apple spent an estimated $131,600 on Twitter ads between Nov. 10 and Nov. 16, down from $220,800 between Oct. 16 and Oct. 22, the week before Musk closed the Twitter acquisition, according to ad measurement firm Pathmatics.
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Adds background Nov 28 (Reuters) - Billionaire Elon Musk said in a tweet on Monday that Apple Inc AAPL.O has mostly stopped advertising on Twitter. Several companies including General Mills Inc GIS.N and luxury automaker Audi of America have paused advertising on Twitter since Musk completed his purchase, while General Motors Co GM.N said it had temporarily halted paid advertising on the social media platform. Apple spent an estimated $131,600 on Twitter ads between Nov. 10 and Nov. 16, down from $220,800 between Oct. 16 and Oct. 22, the week before Musk closed the Twitter acquisition, according to ad measurement firm Pathmatics.
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Adds background Nov 28 (Reuters) - Billionaire Elon Musk said in a tweet on Monday that Apple Inc AAPL.O has mostly stopped advertising on Twitter. Apple and Twitter did not immediately respond to requests for comment. Earlier in November, Musk said Twitter had seen a "massive" drop in revenue and blamed activist groups for pressuring advertisers.
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2022-11-28 00:00:00 UTC
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China decoupling takes one step forward, one back
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https://www.nasdaq.com/articles/china-decoupling-takes-one-step-forward-one-back
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Reuters
Reuters
HONG KONG (Reuters Breakingviews) - Wealthy democracies want to cut their reliance on China. The People's Republic too has moved to become more self-sufficient. Tariffs, sanctions and suspicion have redirected flows of human and financial capital, and this week’s political protests in China may accelerate the trend. But decoupling remains more a geopolitically driven aspiration than economic fact.
Since the election of President Donald Trump in 2016, the United States has slapped duties on over $300 billion worth of Chinese imports plus embargoes on advanced technology sales. It has pushed for reshoring production of electric vehicles and silicon chips, and legislated to delist Chinese companies from New York. Europe, Japan, Australia and India have implemented their own measures ranging from restrictions on Chinese investment, excluding equipment from telecoms networks, and banning consumer apps. The impact the pandemic has had on Chinese supply chains has retroactively validated the push to separate. As a buzzword, “decoupling” has become an investment thesis too. Hedge fund manager Bill Ackman recently used it to justify his decision to short the Hong Kong dollar’s peg to the greenback.
The U.S. measures succeeded at the margins. China is the source of 18% of its imports, down from 22% in 2018, according to an analysis by the Peterson Institute for International Economics. But while American purchases of Chinese consumer technology and furniture fell sharply, other critical categories like lithium-ion batteries rose sharply. China’s share of global exports remains stable around 15%, the highest any country has enjoyed since the 1970s, as other trading partners picked up the slack.
Nor have multinational corporations disconnected. While some individual firms have pulled out in a huff – Stellantis, for example, terminated its Jeep joint venture in July – the justification is usually profitability, not diplomatic atmosphere. Apple is diversifying its supply chain, but Starbucks is increasing exposure. A European Chamber of Commerce poll published in June showed eight out of 10 respondents in China reported profit growth in 2021 and that three out of four companies surveyed are not considering shifting investments out of the country.
China’s aggregate stock of foreign direct investment currently stands around $2.5 trillion, per Economist Intelligence Unit estimates; China’s Ministry of Commerce notes FDI rose 14% from January to October. Of the top 6000 global multinationals by revenue, 1,272 have a presence in China, second only to the United States, twice as much as Japan and eight times more than India; even if FDI flows freeze as protests paralyse domestic supply lines and markets, it will take decades to relocate or duplicate such a massive base.
For politicians who hope to replicate the Chinese supply chain via tax tweaks, subsidies and sanctions, it’s worth remembering China started building out the requisite logistical infrastructure in the 1980s. Since then it has taught hundreds of millions of blue-collar workers to be seasoned manufacturing hands in sophisticated production systems integrated with automation. Despite some action in moving production lines to India, Vietnam and elsewhere, skilled cohorts of comparable size are still being trained up in these countries. In the West the factory labour force has been hollowed out.
The lifespans of industrial projects also reinforce China’s staying power. German chemicals giant BASF, for example, has been building a $10 billion advanced plant in Guangdong province since 2019, a project once built might run for 30 to 40 years. Third-tier Chinese cities are full of unsexy industrial operators churning out coatings, pharmaceutical supplies, plastics and unrecognisable widgets that go inside widgets that go inside yet other widgets. None of them can easily relocate.
Financiers haven’t decoupled either. Fickle foreign hedge funds may have sold off Chinese stocks and bonds. But institutional appetite has not imploded yet. Offshore investors put a whopping $2 trillion into domestic companies via 5,000 or so equity and debt deals since 2017, Dealogic data shows, a steady rise only interrupted by global economic ructions this year. Cross-border claims on Chinese banks flattened out in 2021 but still stand at $2.6 trillion at the end of June 2022, up $1 trillion since 2016.
Other decoupling efforts have also faltered. Chinese firms are not being purged from New York exchanges. ByteDance’s video app TikTok survived the Trump administration’s attempt to ban it. China has not developed a commercially competitive computer operating system, much less weaned itself from advanced Western chip technologies.
Which is not to say genuine decoupling won’t happen. The human connection has thinned remarkably. Xi cooperated with Trump in killing off university exchanges and fellowships, and long quarantines for international arrivals have driven off much of China’s expat population. Demonstrations this month in multiple Chinese cities protesting harsh zero-Covid policies puts both economic revival and regime stability in question, a real dampener for companies doubling down in the country like Tim Hortons and Siemens. Executives are naturally exploring plan B. While the desire to decouple is mutual, it will take much more to dismantle a structure that took so long to build.
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CONTEXT NEWS
China's foreign direct investment (FDI) in the first 10 months of the year rose by 14.4% from a year earlier to 1.1 trillion yuan ($153 billion), Shu Jueting, spokesperson of the Ministry of Commerce said on Nov. 17. Non-financial outbound direct investment in the same 10-month period rose 10.3% year-on-year to 627.4 billion yuan, Shu said.
China's exports and imports unexpectedly contracted year-on-year in October, the first simultaneous slump since May 2020.
(Editing by Robyn Mak and Thomas Shum)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of the top 6000 global multinationals by revenue, 1,272 have a presence in China, second only to the United States, twice as much as Japan and eight times more than India; even if FDI flows freeze as protests paralyse domestic supply lines and markets, it will take decades to relocate or duplicate such a massive base. Offshore investors put a whopping $2 trillion into domestic companies via 5,000 or so equity and debt deals since 2017, Dealogic data shows, a steady rise only interrupted by global economic ructions this year. Demonstrations this month in multiple Chinese cities protesting harsh zero-Covid policies puts both economic revival and regime stability in question, a real dampener for companies doubling down in the country like Tim Hortons and Siemens.
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China’s aggregate stock of foreign direct investment currently stands around $2.5 trillion, per Economist Intelligence Unit estimates; China’s Ministry of Commerce notes FDI rose 14% from January to October. China's foreign direct investment (FDI) in the first 10 months of the year rose by 14.4% from a year earlier to 1.1 trillion yuan ($153 billion), Shu Jueting, spokesperson of the Ministry of Commerce said on Nov. 17. Non-financial outbound direct investment in the same 10-month period rose 10.3% year-on-year to 627.4 billion yuan, Shu said.
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China’s aggregate stock of foreign direct investment currently stands around $2.5 trillion, per Economist Intelligence Unit estimates; China’s Ministry of Commerce notes FDI rose 14% from January to October. Of the top 6000 global multinationals by revenue, 1,272 have a presence in China, second only to the United States, twice as much as Japan and eight times more than India; even if FDI flows freeze as protests paralyse domestic supply lines and markets, it will take decades to relocate or duplicate such a massive base. China's foreign direct investment (FDI) in the first 10 months of the year rose by 14.4% from a year earlier to 1.1 trillion yuan ($153 billion), Shu Jueting, spokesperson of the Ministry of Commerce said on Nov. 17.
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China’s aggregate stock of foreign direct investment currently stands around $2.5 trillion, per Economist Intelligence Unit estimates; China’s Ministry of Commerce notes FDI rose 14% from January to October. Financiers haven’t decoupled either. China's foreign direct investment (FDI) in the first 10 months of the year rose by 14.4% from a year earlier to 1.1 trillion yuan ($153 billion), Shu Jueting, spokesperson of the Ministry of Commerce said on Nov. 17.
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2022-11-28 00:00:00 UTC
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GLOBAL MARKETS-Asia shares take comfort in China property rally
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https://www.nasdaq.com/articles/global-markets-asia-shares-take-comfort-in-china-property-rally
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By Wayne Cole
SYDNEY, Nov 29 (Reuters) - Asian shares edged higher on Tuesday as Beijing's latest move to support developers boosted the property sector, though it was still not clear what new damage public unrest over China's zero-COVID policy might do to the economy.
Shares of Chinese property companies surged after the country's securities regulator lifted a ban on equity refinancing for listed property firms.
That helped Chinese blue chips .CSI300 bounce 1.1%, while MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.7%.
Japan's Nikkei .N225 lagged with a drop of 0.4%, while South Korea KS11 firmed 0.3%.
S&P 500 futures ESc1 and Nasdaq futures NQc1 both nudged up 0.1%. EUROSTOXX 50 futures STXEc1 lost 0.2% and FTSE futures FFIc1 0.1%.
Markets were still nervous that the widening web of restrictions in China would lead to more public unrest and further undermine growth.
Analysts at Nomura said their index of lockdowns now showed the equivalent of 25% of China's GDP was affected, compared to a previous peak of 21% last April.
"Although Shanghai-style full lockdowns may be avoided, partial lockdowns in a rising number of cities may be more costly than full lockdowns in just a couple of cities," noted Nomura.
Underlining the far reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone pro units.
"The zero China COVID policy has been an absolute gut punch to Apple's supply chain," said Daniel Ives, an analyst at Wedbush.
"We estimate that Apple now has significant iPhone shortages that could take off roughly at least 5% of units in the quarter and potentially up to 10% depending on the next few weeks in China around Foxconn production and protests."
HIGHER FOR LONGER
Sentiment also soured when Richmond Federal Reserve Bank President Thomas Barkin became the latest official to douse speculation the central bank would reverse course on interest rates relatively quickly next year.
That heightened tensions ahead of speech by Fed Chair Jerome Powell on Wednesday that is shaping up to be a major messaging event as markets yearn for a pivot on policy.
Analysts suspect they may be disappointed.
"We envision him basically confirming a slower pace of hikes at the December meeting, which is almost entirely priced in," said Jan Nevruzi, an analyst at NatWest Markets. "But we also think he will reiterate that the Fed intends to stay in restrictive territory through next year."
"The softening in the October CPI was welcome news, but hardly a complete victory yet, while growth and labour market data are still strong," he added "It doesn't feel like there is upside for Powell to dial back on the hawkishness."
The Fed is not alone in being hawkish, with European Central Bank President Christine Lagarde warnings euro zone inflation has not peaked and could go even higher.
Figures for inflation in Germany and Spain are due later on Tuesday, ahead of the main eurozone report on Wednesday.
Lagarde's comments had initially helped the euro spike to a five-month peak of $1.0497 EUR=D3 overnight, only for a rebound in the U.S. dollar to slap it back to $1.0350.
The dollar also bounced to 138.87 yen JPY=EBS, after briefly touching a three-month trough of 137.50 overnight. The dollar index rallied to 106.57 =USD, having been as low as 105.31 overnight.
The dollar did ease back on the offshore yuan at 7.2161 CNH=, after jumping 0.7% on Monday.
Bitcoin BTC=BTSP fell after major cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy protection along with eight affiliates.
In commodity markets, the gyrations in the dollar saw gold ease back to $1,744 an ounce XAU= after briefly getting as high as $1,763. GOL/
U.S. oil prices hit their lowest this year overnight as concerns over Chinese demand warred with talk of possible OPEC+ output cuts. O/R
U.S. crude futures CLc1 slipped 34 cents in early trade to $76.90 a barrel, though that was off a trough of $73.60, while Brent LCOc1 lost 28 cents to $82.91.
Asia stock marketshttps://tmsnrt.rs/2zpUAr4
Asia-Pacific valuationshttps://tmsnrt.rs/2Dr2BQA
(Reporting by Wayne Cole; Editing by Sam Holmes)
((Wayne.Cole@thomsonreuters.com; 612 9171 7144; Reuters Messaging: wayne.cole.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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Underlining the far reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone pro units. By Wayne Cole SYDNEY, Nov 29 (Reuters) - Asian shares edged higher on Tuesday as Beijing's latest move to support developers boosted the property sector, though it was still not clear what new damage public unrest over China's zero-COVID policy might do to the economy. That heightened tensions ahead of speech by Fed Chair Jerome Powell on Wednesday that is shaping up to be a major messaging event as markets yearn for a pivot on policy.
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Underlining the far reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone pro units. By Wayne Cole SYDNEY, Nov 29 (Reuters) - Asian shares edged higher on Tuesday as Beijing's latest move to support developers boosted the property sector, though it was still not clear what new damage public unrest over China's zero-COVID policy might do to the economy. That helped Chinese blue chips .CSI300 bounce 1.1%, while MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.7%.
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Underlining the far reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone pro units. By Wayne Cole SYDNEY, Nov 29 (Reuters) - Asian shares edged higher on Tuesday as Beijing's latest move to support developers boosted the property sector, though it was still not clear what new damage public unrest over China's zero-COVID policy might do to the economy. That heightened tensions ahead of speech by Fed Chair Jerome Powell on Wednesday that is shaping up to be a major messaging event as markets yearn for a pivot on policy.
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Underlining the far reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone pro units. By Wayne Cole SYDNEY, Nov 29 (Reuters) - Asian shares edged higher on Tuesday as Beijing's latest move to support developers boosted the property sector, though it was still not clear what new damage public unrest over China's zero-COVID policy might do to the economy. Lagarde's comments had initially helped the euro spike to a five-month peak of $1.0497 EUR=D3 overnight, only for a rebound in the U.S. dollar to slap it back to $1.0350.
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18258.0
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2022-11-28 00:00:00 UTC
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Investors hope Beijing will lift COVID curbs faster as protests rattle markets
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https://www.nasdaq.com/articles/investors-hope-beijing-will-lift-covid-curbs-faster-as-protests-rattle-markets
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By Karin Strohecker and Dhara Ranasinghe
LONDON, Nov 28 (Reuters) - Rare protests rippling across China over Beijing's zero-COVID-19 policy may have unleashed a fresh wave of political uncertainty but could also hasten the reopening of the world's number two economy, foreign investors said on Monday.
China's stocks on Monday suffered their worst day in a month .CSI300 and its currency also took a tumble, while global stocks came under pressure and oil prices slumped more than 3% as protesters made a show of civil disobedience unprecedented since President Xi Jinping assumed power a decade ago.
"Protests are a concern in the short-term," Seema Shah, chief strategist at $500 billion asset manager Principal Global Investors told Reuters, adding that latest events supported the view that winds were changing.
"While we have been cautious, there is an important shift going on with the COVID reopening."
China's markets have had a challenging year, suffering from a mix of political risk aversion in the wake of Russia's invasion of Ukraine in February as well as worries over its economic growth given stringent COVID curbs and the fallout from its property sector woes.
Chinese bond portfolios have posted outflows every month since Russia invaded Ukraine in February, totalling $105.1 billion over nine months, according to data from the Institute of International Finance (IIF). Chinese stock portfolios lost $7.6 billion in October alone, the most since March.
On Monday, the offshore yuan CNH= weakened against the dollar to 7.2468 and the risk sensitive Aussie dollar AUD=D3, which is strongly tied to Chinese growth, was the worst performing major currency, falling 1.61% to $0.6649.
Shares in Apple Inc AAPL.O slid, down 2.7% as worker unrest at the world's biggest iPhone factory in China stoked fears of a deeper hit to the already constrained production of higher-end phones.
Protests against China's strict zero-COVID policy and restrictions on freedoms have spread to at least a dozen cities around the world in a show of solidarity with rare displays of defiance in China over the weekend.
"Record cases across multiple cities are putting the (zero-COVID) policy to the test and the unrest highlights the enormity of the challenge facing President Xi Jinping and his commitment to zero-Covid," said Craig Erlam, senior market analyst at OANDA.
"The combination of these creates huge uncertainty, both in terms of how the protests are handled and what the whole experience means for the future of the policy and the economy."
The protests were the strongest public defiance during Xi's political career, China analysts said.
DEMOGRAPHICS
Hopes that Beijing could ease some of its harsh COVID restrictions had recently lifted markets off their lows in a year that has seen domestic blue chips .CSI300 and the Hong Kong .HSI index tumble more than 20% year-to-date.
"The latest events will reinforce the case for reopening," said Vincent Mortier, group chief investment officer at Amundi, Europe's largest asset manager.
The economic pain linked to COVID had started to become a political issue in China, given the impact on youth unemployment in big cities, and adding to pressure on Beijing, which was keen on "avoiding some social unrest", said Mortier.
Demographics have been a major pressure point for China, which has seen youth unemployment hit a record high of around 20% in July.
If protests were to continue, this would add to the risk premium, said Sean Taylor, chief investment officer for Asia-Pacific at DWS Group.
The 833 billion euro asset manager expects that Chinese stocks could see a 15-20% rally once China exits zero-COVID, though markets could be "quite challenging" until then.
Richard Tang, equity research analyst for Asia at Julius Baer, said offshore investors were more worried about recent events than their onshore peers, potentially lifting onshore equity markets.
Tang predicted that if there was no major escalation in the situation, investors would soon shift focus back onto the ruling Communist Party's Central Economic Working Conference in December, which sets the economic agenda for the parliament session, and could confirm a COVID 'policy pivot'.
Others were more cautious. Social discontent stemming from the zero-COVID policy added to risks in executing and implementing government policies, said Mark Haefele, global wealth management CIO at UBS in Zurich.
"We do not expect economic or market headwinds in China to abate significantly over the coming months," Haefele said in a note to clients.
"As a result, we remain neutral on Chinese equities. We also view China’s sluggish recovery as a risk for the global economy and markets."
China covid spike: Increasing COVID-19 cases darkens the outlook for the world's second largest economyhttps://tmsnrt.rs/3EIR4sn
ANALYSIS-China protests highlight Xi's COVID policy dilemma - to walk it back or not
China tightens security after rare protests against COVID curbs
(Reporting by Karin Strohecker and Dhara Ranasinghe in London, Summer Zhen in Hong Kong, Davide Barbuscia in New York; Editing by Gareth Jones and Stephen Coates)
((karin.strohecker@thomsonreuters.com; +442075427262; Reuters Messaging: karin.strohecker.reuters.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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Shares in Apple Inc AAPL.O slid, down 2.7% as worker unrest at the world's biggest iPhone factory in China stoked fears of a deeper hit to the already constrained production of higher-end phones. By Karin Strohecker and Dhara Ranasinghe LONDON, Nov 28 (Reuters) - Rare protests rippling across China over Beijing's zero-COVID-19 policy may have unleashed a fresh wave of political uncertainty but could also hasten the reopening of the world's number two economy, foreign investors said on Monday. "Protests are a concern in the short-term," Seema Shah, chief strategist at $500 billion asset manager Principal Global Investors told Reuters, adding that latest events supported the view that winds were changing.
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Shares in Apple Inc AAPL.O slid, down 2.7% as worker unrest at the world's biggest iPhone factory in China stoked fears of a deeper hit to the already constrained production of higher-end phones. By Karin Strohecker and Dhara Ranasinghe LONDON, Nov 28 (Reuters) - Rare protests rippling across China over Beijing's zero-COVID-19 policy may have unleashed a fresh wave of political uncertainty but could also hasten the reopening of the world's number two economy, foreign investors said on Monday. "Protests are a concern in the short-term," Seema Shah, chief strategist at $500 billion asset manager Principal Global Investors told Reuters, adding that latest events supported the view that winds were changing.
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Shares in Apple Inc AAPL.O slid, down 2.7% as worker unrest at the world's biggest iPhone factory in China stoked fears of a deeper hit to the already constrained production of higher-end phones. By Karin Strohecker and Dhara Ranasinghe LONDON, Nov 28 (Reuters) - Rare protests rippling across China over Beijing's zero-COVID-19 policy may have unleashed a fresh wave of political uncertainty but could also hasten the reopening of the world's number two economy, foreign investors said on Monday. Protests against China's strict zero-COVID policy and restrictions on freedoms have spread to at least a dozen cities around the world in a show of solidarity with rare displays of defiance in China over the weekend.
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Shares in Apple Inc AAPL.O slid, down 2.7% as worker unrest at the world's biggest iPhone factory in China stoked fears of a deeper hit to the already constrained production of higher-end phones. By Karin Strohecker and Dhara Ranasinghe LONDON, Nov 28 (Reuters) - Rare protests rippling across China over Beijing's zero-COVID-19 policy may have unleashed a fresh wave of political uncertainty but could also hasten the reopening of the world's number two economy, foreign investors said on Monday. "While we have been cautious, there is an important shift going on with the COVID reopening."
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18259.0
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2022-11-28 00:00:00 UTC
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Disney CEO Iger makes profitable streaming a priority
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https://www.nasdaq.com/articles/disney-ceo-iger-makes-profitable-streaming-a-priority
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By Dawn Chmielewski
Nov 28 (Reuters) - Walt Disney Co DIS.N Chief Executive Bob Iger said on Monday one of his top priorities is to make the company's streaming business profitable.
Iger is responsible for Disney's all-in embrace of streaming, and the launch of its marquee service, Disney+, but he acknowledged the measurement of success has changed. Wall Street investors now focus on profitability, not merely subscriber gains.
"Instead of chasing (subscribers) with aggressive marketing and aggressive spend on content, we have to start chasing profitability," Iger told a town-hall meeting on the company's Burbank, California, lot, according to a transcript of remarks seen by Reuters.
"In order to achieve that, we have to take a very, very hard look at our cost structure across our businesses."
Disney joins a number of media companies seeking to grow their streaming services without sacrificing its film or television businesses.
The board announced it had installed Iger as chief executive on Nov. 20 after removing his handpicked successor, Bob Chapek, who had lost the support of senior staff.
"Filled with gratitude and excitement to be back @WaltDisneyCo!," Iger tweeted on Monday with a picture of the company's headquarters.
From a sound stage on Disney's lot, Iger said he returns to the company he led for 15 years with a sense of urgency. He said he had recently been listening to Lin-Manuel Miranda's musical "Hamilton," and was struck by the song "What'd I Miss?," as Thomas Jefferson, the U.S. minister to France, is called home.
"The status quo is gone. A lot has changed. But the sun is still shining," Iger said.
Iger, in a question-and-answer session, said it was a "surprise" to have been asked to return to Disney for a two-year period. His top focus, he said, is creativity.
Chapek clashed with "Black Widow" star Scarlett Johansson over the decision to simultaneously release the film in theaters and online, and with Florida Governor Ron DeSantis over legislation limiting classroom discussion of sexual orientation or gender identity.
Disney also has been under pressure from activist investors, who have been pushing for change.
Iger said he planned to keep a hiring freeze, which Chapek instituted, in place, while he assesses Disney's cost structure. He offered no timing on the restructuring of the company's film and television distribution group, Disney Media and Entertainment Distribution. CNBC was the first to report details, which Reuters independently confirmed.
Iger left the stage to a standing ovation, according to one person who attended the session.
FOCUS-At Disney, Iger confronts succession problem he helped create
Disney brings back Bob Iger as CEO in surprise move to boost growth
Disney shares drop as streaming costs drag on earnings
TIMELINE-Disney's Bob Iger returns to lead post-pandemic revamp
Disney's media sales boss to exit in Iger shake-up
BREAKINGVIEWS-Disney offers an Iger solution to an Iger problem
(Reporting by Dawn Chmielewski in Los Angeles; Editing by Nick Zieminski and Anna Driver)
((Dawn.Chmielewski@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 Dawn Chmielewski Nov 28 (Reuters) - Walt Disney Co DIS.N Chief Executive Bob Iger said on Monday one of his top priorities is to make the company's streaming business profitable. The board announced it had installed Iger as chief executive on Nov. 20 after removing his handpicked successor, Bob Chapek, who had lost the support of senior staff. Chapek clashed with "Black Widow" star Scarlett Johansson over the decision to simultaneously release the film in theaters and online, and with Florida Governor Ron DeSantis over legislation limiting classroom discussion of sexual orientation or gender identity.
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By Dawn Chmielewski Nov 28 (Reuters) - Walt Disney Co DIS.N Chief Executive Bob Iger said on Monday one of his top priorities is to make the company's streaming business profitable. He offered no timing on the restructuring of the company's film and television distribution group, Disney Media and Entertainment Distribution. FOCUS-At Disney, Iger confronts succession problem he helped create Disney brings back Bob Iger as CEO in surprise move to boost growth Disney shares drop as streaming costs drag on earnings TIMELINE-Disney's Bob Iger returns to lead post-pandemic revamp Disney's media sales boss to exit in Iger shake-up BREAKINGVIEWS-Disney offers an Iger solution to an Iger problem (Reporting by Dawn Chmielewski in Los Angeles; Editing by Nick Zieminski and Anna Driver) ((Dawn.Chmielewski@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 Dawn Chmielewski Nov 28 (Reuters) - Walt Disney Co DIS.N Chief Executive Bob Iger said on Monday one of his top priorities is to make the company's streaming business profitable. "Instead of chasing (subscribers) with aggressive marketing and aggressive spend on content, we have to start chasing profitability," Iger told a town-hall meeting on the company's Burbank, California, lot, according to a transcript of remarks seen by Reuters. FOCUS-At Disney, Iger confronts succession problem he helped create Disney brings back Bob Iger as CEO in surprise move to boost growth Disney shares drop as streaming costs drag on earnings TIMELINE-Disney's Bob Iger returns to lead post-pandemic revamp Disney's media sales boss to exit in Iger shake-up BREAKINGVIEWS-Disney offers an Iger solution to an Iger problem (Reporting by Dawn Chmielewski in Los Angeles; Editing by Nick Zieminski and Anna Driver) ((Dawn.Chmielewski@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 Dawn Chmielewski Nov 28 (Reuters) - Walt Disney Co DIS.N Chief Executive Bob Iger said on Monday one of his top priorities is to make the company's streaming business profitable. Wall Street investors now focus on profitability, not merely subscriber gains. A lot has changed.
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18260.0
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2022-11-28 00:00:00 UTC
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Behind Foxconn’s China woes: mistrust, miscommunication, COVID curbs
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https://www.nasdaq.com/articles/behind-foxconns-china-woes%3A-mistrust-miscommunication-covid-curbs
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By Yew Lun Tian, Yimou Lee and Brenda Goh
SHANGHAI, Nov 29 (Reuters) - When officials from his Chinese village approached Hou last month, urging him to work at the world's largest iPhone factory for at least twice the usual pay, he knew it was risky.
Tens of thousands of workers had fled the plant in central China in previous weeks and violent protests had erupted over a COVID-19 lockdown and confusion over hiring bonuses.
But Hou, 24, who asked to be identified only by his family name, told Reuters he took the job at the Zhengzhou plant belonging to Foxconn 2317.TW, Apple's biggest iPhone maker, making 70% of iPhones globally.
The crisis could cut production for November at the factory by at least 30%, a Foxconn source told Reuters on Thursday, a development that has hit Apple's share price.
The plant owned by Taiwan-based Foxconn, battered by China's strict COVID restrictions and facing critical year-end holiday demand, was offering enticing hiring bonuses and excellent pay.
Hou said he was promised up to 30,000 yuan ($4,200) for just under four months' work - far above the 12,000-16,000 yuan Foxconn workers usually get for four months.
But he said he had not bargained on a 10-day spell in quarantine and the sudden notification that employees would have to work an extra month before receiving their hiring bonuses.
Such grievances, Hou and two other workers told Reuters, prompted them to confront Foxconn management at the plant - essentially a city of more than 200,000 employees - leading to sporadic clashes that made headlines worldwide.
In a rare example of large-scale labour unrest in China, Foxconn workers in COVID masks clashed with security personnel in white hazmat suits holding plastic shields. Some demonstrators smashed surveillance cameras and windows with sticks.
In addition to the challenges of keeping factory lines operating under a closed-loop system mandated under Beijing's zero-COVID policy - requiring workers be isolated from the wider world - Foxconn's turmoil also exposed communication problems and a mistrust among workers of management at the top Apple supplier.
"Nothing they said counted for anything," Hou said from his hometown after taking a 10,000-yuan payout Foxconn offered on Thursday to protesting workers who agreed to leave.
Hou, who had worked in jobs such as sales and says he was told no factory experience was necessary, never made it to the production line.
'MY LIFE WAS WORTH MORE'
Five other workers said at the time that they were afraid because Foxconn began shifting COVID-positive people to a vacant housing project without disclosing the infections and told workers to eat in their dormitories instead of company canteens, but then failed to segregate infected workers from others.
Foxconn declined to comment on the claims by Hou and other workers, referring Reuters to past statements.
The company previously apologised to workers for a pay-related "technical error" that it said occurred when it was hiring. It has not said why it was paying people to leave soon after promising them hiring bonuses.
In late October, after scenes of fleeing workers started trickling out, Foxconn said it was bringing the situation under control and was coordinating with other plants to increase production.
If the problems persist through December, it will cost Foxconn and Apple the output of around 10 million iPhones, equal to cutting iPhone shipments 12% in the fourth quarter, said KGI Securities analyst Christine Wang.
Foxconn managers said the company was caught in a difficult position, having to speed up shipments during Apple's most important holiday season while following local government's strict COVID guidelines.
"It was the busiest time of the year," said a senior Foxconn official, adding that an October COVID outbreak on the Zhengzhou campus caught the company off guard and triggered "a mess".
"There was pressure for everyone, including for the local government," the official said, referring to local authorities rushing to help recruit replacement workers.
