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19100.0
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2022-09-30 00:00:00 UTC
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Warren Buffett's Top 3 Dividend Stocks: Are They Buys Now?
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AAPL
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https://www.nasdaq.com/articles/warren-buffetts-top-3-dividend-stocks%3A-are-they-buys-now
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nan
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nan
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Warren Buffett doesn't buy stocks for their dividends. However, the legendary investor hasn't complained about receiving dividend payments to boost Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) coffers, either.
Berkshire makes a lot of money from dividends. Here are Buffett's top three dividend stocks (based on their weights in Berkshire's portfolio), and whether or not they're good picks to buy now.
1. Apple
Apple (NASDAQ: AAPL) ranks by far as the biggest holding for Berkshire, making up 42.7% of the conglomerate's portfolio. The tech giant doesn't offer a high dividend yield. However, the sheer size of Berkshire's stake -- over 915.2 million shares, including those owned by its New England Asset Management (NEAM) subsidiary -- means that Apple generates a significant amount of dividend income for Buffett's company.
In his latest letter to Berkshire Hathaway shareholders, Buffett revealed that Apple paid $785 million in dividends to Berkshire in 2021. The total should be even greater in 2022, since Berkshire bought additional shares of Apple earlier this year.
Unfortunately, those dividend payments won't help all that much in cushioning the negative impact of Apple's dismal stock performance so far in 2022. The company's share price has tumbled nearly 20% year to date, primarily as the result of economic concerns.
2. Bank of America
In terms of shares owned, Bank of America (NYSE: BAC) is Buffett's top dividend stock. Berkshire Hathaway holds over 1 billion shares of the big bank, including NEAM's position. Bank of America makes up 10% of Berkshire's total portfolio, making it the company's second-largest holding after Apple.
Bank of America's dividend yield of nearly 2.8% is attractive. The company also should have no problems keeping the dividends flowing with its low payout ratio of 26%. Berkshire should easily receive in the ballpark of $900 million in dividend payments from BofA this year.
Like Apple, though, Bank of America hasn't been a winner in 2022 when it comes to stock performance. Its shares have plunged more than 30% as investors worry about the potential of a recession.
3. Chevron
Buffett has led Berkshire to significantly increase its position in Chevron (NYSE: CVX) this year. Berkshire's NEAM subsidiary has also piled into the energy stock. Overall, Chevron ranks as Berkshire's third-largest holding, making up 7.4% of its total portfolio.
Chevron is actually Buffett's top dividend stock, based on dividend income generated for Berkshire. The huge oil and gas company should pay out nearly $930 million in dividends to Berkshire this year.
Buffett also has more to like about Chevron than its 3.9% dividend yield. The stock has delivered a year-to-date gain of over 20%, placing Chevron among the best performers of 2022 so far in Berkshire's portfolio.
Are they buys now?
Just because a great investor like Warren Buffett likes a stock doesn't necessarily mean that it's a good pick for all investors. Are Apple, Bank of America, and Chevron stocks worthy of consideration right now?
Apple could see its sales decline if the economy enters a recession. However, the company's prospects should remain strong over the long term. My view is that Apple is a good stock to buy on the dip and hold over the next decade and beyond.
Bank of America will likely benefit from rising interest rates. However, a weak economy could cause the number of new loans to decrease and defaults to increase. But with the company's shares trading below 8.5 times expected earnings, I think that Bank of America is a smart pick.
Chevron's fortunes hinge, in large part, on oil and gas prices. The company is ramping up efforts to provide more energy to Europe. That could especially pay off with the recent damage to the Nord Stream pipelines that deliver natural gas from Russia.
Global-market dynamics will continue to work in Chevron's favor, in my opinion. The stock remains a great alternative, especially for income investors.
10 stocks we like better than Chevron
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Bank of America is an advertising partner of The Ascent, a Motley Fool company. Keith Speights has positions in Apple, Bank of America, and Berkshire Hathaway (B shares). 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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Apple Apple (NASDAQ: AAPL) ranks by far as the biggest holding for Berkshire, making up 42.7% of the conglomerate's portfolio. Here are Buffett's top three dividend stocks (based on their weights in Berkshire's portfolio), and whether or not they're good picks to buy now. However, the sheer size of Berkshire's stake -- over 915.2 million shares, including those owned by its New England Asset Management (NEAM) subsidiary -- means that Apple generates a significant amount of dividend income for Buffett's company.
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Apple Apple (NASDAQ: AAPL) ranks by far as the biggest holding for Berkshire, making up 42.7% of the conglomerate's portfolio. Bank of America In terms of shares owned, Bank of America (NYSE: BAC) is Buffett's top dividend stock. Chevron is actually Buffett's top dividend stock, based on dividend income generated for Berkshire.
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Apple Apple (NASDAQ: AAPL) ranks by far as the biggest holding for Berkshire, making up 42.7% of the conglomerate's portfolio. Bank of America In terms of shares owned, Bank of America (NYSE: BAC) is Buffett's top dividend stock. Chevron is actually Buffett's top dividend stock, based on dividend income generated for Berkshire.
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Apple Apple (NASDAQ: AAPL) ranks by far as the biggest holding for Berkshire, making up 42.7% of the conglomerate's portfolio. Warren Buffett doesn't buy stocks for their dividends. Bank of America In terms of shares owned, Bank of America (NYSE: BAC) is Buffett's top dividend stock.
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19101.0
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2022-09-30 00:00:00 UTC
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Japanese stocks fall in worst month since March 2020
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AAPL
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https://www.nasdaq.com/articles/japanese-stocks-fall-in-worst-month-since-march-2020
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nan
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nan
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By Sam Byford
TOKYO, Sept 30 (Reuters) - Japanese stocks fell sharply on Friday, posting their biggest monthly drop since the COVID-19 pandemic first rocked markets 2-1/2 years ago, tracking overnight Wall Street losses.
The Nikkei share average .N225 closed down 1.83% at 25,937.21, its lowest close since July 1. The index shed 7.669% in September, its biggest monthly decline since March 2020.
The broader Topix .TOPX fell 1.76% to also record its worst month since March 2020.
All three major U.S. stock indexes fell overnight on heightened fears of a recession and a report that Apple Inc AAPL.O has cancelled a planned boost in iPhone 14 production. .N
"Yesterday's news about Apple suspending its production increase caused the market to factor in a global recession," Tokai Tokyo Research Institute senior strategist Takashi Nakamura said.
"Even if the economy is expected to improve in Japan, overseas trends will make it difficult for investors to buy Japanese stocks alone."
"I think the falls in U.S. stocks were an overreaction," said Eiji Kinouchi, chief technical analyst, Daiwa Securities, adding the same could be true of Japan, citing a gap between supply and demand at the end of the month.
Every sector on the Nikkei fell except real estate, which gained 0.54%. Of the index's 225 constituents, 186 declined, 35 advanced, and four traded flat.
Unitika Ltd 3103.T, up 2.41%, and Oki Electric Industry Co Ltd 6703.T, up 1.84%, were among the best performers on the Nikkei. Both stocks are set to be removed from the index after this week.
Shinsei Bank Ltd 8303.T jumped 6.96%, after a report in the Nikkei newspaper's online edition that SBI Holdings has applied for approval as a bank holding company, allowing it to increase its stake in the bank to more than 50%.
Automakers were among the worst performers, led by Mazda Motor Corp 7261.T, down 8.17%. Mitsubishi Motors Corp 7211.T, Nissan Motor Co Ltd 7201.T, and Subaru Corp 7270.T followed suit.
Clothing giant and Uniqlo parent company Fast Retailing Co Ltd 9983.T weighed on the index the most, falling 3.58%.
(Reporting by Sam Byford and Tokyo markets team; Editing by Rashmi Aich)
((Sam.Byford@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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All three major U.S. stock indexes fell overnight on heightened fears of a recession and a report that Apple Inc AAPL.O has cancelled a planned boost in iPhone 14 production. By Sam Byford TOKYO, Sept 30 (Reuters) - Japanese stocks fell sharply on Friday, posting their biggest monthly drop since the COVID-19 pandemic first rocked markets 2-1/2 years ago, tracking overnight Wall Street losses. .N "Yesterday's news about Apple suspending its production increase caused the market to factor in a global recession," Tokai Tokyo Research Institute senior strategist Takashi Nakamura said.
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All three major U.S. stock indexes fell overnight on heightened fears of a recession and a report that Apple Inc AAPL.O has cancelled a planned boost in iPhone 14 production. By Sam Byford TOKYO, Sept 30 (Reuters) - Japanese stocks fell sharply on Friday, posting their biggest monthly drop since the COVID-19 pandemic first rocked markets 2-1/2 years ago, tracking overnight Wall Street losses. (Reporting by Sam Byford and Tokyo markets team; Editing by Rashmi Aich) ((Sam.Byford@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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All three major U.S. stock indexes fell overnight on heightened fears of a recession and a report that Apple Inc AAPL.O has cancelled a planned boost in iPhone 14 production. By Sam Byford TOKYO, Sept 30 (Reuters) - Japanese stocks fell sharply on Friday, posting their biggest monthly drop since the COVID-19 pandemic first rocked markets 2-1/2 years ago, tracking overnight Wall Street losses. Shinsei Bank Ltd 8303.T jumped 6.96%, after a report in the Nikkei newspaper's online edition that SBI Holdings has applied for approval as a bank holding company, allowing it to increase its stake in the bank to more than 50%.
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All three major U.S. stock indexes fell overnight on heightened fears of a recession and a report that Apple Inc AAPL.O has cancelled a planned boost in iPhone 14 production. By Sam Byford TOKYO, Sept 30 (Reuters) - Japanese stocks fell sharply on Friday, posting their biggest monthly drop since the COVID-19 pandemic first rocked markets 2-1/2 years ago, tracking overnight Wall Street losses. The index shed 7.669% in September, its biggest monthly decline since March 2020.
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19102.0
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2022-09-30 00:00:00 UTC
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Stock Market News for Sep 30, 2022
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AAPL
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https://www.nasdaq.com/articles/stock-market-news-for-sep-30-2022
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nan
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nan
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Wall Street closed sharply lower on Thursday and gave up all recovered ground of the last trading session. Market participants are gradually adjusting the cost of an imminent recession in stock valuations. Investors’ sentiment has dented significantly as a global technology tycoon is assessing demand shortage going forward. All the three major stock indexes ended in negative territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) slid 1.5% or 458.13 points to close at 29,225.61. The blue-chip index has recorded a new closing low in 2022. Notably, 27 components of the 30-stock index ended in negative territory while 2 in green and 1 remained unchanged.
The tech-heavy Nasdaq Composite finished at 10,737.50, tumbling 2.3% or 314.13 points due to disappointing performance of large-cap technology stocks.
The S&P 500 dropped 2.1% to end at 3,640.47, marking its lowest closing since Nov 30, 2020. Ten out of 11 broad sectors of the benchmark index closed in negative zone. The Communication Services Select Sector SPDR (XLC), the Real Estate Select Sector SPDR (XLRE), the Consumer Discretionary Select Sector SPDR (XLY) and the Technology Select Sector SPDR (XLK) plunged 2.4%, 2.8%, 3.5% and 2.6%, respectively.
The fear-gauge CBOE Volatility Index (VIX) was up 5.5% to 31.84. A total of 11.6 billion shares were traded on Thursday, higher than the last 20-session average of 11.6 billion. The S&P 500 recorded no new 52-week highs and 106 new 52-week lows. The Nasdaq Composite posted 14 new 52-week and 518 new lows.
Technology Stocks Lead Market Mayhem
Yesterday’s market turmoil was mainly owing to a rare negative news for global technology behemoth Apple Inc. AAPL. On Sep 28, Bloomberg reported that Apple plans not to increase the production of its newly launched iPhone as the demand failed to match the company’s expectation.
Per Bloomberg, Apple told its suppliers not to increase assembly of its flagship iPhone 14 product family. Earlier the company decided to increase the production of iPhone 14 by 6 million units in the second half of 2022.
Apple is trying reduce its dependence on China for the iPhone production line. Earlier this month, the company said that it has shifted some of its production facility from China to India. Consequently, the shares of Apple dropped 4.9%. Apple currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earlier several U.S. corporate behemoths have opted for workforce retrenchment and other cost cutting measures. Various retail bigwigs have already warned for slowing demand. Social media companies are suffering from a stiff reduction of digital advertisement.
Despite a global financial crisis due to soaring U.S. dollar price, various important Fed officials have said that they are in favor of rigorous interest rate hike so long price stability restored. Market participants are worried that the Fed may continue with ultra-hawkish monetary policies even if the U.S. economy enters a recession.
Economic Data
The Department of Labor reported that the weekly jobless claims fell to a 5-month low at 193,000 for the week ended Sep 24. The consensus estimate was 216,000. The Data for the previous week was revised downward to 209,000 from 213,000 reported earlier. Continuing claims that reported a week behind fell 29,000 to 1.347 million.
The third estimate of the second-quarter 2022 U.S. GDP contracted 0.6%, same with that of the second estimate. The personal consumption expenditure (PCE) inflation came in at 7.3% in the second quarter 2022 compared with 7.5% in the first quarter. The core PCE inflation (excluding the volatile food and energy items) increased 4.7% in the second quarter compared with 5.6% in the first quarter.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Apple Inc. (AAPL): Free Stock Analysis Report
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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Technology Stocks Lead Market Mayhem Yesterday’s market turmoil was mainly owing to a rare negative news for global technology behemoth Apple Inc. AAPL. Apple Inc. (AAPL): Free Stock Analysis Report The tech-heavy Nasdaq Composite finished at 10,737.50, tumbling 2.3% or 314.13 points due to disappointing performance of large-cap technology stocks.
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Technology Stocks Lead Market Mayhem Yesterday’s market turmoil was mainly owing to a rare negative news for global technology behemoth Apple Inc. AAPL. Apple Inc. (AAPL): Free Stock Analysis Report The Communication Services Select Sector SPDR (XLC), the Real Estate Select Sector SPDR (XLRE), the Consumer Discretionary Select Sector SPDR (XLY) and the Technology Select Sector SPDR (XLK) plunged 2.4%, 2.8%, 3.5% and 2.6%, respectively.
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Technology Stocks Lead Market Mayhem Yesterday’s market turmoil was mainly owing to a rare negative news for global technology behemoth Apple Inc. AAPL. Apple Inc. (AAPL): Free Stock Analysis Report On Sep 28, Bloomberg reported that Apple plans not to increase the production of its newly launched iPhone as the demand failed to match the company’s expectation.
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Technology Stocks Lead Market Mayhem Yesterday’s market turmoil was mainly owing to a rare negative news for global technology behemoth Apple Inc. AAPL. Apple Inc. (AAPL): Free Stock Analysis Report Ten out of 11 broad sectors of the benchmark index closed in negative zone.
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19103.0
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2022-09-30 00:00:00 UTC
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US STOCKS-Futures edge higher ahead of key inflation data
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-edge-higher-ahead-of-key-inflation-data
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nan
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nan
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By Ankika Biswas
Sept 30 (Reuters) - U.S. stock index futures rose on Friday ahead of key inflation data in a tumultuous month marked by heavy losses on concerns of an economic downturn fueled by the Federal Reserve's aggressive push to curb soaring prices.
All eyes will be on the core personal consumption expenditure price index for August, a closely watched metric by the Fed to gauge spending patterns amid rising price pressures.
It is seen rising 0.5% compared to a 0.1% increase in July and is due at 8.30 a.m. ET.
Investors will also keenly listen to commentaries from Fed Vice Chair Lael Brainard, Governor Michelle Bowman, Richmond President Thomas Barkin and New York President John Williams for further clues on the central bank's aggressive monetary policy.
The U.S. central bank's ultra-hawkish stance on interest rate hikes have sharply affected market sentiment for risk-taking, with all the three major indexes now in bear market and set for their third straight quarterly decline.
The Dow Jones Industrial Average .DJI was set for its worst month since pandemic lows. The S&P 500 .SPX has slumped nearly 8% so far in September, testing its lowest level since November 2020, while the Nasdaq .IXIC has lost over 9% during the month and tested its lowest level in two years.
At 6:49 a.m. ET, Dow e-minis 1YMcv1 were up 150 points, or 0.51%, S&P 500 e-minis EScv1 were up 23.5 points, or 0.64%, and Nasdaq 100 e-minis NQcv1 were up 67.25 points, or 0.6%.
Nike Inc NKE.N slid 10% in premarket trading after the world's largest sportswear marker warned that gross margins would remain under pressure this year due to ramped up discounts and a rapidly strengthening dollar.
Shares of rate-sensitive Tesla Inc TSLA.O, Apple Inc AAPL.O, Amazon.com AMZN.O, Meta Platforms META.O, Alphabet Inc GOOGL.O and Microsoft Corp MSFT.O were up a little less than 1% each, as the yield on the U.S. 10-year Treasury note US10YT=RR slipped to a one-week low of 3.682%. US/
(Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)
((Ankika.Biswas@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of rate-sensitive Tesla Inc TSLA.O, Apple Inc AAPL.O, Amazon.com AMZN.O, Meta Platforms META.O, Alphabet Inc GOOGL.O and Microsoft Corp MSFT.O were up a little less than 1% each, as the yield on the U.S. 10-year Treasury note US10YT=RR slipped to a one-week low of 3.682%. By Ankika Biswas Sept 30 (Reuters) - U.S. stock index futures rose on Friday ahead of key inflation data in a tumultuous month marked by heavy losses on concerns of an economic downturn fueled by the Federal Reserve's aggressive push to curb soaring prices. Nike Inc NKE.N slid 10% in premarket trading after the world's largest sportswear marker warned that gross margins would remain under pressure this year due to ramped up discounts and a rapidly strengthening dollar.
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Shares of rate-sensitive Tesla Inc TSLA.O, Apple Inc AAPL.O, Amazon.com AMZN.O, Meta Platforms META.O, Alphabet Inc GOOGL.O and Microsoft Corp MSFT.O were up a little less than 1% each, as the yield on the U.S. 10-year Treasury note US10YT=RR slipped to a one-week low of 3.682%. All eyes will be on the core personal consumption expenditure price index for August, a closely watched metric by the Fed to gauge spending patterns amid rising price pressures. Investors will also keenly listen to commentaries from Fed Vice Chair Lael Brainard, Governor Michelle Bowman, Richmond President Thomas Barkin and New York President John Williams for further clues on the central bank's aggressive monetary policy.
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Shares of rate-sensitive Tesla Inc TSLA.O, Apple Inc AAPL.O, Amazon.com AMZN.O, Meta Platforms META.O, Alphabet Inc GOOGL.O and Microsoft Corp MSFT.O were up a little less than 1% each, as the yield on the U.S. 10-year Treasury note US10YT=RR slipped to a one-week low of 3.682%. By Ankika Biswas Sept 30 (Reuters) - U.S. stock index futures rose on Friday ahead of key inflation data in a tumultuous month marked by heavy losses on concerns of an economic downturn fueled by the Federal Reserve's aggressive push to curb soaring prices. All eyes will be on the core personal consumption expenditure price index for August, a closely watched metric by the Fed to gauge spending patterns amid rising price pressures.
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Shares of rate-sensitive Tesla Inc TSLA.O, Apple Inc AAPL.O, Amazon.com AMZN.O, Meta Platforms META.O, Alphabet Inc GOOGL.O and Microsoft Corp MSFT.O were up a little less than 1% each, as the yield on the U.S. 10-year Treasury note US10YT=RR slipped to a one-week low of 3.682%. By Ankika Biswas Sept 30 (Reuters) - U.S. stock index futures rose on Friday ahead of key inflation data in a tumultuous month marked by heavy losses on concerns of an economic downturn fueled by the Federal Reserve's aggressive push to curb soaring prices. All eyes will be on the core personal consumption expenditure price index for August, a closely watched metric by the Fed to gauge spending patterns amid rising price pressures.
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19104.0
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2022-09-29 00:00:00 UTC
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After Hours Most Active for Sep 29, 2022 : MCHI, MU, QQQ, AMZN, AAPL, BEKE, FDMT, FE, NKE, GE, T, DIS
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-sep-29-2022-%3A-mchi-mu-qqq-amzn-aapl-beke-fdmt-fe-nke-ge-t-dis
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nan
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nan
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The NASDAQ 100 After Hours Indicator is down -7.41 to 11,157.37. The total After hours volume is currently 80,336,294 shares traded.
The following are the most active stocks for the after hours session:
iShares MSCI China ETF (MCHI) is -0.1142 at $42.77, with 4,285,006 shares traded., following a 52-week high recorded in today's regular session.
Micron Technology, Inc. (MU) is +0.1 at $50.11, with 3,651,914 shares traded. Smarter Analyst Reports: Micron to Unveil Memory Design Center in Atlanta
Invesco QQQ Trust, Series 1 (QQQ) is +0.27 at $272.14, with 3,310,772 shares traded. This represents a 1.06% increase from its 52 Week Low.
Amazon.com, Inc. (AMZN) is +0.1 at $114.90, with 2,292,612 shares traded. As reported by Zacks, the current mean recommendation for AMZN is in the "buy range".
Apple Inc. (AAPL) is -0.18 at $142.30, with 2,280,068 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
KE Holdings Inc (BEKE) is unchanged at $16.26, with 2,243,117 shares traded. As reported by Zacks, the current mean recommendation for BEKE is in the "buy range".
4D Molecular Therapeutics, Inc. (FDMT) is unchanged at $8.22, with 1,998,543 shares traded. As reported in the last short interest update the days to cover for FDMT is 7.734705; this calculation is based on the average trading volume of the stock.
FirstEnergy Corp. (FE) is unchanged at $37.18, with 1,597,393 shares traded. FE's current last sale is 83.55% of the target price of $44.5.
Nike, Inc. (NKE) is -3.18 at $92.15, with 1,143,383 shares traded. As reported by Zacks, the current mean recommendation for NKE is in the "buy range".
General Electric Company (GE) is -0.39 at $62.34, with 1,119,674 shares traded. As reported by Zacks, the current mean recommendation for GE is in the "buy range".
AT&T Inc. (T) is -0.02 at $15.51, with 1,021,939 shares traded., following a 52-week high recorded in today's regular session.
Walt Disney Company (The) (DIS) is -0.0501 at $97.40, with 1,013,168 shares traded. As reported by Zacks, the current mean recommendation for DIS 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 -0.18 at $142.30, with 2,280,068 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". iShares MSCI China ETF (MCHI) is -0.1142 at $42.77, with 4,285,006 shares traded., following a 52-week high recorded in today's regular session.
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Apple Inc. (AAPL) is -0.18 at $142.30, with 2,280,068 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The total After hours volume is currently 80,336,294 shares traded.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is -0.18 at $142.30, with 2,280,068 shares traded. The total After hours volume is currently 80,336,294 shares traded.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is -0.18 at $142.30, with 2,280,068 shares traded. The following are the most active stocks for the after hours session:
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19105.0
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2022-09-29 00:00:00 UTC
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Lions Gate (LGF.A) Set to Rebrand Starzplay as Lionsgate+
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AAPL
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https://www.nasdaq.com/articles/lions-gate-lgf.a-set-to-rebrand-starzplay-as-lionsgate
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nan
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nan
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Lions Gate Entertainment (LGF.A) recently announced that it is going to be rebranding Starzplay as Lionsgate+ in 35 countries outside the United States and Canada.
The new brand look with a graphics package, color palette and design elements is expected to bring a differentiated identity and build on the brand equity for Lionsgate.
Though Lions Gate retains its Starz brand in the United States and Canada along with Starzplay Arabia and south and southeast Asia's Lionsgate Play.
Strong Portfolio of Movies & Shows to Boost Subscriber Growth
Lionsgate benefits from the strong library of films and television titles that Starz has. Starz achieved a total global subscriber count of 37.3 million in first-quarter fiscal 2023, which grew 29% year over year. The company targets 50-60 million global subscribers by 2025.
Starz originals in 2022, like the sixth season of Outlander, released in May, the second season of P-Valley, released in June, and The Serpent Queen, released in September have gained a lot of traction from viewers.
The company has significantly ramped up its spending on premium content for Starz in fiscal 2023. Its upcoming series, Dangerous Liaisons, to be released in November, is also expected to add to it.
Lions Gate Entertainment Corp. Price and Consensus
Lions Gate Entertainment Corp. price-consensus-chart | Lions Gate Entertainment Corp. Quote
Starz has also signed an agreement with Sony that allows the former to air Sony’s popular films like Venom and Spider-Man: No Way Home and many others on its platform. It recently launched a deal with VIZIO in the United States, making Starz available to millions of VIZIO Smart TV users.
It also entered into a bundling deal with Disney in Latin America on the heels of recent partnerships with Canal Plus in France and Viaplay in the Nordic territories.
It also has long-term agreements with prominent Hollywood studios including Paramount, Warner Bros and Miramax, among others. These agreements further expand Starz’s library and ensure constant availability of content, thereby driving Lionsgate’s growth prospects.
What Lies Ahead for Lions Gate Entertainment?
However, the top and the bottom lines of Starz Network, as a segment of Lionsgate, showed a decline in first-quarter fiscal 2023. The revenues for the quarter were $381.2 million compared with $382.3 million of the previous year. It also booked a loss of $37 million in the quarter against the previous-year quarter’s profit of $88.2 million.
The profitability has been hurt due to the rising cost of production, and increasing investments in content, marketing and partnerships. Lionsgate is also in talks to spin off Starz, which might further affect profitability.
The shares of Lions Gate Entertainment, which has a Zacks Rank #3 (Hold), have declined 52.2% year to date compared with the Zacks Consumer Discretionary Sector, which declined 40.7% in the same time frame.
The Starz content that is available on cable operators and satellite televisions, faces a significant threat from the ongoing cord-cutting. Along with this, competition from Netflix NFLX, Disney DIS and Apple AAPL does not bode well for the company.
Netflix has been losing subscribers for quite some time now. It lost nearly 970,000 paid subscribers in second-quarter 2022. However, Netflix is set to bring a cheaper ad-supported tier to attract new users and expects to add a million subscribers by the next quarter.
Disney is also expanding into international markets. Disney+, as of Jul 2, 2022, had 152.1 million paid subscribers compared with 116 million as of Jul 3, 2021. It is also following the footsteps of Netflix as it is about to launch an ad-supported tier from Dec 8, 2022.
Apple’s streaming service, Apple TV+, is gaining recognition with the second season of Ted Lasso. It also won seven Emmy Awards this year. Apple TV+, at a much affordable rate of $4.99, is benefiting from quality content with its strong portfolio of original shows and movies.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Lions Gate Entertainment Corp. (LGF.A): 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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Along with this, competition from Netflix NFLX, Disney DIS and Apple AAPL does not bode well for the company. Apple Inc. (AAPL): Free Stock Analysis Report Though Lions Gate retains its Starz brand in the United States and Canada along with Starzplay Arabia and south and southeast Asia's Lionsgate Play.
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Along with this, competition from Netflix NFLX, Disney DIS and Apple AAPL does not bode well for the company. Apple Inc. (AAPL): Free Stock Analysis Report Strong Portfolio of Movies & Shows to Boost Subscriber Growth Lionsgate benefits from the strong library of films and television titles that Starz has.
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Along with this, competition from Netflix NFLX, Disney DIS and Apple AAPL does not bode well for the company. Apple Inc. (AAPL): Free Stock Analysis Report Lions Gate Entertainment Corp. Price and Consensus Lions Gate Entertainment Corp. price-consensus-chart | Lions Gate Entertainment Corp. Quote Starz has also signed an agreement with Sony that allows the former to air Sony’s popular films like Venom and Spider-Man: No Way Home and many others on its platform.
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Along with this, competition from Netflix NFLX, Disney DIS and Apple AAPL does not bode well for the company. Apple Inc. (AAPL): Free Stock Analysis Report The company targets 50-60 million global subscribers by 2025.
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19106.0
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2022-09-29 00:00:00 UTC
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Thursday's ETF with Unusual Volume: VONG
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The Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Thursday, with over 10.2 million shares traded versus three month average volume of about 828,000. Shares of VONG were off about 2.7% on the day.
Components of that ETF with the highest volume on Thursday were Apple, trading down about 4.9% with over 71.6 million shares changing hands so far this session, and Advanced Micro Devices, off about 6.5% on volume of over 58.5 million shares. Renaissancere Holdings is the component faring the best Thursday, higher by about 3.7% on the day, while Carmax is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 23.6%.
VIDEO: Thursday's ETF with Unusual Volume: VONG
The views and 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 Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Thursday, with over 10.2 million shares traded versus three month average volume of about 828,000. Components of that ETF with the highest volume on Thursday were Apple, trading down about 4.9% with over 71.6 million shares changing hands so far this session, and Advanced Micro Devices, off about 6.5% on volume of over 58.5 million shares. Renaissancere Holdings is the component faring the best Thursday, higher by about 3.7% on the day, while Carmax is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 23.6%.
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The Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Thursday, with over 10.2 million shares traded versus three month average volume of about 828,000. Renaissancere Holdings is the component faring the best Thursday, higher by about 3.7% on the day, while Carmax is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 23.6%. VIDEO: Thursday's ETF with Unusual Volume: VONG The views and 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 Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Thursday, with over 10.2 million shares traded versus three month average volume of about 828,000. Components of that ETF with the highest volume on Thursday were Apple, trading down about 4.9% with over 71.6 million shares changing hands so far this session, and Advanced Micro Devices, off about 6.5% on volume of over 58.5 million shares. Renaissancere Holdings is the component faring the best Thursday, higher by about 3.7% on the day, while Carmax is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 23.6%.
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The Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Thursday, with over 10.2 million shares traded versus three month average volume of about 828,000. Renaissancere Holdings is the component faring the best Thursday, higher by about 3.7% on the day, while Carmax is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 23.6%. VIDEO: Thursday's ETF with Unusual Volume: VONG The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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19107.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street skids as investors fret about U.S. economic downturn
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By Noel Randewich and Ankika Biswas
Sept 29 (Reuters) - Wall Street tumbled on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets.
With tech-related heavyweights Tesla TSLA.O, Apple AAPL.O and Nvidia NVDA.O slumping 5% or more, the Nasdaq .IXIC was near its lowest closing level of 2022, set in mid-June.
The S&P 500 .SPX was on track for its lowest close since November 2020. It has lost 8% in September.
A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation. US/
Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%.
Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
"Good news is bad news in that today's job number again reiterates that the Fed has a long way to go," said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. "The fear in the marketplace is that the Fed is going to push us into a very deep recession, which will cause an earnings recession, which is why the market is selling off."
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
In afternoon trading, the Dow Jones Industrial Average .DJI was down 2.17% at 29,041.04 points, while the S&P 500 .SPX lost 2.72% to 3,617.89.
The Nasdaq Composite .IXIC dropped 3.62% to 10,651.56.
All of the 11 S&P 500 sector indexes dropped, with consumer discretionary .SPLRCD tumbling 4% as automobile stocks slumped.
CarMax Inc KMX.N slumped over 20% after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.
General Motors Co GM.N and Ford Motor Co F.N also took a hit, each dropping more than 6%.
Airline carriers and cruise operators fell on canceled or delayed trips after Hurricane Ian hit Florida's Gulf Coast with catastrophic force.
American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each fell more than 4%.
Cruise ship companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 6.4% and 7.8%, respectively.
Declining issues outnumbered advancing ones on the NYSE by a 7.64-to-1 ratio; on Nasdaq, a 4.12-to-1 ratio favored decliners.
The S&P 500 posted no new 52-week highs and 100 new lows; the Nasdaq Composite recorded six new highs and 447 new lows.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh; Editing by Anil D'Silva, Arun Koyyur and Jonathan Oatis)
((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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With tech-related heavyweights Tesla TSLA.O, Apple AAPL.O and Nvidia NVDA.O slumping 5% or more, the Nasdaq .IXIC was near its lowest closing level of 2022, set in mid-June. By Noel Randewich and Ankika Biswas Sept 29 (Reuters) - Wall Street tumbled on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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With tech-related heavyweights Tesla TSLA.O, Apple AAPL.O and Nvidia NVDA.O slumping 5% or more, the Nasdaq .IXIC was near its lowest closing level of 2022, set in mid-June. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes. The Nasdaq Composite .IXIC dropped 3.62% to 10,651.56.
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With tech-related heavyweights Tesla TSLA.O, Apple AAPL.O and Nvidia NVDA.O slumping 5% or more, the Nasdaq .IXIC was near its lowest closing level of 2022, set in mid-June. US/ Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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With tech-related heavyweights Tesla TSLA.O, Apple AAPL.O and Nvidia NVDA.O slumping 5% or more, the Nasdaq .IXIC was near its lowest closing level of 2022, set in mid-June. A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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19108.0
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2022-09-29 00:00:00 UTC
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Micron forecasts first-quarter revenue below estimates as demand worsens
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https://www.nasdaq.com/articles/micron-forecasts-first-quarter-revenue-below-estimates-as-demand-worsens
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By Chavi Mehta and Jane Lanhee Lee
Sept 29 (Reuters) - Memory chipmaker Micron Technology MU.O forecast first-quarter revenue below Wall Street estimates on Thursday as demand from its key end markets including PCs and smartphones worsen amid rising worries about an economic downturn.
To cope with the tougher market conditions, Micron also said it would cut its investments.
“We are taking decisive steps to reduce our supply growth including a nearly 50% wafer fab equipment capex cut versus last year," said Chief Executive Sanjay Mehrotra in its earnings statement.
Shares of the Boise, Idaho-based company, which have roughly declined 45% so far this year on fears of a further slowdown in demand for semiconductors, fell 2.4% in extended trading. Chip equipment maker Applied MaterialsInc AMAT.O also dropped 2% in after hours on the news.
Micron was the first to sound a severe warning bell for the entire semiconductor industry during its third quarter earnings report late June.
Since then, the situation has only worsened with the weakness seeping from consumer electronics to end markets such as data centers and cloud as a global economic slowdown caused by red-hot inflation, rising interest rates, geopolitical tensions and COVID-19 lockdowns in China has led businesses and consumers alike to rein in expenses.
Spiraling demand had led to inventory build ups, which in turn has forced companies to drive down the prices of chips. Research firm TrendForce forecast a 13% to 18% drop in DRAM chips pricing, which makes over 70% of Micron's revenue, while also forecasting a 15% to 20% drop in NAND memory pricing for the last three months of 2022.
The company forecast adjusted current-quarter revenue to be $4.25 billion, plus or minus $250 million. Analysts on average expected revenue to be $5.62 billion, according Refinitiv data.
Adjusted revenue for the quarter ended Sept. 1 was $6.64 billion. Analysts on average expected revenue to be $6.68 billion.
(Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee; Editing by Krishna Chandra Eluri and Marguerita Choy)
((Chavi.Mehta@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Chavi Mehta and Jane Lanhee Lee Sept 29 (Reuters) - Memory chipmaker Micron Technology MU.O forecast first-quarter revenue below Wall Street estimates on Thursday as demand from its key end markets including PCs and smartphones worsen amid rising worries about an economic downturn. “We are taking decisive steps to reduce our supply growth including a nearly 50% wafer fab equipment capex cut versus last year," said Chief Executive Sanjay Mehrotra in its earnings statement. Shares of the Boise, Idaho-based company, which have roughly declined 45% so far this year on fears of a further slowdown in demand for semiconductors, fell 2.4% in extended trading.
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By Chavi Mehta and Jane Lanhee Lee Sept 29 (Reuters) - Memory chipmaker Micron Technology MU.O forecast first-quarter revenue below Wall Street estimates on Thursday as demand from its key end markets including PCs and smartphones worsen amid rising worries about an economic downturn. Analysts on average expected revenue to be $5.62 billion, according Refinitiv data. (Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee; Editing by Krishna Chandra Eluri and Marguerita Choy) ((Chavi.Mehta@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Chavi Mehta and Jane Lanhee Lee Sept 29 (Reuters) - Memory chipmaker Micron Technology MU.O forecast first-quarter revenue below Wall Street estimates on Thursday as demand from its key end markets including PCs and smartphones worsen amid rising worries about an economic downturn. Since then, the situation has only worsened with the weakness seeping from consumer electronics to end markets such as data centers and cloud as a global economic slowdown caused by red-hot inflation, rising interest rates, geopolitical tensions and COVID-19 lockdowns in China has led businesses and consumers alike to rein in expenses. Research firm TrendForce forecast a 13% to 18% drop in DRAM chips pricing, which makes over 70% of Micron's revenue, while also forecasting a 15% to 20% drop in NAND memory pricing for the last three months of 2022.
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By Chavi Mehta and Jane Lanhee Lee Sept 29 (Reuters) - Memory chipmaker Micron Technology MU.O forecast first-quarter revenue below Wall Street estimates on Thursday as demand from its key end markets including PCs and smartphones worsen amid rising worries about an economic downturn. Research firm TrendForce forecast a 13% to 18% drop in DRAM chips pricing, which makes over 70% of Micron's revenue, while also forecasting a 15% to 20% drop in NAND memory pricing for the last three months of 2022. Adjusted revenue for the quarter ended Sept. 1 was $6.64 billion.
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19109.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street ends down sharply; investors fret over economy
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By Noel Randewich and Ankika Biswas
Sept 29 (Reuters) - Wall Street ended sharply lower on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets.
With tech heavyweights Apple Inc AAPL.O and Nvidia Corp NVDA.O slumping more than 4%, the Nasdaq sank to near its lowest level of 2022, set in mid-June.
The S&P 500 .SPX touched lows last seen in November 2020. Down more than 8% in September, the benchmark is on track for its worst September since 2008.
A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation. US/
Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%.
Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
"Good news is bad news in that today's job number again reiterates that the Fed has a long way to go," said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. "The fear in the marketplace is that the Fed is going to push us into a very deep recession, which will cause an earnings recession, which is why the market is selling off."
The most traded stock in the S&P 500 was Tesla Inc TSLA.O, with $20.8 billion worth of shares exchanged during the session. The shares declined 6.8%.
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
The S&P 500 dropped 2.11% to end the session at 3,640.47 points.
The Nasdaq declined 2.84% to 10,737.51 points, while the Dow Jones Industrial Average declined 1.54% to 29,225.61 points.
Volume on U.S. exchanges was relatively heavy, with 11.6 billion shares traded, compared with an average of 11.4 billion shares over the previous 20 sessions.
All 11 S&P 500 sector indexes declined, led lower by utilities .SPLRCU, down 4.06%, followed by a 3.37% loss in consumer discretionary .SPLRCD.
Declining stocks outnumbered rising ones within the S&P 500 .AD.SPX by an 11.6-to-1 ratio.
Meta Platforms META.O ended down 3.7% after Bloomberg reported the Facebook owner froze hiring and warned employees of more downsizing to come.
CarMax Inc KMX.N slumped nearly 25% after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.
General Motors Co GM.N and Ford Motor Co F.N fell more than 5% each.
Airline carriers and cruise operators fell on canceled or delayed trips after Hurricane Ian hit Florida's Gulf Coast with catastrophic force.
American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost more than 2%.
Cruise ship operators Norwegian Cruise Line Holdings Ltd NCLH.N dropped 5.3% and Carnival Corp CCL.N fell 6.8%.
The S&P 500 posted no new highs and 106 new lows; the Nasdaq recorded 14 new highs and 518 new lows.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh; Editing by Anil D'Silva, Arun Koyyur and Jonathan Oatis)
((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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With tech heavyweights Apple Inc AAPL.O and Nvidia Corp NVDA.O slumping more than 4%, the Nasdaq sank to near its lowest level of 2022, set in mid-June. By Noel Randewich and Ankika Biswas Sept 29 (Reuters) - Wall Street ended sharply lower on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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With tech heavyweights Apple Inc AAPL.O and Nvidia Corp NVDA.O slumping more than 4%, the Nasdaq sank to near its lowest level of 2022, set in mid-June. US/ Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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With tech heavyweights Apple Inc AAPL.O and Nvidia Corp NVDA.O slumping more than 4%, the Nasdaq sank to near its lowest level of 2022, set in mid-June. US/ Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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With tech heavyweights Apple Inc AAPL.O and Nvidia Corp NVDA.O slumping more than 4%, the Nasdaq sank to near its lowest level of 2022, set in mid-June. A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation. The shares declined 6.8%.