What happened at the plant was the "epitome" of what companies face under China's rigid COVID policy, and it will "push production lines out of China at a greater speed", the official said.
Marina Zhang, an associate professor at the University of Technology Sydney's Australia-China Relations Institute, said Foxconn's woes sent a message to companies trying to keep Chinese operations going and keep workers COVID-free in line with national policy.
"A company’s internal communications can be totally overpowered, overwhelmed by social media," Zhang said. "They lose power to social media – no one is going to listen to them."
One worker, Fay, said he feared catching COVID and anguished whether to stay on for two more weeks to claim a bonus for completing his three-month contract. Eventually, he says, he crawled out through a hole in a green metal fence.
"In the end, I decided that my life was worth more."
Foxconn unrest risks iPhone shipments, weighs on Apple shares
QUOTES-Reactions to Apple supplier Foxconn's labour unrest
GRAPHICS-Unrest at Foxconn's Zhengzhou plant in Chinahttps://tmsnrt.rs/3F0RnA7
IPhone Pro models scarce in stores this holiday - Best Buy
(Reporting by Yew Lun Tian in Singapore, Yimou Lee in Taipei and Brenda Goh in Shanghai; Editing by Anne Marie Roantree and William Mallard)
((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Yew Lun Tian, Yimou Lee and Brenda Goh SHANGHAI, Nov 29 (Reuters) - When officials from his Chinese village approached Hou last month, urging him to work at the world's largest iPhone factory for at least twice the usual pay, he knew it was risky. The plant owned by Taiwan-based Foxconn, battered by China's strict COVID restrictions and facing critical year-end holiday demand, was offering enticing hiring bonuses and excellent pay. Such grievances, Hou and two other workers told Reuters, prompted them to confront Foxconn management at the plant - essentially a city of more than 200,000 employees - leading to sporadic clashes that made headlines worldwide.
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By Yew Lun Tian, Yimou Lee and Brenda Goh SHANGHAI, Nov 29 (Reuters) - When officials from his Chinese village approached Hou last month, urging him to work at the world's largest iPhone factory for at least twice the usual pay, he knew it was risky. In a rare example of large-scale labour unrest in China, Foxconn workers in COVID masks clashed with security personnel in white hazmat suits holding plastic shields. Foxconn unrest risks iPhone shipments, weighs on Apple shares QUOTES-Reactions to Apple supplier Foxconn's labour unrest GRAPHICS-Unrest at Foxconn's Zhengzhou plant in Chinahttps://tmsnrt.rs/3F0RnA7 IPhone Pro models scarce in stores this holiday - Best Buy (Reporting by Yew Lun Tian in Singapore, Yimou Lee in Taipei and Brenda Goh in Shanghai; Editing by Anne Marie Roantree and William Mallard) ((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In addition to the challenges of keeping factory lines operating under a closed-loop system mandated under Beijing's zero-COVID policy - requiring workers be isolated from the wider world - Foxconn's turmoil also exposed communication problems and a mistrust among workers of management at the top Apple supplier. Five other workers said at the time that they were afraid because Foxconn began shifting COVID-positive people to a vacant housing project without disclosing the infections and told workers to eat in their dormitories instead of company canteens, but then failed to segregate infected workers from others. Foxconn unrest risks iPhone shipments, weighs on Apple shares QUOTES-Reactions to Apple supplier Foxconn's labour unrest GRAPHICS-Unrest at Foxconn's Zhengzhou plant in Chinahttps://tmsnrt.rs/3F0RnA7 IPhone Pro models scarce in stores this holiday - Best Buy (Reporting by Yew Lun Tian in Singapore, Yimou Lee in Taipei and Brenda Goh in Shanghai; Editing by Anne Marie Roantree and William Mallard) ((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters Messaging: brenda.goh.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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Hou, who had worked in jobs such as sales and says he was told no factory experience was necessary, never made it to the production line. It has not said why it was paying people to leave soon after promising them hiring bonuses. Foxconn managers said the company was caught in a difficult position, having to speed up shipments during Apple's most important holiday season while following local government's strict COVID guidelines.
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18261.0
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2022-11-28 00:00:00 UTC
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US STOCKS-Apple, energy shares drag Wall St lower amid China COVID protests
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AAPL
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https://www.nasdaq.com/articles/us-stocks-apple-energy-shares-drag-wall-st-lower-amid-china-covid-protests
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nan
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nan
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By Ankika Biswas and Shreyashi Sanyal
Nov 28 (Reuters) - Wall Street's main indexes fell on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns over economic growth and dragged commodity-linked shares lower, while Apple slid on worries about a hit to iPhone production.
Shares of the tech giant AAPL.O fell 2% and weighed the most on the benchmark S&P 500 .SPX index,as growing worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end models.
Rare protests in major Chinese cities over the weekend against the country's strict zero-COVID curbs have hit growth expectations in the world's second-largest economy.
"If these protests continue, it could disrupt supply chains and the reopenings, a glimpse of which we saw earlier this year," said Brian Klimke, director ofinvestment researchat Cetera Financial Group.
"It will continue to weigh on investors' minds going forward."
The S&P 500 energy index .SPNY and the materials index .SPLRCM slid 1.7% and 1.4%, respectively, making them the biggest sectoral decliners as oil and metal prices dropped on China news. O/RMET/L
U.S.-listed shares of Chinese companies such as Bilibili Inc BILI.O, Alibaba Group Holding Ltd BABA.N, JD.com Inc JD.O, Baidu Inc BIDU.O and Nio Inc NIO.N, however, eked out gains, rising between 1% and 2.2%.
"Those that are buying might be trying to pick up some ball games on stocks that have been way beaten down or maybe they think that this is going to force the (Chinese) party's hand into relaxing some of the restrictions," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield.
At 12:29 p.m. ET, the Dow Jones Industrial Average .DJI was down 270.56 points, or 0.79%, at 34,076.47, the S&P 500 .SPX was down 35.13 points, or 0.87%, at 3,990.99, and the Nasdaq Composite .IXIC was down 87.55 points, or 0.78%, at 11,138.80.
A 1.2% rise in shares of Amazon.comAMZN.Olimited the downside, after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, to rise as much as $11.6 billion, encouraged by some of the biggest discounts and deals to attract inflation-wary consumers.
Trading in other growth stocks, includingMicrosoft Corp MSFT.O, Meta Platforms Inc META.O, Nvidia Corp NVDA.O, Netflix Inc NFLX.O and Tesla Inc TSLA.O, were mixed.
Among other stocks, Biogen Inc BIIB.Ofell 3.9% following a report of death during a clinical study of its experimental Alzheimer's drug.
Shares of cryptocurrency and blockchain-related companies, including Coinbase Global Inc COIN.O, Riot Blockchain Inc RIOT.O and Marathon Digital Holdings Inc MARA.O, were down about 2.5% each following lender BlockFi's bankruptcy filing, the latest casualty since FTX's collapse earlier this month.
For the week, investors will keep a close watch on nonfarm payrolls for November, the second estimate for third-quarter gross domestic product and consumer confidence this month.
Declining issues outnumbered advancers for a 2.47-to-1 ratio on the NYSE and for a 1.95-to-1 ratio on the Nasdaq.
The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 74 new highs and 102 new lows.
(Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Anil D'Silva)
((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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Shares of the tech giant AAPL.O fell 2% and weighed the most on the benchmark S&P 500 .SPX index,as growing worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end models. By Ankika Biswas and Shreyashi Sanyal Nov 28 (Reuters) - Wall Street's main indexes fell on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns over economic growth and dragged commodity-linked shares lower, while Apple slid on worries about a hit to iPhone production. Shares of cryptocurrency and blockchain-related companies, including Coinbase Global Inc COIN.O, Riot Blockchain Inc RIOT.O and Marathon Digital Holdings Inc MARA.O, were down about 2.5% each following lender BlockFi's bankruptcy filing, the latest casualty since FTX's collapse earlier this month.
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Shares of the tech giant AAPL.O fell 2% and weighed the most on the benchmark S&P 500 .SPX index,as growing worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end models. By Ankika Biswas and Shreyashi Sanyal Nov 28 (Reuters) - Wall Street's main indexes fell on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns over economic growth and dragged commodity-linked shares lower, while Apple slid on worries about a hit to iPhone production. The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 74 new highs and 102 new lows.
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Shares of the tech giant AAPL.O fell 2% and weighed the most on the benchmark S&P 500 .SPX index,as growing worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end models. By Ankika Biswas and Shreyashi Sanyal Nov 28 (Reuters) - Wall Street's main indexes fell on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns over economic growth and dragged commodity-linked shares lower, while Apple slid on worries about a hit to iPhone production. A 1.2% rise in shares of Amazon.comAMZN.Olimited the downside, after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, to rise as much as $11.6 billion, encouraged by some of the biggest discounts and deals to attract inflation-wary consumers.
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Shares of the tech giant AAPL.O fell 2% and weighed the most on the benchmark S&P 500 .SPX index,as growing worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end models. By Ankika Biswas and Shreyashi Sanyal Nov 28 (Reuters) - Wall Street's main indexes fell on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns over economic growth and dragged commodity-linked shares lower, while Apple slid on worries about a hit to iPhone production. O/RMET/L U.S.-listed shares of Chinese companies such as Bilibili Inc BILI.O, Alibaba Group Holding Ltd BABA.N, JD.com Inc JD.O, Baidu Inc BIDU.O and Nio Inc NIO.N, however, eked out gains, rising between 1% and 2.2%.
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18262.0
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2022-11-28 00:00:00 UTC
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GLOBAL MARKETS-Asia shares, oil prices rally as China speculation swirls
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AAPL
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https://www.nasdaq.com/articles/global-markets-asia-shares-oil-prices-rally-as-china-speculation-swirls
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nan
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nan
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By Wayne Cole
SYDNEY, Nov 29 (Reuters) - Asian shares rallied on Tuesday as Beijing's latest move to support developers boosted the property sector and rumours swirled that recent public unrest might prompt an earlier loosening in COVID-19 restrictions.
The speculation was stoked by reports Chinese health officials would hold a news conference later on Tuesday to discuss coronavirus control measures.
"News of the press conference at 3pm (0700 GMT) came out, and I think that has gotten the market excited over the possibility that we could see China continue to ease up," said Khoon Goh, head of Asia research at ANZ.
"The yuan has rallied, and basically Chinese equities and everything else in Asia has responded positively to that."
Shares of Chinese property companies certainly surged after the country's securities regulator lifted a ban on equity refinancing for listed property firms.
That helped Chinese blue chips .CSI300 jump almost 3%, in the largest one-day rally in a month and a marked reversal of Monday's steep falls.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS followed with gains of 1.8%, while Hong Kong's Hang Seng .HSI climbed 3.9%.
The sudden bout of optimism on China combined with talk of possible output cuts by OPEC+ to help oil prices rally. O/R
U.S. crude futures CLc1 bounced $1.24 to $78.48 a barrel, having hit their lowest this year overnight, while Brent LCOc1 climbed $1.64 to $88.83.
Not all markets seemed convinced the rally would last. Japan's Nikkei .N225 slipped 0.5%.
EUROSTOXX 50 futures STXEc1 were flat and FTSE futures FFIc1 up 0.1%.
S&P 500 futures ESc1 inched up 0.2% and Nasdaq futures NQc1 0.4%.
Underlining the far-reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone Pro units.
"The zero China COVID policy has been an absolute gut punch to Apple's supply chain," said Daniel Ives, an analyst at Wedbush.
"We estimate that Apple now has significant iPhone shortages that could take off roughly at least 5% of units in the quarter and potentially up to 10% depending on the next few weeks in China around Foxconn production and protests."
HIGHER FOR LONGER
Richmond Federal Reserve Bank President Thomas Barkin became the latest official to douse speculation the U.S. central bank would reverse course on interest rates relatively quickly next year.
That heightened tensions ahead of speech by Fed Chair Jerome Powell on Wednesday that is shaping up to be a major messaging event as markets yearn for a pivot on policy.
Analysts suspect they may be disappointed.
"We envision him basically confirming a slower pace of hikes at the December meeting, which is almost entirely priced in," said Jan Nevruzi, an analyst at NatWest Markets. "But we also think he will reiterate that the Fed intends to stay in restrictive territory through next year."
"The softening in the October CPI was welcome news, but hardly a complete victory yet, while growth and labour market data are still strong," he added "It doesn't feel like there is upside for Powell to dial back on the hawkishness."
The Fed is not alone in being hawkish, with European Central Bank President Christine Lagarde warning that euro zone inflation has not peaked and could go even higher.
Figures for inflation in Germany and Spain are due later on Tuesday, ahead of the main euro zone report on Wednesday.
The competing comments on policy made for volatile currency trading, with the euro edging up to $1.0377 EUR=EBS, having hit a five-month peak of $1.0497 overnight before falling back.
The dollar dipped to 138.65 yen JPY=EBS, after briefly touching a three-month trough of 137.50 overnight. The dollar index eased 0.3% to 106.29 =USD, but had been as low as 105.31 the previous session.
The dollar also shed 0.9% against the offshore yuan to 7.1830 CNH=, erasing all the gains made on Monday.
Bitcoin BTC=BTSP was again choppy after major cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy protection along with eight affiliates.
In commodity markets, the gyrations in the dollar saw gold rise 0.5% to $1,751 an ounce XAU=. GOL/
Asia stock marketshttps://tmsnrt.rs/2zpUAr4
Asia-Pacific valuationshttps://tmsnrt.rs/2Dr2BQA
(Reporting by Wayne Cole and Rae Wee; Editing by Sam Holmes and Bradley Perrett)
((Wayne.Cole@thomsonreuters.com; 612 9171 7144; Reuters Messaging: wayne.cole.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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Underlining the far-reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone Pro units. By Wayne Cole SYDNEY, Nov 29 (Reuters) - Asian shares rallied on Tuesday as Beijing's latest move to support developers boosted the property sector and rumours swirled that recent public unrest might prompt an earlier loosening in COVID-19 restrictions. That heightened tensions ahead of speech by Fed Chair Jerome Powell on Wednesday that is shaping up to be a major messaging event as markets yearn for a pivot on policy.
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Underlining the far-reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone Pro units. By Wayne Cole SYDNEY, Nov 29 (Reuters) - Asian shares rallied on Tuesday as Beijing's latest move to support developers boosted the property sector and rumours swirled that recent public unrest might prompt an earlier loosening in COVID-19 restrictions. Richmond Federal Reserve Bank President Thomas Barkin became the latest official to douse speculation the U.S. central bank would reverse course on interest rates relatively quickly next year.
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Underlining the far-reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone Pro units. By Wayne Cole SYDNEY, Nov 29 (Reuters) - Asian shares rallied on Tuesday as Beijing's latest move to support developers boosted the property sector and rumours swirled that recent public unrest might prompt an earlier loosening in COVID-19 restrictions. That heightened tensions ahead of speech by Fed Chair Jerome Powell on Wednesday that is shaping up to be a major messaging event as markets yearn for a pivot on policy.
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Underlining the far-reaching impact of Beijing's policies, Apple Inc AAPL.O shares had fallen 2.6% on reports COVID-19 restrictions would cause a sizable shortfall in production of iPhone Pro units. "The yuan has rallied, and basically Chinese equities and everything else in Asia has responded positively to that." MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS followed with gains of 1.8%, while Hong Kong's Hang Seng .HSI climbed 3.9%.
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18263.0
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2022-11-28 00:00:00 UTC
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US STOCKS-Wall Street drops, weighed down by Apple and China worries
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-drops-weighed-down-by-apple-and-china-worries-0
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nan
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nan
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By Ankika Biswas and Noel Randewich
Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production.
Shares of the Cupertino, California tech giant weighed heavily on the benchmark S&P 500 .SPX index as worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end phones.
Rare protests in major Chinese cities over the weekend against the country's strict zero-COVID curbs are exacerbating worries about growth in the world's second-largest economy.
"These protests are just evidence that this is a kind of a moving target where, will China continue to try to really constrain COVID's spread?" said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis.
"Or will they have more of a 'living with COVID' approach that we've seen in the United States and other countries?"
"We think COVID itself and China's policy is one of the key variables for 2023 that would influence stock prices and investors," Hainlin said.
All 11 S&P 500 sector indexes declined, led by real estate .SPLRCRand energy .SPNY.
U.S. shares of Pinduoduo Inc PDD.Osurged after the Chinese e-commerce platform beat estimates for third-quarter revenue, helped by COVID-related lockdowns in the country that forced consumers to shop online. U.S. shares of other Chinese technology companies also rose, with Baidu 9888.HK and Tencent Holdings 0700.HK each gaining over 2%.
According to preliminary data, the S&P 500 .SPX lost 61.29 points, or 1.52%, to end at 3,964.83 points, while the Nasdaq Composite .IXIC lost 173.01 points, or 1.54%, at 11,053.35. The Dow Jones Industrial Average .DJI fell 495.95 points, or 1.44%, to 33,851.08.
With two trading days left in November, the S&P 500 is on track for a gain of over 2% for the month.
Shares of Amazon.com Inc AMZN.O rose for much of the session after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, would rise to as much as $11.6 billion.
Trading was mixed in other heavyweight growth stocks, including Microsoft Corp MSFT.O, Meta Platforms Inc META.O, Nvidia Corp NVDA.O and Tesla Inc TSLA.O.
Biogen Inc BIIB.Ofell following a report of death during a clinical study of its experimental Alzheimer's drug.
Shares of cryptocurrency and blockchain-related companies Coinbase Global Inc COIN.O, Riot Blockchain Inc RIOT.O and Marathon Digital Holdings Inc MARA.Oeach fell following lender BlockFi's bankruptcy filing, the latest casualty since FTX's collapse earlier this month.
This week, investors will keep a close watch on November U.S. consumer confidence data, due on Tuesday; the government's second estimate for third-quarter gross domestic product, due on Wednesday; and November nonfarm payrolls due on Friday.
S&P 500 stockshttps://tmsnrt.rs/3gEVKYi
(Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru and by Noel Randewich in Oakland, Calif.; Editing by Shounak Dasgupta, Anil D'Silva and Richard Chang)
((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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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production. Shares of the Cupertino, California tech giant weighed heavily on the benchmark S&P 500 .SPX index as worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end phones. Shares of cryptocurrency and blockchain-related companies Coinbase Global Inc COIN.O, Riot Blockchain Inc RIOT.O and Marathon Digital Holdings Inc MARA.Oeach fell following lender BlockFi's bankruptcy filing, the latest casualty since FTX's collapse earlier this month.
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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production. According to preliminary data, the S&P 500 .SPX lost 61.29 points, or 1.52%, to end at 3,964.83 points, while the Nasdaq Composite .IXIC lost 173.01 points, or 1.54%, at 11,053.35. Shares of Amazon.com Inc AMZN.O rose for much of the session after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, would rise to as much as $11.6 billion.
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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production. Shares of the Cupertino, California tech giant weighed heavily on the benchmark S&P 500 .SPX index as worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end phones. This week, investors will keep a close watch on November U.S. consumer confidence data, due on Tuesday; the government's second estimate for third-quarter gross domestic product, due on Wednesday; and November nonfarm payrolls due on Friday.
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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.O slid on worries about a hit to iPhone production. U.S. shares of other Chinese technology companies also rose, with Baidu 9888.HK and Tencent Holdings 0700.HK each gaining over 2%. With two trading days left in November, the S&P 500 is on track for a gain of over 2% for the month.
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18264.0
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2022-11-28 00:00:00 UTC
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US STOCKS-Wall Street drops, weighed down by Apple and China worries
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-drops-weighed-down-by-apple-and-china-worries
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nan
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nan
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By Ankika Biswas and Noel Randewich
Nov 28 (Reuters) - Wall Street stocks tumbled on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.Oslid on worries about a hit to iPhone production.
Shares of the Cupertino, California tech giant fell over 2% and weighed heavily on the benchmark S&P 500 .SPX index as worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end phones.
Rare protests in major Chinese cities over the weekend against the country's strict zero-COVID curbs are exacerbating worries about growth in the world's second-largest economy.
"These protests are just evidence that this is a kind of a moving target where, will China continue to try to really constrain COVID's spread?" said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis.
"Or will they have more of a 'living with COVID' approach that we've seen in the United States and other countries?"
"We think COVID itself and China's policy is one of the key variables for 2023 that would influence stock prices and investors," Hainlin said.
All 11 S&P 500 sector indexes declined, led by real estate .SPLRCR, down 2%, followed by a 1.91% loss in energy .SPNY.
U.S. shares of Pinduoduo Inc PDD.O surged 14% after the Chinese e-commerce platform beat estimates for third-quarter revenue, helped by COVID-related lockdowns in the country that forced consumers to shop online. U.S. shares of other Chinese technology companies also rose, with Baidu 9888.HKand Tencent Holdings 0700.HKeach gaining over 2%.
In afternoon trading, the S&P 500 .SPX was down 1.20% at 3,977.86 points.
The Nasdaq Composite .IXIC declined 1.15% to 11,097.71 points, while the Dow Jones Industrial Average .DJI was down 1.15% at 33,953.73 points.
Shares of Amazon.com Inc AMZN.O rose about 1% after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, would rise to as much as $11.6 billion.
Trading was mixed in other heavyweight growth stocks, including Microsoft Corp MSFT.O, Meta Platforms Inc META.O, Nvidia Corp NVDA.O and Tesla Inc TSLA.O.
Biogen Inc BIIB.Ofell3.5% following a report of death during a clinical study of its experimental Alzheimer's drug.
Shares of cryptocurrency and blockchain-related companies Coinbase Global Inc COIN.O, Riot Blockchain Inc RIOT.O and Marathon Digital Holdings Inc MARA.Oeach fell more than 2% following lender BlockFi's bankruptcy filing, the latest casualty since FTX's collapse earlier this month.
This week, investors will keep a close watch on November consumer confidence data, due on Tuesday; the government's second estimate for third-quarter gross domestic product, due on Wednesday; and November nonfarm payrolls due on Friday.
Declining stocks outnumbered rising ones within the S&P 500 .AD.SPXby a 7.7-to-one ratio.
The S&P 500 posted 11 new highs and two new lows; the Nasdaq recorded 75 new highs and 120 new lows.
S&P 500 stockshttps://tmsnrt.rs/3gEVKYi
(Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru and by Noel Randewich in Oakland, Calif.; Editing by Shounak Dasgupta, Anil D'Silva and Richard Chang)
((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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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - Wall Street stocks tumbled on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.Oslid on worries about a hit to iPhone production. Shares of the Cupertino, California tech giant fell over 2% and weighed heavily on the benchmark S&P 500 .SPX index as worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end phones. Shares of cryptocurrency and blockchain-related companies Coinbase Global Inc COIN.O, Riot Blockchain Inc RIOT.O and Marathon Digital Holdings Inc MARA.Oeach fell more than 2% following lender BlockFi's bankruptcy filing, the latest casualty since FTX's collapse earlier this month.
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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - Wall Street stocks tumbled on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.Oslid on worries about a hit to iPhone production. Rare protests in major Chinese cities over the weekend against the country's strict zero-COVID curbs are exacerbating worries about growth in the world's second-largest economy. Shares of Amazon.com Inc AMZN.O rose about 1% after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, would rise to as much as $11.6 billion.
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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - Wall Street stocks tumbled on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.Oslid on worries about a hit to iPhone production. Shares of the Cupertino, California tech giant fell over 2% and weighed heavily on the benchmark S&P 500 .SPX index as worker unrest at the world's biggest iPhone factory in China fanned fears of a deeper hit to the already constrained production of higher-end phones. S&P 500 stockshttps://tmsnrt.rs/3gEVKYi (Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru and by Noel Randewich in Oakland, Calif.; Editing by Shounak Dasgupta, Anil D'Silva and Richard Chang) ((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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By Ankika Biswas and Noel Randewich Nov 28 (Reuters) - Wall Street stocks tumbled on Monday as protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc AAPL.Oslid on worries about a hit to iPhone production. In afternoon trading, the S&P 500 .SPX was down 1.20% at 3,977.86 points. Shares of Amazon.com Inc AMZN.O rose about 1% after an industry report estimated spending during Cyber Monday, the biggest U.S. online shopping day, would rise to as much as $11.6 billion.
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18265.0
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2022-11-28 00:00:00 UTC
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Why ZIM Integrated Shipping Stock Dropped Today
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AAPL
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https://www.nasdaq.com/articles/why-zim-integrated-shipping-stock-dropped-today
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nan
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nan
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What happened
Shares of Israeli container shipping company ZIM Integrated Shipping Services (NYSE: ZIM) tumbled 3.4% through 11:05 a.m. EST Monday -- and it's no huge secret why. Across the shipping world, stocks including ZIM, Costamere, and Danaos Corporation are all sliding today.
And China is the reason.
So what
As multiple media outlets have reported, protests against a government "zero-Covid" policy are spreading across China, threatening both the ruling regime's stability, the country's economy, and its ability to produce products that would need container shipping services to reach foreign markets. To cite just one example, CNBC reported this morning that Apple is likely to produce 6 million fewer iPhone Pro smartphones this month than it would like to produce, as a result of a combination of Covid outbreaks at its factories, government measures to contain the outbreaks, and protests against the containments.
Result: Less demand for ocean-going container shipping.
Now what
But this, too, shall pass.
There's an old saying in economics: "If something cannot go on forever, it will stop." As applied to today's situation, we can understand why China's government wants to stamp out Covid and has imposed draconian measures to accomplish this goal. But after three years of trying, and failing, and seeing its economic growth rate hobbled in consequence, it's starting to become apparent that "zero-Covid" is a policy that cannot be sustained forever.
Therefore, it will stop...eventually.
It's hard to say exactly when China will change its policy. What we can say for certain, though, is that the longer the zero-Covid policy remains in place, and Chinese products fail to ship to consumers who demand them, the greater the pent-up demand will grow. Eventually, zero-Covid will end, shipping will pick back up again, and container shipping companies like ZIM will be there to supply the demand.
Today's declining stock price may feel discouraging for ZIM investors. But the declines will eventually stop, and when they do, I have a feeling investors are going to quickly figure out that at a valuation of just four times 2023 estimated earnings, ZIM stock is quite the bargain.
10 stocks we like better than ZIM Integrated Shipping Services Ltd.
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Rich Smith has positions in Costamare Inc. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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So what As multiple media outlets have reported, protests against a government "zero-Covid" policy are spreading across China, threatening both the ruling regime's stability, the country's economy, and its ability to produce products that would need container shipping services to reach foreign markets. As applied to today's situation, we can understand why China's government wants to stamp out Covid and has imposed draconian measures to accomplish this goal. But the declines will eventually stop, and when they do, I have a feeling investors are going to quickly figure out that at a valuation of just four times 2023 estimated earnings, ZIM stock is quite the bargain.
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What happened Shares of Israeli container shipping company ZIM Integrated Shipping Services (NYSE: ZIM) tumbled 3.4% through 11:05 a.m. EST Monday -- and it's no huge secret why. To cite just one example, CNBC reported this morning that Apple is likely to produce 6 million fewer iPhone Pro smartphones this month than it would like to produce, as a result of a combination of Covid outbreaks at its factories, government measures to contain the outbreaks, and protests against the containments. * They just revealed what they believe are the ten best stocks for investors to buy right now... and ZIM Integrated Shipping Services Ltd. wasn't one of them!
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What happened Shares of Israeli container shipping company ZIM Integrated Shipping Services (NYSE: ZIM) tumbled 3.4% through 11:05 a.m. EST Monday -- and it's no huge secret why. So what As multiple media outlets have reported, protests against a government "zero-Covid" policy are spreading across China, threatening both the ruling regime's stability, the country's economy, and its ability to produce products that would need container shipping services to reach foreign markets. Eventually, zero-Covid will end, shipping will pick back up again, and container shipping companies like ZIM will be there to supply the demand.
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10 stocks we like better than ZIM Integrated Shipping Services Ltd. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.
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18266.0
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2022-11-28 00:00:00 UTC
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Technology Sector Update for 11/28/2022: AAPL,GTLB,VSAT,TBLA
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AAPL
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https://www.nasdaq.com/articles/technology-sector-update-for-11-28-2022%3A-aaplgtlbvsattbla
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nan
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nan
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Technology stocks were ending near this intra-day lows on Monday, with the SPDR Technology Select Sector ETF (XLK) sinking 2.3% and the Philadelphia Semiconductor Index sliding 2.8% this afternoon.
In company news, Apple (AAPL) was sinking 2.6% amid ongoing anti-lockdown protests outside a Foxconn assembly facility in China and a Bloomberg report citing a person familiar with the matter that COVID-19 mandates could slow the production of 6 million iPhone14 Pro units this year. Apple shares also could be under pressure Monday after Twitter CEO Elon Musk Monday asserted the tech giant "has mostly stopped advertising" on the social media platform, rhetorically asking whether "Apple hate(s) free speech in America?"
Viasat (VSAT) declined 5% on Monday. The satellite-services company said its Americas-focused ViaSat-3 satellite has completed a test of its payload and bus systems and has proceeded to the Flight Final stage of integration. The ViaSat-3 satellite will serve Europe, Africa and the Middle East.
GitLab (GTLB) fell 1.2% after RBC Capital Markets cut its price target for the software-development platform company by $20 to $55, citing macro-economic headwinds, although the broker also reiterated its outperform rating for Gitlab.
To the upside, Taboola.com (TBLA) raced nearly 46% higher after the algorithmic search-engine company announced a 30-year commercial agreement with Apollo Global Management's majority-owned Yahoo internet platform, with Taboola exclusively running native advertising across all of Yahoo's digital properties.
The views and 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 company news, Apple (AAPL) was sinking 2.6% amid ongoing anti-lockdown protests outside a Foxconn assembly facility in China and a Bloomberg report citing a person familiar with the matter that COVID-19 mandates could slow the production of 6 million iPhone14 Pro units this year. The satellite-services company said its Americas-focused ViaSat-3 satellite has completed a test of its payload and bus systems and has proceeded to the Flight Final stage of integration. To the upside, Taboola.com (TBLA) raced nearly 46% higher after the algorithmic search-engine company announced a 30-year commercial agreement with Apollo Global Management's majority-owned Yahoo internet platform, with Taboola exclusively running native advertising across all of Yahoo's digital properties.