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19110.0
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2022-09-29 00:00:00 UTC
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EXCLUSIVE-Senior Indonesian officials targeted by spyware last year – sources
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By Fanny Potkin, Tom Allard, Kate Lamb and Christopher Bing
Sept 30 (Reuters) - More than a dozen senior Indonesian government and military officials were targeted last year with spy software designed by an Israeli surveillance firm, according to nine people with knowledge of the matter.
Six of the individuals told Reuters they were targeted themselves.
The targets included Chief Economic Minister Airlangga Hartarto, senior military personnel, two regional diplomats, and advisers in Indonesia's defence and foreign affairs ministries, according to the people.
Six of the Indonesian officials and advisers targeted told Reuters they received an email message from Apple Inc AAPL.O in November 2021 telling them that Apple believed officials were being "targeted by state-sponsored attackers."
Apple has not disclosed the identities or number of users targeted. The company declined to comment for this story.
Apple and security researchers have said the recipients of the warnings were targeted using ForcedEntry, an advanced piece of software that has been used by Israeli cyber surveillance vendor NSO Group to help foreign spy agencies remotely and invisibly take control of iPhones. Another Israeli cyber firm, QuaDream, has developed a nearly identical hacking tool, Reuters has reported.
Reuters was unable to determine who made or used the spyware to target the Indonesian officials, whether the attempts were successful, and, if so, what the hackers might have obtained as a result.
The attempt to target Indonesian officials, which has not previously been reported, is one of the biggest cases yet seen of the software being used against government, military and defence ministry personnel, according to cybersecurity experts.
Spokespeople for the Indonesian government, the Indonesian military, the Indonesian Defence Ministry and the Indonesian Cyber and Crypto Agency (BSSN) did not respond to requests for comments and emailed questions.
A spokesman for the Foreign Affairs Ministry said they were unaware of the case and referred Reuters to BSSN.
Airlangga Hartarto, a top ally of the Indonesian president Joko Widodo, did not respond to questions sent to him by Reuters, nor did his representatives.
The use of ForcedEntry, which exploits a flaw in iPhones through a new hacking technique that requires no user interactions, was made public by cybersecurity watchdog Citizen Lab in September 2021. Google security researchers described it as the "most technically sophisticated" hacking attack they had ever seen, in a company blog post published in December.
Apple patched the vulnerability in September last year and in November started sending notification messages to what it called a "small number of users that it discovered may have been targeted."
In response to Reuters questions, an NSO spokesperson denied the company’s software was involved in the targeting of Indonesian officials, dismissing it as "contractually and technologically impossible," without specifying why. The company, which does not disclose the identity of its customers, says it sells its products only to "vetted and legitimate" government entities.
QuaDream did not respond to requests for comment.
In addition to the six officials and advisers who told Reuters they were targeted, a director at a state-owned Indonesian firm that provides weapons to the Indonesian army got the same message from Apple, according to two people with knowledge of the matter. The people asked not to be identified due to the sensitivity of the matter. The company director did not respond to requests for comment.
Within weeks of Apple's notification in November last year, the U.S. government added NSO to the Department of Commerce's 'entity list,' which makes it harder for U.S. companies to do business with it, after determining that the firm's phone-hacking technology had been used by foreign governments to "maliciously target" political dissidents around the world.
(Reporting by Fanny Potkin in Singapore, Tom Allard in Jakarta, Kate Lamb in Sydney and Christopher Bing in Washington Editing by Bill Rigby)
((Fanny.Potkin@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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Six of the Indonesian officials and advisers targeted told Reuters they received an email message from Apple Inc AAPL.O in November 2021 telling them that Apple believed officials were being "targeted by state-sponsored attackers." By Fanny Potkin, Tom Allard, Kate Lamb and Christopher Bing Sept 30 (Reuters) - More than a dozen senior Indonesian government and military officials were targeted last year with spy software designed by an Israeli surveillance firm, according to nine people with knowledge of the matter. The targets included Chief Economic Minister Airlangga Hartarto, senior military personnel, two regional diplomats, and advisers in Indonesia's defence and foreign affairs ministries, according to the people.
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Six of the Indonesian officials and advisers targeted told Reuters they received an email message from Apple Inc AAPL.O in November 2021 telling them that Apple believed officials were being "targeted by state-sponsored attackers." By Fanny Potkin, Tom Allard, Kate Lamb and Christopher Bing Sept 30 (Reuters) - More than a dozen senior Indonesian government and military officials were targeted last year with spy software designed by an Israeli surveillance firm, according to nine people with knowledge of the matter. Spokespeople for the Indonesian government, the Indonesian military, the Indonesian Defence Ministry and the Indonesian Cyber and Crypto Agency (BSSN) did not respond to requests for comments and emailed questions.
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Six of the Indonesian officials and advisers targeted told Reuters they received an email message from Apple Inc AAPL.O in November 2021 telling them that Apple believed officials were being "targeted by state-sponsored attackers." By Fanny Potkin, Tom Allard, Kate Lamb and Christopher Bing Sept 30 (Reuters) - More than a dozen senior Indonesian government and military officials were targeted last year with spy software designed by an Israeli surveillance firm, according to nine people with knowledge of the matter. Spokespeople for the Indonesian government, the Indonesian military, the Indonesian Defence Ministry and the Indonesian Cyber and Crypto Agency (BSSN) did not respond to requests for comments and emailed questions.
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Six of the Indonesian officials and advisers targeted told Reuters they received an email message from Apple Inc AAPL.O in November 2021 telling them that Apple believed officials were being "targeted by state-sponsored attackers." By Fanny Potkin, Tom Allard, Kate Lamb and Christopher Bing Sept 30 (Reuters) - More than a dozen senior Indonesian government and military officials were targeted last year with spy software designed by an Israeli surveillance firm, according to nine people with knowledge of the matter. Spokespeople for the Indonesian government, the Indonesian military, the Indonesian Defence Ministry and the Indonesian Cyber and Crypto Agency (BSSN) did not respond to requests for comments and emailed questions.
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2022-09-29 00:00:00 UTC
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GLOBAL MARKETS-'Pick-your-poison': Wall Street sell-off resumes
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https://www.nasdaq.com/articles/global-markets-pick-your-poison%3A-wall-street-sell-off-resumes
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nan
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nan
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By Lawrence Delevingne
Sept 29 (Reuters) - Investors added another cycle of selling on Thursday as the dollar barely eased its stranglehold on currency markets, recession fears sapped stocks and bonds suffered more interest rate pain.
After a partial rebound on Wednesday, U.S. stocks fell sharply. The Dow Jones Industrial Average .DJI fell 1.5%, the S&P 500 .SPX lost 2.1% to a new low for 2022, and the Nasdaq Composite .IXIC dropped 2.8%, weighed down by big technology names such as Apple Inc AAPL.O and Amazon.com Inc AMZN.O. .N
European stocks also suffered. The STOXX 600 share index .STOXX was down 1.67%, even as the euro EUR= and the pound GBP=, hammered over the last week by UK debt concerns, recovered some ground, gaining 0.6% and 1.7%, respectively. .EU/FRX
China currency intervention talk was gathering momentum too, while Europe's government bond markets were braced for the highest German inflation reading since the 1950s.
Gilt selling also resumed a day after the Bank of England had dramatically intervened to try and quell the storm surrounding the British government's new spending plans. GVD/EUR
"It's a pick-your-poison collection of bad news for investors," Sean Sun, portfolio manager at Thornburg Investment Management in Santa Fe, New Mexico, said in an email.
"From strong jobs data pushing the Fed to be more hawkish to the turmoil in the entire UK stock and bond markets to China intervening to prop up the yuan, with increasing geopolitical issues investors are left few places to hang their hats."
UK SEEKS STABILITY
The UK 10-year gilt yield, which drives Britain's borrowing costs, rose about 8 basis points (bps) to 4.214% after falling almost 50 bps the day before due to the BoE's sudden intervention, although the 30-year yield being targeted by the central bank was little changed at 3.96%. GB10YT=RRGB30YT=RR
Agnes Belaisch, Barings Investment Institute's chief European strategist, said "the market wouldn't mind some stability," as "it has become a little bit unpredictable."
She said investors were now seeing "incoherence" in Britain with government spending as the Bank of England tries to rein in inflation, while everywhere else the focus is on how high central banks are prepared to go with interest rates.
British Prime Minister Liz Truss defended her new economic program that has sent sterling to a record low this week and left the UK's borrowing costs close to Greece's - saying it was designed to tackle the difficult situation Britain was now in.
"We are facing difficult economic times," Truss, who only took over as prime minister this month, said on local BBC radio. "I don't deny this. This is a global problem. But what is absolutely right is the UK government has stepped in and acted."
The CBOE VIX Index .VIX, a measure of Wall Street's volatility expectations, jumped 6.5%, although still off levels earlier in the week.
GETTING INFLATION IN CHECK
Zooming back out, it was still about the dollar which has crushed currencies virtually everywhere this year, as well as the impact of Russia's invasion of Ukraine.
Speaking with reporters in London on Wednesday, veteran Federal Reserve policymaker Charles Evans gave no indication that any of the recent foreign exchange and bond market drama would blow the U.S. central bank off its rate hike course.
"We just really need to get inflation in check," Evans said, backing lifting the Fed's rates - now at 3% to 3.25% - to a range of 4.5% to 4.75% by the end of the year or March.
Federal Reserve Bank of Cleveland President Loretta Mester echoed that on Thursday, saying she did not see distress in U.S. financial markets that would alter the Fed's campaign.
Such comments helped push the yield on U.S. government bonds.The yield on 10-year Treasury notes US10YT=RR was up 6.5 basis points to 3.772%; 30-year Treasury bonds US30YT=RR rose 2.9 basis points to 3.710%.
Thursday's currency moves saw the U.S. dollar index =DXY, which measures the currency against its peers, hang around its recent 20-year high again, down about 0.4%, having had its worst session in 2-1/2 years on Wednesday. /FRX
"Despite substantial appreciation year-to-date, we see little pressure for policymakers to respond to dollar strength for now," Morgan Stanley strategists wrote in a note released Thursday.
"Trade-weighted dollar strength is not excessive, in sync with broadly tighter financial conditions and in line with Fed objectives, though inflation benefits are small."
Overnight, China's yuan had fallen again too, although it stayed just off recent post-financial crisis lows, as China's central bank said stabilising the foreign exchange market was its top priority and on reports of potential FX intervention too. CNY=CFXSCNY/
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS ended the day virtually flat, although Japan's Nikkei .N225 did manage a near 1% rise. .T
Weekly jobless claims data bucked expectations with an unexpected fall showing how tight the U.S. labour market remains. U.S. GDP fell at an unrevised 0.6% annualised rate last quarter, the government said in its third estimate of GDP. The economy contracted at a 1.6% rate in the first quarter.
Oil prices were ticked down, still weighed on by the stronger dollar and weak economic outlook, even as OPEC+ have begun discussions about an oil output cut.
U.S. crude CLc1 fell 1.1% to settle at $81.23 per barrel and Brent LCOc1 ended at $88.49, down 0.9% on the day.
Goldman Sachs cut its 2023 oil price forecast earlier this week, citing expectations of weaker demand and a stronger U.S. dollar, but said global supply issues reinforced its long-term view that prices could rise again.
The strong dollar also helped keep gold prices down, with looming rate hikes also a headwind. Spot gold XAU= added 0.1% to $1,660.24 an ounce. U.S. gold futures GCc1 fell 0.02% to $1,660.00
World FX rates YTDhttp://tmsnrt.rs/2egbfVh
Global asset performancehttp://tmsnrt.rs/2yaDPgn
UK 30-year bond yields see record moves after BoE interventionhttps://tmsnrt.rs/3SpruhI
Major currencies vs. the dollarhttps://tmsnrt.rs/3UIn1s1
(Reporting by Lawrence Delevingne in Boston and Marc Jones in London; Editing by Andrew Heavens, Jonathan Oatis and Marguerita Choy)
((lawrence.delevingne@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 Dow Jones Industrial Average .DJI fell 1.5%, the S&P 500 .SPX lost 2.1% to a new low for 2022, and the Nasdaq Composite .IXIC dropped 2.8%, weighed down by big technology names such as Apple Inc AAPL.O and Amazon.com Inc AMZN.O. By Lawrence Delevingne Sept 29 (Reuters) - Investors added another cycle of selling on Thursday as the dollar barely eased its stranglehold on currency markets, recession fears sapped stocks and bonds suffered more interest rate pain. "From strong jobs data pushing the Fed to be more hawkish to the turmoil in the entire UK stock and bond markets to China intervening to prop up the yuan, with increasing geopolitical issues investors are left few places to hang their hats."
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The Dow Jones Industrial Average .DJI fell 1.5%, the S&P 500 .SPX lost 2.1% to a new low for 2022, and the Nasdaq Composite .IXIC dropped 2.8%, weighed down by big technology names such as Apple Inc AAPL.O and Amazon.com Inc AMZN.O. The UK 10-year gilt yield, which drives Britain's borrowing costs, rose about 8 basis points (bps) to 4.214% after falling almost 50 bps the day before due to the BoE's sudden intervention, although the 30-year yield being targeted by the central bank was little changed at 3.96%. Such comments helped push the yield on U.S. government bonds.The yield on 10-year Treasury notes US10YT=RR was up 6.5 basis points to 3.772%; 30-year Treasury bonds US30YT=RR rose 2.9 basis points to 3.710%.
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The Dow Jones Industrial Average .DJI fell 1.5%, the S&P 500 .SPX lost 2.1% to a new low for 2022, and the Nasdaq Composite .IXIC dropped 2.8%, weighed down by big technology names such as Apple Inc AAPL.O and Amazon.com Inc AMZN.O. By Lawrence Delevingne Sept 29 (Reuters) - Investors added another cycle of selling on Thursday as the dollar barely eased its stranglehold on currency markets, recession fears sapped stocks and bonds suffered more interest rate pain. Speaking with reporters in London on Wednesday, veteran Federal Reserve policymaker Charles Evans gave no indication that any of the recent foreign exchange and bond market drama would blow the U.S. central bank off its rate hike course.
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The Dow Jones Industrial Average .DJI fell 1.5%, the S&P 500 .SPX lost 2.1% to a new low for 2022, and the Nasdaq Composite .IXIC dropped 2.8%, weighed down by big technology names such as Apple Inc AAPL.O and Amazon.com Inc AMZN.O. The UK 10-year gilt yield, which drives Britain's borrowing costs, rose about 8 basis points (bps) to 4.214% after falling almost 50 bps the day before due to the BoE's sudden intervention, although the 30-year yield being targeted by the central bank was little changed at 3.96%. Overnight, China's yuan had fallen again too, although it stayed just off recent post-financial crisis lows, as China's central bank said stabilising the foreign exchange market was its top priority and on reports of potential FX intervention too.
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19112.0
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2022-09-29 00:00:00 UTC
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Why Skyworks Solutions Stock Tumbled on Thursday
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AAPL
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https://www.nasdaq.com/articles/why-skyworks-solutions-stock-tumbled-on-thursday
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nan
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nan
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What happened
Even by the awful standards of Thursday's market, Skyworks Solutions (NASDAQ: SWKS) was a dog of a stock. The specialty tech company's share price suffered a nearly 4% decline, nearly double the 2.1% drop of the S&P 500 index on the day. The direct reason was a discouraging development with the company's most important business partner.
So what
It's only a slight exaggeration to say that when tech titan Apple (NASDAQ: AAPL) sneezes, Skyworks catches a cold. Apple is a major customer for Skyworks' radiofrequency (RF) solutions, which it packs into its ever-popular line of mobile devices. These days, Apple is responsible for a whopping 55% of its supplier's total revenue.
So it's understandable that news concerning such devices affects Skyworks too, and that was the case on Thursday. That morning, Bank of America analyst Wamsi Mohan downgraded the stock to neutral from his previous tag of buy. It's rare when Apple stock gets a downgrade, particularly from such a prominent financial institution.
Mohan's move comes on the heels of a very impactful article in Bloomberg, which was initially published after market hours on Tuesday. Citing "people familiar with the matter," thefinancial newsagency said that Apple is retreating from its plans to bump up production of the new iPhone 14 "after demand failed to materialize."
Now what
Any pronounced downward shift in production would be clearly and obviously detrimental to Skyworks. Although the company's fortunes aren't entirely tied to the those of the King of Cupertino, Apple is an essential customer at the moment and what it does matters. Skyworks investors should keep a sharp eye on how, and if, this story develops.
10 stocks we like better than Skyworks Solutions
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They just revealed what they believe are the ten best stocks for investors to buy right now… and Skyworks Solutions 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 August 17, 2022
Bank of America is an advertising partner of The Ascent, a Motley Fool company. Eric Volkman has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends Skyworks Solutions 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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So what It's only a slight exaggeration to say that when tech titan Apple (NASDAQ: AAPL) sneezes, Skyworks catches a cold. Apple is a major customer for Skyworks' radiofrequency (RF) solutions, which it packs into its ever-popular line of mobile devices. That morning, Bank of America analyst Wamsi Mohan downgraded the stock to neutral from his previous tag of buy.
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So what It's only a slight exaggeration to say that when tech titan Apple (NASDAQ: AAPL) sneezes, Skyworks catches a cold. What happened Even by the awful standards of Thursday's market, Skyworks Solutions (NASDAQ: SWKS) was a dog of a stock. That morning, Bank of America analyst Wamsi Mohan downgraded the stock to neutral from his previous tag of buy.
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So what It's only a slight exaggeration to say that when tech titan Apple (NASDAQ: AAPL) sneezes, Skyworks catches a cold. 10 stocks we like better than Skyworks Solutions When our award-winning analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of August 17, 2022 Bank of America is an advertising partner of The Ascent, a Motley Fool company.
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So what It's only a slight exaggeration to say that when tech titan Apple (NASDAQ: AAPL) sneezes, Skyworks catches a cold. * They just revealed what they believe are the ten best stocks for investors to buy right now… and Skyworks Solutions wasn't one of them! See the 10 stocks *Stock Advisor returns as of August 17, 2022 Bank of America is an advertising partner of The Ascent, a Motley Fool company.
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19113.0
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2022-09-29 00:00:00 UTC
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Review: U.S.-China tech fight leaves global losers
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AAPL
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https://www.nasdaq.com/articles/review%3A-u.s.-china-tech-fight-leaves-global-losers
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nan
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nan
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Reuters
Reuters
HONG KONG (Reuters Breakingviews) - No product has played such an outsized role in shaping the global economy and the balance of military power as semiconductors. Yet for years the $556 billion industry attracted scant attention from governments in Washington, Tokyo and other capitals in the developed world. Recently chips have become a battleground in the competition between the United States and China. Big companies and other countries will suffer from the fight.
Few other parts of the economy are so dependent on so few companies, historian Chris Miller asserts in "Chip War: The Fight for the World's Most Critical Technology". Taiwan Semiconductor Manufacturing (TSMC) makes nearly all of the world's most advanced microprocessors. ASML in the Netherlands has a de facto monopoly on the ultraviolet lithography machines required to make the most sophisticated circuits. Two South Korean giants dominate the market for memory chips; three U.S.-based firms control semiconductor software.
These so-called choke points are a feature of a hyper-efficient industry that can churn out over a trillion units a year. According to Miller, a professor of U.S. and Russian foreign policy, it’s no accident that the United States and its allies control most of them. After the Second World War, pioneering companies like Fairchild Semiconductor, Intel and others in Silicon Valley cemented America's technological supremacy.