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In company news, Apple (AAPL) was sinking 2.6% amid ongoing anti-lockdown protests outside a Foxconn assembly facility in China and a Bloomberg report citing a person familiar with the matter that COVID-19 mandates could slow the production of 6 million iPhone14 Pro units this year. GitLab (GTLB) fell 1.2% after RBC Capital Markets cut its price target for the software-development platform company by $20 to $55, citing macro-economic headwinds, although the broker also reiterated its outperform rating for Gitlab. To the upside, Taboola.com (TBLA) raced nearly 46% higher after the algorithmic search-engine company announced a 30-year commercial agreement with Apollo Global Management's majority-owned Yahoo internet platform, with Taboola exclusively running native advertising across all of Yahoo's digital properties.
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In company news, Apple (AAPL) was sinking 2.6% amid ongoing anti-lockdown protests outside a Foxconn assembly facility in China and a Bloomberg report citing a person familiar with the matter that COVID-19 mandates could slow the production of 6 million iPhone14 Pro units this year. Apple shares also could be under pressure Monday after Twitter CEO Elon Musk Monday asserted the tech giant "has mostly stopped advertising" on the social media platform, rhetorically asking whether "Apple hate(s) free speech in America?" To the upside, Taboola.com (TBLA) raced nearly 46% higher after the algorithmic search-engine company announced a 30-year commercial agreement with Apollo Global Management's majority-owned Yahoo internet platform, with Taboola exclusively running native advertising across all of Yahoo's digital properties.
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In company news, Apple (AAPL) was sinking 2.6% amid ongoing anti-lockdown protests outside a Foxconn assembly facility in China and a Bloomberg report citing a person familiar with the matter that COVID-19 mandates could slow the production of 6 million iPhone14 Pro units this year. Technology stocks were ending near this intra-day lows on Monday, with the SPDR Technology Select Sector ETF (XLK) sinking 2.3% and the Philadelphia Semiconductor Index sliding 2.8% this afternoon. Apple shares also could be under pressure Monday after Twitter CEO Elon Musk Monday asserted the tech giant "has mostly stopped advertising" on the social media platform, rhetorically asking whether "Apple hate(s) free speech in America?"
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18267.0
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2022-11-28 00:00:00 UTC
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Notable ETF Outflow Detected - IVV, AAPL, MSFT, AMZN
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AAPL
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https://www.nasdaq.com/articles/notable-etf-outflow-detected-ivv-aapl-msft-amzn
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P 500 ETF (Symbol: IVV) where we have detected an approximate $80.8 million dollar outflow -- that's a 0.03% decrease week over week (from 760,050,000 to 759,850,000). Among the largest underlying components of IVV, in trading today Apple Inc (Symbol: AAPL) is off about 2%, Microsoft Corporation (Symbol: MSFT) is down about 1.8%, and Amazon.com Inc (Symbol: AMZN) is higher by about 0.8%. For a complete list of holdings, visit the IVV Holdings page » The chart below shows the one year price performance of IVV, versus its 200 day moving average:
Looking at the chart above, IVV's low point in its 52 week range is $349.53 per share, with $482.07 as the 52 week high point — that compares with a last trade of $401.13. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
ALXN Split History
TFLT Videos
Funds Holding CLDN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of IVV, in trading today Apple Inc (Symbol: AAPL) is off about 2%, Microsoft Corporation (Symbol: MSFT) is down about 1.8%, and Amazon.com Inc (Symbol: AMZN) is higher by about 0.8%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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Among the largest underlying components of IVV, in trading today Apple Inc (Symbol: AAPL) is off about 2%, Microsoft Corporation (Symbol: MSFT) is down about 1.8%, and Amazon.com Inc (Symbol: AMZN) is higher by about 0.8%. For a complete list of holdings, visit the IVV Holdings page » The chart below shows the one year price performance of IVV, versus its 200 day moving average: Looking at the chart above, IVV's low point in its 52 week range is $349.53 per share, with $482.07 as the 52 week high point — that compares with a last trade of $401.13. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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Among the largest underlying components of IVV, in trading today Apple Inc (Symbol: AAPL) is off about 2%, Microsoft Corporation (Symbol: MSFT) is down about 1.8%, and Amazon.com Inc (Symbol: AMZN) is higher by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P 500 ETF (Symbol: IVV) where we have detected an approximate $80.8 million dollar outflow -- that's a 0.03% decrease week over week (from 760,050,000 to 759,850,000). For a complete list of holdings, visit the IVV Holdings page » The chart below shows the one year price performance of IVV, versus its 200 day moving average: Looking at the chart above, IVV's low point in its 52 week range is $349.53 per share, with $482.07 as the 52 week high point — that compares with a last trade of $401.13.
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Among the largest underlying components of IVV, in trading today Apple Inc (Symbol: AAPL) is off about 2%, Microsoft Corporation (Symbol: MSFT) is down about 1.8%, and Amazon.com Inc (Symbol: AMZN) is higher by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P 500 ETF (Symbol: IVV) where we have detected an approximate $80.8 million dollar outflow -- that's a 0.03% decrease week over week (from 760,050,000 to 759,850,000). For a complete list of holdings, visit the IVV Holdings page » The chart below shows the one year price performance of IVV, versus its 200 day moving average: Looking at the chart above, IVV's low point in its 52 week range is $349.53 per share, with $482.07 as the 52 week high point — that compares with a last trade of $401.13.
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18268.0
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2022-11-28 00:00:00 UTC
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Stocks Take a Hit as Wall Street Eyes China Covid Unrest
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AAPL
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https://www.nasdaq.com/articles/stocks-take-a-hit-as-wall-street-eyes-china-covid-unrest
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nan
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nan
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Last week's mostly upbeat sentiment was forgotten on Monday as investors anxiously eyed the pushback the Chinese government is receiving for its prolonged Covid-19 restrictions. This unrest reverberated through global markets, denting tech amid reports that demonstrations at an Apple (AAPL) factory in China could severely effect iPhone Pro production.
In response, the Dow shed 497 points, while the Nasdaq and S&P 500 both lost over 1%. Meanwhile, investors are looking ahead to a spate of economic data due out this week, including the November labor report and personal consumption data, as well as speeches from Fed Chair Jerome Powell and other central bank leaders.
Continue reading for more on today's market, including:
How casino stocks are reacting to China's protests.
This alternative energy name could see more highs soon.
Plus, AAPL plummets; blue-chip flashing bull signal; and one stock brushing off China unrest.
The Dow Jones Industrial Average (DJI - 33,849.46) lost 497.6 points, or 1.5% for the day. Merck (MRK) paced the gainers with a 0.9% win. Boeing (BA) led the laggards with a 3.7% loss.
The S&P 500 Index (SPX - 3,963.94) lost 62.2 points, or 1.5% for the day, while the Nasdaq Composite Index (IXIC - 11,049.50) shed 176.9 points, or 1.6%.
Lastly, the Cboe Volatility Index (VIX - 22.2) added 1.7 point, or 8.3% for the session.
5 Things to Know Today
BlockFi, an embattled crypto firm, has filed for Chapter 11 bankruptcy amid the FTX fallout. (CNBC)
The Internal Revenue Service (IRS) is warning tax filers that they will need to report transactions that cross the $600 threshold made through so-called "third-party" facilitators like Venmo. (MarketWatch)
Apple stock is also hurting amid unrest in China.
This blue-chip giant is flashing a historical bull signal.
One China-based stock that brushed off today's selloff.
There were no earnings of note today.
Oil Ekes Out Win After Hitting 2022 Lows
Oil prices settled off their lowest level in 2022, as investors brushed off tensions in China and declining demand concerns. The front-month, January-dated crude added 96 cents, or 1.3%, to trade at $77.24 per barrel after earlier slipping back below the $75 mark.
The unrest in China also made gold prices volatile, and the precious metal wound up settling lower. December-dated gold shed $13.70 or roughly 0.8%, to settle at $1,740.30 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This unrest reverberated through global markets, denting tech amid reports that demonstrations at an Apple (AAPL) factory in China could severely effect iPhone Pro production. Plus, AAPL plummets; blue-chip flashing bull signal; and one stock brushing off China unrest. Last week's mostly upbeat sentiment was forgotten on Monday as investors anxiously eyed the pushback the Chinese government is receiving for its prolonged Covid-19 restrictions.
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Plus, AAPL plummets; blue-chip flashing bull signal; and one stock brushing off China unrest. This unrest reverberated through global markets, denting tech amid reports that demonstrations at an Apple (AAPL) factory in China could severely effect iPhone Pro production. The S&P 500 Index (SPX - 3,963.94) lost 62.2 points, or 1.5% for the day, while the Nasdaq Composite Index (IXIC - 11,049.50) shed 176.9 points, or 1.6%.
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Plus, AAPL plummets; blue-chip flashing bull signal; and one stock brushing off China unrest. This unrest reverberated through global markets, denting tech amid reports that demonstrations at an Apple (AAPL) factory in China could severely effect iPhone Pro production. The S&P 500 Index (SPX - 3,963.94) lost 62.2 points, or 1.5% for the day, while the Nasdaq Composite Index (IXIC - 11,049.50) shed 176.9 points, or 1.6%.
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Plus, AAPL plummets; blue-chip flashing bull signal; and one stock brushing off China unrest. This unrest reverberated through global markets, denting tech amid reports that demonstrations at an Apple (AAPL) factory in China could severely effect iPhone Pro production. (MarketWatch) Apple stock is also hurting amid unrest in China.
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18269.0
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2022-11-28 00:00:00 UTC
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Wall Street Loves These 4 “Strong Buy” Stocks Right Now
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AAPL
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https://www.nasdaq.com/articles/wall-street-loves-these-4-strong-buy-stocks-right-now
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nan
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nan
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With another month left for the tumultuous year of 2022 to end, it's a good time to prepare to make the most out of 2023 with Wall Street’s highest-rated stocks. Recently, Merck (NYSE:MRK), Eli Lilly (NYSE:LLY), Apple (NASDAQ:AAPL), and Salesforce (NASDAQ:CRM) have been rated favorably by Wall Street analysts.
Merck (MRK)
Pharmaceutical giant Merck is best known for its medications for life-threatening diseases. Its cancer drug, Keytruda, and its HPV vaccine Gardasil are the best-sellers that form the backbone of Merck’s product revenues.
Early this month, Guggenheim analyst Seamus Fernandez maintained a Buy on MRK stock and raised his guidance on the sales of Keytruda, Gardasil, and the pulmonary arterial hypertension medication Sotatercept. This also prompted the analyst to increase his price target on the stock from $104 to $111.
To build its long-term portfolio, Merck is also tapping external sources. To that end, the company has made several strategic acquisitions which have been fruitful growth catalysts. The most recent acquisition was made last week when the company announced that it will acquire Imago BioSciences (NASDAQ:IMGO) for $1.35 billion.
What is the Price Target for MRK Stock?
MRK stock has a Strong Buy consensus rating on Wall Street. However, the average price target of $110.40 indicates 1.8% upside potential.
Eli Lilly (LLY)
Another pharmaceutical company that's popular on Wall Street is Eli Lilly. LLY's solid portfolio of drugs is widely used to treat diabetes, autoimmune diseases, and cancer. Demand for its medications is driving its revenue growth.
Eli Lilly consistently returns cash to shareholders through share repurchases and dividends. The return of cash to shareholders through dividends and share buybacks was around $4.35 billion in 2021.
Not only that, but Lilly’s cost-reduction efforts are also bearing positive returns. In the past six years, the company has managed to achieve around 1,000 basis points worth of growth in its operating margin, which is impressive.
What is the Price Target for LLY Stock?
Earlier this month, Truist analyst Robyn Karnauskas maintained a Buy rating on LLY stock and also raised her price target to $421 from $400. The failure of Roche’s (OTC:RHHBY) Alzheimer's drug trial led the analyst to estimate a 5% increase in the penetration rate of Lilly’s competing drug, donanemab.
Wall Street is optimistic about the stock, too, with a Strong Buy consensus rating based on 12 Buys and two Holds. The current price is forecast to reach $383.69, implying 4.9% upside potential.
Salesforce (CRM)
Now coming to technology, Salesforce, a leading provider of on-demand Customer Relationship Management software, is one of the biggest beneficiaries of the rapid digital transformation across the globe. Impressively, the company is targeting revenue of $50 billion by the Fiscal Year 2026. If it happens, Salesforce will be the fastest enterprise software company to achieve that milestone. On a trailing-12-month basis, the company generated over $29 billion in revenue.
Additionally, Salesforce boasts a strong balance sheet with cash of about $13.5 billion as of July 31, 2022. This makes it easier for the company to pursue growth initiatives and enhance shareholders’ value without the help of more debt. At the same time, Salesforce’s total-debt-to-total-capital ratio was 8.5%. This makes the company an attractive stock to investors who are looking for relatively safe bets.
Ahead of its Q3 results on November 30, Wedbush analyst Daniel Ives reiterated an Outperform rating on Salesforce, with a price target of $215. The analyst expects Industry Cloud deal activity to have been high and Tableau and MuleSoft to have been better than expected.
What is the Price Target for CRM Stock?
Wall Street analysts think that CRM stock has the potential to increase by 38.8% over the next 12 months, reaching $213.31. Analysts have a Strong Buy consensus rating on CRM based on 24 Buys against seven Holds.
Apple (AAPL)
Apple is in a difficult situation currently, with a significantly lower-than-expected iPhone Pro production in sight. However, strong fundamentals and its massive size make it one of the most popular stocks among investors.
Even hedge funds are bullish about the stock, with more than 675,000 shares added to hedge fund portfolios in Q3. Interestingly enough, about 42% of the portfolio of Warren Buffet’s Berkshire Hathaway is made up of Apple stock.
However, even with Apple shares down 20% year-to-date, it’s still not inexpensive, with a forward P/E of 23.7x. Nonetheless, Wedbush analyst Daniel Ives reiterated a Buy rating and $200 price target for Apple. “Our bullish thesis on Apple is demand-driven, which is very firm, although these brutal supply shortages in the near-term remain a clear overhang for the stock to navigate,” assured the analyst.
What is the Price Target for AAPL Stock?
Apple is a Wall Street darling, with a Strong Buy consensus rating based on 24 Buys and four Holds. The average AAPL price target stands at $180.48, which indicates 25.1% upside potential.
Ending Thoughts
One cannot deny the challenges that await companies this year and next. Nonetheless, it is the long-term view that matters, and Wall Street never fails to show us that.
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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Recently, Merck (NYSE:MRK), Eli Lilly (NYSE:LLY), Apple (NASDAQ:AAPL), and Salesforce (NASDAQ:CRM) have been rated favorably by Wall Street analysts. Apple (AAPL) Apple is in a difficult situation currently, with a significantly lower-than-expected iPhone Pro production in sight. What is the Price Target for AAPL Stock?
|
Recently, Merck (NYSE:MRK), Eli Lilly (NYSE:LLY), Apple (NASDAQ:AAPL), and Salesforce (NASDAQ:CRM) have been rated favorably by Wall Street analysts. Apple (AAPL) Apple is in a difficult situation currently, with a significantly lower-than-expected iPhone Pro production in sight. What is the Price Target for AAPL Stock?
|
Recently, Merck (NYSE:MRK), Eli Lilly (NYSE:LLY), Apple (NASDAQ:AAPL), and Salesforce (NASDAQ:CRM) have been rated favorably by Wall Street analysts. Apple (AAPL) Apple is in a difficult situation currently, with a significantly lower-than-expected iPhone Pro production in sight. What is the Price Target for AAPL Stock?
|
Recently, Merck (NYSE:MRK), Eli Lilly (NYSE:LLY), Apple (NASDAQ:AAPL), and Salesforce (NASDAQ:CRM) have been rated favorably by Wall Street analysts. Apple (AAPL) Apple is in a difficult situation currently, with a significantly lower-than-expected iPhone Pro production in sight. What is the Price Target for AAPL Stock?
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18270.0
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2022-11-28 00:00:00 UTC
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US STOCKS-Wall St set to open lower on China's anti-lockdown protests; Apple slips
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-set-to-open-lower-on-chinas-anti-lockdown-protests-apple-slips
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nan
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nan
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By Ankika Biswas
Nov 28 (Reuters) - Wall Street's main indexes were set to open lower as protests in major Chinese cities against strict COVID-19 policies reignited concerns about economic growth, while Apple slipped on a report of disruption in production at a factory in China.
As China's strict zero-COVID policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance.
Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies.
"Chinese citizens ... have seen the rest of the world reopen and move back towards something close to pre-COVID like economies, but for China that hasn't happened," said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin, Texas.
Apple Inc AAPL.O fell 2.2% in premarket trading after a report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant.
Other megacap technology and growth stocks such as Microsoft Corp MSFT.O, Meta Platforms Inc META.O, Nvidia Corp NVDA.O, Netflix Inc NFLX.O and Tesla Inc TSLA.O fell between 0.8% and 2.0%.
At 8:22 a.m. ET, Dow e-minis 1YMcv1 were down 216 points, or 0.63%, S&P 500 e-minis EScv1 were down 33.75 points, or 0.84%, and Nasdaq 100 e-minis NQcv1 were down 99 points, or 0.84%.
Shares of e-commerce giant Amazon.com Inc AMZN.O edged 0.2% higher following a report that said spending on Cyber Monday, the biggest U.S. online shopping day, was set to hit a record $11.2 billion.
U.S.-listed shares of Chinese companies such as Bilibili Inc BILI.O, Alibaba Group Holding Ltd BABA.N, JD.com Inc JD.O, Baidu Inc BIDU.O and Nio Inc NIO.N lost between 0.8% and 1.7%.
On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street.
Among other major movers on Monday, MGM Resorts International MGM.N, Las Vegas Sands Corp LVS.N and Wynn Resorts Ltd WYNN.O rose between 2.1% and 5.1% after the Macau government said over the weekend that its six incumbent casino operators would be given to operate in the world's biggest gambling hub from January.
For the week, investors will keep a close watch on nonfarm payrolls for November, the second estimate for third-quarter gross domestic product and consumer confidence this month.
(Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Savio D'Souza and Shounak Dasgupta)
((Ankika.Biswas@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc AAPL.O fell 2.2% in premarket trading after a report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant. By Ankika Biswas Nov 28 (Reuters) - Wall Street's main indexes were set to open lower as protests in major Chinese cities against strict COVID-19 policies reignited concerns about economic growth, while Apple slipped on a report of disruption in production at a factory in China. As China's strict zero-COVID policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance.
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Apple Inc AAPL.O fell 2.2% in premarket trading after a report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant. By Ankika Biswas Nov 28 (Reuters) - Wall Street's main indexes were set to open lower as protests in major Chinese cities against strict COVID-19 policies reignited concerns about economic growth, while Apple slipped on a report of disruption in production at a factory in China. Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies.
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Apple Inc AAPL.O fell 2.2% in premarket trading after a report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant. By Ankika Biswas Nov 28 (Reuters) - Wall Street's main indexes were set to open lower as protests in major Chinese cities against strict COVID-19 policies reignited concerns about economic growth, while Apple slipped on a report of disruption in production at a factory in China. "Chinese citizens ... have seen the rest of the world reopen and move back towards something close to pre-COVID like economies, but for China that hasn't happened," said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin, Texas.
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Apple Inc AAPL.O fell 2.2% in premarket trading after a report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant. By Ankika Biswas Nov 28 (Reuters) - Wall Street's main indexes were set to open lower as protests in major Chinese cities against strict COVID-19 policies reignited concerns about economic growth, while Apple slipped on a report of disruption in production at a factory in China. "Chinese citizens ... have seen the rest of the world reopen and move back towards something close to pre-COVID like economies, but for China that hasn't happened," said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin, Texas.
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18271.0
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2022-11-28 00:00:00 UTC
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Protests leave China facing a terrible trilemma
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AAPL
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https://www.nasdaq.com/articles/protests-leave-china-facing-a-terrible-trilemma
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nan
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nan
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Reuters
Reuters
HONG KONG (Reuters Breakingviews) - Officials’ muddled response to spiking Covid cases has set off three consecutive days of demonstrations spanning cities and social classes. The government, having wasted two years prematurely congratulating itself for fending off the pandemic, is now unprepared to address the interrelated economic, health, and political crises resulting from its overconfidence.
The protests could prove the most critical test of President Xi Jinping’s rule. Although hard to measure, so far the crowds appear to be smaller in size than in 1989, when the government used tanks to crush a mass protest movement of disaffected college students and factory workers angered by official corruption, stagnant wages and 18% inflation. Some are shouting for Xi’s dismissal.
Or they may just be less concentrated. The unrest is broadly spread around the country with people pouring onto the streets in frustration at tough epidemic controls that are depressing lives and businesses with no end in sight.
As in 1989, the issues are economic and political, and national in scope; once again middle-class students and blue-collar labourers like those on assembly lines at Apple supplier Foxconn have found common cause. And the internet is facilitating protesters’ coordination, precisely what internal security services have spent decades trying to prevent.
The instability will accelerate the reversal of nascent investor optimism. Traders had poured back into beat-up shares in Chinese companies in early November after Beijing finally signalled it would start selectively easing Xi’s trademark “dynamic zero-Covid” approach. That was ill-timed. As the Hang Seng China Enterprises index rocketed up 27% in 11 trading days, new contagious variants of the virus were metastasizing; new cases exploded to over 40,000 on Sunday.
Cities reversed out of relaxation into intensified lockdown. However, because many elderly have declined vaccination, letting the disease rip would almost certainly cause a spike in deaths. Officials are also aware that for every citizen on the street griping about lockdowns, there is another who is terrified of catching Covid-19. When the city of Shijiazhuang tried to ease epidemic controls, for example, many residents cowered inside their flats instead of going shopping.
Such behaviour undermines arguments that abandoning Xi’s zero-Covid policy will instantly stimulate economic activity. The risk of high death rates and the still-rickety state of public healthcare systems in poorer regions make it tricky for the government to concede. A mix of carrots and sticks might clear demonstrators from the streets, but officials can neither intimidate nor placate the virus.
The bigger this wave of discontent gets, the more hard-liners may argue for a violent attack on dissent and a return to rigid quarantine. That carries its own risks. Some Beijing apologists argue that the Tiananmen crackdown enabled the subsequent era of wealth creation. Yet China’s economic growth slowed by nearly two-thirds in 1989 to 4% and stayed there the next year. In 2022, with real estate crashing, retail spending tepid, and exports down, the government can ill-afford further contraction. Even before factoring in Beijing’s response to the unrest, the International Monetary Fund expects a measly 3.2% GDP growth for China this year. But having patted themselves on the back into this corner, officials deserve little sympathy as they struggle to get out of it.
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CONTEXT NEWS
Protests over China's stringent Covid restrictions flared for a third day on Nov. 27, and spread to other cities in the wake of a deadly building fire which some demonstrators claimed was aggravated by quarantine measures that trapped residents inside the building. Local authorities denied the allegation.
Covid-19 cases began spiking in China in early November following a week-long public holiday. The government reported 40,347 new infections for Nov. 27 in an update issued Nov. 28.
Beijing announced 20 relaxations of the country’s pandemic policy on Nov. 11, including shorter quarantine periods and more narrowly targeted lockdowns.
(Editing by Una Galani and Katrina Hamlin)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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HONG KONG (Reuters Breakingviews) - Officials’ muddled response to spiking Covid cases has set off three consecutive days of demonstrations spanning cities and social classes. Although hard to measure, so far the crowds appear to be smaller in size than in 1989, when the government used tanks to crush a mass protest movement of disaffected college students and factory workers angered by official corruption, stagnant wages and 18% inflation. Traders had poured back into beat-up shares in Chinese companies in early November after Beijing finally signalled it would start selectively easing Xi’s trademark “dynamic zero-Covid” approach.
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HONG KONG (Reuters Breakingviews) - Officials’ muddled response to spiking Covid cases has set off three consecutive days of demonstrations spanning cities and social classes. Protests over China's stringent Covid restrictions flared for a third day on Nov. 27, and spread to other cities in the wake of a deadly building fire which some demonstrators claimed was aggravated by quarantine measures that trapped residents inside the building. Covid-19 cases began spiking in China in early November following a week-long public holiday.
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HONG KONG (Reuters Breakingviews) - Officials’ muddled response to spiking Covid cases has set off three consecutive days of demonstrations spanning cities and social classes. Although hard to measure, so far the crowds appear to be smaller in size than in 1989, when the government used tanks to crush a mass protest movement of disaffected college students and factory workers angered by official corruption, stagnant wages and 18% inflation. Protests over China's stringent Covid restrictions flared for a third day on Nov. 27, and spread to other cities in the wake of a deadly building fire which some demonstrators claimed was aggravated by quarantine measures that trapped residents inside the building.
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HONG KONG (Reuters Breakingviews) - Officials’ muddled response to spiking Covid cases has set off three consecutive days of demonstrations spanning cities and social classes. Cities reversed out of relaxation into intensified lockdown. Covid-19 cases began spiking in China in early November following a week-long public holiday.
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18272.0
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2022-11-28 00:00:00 UTC
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Apple Falls on China Fears, but This Nasdaq Stock Is Soaring Monday
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AAPL
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https://www.nasdaq.com/articles/apple-falls-on-china-fears-but-this-nasdaq-stock-is-soaring-monday
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nan
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nan
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Investors weren't entirely in the holiday spirit coming back from the long Thanksgiving break, and Wall Street saw stock indexes fall after they posted solid gains last week. The Nasdaq Composite (NASDAQINDEX: ^IXIC) opened down about 0.6% Monday morning when the trading session began.
Worries about the Chinese economy weighed on the overall market, but they were of particular concern to consumer electronics giant Apple (NASDAQ: AAPL) as it deals with potential problems that could disrupt supplies and hurt near-term financial results. However, the news was better for advertising-tech specialist Taboola (NASDAQ: TBLA), whose stock soared after making a deal with a well-known company with extensive digital property exposure.
Apple deals with challenges
Shares of Apple dropped about 2% early Monday, extending losses from Friday. The tech giant has been a focal point of problems in China linked to the zero-COVID policy there.
Apple and its Foxconn production partner have faced challenges at a key production facility in Zhengzhou, where COVID-related restrictions have led to protests among Chinese workers. In response, Foxconn has offered extensive bonuses in order to get the workers it needs to keep the facility running at reasonable capacity. Zhengzhou is the largest iPhone factory in the world, and Apple has relied on the facility for supplies of its newest iPhone 14 Pro and Pro Max lines of smartphones.
Even with those measures, though, Apple is likely to see production of iPhone Pro smartphones fall short of expectations by 6 million units, according to reports citing those familiar with operations. Moreover, if lockdowns continue in the area, there's the potential for even further shortfalls in iPhone production.
In the long run, Apple expects to be able to make up for any lost production in 2023. Yet with so much attention focused on the holiday shopping season, waiting until next year won't be an attractive option for many shoppers. Moreover, the difficult situation for Apple has broader implications across the industry, as it confirms that supply chain pressures remain persistent.
A big deal for Taboola
Elsewhere, shares of Taboola soared 66% early Monday morning. The provider of internet advertising services announced a valuable partnership that should boost its prospects in an increasingly competitive field.
Taboola and internet website giant Yahoo! have entered into a 30-year commercial agreement. Under the partnership, Taboola will be the exclusive provider powering native advertising across all of the digital properties that Yahoo! controls. Moreover, ad inventory will be available for interested purchasers using the Yahoo! demand-side advertising platform, which should make Taboola a leading native advertising offering for advertisers, publishers, and merchants using the internet.
In exchange for giving Taboola's business a big boost, Yahoo! will get just under a 25% equity interest in the advertising services company's stock. In addition, Yahoo! will have the right to name a member on the Taboola board of directors. Shareholders will have a chance to approve the deal on December 30, with expectations that the agreement will become effective during the first quarter of 2023.
Taboola and Yahoo! are hopeful that by working together, they can generate an extra $1 billion in annual revenue. That would be a nice boost for Yahoo!, but it would clearly have a much larger impact on the smaller Taboola. Monday's gains are a start in reversing a massive decline that took as much as 85% off Taboola's stock price since it went public through a special-purpose acquisition company in July 2021, but investors are hoping for an even bigger rebound in the months to come.
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Dan Caplinger has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Worries about the Chinese economy weighed on the overall market, but they were of particular concern to consumer electronics giant Apple (NASDAQ: AAPL) as it deals with potential problems that could disrupt supplies and hurt near-term financial results. Investors weren't entirely in the holiday spirit coming back from the long Thanksgiving break, and Wall Street saw stock indexes fall after they posted solid gains last week. Monday's gains are a start in reversing a massive decline that took as much as 85% off Taboola's stock price since it went public through a special-purpose acquisition company in July 2021, but investors are hoping for an even bigger rebound in the months to come.
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Worries about the Chinese economy weighed on the overall market, but they were of particular concern to consumer electronics giant Apple (NASDAQ: AAPL) as it deals with potential problems that could disrupt supplies and hurt near-term financial results. However, the news was better for advertising-tech specialist Taboola (NASDAQ: TBLA), whose stock soared after making a deal with a well-known company with extensive digital property exposure. A big deal for Taboola Elsewhere, shares of Taboola soared 66% early Monday morning.
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Worries about the Chinese economy weighed on the overall market, but they were of particular concern to consumer electronics giant Apple (NASDAQ: AAPL) as it deals with potential problems that could disrupt supplies and hurt near-term financial results. However, the news was better for advertising-tech specialist Taboola (NASDAQ: TBLA), whose stock soared after making a deal with a well-known company with extensive digital property exposure. A big deal for Taboola Elsewhere, shares of Taboola soared 66% early Monday morning.
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Worries about the Chinese economy weighed on the overall market, but they were of particular concern to consumer electronics giant Apple (NASDAQ: AAPL) as it deals with potential problems that could disrupt supplies and hurt near-term financial results. Apple and its Foxconn production partner have faced challenges at a key production facility in Zhengzhou, where COVID-related restrictions have led to protests among Chinese workers. will get just under a 25% equity interest in the advertising services company's stock.
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18273.0
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2022-11-28 00:00:00 UTC
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2 FAANG Stocks to Buy Now
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AAPL
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https://www.nasdaq.com/articles/2-faang-stocks-to-buy-now
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nan
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nan
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FAANG stocks, which includes Meta Platforms (NASDAQ: META), previously called Facebook, Amazon (NASDAQ: AMZN), Apple, Netflix, and Alphabet, previously called Google, have all seen dramatic share price declines after their respective third-quarter earnings results.
Long considered the darlings of the stock market, these tech giants have more recently been pressured by a combination of adverse factors. This includes an economic slowdown, rising inflation, supply chain challenges, intense competition, and increasing investor preference for value over growth stocks.
However, all is not lost yet. While a positive reset in tech valuations is awaited, Meta Platforms and Amazon are still fundamentally strong companies. Here's why they can prove to be attractive picks in the current market environment.
Meta Platforms
Lately, Meta Platforms has been getting a lot of bad press -- be it for its disappointing third-quarter earnings performance, weak fourth-quarter guidance, massive spending on its Metaverse concept, or rising competition with TikTok.
However, Meta still has loads of growth potential. The social media giant reported a 4% year-over-year decline in third-quarter revenue. But, excluding currency impact, the company reported a 2% year-over-year rise in revenue. The company also managed to report a 4% year-over-year jump to 3.71 billion users (who used the company's products at least once a day) in the third quarter. While not very impressive metrics, they nevertheless show that the company is growing even during the current advertising slowdown.
Meta has been experimenting with different content and advertising formats to reach out to a larger user base and improve targeted advertising. To that effect, the company is already finding some success with its Reels product -- a short video format that has already been played 140 billion times a day across Facebook and Instagram and is poised to grab market share from TikTok. Meta has also introduced click-to-messaging ads (businesses directly contacting customers) to monetize the huge user base on WhatsApp and Messenger.
Wall Street is viewing Meta Platforms' recent employee layoff (almost 13% of the workforce) as a positive move that will help rein in expenses and improve overall profitability. The company is exiting noncore hardware projects such as the Portal smart display business and smartwatch business to further reduce expenses. Meta also has a strong balance sheet, as evidenced by its cash balance of $41.8 billion, exceeding the total debt of $26.5 billion.
Meta is currently trading at 10.8 times earnings, which is close to its historically low levels. Hence, while investors may experience some stock price volatility for Meta in the short run owing to several unresolved challenges, the stock stands a good chance of significant recovery in the coming months.
Amazon
Shares of the e-commerce and cloud computing giant Amazon are currently down by over 43% so far this year. While some company-specific challenges such as rising operating expenses and supply chain disruptions have undoubtedly affected investor sentiment, Amazon has mainly suffered due to macroeconomic headwinds. However, the company's fundamentals are still very strong.
Launched in 2002, Amazon's cloud business (Amazon Web Services, or AWS) continues to be a cash cow for the company. Although AWS' third quarter revenue was up by 27% year over year to $20.5 billion, lower than the consensus estimate, the segment still accounts for almost all of the company's profits. AWS is a leader in the global cloud infrastructure services market and accounted for a share of 34% at the end of the third quarter. AWS is well-positioned to further benefit from rapid growth in the global cloud computing market, estimated to expand from $484 billion in 2022 to $1.5 trillion in 2030.
The retail business accounts for the biggest portion of Amazon's revenue, and it has been a drag on margins for the past several quarters. To resolve this problem, the company is focusing on expanding its third-party marketplace -- a move that is helping it reduce expenses (its first-party marketplace incurs expenses for inventories and order management) and rapidly expanding its product catalog at a minimal cost.
The retail business is also driving the growth of the company's digital advertising offering (Marketplace Ads). Thanks to insights obtained from first-party data, the company manages to show the most relevant advertisements to shoppers. Advertisers benefit from the high purchase intent of the shoppers on Amazon's website, which in turn is further fueling the company's advertising business.
U.S. retail sales rose 1.3% year over year in October 2022, the highest rise in the past eight months. This can be a positive sign for Amazon, especially during the holiday season. Hence, Amazon presents an attractive opportunity for long-term investors based on strength of its e-commerce, advertising, and cloud businesses.
10 stocks we like better than Meta Platforms, Inc.
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Meta Platforms, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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John Mackey, 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. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Manali Bhade has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Meta Platforms, Inc., and Netflix. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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To that effect, the company is already finding some success with its Reels product -- a short video format that has already been played 140 billion times a day across Facebook and Instagram and is poised to grab market share from TikTok. Wall Street is viewing Meta Platforms' recent employee layoff (almost 13% of the workforce) as a positive move that will help rein in expenses and improve overall profitability. While some company-specific challenges such as rising operating expenses and supply chain disruptions have undoubtedly affected investor sentiment, Amazon has mainly suffered due to macroeconomic headwinds.
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FAANG stocks, which includes Meta Platforms (NASDAQ: META), previously called Facebook, Amazon (NASDAQ: AMZN), Apple, Netflix, and Alphabet, previously called Google, have all seen dramatic share price declines after their respective third-quarter earnings results. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Meta Platforms, Inc., and Netflix. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple.
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FAANG stocks, which includes Meta Platforms (NASDAQ: META), previously called Facebook, Amazon (NASDAQ: AMZN), Apple, Netflix, and Alphabet, previously called Google, have all seen dramatic share price declines after their respective third-quarter earnings results. See the 10 stocks *Stock Advisor returns as of November 7, 2022 John Mackey, 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 Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Meta Platforms, Inc., and Netflix.
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The company also managed to report a 4% year-over-year jump to 3.71 billion users (who used the company's products at least once a day) in the third quarter. 10 stocks we like better than Meta Platforms, Inc. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Meta Platforms, Inc., and Netflix.
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18274.0
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2022-11-28 00:00:00 UTC
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Technology Sector Update for 11/28/2022: TBLA, AAPL, WLDS, XLK, SOXX
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AAPL
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https://www.nasdaq.com/articles/technology-sector-update-for-11-28-2022%3A-tbla-aapl-wlds-xlk-soxx
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nan
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nan
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Technology stocks were leaning lower premarket Monday. The Technology Select Sector SPDR ETF (XLK) and the Semiconductor Sector Index Fund (SOXX) were down more than 1% recently.
Taboola.com (TBLA) was gaining over 67% in value after the company and Yahoo announced a 30-year, exclusive commercial agreement. Under the agreement, Taboola will exclusively run native advertising across all of Yahoo's digital properties.
Apple (AAPL) is likely to see a production shortfall of around 6 million iPhone Pros this year due to ongoing worker unrest at supplier Foxconn's Zhengzhou plant in China, Bloomberg reported, citing an unnamed person familiar with the matter. Apple was recently down 2%.
Wearable Devices (WLDS) was down 2.6% after saying it has been notified that it is not in compliance with the Nasdaq Stock Market's minimum bid price requirement.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) is likely to see a production shortfall of around 6 million iPhone Pros this year due to ongoing worker unrest at supplier Foxconn's Zhengzhou plant in China, Bloomberg reported, citing an unnamed person familiar with the matter. Under the agreement, Taboola will exclusively run native advertising across all of Yahoo's digital properties. Wearable Devices (WLDS) was down 2.6% after saying it has been notified that it is not in compliance with the Nasdaq Stock Market's minimum bid price requirement.
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Apple (AAPL) is likely to see a production shortfall of around 6 million iPhone Pros this year due to ongoing worker unrest at supplier Foxconn's Zhengzhou plant in China, Bloomberg reported, citing an unnamed person familiar with the matter. Technology stocks were leaning lower premarket Monday. Taboola.com (TBLA) was gaining over 67% in value after the company and Yahoo announced a 30-year, exclusive commercial agreement.
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Apple (AAPL) is likely to see a production shortfall of around 6 million iPhone Pros this year due to ongoing worker unrest at supplier Foxconn's Zhengzhou plant in China, Bloomberg reported, citing an unnamed person familiar with the matter. The Technology Select Sector SPDR ETF (XLK) and the Semiconductor Sector Index Fund (SOXX) were down more than 1% recently. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) is likely to see a production shortfall of around 6 million iPhone Pros this year due to ongoing worker unrest at supplier Foxconn's Zhengzhou plant in China, Bloomberg reported, citing an unnamed person familiar with the matter. Technology stocks were leaning lower premarket Monday. Taboola.com (TBLA) was gaining over 67% in value after the company and Yahoo announced a 30-year, exclusive commercial agreement.
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18275.0
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2022-11-28 00:00:00 UTC
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Company News for Nov 28, 2022
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AAPL
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https://www.nasdaq.com/articles/company-news-for-nov-28-2022
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nan
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nan
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Shares of Apple Inc. AAPL fell 2% following news that a Foxconn plant in China will reduce iPhone shipment in November.
Shares of Activision Blizzard Inc. ATVI tumbled 4.1% following news that the FTC may sue Microsoft Corp. MSFT to block its $69 billion takeover bid of the former.
Manchester United plc’s MANU shares surged 12.8% following news that the owners will explore strategic alternatives, including a new investment or a potential sale
Coupa Software Inc.’s COUP shares surged 6.4% following news that Vista Equity Partners is mulling to acquire the company.
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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.
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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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Shares of Apple Inc. AAPL fell 2% following news that a Foxconn plant in China will reduce iPhone shipment in November. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Activision Blizzard, Inc (ATVI) : Free Stock Analysis Report Manchester United Ltd. (MANU) : Free Stock Analysis Report Coupa Software, Inc. (COUP) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Activision Blizzard Inc. ATVI tumbled 4.1% following news that the FTC may sue Microsoft Corp. MSFT to block its $69 billion takeover bid of the former.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Activision Blizzard, Inc (ATVI) : Free Stock Analysis Report Manchester United Ltd. (MANU) : Free Stock Analysis Report Coupa Software, Inc. (COUP) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Apple Inc. AAPL fell 2% following news that a Foxconn plant in China will reduce iPhone shipment in November. Manchester United plc’s MANU shares surged 12.8% following news that the owners will explore strategic alternatives, including a new investment or a potential sale Coupa Software Inc.’s COUP shares surged 6.4% following news that Vista Equity Partners is mulling to acquire the company.
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Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Activision Blizzard, Inc (ATVI) : Free Stock Analysis Report Manchester United Ltd. (MANU) : Free Stock Analysis Report Coupa Software, Inc. (COUP) : Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Apple Inc. AAPL fell 2% following news that a Foxconn plant in China will reduce iPhone shipment in November. Manchester United plc’s MANU shares surged 12.8% following news that the owners will explore strategic alternatives, including a new investment or a potential sale Coupa Software Inc.’s COUP shares surged 6.4% following news that Vista Equity Partners is mulling to acquire the company.
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Shares of Apple Inc. AAPL fell 2% following news that a Foxconn plant in China will reduce iPhone shipment in November. Click to get this free report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report Activision Blizzard, Inc (ATVI) : Free Stock Analysis Report Manchester United Ltd. (MANU) : Free Stock Analysis Report Coupa Software, Inc. (COUP) : Free Stock Analysis Report To read this article on Zacks.com click here. 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.
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18276.0
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2022-11-28 00:00:00 UTC
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Apple In For Shortfall Of IPhone Pro Units Due To China Protest?
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AAPL
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https://www.nasdaq.com/articles/apple-in-for-shortfall-of-iphone-pro-units-due-to-china-protest
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nan
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nan
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(RTTNews) - Apple Inc. may face production shortfall of as many as 6 million iPhone Pro units this year due to ongoing protests at its major China plant, Bloomberg reported citing a person familiar with assembly operations.
Following the news, Apple shares were losing around 2.2 percent in pre-market activity on the Nasdaq.
The tech major's key manufacturing hub of Zhengzhou has been affected severely by violent protests against Covid restrictions. iPhone Pro, Apple's most in-demand phones, are being produced at the facility, which is operated by Taiwanese company Foxconn Technology Group.
In China, increasing lockdowns due to record-high domestic daily Covid-19 cases, have fueled frustration among the population. There were violent clashes in "iPhone City" Zhengzhou, which plays a key role in the technology supply chain.
As per the report, estimate of lost production could change if lockdowns continue, and it also depends on when Foxconn can get workers back to production lines after protests.
Last week, Reuters had reported that Apple's iPhone production at the plant may fall at least 30 percent for November due to the unrest.
Earlier, Apple had warned that the shipments of iPhone 14 would be lower than expected due to the China Covid issues.
In October, certain employees had fled the iPhone production campus after food shortages. Workers, who replaced them, are now protesting over unpaid bonuses that were promised to them for continuing production at the plant despite the spread of COVID-19.
The views and 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. may face production shortfall of as many as 6 million iPhone Pro units this year due to ongoing protests at its major China plant, Bloomberg reported citing a person familiar with assembly operations. iPhone Pro, Apple's most in-demand phones, are being produced at the facility, which is operated by Taiwanese company Foxconn Technology Group. Last week, Reuters had reported that Apple's iPhone production at the plant may fall at least 30 percent for November due to the unrest.
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(RTTNews) - Apple Inc. may face production shortfall of as many as 6 million iPhone Pro units this year due to ongoing protests at its major China plant, Bloomberg reported citing a person familiar with assembly operations. iPhone Pro, Apple's most in-demand phones, are being produced at the facility, which is operated by Taiwanese company Foxconn Technology Group. Last week, Reuters had reported that Apple's iPhone production at the plant may fall at least 30 percent for November due to the unrest.
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(RTTNews) - Apple Inc. may face production shortfall of as many as 6 million iPhone Pro units this year due to ongoing protests at its major China plant, Bloomberg reported citing a person familiar with assembly operations. As per the report, estimate of lost production could change if lockdowns continue, and it also depends on when Foxconn can get workers back to production lines after protests. Last week, Reuters had reported that Apple's iPhone production at the plant may fall at least 30 percent for November due to the unrest.
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(RTTNews) - Apple Inc. may face production shortfall of as many as 6 million iPhone Pro units this year due to ongoing protests at its major China plant, Bloomberg reported citing a person familiar with assembly operations. The tech major's key manufacturing hub of Zhengzhou has been affected severely by violent protests against Covid restrictions. Last week, Reuters had reported that Apple's iPhone production at the plant may fall at least 30 percent for November due to the unrest.
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18277.0
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2022-11-28 00:00:00 UTC
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3 Stocks to Avoid This Week
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AAPL
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https://www.nasdaq.com/articles/3-stocks-to-avoid-this-week-54
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nan
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nan
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Last week was a step up investors long the market. The "three stocks to avoid" in my column that I thought were going to lose to the market last week -- Best Buy (NYSE: BBY), Luckin Coffee (OTC: LKNC.Y), and Apple (NASDAQ: AAPL) -- rose 13%, slipped 2%, and fell 12%, respectively, averaging out to a modest 0.3% dip.
The S&P 500 experienced a 1.5% move higher. I was right. I have been correct in 37 of the past 58 weeks, or 64% of the time.
Now let's look at the week ahead. I see Big Lots (NYSE: BIG), Baozun (NASDAQ: BZUN), and Coinbase (NASDAQ: COIN) as stocks you might want to consider steering clear of this week. Let's go over my near-term concerns with all three investments.
Image source: Getty Images.
1. Big Lots
Some retailers seem poised to thrive in an economic downturn, and Big Lots, in theory, would be one of them. The deep discounter of third-party overstock and clearance items should be recession resistant. When folks aren't spending money through traditional retail outlets, it gives Big Lots more merchandise to stock on better terms. Consumers also will trade down to get more bang out of their bucks.
Reality, though, has offered a wake-up call. Big Lots has been a dud. It has grown its sales by more than 2% just once over the past decade. Things have been even worse lately. When Big Lots offers up its fiscal third-quarter results on Thursday morning analysts see it checking in with its sixth consecutive quarter of year-over-year declines in sales.
Making matters worse, Big Lots is a heavily leveraged retailer with more than $2 billion in long-term debt on its balance sheet. Interest rates are rising, and that will make life harder for Big Lots.
2. Baozun
Chinese stocks are generally out of favor, but some models are more susceptible than others. Baozun arms its clients with e-commerce tools to reach out digitally to Chinese audiences. It was once attractive to global brands seeking a mindshare slice of the world's most populous nation. But it finds itself in a different world these days.
China's tightening of its restrictive policies finds overseas companies taking a step back in the country, and that's bad news for Baozun. We've seen revenue decelerate sharply in recent years.
2019: 35%.
2020: 22%.
2021: 6%.
This year is off to a challenging start. Its top line declined by 2% in the first quarter and 8% in the second quarter. Pandemic-related lockdowns in some parts of the country have weighed on results, but brands outside of China are generally hesitant to invest in the volatile market. We'll get a fresh read on Baozun when it reports financials before Tuesday's market open. With iffy business dynamics and Baozun falling short of Wall Street profit targets in three of the past four quarters, it's easy, and probably wise, to brace for a disappointing report.
3. Coinbase
There will eventually be a bounce in Coinbase shares. The leading crypto exchange has a strong balance sheet, and it's built to outlast its risk-taking peers that are paying the price for their lavish offerings.
The rub is that as its rivals buckle, distrust grows in the crypto community. Coinbase already has its back against the wall. Revenue has plummeted sharply for the last three consecutive quarters. Digital currencies failed to recover when stocks began to bounce back. Coinbase stock hit an all-time low last week, but that doesn't mean it has bottomed out.
It's going to be a bumpy road for some of these investments. If you're looking for safe stocks, you aren't likely to find them in Big Lots, Baozun, and Coinbase this week.
10 stocks we like better than Big Lots
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Rick Munarriz has positions in Apple. The Motley Fool has positions in and recommends Apple, Baozun, Best Buy, and Luckin Coffee. The Motley Fool recommends Big Lots and recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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The "three stocks to avoid" in my column that I thought were going to lose to the market last week -- Best Buy (NYSE: BBY), Luckin Coffee (OTC: LKNC.Y), and Apple (NASDAQ: AAPL) -- rose 13%, slipped 2%, and fell 12%, respectively, averaging out to a modest 0.3% dip. When Big Lots offers up its fiscal third-quarter results on Thursday morning analysts see it checking in with its sixth consecutive quarter of year-over-year declines in sales. With iffy business dynamics and Baozun falling short of Wall Street profit targets in three of the past four quarters, it's easy, and probably wise, to brace for a disappointing report.
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The "three stocks to avoid" in my column that I thought were going to lose to the market last week -- Best Buy (NYSE: BBY), Luckin Coffee (OTC: LKNC.Y), and Apple (NASDAQ: AAPL) -- rose 13%, slipped 2%, and fell 12%, respectively, averaging out to a modest 0.3% dip. I see Big Lots (NYSE: BIG), Baozun (NASDAQ: BZUN), and Coinbase (NASDAQ: COIN) as stocks you might want to consider steering clear of this week. The Motley Fool has positions in and recommends Apple, Baozun, Best Buy, and Luckin Coffee.
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The "three stocks to avoid" in my column that I thought were going to lose to the market last week -- Best Buy (NYSE: BBY), Luckin Coffee (OTC: LKNC.Y), and Apple (NASDAQ: AAPL) -- rose 13%, slipped 2%, and fell 12%, respectively, averaging out to a modest 0.3% dip. I see Big Lots (NYSE: BIG), Baozun (NASDAQ: BZUN), and Coinbase (NASDAQ: COIN) as stocks you might want to consider steering clear of this week. If you're looking for safe stocks, you aren't likely to find them in Big Lots, Baozun, and Coinbase this week.
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The "three stocks to avoid" in my column that I thought were going to lose to the market last week -- Best Buy (NYSE: BBY), Luckin Coffee (OTC: LKNC.Y), and Apple (NASDAQ: AAPL) -- rose 13%, slipped 2%, and fell 12%, respectively, averaging out to a modest 0.3% dip. I see Big Lots (NYSE: BIG), Baozun (NASDAQ: BZUN), and Coinbase (NASDAQ: COIN) as stocks you might want to consider steering clear of this week. Making matters worse, Big Lots is a heavily leveraged retailer with more than $2 billion in long-term debt on its balance sheet.
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18278.0
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2022-11-28 00:00:00 UTC
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Apple's Extreme Dependence on China Can No Longer Be Ignored
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AAPL
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https://www.nasdaq.com/articles/apples-extreme-dependence-on-china-can-no-longer-be-ignored
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nan
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nan
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Apple (NASDAQ: AAPL) has long depended on a small number of Chinese and Taiwanese factories to assemble most of its ultra-popular iPhone devices. In mainland China, Foxconn's assembly lines churn out Apple products at an immense scale. Foxconn's main plant in Zhengzhou employs 200,000 people, and the company is ultimately responsible for around 70% of global iPhone production.
There have always been massive risks associated with Apple's manufacturing strategy, and they have been well known for years. For one, depending on such a small number of suppliers for something as critical as iPhone assembly puts Apple at risk of major disruption if something goes wrong at one of those massive plants.
That concentration risk is supercharged by the fact that these plants are largely located in China and Taiwan. Relations between the U.S. and China are tense, and Taiwan is caught in the middle of that souring relationship.
From hypothetical to reality
So far, the risks Apple has taken to scale up iPhone production have paid off. The company generates more than $200 billion of revenue from the iconic devices each year. About half of the tech titan's total revenue comes from iPhone, and likely a higher percentage of its profit. For the most part, Apple has been able to keep iPhones flowing out of China and Taiwan and into the hands of consumers around the world.
The fragility of Apple's approach to manufacturing didn't matter until it suddenly did. China has taken extreme measures to keep COVID-19 under control, including harsh lockdowns. Factories can stay open under these lockdowns, but workers must live and work on-site.
Nearly three years into the pandemic, the Chinese government and Chinese factories are getting some real pushback on these measures. Some workers have reportedly fled Foxconn's main factory, and the company has reportedly offered bonuses in an attempt to retain employees. Protests have at times turned violent.
Reuters revealed in late October that production of iPhones at Foxconn's main plant could tumble by 30% due to the impact of harsh COVID-19 policies. On Monday, Bloomberg reported that Apple could fall short on production of its pricey iPhone Pro models by around 6 million units. That's around $6 billion worth of iPhones.
The situation could get substantially worse if Foxconn can't get its main plant running at full capacity soon. The Chinese government isn't backing down on its COVID-19 policies, creating immense uncertainty for iPhone production in the coming weeks and months.
Few options for Apple
Apple has been taking steps to shift some production away from China, but the scale and concentration of iPhone manufacturing has posed challenges. The company is now making some iPhone 14 units in India after a few years of manufacturing older models in the country, but shifting meaningful production capacity will be a slow process. Analysts at JPMorgan see around 25% of iPhones being produced in India by 2025.
That doesn't help Apple right now as production comes under pressure. Apple's manufacturing strategy is centered around efficiency, which has helped the tech giant produce impressive profits. But efficiency is fragile. Under the worst-case scenario, Apple will be unable to meet demand during the holiday season and perhaps beyond.
Shares of Apple have dropped this year, but the stock is no bargain. Trading for around 24 times earnings, investors may not be accounting for the short-term risk of production shortages or the long-term risk of implementing a less efficient manufacturing strategy. Apple's profits have surged over the past two years, but there's a real chance that some of those gains will be unwound as the company grapples with challenges posed by its extreme dependence on China.
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JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Timothy Green has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and JPMorgan Chase. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Apple (NASDAQ: AAPL) has long depended on a small number of Chinese and Taiwanese factories to assemble most of its ultra-popular iPhone devices. For one, depending on such a small number of suppliers for something as critical as iPhone assembly puts Apple at risk of major disruption if something goes wrong at one of those massive plants. The company is now making some iPhone 14 units in India after a few years of manufacturing older models in the country, but shifting meaningful production capacity will be a slow process.
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Apple (NASDAQ: AAPL) has long depended on a small number of Chinese and Taiwanese factories to assemble most of its ultra-popular iPhone devices. Few options for Apple Apple has been taking steps to shift some production away from China, but the scale and concentration of iPhone manufacturing has posed challenges. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple.
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Apple (NASDAQ: AAPL) has long depended on a small number of Chinese and Taiwanese factories to assemble most of its ultra-popular iPhone devices. From hypothetical to reality So far, the risks Apple has taken to scale up iPhone production have paid off. Few options for Apple Apple has been taking steps to shift some production away from China, but the scale and concentration of iPhone manufacturing has posed challenges.
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Apple (NASDAQ: AAPL) has long depended on a small number of Chinese and Taiwanese factories to assemble most of its ultra-popular iPhone devices. There have always been massive risks associated with Apple's manufacturing strategy, and they have been well known for years. Few options for Apple Apple has been taking steps to shift some production away from China, but the scale and concentration of iPhone manufacturing has posed challenges.
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18279.0
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2022-11-28 00:00:00 UTC
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US STOCKS-Wall St futures slip on China COVID woes; Apple falls
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-futures-slip-on-china-covid-woes-apple-falls
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Futures down: Dow 0.54%, S&P 0.79%, Nasdaq 0.89%
Nov 28 (Reuters) - U.S. stock index futures fell on Monday as protests in major Chinese cities against the country's strict zero-COVID policy re-ignited concerns about economic growth, while Apple shares slipped on a report of disruption in China production.
As China's strict policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance in China.
Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies.
One sign of that was Apple Inc AAPL.O, which fell 1.8% premarket after a media report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant.
Other mega-cap technology and growth stocks like Microsoft Corp MSFT.O, Meta Platforms Inc META.O, Nvidia Crop NVDA.O, Netflix Inc NFLX.O and Tesla Inc TSLA.O fell between 0.7% and 2.2%.
At 6:24 a.m. ET, Dow e-minis 1YMcv1 were down 184 points, or 0.54%, S&P 500 e-minis EScv1 were down 31.75 points, or 0.79%, and Nasdaq 100 e-minis NQcv1 were down 105.25 points, or 0.89%.
U.S.-listed shares of Chinese companies like Bilibili Inc BILI.O, Alibaba Group Holding Ltd BABA.N, JD.com Inc JD.O, Baidu Inc BIDU.O and Nio Inc NIO.N lost between 0.4% and 1.7%.
"The attention to holiday shoppers continues today, albeit online, as Cyber Monday starts. However, street protests against zero-COVID policy in China underline a harsher reality that is undermining market sentiment, at least for now," said Rabobank analysts in a note.
On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China.
(Reporting by Ankika Biswas in Bengaluru; Editing by Savio D'Souza)
((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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One sign of that was Apple Inc AAPL.O, which fell 1.8% premarket after a media report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant. Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies. However, street protests against zero-COVID policy in China underline a harsher reality that is undermining market sentiment, at least for now," said Rabobank analysts in a note.
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One sign of that was Apple Inc AAPL.O, which fell 1.8% premarket after a media report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant. Futures down: Dow 0.54%, S&P 0.79%, Nasdaq 0.89% Nov 28 (Reuters) - U.S. stock index futures fell on Monday as protests in major Chinese cities against the country's strict zero-COVID policy re-ignited concerns about economic growth, while Apple shares slipped on a report of disruption in China production. ET, Dow e-minis 1YMcv1 were down 184 points, or 0.54%, S&P 500 e-minis EScv1 were down 31.75 points, or 0.79%, and Nasdaq 100 e-minis NQcv1 were down 105.25 points, or 0.89%.
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One sign of that was Apple Inc AAPL.O, which fell 1.8% premarket after a media report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant. Futures down: Dow 0.54%, S&P 0.79%, Nasdaq 0.89% Nov 28 (Reuters) - U.S. stock index futures fell on Monday as protests in major Chinese cities against the country's strict zero-COVID policy re-ignited concerns about economic growth, while Apple shares slipped on a report of disruption in China production. As China's strict policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance in China.
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One sign of that was Apple Inc AAPL.O, which fell 1.8% premarket after a media report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's 2317.TW Zhengzhou plant. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Futures down: Dow 0.54%, S&P 0.79%, Nasdaq 0.89% Nov 28 (Reuters) - U.S. stock index futures fell on Monday as protests in major Chinese cities against the country's strict zero-COVID policy re-ignited concerns about economic growth, while Apple shares slipped on a report of disruption in China production.
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18280.0
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2022-11-28 00:00:00 UTC
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Will the Nasdaq or S&P 500 Have a Better 2023?
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AAPL
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https://www.nasdaq.com/articles/will-the-nasdaq-or-sp-500-have-a-better-2023
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nan
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nan
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As 2022 starts to close, it's only natural for investors to start peeking toward 2023. So far in 2022, the indexes have fared pretty miserably, with the Nasdaq-100 down 29% and the S&P 500 down 17%. Which one will have a better 2023?
Let's look at these indexes and their makeups and find out which is more likely to have a better 2023 ahead.
The indexes are highly concentrated on the top
At the top, the indexes have a lot of overlap.
COMPANY MAKEUP OF S&P 500
Apple 6.86%
Microsoft 5.43%
Alphabet* 3.34%
Amazon 2.53%
Berkshire Hathaway 1.67%
Data source: Slickcharts. Data as of Nov. 19. *Note: Both Alphabet class shares combined.
COMPANY MAKEUP OF NASDAQ-100
Apple 13.63%
Microsoft 10.15%
Alphabet* 6.74%
Amazon 5.44%
Tesla 3.20%
Data source: Slickcharts. Data as of Nov. 19. *Note: Both Alphabet class shares combined.
As you can see, Apple, Microsoft, Amazon, and Alphabet make up a considerable chunk of these indexes. In the S&P 500, they account for 19.83%. It's basically double for the Nasdaq-100, with that group making up 39.16% of the index. It's pretty straightforward: How these companies do will significantly steer how the overall index does.
While these three are tech-focused, they compete in different markets. Both Apple and Amazon are a good measure of the pulse of the consumer, as their sales are highly affected by consumer sentiment. If inflation cools, and consumers don't need to worry about rising grocery prices or housing costs, they may treat themselves to the latest device.