A subsequent push to outsource U.S. manufacturing abroad coincided with American efforts to deepen trade and investment links with Japan and the rest of Asia. Cheap and plentiful labour allowed companies to lower their costs; Asian leaders touted better-paying jobs and economic growth; and Washington integrated its allies deeper into the U.S. economy. By the late 1970s, companies like Intel and Texas Instruments employed tens of thousands of workers in South Korea, Taiwan and Southeast Asia.
Over time, though, some Asian manufacturers amassed enough expertise and scale across the supply chain to challenge America’s dominance. Japan first overtook the U.S. in memory chip production in the 1980s, only to be toppled by South Korea; Taiwan today boasts not only the world’s top contract chipmaker, but also the top companies that assemble, test and package chips.
Andy Grove, Intel's former boss, presciently warned that abandoning “commodity” manufacturing could lock manufacturers out of future emerging industries. Now the erstwhile U.S. pioneer is struggling to catch up with the $356 billion TSMC and South Korea's Samsung Electronics in chip fabrication. Meanwhile, natural disasters and the Covid-19 pandemic have exposed a fragile global supply chain which Miller describes as "a perfect image of globalization gone wrong".
The combination of weakening chip leadership and a heightened awareness of supply chain vulnerabilities underpins American tech policies. The recent CHIPS and Science Act provides $53 billion to bring semiconductor development and manufacturing back to the United States. The People’s Republic, meanwhile, has long identified America’s chokehold on supply chains as a national security threat and is spending hundreds of billions of dollars to wean itself off foreign technology. U.S. sanctions against telecoms-equipment maker Huawei have accelerated these efforts in a reminder, Miller writes, that choke points are "not infinitely durable". In response, Washington has ramped up trade and investment restrictions: earlier this month it banned AMD and Nvidia from exporting some advanced artificial intelligence chips to China.
This intensifying rivalry puts Taiwan, South Korea and Japan in an awkward position. All three depend on China as their largest trading partner. But if the United States is successful in reshoring advanced chipmaking, one or all of its allies' market shares must decrease, Miller argues. Multinational giants with exposure to China will be caught in the middle too. Nvidia estimates some $400 million of sales are at risk. Apple's mooted plans to use Chinese-made chips have attracted scrutiny from Washington.
For South Korea's Samsung and SK Hynix, the dilemma is even starker. Both are hoping to expand in the United States, but a provision in the CHIPS Act states that to receive U.S. subsidies, they will be banned from expanding or upgrading chip capacity in China for 10 years. The two companies currently produce 20% and 40%, respectively, of their memory chips in the People's Republic, according to Nikkei.
Miller lays out even more aggressive tools that Washington and Beijing have yet to deploy. The former might pressure TSMC to roll out its newest technologies simultaneously in the United States and Taiwan, or force it to invest more stateside. China might pressure foreign companies to transfer technologies to local peers, or require companies like Apple to buy local components.
The biggest escalation, of course, would be military conflict between China and Taiwan, which Beijing claims sovereignty over. Incapacitating the island’s semiconductor production facilities would be "catastrophic" for the global economy, Miller writes, as the world would produce 37% less computing power as a result and it would take at least half a decade to rebuild the capacity.
Though this is still an extreme scenario, investors and tech bosses are betting the high stakes will deter Washington and Beijing from ratcheting up tensions. That looks like wishful thinking.
Follow @mak_robyn on Twitter
CONTEXT NEWS
"Chip War: The Fight for the World's Most Critical Technology" by Chris Miller will be published by Simon & Schuster on Oct. 4.
(Editing by Peter Thal Larsen 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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Cheap and plentiful labour allowed companies to lower their costs; Asian leaders touted better-paying jobs and economic growth; and Washington integrated its allies deeper into the U.S. economy. The People’s Republic, meanwhile, has long identified America’s chokehold on supply chains as a national security threat and is spending hundreds of billions of dollars to wean itself off foreign technology. Incapacitating the island’s semiconductor production facilities would be "catastrophic" for the global economy, Miller writes, as the world would produce 37% less computing power as a result and it would take at least half a decade to rebuild the capacity.
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Few other parts of the economy are so dependent on so few companies, historian Chris Miller asserts in "Chip War: The Fight for the World's Most Critical Technology". Taiwan Semiconductor Manufacturing (TSMC) makes nearly all of the world's most advanced microprocessors. China might pressure foreign companies to transfer technologies to local peers, or require companies like Apple to buy local components.
|
Few other parts of the economy are so dependent on so few companies, historian Chris Miller asserts in "Chip War: The Fight for the World's Most Critical Technology". Japan first overtook the U.S. in memory chip production in the 1980s, only to be toppled by South Korea; Taiwan today boasts not only the world’s top contract chipmaker, but also the top companies that assemble, test and package chips. Both are hoping to expand in the United States, but a provision in the CHIPS Act states that to receive U.S. subsidies, they will be banned from expanding or upgrading chip capacity in China for 10 years.
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Recently chips have become a battleground in the competition between the United States and China. Taiwan Semiconductor Manufacturing (TSMC) makes nearly all of the world's most advanced microprocessors. This intensifying rivalry puts Taiwan, South Korea and Japan in an awkward position.
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19114.0
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2022-09-29 00:00:00 UTC
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Shopify (SHOP) Unveils POS Go to Help Retail Merchants
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AAPL
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https://www.nasdaq.com/articles/shopify-shop-unveils-pos-go-to-help-retail-merchants
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nan
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nan
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Shopify SHOP recently introduced Shopify POS Go to provide retail merchants of any size with new AI technology to close sales with customers anywhere. The solution allows merchants to view detailed product information, customer notes and purchase history to level up customers’ in-store experience.
The POS Go by Shopify includes features such as a built-in barcode scanner that lets merchants start checkouts anywhere in the store without lining up at billing counters to provide more hassle-free customer service.
Merchants would be able to seamlessly take payments with tap, swipe and chip cards through built-in, fully integrated card reader. They can also securely receive payments via- Wi-Fi and Shopify Payments.
Shopify’s recent launch of POS Go is to meet the rising demand for point-of-sales software solutions demanded by retail merchants to compete with the e-commerce market. During the second quarter, Shopify benefited from this rising trend as top-tier brands like Beyond Yoga, Our Place and James Perse implemented the company’s point-of-sale Pro solution for their locations.
Shopify Inc. Price and Consensus
Shopify Inc. price-consensus-chart | Shopify Inc. Quote
Shopify Banking on Retail Market Growth to Boost Top Line
Shopify’s e-commerce business boomed during the COVID-19 pandemic as global brands and small stores set up online platforms to sell products due to retail market closures.
However, once the economy opened and retail stores started winning back their lost customers, Shopify lost its momentum. Raging inflation and possible signs of recession aggravated the current market scenario, which slowed down growth in the e-commerce market.
In the second quarter, non-GAAP operating expenses soared 75.7% year over year to $845.9 million, inducing an adjusted operating loss of $41.8 million.
The stock, which currently carries a Zacks Rank #5 (Strong Sell), has plunged 78.8% compared with the Zacks Internet Services industry’s decline of 35.6% in the year-to-date period.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nevertheless, Shopify has been investing heavily in research and development, and sales and marketing to create new platforms and forge strategic alliances with major tech companies to generate new services and address the growing trends in the retail marketing and social media marketing space.
Shopify collaborated with companies like Apple’s AAPL iPhone tap-to-pay feature and the major social media platforms like Twitter TWTR and Meta Platforms’ META Facebook and Instagram.
The recent integration with Apple enables shoppers to use Apple smartphones against the terminal to pay for goods. While this may not be a new feature in retail but Apple’s recent Pay Later installments added a whole new dimension to retail marketing.
The Twitter sales channel allows merchants to connect with consumers directly from their Twitter profiles. SHOP’s integration with Twitter was the very first collaboration with a social media platform, and the company is looking to benefit from the growing trend of influence marketing strategy.
Meta Platforms’ Facebook and Instagram are two of the most popular social media platforms among creators and users alike. Facebook’s short-format videos and reels on Instagram are enjoying increasing popularity among content creators who can create short content, while users spend more than 20% of their time on these social media platforms. Integration with Meta Platforms will help Shopify address the growing trends and help merchants promote and sell their products via Facebook or Instagram at a more reasonable cost.
Although the short-term growth prospects look bleak for SHOP under the current market volatility, the recent solution launch will help it benefit from the re-rise of the retail market. Also, integration with major tech companies will help it generate new revenue sources in the long haul, thus impacting revenue growth positively.
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Apple Inc. (AAPL): Free Stock Analysis Report
Twitter, Inc. (TWTR): Free Stock Analysis Report
Shopify Inc. (SHOP): Free Stock Analysis Report
Meta Platforms, Inc. (META): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shopify collaborated with companies like Apple’s AAPL iPhone tap-to-pay feature and the major social media platforms like Twitter TWTR and Meta Platforms’ META Facebook and Instagram. Apple Inc. (AAPL): Free Stock Analysis Report The POS Go by Shopify includes features such as a built-in barcode scanner that lets merchants start checkouts anywhere in the store without lining up at billing counters to provide more hassle-free customer service.
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Shopify collaborated with companies like Apple’s AAPL iPhone tap-to-pay feature and the major social media platforms like Twitter TWTR and Meta Platforms’ META Facebook and Instagram. Apple Inc. (AAPL): Free Stock Analysis Report Nevertheless, Shopify has been investing heavily in research and development, and sales and marketing to create new platforms and forge strategic alliances with major tech companies to generate new services and address the growing trends in the retail marketing and social media marketing space.
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Shopify collaborated with companies like Apple’s AAPL iPhone tap-to-pay feature and the major social media platforms like Twitter TWTR and Meta Platforms’ META Facebook and Instagram. Apple Inc. (AAPL): Free Stock Analysis Report Shopify Inc. Price and Consensus Shopify Inc. price-consensus-chart | Shopify Inc. Quote Shopify Banking on Retail Market Growth to Boost Top Line Shopify’s e-commerce business boomed during the COVID-19 pandemic as global brands and small stores set up online platforms to sell products due to retail market closures.
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Shopify collaborated with companies like Apple’s AAPL iPhone tap-to-pay feature and the major social media platforms like Twitter TWTR and Meta Platforms’ META Facebook and Instagram. Apple Inc. (AAPL): Free Stock Analysis Report Shopify SHOP recently introduced Shopify POS Go to provide retail merchants of any size with new AI technology to close sales with customers anywhere.
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19115.0
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2022-09-29 00:00:00 UTC
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Apple senior exec leaves iPhone maker after remark in viral video
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AAPL
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https://www.nasdaq.com/articles/apple-senior-exec-leaves-iphone-maker-after-remark-in-viral-video
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nan
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nan
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Attention to language in quote in 3rd paragraph that some readers may find offensive
Sept 29 (Reuters) - Apple Inc's AAPL.O Tony Blevins, a key player in the company's supply chain operations, is leaving the iPhone maker, the company confirmed on Thursday, without providing a reason.
The move comes after a TikTok video of the executive making a crude remark about women went viral. Bloomberg first reported Blevins' departure.
In a video on TikTok published earlier this month, Blevins can be heard saying, "I have rich cars, play golf and fondle big-breasted women, but I take weekends and major holidays off" in response to a question on what he did for a living.
Blevins had been approached by TikTok content creator Daniel Mac at a car show as part of a video series in which Mac asks owners of expensive cars their occupations.
Both Mac and Blevins' companion in a Mercedes sports car were laughing as Blevins spoke off the cuff while exiting the car. Bloomberg reported that Blevins appeared to be referencing a nearly identical line spoken by the main character in the 1981 film "Arthur."
Apple did not comment on the reason for Blevins' departure. Reuters attempts to reach Blevins for comment were unsuccessful. Bloomberg cited a statement from Blevins in which the executive apologized for causing offense with what he called a "mistaken attempt at humor."
Blevins, a vice president at Apple, had an important role in the company's supply chain operations.
His job involved lining up anywhere from two to six suppliers for each of the thousands of components in Apple's products and playing those suppliers off one another to get better prices for Apple. A 2020 profile of Blevins in the Wall Street Journal said he was know inside the iPhone maker as "the Blevinator."
(Reporting by Akash Sriram in Bengaluru and Stephen Nellis in San Francisco; Editing by Leslie Adler and Rosalba O'Brien)
((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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Attention to language in quote in 3rd paragraph that some readers may find offensive Sept 29 (Reuters) - Apple Inc's AAPL.O Tony Blevins, a key player in the company's supply chain operations, is leaving the iPhone maker, the company confirmed on Thursday, without providing a reason. In a video on TikTok published earlier this month, Blevins can be heard saying, "I have rich cars, play golf and fondle big-breasted women, but I take weekends and major holidays off" in response to a question on what he did for a living. Bloomberg reported that Blevins appeared to be referencing a nearly identical line spoken by the main character in the 1981 film "Arthur."
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Attention to language in quote in 3rd paragraph that some readers may find offensive Sept 29 (Reuters) - Apple Inc's AAPL.O Tony Blevins, a key player in the company's supply chain operations, is leaving the iPhone maker, the company confirmed on Thursday, without providing a reason. Bloomberg first reported Blevins' departure. Blevins, a vice president at Apple, had an important role in the company's supply chain operations.
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Attention to language in quote in 3rd paragraph that some readers may find offensive Sept 29 (Reuters) - Apple Inc's AAPL.O Tony Blevins, a key player in the company's supply chain operations, is leaving the iPhone maker, the company confirmed on Thursday, without providing a reason. Blevins had been approached by TikTok content creator Daniel Mac at a car show as part of a video series in which Mac asks owners of expensive cars their occupations. Both Mac and Blevins' companion in a Mercedes sports car were laughing as Blevins spoke off the cuff while exiting the car.
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Attention to language in quote in 3rd paragraph that some readers may find offensive Sept 29 (Reuters) - Apple Inc's AAPL.O Tony Blevins, a key player in the company's supply chain operations, is leaving the iPhone maker, the company confirmed on Thursday, without providing a reason. Bloomberg first reported Blevins' departure. Apple did not comment on the reason for Blevins' departure.
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19116.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street nosedives on mounting economic growth concerns
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-nosedives-on-mounting-economic-growth-concerns
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nan
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nan
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By Ankika Biswas and Shreyashi Sanyal
Sept 29 (Reuters) - Wall Street tumbled on Thursday on worries of a global economic downturn from aggressive central bank policy and fears that a rout in global currency and debt markets could spillover to stocks.
The Nasdaq .IXIC fell 3% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. They were down between 3.09% and 6.25%.
The S&P 500 .SPX slipped to its lowest level since November 30, 2020, and was now set for a monthly decline of nearly 8%.
The benchmark index had recorded its first gain in seven sessions on Wednesday on easing Treasury yields after the Bank of England said it would buy long-dated British bonds to restore financial stability in markets.
However, the relief was short-lived as Sterling fell and bond prices slid on Thursday, with the selloff in assets spilling over to even safe-haven U.S. Treasuries and top-rated German bonds.
The S&P 500 index has lost about $9.1 trillion in market value this year and was last valued at $31.2 trillion, according to Datastream.
"There's so many huge macro issues right now that are just terrifying for equity investors who typically want to look at fundamentals of companies," said David Russell, vice president of Market Intelligence at TradeStation Group.
"So, it's kind of like trying to go outside and do your gardening when there's a hurricane coming."
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
Meanwhile, comments from the Federal Reserve's Cleveland President Loretta Mester echoed other central bank officials through the week, who have vowed more interest rate hikes to tame inflation.
At 12:23 p.m. ET, the Dow Jones Industrial Average .DJI was down 457.43 points, or 1.54%, at 29,226.31, the S&P 500 .SPX was down 79.82 points, or 2.15%, at 3,639.22, and the Nasdaq Composite .IXIC was down 336.57 points, or 3.05%, at 10,715.07.
All of the 11 S&P 500 sector indexes were down between 1% to 3%, with consumer discretionary .SPLRCD leading the slide as automobile stocks slumped.
CarMax Inc KMX.N slumped 23.72% after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.
General Motors Co GM.N and Ford Motor Co F.N also took a hit, dropping about 5.5% each.
Airline carriers and cruise operators fell on cancelling or delaying trips after Hurricane Ian hit Florida's Gulf Coast with catastrophic force.
American Airlines AAL.O fell 4.3%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 2.3% and 3.9%.
Cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 4.3% and 5.7%, respectively.
Declining issues outnumbered advancers for a 7.26-to-1 ratio on the NYSE and for a 3.87-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and 85 new lows, while the Nasdaq recorded six new highs and 393 new lows.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh; Editing by Anil D'Silva and Arun Koyyur)
((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 Nasdaq .IXIC fell 3% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. The benchmark index had recorded its first gain in seven sessions on Wednesday on easing Treasury yields after the Bank of England said it would buy long-dated British bonds to restore financial stability in markets. Meanwhile, comments from the Federal Reserve's Cleveland President Loretta Mester echoed other central bank officials through the week, who have vowed more interest rate hikes to tame inflation.
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The Nasdaq .IXIC fell 3% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. American Airlines AAL.O fell 4.3%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 2.3% and 3.9%. Cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 4.3% and 5.7%, respectively.
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The Nasdaq .IXIC fell 3% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. The benchmark index had recorded its first gain in seven sessions on Wednesday on easing Treasury yields after the Bank of England said it would buy long-dated British bonds to restore financial stability in markets. American Airlines AAL.O fell 4.3%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 2.3% and 3.9%.
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The Nasdaq .IXIC fell 3% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. The benchmark index had recorded its first gain in seven sessions on Wednesday on easing Treasury yields after the Bank of England said it would buy long-dated British bonds to restore financial stability in markets. CarMax Inc KMX.N slumped 23.72% after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.
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19117.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street tumbles on growing concerns over economic growth
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-tumbles-on-growing-concerns-over-economic-growth
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nan
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nan
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By Susan Mathew and Ankika Biswas
Sept 29 (Reuters) - U.S. stock indexes slipped on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse.
Out of the 11 S&P sector indexes, six of them dropped more than 2%. The Nasdaq .IXIC fell over 1% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. They were down between 2.41% and 4.12%.
The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
Sterling fell and bond prices slid, with the selloff in British assets spilling over to even safe-haven U.S. Treasuries and top-rated German bonds.
In the previous session, the S&P 500 recorded its first gain in seven sessions. The benchmark index has lost about $9.1 trillion in market value this year and was last valued at $31.2 trillion, according to Datastream.
Wall Street's main indexes recorded hefty declines in the first hour of trading, poised to wipe out almost all of the previous session's gains.
"You need to see the market beginning to stabilize and that's not going to happen until it gets a sense of whether or not the Fed is done raising interest rates or earning season comes in better than expected," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
Meanwhile, comments from the Federal Reserve's Cleveland President Loretta Mester echoed other central bank officials through the week, who have vowed more interest rate hikes to tame inflation.
Data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, while gross domestic product fell at an unrevised 0.6% annualized rate in the last quarter.
At 9:59 a.m. ET, the Dow Jones Industrial Average .DJI was down 469.62 points, or 1.58%, at 29,214.12, the S&P 500 .SPX was down 73.40 points, or 1.97%, at 3,645.64, and the Nasdaq Composite .IXIC was down 284.83 points, or 2.58%, at 10,766.81.
Airline carriers and cruise operators fell on cancelling or delaying trips after Hurricane Ian hit Florida's Gulf Coast with catastrophic force.
American Airlines AAL.O fell about 3.84%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 3.54% and 4.37%.
Cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 4.10% and 4.52%.
Declining issues outnumbered advancers for a 12.35-to-1 ratio on the NYSE and a 4.69-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week highs and 58 new lows, while the Nasdaq recorded three new highs and 242 new lows.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh; Editing by Anil D'Silva and Arun Koyyur)
((susan.mathew@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 .IXIC fell over 1% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. "You need to see the market beginning to stabilize and that's not going to happen until it gets a sense of whether or not the Fed is done raising interest rates or earning season comes in better than expected," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. Meanwhile, comments from the Federal Reserve's Cleveland President Loretta Mester echoed other central bank officials through the week, who have vowed more interest rate hikes to tame inflation.
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The Nasdaq .IXIC fell over 1% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes slipped on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. American Airlines AAL.O fell about 3.84%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 3.54% and 4.37%.