Alphabet and Microsoft are business-focused, but for different reasons. Alphabet's primary revenue stream is advertising, and many clients have pulled back their spending levels in 2022 due to the uncertain business environment. If the outlook improves, expect this revenue to return. Microsoft's cloud business and Office product suite indicate how willing businesses are to spend on their infrastructure, but Microsoft's consumer product division also indicates how individuals are doing.
If the consumer gets stronger and business outlook improves, these four will boom. If that's the case, then the Nasdaq-100 will likely have a better year because it is concentrated in companies that will benefit the most. But if 2023 brings an economic recession, the S&P 500's diversity will help it to outperform the Nasdaq-100.
The companies outside the top five are very different
For the S&P 500, when you move out of the top five, the companies become much more diverse.
COMPANY MAKEUP OF S&P 500
Tesla 1.47%
United Health Group
1.45%
ExxonMobil
1.42%
Johnson & Johnson
1.39%
Nvidia 1.18%
Data source: Slickcharts. Data as of Nov. 19.
Now, there are industrials, healthcare, and energy sectors represented, giving the index some much-needed balance. Looking at the top 20 reveals even more diversity, with financials, energy, and healthcare rounding the index out.
This is far from the case for the Nasdaq-100.
COMPANY MAKEUP OF NASDAQ-100
Nvidia 3.09%
PepsiCo 2.32%
Costco Wholesale 2.16%
Meta Platforms
2.14%
Broadcom 1.94%
Data source: Slickcharts. Data as of November 19. Note: Both Alphabet class shares combined.
Besides Pepsi and Costco, these companies are more in the tech sector. But, unlike the S&P 500, it doesn't get much better outside the top 10, with most of the top 20 consisting of chipmakers, communication companies, and software businesses. Now, this probably isn't a surprise because the media often refers to this index as the "tech-heavy Nasdaq."
Still, tech businesses don't do well if the economy is struggling.
Does that mean you should write the Nasdaq-100 off? Absolutely not. Tech stocks tend to do very well in the recovery phases of a recession. Plus, the stock market is forward-looking, and stocks usually tend to do better during a recession than leading up to one.
That last tidbit of information should keep investors in the market, especially now with a recession, or at least an economic slowdown, imminent. However, if you're trying to decide which index to buy, you need to utilize the 2023 outlook. If you think 2023 will be a repeat of 2022, then the S&P 500 is the better choice. On the other hand, if you believe the economy will begin to recover and the Federal Reserve eases its interest rate hikes, then the Nasdaq-100 is the place to be.
One last point: There's nothing wrong with owning both indexes if you don't know what 2023 will bring. Personally, I think this is an intelligent strategy, as it gives investors the upside of recovery and the safety of a balanced investment.
10 stocks we like better than Walmart
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Stock Advisor returns as of October 26, 2022
John Mackey, 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. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keithen Drury has positions in Alphabet (C shares), Amazon, Costco Wholesale, Nvidia, and Tesla. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), Costco Wholesale, Meta Platforms, Inc., Microsoft, Nvidia, and Tesla. The Motley Fool recommends Broadcom Ltd, Johnson & Johnson, and UnitedHealth Group and recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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If inflation cools, and consumers don't need to worry about rising grocery prices or housing costs, they may treat themselves to the latest device. Alphabet's primary revenue stream is advertising, and many clients have pulled back their spending levels in 2022 due to the uncertain business environment. On the other hand, if you believe the economy will begin to recover and the Federal Reserve eases its interest rate hikes, then the Nasdaq-100 is the place to be.
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Apple 6.86% Microsoft 5.43% Alphabet* 3.34% Amazon 2.53% Berkshire Hathaway 1.67% Data source: Slickcharts. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), Costco Wholesale, Meta Platforms, Inc., Microsoft, Nvidia, and Tesla. The Motley Fool recommends Broadcom Ltd, Johnson & Johnson, and UnitedHealth Group and recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple.
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See the 10 stocks Stock Advisor returns as of October 26, 2022 John Mackey, 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 Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), Costco Wholesale, Meta Platforms, Inc., Microsoft, Nvidia, and Tesla. The Motley Fool recommends Broadcom Ltd, Johnson & Johnson, and UnitedHealth Group and recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple.
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Apple 6.86% Microsoft 5.43% Alphabet* 3.34% Amazon 2.53% Berkshire Hathaway 1.67% Data source: Slickcharts. Still, tech businesses don't do well if the economy is struggling. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), Costco Wholesale, Meta Platforms, Inc., Microsoft, Nvidia, and Tesla.
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18281.0
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2022-11-28 00:00:00 UTC
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Down 17%, Is Apple Stock a Buy Now?
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AAPL
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https://www.nasdaq.com/articles/down-17-is-apple-stock-a-buy-now
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nan
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nan
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Apple's (NASDAQ: AAPL) incredible financial strength has allowed it to weather the current bear market better than many other tech stocks. Yet its shares are still down about 17% year to date. The tech titan, in turn, has lost a staggering $500 billion in market value.
Could this be an opportunity for investors to buy Apple's stock at a bargain price?
The bull case for Apple's stock
A couple of years ago, Warren Buffett called Apple "probably the best business I know in the world." That's high praise from the legendary investor.
Incredibly, Apple has only grown stronger since then. The technology leader generated a staggering $99.8 billion in net income and $111.4 billion in free cash flow over the trailing 12 months. That's up from $57.4 billion and $73.4 billion, respectively, in 2020.
This breathtaking financial performance is derived from a relatively simple business model. Apple makes and sells its popular iPhones, Macs, iPads, and wearable devices. It then sells an array of services to its massive base of users.
Together, these devices and services form a vast ecosystem that tends to be quite sticky. Once a person buys an Apple product, they tend to remain a loyal customer. This is why investors are increasingly viewing Apple as a utility-like business -- one with dependable, recurring revenue and reliable cash flow. Like the best utility stocks, Apple is rewarding its shareholders with a steadily rising dividend stream and bountiful stock buybacks, both of which help to bolster its share price.
AAPL data by YCharts
Moreover, Apple's robust cash flow generation and fortress-like balance sheet -- which contained over $169 billion in cash and investments as of Sept. 24 -- allow it not just to survive but thrive during difficult economic environments. Apple also tends to outperform its less financially sound rivals during these times. Many investors have thus come to view Apple's stock as a safe haven during the current market downturn, which is one of the reasons why it has performed better than many other tech stocks this year. The defensive nature of its business should continue to serve Apple well in the coming years.
Apple's stock is reasonably priced
Apple's shares can currently be had for less than 22 times analysts' earnings estimates for the year ahead. That's slightly less expensive than the forward price-to-earnings (P/E) ratio of the Nasdaq-100 index, which stands at about 22.5. Apple is arguably the best business in that index. But rather than paying a premium for quality, as is typically required, you can buy Apple's stock at a slight discount today.
The tech giant may have a lower projected growth rate than some of the Nasdaq-100 index's more rapidly expanding constituents, but Apple is still expected to increase its earnings per share by roughly 9% annually over the next half-decade. Its P/E ratio thus seems quite reasonable, particularly when considering its powerful competitive advantages and unrivaled financial fortitude.
Risks for investors to consider
Individuals and businesses spent heavily on laptops and other mobile devices during the early stages of the pandemic, as the work-from-home trend gained steam. But those purchases pulled forward some sales that would otherwise be taking place today, and the personal computer (PC) industry is now experiencing a sharp pullback in demand.
PC shipments fell 15% year over year in the third quarter, according to research firm IDC. The phone industry is experiencing a similar dynamic, with smartphone sales down 9.7% in the same period. These trends could dampen Apple's results if they persist.
That said, Apple was able to generate higher Mac and iPhone sales in the third quarter despite the downturn, due in part to its unmatched customer loyalty. Mac sales jumped 25% to $11.5 billion, while its iPhone revenue rose 10% to a whopping $42.6 billion.
Yet even if demand for its devices remains strong, Apple could find it difficult to produce enough of its products in the coming quarters. China continues to respond to new COVID-19 outbreaks by instituting strict lockdowns. With some of its most important manufacturing sites in China, Apple may face supply shortages for key products like the iPhone. These challenges should, however, abate when the pandemic eventually subsides.
So, is Apple's stock a buy?
With its popular products continuing to sell well, and its utility-like cash flows helping to bolster its already awe-inspiring financial strength, Apple could be the bastion you're seeking in the current economic storm. With near-term risks likely already reflected in its discounted share price, Apple's stock is a solid buy today for long-term investors.
10 stocks we like better than Apple
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Apple's (NASDAQ: AAPL) incredible financial strength has allowed it to weather the current bear market better than many other tech stocks. AAPL data by YCharts Moreover, Apple's robust cash flow generation and fortress-like balance sheet -- which contained over $169 billion in cash and investments as of Sept. 24 -- allow it not just to survive but thrive during difficult economic environments. The tech giant may have a lower projected growth rate than some of the Nasdaq-100 index's more rapidly expanding constituents, but Apple is still expected to increase its earnings per share by roughly 9% annually over the next half-decade.
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Apple's (NASDAQ: AAPL) incredible financial strength has allowed it to weather the current bear market better than many other tech stocks. AAPL data by YCharts Moreover, Apple's robust cash flow generation and fortress-like balance sheet -- which contained over $169 billion in cash and investments as of Sept. 24 -- allow it not just to survive but thrive during difficult economic environments. Apple's stock is reasonably priced Apple's shares can currently be had for less than 22 times analysts' earnings estimates for the year ahead.
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Apple's (NASDAQ: AAPL) incredible financial strength has allowed it to weather the current bear market better than many other tech stocks. AAPL data by YCharts Moreover, Apple's robust cash flow generation and fortress-like balance sheet -- which contained over $169 billion in cash and investments as of Sept. 24 -- allow it not just to survive but thrive during difficult economic environments. The bull case for Apple's stock A couple of years ago, Warren Buffett called Apple "probably the best business I know in the world."
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Apple's (NASDAQ: AAPL) incredible financial strength has allowed it to weather the current bear market better than many other tech stocks. AAPL data by YCharts Moreover, Apple's robust cash flow generation and fortress-like balance sheet -- which contained over $169 billion in cash and investments as of Sept. 24 -- allow it not just to survive but thrive during difficult economic environments. Many investors have thus come to view Apple's stock as a safe haven during the current market downturn, which is one of the reasons why it has performed better than many other tech stocks this year.
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2022-11-28 00:00:00 UTC
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Since 2016, Warren Buffett Has Bought $9 Billion More of This Stock Than Apple and Chevron, Combined!
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https://www.nasdaq.com/articles/since-2016-warren-buffett-has-bought-%249-billion-more-of-this-stock-than-apple-and-chevron
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There's a very good reason everyone from Wall Street professionals to retail investors closely eye billionaire Warren Buffett's buying and selling activity. Since he took over as Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO in 1965, he's outpaced the aggregate return of the S&P 500, including dividends paid, by a factor of 120! While not infallible, the Oracle of Omaha has demonstrated a penchant for running circles around the broad market indexes.
Thankfully, tracking Warren Buffett's money moves is relatively easy to do. Money managers and wealthy individuals with at least $100 million in assets under management are required to file Form 13F with the Securities and Exchange Commission no later than 45 days following the end of a quarter. A 13F allows investors to see what the most-successful investors on Wall Street bought and sold in the latest quarter.
For Buffett, two companies have seemingly dominated its 13F filings since 2016 began: Apple (NASDAQ: AAPL) and Chevron (NYSE: CVX).
Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.
Warren Buffett has spent $54 billion, combined, buying Apple and Chevron stock
According to 13F aggregator WhaleWisdom.com, Berkshire Hathaway has purchased more than 894 million shares of Apple at an estimated average price of $37.17 since the beginning of 2016. This works out to a cost basis of approximately $33.26 billion.
In his annual letter to shareholders, Buffett describes Apple as one of Berkshire Hathaway's "four giants." That's because Apple represents just shy of 40% of Berkshire Hathaway's $348 billion of invested assets.
The Oracle of Omaha's confidence in Apple is a reflection of the company's superior branding, innovation, and capital-return program. In terms of the former, Apple is typically viewed as one of the most-valuable brands in the world, with an incredibly loyal customer base.
But what's been really special about Apple is how innovation has driven its sales and profits higher for more than a decade. The iPhone accounts for more than half of all U.S. smartphone market share, and the company's burgeoning subscription services segment has managed to buck economic uncertainty and deliver sustained double-digit year-over-year sales growth. Subscription services will play a key role in minimizing the revenue ebbs-and-flows that accompany iPhone replacement cycles.
There's also Apple's amazing capital-return program. Since recommencing stock repurchases nine years ago, the company has bought back $554 billion worth of its shares. Further, Apple has one of the largest nominal-dollar dividend payouts on the planet. Buffett has always been a fan of companies that return money to their shareholders.
The other huge buy for Berkshire Hathaway's portfolio has been energy stock Chevron. Since the fourth quarter of 2020, Buffett's company has amassed more than 165.3 million shares, equating to about an 8.5% stake in Chevron. Using an estimated cost basis of $126.32 per share, provided by WhaleWisdom.com, works out to a $20.89 billion initial price tag for Berkshire's position.
After having little or no role in Berkshire Hathaway's portfolio for much of the past two decades, energy stocks are now the third-largest sector by weighting. This would almost certainly indicate that the Oracle of Omaha expects the price for energy commodities (oil, natural gas, and natural gas liquids) to remain well above their historic averages.
The biggest catalyst lifting the price of energy commodities is the globally challenged energy supply chain. Russia's invasion of Ukraine has brought into question near-term oil and gas supply needs for Europe. Meanwhile, underinvestment in drilling, exploration, and infrastructure during the COVID-19 pandemic will make it difficult to increase supply as demand needs accelerate. This is all favorable for higher oil and natural gas prices.
As I've previously stated, Chevron's integrated operating structure is another selling point. In addition to its high-margin drilling segment, it operates transmission pipelines, chemical plants, and refineries. Pipelines produce highly predictable cash flow, while downstream assets like chemical plants and refineries benefit from lower input costs and solid demand when the price of oil declines. In other words, Chevron is hedged for whatever the energy market throws its way.
And lest I forget, Chevron has a hearty capital-return program. The oil giant is expected to repurchase up to $15 billion of its common stock this year, and has raised its base annual payout for 35 consecutive years.
Image source: Getty Images.
This stock has been an even more popular buy than Apple or Chevron
But what if I told you that neither Apple nor Chevron were the Oracle of Omaha's biggest buys over the past six years? Better yet, what if I said that Buffett had bought more of a stock not listed on the company's quarterly 13F filings than Apple and Chevron, combined?
According to Berkshire Hathaway's third-quarter operating results, Warren Buffett and executive vice chairman Charlie Munger oversaw the repurchase of just over $1 billion worth of their own company's Class A (BRK.A) shares. This comes atop $62.1 billion worth of Class A and Class B share buybacks between mid-2018 and mid-2022. Altogether, we're talking about $63.1 billion put to work repurchasing Berkshire Hathaway stock. That's $9 billion more than was spent buying shares of Apple and Chevron, combined, since 2016 began.
If you haven't figured it out by now, Warren Buffett really loves stock buybacks and the benefits they bring to the table. For starters, buying back Berkshire Hathaway stock increases the ownership stake of each existing shareholder. What's more, reducing the outstanding share count for companies with steady or growing net income (like Berkshire Hathaway) can lead to progressively higher earnings per share. This can make a stock more attractive to investors on a fundamental basis.
But more than anything, Warren Buffett buying back $63.1 billion worth of his own stock since mid-2018 is an indication that he's more confident than ever in the foundation he's laid for Berkshire Hathaway. The roughly five dozen companies Berkshire has acquired over many decades, as well as its $348 billion investment portfolio, are packed with cyclical businesses -- i.e., companies that ebb-and-flow with the performance of the U.S. and/or global economy. Since periods of economic expansion have historically lasted considerably longer than recessions, Buffett's patience is paying big dividends over time.
As long as the current bear market persists -- and Berkshire Hathaway's collective cash and U.S. Treasuries balance remains above the $30 billion required to execute buybacks -- look for Buffett and his right-hand man Munger to keep their feet on the accelerator.
10 stocks we like better than Berkshire Hathaway (B shares)
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*Stock Advisor returns as of November 7, 2022
Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway (B shares). The Motley Fool recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on 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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For Buffett, two companies have seemingly dominated its 13F filings since 2016 began: Apple (NASDAQ: AAPL) and Chevron (NYSE: CVX). The iPhone accounts for more than half of all U.S. smartphone market share, and the company's burgeoning subscription services segment has managed to buck economic uncertainty and deliver sustained double-digit year-over-year sales growth. Pipelines produce highly predictable cash flow, while downstream assets like chemical plants and refineries benefit from lower input costs and solid demand when the price of oil declines.
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For Buffett, two companies have seemingly dominated its 13F filings since 2016 began: Apple (NASDAQ: AAPL) and Chevron (NYSE: CVX). Warren Buffett has spent $54 billion, combined, buying Apple and Chevron stock According to 13F aggregator WhaleWisdom.com, Berkshire Hathaway has purchased more than 894 million shares of Apple at an estimated average price of $37.17 since the beginning of 2016. This would almost certainly indicate that the Oracle of Omaha expects the price for energy commodities (oil, natural gas, and natural gas liquids) to remain well above their historic averages.
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For Buffett, two companies have seemingly dominated its 13F filings since 2016 began: Apple (NASDAQ: AAPL) and Chevron (NYSE: CVX). Warren Buffett has spent $54 billion, combined, buying Apple and Chevron stock According to 13F aggregator WhaleWisdom.com, Berkshire Hathaway has purchased more than 894 million shares of Apple at an estimated average price of $37.17 since the beginning of 2016. This stock has been an even more popular buy than Apple or Chevron But what if I told you that neither Apple nor Chevron were the Oracle of Omaha's biggest buys over the past six years?
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For Buffett, two companies have seemingly dominated its 13F filings since 2016 began: Apple (NASDAQ: AAPL) and Chevron (NYSE: CVX). Warren Buffett has spent $54 billion, combined, buying Apple and Chevron stock According to 13F aggregator WhaleWisdom.com, Berkshire Hathaway has purchased more than 894 million shares of Apple at an estimated average price of $37.17 since the beginning of 2016. The other huge buy for Berkshire Hathaway's portfolio has been energy stock Chevron.
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2022-11-28 00:00:00 UTC
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Japan's Nikkei slips amid China COVID worries; tech shares slide
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https://www.nasdaq.com/articles/japans-nikkei-slips-amid-china-covid-worries-tech-shares-slide
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By Kevin Buckland
TOKYO, Nov 28 (Reuters) - Japan's Nikkei share average slid for a second straight session on Monday, as protests in China over renewed COVID-19 clampdowns hurt investor sentiment, while tech stocks declined in line with their Wall Street peers.
The Nikkei .N225 ended the day down 0.42% at 28,162.83. The index closed 0.35% lower on Friday after hitting a more than two-month high in the session before.
Of the Nikkei's 225 components, 173 fell, 45 rose and seven closed flat.
The broader Topix .TOPX sank 0.68%.
Selling in Japanese stocks accelerated after Chinese and Hong Kong equity markets opened sharply lower, with the Hang Seng index tumbling 4.2% at one point. However, both the Nikkei and Topix indexes ended the day well off their lows.
A wave of protests unprecedented under Xi Jinping's rule has swept China, including clashes with police in Shanghai, after the government doubled down on pandemic restrictions to contain a surge in COVID cases.
"This news is definitely a negative for Japanese stocks, especially the tech sector, which has large exposure to Chinese markets and supply chains," said Kenji Abe, an equity strategist at Daiwa.
"A slowdown in the Chinese economy will have a big impact on the Japanese stock market."
Tech stocks were already under pressure after Apple AAPL.N fell sharply on Friday following a report that COVID restrictions would further cut output at its flagship iPhone factory in China. The Philadelphia SE Semiconductor Index .SOX also sagged 1.26% on Friday.
Chipmaking equipment makers Tokyo Electron 8035.T and Advantest 6857.T dropped 1.56% and 0.54%, respectively.
Startup investor SoftBank Group 9984.T - which is heavily invested in Chinese tech companies including Alibaba and Didi - slid 0.61%.
Nintendo 7974.T and Sony 6758.T slumped 0.89% and 0.78% respectively, also weighed down by a stronger yen that cut the outlook for overseas revenue.
Toyota 7203.T and Honda 7267.T fell 1.05% and 0.53%, respectively.
(Reporting by Kevin Buckland; editing by Uttaresh.V and Subhranshu Sahu)
((Kevin.Buckland@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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Tech stocks were already under pressure after Apple AAPL.N fell sharply on Friday following a report that COVID restrictions would further cut output at its flagship iPhone factory in China. By Kevin Buckland TOKYO, Nov 28 (Reuters) - Japan's Nikkei share average slid for a second straight session on Monday, as protests in China over renewed COVID-19 clampdowns hurt investor sentiment, while tech stocks declined in line with their Wall Street peers. A wave of protests unprecedented under Xi Jinping's rule has swept China, including clashes with police in Shanghai, after the government doubled down on pandemic restrictions to contain a surge in COVID cases.
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Tech stocks were already under pressure after Apple AAPL.N fell sharply on Friday following a report that COVID restrictions would further cut output at its flagship iPhone factory in China. Selling in Japanese stocks accelerated after Chinese and Hong Kong equity markets opened sharply lower, with the Hang Seng index tumbling 4.2% at one point. However, both the Nikkei and Topix indexes ended the day well off their lows.
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Tech stocks were already under pressure after Apple AAPL.N fell sharply on Friday following a report that COVID restrictions would further cut output at its flagship iPhone factory in China. By Kevin Buckland TOKYO, Nov 28 (Reuters) - Japan's Nikkei share average slid for a second straight session on Monday, as protests in China over renewed COVID-19 clampdowns hurt investor sentiment, while tech stocks declined in line with their Wall Street peers. Selling in Japanese stocks accelerated after Chinese and Hong Kong equity markets opened sharply lower, with the Hang Seng index tumbling 4.2% at one point.
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Tech stocks were already under pressure after Apple AAPL.N fell sharply on Friday following a report that COVID restrictions would further cut output at its flagship iPhone factory in China. The index closed 0.35% lower on Friday after hitting a more than two-month high in the session before. Of the Nikkei's 225 components, 173 fell, 45 rose and seven closed flat.
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2022-11-28 00:00:00 UTC
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Should Invesco FTSE RAFI US 1000 ETF (PRF) Be on Your Investing Radar?
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https://www.nasdaq.com/articles/should-invesco-ftse-rafi-us-1000-etf-prf-be-on-your-investing-radar-4
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If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the Invesco FTSE RAFI US 1000 ETF (PRF), a passively managed exchange traded fund launched on 12/19/2005.
The fund is sponsored by Invesco. It has amassed assets over $6.08 billion, making it one of the larger ETFs attempting to match the Large Cap Value segment of the US equity market.
Why Large Cap Value
Companies that find themselves in the large cap category typically 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.
Value stocks have lower than average price-to-earnings and price-to-book ratios. They also have lower than average sales and earnings growth rates. Looking at their long-term performance, value stocks have outperformed growth stocks in almost all markets. They are however likely to underperform growth stocks in strong bull markets.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.39%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.92%.
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 Financials sector--about 19.10% of the portfolio. Healthcare and Information Technology round out the top three.
Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 2.37% of total assets, followed by Berkshire Hathaway Inc (BRK/B) and Apple Inc (AAPL).
The top 10 holdings account for about 15.76% of total assets under management.
Performance and Risk
PRF seeks to match the performance of the FTSE RAFI US 1000 Index before fees and expenses. The FTSE RAFI US 1000 Index is designed to track the performance of the largest U.S. equities, selected based on the following four fundamental measures of firm size: book value, income, sales and dividends. U.S. equities are then weighted by each of these four fundamental measures.An overall weight is calculated for each firm by equally-weighting each fundamental measure.
The ETF has lost about -4.75% so far this year and is down about -2.84% in the last one year (as of 11/28/2022). In the past 52-week period, it has traded between $138.77 and $175.48.
The ETF has a beta of 1.01 and standard deviation of 25.46% for the trailing three-year period, making it a medium risk choice in the space. With about 1008 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco FTSE RAFI US 1000 ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, PRF is an outstanding option for investors seeking exposure to the Style Box - Large Cap Value segment of the market. There are other additional ETFs in the space that investors could consider as well.
The iShares Russell 1000 Value ETF (IWD) and the Vanguard Value ETF (VTV) track a similar index. While iShares Russell 1000 Value ETF has $55.26 billion in assets, Vanguard Value ETF has $107.31 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.
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.
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
Invesco FTSE RAFI US 1000 ETF (PRF): ETF Research Reports
Apple Inc. (AAPL) : Free Stock Analysis Report
Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
Vanguard Value ETF (VTV): ETF Research Reports
iShares Russell 1000 Value ETF (IWD): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 2.37% of total assets, followed by Berkshire Hathaway Inc (BRK/B) and Apple Inc (AAPL). Click to get this free report Invesco FTSE RAFI US 1000 ETF (PRF): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the Invesco FTSE RAFI US 1000 ETF (PRF), a passively managed exchange traded fund launched on 12/19/2005.
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Click to get this free report Invesco FTSE RAFI US 1000 ETF (PRF): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 2.37% of total assets, followed by Berkshire Hathaway Inc (BRK/B) and Apple Inc (AAPL). If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the Invesco FTSE RAFI US 1000 ETF (PRF), a passively managed exchange traded fund launched on 12/19/2005.
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Click to get this free report Invesco FTSE RAFI US 1000 ETF (PRF): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 2.37% of total assets, followed by Berkshire Hathaway Inc (BRK/B) and Apple Inc (AAPL). Alternatives Invesco FTSE RAFI US 1000 ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors.
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Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 2.37% of total assets, followed by Berkshire Hathaway Inc (BRK/B) and Apple Inc (AAPL). Click to get this free report Invesco FTSE RAFI US 1000 ETF (PRF): ETF Research Reports Apple Inc. (AAPL) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. If you're interested in broad exposure to the Large Cap Value segment of the US equity market, look no further than the Invesco FTSE RAFI US 1000 ETF (PRF), a passively managed exchange traded fund launched on 12/19/2005.
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US STOCKS-Wall St losses limited as Amazon gains on upbeat Cyber Monday
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https://www.nasdaq.com/articles/us-stocks-wall-st-losses-limited-as-amazon-gains-on-upbeat-cyber-monday
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By Ankika Biswas and Shreyashi Sanyal
Nov 28 (Reuters) - Wall Street's main indexes fell on Monday amid worries about protests in major Chinese cities against strict COVID-19 policies, although gains in Amazon helped limit losses as Cyber Monday sales were set for a record.
Shares of the e-commerce giant AMZN.Orose 2% following an industry report that spending on Cyber Monday, the biggest U.S. online shopping day, might go as high as $11.6 billion, encouraged by some of the biggest discounts and deals to attract inflation-wary consumers.
The biggest drag on the benchmark S&P 500 .SPX index, however, were Apple Inc AAPL.O shares, whichfell 1.5% after a reportthat the company would see a further shortfall in production due to unrest at the world's biggest iPhone factory in China.
Rare protests in major Chinese cities over the weekend against the country's strict zero-COVID curbs have hit growth expectations in the world's second-largest economy.
"If these protests continue, it could disrupt supply chains and the reopenings, a glimpse of which we saw earlier this year," said Brian Klimke, director ofinvestment researchat Cetera Financial Group. "It will continue to weigh on investors' minds going forward."
The S&P 500 energy index .SPNY fell 2.5% and led declines among main sectors, as oil prices dropped close to their lowest this year after news of China protests. O/R
Trading in other growth stocks, includingMicrosoft Corp MSFT.O, Meta Platforms Inc META.O, Nvidia Corp NVDA.O, Netflix Inc NFLX.O and Tesla Inc TSLA.O, were mixed.
At 10:01 a.m. ET, the Dow Jones Industrial Average .DJI was down 160.29 points, or 0.47%, at 34,186.74, the S&P 500 .SPX was down 24.31 points, or 0.60%, at 4,001.81, and the Nasdaq Composite .IXIC was down 39.21 points, or 0.35%, at 11,187.15.
All three indexes ended the Thanksgiving week with gains, led by the Dow, which rose 1.78%.
Among other stocks, Biogen Inc BIIB.Ofell 2.3% following a report of death in its experimental Alzheimer's drug trial.
For the week, investors will keep a close watch on nonfarm payrolls for November, the second estimate for third-quarter gross domestic product and consumer confidence this month.
Declining issues outnumbered advancers for a 2.86-to-1 ratio on the NYSE and for a 1.66-to-1 ratio on the Nasdaq.
The S&P index recorded eight new 52-week highs and no new low, while the Nasdaq recorded 45 new highs and 51 new lows.
(Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Anil D'Silva)
((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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The biggest drag on the benchmark S&P 500 .SPX index, however, were Apple Inc AAPL.O shares, whichfell 1.5% after a reportthat the company would see a further shortfall in production due to unrest at the world's biggest iPhone factory in China. Rare protests in major Chinese cities over the weekend against the country's strict zero-COVID curbs have hit growth expectations in the world's second-largest economy. "If these protests continue, it could disrupt supply chains and the reopenings, a glimpse of which we saw earlier this year," said Brian Klimke, director ofinvestment researchat Cetera Financial Group.
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The biggest drag on the benchmark S&P 500 .SPX index, however, were Apple Inc AAPL.O shares, whichfell 1.5% after a reportthat the company would see a further shortfall in production due to unrest at the world's biggest iPhone factory in China. By Ankika Biswas and Shreyashi Sanyal Nov 28 (Reuters) - Wall Street's main indexes fell on Monday amid worries about protests in major Chinese cities against strict COVID-19 policies, although gains in Amazon helped limit losses as Cyber Monday sales were set for a record. The S&P 500 energy index .SPNY fell 2.5% and led declines among main sectors, as oil prices dropped close to their lowest this year after news of China protests.
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The biggest drag on the benchmark S&P 500 .SPX index, however, were Apple Inc AAPL.O shares, whichfell 1.5% after a reportthat the company would see a further shortfall in production due to unrest at the world's biggest iPhone factory in China. By Ankika Biswas and Shreyashi Sanyal Nov 28 (Reuters) - Wall Street's main indexes fell on Monday amid worries about protests in major Chinese cities against strict COVID-19 policies, although gains in Amazon helped limit losses as Cyber Monday sales were set for a record. Shares of the e-commerce giant AMZN.Orose 2% following an industry report that spending on Cyber Monday, the biggest U.S. online shopping day, might go as high as $11.6 billion, encouraged by some of the biggest discounts and deals to attract inflation-wary consumers.
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The biggest drag on the benchmark S&P 500 .SPX index, however, were Apple Inc AAPL.O shares, whichfell 1.5% after a reportthat the company would see a further shortfall in production due to unrest at the world's biggest iPhone factory in China. By Ankika Biswas and Shreyashi Sanyal Nov 28 (Reuters) - Wall Street's main indexes fell on Monday amid worries about protests in major Chinese cities against strict COVID-19 policies, although gains in Amazon helped limit losses as Cyber Monday sales were set for a record. Shares of the e-commerce giant AMZN.Orose 2% following an industry report that spending on Cyber Monday, the biggest U.S. online shopping day, might go as high as $11.6 billion, encouraged by some of the biggest discounts and deals to attract inflation-wary consumers.
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2022-11-26 00:00:00 UTC
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Motley Fool Investors Look Back at 2022 and Forward to 2023
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https://www.nasdaq.com/articles/motley-fool-investors-look-back-at-2022-and-forward-to-2023
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In this podcast, The Motley Fool's Bill Mann, Emily Flippen, and David Gardner talk about topics including:
2022 through the lens of a small business.
The importance of evaluating the management team of a small-cap company.
How fear can be contagious for investors.
Keeping an eye on inflation as we head into 2023.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
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This video was recorded on Nov. 19, 2022.
Bill Mann: You start looking for companies at that level, that if the CEO stepped down, the company is going to be OK. You saw that 100 percent with Apple.
Chris Hill: I'm Chris Hill and that's Motley Fool Senior Analyst, Bill Mann. We talked in front of a live audience at a Motley Fool event we had at the Hawk and Griffin pub in Vienna, Virginia. This was an event we had for Motley Fool members and we want it to bring you part of the conversations that we had onstage. I talked with Bill, fellow analysts, Emily Flippen and company co-Founder David Gardner about what they've learned as investors this year, and what they're watching as we look ahead to 2023.
Chris Hill: One of the things that I think we both love about working at The Motley Fool.
Bill Mann: Have we started recording by the way?
Chris Hill: As far as you know. I think one of the things we both love is the ongoing focus of learning that happens at the company and it really has been instilled from the very beginning with Tom and David Gardner. I'm reminded of a phrase that I first heard it from Tom Gardner. I don't know if he came up with it, but it's the whole idea that when we don't get what we want, we get experience. With that in mind, when you think about investing in 2022 as a lifelong learner, hat has this year taught you?
Bill Mann: I have to thank you because for the last four days, I've had the song Islands in the Stream rolling through my head over and over.
Chris Hill: Goodness, why?
Bill Mann: I don't know. But now I'm going to have Are You Experienced by Jimmy Hendrix rolling around in my brain. Thank you for getting me to the next step. We know in, as people who are students of the market, we know that there are downtimes, but like a lot of things, you do not get the chance to feel deeply that pain and that fear when times are good. We knew going through 2020 that we were going through something that was, at best remarkable. You could pull letters out of a scrabble bag and arrange them and buy that stock and it doubled, which is I don't know if you guys know this, that's not how that works.
We knew that there was a reckoning coming, but the type of reckoning that we've had in 2022 reminds you just how psychological the market can be, and it is really important to keep in mind and to be, there's such a reminder that you are not as smart as the market says, you are at any moment and you're not as dumb as the market says you are at any moment. Let me tell you something, right now the market tells me that I am stupid. We know this anyway, but the market is reaffirming it. We really need to have a sense of grace with ourselves during times like these, because it is what gets you through to the good news that comes and you're as David Gardner said so many times, the market goes down faster than it goes up, but it goes up more than it goes down.
Chris Hill: One of the reasons I benefit from our friendship, I don't know if you benefit from our friendship, but I do.
Bill Mann: You're all right.
Chris Hill: Because every once in a while, you will pull me out of what is happening in the US markets and point to something else around the world. You are very much in Global Investor. I'm curious in terms of this year, from a business standpoint, from an investing standpoint outside of the United States. What has surprised you?
Bill Mann: Can you all believe that in the stock market in 2022, we here in the united states have had it good. We've had it good. If you can imagine, one of the things that makes the united states special, there's a big list, but one of the things on the list is the fact that we have the reserve currency of the world, which means that the debt that we have, we know how much it's going to cost. In countries all around the world, they have debt that is denominated ultimately against the reserve currency in dollars, and so you have seen situations in countries around the world where the dollar has spiked against these currencies, which seems bad anyway, but when they have to pay their debt in US dollars, it makes it very painful.
One of the things that we've seen is something you never want to see is a negative correlation from country to country. We are in a global economy, mean may be less global than it has been. China seems to be pulling away. Russia, we seem to be done with them for a little while with them. I think one of the things that we're going to see in the next decade is the United States and the friendly markets to the United States really do well, and again, if it feels like it's been bad for us, it's been bad for these markets times two.
Chris Hill: There's no experience like doing something yourself. So even though you have studied businesses for decades recently, you've gotten the experience of being part owner of a small business like this. What do you know about small business and the challenges and opportunities of a small business? What do you know now that you didn't know, say a year or two ago?
Bill Mann: This is going to sound like I'm bragging on myself, but I'm not, I'm bragging on the man behind the bar, Tom Kylo, and especially with smaller companies, you need to know who you're betting on. Absolutely positively. He has built most of this place by hand. This was his passion project during COVID and passion projects don't always work out, but you've got someone who has a good business sense, who has the ability to go through the times that are hard. Running a small business in 2022 is incredibly challenging.
I don't know if you all have heard about this inflation thing, but it hits businesses as well. In some ways, with this type of business, with a razor thin margins, getting it right really matters, and so I take from this lesson when I, because my area primarily at The Motley Fool is in small caps and then internationally, and it just really confirms to me that knowing the management and getting a sense of what they are about and whether they are aligned with you is really important.
Chris Hill: Does it become, I don't want to say, less important as the company becomes larger. But does the, almost the burden of how good is this management, does it shift away to how good are they at picking their team?
Bill Mann: Yeah, I think so, and for me, that's been one of my longtime fears about Tesla for example is that they go through management, the layer below Elon Musk. Like they're going out of style and you'd get CFOs in packs of six. Because there's that much turnover. But I think one of the more important things with larger companies is not so much the manager themselves, although that can be very, very important. It's that next layer, you start looking for companies at that level, that if the CEO stepped down, the company is going to be OK. You saw that 100 percent with Apple when Steve Jobs had to step aside, 90 percent of the value of Apple has been created under Tim Cook, not under Steve Jobs. I mean, that's a remarkable way to think about what has happened with that company because you still think of it as being Steve Jobs' company, but it's not.
Chris Hill: I'd love to talk more, but you got to get buying.
Bill Mann: Thank you all so much.
Chris Hill: Man.
Bill Mann: Fool on everybody.
Chris Hill: All right, with that, it is very much my pleasure to bring up one of the true Rising Stars in the analyst community at the Motley Fool, Emily Flippen.
Emily Flippen: What an introduction? The bar is high now.
Chris Hill: Let me start with the same question that I asked, Bill. What's your investing takeaway for 2022?
Emily Flippen: Yeah, it's a hard question to answer because 2022 has been such an unusual year. But I think if I had one takeaway, it's just that fear is really contagious. For context for that, I'm 28 years old. I started investing after the Great Recession, the great financial crisis. So 2022 and honestly part of 2021 as well has been really the first time that I've seen just I guess what the fear looks like and how it manifests and how investors respond to their portfolios, decreasing day after day and 2022 has just been an incredible year to see that reaction and some spaces. Places where investors congregates, whether it'd be at the Fool or on places like Twitter.
You would think the world is ending. People are saying this time is different. They've never experienced a time like this. But at the Fool, talking to you, talking to our analysts, day after day, we just don't have the time [laughs] to get afraid. You're too busy reminding everybody that it's going to be OK that you start to believe at yourself. I'm interested to see what 2023 has in store if it's for another year. I have no doubt that will come out of it on the other side the same way we entered 2022. But I would just encourage everybody to provide some context to what they're experiencing today because 2022, as unusual as it's been, it's not unheard of, it's not unprecedented, no market pullback as well.
Chris Hill: That's part of what makes investing tricky. It's not just analyzing the numbers of a business and is this industry growing and is this business within this industry growing? A lot of it does come down to, well, what is the story of this business industry? To the point you just made, what is the story of this market? Because when the narrative every day is the sky is falling. As an individual investor, that's hard to overcome.
Emily Flippen: Yeah, I will say this. I think about the macro-environment approximately zero percent of my time. I don't like to spend my time thinking about inflation mostly because it really hurts my pocketbook. I don't want to go into the grocery store and seeing my bills up 50 percent. But really it doesn't have an impact on the long-term thesis for the vast majority of businesses that we're invested in. I focus on what I can control, I focus on the business performance, understanding how the company is doing, yes, in today's environment, but more importantly in the environment five years from now. It's the same way when you think about investing during political turmoil. We just came out of a midterm election here in the United States. We're not investing for any single market environment the same way we're not investing for any certain political regime. We're investing in companies that 10 years from now should hopefully be in a better position we are today. That depends on a lot more factors, and then just what's happening in this exact moment.
Chris Hill: Let's get to one company specifically. This week, our company is having its annual meeting. A part of that is not just presentations from our company's leadership to our entire company. It's also we get the chance to hear from leaders of other companies. You've actually recorded an interview that we're going to be seeing this week with Summit saying who is the CEO of Chewy? A company, I first heard about from you. Without giving too much away, what was your impression of him as a shareholder? How are you feeling about the business of Chewy? Like a lot of businesses, it's had a tough year.
Emily Flippen: Well, let me say I'm not a tough audience, I'm a fan girl if this company of any shareholder, basically since the company went public. But more importantly, I'm not married, I don't have kids, but I do have a cat. I do treat that cat like my family. Chewy is an integral part of my everyday life. Having the opportunity to sit down, assume it has been absolutely amazing. I will say, obviously everybody's out here selling your companies, I want to believe in the company that I'm invested in it. But I was really impressed with the mentalities that he's brought to the company. He is not the founder, but he has been the CEO. He brought it through the IPO and he brings a really great logistical mine to the business. He understands fulfillment and infrastructure better than anyone I've talked to you before, which is so vital for the position that Chewy is in today.
But more importantly, I think he just has the right culture mindset. It's a really hard thing to have, I think, when you're not the founder of a business. At the Motley Fool here where you have two co-founders that have helped to create a culture that is really unique and we all benefit from that today. But Chewy, going through that transition from their founder to an outside CEO being essentially brought into the organization, it's hard to retain it. But they have created something that is really pet parent first, if I can steal some of their language here, and really focuses on building an internal culture that creates a sense of loyalty among their customers. That's the reason why they have really high net promoter scores with the people that they engage with, have a really high level of repeat orders and customer loyalty. They have an understanding about what pet parents like myself and my tiny cat needs better than Amazon or Petco.
Chris Hill: I'm glad you mentioned Amazon because as someone who doesn't own pets, but my memory is that during the pandemic, one of the early stumbles for Amazon was with pet owners. Am I correct that Chewy benefited from the misstep of a competitor there?
Emily Flippen: Here's my thing. I don't like to say that Chewy won because of the pandemic and this grinds my gears a little bit, Chris. Because when I ever talked to me about with Chewy, they're like, oh well, that's a pandemic play. I was a shareholder to you before the pandemic, I'll be a shareholder of Chewy now and continues in the future, I expect. But the business was set up for success because they understood their customer better than Amazon, to the world. I don't think it's necessarily that the pandemic happened and Amazon misstepped. Not understanding the needs of pet parents, not doing super well with their private-label pet goods. That was the reason why Chewy did well. Chewy has been executing on the same thesis that they had a year before the pandemic and a year after the pandemic, it was just a matter of I guess everybody got a bit more pets.
Chris Hill: I was just going to say, I wasn't suggesting like now that's the only reason they're doing well because it didn't make sense to me that people will be like, well, I'm just going to try this for a year, and then when the pandemic's over.
Emily Flippen: I clearly heard it too much. You hit a sore spot.
Chris Hill: Clearly, I did. What is something you're going to be watching in 2023? Let's move away from Chewy. But just in terms of industries trends, what's on your radar as we come to the end of this year and look forward to hopefully a better one for investors.
Emily Flippen: Well, obviously I want to say Chewy. I'll be watching Chewy along with all of my investments in 2023. But there really isn't anything I expect. I like to not enter my years with expectations about what may happen. But I do like to say that I outlined things that I'll be be watching. Obviously, inflation is a big one heading into 2023, how that handles it. There's been some people who are calling last week, I guess the bottom point of the markets. I don't know if I necessarily agree with that, but it is interesting to think about if 2023 will continue this few day uptick that we've seen. But ultimately, yeah, I'm positioning my portfolio to perform much better in 2024, 2025, 2026, not just 2023.
Chris Hill: Thanks for being here.
Emily Flippen: Thanks for having me.
Chris Hill: Emily Flippen. Please welcome David Gardner.
David Gardner: Thank you.
Chris Hill: Let me start with a way that I think you've been spending part of your year with 2022 being the theme here. You've been spending time with the Motley Fool Foundation. I'm curious the conversations you've been having with people in the foundation, networking in the greater DC area. What impression are you getting from folks in terms of how they are viewing the market, the economy? This would seem on the surface to be a difficult time for non-profit foundations, and I'm curious, what's been your experience as you talk to folks in this community?
David Gardner: First of all, just to get investing out of the way, I'm about half of what I was a year ago, just straight up. Whether or not I'm picking stocks anymore on a regular basis for the Fool, doesn't matter, I remain fully invested just like I hope everybody else generally is or should be. Just to be really clear on that, I had the pleasure at our first face-to-face member gathering Fool face in three years, a couple of months ago to say. Maybe some of you heard me say this, I'll say it again. Whoever's down, however much you're down, I'm down more. I have neither bought nor sold a stock since before COVID, so I just pretty much stay fully invested all the time, and therefore I ride it all the way down, and usually down more than most other people in any given room, and then right back up and that works. That really does work.
Thank you for the question about the foundation. I think Chris, what I have really appreciated about where we are. In the early stages, this is an icon, this is a scrappy start-up. This is what the Motley Fool was in 1993, it's a print newsletter, were just a few months into the foundation. Thank you for those of you who've already leaned-in, contributed your Fool fuel as we like to use the phrase because we really are counting on our membership to fuel our foundation. We have some resources and we're fully dedicated. Some of our most mediocre minds are focused on our foundation, but we really are counting on our Fools everywhere. I think that what I've concluded about the world, after a lot of conversations the last 12 months, is that we need to continue to democratize money for everybody.
We have done that pretty well in our own small way, in our own Fool way over the last 30 years for the markets, and some of you were already investing before Chris and I were born, and you're here tonight, and for thanks for joining us, and your amazing exemplars to your families and to all the rest of us here. Many others may have gotten started in the last three years because of the Motley Fool, and a lot of people are hearing our podcasts, we have a larger audience than ever before today, so that means a lot of people have just joined in and learned about the market's during the Fool. Chris, we're here to get everybody carrying about the markets.
But in fact, before you can care about the markets, you need to care about saving, about being invested, about recognizing the importance of not just financial literacy, teaching stock market to kids, let's say, but of having a roof over your head, having your health, because financial freedom doesn't mean a lot if you don't have your health and what health means. A lot of these things are systemic and that's really where we've been. In my longest answer, I'll give to every question, that's really where we've been leaning in.
Chris Hill: I want to go back to something Emily talked about, because I was struck by this. Emily talking about fear as being an emotion, that she experienced en-mass for the first time as a younger investor. She didn't put it this way, but I will. We're older, we've been investing for decades beyond that, so maybe we don't have the same level of fear or certainly are not surprised by it. I'm curious, how you've done that over the years to the extent that you've managed your emotions? Because I think that's part of what Emily was getting at. In some cases we've seen this for years. At the Motley Fool, we've seen fear drive people out of the market all together. They're investing for a year or two, they hit a bear market and then they said that's it, I'm out. I'm curious, how you've managed your emotions, but also to the extent that you've counseled people to get through and stay in the game.
David Gardner: I think that fear needs to be replaced by knowledge. They're almost opposites. Fear and understanding, fear and knowledge. When Emily said she was 28, which is so awesome. Emily, thank you for contributing so much in your earlier as the Fool and I look forward to on association. Thank you. I'm 56, so I'm like, I'm 2x. I'm glad we had this moment, I'm like, "Okay, I'm exactly twice as old as Emily." But I think that for a lot of us, it is about making sure you understand, you have context, and some of that has to be earned in the market, in real downturns. Emily spoke really well to that. But I truly believe that the people who shy, or people who don't have the context of understanding that the stock market has traditionally returned 9-10 percent annualized over the last century, and that includes every horrific bear market that you can think of.
Some of which you can even make up in your head, it's all happened in the last century, and you still got that amazing return. But you only got that return if you stayed invested. For me, with a never sell mentality, my brother practices the same thing. I think a lot of us, I hope appreciate that. Not everybody does, some people like to trade jump in, jump out. It's just not my orientation, but I think you make a lifetime commitment to the stock market, to investing. You learn as you go, and I think that you feel less fear. I do, because you know more, I do know more. Yet it still is a bummer and I still get to say to all of you, I'm down half over the last year. That never feels good. I felt it before, and if I keep my cholesterol a little bit lower, this will happen several more times in my lifetime. This is not the last really bad market. I hope everyone is prepared for the next one. Doesn't mean batten the hatches now, doesn't mean try to guess when it's going to show up, just realize it's going to happen. Losing to win is like a critical theme for me in life, but investing too.
Chris Hill: I'm not going to ask you to make a prediction for the market for 2023 because I've known you too long.
David Gardner: I actually have the URL, predictionclub.com.
Chris Hill: Why?
David Gardner: I own it. Because I intend to make use of it at some point, so we can say predictions, I think we need to be doing more of that in this world. There needs to be more prognostication or at least more accountability for those who are constantly prognosticating, which is probably not what I'm about to do.
Chris Hill: What happens if someone goes to prognostication club.com right now, what can I get?
David Gardner: Go for it? If you make any investment, you'll be well past me, all already be in your rearview mirror. I'm a member of a longtime book club that I love, I think that there should be prediction clubs. I think that we should be convening once a quarter or a month and make predictions with each other, and then we should go back a month later, a quarter later, get back together. It's not just that Harry made this prediction and Sally made this prediction, it's that you and I, as members of the club, need to agree or disagree with Harry and or Sally, and be accountable and score it. I think we'll get smarter about the future and the big wisdom of the crowds fan. Why are we talking about predictions?
Chris Hill: I was just going to say this becomes a lot more compelling to me if I get to bet on either Harry or Sally. Okay?
David Gardner: It might be our business.
Chris Hill: We'll talk business. Now, where I was going to go was somewhere that I'm sure it's going to disappoint at least some of the people listening. I wasn't going to ask for a stock market prediction, but I know you are a believer in the idea that winners win, and we see that in companies that succeed over decades, and we see that in sports programs. How are you feeling about the North Carolina basketball team in 2023.
David Gardner: I feel as if the North Carolina basketball team this year for the few who may care about it in this room, or listening on this podcast, I feel as if this might be the best team that we've ever seen.
Chris Hill: Thanks for being here.
David Gardner: Thank you. Fool on.
Chris Hill: If you're not already listening to David Gardner's weekly podcast, check it out. It's called Rule Breaker Investing with David Gardner. New episodes every Wednesday, find it wherever you get your podcasts. If you're in Northern Virginia and looking for a bite to eat in a friendly setting, find your way over to the Hakim Griffin pub.
As always, people on the program may have interest in the stocks they talk about, and the Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. I'm Chris Hill, thanks for listening. We'll see you tomorrow.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Bill Mann has no position in any of the stocks mentioned. Chris Hill has positions in Amazon, Apple, and Chewy, Inc. David Gardner has positions in Apple and Tesla. Emily Flippen has positions in Chewy, Inc. The Motley Fool has positions in and recommends Amazon, Apple, Chewy, Inc., and Tesla. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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In this podcast, The Motley Fool's Bill Mann, Emily Flippen, and David Gardner talk about topics including: 2022 through the lens of a small business. I talked with Bill, fellow analysts, Emily Flippen and company co-Founder David Gardner about what they've learned as investors this year, and what they're watching as we look ahead to 2023. In some ways, with this type of business, with a razor thin margins, getting it right really matters, and so I take from this lesson when I, because my area primarily at The Motley Fool is in small caps and then internationally, and it just really confirms to me that knowing the management and getting a sense of what they are about and whether they are aligned with you is really important.
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In this podcast, The Motley Fool's Bill Mann, Emily Flippen, and David Gardner talk about topics including: 2022 through the lens of a small business. I talked with Bill, fellow analysts, Emily Flippen and company co-Founder David Gardner about what they've learned as investors this year, and what they're watching as we look ahead to 2023. Chris Hill has positions in Amazon, Apple, and Chewy, Inc. David Gardner has positions in Apple and Tesla.
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Chris Hill: I'm Chris Hill and that's Motley Fool Senior Analyst, Bill Mann. Chris Hill: I was just going to say, I wasn't suggesting like now that's the only reason they're doing well because it didn't make sense to me that people will be like, well, I'm just going to try this for a year, and then when the pandemic's over. Many others may have gotten started in the last three years because of the Motley Fool, and a lot of people are hearing our podcasts, we have a larger audience than ever before today, so that means a lot of people have just joined in and learned about the market's during the Fool.
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Chris Hill: One of the things that I think we both love about working at The Motley Fool. I don't know if you all have heard about this inflation thing, but it hits businesses as well. We're investing in companies that 10 years from now should hopefully be in a better position we are today.
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2022-11-26 00:00:00 UTC
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The Next Major Pillar for Meta Platforms Isn't the Metaverse
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https://www.nasdaq.com/articles/the-next-major-pillar-for-meta-platforms-isnt-the-metaverse
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Meta Platforms (NASDAQ: META) is pouring billions of dollars into developing the metaverse, but CEO Mark Zuckerberg is still building up another major pillar of his business.
Before Meta's virtual reality headsets and metaverse software turn into a substantial source of revenue growth, Zuckerberg thinks there's still a lot of room to grow WhatsApp. The company bought the text app in 2014, back when Meta was still called Facebook, for the equivalent of $21.8 billion in stock. While it's continued to grow its user base, it hasn't managed to generate that much revenue.
That may be changing as Zuckerberg and his company turn to the massive user base as a source of revenue amid a slowdown in its core advertising business.
A progress report
Management provided investors with some interesting details about WhatsApp during the third-quarterearnings calllast month.
North America is now WhatsApp's fastest-growing region, management shared. It's not clear, however, whether that's due to a saturation in other parts of the world or an acceleration in North America. Nonetheless, the disclosure is a signal there's still room for growth in this extremely valuable market, and management intends to go after it.
Another new disclosure was the impact of WhatsApp on click-to-message ads businesses run on Facebook and Instagram. Overall, the annual run rate on those ads reached $9 billion in the third quarter, and click-to-WhatsApp accounted for $1.5 billion of that. What's more, WhatsApp sales grew 80% year over year.
There's strong potential for growth just from the click-to-message ads. North America is a much more valuable market than other regions like Europe or Latin America. Facebook's average revenue per user in the U.S. and Canada last quarter was $49.13 compared to $14.23 in Europe and just $3.21 in the Rest of World region. So, just growing the North American user base should help revenue growth.
Moreover, the ability to directly connect businesses and customers has increased in value following the impact of Apple's iOS privacy update, which negatively impacted ad revenue for most social media companies. That should lead to a shift in businesses focusing on ad products like click-to-message and developing best practices for converting those ads into sales. In turn, it should lead to higher average ad prices for the format and the increased importance of WhatsApp in Meta's advertising ecosystem.
What's next for WhatsApp
Management thinks click-to-message ads are just the start for monetizing its messaging app user base.
"We're really bullish on where paid messaging can go over the next several years," CFO Dave Wehner said on a follow-up call to theearnings calllast month. "Commerce is going to be a component of that; it's not going to be the exclusive component of that."
To that end, Meta expanded a pilot program in Brazil called Business Directory. The feature allows users to browse businesses based on categories like food and drink or travel, or just by searching their name. "The ultimate goal here is to make it so you can find, message, and buy from a business all in the same WhatsApp chat," Zuckerberg said at a WhatsApp-focused business summit in Brazil. The pilot will expand to more countries in the near future.
If the feature proves popular and useful for both consumers and businesses, it may become a major advertising opportunity for Meta. If someone's searching for a salon in their area, for example, it's easy to sell ad space at the top of search results.
In the meantime, Business Directory may serve to improve engagement on the platform and increase the amount of interaction between individuals and businesses. As that type of engagement grows, it may benefit the click-to-message ads on Facebook and Instagram, as consumers will be used to interacting and purchasing from businesses on WhatsApp.
The next big revenue source
Meta generates around $120 billion in revenue per year. WhatsApp has the potential to turn from just a rounding error to a growth driver.
And the growth outlook for Meta is very weak right now. Analysts expect revenue to grow just 5% next year, reaching $122 billion. If WhatsApp's click-to-messaging ad revenue continues to grow at the same rate as last quarter, it'll account for 20% of the estimated revenue growth for the whole business.
It's not inconceivable that WhatsApp becomes a $10 billion-plus business for Meta platforms, and it can get there a lot faster and with a lot less capital invested than Reality Labs.
10 stocks we like better than Meta Platforms, Inc.
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They just revealed what they believe are the ten best stocks for investors to buy right now… and Meta Platforms, Inc. 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 November 7, 2022
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. Adam Levy has positions in Apple and Meta Platforms, Inc. The Motley Fool has positions in and recommends Apple and Meta Platforms, Inc. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Before Meta's virtual reality headsets and metaverse software turn into a substantial source of revenue growth, Zuckerberg thinks there's still a lot of room to grow WhatsApp. That may be changing as Zuckerberg and his company turn to the massive user base as a source of revenue amid a slowdown in its core advertising business. In turn, it should lead to higher average ad prices for the format and the increased importance of WhatsApp in Meta's advertising ecosystem.
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Meta Platforms (NASDAQ: META) is pouring billions of dollars into developing the metaverse, but CEO Mark Zuckerberg is still building up another major pillar of his business. Before Meta's virtual reality headsets and metaverse software turn into a substantial source of revenue growth, Zuckerberg thinks there's still a lot of room to grow WhatsApp. Another new disclosure was the impact of WhatsApp on click-to-message ads businesses run on Facebook and Instagram.
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Meta Platforms (NASDAQ: META) is pouring billions of dollars into developing the metaverse, but CEO Mark Zuckerberg is still building up another major pillar of his business. If WhatsApp's click-to-messaging ad revenue continues to grow at the same rate as last quarter, it'll account for 20% of the estimated revenue growth for the whole business. See the 10 stocks *Stock Advisor returns as of November 7, 2022 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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Another new disclosure was the impact of WhatsApp on click-to-message ads businesses run on Facebook and Instagram. So, just growing the North American user base should help revenue growth. 10 stocks we like better than Meta Platforms, Inc.
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18288.0
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2022-11-25 00:00:00 UTC
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Why Manchester United Stock Was Rocketing Higher Again Today
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AAPL
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https://www.nasdaq.com/articles/why-manchester-united-stock-was-rocketing-higher-again-today
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nan
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nan
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What happened
Shares of Manchester United (NYSE: MANU) were surging again Friday as talk of possible buyouts of the storied English soccer club fueled further gains in the stock.
As of 12:15 p.m. ET, shares were up 15.3%.
So what
Manchester United shares are now up by around 67% this week as initial rumors about a sale gave way to a confirmation from the company, which said Tuesday it was exploring "strategic alternatives" including a potential sale of the club.
On Friday morning, British tabloid The Daily Star reported that Apple (NASDAQ: AAPL) was among the parties exploring a bid for the soccer team. The Star did not cite a source for that assertion, but said that Apple CEO Tim Cook is planning to talk with the banks that are handling the sale for Man U. The Glazer family, which controls Manchester United, is reportedly seeking a price of around $7 billion, which is nearly double the company's current market cap. The website MacRumors later reported that Apple was not seeking to purchase the club, citing a "source with direct knowledge of the situation."
Separately, Saudi Arabia's sports minister said he would "definitely support" private sector bids for Manchester United and Liverpool, another top English soccer club that's on the auction block.
Now what
A buyout by Apple seems like an odd match, but a buyer is likely to emerge for Manchester United as it's one of the top sports assets in the world. The company claims 1.1 billion fans and followers.
In its 10 years as a publicly traded company, the stock has underperformed, and it is unprofitable on an IFRS basis (the international equivalent of GAAP). However, for the right kind of buyer, these teams are prestige assets, and Man U will likely find some interested buyers, though its selling price remains a question mark.
10 stocks we like better than Manchester United
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Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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On Friday morning, British tabloid The Daily Star reported that Apple (NASDAQ: AAPL) was among the parties exploring a bid for the soccer team. What happened Shares of Manchester United (NYSE: MANU) were surging again Friday as talk of possible buyouts of the storied English soccer club fueled further gains in the stock. Separately, Saudi Arabia's sports minister said he would "definitely support" private sector bids for Manchester United and Liverpool, another top English soccer club that's on the auction block.
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On Friday morning, British tabloid The Daily Star reported that Apple (NASDAQ: AAPL) was among the parties exploring a bid for the soccer team. The Glazer family, which controls Manchester United, is reportedly seeking a price of around $7 billion, which is nearly double the company's current market cap. Separately, Saudi Arabia's sports minister said he would "definitely support" private sector bids for Manchester United and Liverpool, another top English soccer club that's on the auction block.