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The Nasdaq .IXIC fell over 1% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes slipped on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. Data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, while gross domestic product fell at an unrevised 0.6% annualized rate in the last quarter.
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The Nasdaq .IXIC fell over 1% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes slipped on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. Out of the 11 S&P sector indexes, six of them dropped more than 2%.
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19118.0
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2022-09-29 00:00:00 UTC
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1 Significant Risk That Skyworks Solutions Could Face by 2030
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AAPL
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https://www.nasdaq.com/articles/1-significant-risk-that-skyworks-solutions-could-face-by-2030
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nan
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nan
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Radiofrequency (RF) device company Skyworks Solutions (NASDAQ: SWKS) stock price has declined since the second half of 2021 despite having significant growth tailwinds from mobile device migration from 4G to 5G. One of the reasons for its stock decline is that the company faces a serious risk to its business that long-term investors might want to consider before investing.
Here is one significant risk that this company could face by 2030.
Customer concentration presents a significant risk
For much of Skyworks' history, one customer, Apple, has accounted for a weighty chunk of Skyworks' revenues. Over the last ten years, Apple grew from 29% of its total revenue to 55%. And while riding on the back of the most important global smartphone manufacturer has produced dividends for Skyworks, it also comes with a substantial risk -- Apple has plans to eventually manufacture for itself all the critical components used within its products.
Although Apple is unlikely to replace Skyworks' 5G business soon, it appears Apple is targeting the next generation of wireless technology by announcing job openings for wireless engineers for 6G. Additionally, in December of 2021, Apple announced it was building a new office in Irvine, California, focusing on wireless chip production, according to a Bloomberg article. This new office will, maybe not so coincidentally, be in the same city where Skyworks has its headquarters -- a prime area from which it can drain talent away from Skyworks.
At one point, Skyworks' valuation traded roughly in line with Apple. However, this chart shows that the relationship has decoupled over the last several years as the market absorbs the possibility of Skyworks losing half of its sales.
SWKS PE Ratio data by YCharts
Skyworks counts on markets outside mobile phones to diversify
Skyworks first started addressing Apple concentration issues by diversifying into China. By 2019, China-based Huawei was its second-largest customer and had reached a 15% share of its revenue. However, Skyworks' ability to diversify into China was nipped in the bud once the U.S. government placed Huawei on a trade block list that prevents American companies from doing business with it.
Without Huawei and other Chinese companies, it would be nearly impossible for Skyworks to significantly diversify away from Apple because of Apple's global dominance in premium smartphones, an area from which Skyworks captures outsize revenue. But luckily for Skyworks, 5G is about more than just mobile phones.
Image source: Skyworks Solutions.
Skyworks refers to everything outside mobile phones as broad markets. As of the quarter ended June 30, broad markets made up 38% of its total revenue, growing at 38% year over year. By diversifying into broad markets, the company widens the breadth of its customer base beyond high-end smartphones and tablets.
As wireless technologies continually improve in speed, latency, and performance, many more use cases should open up in areas like connected home and self-driving cars. And Skyworks is investing ahead of many of these newer use cases.
For example, in July 2021, it completed its acquisition of the Infrastructure & Automotive business of Silicon Laboratories. This acquisition will strengthen the company's position in electric and hybrid vehicles, industrial and motor control, power supply, 5G wireless infrastructure, optical data communications, and the data center. These investments in broad markets appear to have tremendous growth prospects over the long term.
Image source: Skyworks Solutions.
As of 2021, the company was generating $1.6 billion from broad markets. And according to market intelligence firm MarketsandMarkets, the market for the Internet of Things (most of what Skyworks labels broad markets) should grow from $300.3 billion in 2021 to $650.5 billion by 2026, at a compound annual growth rate (CAGR) of 16.7%. By the close of 2021, Skyworks had only penetrated less than a percent of its total opportunity in broad markets.
What you should watch
The main thing investors should pay attention to is that the wireless industry has produced a new generation of wireless technology every ten years; therefore, you can look for a likely introduction of 6G as we approach 2030. Should Apple attempt to displace Skyworks, it will likely happen as we approach the next decade. And if Apple still remains a significant customer at that time, Skyworks could be in jeopardy of losing significant revenues, resulting in a serious stock decline.
Skyworks currently trades at a price/earnings to growth (PEG) ratio of 0.89 versus the Semiconductors-Radio Frequency industry's PEG ratio of 1.21, according to stock research website Zacks. Most investors consider a PEG ratio below 1.0 a sign of an undervalued company.
If you choose to buy this stock, you must accept the risk that, in the short term, the threat of Apple leaving could result in Skyworks remaining undervalued. And in the long term, its stock could face challenges if and when Apple chooses to drop Skyworks as a component supplier.
10 stocks we like better than Skyworks Solutions
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 Skyworks Solutions 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 August 17, 2022
{%sfr%}
Rob Starks Jr has positions in Skyworks Solutions. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends Silicon Laboratories and Skyworks Solutions 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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However, Skyworks' ability to diversify into China was nipped in the bud once the U.S. government placed Huawei on a trade block list that prevents American companies from doing business with it. As wireless technologies continually improve in speed, latency, and performance, many more use cases should open up in areas like connected home and self-driving cars. If you choose to buy this stock, you must accept the risk that, in the short term, the threat of Apple leaving could result in Skyworks remaining undervalued.
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Radiofrequency (RF) device company Skyworks Solutions (NASDAQ: SWKS) stock price has declined since the second half of 2021 despite having significant growth tailwinds from mobile device migration from 4G to 5G. SWKS PE Ratio data by YCharts Skyworks counts on markets outside mobile phones to diversify Skyworks first started addressing Apple concentration issues by diversifying into China. The Motley Fool recommends Silicon Laboratories and Skyworks Solutions and recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple.
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Customer concentration presents a significant risk For much of Skyworks' history, one customer, Apple, has accounted for a weighty chunk of Skyworks' revenues. SWKS PE Ratio data by YCharts Skyworks counts on markets outside mobile phones to diversify Skyworks first started addressing Apple concentration issues by diversifying into China. Without Huawei and other Chinese companies, it would be nearly impossible for Skyworks to significantly diversify away from Apple because of Apple's global dominance in premium smartphones, an area from which Skyworks captures outsize revenue.
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One of the reasons for its stock decline is that the company faces a serious risk to its business that long-term investors might want to consider before investing. Without Huawei and other Chinese companies, it would be nearly impossible for Skyworks to significantly diversify away from Apple because of Apple's global dominance in premium smartphones, an area from which Skyworks captures outsize revenue. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Skyworks Solutions wasn't one of them!
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19119.0
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2022-09-29 00:00:00 UTC
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Dow Movers: BA, MRK
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AAPL
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https://www.nasdaq.com/articles/dow-movers%3A-ba-mrk-3
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nan
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nan
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In early trading on Thursday, shares of Merck topped the list of the day's best performing Dow Jones Industrial Average components, trading up 0.2%. Year to date, Merck registers a 13.5% gain.
And the worst performing Dow component thus far on the day is Boeing, trading down 3.9%. Boeing is lower by about 36.3% looking at the year to date performance.
Two other components making moves today are Apple, trading down 3.8%, and Visa, trading up 0.1% on the day.
VIDEO: Dow Movers: BA, MRK
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Thursday, shares of Merck topped the list of the day's best performing Dow Jones Industrial Average components, trading up 0.2%. And the worst performing Dow component thus far on the day is Boeing, trading down 3.9%. VIDEO: Dow Movers: BA, MRK The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Thursday, shares of Merck topped the list of the day's best performing Dow Jones Industrial Average components, trading up 0.2%. Year to date, Merck registers a 13.5% gain. And the worst performing Dow component thus far on the day is Boeing, trading down 3.9%.
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In early trading on Thursday, shares of Merck topped the list of the day's best performing Dow Jones Industrial Average components, trading up 0.2%. And the worst performing Dow component thus far on the day is Boeing, trading down 3.9%. Two other components making moves today are Apple, trading down 3.8%, and Visa, trading up 0.1% on the day.
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And the worst performing Dow component thus far on the day is Boeing, trading down 3.9%. Boeing is lower by about 36.3% looking at the year to date performance. VIDEO: Dow Movers: BA, MRK The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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19120.0
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2022-09-29 00:00:00 UTC
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Nasdaq Sell-Off: 2 Warren Buffett Stocks He Plans to Hold Forever
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AAPL
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https://www.nasdaq.com/articles/nasdaq-sell-off%3A-2-warren-buffett-stocks-he-plans-to-hold-forever
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nan
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nan
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Warren Buffett's legendary and storied investment career has yielded investors in his company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), breathtaking returns. Since Mr. Buffett took the helm of Berkshire in 1965, the stock has produced a 20.1% annual compounded return for its shareholders through the end of 2021. Buffett's effort trounced the S&P 500, which generated annual compounded returns of 10.5%, including dividends over the same time frame.
Let's add some color to Buffett's 56-year track record. If a long-term buy-and-hold investor (like Buffett, Berkshire's largest shareholder) plunked down $10,000 for Berkshire shares when Buffett took over and had the patience never to sell a single share, they would have had $284,713,732.33 at the end of 2021.
Buffett's investment criterion is the same whether he buys stocks or entire companies. He wants to buy great companies whose shares have been hammered down to attractive prices, then hold them for a long time. Many times his best stock buys come from bear markets like today.
For example, in the aftermath of the Great Recession, Buffett invested $5 billion in Bank of America. His investment included preferred shares and warrants to buy 700 million shares of the stock at $7.14, which traded above $50 before the recession. Buffett eventually exercised the warrants, and his Bank of America position was worth $31,344,432,000 at the end of the last quarter. That's a 629% return on his original $5 billion, which doesn't even count the shares he sold at a profit along the way or the preferred and common dividends the shares paid him. But Bank of America stock is not on this list of current stock opportunities.
Image source: The Motley Fool.
Warren Buffett's favorite holding period is "forever"
Buffett is quoted as saying his favorite holding period is "forever." No one can hold a stock forever. What the legendary investor means is that the best companies have the staying power to increase their value for the foreseeable future.
For example, Buffett first bought shares of GEICO in 1951 when he was 20 years old. Berkshire eventually acquired the entire company in 1995 and still holds it inside its insurance portfolio after 72 years. He also bought shares of Coca-Cola in 1988, months after Black Monday. Berkshire has owned its Coke shares for 34 years and counting. But neither of these two is the Buffett holding you need to know about now. Those companies didn't make the list either. Here's which ones did.
1. Apple: The iPhone is great, but Apple has another segment that may be even better
Warren Buffett started accumulating shares of Apple (NASDAQ: AAPL) in 2016 and bought more in the first and second quarters of 2022 as the shares slumped. He regards the company as probably the best company that he knows of in the world.
Apple controls roughly 50% of the smartphone market in the U.S. and has a healthy share of theglobal market But it might be the services that iPhone customers add on that keep making the company more profitable every year. iPhone users can download music from the Apple Music app, make contactless payments with Apple Pay, and store their pictures in their iCloud storage. Customers pay a small fee for the services, which makes a big impact on Apple's bottom line.
The services are digital, which means every new customer costs Apple very little. Therefore, every dollar of additional revenue from a new service is more profitable than the last. In 2017, when Apple first disclosed the data, its gross margin from services was 55%. That's more than the 35.7% gross margin from products like iPhones, Macs, and iPads. By 2021, the gross margin from Apple's services had vaulted to nearly 70%. In dollar terms, the gross margin from Apple's services segment leaped 165% from $17,989 billion in 2017 to $47,710 in 2019.
Apple looks to expand the profitability of its services as new music releases hit every day and folks download Apple Music. Perhaps more exciting is Apple Pay, which recently surpassed payment behemoth Mastercard in transaction volume and has plenty of room to run.
Apple's stock is down about 14% this year and trades at a price-to-earnings ratio of under 26 times. Buffett was a buyer in the first two quarters of the year, and investors are now getting a similar price to Buffett's recent buys. If the valuation was good enough for the Oracle of Omaha, it should be good enough for other investors.
2. This Buffett stock controls the internet
Buffett also holds a lesser-known stock that investors should be familiar with. The company provides infrastructure to the internet by providing the domain registry for every .com and .net domain on the web. It is responsible for ensuring these domains are up and running 24 hours a day. That's not easy to do, considering it handles billions of internet queries daily. It has executed flawlessly, though. The company boasts an astounding 25 years of uninterrupted service.
The company is Verisign (NASDAQ: VRSN), and it has been granted exclusive rights to run its domains by the Internet Corporation for Assigning Names and Numbers (ICANN), a governing body of the internet. Verisign's agreement with ICANN gives it a monopolistic position (what Buffett describes as a "toll bridge") on its domains. Hundreds of millions of webpage owners pay an annual fee to keep them up.
Image source: Getty Images.
The number of .com and .net domain names has proliferated over the years. Verisign provided service for 90.4 million domain names in 2008. By the end of last quarter, that number had increased by 92% to 174.3 million. That has allowed the stock to trounce the market since Buffett first bought shares in the fourth quarter of 2012.
The average closing price of Verisign in the fourth quarter of 2012 was $41.62. Verisign stock is trading at about $176 per share, which has bagged Buffett a 322% return. That's significantly better than the 158% total return of the S&P 500.
Buffett's return is impressive because it includes the stock's 30% pullback this year. That also means that investors have another shot at buying the stock cheaply. Though we can't know the exact valuation at which Buffett bought his first Verisign shares, we can make an educated estimate.
At the beginning of the fourth quarter of 2012, Verisign's price-to-earnings ratio was 29.51 times. At the end of the quarter, it had drifted down to 19.81 times. Buffett thought that was an attractive valuation for a monopolistic stock he could hold forever. Investors who regretted not buying the stock when Buffett did can now buy the stock at 23.38 times, at the low end of Buffett's range.
Mr. Buffett still owns Verisign shares inside Berkshire Hathaway a decade later. That indicates he still plans to hold the shares. Verisign may be in a better position than it was before. Now, companies like GoDaddy and Wix.com make it easier for individual people, small businesses, and corporations to register domains.
Worried about the bear market? A stock market recovery is coming
The Oracle of Omaha is often quoted as saying, "be fearful when others are greedy, and greedy when others are fearful." Today's bear market means investors should be greedy. Buffett has earned his investors remarkable returns by buying beaten-down stocks of great companies in tumultuous times like now, then holding them for a very long time.
No one knows when the market will recover, but it will. Since 1928 there have been 24 bear markets in the S&P 500, and all of them recovered. Those are rare opportunities for heady long-term investors to get rich. When it happens this time around, you may regret not buying these beaten-down Buffett stocks.
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 August 17, 2022
Bank of America is an advertising partner of The Ascent, a Motley Fool company. BJ Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway (B shares), Mastercard, VeriSign, and Wix.com. The Motley Fool recommends GoDaddy and recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long January 2024 $47.50 calls on Coca-Cola, 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: The iPhone is great, but Apple has another segment that may be even better Warren Buffett started accumulating shares of Apple (NASDAQ: AAPL) in 2016 and bought more in the first and second quarters of 2022 as the shares slumped. Buffett's effort trounced the S&P 500, which generated annual compounded returns of 10.5%, including dividends over the same time frame. Perhaps more exciting is Apple Pay, which recently surpassed payment behemoth Mastercard in transaction volume and has plenty of room to run.
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Apple: The iPhone is great, but Apple has another segment that may be even better Warren Buffett started accumulating shares of Apple (NASDAQ: AAPL) in 2016 and bought more in the first and second quarters of 2022 as the shares slumped. Warren Buffett's favorite holding period is "forever" Buffett is quoted as saying his favorite holding period is "forever." The Motley Fool has positions in and recommends Apple, Berkshire Hathaway (B shares), Mastercard, VeriSign, and Wix.com.
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Apple: The iPhone is great, but Apple has another segment that may be even better Warren Buffett started accumulating shares of Apple (NASDAQ: AAPL) in 2016 and bought more in the first and second quarters of 2022 as the shares slumped. Investors who regretted not buying the stock when Buffett did can now buy the stock at 23.38 times, at the low end of Buffett's range. The Motley Fool recommends GoDaddy and recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long January 2024 $47.50 calls on Coca-Cola, 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: The iPhone is great, but Apple has another segment that may be even better Warren Buffett started accumulating shares of Apple (NASDAQ: AAPL) in 2016 and bought more in the first and second quarters of 2022 as the shares slumped. Apple controls roughly 50% of the smartphone market in the U.S. and has a healthy share of theglobal market But it might be the services that iPhone customers add on that keep making the company more profitable every year. This Buffett stock controls the internet Buffett also holds a lesser-known stock that investors should be familiar with.
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19121.0
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2022-09-29 00:00:00 UTC
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3 Beaten-Down Dow Stocks to Buy Before the Market Bounces Back
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AAPL
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https://www.nasdaq.com/articles/3-beaten-down-dow-stocks-to-buy-before-the-market-bounces-back
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The Dow Jones Industrial Average officially entered bear market territory on Monday. That can be scary for investors. But smart investors understand the history of bear markets and that every bear market has had one thing in common. More importantly, they know how to get richer based on that knowledge.
According to Yardeni Research, there have been 22 bear markets since 1928 (measured by the S&P 500 index). Those bear markets have ranged from a 20.6% decline (barely meeting the 20% bear market threshold) to 83% in the depths of the Great Depression in 1930. Each bear market has ended with the same result -- a recovery rally.
Some bear markets have yielded to spectacular bull market runs. For instance, the bear market in 1949 reached its lowest level on June 13 of that year. The ensuing bull market ran for 9,146 days (more than seven years) and gained 267.1% by the time it peaked. When the Great Recession troughed on March 9, 2009, a bull market then produced a 400.5% gain and lasted 1,997 days (nearly five and a half years) until it peaked. Perhaps most astonishingly, the bear market induced by Black Monday reached its nadir on Dec. 4, 1987. After that, it took only 701 days (less than two years) for the market to reach its top, resulting in a 582.1% return.
It's difficult to see your account evaporate from a bear market and have the fortitude to buy more beaten-down shares. Still, smart investors see bear markets as an opportunity to get in ahead of the recovery. One of the smartest investors, Warren Buffett, famously said: "When it's raining gold, don't bring a thimble. Bring a bucket."
In other words, bear markets are a gift that offers investors a chance to buy the stocks of competitively advantaged companies at great prices. Doing so can lead to tremendous long-term results. With that said, here's a look at three beaten-down Dow Jones stocks that could lead the market recovery.
Apple consistently grows in value
Apple's (NASDAQ: AAPL) iPhone comprises about 50% of the U.S. smartphone market and a healthy share of theglobal markettoo. But there is much more to Apple than its wildly popular device.
Image source: Getty Images.
Add-on services are another massive appeal. Through these services, iPhone users can download music from the Apple Music app, store an increasing timeline of selfies on their iCloud storage, and access their credit and debit cards with Apple Pay. After paying a small monthly fee for the services, iPhone users would be reluctant to switch to a competing smartphone if it meant potentially abandoning their photos or reentering all their personal payment info on another device.
Apple still makes most of its revenue and profits from the iPhone, but the more profitable services segment is gaining rapidly. In 2017, when Apple first disclosed the data, services made up only about 14% of Apple's overall revenue and carried a gross margin of 55% compared to 35.7% for iPhones, Macs, and iPads. Through the first nine months of Apple's current fiscal year, the services segment accounted for over 19% of overall revenue, and its gross margin had increased to an astonishing 72.2%.
In dollar terms, Apple's services segment grew its gross profit by 165%, from $17,989 million in 2017 to $47,710 million in 2021. The segment has had a noticeable effect on Apple's overall profitability.
AAPL Gross Profit (TTM) data by YCharts
Apple has plenty of room to grow its services business and continue to expand its profitability. For instance, over the last twelve months, Apple Pay has transacted more payment volume than Mastercard, but 39% of Americans haven't yet heard of it.