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On Friday morning, British tabloid The Daily Star reported that Apple (NASDAQ: AAPL) was among the parties exploring a bid for the soccer team. What happened Shares of Manchester United (NYSE: MANU) were surging again Friday as talk of possible buyouts of the storied English soccer club fueled further gains in the stock. 10 stocks we like better than Manchester United When our award-winning analyst team has a stock tip, it can pay to listen.
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On Friday morning, British tabloid The Daily Star reported that Apple (NASDAQ: AAPL) was among the parties exploring a bid for the soccer team. What happened Shares of Manchester United (NYSE: MANU) were surging again Friday as talk of possible buyouts of the storied English soccer club fueled further gains in the stock. Now what A buyout by Apple seems like an odd match, but a buyer is likely to emerge for Manchester United as it's one of the top sports assets in the world.
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18289.0
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2022-11-25 00:00:00 UTC
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4 ETFs That Are the Best Deals on Black Friday Bonanza
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AAPL
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https://www.nasdaq.com/articles/4-etfs-that-are-the-best-deals-on-black-friday-bonanza
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nan
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nan
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The holiday season kicked off on Thanksgiving Day, and now it’s time for Black Friday — one of the busiest shopping days of the year. Retailers are splurging on early promotions and discounts as well as free shipping on online purchases to lure customers.
The attractive offers would boost retail sales and lead to a surge in stock prices in the days to follow. While an individual stock is a great option to tap the Black Friday deals in the investment world, a basket approach through ETFs is diversified and more cost-effective at lower risk. Investors should stock up ETFs like Amplify Online Retail ETF IBUY, SPDR S&P Retail ETF XRT, VanEck Vectors Retail ETF RTH and ProShares Online Retail ETF ONLN this weekend.
According to the National Retail Federation (“NRF”), about 166.3 million Americans are expected to shop either in-store or online during the Thanksgiving weekend (spanning five days from Thanksgiving Day through Cyber Monday), up almost 8 million from last year and the highest since NRF began tracking this data in 2017. Of them, 32.9 million plan to shop on Thanksgiving Day, 114.9 million on Black Friday, 60.4 million on Small Business Saturday, 31.4 million on Sunday and 63.9 million on Cyber Monday.
Black Friday continues to be the most popular day to shop, with 69% planning to shop then, followed by 38% on Cyber Monday. Among the Black Friday shoppers, 67% say they are likely to shop in stores, up from 64% in 2021. About 38% (63.9 million) of all weekend shoppers plan to shop on Cyber Monday (read: ETFs in Focus Post Better Q3 Retail Earnings).
Retailers on a Roll
The Black Friday online sales bonanza is in full swing as a number of retailers had already perked up their deals several weeks before. We have highlighted some of the best deals from:
Amazon AMZN kicked off the 48-hour Black Friday deal on Nov 24 with big discounts on all kinds of products, from smart TVs to furniture, fashion, beauty, and much more. Some of the best deals include 50% off on Fire TV Sticks, up to 68% off on Echo speakers, over 50% off on popular gaming headsets, up to 70% off on the books and up to 20% off on Leesa and Casper mattresses. The online retailer is offering heavy discounts on top brands like Adidas, Savage x Fenty, Apple and Beats by Dre.
Apple AAPL started the Black Friday shopping event on Nov 25 that runs through Nov 28. The company is offering the best prices of the year on the latest 2nd-gen AirPods Pro, Apple Watch Series 8, certain iPads and Mac laptops, Beats headphones, and even the Apple Watch Ultra. Apple AirPods Pro 2 is available at the lowest price ever at $199.99 (normal price $249).
Wal-Mart WMT, the world's largest retailer, kicked off its final Black Friday deals and the third round of its holiday sales event on Nov 21 online and Nov 25 in stores. This includes discounts on consoles, smart TVs, kitchenware, small appliances, toys and everything in between just in time for holiday shopping.
Target TGT started Black Friday sale in stores and online on Nov 20 that will end on Nov 26. The company is offering up to 50% off on new and trending items for gifting and gathering, along with everyday essentials and more. Top deals for Nov 24-26 include 40% off on boots and outerwear for the family, apparel basics starting as low as $3, matching sleepwear pants and tees starting at $7, $60 off on Beats Studio Buds, 20% off on Kinetic Sand and 30% off on jewelry.
Best Buy's BBY official Black Friday sales event started on Nov 20, with deals on smart TVs, laptops, gaming consoles, smart home products, electronic scooters and more leading up to Nov 25.
ETFs to Shop
Below, we have highlighted the ETFs in detail.
Amplify Online Retail ETF (IBUY)
Amplify Online Retail ETF offers global exposure to companies that derive 70% or more revenues from online and virtual retail by tracking the EQM Online Retail Index. IBUY holds 58 stocks in its basket, with none accounting for more than 2.8% of assets. Amplify Online Retail ETF has the largest allocation in marketplace at 45% and traditional retail at 44% (read: Wall Street Stages Largest Jump Since 2020: ETF Winners).
Amplify Online Retail ETF has attracted $190.2 million in its asset base and charges 65 bps in annual fees. IBUY trades in an average daily volume of 33,000 shares.
SPDR S&P Retail ETF (XRT)
SPDR S&P Retail ETF tracks the S&P Retail Select Industry Index, which provides exposure across large, mid and small-cap stocks. It holds well-diversified 97 stocks in its basket, with none making up for more than 1.7% share. SPDR S&P Retail ETF is well spread across various industries with a double-digit allocation each in apparel retail, specialty stores, automotive retail, and Internet & direct marketing retail.
SPDR S&P Retail ETF is the largest and most popular in the retail space, with AUM of $504.6 million and an average trading volume of 4.5 million shares. It charges 35 bps in annual fees and has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
VanEck Vectors Retail ETF (RTH)
VanEck Vectors Retail ETF provides exposure to the 25 largest retail firms by tracking the MVIS US Listed Retail 25 Index, which measures the performance of the companies involved in retail distribution, wholesalers, online, direct mail and TV retailers, multi-line retailers, specialty retailers and food and other staples retailers. VanEck Vectors Retail ETF is highly concentrated on the top firm with double-digit exposure, while the other firms hold no more than 10% share.
VanEck Vectors Retail ETF has amassed $156.3 million in its asset base and charges 35 bps in annual fees. It trades in a lower volume of 12,000 shares a day on average. VanEck Vectors Retail ETF has a Zacks ETF Rank #2 with a Medium risk outlook (read: How to Play Fed's Fourth 75-Bp Rate Hike With ETFs?).
ProShares Online Retail ETF (ONLN)
ProShares Online Retail ETF offers exposure to the company that principally sells online or through other non-store channels, and then zeros in on the companies reshaping the retail space. It tracks the ProShares Online Retail Index, holding 25 stocks in its basket. ONLN is highly concentrated on the top two firms, while the other firms hold no more than 8% of assets. American firms make up 69.6% of the portfolio, while Chinese firms account for 21.2% share.
ProShares Online Retail ETF has accumulated $116.3 million in its asset base and charges 58 bps in annual fees. ONLN trades in an average daily volume of 114,000 shares.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Target Corporation (TGT) : Free Stock Analysis Report
Walmart Inc. (WMT) : Free Stock Analysis Report
Best Buy Co., Inc. (BBY) : Free Stock Analysis Report
SPDR S&P Retail ETF (XRT): ETF Research Reports
VanEck Retail ETF (RTH): ETF Research Reports
Amplify Online Retail ETF (IBUY): ETF Research Reports
ProShares Online Retail ETF (ONLN): 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 started the Black Friday shopping event on Nov 25 that runs through Nov 28. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report Best Buy Co., Inc. (BBY) : Free Stock Analysis Report SPDR S&P Retail ETF (XRT): ETF Research Reports VanEck Retail ETF (RTH): ETF Research Reports Amplify Online Retail ETF (IBUY): ETF Research Reports ProShares Online Retail ETF (ONLN): ETF Research Reports To read this article on Zacks.com click here. While an individual stock is a great option to tap the Black Friday deals in the investment world, a basket approach through ETFs is diversified and more cost-effective at lower risk.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report Best Buy Co., Inc. (BBY) : Free Stock Analysis Report SPDR S&P Retail ETF (XRT): ETF Research Reports VanEck Retail ETF (RTH): ETF Research Reports Amplify Online Retail ETF (IBUY): ETF Research Reports ProShares Online Retail ETF (ONLN): ETF Research Reports To read this article on Zacks.com click here. Apple AAPL started the Black Friday shopping event on Nov 25 that runs through Nov 28. Investors should stock up ETFs like Amplify Online Retail ETF IBUY, SPDR S&P Retail ETF XRT, VanEck Vectors Retail ETF RTH and ProShares Online Retail ETF ONLN this weekend.
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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report Best Buy Co., Inc. (BBY) : Free Stock Analysis Report SPDR S&P Retail ETF (XRT): ETF Research Reports VanEck Retail ETF (RTH): ETF Research Reports Amplify Online Retail ETF (IBUY): ETF Research Reports ProShares Online Retail ETF (ONLN): ETF Research Reports To read this article on Zacks.com click here. Apple AAPL started the Black Friday shopping event on Nov 25 that runs through Nov 28. Investors should stock up ETFs like Amplify Online Retail ETF IBUY, SPDR S&P Retail ETF XRT, VanEck Vectors Retail ETF RTH and ProShares Online Retail ETF ONLN this weekend.
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Apple AAPL started the Black Friday shopping event on Nov 25 that runs through Nov 28. Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report Best Buy Co., Inc. (BBY) : Free Stock Analysis Report SPDR S&P Retail ETF (XRT): ETF Research Reports VanEck Retail ETF (RTH): ETF Research Reports Amplify Online Retail ETF (IBUY): ETF Research Reports ProShares Online Retail ETF (ONLN): ETF Research Reports To read this article on Zacks.com click here. Investors should stock up ETFs like Amplify Online Retail ETF IBUY, SPDR S&P Retail ETF XRT, VanEck Vectors Retail ETF RTH and ProShares Online Retail ETF ONLN this weekend.
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18290.0
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2022-11-25 00:00:00 UTC
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US STOCKS-S&P 500 inches higher as Black Friday sales kick off
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AAPL
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https://www.nasdaq.com/articles/us-stocks-sp-500-inches-higher-as-black-friday-sales-kick-off
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nan
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nan
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By Ankika Biswas
Nov 25 (Reuters) - The benchmark S&P 500 edged higher on Friday, with focus on retailers as Black Friday sales kicked off against the backdrop of stubbornly high inflation and cooling economic growth.
Shoppers were expected to turn out in record numbers to shop for Black Friday deals, but with inclement weather, thin crowds were seen outside stores on what has historically been the busiest shopping day of the year.
U.S. retail stocks have become a barometer of consumer confidence as inflation bites. The S&P 500 retail index .SPXRT slipped 0.1% on Friday, bringing its year-to-date losses to a little over 30%, while the S&P 500 is down 15% so far this year.
"We're going have a higher-than-expected Black Friday sales number. The reason why I think so is the strength of U.S. consumers is still being far too discounted with full employment and large cash savings," said Phil Blancato, chief executive of Ladenburg Thalmann Asset Management in New York.
Shares of retailers Target Corp TGT.N, Macy's Inc M.N and Best Buy Co Inc BBY.N were mixed, while the S&P consumer discretionary index .SPLRCD rose 0.3%.
Wall street's main indexes have rallied strongly since hitting their early October lows, with the S&P 500 .SPX up more than 15% on a boost from a better-than-expected earnings season and more recently on hopes of less aggressive interest rates hikes by the U.S. Federal Reserve.
Expectations are now of a 63.5% chance that the Fed will increase its key benchmark rate by 50 basis points in December, with the rates seen peaking in June 2023. FEDWATCH
At 10:10 a.m. ET, the Dow Jones Industrial Average .DJI was up 152.42 points, or 0.45%, at 34,346.48, with shares of UnitedHealth Group Inc UNH.N and Home Depot Inc HD.N providing the biggest boost.
The S&P 500 .SPX rose 3.41 points, or 0.08%, at 4,030.67, while the Nasdaq Composite .IXIC slipped 36.70 points, or 0.33%, at 11,248.61.
Weighing on Nasdaq, Activision Blizzard Inc ATVI.O fell 4.2% on a media report that the U.S. Federal Trade Commission was likely to file an antitrust lawsuit to block Microsoft Corp's MSFT.O $69-billion takeover bid for the video game publisher.
Apple Inc AAPL.O slipped 1.6% after news of reduced iPhone shipments in November from a Foxconn plant in China.
U.S. stock markets will close at 1 p.m. ET on Friday, after being closed on Thursday for Thanksgiving.
Advancing issues outnumbered decliners for a 1.84-to-1 ratio on the NYSE and a 1.32-to-1 ratio on the Nasdaq.
The S&P index recorded 16 new 52-week highs and no new low, while the Nasdaq recorded 39 new highs and 42 new lows.
(Reporting by Ankika Biswas and Shubham Batra in Bengaluru; Editing by Shounak Dasgupta)
((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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Apple Inc AAPL.O slipped 1.6% after news of reduced iPhone shipments in November from a Foxconn plant in China. The reason why I think so is the strength of U.S. consumers is still being far too discounted with full employment and large cash savings," said Phil Blancato, chief executive of Ladenburg Thalmann Asset Management in New York. Wall street's main indexes have rallied strongly since hitting their early October lows, with the S&P 500 .SPX up more than 15% on a boost from a better-than-expected earnings season and more recently on hopes of less aggressive interest rates hikes by the U.S. Federal Reserve.
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Apple Inc AAPL.O slipped 1.6% after news of reduced iPhone shipments in November from a Foxconn plant in China. Shoppers were expected to turn out in record numbers to shop for Black Friday deals, but with inclement weather, thin crowds were seen outside stores on what has historically been the busiest shopping day of the year. "We're going have a higher-than-expected Black Friday sales number.
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Apple Inc AAPL.O slipped 1.6% after news of reduced iPhone shipments in November from a Foxconn plant in China. By Ankika Biswas Nov 25 (Reuters) - The benchmark S&P 500 edged higher on Friday, with focus on retailers as Black Friday sales kicked off against the backdrop of stubbornly high inflation and cooling economic growth. Shoppers were expected to turn out in record numbers to shop for Black Friday deals, but with inclement weather, thin crowds were seen outside stores on what has historically been the busiest shopping day of the year.
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Apple Inc AAPL.O slipped 1.6% after news of reduced iPhone shipments in November from a Foxconn plant in China. By Ankika Biswas Nov 25 (Reuters) - The benchmark S&P 500 edged higher on Friday, with focus on retailers as Black Friday sales kicked off against the backdrop of stubbornly high inflation and cooling economic growth. The S&P 500 .SPX rose 3.41 points, or 0.08%, at 4,030.67, while the Nasdaq Composite .IXIC slipped 36.70 points, or 0.33%, at 11,248.61.
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18291.0
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2022-11-25 00:00:00 UTC
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GLOBAL MARKETS-Nasdaq falls while the dollar, bond yields gain
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AAPL
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https://www.nasdaq.com/articles/global-markets-nasdaq-falls-while-the-dollar-bond-yields-gain
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nan
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nan
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By Sinéad Carew and Alun John
NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq was lower on Friday with pressure from Apple Inc AAPL.O while the dollar gained and U.S. Treasury yields rose as investors shied away from riskier bets.
The mood was jittery as the gift-buying season kicked off on a scheduled half-day for U.S. markets after the Thanksgiving holiday, with investors watching out for signs of weakness in consumer spending with inflation still soaring.
While shoppers often turn out in record numbers with hopes of Black Friday discounts, so far, crowds were thin outside stores on what is historically the busiest shopping day.
"It's a very competitive environment for retail, both price cutting and who's best positioned for inventory will play a big part in how you do over the season," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.
"Margins will be squeezed and profits will be lower ... bigger question will be company forecasts for next year and whether investors think this is a reciprocal bottom or start of a new trend and reduced spending."
Adding to inflation concerns, market heavyweight Apple's shares were weighed down by concerns about Foxconn 2317.TW. The manufacturer's flagship iPhone plant in China was expected to show a November shipment slowdown as thousands of employees left in the latest bout of worker unrest, Reuters reported, citing an unnamed a source with direct knowledge of the matter.
The Dow Jones Industrial Average .DJI rose 162.09 points, or 0.47%, to 34,356.15, the S&P 500 .SPX gained 3.96 points, or 0.10%, to 4,031.22 and the Nasdaq Composite .IXIC dropped 38.45 points, or 0.34%, to 11,246.87.
MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.10%.
Europe's STOXX 600 STOXX was down 0.23% on Friday but heading for a 1.5% weekly gain, which would be its sixth weekly percentage gain in succession, and the first such streak since late 2021.
The U.S. dollarcrept higher across the board in what looked like a quiet session but it remained near multi-month lows as the prospect of the Federal Reserve moderating the pace of its policy tightening weighed on the U.S. currency.
"Today has all the indicators of another session dominated by USD consolidation in lieu of any major cross-asset drivers," said Simon Harvey, senior FX analyst at Monex Europe adding that "liquidity is quite limited."
The dollar index =USD rose 0.189%, with the euro EUR= down 0.09% to $1.0399.
The Japanese yen weakened 0.46% versus the greenback at 139.25 per dollar, while sterling GBP= was last trading at $1.2085, down 0.21% on the day.
The U.S. Federal Reserve has raised interest rates aggressively throughout this year, but a "substantial majority" of Fed policymakers agreed it would "likely soon be appropriate" to slow the pace of interest rate rises, minutes of their latest meeting showed on Wednesday.
This added to optimism from earlier this month when data U.S. October inflation was cooler than expected.
U.S. Treasury yields inched higher on Friday, offseting some of Wednesday's declines when the Fed's November meeting minutes were released.
Benchmark 10-year notes US10YT=RR were up 2.4 basis points to 3.733%, from 3.709% late on Wednesday.
The 30-year bond US30YT=RR was last up 3.2 basis points to yield 3.7741%, from 3.742%.
CHINA'S COVID-19 CONCERNS
Earlier Asian shares had struggled after China reported another record rise in daily COVID infections, with cities nationwide imposing localised lockdowns, mass testing and other curbs, dashing recent hopes it would end zero-COVID policies.
Hong Kong's Hang Seng .HSI had closed down 0.5%, led by a 2.3% tumble for technology .HSTECH, though Chinese onshore bluechips .CSI300 rose 0.5%, buoyed by more government measures to support the slumping real estate market.
Oil prices were stable on Friday in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil.
U.S. crude CLc1 rose 0.4% to $78.25 per barrel and Brent LCOc1 was at $85.42, up 0.09% on the day.
Gold prices retreated after the precious metal posted gains in the previous three sessions on expectations the U.S. Federal Reserve would scale back its rate-hiking stance.
Spot gold XAU= dropped 0.3% to $1,749.68 an ounce. U.S. gold futures GCc1 gained 0.25% to $1,749.20 an ounce. GOL/
World FX rates YTDhttp://tmsnrt.rs/2egbfVh
Global asset performancehttp://tmsnrt.rs/2yaDPgn
Asian stock marketshttps://tmsnrt.rs/2zpUAr4
(Reporting by Sinéad Carew and Saqib Iqbal Ahmed in New York, Ankika Biswas and Shubham Batra in Bengaluru, Alun John in London, and Kevin Buckland in Tokyo; Editing by Christina Fincher, Kirsten Donovan and Deepa Babington)
((sinead.carew@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 Sinéad Carew and Alun John NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq was lower on Friday with pressure from Apple Inc AAPL.O while the dollar gained and U.S. Treasury yields rose as investors shied away from riskier bets. The manufacturer's flagship iPhone plant in China was expected to show a November shipment slowdown as thousands of employees left in the latest bout of worker unrest, Reuters reported, citing an unnamed a source with direct knowledge of the matter. Earlier Asian shares had struggled after China reported another record rise in daily COVID infections, with cities nationwide imposing localised lockdowns, mass testing and other curbs, dashing recent hopes it would end zero-COVID policies.
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By Sinéad Carew and Alun John NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq was lower on Friday with pressure from Apple Inc AAPL.O while the dollar gained and U.S. Treasury yields rose as investors shied away from riskier bets. Adding to inflation concerns, market heavyweight Apple's shares were weighed down by concerns about Foxconn 2317.TW. The U.S. Federal Reserve has raised interest rates aggressively throughout this year, but a "substantial majority" of Fed policymakers agreed it would "likely soon be appropriate" to slow the pace of interest rate rises, minutes of their latest meeting showed on Wednesday.
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By Sinéad Carew and Alun John NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq was lower on Friday with pressure from Apple Inc AAPL.O while the dollar gained and U.S. Treasury yields rose as investors shied away from riskier bets. The Dow Jones Industrial Average .DJI rose 162.09 points, or 0.47%, to 34,356.15, the S&P 500 .SPX gained 3.96 points, or 0.10%, to 4,031.22 and the Nasdaq Composite .IXIC dropped 38.45 points, or 0.34%, to 11,246.87. GOL/ World FX rates YTDhttp://tmsnrt.rs/2egbfVh Global asset performancehttp://tmsnrt.rs/2yaDPgn Asian stock marketshttps://tmsnrt.rs/2zpUAr4 (Reporting by Sinéad Carew and Saqib Iqbal Ahmed in New York, Ankika Biswas and Shubham Batra in Bengaluru, Alun John in London, and Kevin Buckland in Tokyo; Editing by Christina Fincher, Kirsten Donovan and Deepa Babington) ((sinead.carew@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 Sinéad Carew and Alun John NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq was lower on Friday with pressure from Apple Inc AAPL.O while the dollar gained and U.S. Treasury yields rose as investors shied away from riskier bets. The dollar index =USD rose 0.189%, with the euro EUR= down 0.09% to $1.0399. U.S. Treasury yields inched higher on Friday, offseting some of Wednesday's declines when the Fed's November meeting minutes were released.
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18292.0
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2022-11-25 00:00:00 UTC
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After Hours Most Active for Nov 25, 2022 : WE, AMZN, ISTB, KO, AAPL, CZR, CSX, TQQQ, VICI, BMY, ATUS, DELL
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-nov-25-2022-%3A-we-amzn-istb-ko-aapl-czr-csx-tqqq-vici-bmy-atus
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nan
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nan
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The NASDAQ 100 After Hours Indicator is down -1.66 to 11,754.37. The total After hours volume is currently 38,187,256 shares traded.
The following are the most active stocks for the after hours session:
WeWork Inc. (WE) is -0.0101 at $2.84, with 7,975,352 shares traded. As reported by Zacks, the current mean recommendation for WE is in the "buy range".
Amazon.com, Inc. (AMZN) is +0.17 at $93.58, with 1,604,002 shares traded. As reported by Zacks, the current mean recommendation for AMZN is in the "buy range".
iShares Core 1-5 Year USD Bond ETF (ISTB) is unchanged at $46.50, with 1,300,008 shares traded. This represents a 2.06% increase from its 52 Week Low.
Coca-Cola Company (The) (KO) is unchanged at $62.69, with 1,281,439 shares traded. As reported by Zacks, the current mean recommendation for KO is in the "buy range".
Apple Inc. (AAPL) is +0.01 at $148.12, with 1,279,584 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2023. The consensus EPS forecast is $1.5. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Caesars Entertainment, Inc. (CZR) is -0.0099 at $49.67, with 1,266,043 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2022. The consensus EPS forecast is $0.13. As reported by Zacks, the current mean recommendation for CZR is in the "buy range".
CSX Corporation (CSX) is +0.24 at $32.26, with 1,246,871 shares traded. CSX's current last sale is 97.76% of the target price of $33.
ProShares UltraPro QQQ (TQQQ) is -0.01 at $22.25, with 1,065,244 shares traded. This represents a 36.34% increase from its 52 Week Low.
VICI Properties Inc. (VICI) is unchanged at $33.36, with 939,950 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2023. The consensus EPS forecast is $0.52. As reported by Zacks, the current mean recommendation for VICI is in the "buy range".
Bristol-Myers Squibb Company (BMY) is unchanged at $79.24, with 882,704 shares traded. BMY's current last sale is 99.05% of the target price of $80.
Altice USA, Inc. (ATUS) is +0.0501 at $4.70, with 762,090 shares traded. ATUS's current last sale is 47% of the target price of $10.
Dell Technologies Inc. (DELL) is unchanged at $44.63, with 661,691 shares traded. As reported by Zacks, the current mean recommendation for DELL 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 +0.01 at $148.12, with 1,279,584 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". iShares Core 1-5 Year USD Bond ETF (ISTB) is unchanged at $46.50, with 1,300,008 shares traded.
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Apple Inc. (AAPL) is +0.01 at $148.12, with 1,279,584 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2023.
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Apple Inc. (AAPL) is +0.01 at $148.12, with 1,279,584 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2023.
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Apple Inc. (AAPL) is +0.01 at $148.12, with 1,279,584 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Amazon.com, Inc. (AMZN) is +0.17 at $93.58, with 1,604,002 shares traded.
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18293.0
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2022-11-25 00:00:00 UTC
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Why Apple Shares Dropped Friday
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AAPL
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https://www.nasdaq.com/articles/why-apple-shares-dropped-friday
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nan
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nan
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What happened
Black Friday can be an important day for consumer products companies like Apple (NASDAQ: AAPL), but investors aren't feeling good about its stock today. Apple shares were down 2% as of 12:45 p.m. ET on this holiday-shortened trading day.
So what
Investors are likely down on the stock because of a situation that's somewhat out of Apple's control. COVID-19 cases in China have soared to levels that are causing the government to institute a new wave of lockdowns. And one city that is being affected the most is Zhengzhou, which is home to the largest iPhone assembly plant in the world. That has investors worried more about supply than demand for Apple's products during the important holiday season.
Image source: Getty Images.
Now what
Earlier this month Apple warned investors that iPhone 14 Pro and iPhone 14 Pro Max assembly would be impacted due to COVID-19 restrictions at the Zhengzhou facility, which is the primary producer of those high-end models. When Apple provided investors with that update in the first week of November, it said the plant was operating at a "significantly reduced capacity."
With cases now surging to even higher levels, and new restrictions being implemented as a result, it's fair to assume that the supply situation will be getting worse before it gets better for Apple. The good news for Apple shareholders is that the company said it was still experiencing strong demand for its iPhone 14 models.
How much shipments will be affected by the latest lockdowns remains to be seen. Another impact from lower shipments will be increasing wait times for potential customers. Eventually those sales may be lost, rather than just delayed. Investors will be looking toward Apple's next quarterly update to see how the situation has evolved. For now, some are deciding to sell their shares ahead of that.
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Howard Smith has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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What happened Black Friday can be an important day for consumer products companies like Apple (NASDAQ: AAPL), but investors aren't feeling good about its stock today. When Apple provided investors with that update in the first week of November, it said the plant was operating at a "significantly reduced capacity." With cases now surging to even higher levels, and new restrictions being implemented as a result, it's fair to assume that the supply situation will be getting worse before it gets better for Apple.
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What happened Black Friday can be an important day for consumer products companies like Apple (NASDAQ: AAPL), but investors aren't feeling good about its stock today. Now what Earlier this month Apple warned investors that iPhone 14 Pro and iPhone 14 Pro Max assembly would be impacted due to COVID-19 restrictions at the Zhengzhou facility, which is the primary producer of those high-end models. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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What happened Black Friday can be an important day for consumer products companies like Apple (NASDAQ: AAPL), but investors aren't feeling good about its stock today. Now what Earlier this month Apple warned investors that iPhone 14 Pro and iPhone 14 Pro Max assembly would be impacted due to COVID-19 restrictions at the Zhengzhou facility, which is the primary producer of those high-end models. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple.
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What happened Black Friday can be an important day for consumer products companies like Apple (NASDAQ: AAPL), but investors aren't feeling good about its stock today. So what Investors are likely down on the stock because of a situation that's somewhat out of Apple's control. See the 10 stocks *Stock Advisor returns as of November 7, 2022 Howard Smith has positions in Apple.
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18294.0
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2022-11-25 00:00:00 UTC
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3 Tech Stocks You Can Count on in This Uncertain Market
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AAPL
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https://www.nasdaq.com/articles/3-tech-stocks-you-can-count-on-in-this-uncertain-market
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
2022 was a tough one for tech stocks. Most were walloped with higher interest rates, fears of aggressive rate hikes, geopolitical issues, economic concerns, and fed-up consumers. It chased even the sanest investors from the market. While it’s impossible to find a risk-free investment, some are safer than others – especially if they’re leaders in their sectors, with wide economic moats.
In fact, one of the best ways to spot strong tech stocks is to follow the Warren Buffett model, which is to invest in simple companies that are easy to understand; companies with predictable and proven earnings; companies that can be bought at a reasonable price; and companies with “economic moat,” or a unique advantage over its competition. Seeing that Warren Buffett is now worth about $108.2 billion, it’s a safe bet he knows a thing or two about safe investing.
AAPL Apple $148.11
AMD Advanced Micro Devices $75.14
NVDA Nvidia $162.70
Apple (AAPL)
Source: Vytautas Kielaitis / Shutterstock.com
With a diversified revenue stream, and an ability to adapt to new consumer trends, Apple (NASDAQ:AAPL) will always be one of the strong tech stocks to bet on. Even Warren Buffett once said he continues to invest in Apple because of its brand, ecosystem, and strong economic moat.
In addition, we have to consider that Apple is a global leader in innovation. Just look at the iPhone alone. First introduced to the public in 2007, it’s now one of the most popular mobile phones in the world, with a growing market share. Better, earnings have been solid.
The company just beat expectations on revenue and profits, and it showed that global demand for its products is still high. In its fourth quarter, the company’s revenue was up 8% to $90 billion. Mac sales were up 25% to $11.5 billion in the quarter. iPhone sales were up 10% to $42.6 billion. Operating income was up by 5% to $25 billion. EPS was up 4% to $1.29, putting it above expectations for $1.27.