Apple's largest shareholder is Warren Buffett's company, Berkshire Hathaway. The company first started accumulating shares in 2016. The shares tumbled during this year's bear market, and Berkshire bought more shares in both the first and second quarters of this year. Apple stock is about the same price as when Buffett bought shares this year. Investors wondering if Apple is still a good value have the stamp of approval from the Oracle of Omaha.
Disney's streaming could be its next growth phase
Disney (NYSE: DIS) brings a powerful brand to the table. Disney princesses, Marvel, Pixar, and Lucas Films attract thousands of guests to its theme parks, the box office, and streaming platform Disney+.
Disney's theme parks and movies are stalwarts, but perhaps its most compelling segment is its streaming platform. In addition to an unbelievable library of content for all ages and demographics on Disney+, the company also boasts ESPN+ for sports fans and Hulu, which features movies, series, and local sports. The streaming platforms have quickly amassed 152.1 million subscribers.
Disney forecasts it will reach between 215 million and 245 million subscribers by 2024. Yet the blue chip, Dow Jones stock has succumbed to the bear market and is down 45% from its 52-week high. Wall Street analysts expect the company to earn $4.03 per share this year, which means the stock is trading at a forward price-to-earnings ratio (based on estimates) of 24.6 times. That's a more attractive valuation than the stock has seen in two years.
Nike is a competitively advantaged blue chip stock
The Nike (NYSE: NKE) swoosh is one of the most recognized brands globally, and it's not by accident. Nike started brand-building when the company signed NBA rookie phenom Michael Jordan to an endorsement deal in 1984. As the popularity of the Hall of Famer snowballed over his career, so did Nike's appeal.
Since then, Nike has repeated the formula over the decades by signing other superstars like LeBron James, Kevin Durant, and soccer superstar Cristiano Ronaldo. Nike amassed industry recognition to a level where competitors like Adidas and Under Armour lack the resources to sign similar high-profile stars.
Image source: Getty Images.
The dollars Nike pays for its suite of superstar athletes affords it the luxury of charging extra for its shoes and athletic gear. That extra pricing power makes Nike more profitable than its competitors in terms of operating margin (revenue minus things like raw materials, advertising, and wages).
NKE Operating Margin (TTM) data by YCharts
Nike's industry-leading operating margin is nearly double its closest competitor and should allow it to sustain its commanding lead in brand awareness as long as sports remain one of the world's most popular events. Yet Nike's market cap has shed $109.36 billion in market value this year. Today's bear market provides investors with a chance to buy this competitively advantaged Dow Jones stock at a depressed price before it recovers.
Buy now or wait?
There is no telling when today's bear market will give way to the bulls. But the stock market is always forward-looking. So, the risk of waiting for good macroeconomic news is missing out on the recovery. Buying stocks of great companies at depressed prices is a recipe for market-beating returns. Even if it means the bear market persists for a while, it's better than suffering from the regret of missing out on these opportunities.
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 August 17, 2022
BJ Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway (B shares), Mastercard, Nike, Under Armour (C Shares), and Walt Disney. The Motley Fool recommends Under Armour (A Shares) and recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long January 2024 $145 calls on Walt Disney, 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), short January 2024 $155 calls on Walt Disney, 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 consistently grows in value Apple's (NASDAQ: AAPL) iPhone comprises about 50% of the U.S. smartphone market and a healthy share of theglobal markettoo. AAPL Gross Profit (TTM) data by YCharts Apple has plenty of room to grow its services business and continue to expand its profitability. After paying a small monthly fee for the services, iPhone users would be reluctant to switch to a competing smartphone if it meant potentially abandoning their photos or reentering all their personal payment info on another device.
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Apple consistently grows in value Apple's (NASDAQ: AAPL) iPhone comprises about 50% of the U.S. smartphone market and a healthy share of theglobal markettoo. AAPL Gross Profit (TTM) data by YCharts Apple has plenty of room to grow its services business and continue to expand its profitability. Today's bear market provides investors with a chance to buy this competitively advantaged Dow Jones stock at a depressed price before it recovers.
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Apple consistently grows in value Apple's (NASDAQ: AAPL) iPhone comprises about 50% of the U.S. smartphone market and a healthy share of theglobal markettoo. AAPL Gross Profit (TTM) data by YCharts Apple has plenty of room to grow its services business and continue to expand its profitability. But smart investors understand the history of bear markets and that every bear market has had one thing in common.
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Apple consistently grows in value Apple's (NASDAQ: AAPL) iPhone comprises about 50% of the U.S. smartphone market and a healthy share of theglobal markettoo. AAPL Gross Profit (TTM) data by YCharts Apple has plenty of room to grow its services business and continue to expand its profitability. The shares tumbled during this year's bear market, and Berkshire bought more shares in both the first and second quarters of this year.
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19122.0
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2022-09-29 00:00:00 UTC
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Why Apple and TSMC Stocks Were Down on Wednesday
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AAPL
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https://www.nasdaq.com/articles/why-apple-and-tsmc-stocks-were-down-on-wednesday
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Today's video focuses on Apple (NASDAQ: AAPL), Taiwan Semiconductor Manufacturing (NYSE: TSM), and a few reports floating online that could be causing stock prices to drop. Check out the short video to learn more, consider subscribing, and click the special offer link below.
*Stock prices used were the after-market prices of Sept. 28, 2022. The video was published on Sept. 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 August 17, 2022
Jose Najarro has positions in Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Apple and Taiwan Semiconductor Manufacturing. 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), Taiwan Semiconductor Manufacturing (NYSE: TSM), and a few reports floating online that could be causing stock prices to drop. 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.
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Today's video focuses on Apple (NASDAQ: AAPL), Taiwan Semiconductor Manufacturing (NYSE: TSM), and a few reports floating online that could be causing stock prices to drop. See the 10 stocks *Stock Advisor returns as of August 17, 2022 Jose Najarro has positions in Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Apple and Taiwan Semiconductor Manufacturing.
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Today's video focuses on Apple (NASDAQ: AAPL), Taiwan Semiconductor Manufacturing (NYSE: TSM), and a few reports floating online that could be causing stock prices to drop. See the 10 stocks *Stock Advisor returns as of August 17, 2022 Jose Najarro has positions in Taiwan Semiconductor Manufacturing. 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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Today's video focuses on Apple (NASDAQ: AAPL), Taiwan Semiconductor Manufacturing (NYSE: TSM), and a few reports floating online that could be causing stock prices to drop. See the 10 stocks *Stock Advisor returns as of August 17, 2022 Jose Najarro has positions in Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Apple and Taiwan Semiconductor Manufacturing.
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19123.0
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2022-09-29 00:00:00 UTC
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Is SPDR NYSE Technology ETF (XNTK) a Strong ETF Right Now?
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AAPL
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https://www.nasdaq.com/articles/is-spdr-nyse-technology-etf-xntk-a-strong-etf-right-now-4
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The SPDR NYSE Technology ETF (XNTK) made its debut on 09/25/2000, and is a smart beta exchange traded fund that provides broad exposure to the Technology ETFs category of the market.
What Are Smart Beta ETFs?
The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.
A good option for investors who believe in market efficiency, market cap weighted indexes offer 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.
Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other such characteristics.
Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.
Fund Sponsor & Index
Managed by State Street Global Advisors, XNTK has amassed assets over $364.49 million, making it one of the average sized ETFs in the Technology ETFs. This particular fund seeks to match the performance of the NYSE Technology Index before fees and expenses.
The NYSE Technology Index is composed of 35 leading U.S.-listed technology-related companies.
Cost & Other Expenses
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 cousins, other things remaining the same.
Annual operating expenses for this ETF are 0.35%, making it one of the least expensive products in the space.
It's 12-month trailing dividend yield comes in at 0.77%.
Sector Exposure and Top Holdings
ETFs offer 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 in the Information Technology sector - about 67.60% of the portfolio. Consumer Discretionary and Telecom round out the top three.
Taking into account individual holdings, International Business Machines Corporation (IBM) accounts for about 4.65% of the fund's total assets, followed by Apple Inc. (AAPL) and Booking Holdings Inc. (BKNG).
The top 10 holdings account for about 37.1% of total assets under management.
Performance and Risk
The ETF has lost about -40.89% so far this year and is down about -37.03% in the last one year (as of 09/29/2022). In the past 52-week period, it has traded between $96.15 and $175.28.
XNTK has a beta of 1.19 and standard deviation of 33.26% for the trailing three-year period. With about 36 holdings, it has more concentrated exposure than peers.
Alternatives
SPDR NYSE Technology ETF is an excellent option for investors seeking to outperform the Technology ETFs segment of the market. There are other ETFs in the space which investors could consider as well.
Technology Select Sector SPDR ETF (XLK) tracks Technology Select Sector Index and the Vanguard Information Technology ETF (VGT) tracks MSCI US Investable Market Information Technology 25/50 Index. Technology Select Sector SPDR ETF has $37.41 billion in assets, Vanguard Information Technology ETF has $41.16 billion. XLK has an expense ratio of 0.10% and VGT charges 0.10%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Technology ETFs.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
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SPDR NYSE Technology ETF (XNTK): ETF Research Reports
Apple Inc. (AAPL): Free Stock Analysis Report
International Business Machines Corporation (IBM): Free Stock Analysis Report
Technology Select Sector SPDR ETF (XLK): ETF Research Reports
Vanguard Information Technology ETF (VGT): ETF Research Reports
Booking Holdings Inc. (BKNG): 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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Taking into account individual holdings, International Business Machines Corporation (IBM) accounts for about 4.65% of the fund's total assets, followed by Apple Inc. (AAPL) and Booking Holdings Inc. (BKNG). Apple Inc. (AAPL): Free Stock Analysis Report Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.
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Taking into account individual holdings, International Business Machines Corporation (IBM) accounts for about 4.65% of the fund's total assets, followed by Apple Inc. (AAPL) and Booking Holdings Inc. (BKNG). Apple Inc. (AAPL): Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK) tracks Technology Select Sector Index and the Vanguard Information Technology ETF (VGT) tracks MSCI US Investable Market Information Technology 25/50 Index.
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Taking into account individual holdings, International Business Machines Corporation (IBM) accounts for about 4.65% of the fund's total assets, followed by Apple Inc. (AAPL) and Booking Holdings Inc. (BKNG). Apple Inc. (AAPL): Free Stock Analysis Report The SPDR NYSE Technology ETF (XNTK) made its debut on 09/25/2000, and is a smart beta exchange traded fund that provides broad exposure to the Technology ETFs category of the market.
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Taking into account individual holdings, International Business Machines Corporation (IBM) accounts for about 4.65% of the fund's total assets, followed by Apple Inc. (AAPL) and Booking Holdings Inc. (BKNG). Apple Inc. (AAPL): Free Stock Analysis Report The SPDR NYSE Technology ETF (XNTK) made its debut on 09/25/2000, and is a smart beta exchange traded fund that provides broad exposure to the Technology ETFs category of the market.
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19124.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street futures resume fall as economic worries weigh
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-futures-resume-fall-as-economic-worries-weigh
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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 0.76%, S&P 0.84%, Nasdaq 1.02%
Sept 29 (Reuters) - The Dow and S&P futures fell for the seventh time in eight sessions on Thursday as investors worried about a global downturn from aggressive rate hikes by central banks and weighed the risk of a potential contagion from a turmoil in UK markets.
Megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.8% and 1.6% in premarket trading.
U.S. stocks ended sharply higher on Wednesday, as markets globally took heart from the Bank of England seeking to stabilize UK markets after a turmoil caused by the government's new economic plan.
But calm from the BoE's bond purchases promise proved short-lived with a rout in gilts spilling over into even safe-haven U.S. Treasuries and top-rated German bonds.
Wall Street's main indexes have been battered this year, with surging U.S. bond yields further diminishing the appeal for stocks as investors found more attractive alternatives in U.S. Treasuries.
The yields on many Treasuries - which are considered virtually risk-free if held to maturity - now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
At 5:15 a.m. ET, Dow e-minis 1YMcv1 were down 225 points, or 0.76%, S&P 500 e-minis EScv1 were down 31.25 points, or 0.84%, and Nasdaq 100 e-minis NQcv1 were down 117.75 points, or 1.02%.
American Airlines AAL.O fell about 2.4% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years.
U.S. cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell about 2.5% each after they delayed or canceled trips in anticipation of the hurricane.
Investors will be watching for weekly jobless claims, which is expected to rise by 2,000 to 215,000 last week. Final economic growth figures for the second quarter are also due. A second estimate of the government last month had shown the economy contracted at 0.6%, a more moderate pace than initially thought.
(Reporting by Susan Mathew in Bengaluru; Editing by Anil D'Silva)
((susan.mathew@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.8% and 1.6% in premarket trading. Wall Street's main indexes have been battered this year, with surging U.S. bond yields further diminishing the appeal for stocks as investors found more attractive alternatives in U.S. Treasuries. American Airlines AAL.O fell about 2.4% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years.
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Megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.8% and 1.6% in premarket trading. Futures down: Dow 0.76%, S&P 0.84%, Nasdaq 1.02% Sept 29 (Reuters) - The Dow and S&P futures fell for the seventh time in eight sessions on Thursday as investors worried about a global downturn from aggressive rate hikes by central banks and weighed the risk of a potential contagion from a turmoil in UK markets. U.S. stocks ended sharply higher on Wednesday, as markets globally took heart from the Bank of England seeking to stabilize UK markets after a turmoil caused by the government's new economic plan.
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Megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.8% and 1.6% in premarket trading. Futures down: Dow 0.76%, S&P 0.84%, Nasdaq 1.02% Sept 29 (Reuters) - The Dow and S&P futures fell for the seventh time in eight sessions on Thursday as investors worried about a global downturn from aggressive rate hikes by central banks and weighed the risk of a potential contagion from a turmoil in UK markets. U.S. stocks ended sharply higher on Wednesday, as markets globally took heart from the Bank of England seeking to stabilize UK markets after a turmoil caused by the government's new economic plan.
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Megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.8% and 1.6% in premarket trading. U.S. stocks ended sharply higher on Wednesday, as markets globally took heart from the Bank of England seeking to stabilize UK markets after a turmoil caused by the government's new economic plan. Wall Street's main indexes have been battered this year, with surging U.S. bond yields further diminishing the appeal for stocks as investors found more attractive alternatives in U.S. Treasuries.
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19125.0
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2022-09-29 00:00:00 UTC
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Pre-Market Most Active for Sep 29, 2022 : TQQQ, SQQQ, AAPL, XPEV, QQQ, BBBY, TSLA, CVNA, CANO, BABA, NIO, PLTR
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AAPL
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https://www.nasdaq.com/articles/pre-market-most-active-for-sep-29-2022-%3A-tqqq-sqqq-aapl-xpev-qqq-bbby-tsla-cvna-cano-baba
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The NASDAQ 100 Pre-Market Indicator is down -160.55 to 11,333.28. The total Pre-Market volume is currently 50,067,845 shares traded.
The following are the most active stocks for the pre-market session:
ProShares UltraPro QQQ (TQQQ) is -0.71 at $21.56, with 10,577,900 shares traded. This represents a 5.43% increase from its 52 Week Low.
ProShares UltraPro Short QQQ (SQQQ) is +1.66 at $55.34, with 5,258,301 shares traded. This represents a 96.59% increase from its 52 Week Low.
Apple Inc. (AAPL) is -3.07 at $146.77, with 1,877,339 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
XPeng Inc. (XPEV) is -0.76 at $12.57, with 1,379,644 shares traded. As reported by Zacks, the current mean recommendation for XPEV is in the "buy range".
Invesco QQQ Trust, Series 1 (QQQ) is -2.94 at $277.00, with 1,371,771 shares traded. This represents a 2.87% increase from its 52 Week Low.
Bed Bath & Beyond Inc. (BBBY) is +0.34 at $6.80, with 1,016,850 shares traded. BBBY's current last sale is 194.29% of the target price of $3.5.
Tesla, Inc. (TSLA) is -3.83 at $283.98, with 961,530 shares traded. TSLA's current last sale is 85.19% of the target price of $333.333.
Carvana Co. (CVNA) is -2.12 at $24.75, with 575,345 shares traded. CVNA's current last sale is 57.56% of the target price of $43.
Cano Health, Inc. (CANO) is +0.16 at $9.00, with 532,370 shares traded. CANO's current last sale is 112.5% of the target price of $8.
Alibaba Group Holding Limited (BABA) is -2.16 at $78.83, with 478,019 shares traded. As reported by Zacks, the current mean recommendation for BABA is in the "buy range".
NIO Inc. (NIO) is -0.35 at $16.98, with 462,933 shares traded. As reported by Zacks, the current mean recommendation for NIO is in the "buy range".
Palantir Technologies Inc. (PLTR) is +0.12 at $8.06, with 424,286 shares traded. PLTR's current last sale is 73.27% of the target price of $11.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is -3.07 at $146.77, with 1,877,339 shares traded. ProShares UltraPro Short QQQ (SQQQ) is +1.66 at $55.34, with 5,258,301 shares traded.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is -3.07 at $146.77, with 1,877,339 shares traded. As reported by Zacks, the current mean recommendation for XPEV is in the "buy range".
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Apple Inc. (AAPL) is -3.07 at $146.77, with 1,877,339 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The total Pre-Market volume is currently 50,067,845 shares traded.
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Apple Inc. (AAPL) is -3.07 at $146.77, with 1,877,339 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The NASDAQ 100 Pre-Market Indicator is down -160.55 to 11,333.28.
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19126.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street set to open lower on growing economic downturn worries
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-set-to-open-lower-on-growing-economic-downturn-worries
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nan
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nan
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By Susan Mathew and Ankika Biswas
Sept 29 (Reuters) - U.S. stock indexes were set to open lower on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse.
The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 1.6% and 2.7% in premarket trading.
The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
Sterling fell and bond prices slid, with the selloff in British assets spilling over to even safe-haven U.S. Treasuries and top-rated German bonds.
In the previous session, the S&P 500 recorded its first gain in seven sessions. The benchmark index has lost about $9.1 trillion in market value this year and was last valued at $31.2 trillion, according to Datastream.
"You need to see the market beginning to stabilize and that's not going to happen until it gets a sense of whether or not the Fed is done raising interest rates or earning season comes in better than expected," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
Meanwhile, comments from the Federal Reserve's Cleveland President Loretta Mester echoed other central bank officials through the week, who have vowed more interest rate hikes to tame inflation.
Latest data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week to 193,000 despite the Fed's steep interest rate increases and slowing demand.
At 8:37 a.m. ET, Dow e-minis 1YMcv1 were down 364 points, or 1.22%, S&P 500 e-minis EScv1 were down 55 points, or 1.47%, and Nasdaq 100 e-minis NQcv1 were down 207.75 points, or 1.8%.
American Airlines AAL.O fell about 2.2% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years.
Share of peers United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 1.6% and 2.0%.
U.S. cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 2.1% after they delayed or canceled trips in anticipation of the hurricane.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh Editing by Anil D'Silva and Arun Koyyur)
((susan.mathew@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 Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 1.6% and 2.7% in premarket trading. "You need to see the market beginning to stabilize and that's not going to happen until it gets a sense of whether or not the Fed is done raising interest rates or earning season comes in better than expected," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. Latest data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week to 193,000 despite the Fed's steep interest rate increases and slowing demand.
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The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 1.6% and 2.7% in premarket trading. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes were set to open lower on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. ET, Dow e-minis 1YMcv1 were down 364 points, or 1.22%, S&P 500 e-minis EScv1 were down 55 points, or 1.47%, and Nasdaq 100 e-minis NQcv1 were down 207.75 points, or 1.8%.
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The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 1.6% and 2.7% in premarket trading. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes were set to open lower on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. Latest data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week to 193,000 despite the Fed's steep interest rate increases and slowing demand.
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The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 1.6% and 2.7% in premarket trading. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes were set to open lower on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
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19127.0
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2022-09-29 00:00:00 UTC
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Nasdaq Bear Market: 2 Unbelievable Stocks You'll Regret Not Buying on the Dip
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AAPL
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https://www.nasdaq.com/articles/nasdaq-bear-market%3A-2-unbelievable-stocks-youll-regret-not-buying-on-the-dip
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nan
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nan
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The Nasdaq index is down over 30% this year and even more from its 52-week high in November 2021. Now that it is entrenched in bear market territory, it can be scary for investors. But smart investors understand the history of bear markets and what they all have in common. More importantly, they know how to get richer base on that knowledge.
There have been 22 bear markets since 1928 (measured by the S&P 500 index). Those bear markets have ranged from a 20.6% decline (barely meeting the negative 20% threshold) to 83% in the depths of the Great Depression in 1930. And the one thing every bear market has in common: They all were followed by a recovery.
Some of those bear markets have yielded spectacular bull markets. For instance, the bear market in 1949 reached its lowest level on June 13. The ensuing bull market ran for more than seven years and gained 267.1% when it peaked. When the Great Recession troughed on March 9, 2009, a bull market produced a 400.5% gain and lasted 1,997 days (nearly five and a half years). Perhaps most astonishingly, the bear market induced by Black Monday reached its nadir on Dec. 4, 1987. After that, it only took 701 days (less than two years) for the market to gain 582.1%.
It's difficult to see your account evaporate from a bear market and have the fortitude to buy more beaten-down shares, but that's what smart investors do. One of the smartest, Warren Buffett, said that when it's raining gold, don't bring out a thimble, bring a bucket.
In other words, bear markets are gifts that offer investors a chance to buy the stocks of competitively advantaged companies at great prices. Doing so can lead to unbelievable long-term results. Here's a look at two stocks that could lead the market recovery.
1. Speaking of Warren Buffett, he's been buying Apple
Apple (NASDAQ: AAPL) is an excellent example of a competitively advantaged company whose stock went on sale during the 2009 bear market. At the bottom of the market, Apple stock closed at $2.97 per share (adjusted for stock splits). Had you bought about $1,000 worth of the stock, you would've received 336 shares. At the time of this writing, 4,949 days later (about 13 1/2 years), Apple stock has vaulted by 4,984% to $151, and your $1,000 would be worth $50,736.
The incredible gain doesn't even count the $2,207.40 in dividends you would have received. The dividends alone would have doubled your $1,000 investment and then some.
Is Apple stock still a buy right now? Warren Buffett thinks so. His company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), has been a shareholder since 2016 and bought more shares in the first and second quarters of this year. Buffett thinks Apple is one of the best companies in the world.
Image source: Getty Images.
Apple's iPhone is one of the world's most popular smartphones. It has about 50% of the U.S. smartphone market. But the company's rapidly expanding services segment probably also attracted Buffett. iPhone users can download music from the Apple Music app, make contactless payments with Apple Pay, and store their photos in the iCloud. These services are growing by leaps and bounds, and the segment has become more profitable as it grows.
In 2017, when Apple first disclosed the data, its services segment generated $32.7 billion in revenue. By 2021, services revenue had grown by 109% to $68.4 billion.
More important are profits. Apple's services are digital, so it costs the company very little to add new customers or for existing customers to add new services. Gross margin from services was 55% in 2017, and by 2021, the gross margin from the services segment had jumped to nearly 70%. That's more than the 35.7% gross margin from products like iPhones, Macs, and iPads. In dollar terms, the gross margin from the services segment rose 165% from $17.9 billion in 2017 to $47.7 billion in 2019.
Apple is looking to expand its services segment in the long run. Contactless payments systems like Apple Pay have increased dramatically due to the pandemic.
Apple Pay recently surpassed payment giant Mastercard in transaction volume. As iPhone users continue accumulating selfies and downloading the newest music, iCloud and Apple Music can also expand. And AppleTV looks to build on its successful launch of Ted Lasso.
What's most important to investors is that the stock dropped 17% this year and trades at a price-to-earnings ratio of under 25 times. Buffett was a buyer in the first two quarters of the year, and the bear market is now offering investors an opportunity to buy Apple at a similar value to his buys this year.
2. EV growth means big business for Copart
Copart's (NASDAQ: CPRT) dull business will get significantly more exciting in the years to come. The company is a reseller of damaged cars. Its primary sources of damaged vehicles are insurance companies, which deem a damaged car a "total loss" when it costs more to repair than to pay a claim. They rely on Copart's digital salvage business to file the necessary paperwork quickly and sell the car to dealers who salvage the vehicle for its parts.
Copart's online auction platform allows buyers to access thousands of vehicles from the company's network. The buyers are primarily dismantlers that refurbish undamaged parts and resell them. Rebuilders and used car dealers also buy and repair cars at a lower cost than the insurance companies can and resell them. Copart keeps a percentage of the sales price for itself.
Image source: Getty Images.
Copart was one of the first auto salvage companies to introduce an online auction platform. It reduced the time and money insurance companies must spend on selling and filing total-loss claims. More importantly, though, the platform sells salvage cars within seven days. Buyers can get deals done faster, and insurance companies can get paid faster.
The company's first-mover advantage with its auction platform allowed it to grow its market share from slower-moving physical-site auction companies. The platform also enables Copart to acquire smaller auction competitors, plug them into its platform, and quickly scale them up. The results have been tremendous.
Over the last decade, Copart has increased its revenue by 208.7%, from $872.2 million in 2011 to $2.69 billion. Due to the scale advantage of its online platform, net income grew even faster over that time, from $166.3 million to $936.5 million or 463%. More impressively, the stock closed at $11.97 at the end of 2011 and increased by 1,167% to $151.62 by the end of 2021. But electric vehicles (EVs) will change the game.
EVs are equipped with cameras, microprocessors, and perimeter sensors. Many of those instruments make the vehicles safer, but the repair costs are significantly higher. That means insurance companies deem EV total losses at a higher frequency than other cars. Though the EV market is still in its early stages, buyers have found that they're making more money on EV salvages. As the EV market continues to gain steam over the next several years, more buyers and sellers should benefit Copart handsomely.
If you missed Copart stock over the last decade, today's bear market is giving you another chance. The company has shed $14.38 billion in market cap since the beginning of the year and trades at a price-to-earnings ratio of 23.7 times. Outside of the COVID-19 bear market in March of 2020, the stock hasn't traded at a valuation that attractive since 2017.
Invest now or wait?
The bear market is giving investors a chance to buy shares of great companies at low prices. We don't know when a bull market will sweep in and carry stocks higher, but it will. Buying stocks now will take patience and the fortitude not to sell until the recovery is in full force, but it can generously reward steadfast investors in the long run. They might seriously regret waiting.
10 stocks we like better than Apple
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BJ Cook has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway (B shares), and Mastercard. The Motley Fool recommends Copart 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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Speaking of Warren Buffett, he's been buying Apple Apple (NASDAQ: AAPL) is an excellent example of a competitively advantaged company whose stock went on sale during the 2009 bear market. When the Great Recession troughed on March 9, 2009, a bull market produced a 400.5% gain and lasted 1,997 days (nearly five and a half years). In other words, bear markets are gifts that offer investors a chance to buy the stocks of competitively advantaged companies at great prices.
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Speaking of Warren Buffett, he's been buying Apple Apple (NASDAQ: AAPL) is an excellent example of a competitively advantaged company whose stock went on sale during the 2009 bear market. iPhone users can download music from the Apple Music app, make contactless payments with Apple Pay, and store their photos in the iCloud. Its primary sources of damaged vehicles are insurance companies, which deem a damaged car a "total loss" when it costs more to repair than to pay a claim.
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Speaking of Warren Buffett, he's been buying Apple Apple (NASDAQ: AAPL) is an excellent example of a competitively advantaged company whose stock went on sale during the 2009 bear market. Buffett was a buyer in the first two quarters of the year, and the bear market is now offering investors an opportunity to buy Apple at a similar value to his buys this year. The Motley Fool recommends Copart 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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Speaking of Warren Buffett, he's been buying Apple Apple (NASDAQ: AAPL) is an excellent example of a competitively advantaged company whose stock went on sale during the 2009 bear market. Is Apple stock still a buy right now? Buffett was a buyer in the first two quarters of the year, and the bear market is now offering investors an opportunity to buy Apple at a similar value to his buys this year.
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19128.0
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2022-09-29 00:00:00 UTC
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Company News for Sep 29, 2022
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AAPL
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https://www.nasdaq.com/articles/company-news-for-sep-29-2022
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nan
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nan
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Shares of Progress Software Corp. PRGS rose 1.9% after reporting third-quarter fiscal 2022 adjusted earnings per share of $1, surpassing the Zacks Consensus Estimate of $0.97.
Shares of Thor Industries Inc. THO climbed 4.5% after posting fourth-quarter fiscal 2022 adjusted earnings per share of $5.15, outpacing the Zacks Consensus Estimate of $4.13.
Cintas Corp.’s CTAS shares surged 2.9% after the company posted first-quarter fiscal 2023 adjusted earnings per share of $3.39, exceeding the Zacks Consensus Estimate $3.15.
Apple Inc.’s AAPL shares fell 1.3% following news that the company is mulling to drop its plan to increase the production of new iPhone due to lack of demand.
FREE Report: The Metaverse is Exploding! Don’t You Want to Cash In?
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Progress Software Corporation (PRGS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple Inc.’s AAPL shares fell 1.3% following news that the company is mulling to drop its plan to increase the production of new iPhone due to lack of demand. Apple Inc. (AAPL): Free Stock Analysis Report Becoming Spider Man and fighting Darth Vader is infinitely more appealing than spending over $5 per gallon at the pump.
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Apple Inc.’s AAPL shares fell 1.3% following news that the company is mulling to drop its plan to increase the production of new iPhone due to lack of demand. Apple Inc. (AAPL): Free Stock Analysis Report Shares of Progress Software Corp. PRGS rose 1.9% after reporting third-quarter fiscal 2022 adjusted earnings per share of $1, surpassing the Zacks Consensus Estimate of $0.97.
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Apple Inc.’s AAPL shares fell 1.3% following news that the company is mulling to drop its plan to increase the production of new iPhone due to lack of demand. Apple Inc. (AAPL): Free Stock Analysis Report Shares of Progress Software Corp. PRGS rose 1.9% after reporting third-quarter fiscal 2022 adjusted earnings per share of $1, surpassing the Zacks Consensus Estimate of $0.97.
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Apple Inc.’s AAPL shares fell 1.3% following news that the company is mulling to drop its plan to increase the production of new iPhone due to lack of demand. Apple Inc. (AAPL): Free Stock Analysis Report FREE Report: The Metaverse is Exploding!
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19129.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Futures fall on growing worries of economic downturn
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-fall-on-growing-worries-of-economic-downturn
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nan
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nan
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By Susan Mathew and Ankika Biswas
Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets.
The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.9% and 2.1% in premarket trading.
The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
Sterling fell and bond prices slid, with the selloff in British assets spilling over to even safe-haven U.S. Treasuries and top-rated German bonds.
Even though U.S. stocks ended sharply higher in previous session due to easing Treasury yields, they have been battered for a large part of the year as surging yields dented the appeal for stocks.
"The world is transitioning from a low interest rate environment to a high interest rate environment," said Andrea Cicione, head of strategy at TS Lombard.
"The market is repricing macro risks and the catalyst obviously this year has been the Fed and other central banks starting to hike rates... The question about debt sustainability and funding countries with current account deficits has become extremely real."
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
At 7:01 a.m. ET, Dow e-minis 1YMcv1 were down 198 points, or 0.67%, S&P 500 e-minis EScv1 were down 31.5 points, or 0.84%, and Nasdaq 100 e-minis NQcv1 were down 133.75 points, or 1.16%.
American Airlines AAL.O fell about 1% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years.
Share of peers United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 0.1% and 1.1%.
U.S. cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 1.6% and 1.9% after they delayed or canceled trips in anticipation of the hurricane.
Investors will be watching for weekly jobless claims, which is expected to rise by 2,000 to 215,000 last week. Final economic growth figures for the second quarter are also due.
A second estimate of the government last month had shown the economy contracted at 0.6%, a more moderate pace than initially thought.
Comments from the Federal Reserve's Cleveland President Loretta Mester on inflation will also be on the investor watch-list.
(Reporting by Susan Mathew and Ankika Biswas in Bengaluru; Editing by Anil D'Silva and Arun Koyyur)
((susan.mathew@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 Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.9% and 2.1% in premarket trading. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets. American Airlines AAL.O fell about 1% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years.
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The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.9% and 2.1% in premarket trading. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets. "The world is transitioning from a low interest rate environment to a high interest rate environment," said Andrea Cicione, head of strategy at TS Lombard.
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The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.9% and 2.1% in premarket trading. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets. The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
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The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.9% and 2.1% in premarket trading. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets. The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
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19130.0
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2022-09-29 00:00:00 UTC
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This High-Growth Stock Just Told Us Its Future Is Even Brighter
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AAPL
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https://www.nasdaq.com/articles/this-high-growth-stock-just-told-us-its-future-is-even-brighter
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nan
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nan
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It's been a brutal year for shareholders in machine vision company Cognex (NASDAQ: CGNX). The stock is down nearly 45% this year as the company's main end markets (automotive, consumer electronics, and logistics) have suffered in line with ongoing supply chain challenges and slowing consumer spending. If that wasn't enough, a fire at a primary contractor damaged Cognex's inventory of components; the last thing needed in the current environment of component shortages. That said, some recent developments help point to many of the reasons why the stock remains attractive for long-term growth-oriented investors.
Cognex upgrades expectations
Cognex's machine vision solutions replace the human eye in automating manufacturing and distribution processes. Examples include fitting screens on mobile phones or logistics in e-commerce warehousing. There are two reasons to feel more positive about Cognex stock, and they both speak to the long-term case for the stock. The first is management's recent upgrade to revenue expectations for its third quarter. Back in the second-quarter earnings report management gave disappointing guidance of revenue of $160 million to $180 million for the third quarter. Management put that down to "the June fire at the company's primary contract manufacturing site and lower expected revenue from e-commerce logistics."
Fast forward to the recent update, and management upgraded guidance to revenue of $195 million to $205 million. Management put the guidance increase down to its ability to deliver on customer orders "sooner than anticipated due to strong progress in replenishing component inventory destroyed in the previously disclosed fire."
Why it's good news
It highlights that the company's component shortage problems are likely to ease and speaks to its commitment to its customers. The latter is a crucial factor in a growth company's development. As a growth company trying to encourage the adoption of its machine vision technology in new markets (more on that in a moment), it makes sense to establish relationships with industry leaders, and it also makes sense to service those customers well.
There's evidence Cognex is doing both of those things. For example, its most significant consumer electronics customer is Apple, while its largest logistics customer (although undisclosed) is possibly Amazon. Establishing relationships with such companies will surely encourage the adoption of its technology among second- and third-tier players.
Furthermore, Cognex has long been proactive in servicing key customers. In 2014, management significantly increased expenses to service its large orders with Apple. That business approach was echoed in 2021. When component shortages started to bite, management prioritized delivery of chips. According to CEO Rob Willet on the fourth quarter conference call, prioritizing delivery to customers "added incremental costs in 2021, due to the significant premiums we've paid to procure components through brokers, and for expedited freight".
Upgrade to served market estimate
Second, Cognex recently upgraded its estimate for its served market to $6.2 billion from a previous estimate (given in 2019) of $4.2 billion. The new estimate breaks out its market in terms of its three key end markets, with logistics (essentially machine vision for use in e-commerce warehousing) now being its largest end market at $2 billion, automotive (Cognex's traditional end market) representing $1.5 billion, and consumer electronics adding $1.35 billion. The medical-related end market is $650 million, and "others" makes up $1 billion.
Interestingly, logistics is now, by far, Cognex's largest served market -- a significant improvement from being a distant third a few years ago. Similarly, the "others" end market is almost as large as Cognex's consumer electronics market -- suggesting there's plenty of growth potential from the adoption of machine vision in new markets.
Management estimates its current market share is only around 15%, giving it ample room to grow by taking market share and participating in end market growth of 13% over the long term. Overall, management expects to grow at a 15% rate over the long term.
Data by YCharts
What it all means to investors
While there's no guarantee that Cognex will grow at 15% over the long term -- a figure in line with the mid-teens annual revenue growth achieved over the last decade -- , the upgrade to third-quarter estimates demonstrates how lumpy the company's earnings growth can be. All it will take is automotive companies expanding electric vehicle (EV) manufacturing lines, e-commerce warehousing companies developing facilities, or consumer electronics companies introducing new product lines, and Cognex could see a few large orders. These are some factors in the thinking behind the estimate of long-term growth of 15%. Cognex now trades on a multi-year valuation low (see chart above), and despite the bad news this year, it remains an attractive growth stock option.
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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. Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Apple, and Cognex. 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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Management put the guidance increase down to its ability to deliver on customer orders "sooner than anticipated due to strong progress in replenishing component inventory destroyed in the previously disclosed fire." According to CEO Rob Willet on the fourth quarter conference call, prioritizing delivery to customers "added incremental costs in 2021, due to the significant premiums we've paid to procure components through brokers, and for expedited freight". Cognex now trades on a multi-year valuation low (see chart above), and despite the bad news this year, it remains an attractive growth stock option.
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Upgrade to served market estimate Second, Cognex recently upgraded its estimate for its served market to $6.2 billion from a previous estimate (given in 2019) of $4.2 billion. The new estimate breaks out its market in terms of its three key end markets, with logistics (essentially machine vision for use in e-commerce warehousing) now being its largest end market at $2 billion, automotive (Cognex's traditional end market) representing $1.5 billion, and consumer electronics adding $1.35 billion. All it will take is automotive companies expanding electric vehicle (EV) manufacturing lines, e-commerce warehousing companies developing facilities, or consumer electronics companies introducing new product lines, and Cognex could see a few large orders.
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Upgrade to served market estimate Second, Cognex recently upgraded its estimate for its served market to $6.2 billion from a previous estimate (given in 2019) of $4.2 billion. The new estimate breaks out its market in terms of its three key end markets, with logistics (essentially machine vision for use in e-commerce warehousing) now being its largest end market at $2 billion, automotive (Cognex's traditional end market) representing $1.5 billion, and consumer electronics adding $1.35 billion. Similarly, the "others" end market is almost as large as Cognex's consumer electronics market -- suggesting there's plenty of growth potential from the adoption of machine vision in new markets.
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If that wasn't enough, a fire at a primary contractor damaged Cognex's inventory of components; the last thing needed in the current environment of component shortages. For example, its most significant consumer electronics customer is Apple, while its largest logistics customer (although undisclosed) is possibly Amazon. The new estimate breaks out its market in terms of its three key end markets, with logistics (essentially machine vision for use in e-commerce warehousing) now being its largest end market at $2 billion, automotive (Cognex's traditional end market) representing $1.5 billion, and consumer electronics adding $1.35 billion.
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19131.0
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2022-09-28 00:00:00 UTC
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GLOBAL MARKETS-Wall Street bounces off lows as UK steps in to calm bonds
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AAPL
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https://www.nasdaq.com/articles/global-markets-wall-street-bounces-off-lows-as-uk-steps-in-to-calm-bonds-1
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nan
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nan
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By Lawrence Delevingne
Sept 28 (Reuters) - Global equities staged a partial comeback on Wednesday -- with Wall Street stocks surging around 2% -- as the Bank of England said it would step in to the bond market in an attempt to dampen investors' fears of contagion across the financial system.
The BoE said it would temporarily buy long-dated bonds - linked most closely to workers' pensions and home loans - in light of a surge in UK bond yields and related borrowing costs.
Sterling GBP=D3, which hit record lows against the dollar on Monday, was last up about 1.4% in volatile trading, while gilt prices roared higher. European government bonds also got a lift from the surge in gilts.
Investors have been rattled in the last week in particular by soaring bond yields, as central bankers have raced to raise interest rates to contain red-hot inflation before it tips the global economy into recession.
The dollar, the ultimate safe-haven in times of market turmoil, was down about 1.2%, easing from two-decade highs spurred on by yields on the benchmark 10-year Treasury US10YT=TWEB approaching 4.0% for the first time since 2008. Yields on other U.S. government bonds also declined on Wednesday.