Also, analysts, such as Deutsche Bank’s Sidney Ho, say Apple is trading at a reasonable valuation and has a buy rating with a price target of $175. Apple also carries a dividend yield of 0.66%, and it’s been aggressive with stock buybacks.
Tech Stocks: Advanced Micro Devices (AMD)
Source: JHVEPhoto / Shutterstock.com
Advanced Micro Devices (NASDAQ:AMD) was butchered for most of the year. But that’ll happen when most of the tech stock sector is dragging just about everything lower. However, after falling from about $150 to a low of about $60, the AMD stock is showing strong signs of life. With patience, I’d like to see the AMD stock run from its current price of $75.25 to $120 in the near term.
Analysts like the AMD stock, too. UBS upgraded AMD to a buy rating with a price target of $95 a share. Baird analyst Tristan Gerra also just upgraded the beaten-down tech name to outperform with a price target of $100. He believes the company’s newest Genoa chips could widen the company’s competitive moat. Credit Suisse analyst Chris Caso also initiated coverage of AMD with an outperform rating, with a price target of $90.
Piper Sandler analyst Harsh Kumar is also overweight on the stock, with a price target of $90. He added that earnings appear to be bottoming and that PC inventory should start to clear out in the early part of 2023. In addition, he believes AMD is a great way to trade the server uptrend and cloud strength.
Tech Stocks: Nvidia (NVDA)
Source: Michael Vi / Shutterstock.com
While Nvidia (NASDAQ:NVDA) was cut in half this year, it’s still one quality, safe name investors can count on. For one, the company makes the chips that are used to power some of the world’s most advanced technologies, including gaming, supercomputing, the cloud, artificial intelligence, machine learning, virtual reality, augmented reality, autonomous driving, etc. Again, NVDA was destroyed in 2022. But it’s still a high-quality name to count on.
Better, it’s also getting a jump on the Industrial Omniverse, which is already being used by major companies, like Lowe’s (NYSE: LOW), BMW (OTCMKTS:BMWYY), Siemens (OTCMKTS:SIEGY), and Lockheed Martin (NYSE:LMT).
Analysts, like Credit Suisse’s Chris Casso, say there’s been enough bad news for semiconductors to lower the risk of investing. The firm also said Nvidia was one of its top picks thanks to its strength in artificial intelligence, computing, and data centers. Better, the firm now has an outperform rating on the stock, with a $210 price target. Piper Sandler analyst Harsh Kumar also sees a near-term turnaround for Nvidia and has an overweight rating on the stock. For me, from a current price of $160.38, I’d like to see the stock run back to $195 by the first half of the New Year.
On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.
The post 3 Tech Stocks You Can Count on in This Uncertain Market 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 $148.11 AMD Advanced Micro Devices $75.14 NVDA Nvidia $162.70 Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com With a diversified revenue stream, and an ability to adapt to new consumer trends, Apple (NASDAQ:AAPL) will always be one of the strong tech stocks to bet on. Also, analysts, such as Deutsche Bank’s Sidney Ho, say Apple is trading at a reasonable valuation and has a buy rating with a price target of $175. Credit Suisse analyst Chris Caso also initiated coverage of AMD with an outperform rating, with a price target of $90.
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AAPL Apple $148.11 AMD Advanced Micro Devices $75.14 NVDA Nvidia $162.70 Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com With a diversified revenue stream, and an ability to adapt to new consumer trends, Apple (NASDAQ:AAPL) will always be one of the strong tech stocks to bet on. Tech Stocks: Advanced Micro Devices (AMD) Source: JHVEPhoto / Shutterstock.com Advanced Micro Devices (NASDAQ:AMD) was butchered for most of the year. Tech Stocks: Nvidia (NVDA) Source: Michael Vi / Shutterstock.com While Nvidia (NASDAQ:NVDA) was cut in half this year, it’s still one quality, safe name investors can count on.
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AAPL Apple $148.11 AMD Advanced Micro Devices $75.14 NVDA Nvidia $162.70 Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com With a diversified revenue stream, and an ability to adapt to new consumer trends, Apple (NASDAQ:AAPL) will always be one of the strong tech stocks to bet on. InvestorPlace - Stock Market News, Stock Advice & Trading Tips 2022 was a tough one for tech stocks. In fact, one of the best ways to spot strong tech stocks is to follow the Warren Buffett model, which is to invest in simple companies that are easy to understand; companies with predictable and proven earnings; companies that can be bought at a reasonable price; and companies with “economic moat,” or a unique advantage over its competition.
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AAPL Apple $148.11 AMD Advanced Micro Devices $75.14 NVDA Nvidia $162.70 Apple (AAPL) Source: Vytautas Kielaitis / Shutterstock.com With a diversified revenue stream, and an ability to adapt to new consumer trends, Apple (NASDAQ:AAPL) will always be one of the strong tech stocks to bet on. Analysts like the AMD stock, too. Tech Stocks: Nvidia (NVDA) Source: Michael Vi / Shutterstock.com While Nvidia (NASDAQ:NVDA) was cut in half this year, it’s still one quality, safe name investors can count on.
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18295.0
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2022-11-25 00:00:00 UTC
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GLOBAL MARKETS-Nasdaq falls and dollar rises on investor caution
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AAPL
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https://www.nasdaq.com/articles/global-markets-nasdaq-falls-and-dollar-rises-on-investor-caution
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nan
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nan
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By Sinéad Carew and Alun John
NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq closed Friday's shorter session lower with pressure from Apple Inc AAPL.O, while the dollar gained as investors shied away from risk as they worried about consumer spending and monitored China's reaction to a resurgence of COVID cases.
Frustration simmered among residents and business groups in China as the government set stricter COVID-19 control curbs just weeks after hopes for easing restrictions had been raised.
And market heavyweight Apple's shares were weighed down by concerns about its manufacturer Foxconn 2317.TW. Foxconn's flagship iPhone plant in China was expected to show a November shipment slowdown as thousands of employees left in the latest bout of unrest, Reuters reported, citing an unnamed a source with direct knowledge of the matter.
"The biggest news item is what's going on in China, the protests against the zero-covid-tolerance policies," said Brian Jacobsen, senior investment strategist at AllSpring.
"Investors are in a holding pattern waiting for some catalyst even though we're not quite sure what that catalyst will be," said Jacobsen noting that an easing of China's restrictions would promote a risk-on mood while tightening or keeping restrictions would have the opposite effect.
In the United States, trading was also likely impacted by lower volume as many traders take vacation for the market half-day due to Thursday's Thanksgiving holiday.
The mood was cautious as the all-important gift-buying season kicked off. With inflation soaring, investors are watching out for signs of weakness in consumer spending.
And while shoppers often turn out in record numbers for Black Friday discounts, so far on Friday, Reuters reported that crowds were thin outside stores on what is historically the busiest shopping day.
The Dow Jones Industrial Average.DJI rose 152.97 points, or 0.45%, to 34,347.03, the S&P 500 .SPX lost 1.14 points, or 0.03%, to 4,026.12 and the Nasdaq Composite .IXIC dropped 58.96 points, or 0.52%, to 11,226.36.
MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.15% on the day but added about 1.5% for the week.
Europe's retailers, while fearing the shopping season could be the worst in at least a decade, were also offering Black Friday deals in hopes of boosting spending against the backdrop of high inflation and the distraction of the soccer World Cup.
Europe's STOXX 600 STOXX ended down 0.02% on Friday but boasted a 1.7% weekly percentage gain, marking six weekly advances in a row for the first time since late 2021.
The U.S. dollar crept higher across the board in what looked like a quiet session but it remained near multi-month lows as the prospect of the Federal Reserve moderating the pace of its policy tightening weighed on the U.S. currency.
"Today has all the indicators of another session dominated by USD consolidation in lieu of any major cross-asset drivers," said Simon Harvey, senior FX analyst at Monex Europe adding that "liquidity is quite limited."
The dollar index .DXY rose 0.21%, while the euro EUR= was down 0.07% to $1.0401.
The Japanese yen weakened 0.33% versus the greenback at 139.08 per dollar, while Sterling GBP= was last trading at $1.2082, down 0.23% on the day.
U.S. Treasury yields gave up earlier gains after already falling on Wednesday after the Fed's November meeting minutes indicated agreement that rate hiking could be slowed.
Benchmark 10-year notes US10YT=RR were down 1.5 basis points to 3.694%, from 3.709% late on Wednesday.
The 30-year bond US30YT=RR was last up 1.3 basis points to yield 3.7554%, from 3.742%. The 2-year note US2YT=RR was last down 1.4 basis points to yield 4.469%, from 4.483%.
Oil prices fell on Friday in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil.
U.S. crude CLc1 futures settled down 2.13% at $76.28 per barrel while Brent settled at $83.63, down $1.71, or 2% on the day.
Gold prices retreated after the precious metal posted gains in the previous three sessions on expectations the U.S. Federal Reserve would scale back its rate-hiking stance.
Spot gold XAU= dropped 0.1% to $1,753.61 an ounce. U.S. gold futures GCc1 gained 0.40% to $1,751.90 an ounce. GOL/
World FX rates YTDhttp://tmsnrt.rs/2egbfVh
Global asset performancehttp://tmsnrt.rs/2yaDPgn
Asian stock marketshttps://tmsnrt.rs/2zpUAr4
(Reporting by Sinéad Carew, Saqib Iqbal Ahmed and Carolina Mandl in New York, Ankika Biswas and Shubham Batra in Bengaluru, Alun John in London, and Kevin Buckland in Tokyo; Editing by Christina Fincher, Kirsten Donovan, Deepa Babington, Philippa Fletcher)
((sinead.carew@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 Sinéad Carew and Alun John NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq closed Friday's shorter session lower with pressure from Apple Inc AAPL.O, while the dollar gained as investors shied away from risk as they worried about consumer spending and monitored China's reaction to a resurgence of COVID cases. Foxconn's flagship iPhone plant in China was expected to show a November shipment slowdown as thousands of employees left in the latest bout of unrest, Reuters reported, citing an unnamed a source with direct knowledge of the matter. Europe's retailers, while fearing the shopping season could be the worst in at least a decade, were also offering Black Friday deals in hopes of boosting spending against the backdrop of high inflation and the distraction of the soccer World Cup.
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By Sinéad Carew and Alun John NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq closed Friday's shorter session lower with pressure from Apple Inc AAPL.O, while the dollar gained as investors shied away from risk as they worried about consumer spending and monitored China's reaction to a resurgence of COVID cases. Europe's STOXX 600 STOXX ended down 0.02% on Friday but boasted a 1.7% weekly percentage gain, marking six weekly advances in a row for the first time since late 2021. Oil prices fell on Friday in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil.
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By Sinéad Carew and Alun John NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq closed Friday's shorter session lower with pressure from Apple Inc AAPL.O, while the dollar gained as investors shied away from risk as they worried about consumer spending and monitored China's reaction to a resurgence of COVID cases. The Dow Jones Industrial Average.DJI rose 152.97 points, or 0.45%, to 34,347.03, the S&P 500 .SPX lost 1.14 points, or 0.03%, to 4,026.12 and the Nasdaq Composite .IXIC dropped 58.96 points, or 0.52%, to 11,226.36. GOL/ World FX rates YTDhttp://tmsnrt.rs/2egbfVh Global asset performancehttp://tmsnrt.rs/2yaDPgn Asian stock marketshttps://tmsnrt.rs/2zpUAr4 (Reporting by Sinéad Carew, Saqib Iqbal Ahmed and Carolina Mandl in New York, Ankika Biswas and Shubham Batra in Bengaluru, Alun John in London, and Kevin Buckland in Tokyo; Editing by Christina Fincher, Kirsten Donovan, Deepa Babington, Philippa Fletcher) ((sinead.carew@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 Sinéad Carew and Alun John NEW YORK/LONDON, Nov 25 (Reuters) - The Nasdaq closed Friday's shorter session lower with pressure from Apple Inc AAPL.O, while the dollar gained as investors shied away from risk as they worried about consumer spending and monitored China's reaction to a resurgence of COVID cases. The Dow Jones Industrial Average.DJI rose 152.97 points, or 0.45%, to 34,347.03, the S&P 500 .SPX lost 1.14 points, or 0.03%, to 4,026.12 and the Nasdaq Composite .IXIC dropped 58.96 points, or 0.52%, to 11,226.36. The 2-year note US2YT=RR was last down 1.4 basis points to yield 4.469%, from 4.483%.
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18296.0
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2022-11-25 00:00:00 UTC
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US STOCKS-Nasdaq ends down as investors eye Black Friday sales, China infections
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AAPL
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https://www.nasdaq.com/articles/us-stocks-nasdaq-ends-down-as-investors-eye-black-friday-sales-china-infections
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nan
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nan
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By Carolina Mandl and Ankika Biswas
Nov 25 (Reuters) - The Nasdaq closed lower on Friday with pressure from Apple Inc AAPL.O in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China.
Apple fell 2.0% on news of reduced iPhone shipments from a Foxconn plant in China in November as production was hit by COVID-related worker unrest.
The session focused on retailers as Black Friday sales kicked off against the backdrop of stubbornly high inflation and cooling economic growth.
Shoppers were expected to turn out in record numbers to shop for Black Friday deals, but with inclement weather, crowds outside stores were thin on the traditionally busiest shopping day of the year.
U.S. retail stocks have become a barometer of consumer confidence as inflation bites. So far this year, the S&P 500 retail index .SPXRT is down a little over 30%, while the S&P 500 .SPX has fallen 15%.
Shares of retailers Target Corp TGT.N, Macy's Inc M.N and Best Buy Co Inc BBY.N were mixed, while the S&P consumer discretionary index .SPLRCDrose slightly.
"It's such a low volume trading day as most people are at home that I never count Friday after Thanksgiving," said Ed Cofrancesco, chief executive officer of International Assets Advisory, in Orlando, Florida.
Volume on U.S. exchanges was 4.54 billion shares, compared with the 11.25 billion full-session average over the last 20 trading days.
Starting next week, investors will focus on retail sales, China's newest COVID outbreak and the Federal Reserve's next steps, Cofrancesco said.
Wall street's main indexes have rallied strongly from their early October lows, with the S&P 500 up more than 15% on a boost from a better-than-expected earnings season and more recently on hopes of less aggressive interest rates hikes by the U.S. Federal Reserve.
Analysts now see a 71.1% chance that the Fed will increase its key benchmark rate by 50 basis points in December, with rates peaking in June 2023. FEDWATCH
The Dow Jones Industrial Average .DJI rose 152.97 points, or 0.45%, to 34,347.03; the S&P 500 .SPX lost 1.14 points, or 0.03%, at 4,026.12; and the Nasdaq Composite .IXIC dropped 58.96 points, or 0.52%, to 11,226.36.
All three indexes ended the Thanksgiving week with gains, led by the Dow, which rose 1.78%.
Activision Blizzard Inc ATVI.O plunged 4.07% on a media report that the U.S. Federal Trade Commission was likely to file an antitrust lawsuit to block Microsoft Corp's MSFT.O $69 billion takeover bid for the video game publisher.
U.S. stock markets closed at 1 p.m. ET, after Thursday's Thanksgiving holiday.
Advancing issues outnumbered decliners on the NYSE by a 1.81-to-1 ratio; on Nasdaq, a 1.35-to-1 ratio favored advancers.
The S&P 500 posted 22 new 52-week highs and no new lows; the Nasdaq Composite recorded 89 new highs and 83 new lows.
(Reporting by Ankika Biswas and Shubham Batra in Bengaluru; Editing by Shounak Dasgupta and Richard Chang)
((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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By Carolina Mandl and Ankika Biswas Nov 25 (Reuters) - The Nasdaq closed lower on Friday with pressure from Apple Inc AAPL.O in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China. "It's such a low volume trading day as most people are at home that I never count Friday after Thanksgiving," said Ed Cofrancesco, chief executive officer of International Assets Advisory, in Orlando, Florida. Wall street's main indexes have rallied strongly from their early October lows, with the S&P 500 up more than 15% on a boost from a better-than-expected earnings season and more recently on hopes of less aggressive interest rates hikes by the U.S. Federal Reserve.
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By Carolina Mandl and Ankika Biswas Nov 25 (Reuters) - The Nasdaq closed lower on Friday with pressure from Apple Inc AAPL.O in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China. The session focused on retailers as Black Friday sales kicked off against the backdrop of stubbornly high inflation and cooling economic growth. Starting next week, investors will focus on retail sales, China's newest COVID outbreak and the Federal Reserve's next steps, Cofrancesco said.
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By Carolina Mandl and Ankika Biswas Nov 25 (Reuters) - The Nasdaq closed lower on Friday with pressure from Apple Inc AAPL.O in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China. "It's such a low volume trading day as most people are at home that I never count Friday after Thanksgiving," said Ed Cofrancesco, chief executive officer of International Assets Advisory, in Orlando, Florida. FEDWATCH The Dow Jones Industrial Average .DJI rose 152.97 points, or 0.45%, to 34,347.03; the S&P 500 .SPX lost 1.14 points, or 0.03%, at 4,026.12; and the Nasdaq Composite .IXIC dropped 58.96 points, or 0.52%, to 11,226.36.
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By Carolina Mandl and Ankika Biswas Nov 25 (Reuters) - The Nasdaq closed lower on Friday with pressure from Apple Inc AAPL.O in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China. The session focused on retailers as Black Friday sales kicked off against the backdrop of stubbornly high inflation and cooling economic growth. So far this year, the S&P 500 retail index .SPXRT is down a little over 30%, while the S&P 500 .SPX has fallen 15%.
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18297.0
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2022-11-25 00:00:00 UTC
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These 2 Stocks Were on Big Shoppers' Lists on Black Friday
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AAPL
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https://www.nasdaq.com/articles/these-2-stocks-were-on-big-shoppers-lists-on-black-friday
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nan
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nan
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The day after Thanksgiving is often a quiet one on Wall Street, with many professionals choosing to take the opportunity for a rare four-day weekend. However, markets are open for trading until 1 p.m. ET, and futures contracts on major stock indexes suggested that stock prices would be flat to slightly higher overall when the shortened trading session begins.
Black Friday also has a reputation for shopping, and this year, it's not just happening online or at the malls. Shares of Silvergate Capital (NYSE: SI) and Manchester United (NYSE: MANU) got boosts in premarket trading as a combination of news and rumors swirled about some high-profile prospective buyers of their shares.
Silvergate gets some crypto interest
Shares of Silvergate Capital were up almost 2% on Friday morning, following an 11% rise on the day before Thanksgiving. The cryptocurrency banking expert has taken a hit recently due to concerns about exposure to the bankruptcy of digital asset exchange giant FTX, but a filing with the U.S. Securities and Exchange Commission (SEC) late Wednesday showed that Silvergate is attracting the attention of some well-known investors in the crypto space.
The SEC filings showed that Block.one, which developed the EOS blockchain protocol, now holds 2.36 million shares of Silvergate. That's 7.46% of the bank's outstanding shares, and a separate filing from Block.one founder Brendan Blumer showed his holding another 571,000 shares with sole voting power, for a combined stake of 9.27%.
Block.one issued a statement on Thanksgiving Day explaining that it believes Silvergate has been able to provide valuable innovation in the digital asset realm within the regulatory framework that banks must follow. That's an invaluable asset during times when crypto-related ventures have substantial counterparty risk, and Block.one played up Silvergate's conservatively managed balance sheet.
The Silvergate Exchange Network has been an important gateway between mainstream financial infrastructure and the 24/7 digital asset world, and its shares have fallen sharply as declines in digital asset prices have steepened due to ripple effects from the FTX bankruptcy. Block.one's move is a vote of confidence, and investors seem willing to take notice even on a slow trading day.
Is Apple ready for some soccer?
Meanwhile, shares of Manchester United rose another 9% Friday morning, adding to their 26% jump on Wednesday. The English soccer team's stock continued its upward trajectory as reports surfaced that it might have gotten the attention of an interesting potential buyer.
Manchester United's stock started soaring when the team announced that it would pursue strategic alternatives, which could include a potential sale. After having played a dominant role in the sport in England for 20 years, Man U has fallen from grace and hasn't won a Premier League championship in a decade. Fans are anxious for ownership to make larger investments to get top-quality players and coaching in order to secure a return to the winner's circle.
Friday's move higher comes from a tabloid report that Apple (NASDAQ: AAPL) might pursue a purchase of the team. Putting a $7 billion price tag on Manchester United, the unsourced report speculated that Apple and CEO Tim Cook might see opportunities in owning a well-known sports franchise.
Apple shares were down 1% in premarket trading, but even spending that much would hardly put a dent in the tech giant's cash balance. Unless other news organizations are able to substantiate the report, though, shareholders should be cautious about making too much of the rumors.
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Dan Caplinger has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends Silvergate Capital Corporation and recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on 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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Friday's move higher comes from a tabloid report that Apple (NASDAQ: AAPL) might pursue a purchase of the team. Block.one issued a statement on Thanksgiving Day explaining that it believes Silvergate has been able to provide valuable innovation in the digital asset realm within the regulatory framework that banks must follow. After having played a dominant role in the sport in England for 20 years, Man U has fallen from grace and hasn't won a Premier League championship in a decade.
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Friday's move higher comes from a tabloid report that Apple (NASDAQ: AAPL) might pursue a purchase of the team. Shares of Silvergate Capital (NYSE: SI) and Manchester United (NYSE: MANU) got boosts in premarket trading as a combination of news and rumors swirled about some high-profile prospective buyers of their shares. The cryptocurrency banking expert has taken a hit recently due to concerns about exposure to the bankruptcy of digital asset exchange giant FTX, but a filing with the U.S. Securities and Exchange Commission (SEC) late Wednesday showed that Silvergate is attracting the attention of some well-known investors in the crypto space.
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Friday's move higher comes from a tabloid report that Apple (NASDAQ: AAPL) might pursue a purchase of the team. Shares of Silvergate Capital (NYSE: SI) and Manchester United (NYSE: MANU) got boosts in premarket trading as a combination of news and rumors swirled about some high-profile prospective buyers of their shares. Silvergate gets some crypto interest Shares of Silvergate Capital were up almost 2% on Friday morning, following an 11% rise on the day before Thanksgiving.
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Friday's move higher comes from a tabloid report that Apple (NASDAQ: AAPL) might pursue a purchase of the team. Shares of Silvergate Capital (NYSE: SI) and Manchester United (NYSE: MANU) got boosts in premarket trading as a combination of news and rumors swirled about some high-profile prospective buyers of their shares. Silvergate gets some crypto interest Shares of Silvergate Capital were up almost 2% on Friday morning, following an 11% rise on the day before Thanksgiving.
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18298.0
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2022-11-25 00:00:00 UTC
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Should Invesco S&P 500 Top 50 ETF (XLG) Be on Your Investing Radar?
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AAPL
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https://www.nasdaq.com/articles/should-invesco-sp-500-top-50-etf-xlg-be-on-your-investing-radar-5
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nan
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nan
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Launched on 05/04/2005, the Invesco S&P 500 Top 50 ETF (XLG) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Blend segment of the US equity market.
The fund is sponsored by Invesco. It has amassed assets over $1.98 billion, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Large cap companies typically have a market capitalization above $10 billion. Overall, they are usually a stable option, with less risk and more sure-fire cash flows than mid and small cap companies.
Typically holding a combination of both growth and value stocks, blend ETFs also demonstrate qualities seen in value and growth investments.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.20%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.21%.
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 38.60% of the portfolio. Healthcare and Telecom round out the top three.
Looking at individual holdings, Apple Inc (AAPL) accounts for about 13.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN).
The top 10 holdings account for about 49.86% of total assets under management.
Performance and Risk
XLG seeks to match the performance of the S&P 500 Top 50 ETF Index before fees and expenses. The S&P 500 Top 50 Index is composed of 50 of the largest companies in the S&P 500 Index.
The ETF has lost about -20.61% so far this year and is down about -18.73% in the last one year (as of 11/25/2022). In the past 52-week period, it has traded between $266.55 and $373.67.
The ETF has a beta of 1 and standard deviation of 25.33% for the trailing three-year period, making it a medium risk choice in the space. With about 53 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco S&P 500 Top 50 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, XLG 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 $307.19 billion in assets, SPDR S&P 500 ETF has $384.27 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.
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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Invesco S&P 500 Top 50 ETF (XLG): 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 13.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Click to get this free report Invesco S&P 500 Top 50 ETF (XLG): ETF Research Reports Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Launched on 05/04/2005, the Invesco S&P 500 Top 50 ETF (XLG) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Blend segment of the US equity market.
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Click to get this free report Invesco S&P 500 Top 50 ETF (XLG): 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 13.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Why Large Cap Blend Large cap companies typically have a market capitalization above $10 billion.
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Click to get this free report Invesco S&P 500 Top 50 ETF (XLG): 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 13.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Alternatives Invesco S&P 500 Top 50 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 13.71% of total assets, followed by Microsoft Corp (MSFT) and Amazon.com Inc (AMZN). Click to get this free report Invesco S&P 500 Top 50 ETF (XLG): ETF Research Reports Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports iShares Core S&P 500 ETF (IVV): ETF Research Reports To read this article on Zacks.com click here. Launched on 05/04/2005, the Invesco S&P 500 Top 50 ETF (XLG) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Blend segment of the US equity market.
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18299.0
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2022-11-25 00:00:00 UTC
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US STOCKS-Wall Street eyes subdued open with Black Friday sales in focus
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-eyes-subdued-open-with-black-friday-sales-in-focus
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nan
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nan
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By Ankika Biswas and Shubham Batra
Nov 25 (Reuters) - Wall Street's main indexes were set for a subdued open on Friday, with investors closely monitoring the major retailers as Black Friday sales began against the backdrop of stubbornly high inflation and worries about a potential recession next year.
U.S. retail stocks, a barometer of consumer confidence as inflation bites, remain under pressure after a lull in October and November sales figures.
Retailers have been compelled to offer steep discounts to lure shoppers, threatening their profit margins. In fact, retailers across Europe fear the overall Christmas trading season could be the worst in at least a decade.
Target Corp TGT.N, Macy's Inc M.N and Best Buy Co Inc BBY.N have warned of steeper discounts this November and December than in the previous two years. Their shares were mixed in light premarket trading.
Focus will also be on consumer discretionary stocks, a group whose members range from Amazon.com Inc AMZN.O to automaker Tesla Inc TSLA.O and retailer Target, for greater insight into the extent that consumers are opening their wallets.
An estimated 166.3 million people are planning to shop from Thanksgiving Day through Cyber Monday this year, according to the National Retail Federation.
"It's a very competitive environment for retail, both price cutting and who's best positioned for inventory will play a big part in how you do over the season," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.
"Margins will be squeezed and profits will be lower ... bigger question will be company forecasts for next year and whether investors think this is a reciprocal bottom or start of a new trend and reduced spending."
Wall street's main indexes have rallied strongly since hitting their early October lows, with the S&P 500 .SPX up more than 12% on a boost a from better-than-expected earnings season and more recently on hopes of less aggressive interest rates hikes by the U.S. Federal Reserve.
Expectations are now of a 63.5% chance that the Fed will increase its key benchmark rate by 50 basis points in December, with the rates peaking in June 2023. FEDWATCH
At 08:30 a.m. ET, Dow e-minis 1YMcv1 were up 38 points, or 0.11%, S&P 500 e-minis EScv1 were up 1 point, or 0.02%, and Nasdaq 100 e-minis NQcv1 were down 28.5 points, or 0.24%.
Activision Blizzard ATVI.O dipped 3.2% on a media report that the U.S. Federal Trade Commission is likely to file an antitrust lawsuit to block Microsoft Corp's MSFT.O $69-billion takeover bid for the video game publisher.
Apple Inc AAPL.O slipped 1.1% after news of reduced iPhone shipments in November from a Foxconn plant in China.
U.S. stock markets will remain open for a half session on Friday till 1 p.m. ET, after being closed on Thursday for Thanksgiving.
(Reporting by Ankika Biswas and Shubham Batra in Bengaluru; Editing by Shounak Dasgupta)
((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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Apple Inc AAPL.O slipped 1.1% after news of reduced iPhone shipments in November from a Foxconn plant in China. "It's a very competitive environment for retail, both price cutting and who's best positioned for inventory will play a big part in how you do over the season," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. Wall street's main indexes have rallied strongly since hitting their early October lows, with the S&P 500 .SPX up more than 12% on a boost a from better-than-expected earnings season and more recently on hopes of less aggressive interest rates hikes by the U.S. Federal Reserve.
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Apple Inc AAPL.O slipped 1.1% after news of reduced iPhone shipments in November from a Foxconn plant in China. By Ankika Biswas and Shubham Batra Nov 25 (Reuters) - Wall Street's main indexes were set for a subdued open on Friday, with investors closely monitoring the major retailers as Black Friday sales began against the backdrop of stubbornly high inflation and worries about a potential recession next year. Wall street's main indexes have rallied strongly since hitting their early October lows, with the S&P 500 .SPX up more than 12% on a boost a from better-than-expected earnings season and more recently on hopes of less aggressive interest rates hikes by the U.S. Federal Reserve.
|
Apple Inc AAPL.O slipped 1.1% after news of reduced iPhone shipments in November from a Foxconn plant in China. By Ankika Biswas and Shubham Batra Nov 25 (Reuters) - Wall Street's main indexes were set for a subdued open on Friday, with investors closely monitoring the major retailers as Black Friday sales began against the backdrop of stubbornly high inflation and worries about a potential recession next year. U.S. retail stocks, a barometer of consumer confidence as inflation bites, remain under pressure after a lull in October and November sales figures.
|
Apple Inc AAPL.O slipped 1.1% after news of reduced iPhone shipments in November from a Foxconn plant in China. By Ankika Biswas and Shubham Batra Nov 25 (Reuters) - Wall Street's main indexes were set for a subdued open on Friday, with investors closely monitoring the major retailers as Black Friday sales began against the backdrop of stubbornly high inflation and worries about a potential recession next year. U.S. retail stocks, a barometer of consumer confidence as inflation bites, remain under pressure after a lull in October and November sales figures.
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