The MSCI All-World index .MIWD00000PUS was last up about 1.3%, having pulled off a session trough that marked its lowest level since November 2020. It is still heading for a more than 7% drop in September - its biggest monthly decline since March 2020's fall of 13%.
In Europe, the STOXX 600 .STOXX and FTSE 100 .FTSE both pared losses to finish up about 0.3%.
Wall Street's rebound gained momentum over the day, with the S&P 500 Index .SPX up about 2% after it fell to a two year low on Tuesday. The Dow Jones Industrial Average .DJIalso gained 1.9% and the Nasdaq Composite .IXIC was up about 2%.
Weighing on growth stocks was Apple Inc AAPL.O, which was down about 1.3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone.
Bryce Doty, senior portfolio manager for Sit Fixed Income Advisors LLC in Minneapolis, said the UK intervention had helped calm U.S. markets, but that the "temporary stability is something of an illusion."
Doty cited the widening gap between 10-year treasury yields and 30-year mortgage rates, which he attributed to the Fed reducing its mortgage securities and the sharp inversion of the yield curve resulting from the Fed’s "aggressive determination to damage economic activity."
UK MARKETS STORM
At the heart of earlier sell-off across global markets was the British government's so-called mini-budget last week which announced a raft of tax cuts and little in the way of detail as to how those would be funded.
The International Monetary Fund and ratings agency Moody's criticised Britain's new economic strategy announced on Friday, which has sparked a collapse in the value of British assets.
Strategists at Amundi, Europe's largest asset manager, said earlier on Wednesday they believed UK assets were in for more losses, as the UK's fiscal credibility remained on the line.
"We believe risks remain tilted to the downside – given how much is already priced-in, less aggressive signalling from the BoE will accelerate the move to below parity (for sterling/dollar), in our view," strategists led by Laurent Crosnier, global head of FX, wrote, recommending investors avoid pounds.
Oil prices jumped higher on Wednesday for a second day, rebounding from recent losses as the U.S. dollar eased off recent gains and U.S. fuel inventory figures showed larger-than-expected drawdowns and a rebound in consumer demand. U.S. crude CLc1 rose 4.5% to $82.06 per barrel and Brent LCOc1 was at $89.22, up 3.4% on the day.
Scott Wren, seniorglobal marketstrategist at Wells Fargo Investment Institute, said markets may already be pricing in future pain.
"Should the economy slow and eventually fall into recession and inflation stays higher for longer, we believe financial asset prices have adjusted to reflect this likely reality," Wren wrote in a client note released on Wednesday. "Eventually, brighter skies will be on the horizon."
Britain's market rout stokes contagion fears around the globe
(Reporting by Lawrence Delevingne in Boston and Amanada Cooper in London; Additional reporting by Wayne Cole in Sydney; Editing by Matthew Lewis and Alistair Bell)
((lawrence.delevingne@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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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 1.3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne Sept 28 (Reuters) - Global equities staged a partial comeback on Wednesday -- with Wall Street stocks surging around 2% -- as the Bank of England said it would step in to the bond market in an attempt to dampen investors' fears of contagion across the financial system. "We believe risks remain tilted to the downside – given how much is already priced-in, less aggressive signalling from the BoE will accelerate the move to below parity (for sterling/dollar), in our view," strategists led by Laurent Crosnier, global head of FX, wrote, recommending investors avoid pounds.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 1.3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne Sept 28 (Reuters) - Global equities staged a partial comeback on Wednesday -- with Wall Street stocks surging around 2% -- as the Bank of England said it would step in to the bond market in an attempt to dampen investors' fears of contagion across the financial system. Strategists at Amundi, Europe's largest asset manager, said earlier on Wednesday they believed UK assets were in for more losses, as the UK's fiscal credibility remained on the line.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 1.3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne Sept 28 (Reuters) - Global equities staged a partial comeback on Wednesday -- with Wall Street stocks surging around 2% -- as the Bank of England said it would step in to the bond market in an attempt to dampen investors' fears of contagion across the financial system. Oil prices jumped higher on Wednesday for a second day, rebounding from recent losses as the U.S. dollar eased off recent gains and U.S. fuel inventory figures showed larger-than-expected drawdowns and a rebound in consumer demand.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 1.3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne Sept 28 (Reuters) - Global equities staged a partial comeback on Wednesday -- with Wall Street stocks surging around 2% -- as the Bank of England said it would step in to the bond market in an attempt to dampen investors' fears of contagion across the financial system. Yields on other U.S. government bonds also declined on Wednesday.
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19132.0
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2022-09-28 00:00:00 UTC
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US STOCKS-Wall Street ends sharply higher as Treasury yields dip
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-sharply-higher-as-treasury-yields-dip-0
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nan
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nan
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By Noel Randewich and Shreyashi Sanyal
Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones.
The S&P 500 recorded its first gain in seven sessions after closing on Tuesday at its lowest since late 2020.
Interest rate-sensitive megacaps Microsoft MSFT.O, Amazon AMZN.O and Meta Platforms META.O rallied as the yield on 10-year Treasury notes fell over 0.26 percentage point in its biggest one-day drop since 2009. US/GVD/EUR
Pushing yields lower on Treasuries with maturities six months and longer, the Bank of England said it would buy long-dated British bonds in a move aimed at restoring financial stability in markets rocked globally by the fiscal policy of the new government in London.
"The yield on the two-year Treasury has gone up persistently over the course of the last several weeks, and for the first time we've seen it go down for two days in a row, and that has given equities a breather," said Art Hogan, chief market strategist at B. Riley Wealth.
Investors have been keenly listening to comments from Federal Reserve officials about the path of monetary policy, with Atlanta Fed President Raphael Bostic on Wednesday backing another 75-basis-point interest rate hike in November.
The Fed will likely get borrowing costs to where they need to be by early next year, Federal Reserve Bank of Chicago President Charles Evans said.
U.S. stocks have been battered in 2022 by worries that an aggressive push by the Fed to raise borrowing costs could throw the economy into a downturn.
Apple Inc AAPL.O dropped 1.3% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize.
Apple has been a relative outperformer in 2022's stock market sell-off, down about 15% in the year to date, versus the S&P 500's 22% loss.
All of the 11 S&P 500 sector indexes rose, led by a 4.4% jump in energy .SPNY and a 3.2% leap in communication services .SPLRCL.
The Dow Jones Industrial Average .DJI rose 1.88% to end at 29,683.74 points, while the S&P 500 .SPX gained 1.97% to 3,719.04. It was the S&P 500's largest one-day gain since Aug. 10.
The Nasdaq Composite .IXIC jumped 2.05% to 11,051.64.
Biogen Inc BIIB.O surged 40% after saying its experimental Alzheimer's drug, developed with Japanese partner Eisai Co Ltd 4523.T, succeeded in slowing cognitive decline.
Eli Lilly & Co LLY.N, which is also developing an Alzheimer's drug, jumped 7.5%, and it was among the biggest boosts to the S&P 500 index.
Advancing issues outnumbered declining ones on the NYSE by a 5.82-to-1 ratio; on Nasdaq, a 3.66-to-1 ratio favored advancers.
The S&P 500 posted one new 52-week high and 30 new lows; the Nasdaq Composite recorded 26 new highs and 224 new lows.
Volume on U.S. exchanges was 11.7 billion shares, compared with an 11.4 billion average for the full session over the last 20 trading days.
Every S&P 500 stock's performance in Septemberhttps://tmsnrt.rs/3UJ7c4a
(Reporting by Noel Randewich in San Francisco and Shreyashi Sanyal, Susan Mathew and Ankika Biswas in Bengaluru; Editing by Vinay Dwivedi, Arun Koyyur and Jonathan Oatis)
((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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Apple Inc AAPL.O dropped 1.3% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones. US/GVD/EUR Pushing yields lower on Treasuries with maturities six months and longer, the Bank of England said it would buy long-dated British bonds in a move aimed at restoring financial stability in markets rocked globally by the fiscal policy of the new government in London.
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Apple Inc AAPL.O dropped 1.3% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones. The Fed will likely get borrowing costs to where they need to be by early next year, Federal Reserve Bank of Chicago President Charles Evans said.
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Apple Inc AAPL.O dropped 1.3% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones. Interest rate-sensitive megacaps Microsoft MSFT.O, Amazon AMZN.O and Meta Platforms META.O rallied as the yield on 10-year Treasury notes fell over 0.26 percentage point in its biggest one-day drop since 2009.
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Apple Inc AAPL.O dropped 1.3% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones. It was the S&P 500's largest one-day gain since Aug. 10.
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19133.0
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2022-09-28 00:00:00 UTC
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After Hours Most Active for Sep 28, 2022 : IGSB, O, DM, QQQ, AAPL, UBER, GOOGL, AMX, FDMT, EB, TWTR, JBLU
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-sep-28-2022-%3A-igsb-o-dm-qqq-aapl-uber-googl-amx-fdmt-eb-twtr
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nan
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nan
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The NASDAQ 100 After Hours Indicator is down -10 to 11,483.83. The total After hours volume is currently 85,250,981 shares traded.
The following are the most active stocks for the after hours session:
iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) is -0.0719 at $49.46, with 4,910,350 shares traded. This represents a .79% increase from its 52 Week Low.
Realty Income Corporation (O) is -0.09 at $60.28, with 4,451,879 shares traded. As reported by Zacks, the current mean recommendation for O is in the "buy range".
Desktop Metal, Inc. (DM) is -0.02 at $2.67, with 3,628,404 shares traded. As reported by Zacks, the current mean recommendation for DM is in the "buy range".
Invesco QQQ Trust, Series 1 (QQQ) is -0.18 at $279.76, with 3,148,615 shares traded. This represents a 3.89% increase from its 52 Week Low.
Apple Inc. (AAPL) is -0.23 at $149.61, with 2,161,442 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Uber Technologies, Inc. (UBER) is +0.01 at $28.05, with 2,085,424 shares traded. As reported by Zacks, the current mean recommendation for UBER is in the "buy range".
Alphabet Inc. (GOOGL) is -0.05 at $100.00, with 2,053,564 shares traded. As reported by Zacks, the current mean recommendation for GOOGL is in the "buy range".
America Movil, S.A.B. de C.V. (AMX) is unchanged at $17.92, with 2,008,240 shares traded. As reported by Zacks, the current mean recommendation for AMX is in the "buy range".
4D Molecular Therapeutics, Inc. (FDMT) is unchanged at $8.97, with 1,998,684 shares traded. As reported in the last short interest update the days to cover for FDMT is 7.734705; this calculation is based on the average trading volume of the stock.
Eventbrite, Inc. (EB) is unchanged at $6.59, with 1,877,708 shares traded. EB's current last sale is 50.69% of the target price of $13.
Twitter, Inc. (TWTR) is +0.07 at $43.32, with 1,738,379 shares traded. TWTR's current last sale is 100.74% of the target price of $43.
JetBlue Airways Corporation (JBLU) is +0.04 at $6.93, with 1,642,703 shares traded. JBLU's current last sale is 69.3% of the target price of $10.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is -0.23 at $149.61, with 2,161,442 shares traded. iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB) is -0.0719 at $49.46, with 4,910,350 shares traded.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is -0.23 at $149.61, with 2,161,442 shares traded. The total After hours volume is currently 85,250,981 shares traded.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is -0.23 at $149.61, with 2,161,442 shares traded. The total After hours volume is currently 85,250,981 shares traded.
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As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". Apple Inc. (AAPL) is -0.23 at $149.61, with 2,161,442 shares traded. As reported by Zacks, the current mean recommendation for DM is in the "buy range".
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19134.0
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2022-09-28 00:00:00 UTC
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US STOCKS-Dow, S&P 500 cling to gains on lower yields, Apple slides
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AAPL
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https://www.nasdaq.com/articles/us-stocks-dow-sp-500-cling-to-gains-on-lower-yields-apple-slides
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nan
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nan
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By Shreyashi Sanyal and Ankika Biswas
Sept 28 (Reuters) - The Dow and the S&P 500 indexes gained in volatile trading on Wednesday as easing Treasury yields gently lifted rate-sensitive growth stocks, while losses in Apple Inc after it dropped plans to boost iPhone production weighed on the Nasdaq.
Equity markets also got a boost from a Bank of England decision to restore financial stability by buying as many long-dated government bonds as needed. The move lifted British bond prices and pushed global benchmark yields lower. GB/
The yield on the U.S. 10-year Treasury bill US10YT=TWEB came off 12-year highs to hit the day's low of 3.809% by 10:02 a.m. ET, while Germany's 10-year government bond yield DE10YT=RR, the benchmark for the euro zone, fell after touching a 11-year high. US/GVD/EUR
"Yields now are approaching the Fed's desired target level of 4 and 4.5%. So once that happens, we should see yields beginning to level off and that should boost equity prices," said Peter Cardillo, chief market economist, Spartan Capital Securities LLC.
Investors will also pay attention to comments from a slew of Fed officials, including Fed Chair Jerome Powell.
Shares of the world's most valuable public company AAPL.O lost 3.94% after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year.
Among the 11 S&P 500 sector indexes, technology .SPLRCT was the sole decliner, down 1.2%.
"Apple has got so many pieces and any weakness in Apple demand has big knock-on impacts on many spaces, so chips, processing and the outlook for retail sales even," said Patrick Armstrong, chief investment officer at Plurimi Wealth.
Chipmakers Advanced Micro Devices AMD.O, Qualcomm Inc QCOM.O Nvidia Corp NVDA.O and Micron Tech MU.O were down between 0.3% and 1.9%.
Apple's production cut added fuel to investor worries about the U.S. Federal Reserve's push to aggressively increase borrowing costs to tame stubbornly high inflation even at the risk of slowing down economic growth.
At 10:02 a.m. ET, the Dow Jones Industrial Average .DJI was up 75.70 points, or 0.26%, at 29,210.69, the S&P 500 .SPX was up 8.09 points, or 0.22%, at 3,655.38, and the Nasdaq Composite .IXIC was down 12.06 points, or 0.11%, at 10,817.44.
Helping cut some declines on the Nasdaq, Biogen BIIB.O shares surged 35.8% after its Alzheimer's drug, developed with Japanese partner Eisai 4523.T, succeeded in slowing cognitive decline.
Eli Lilly & Co LLY.N, which is also developing an Alzheimer's drug, rose 7.7% and was the biggest boost to the S&P 500 index.
The CBOE Volatility Index .VIX, also commonly known as Wall Street's fear gauge, tested 34.88 points, its highest level since June 13.
In the previous session, Wall Street's main indexes sank deeper into a bear market, with the S&P 500 recording its lowest close in almost two years on rate hike worries.
Advancing issues outnumbered decliners by a 3.55-to-1 ratio on the NYSE and by a 2.45-to-1 ratio on the Nasdaq.
The S&P index recorded one new 52-week high and 29 new lows, while the Nasdaq recorded 16 new highs and 140 new lows.
(Reporting by Shreyashi Sanyal, Susan Mathew and Ankika Biswas in Bengaluru; Editing by Vinay Dwivedi and Arun Koyyur)
((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 the world's most valuable public company AAPL.O lost 3.94% after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year. By Shreyashi Sanyal and Ankika Biswas Sept 28 (Reuters) - The Dow and the S&P 500 indexes gained in volatile trading on Wednesday as easing Treasury yields gently lifted rate-sensitive growth stocks, while losses in Apple Inc after it dropped plans to boost iPhone production weighed on the Nasdaq. Apple's production cut added fuel to investor worries about the U.S. Federal Reserve's push to aggressively increase borrowing costs to tame stubbornly high inflation even at the risk of slowing down economic growth.
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Shares of the world's most valuable public company AAPL.O lost 3.94% after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year. The move lifted British bond prices and pushed global benchmark yields lower. Helping cut some declines on the Nasdaq, Biogen BIIB.O shares surged 35.8% after its Alzheimer's drug, developed with Japanese partner Eisai 4523.T, succeeded in slowing cognitive decline.
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Shares of the world's most valuable public company AAPL.O lost 3.94% after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year. By Shreyashi Sanyal and Ankika Biswas Sept 28 (Reuters) - The Dow and the S&P 500 indexes gained in volatile trading on Wednesday as easing Treasury yields gently lifted rate-sensitive growth stocks, while losses in Apple Inc after it dropped plans to boost iPhone production weighed on the Nasdaq. Helping cut some declines on the Nasdaq, Biogen BIIB.O shares surged 35.8% after its Alzheimer's drug, developed with Japanese partner Eisai 4523.T, succeeded in slowing cognitive decline.
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Shares of the world's most valuable public company AAPL.O lost 3.94% after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year. ET, while Germany's 10-year government bond yield DE10YT=RR, the benchmark for the euro zone, fell after touching a 11-year high. Helping cut some declines on the Nasdaq, Biogen BIIB.O shares surged 35.8% after its Alzheimer's drug, developed with Japanese partner Eisai 4523.T, succeeded in slowing cognitive decline.
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19135.0
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2022-09-28 00:00:00 UTC
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Markets Rip Higher on Bank of England Signifier
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AAPL
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https://www.nasdaq.com/articles/markets-rip-higher-on-bank-of-england-signifier
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nan
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nan
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Markets ripped higher this Hump Day, though all major indices begged off session highs mere minutes before the closing bell. Part of this was quelling a six-day sell-off, which had been based on recession fears regarding the Fed’s hawkish behavior presently and presumably going forward. But part of it stems from a new sliver of positive light shining through the shards: the Bank of England (BoE) stepped into reverse course when things in the UK were starting to go south.
To recap: here in the States, we woke up to a BoE announcement that “significant repricing” of UK and global assets was now in order, following a steep slide in the British pound versus the U.S. dollar, and as the new government was planning to issue tax cuts at a time when such moves are enormously unpopular among the world’s most important economies; even the Bank of Japan recently decided to step in and backstop the yen, which almost never happens.
This caused a surge in gilt yields in the UK not seen since the 1950s, bringing the pound back up to 2008 levels. But more importantly to the U.S. stock market investor, this move by the central bank gives Americans a clue that Fed Chair Powell & Co. could step in and reverse interest rate tightening if economic trends are tipping into deep-recession mode sometime in the (near?) future. Which allows a measure of relief to those market participants believing we were on a sinking rowboat with a blind captain…
Anyway, the Dow shot back +547 points, +1.88% on the day, while the Nasdaq grew +222 points or +2.05%. The S&P split the difference, +1.97%, and the small-cap Russell 2000 had its biggest day since March, +3.57% in today’s session alone. All 11 sectors on the S&P made gains, led by Energy and Communications. On the Dow, only Apple AAPL and Procter & Gamble PG finished the day lower. All major indices are still down -7.50-8.00% over the past month, but it was a nice bounce today nonetheless.
We should also note that, along with equities screaming lower over the past two trading weeks, Treasury bond yields — on the 2-year and 10-year, especially — had been growing more inflamed. They’ve cooled notably today, while keeping their inverted margin intact: 10-year yields were at 3.73% and 2-years were 4.13%. Keep in mind just yesterday 2-years had crept north of 4.3% for a time, with some threat of moving higher. At least for today, that fever appears to have broken.
Finally, Pending Home Sales for August dropped by a steeper rate than expected: -2.0% versus -1.4% consensus and the more deeply revised -1.0% for July. The -24.2% drop year over year on sales of pending homes in the biggest decrease annually since April 2020, at the initial downward thrust of the Covid pandemic. Yesterday, we saw New Home Sales shoot in the opposite direction, +28.8% to their highest level since March of this year.
That was contrary to lots of other housing data we’ve seen of late, and continues to be an outlier with pending home sales sinking further. Ultimately, this is the sort of thing the Fed needs to see consistently for it to change its collective mind on interest rate hikes, which have gone up 75 basis points (bps) for three sessions in a row, going back to June. The Fed skips October but comes back November 2nd for its next move; lower inflation data across the board is about the only thing to keep the next move from being 75 bps once again.
Questions or comments about this article and/or its author? Click 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
Procter & Gamble Company The (PG): Free Stock Analysis Report
Invesco QQQ (QQQ): ETF Research Reports
SPDR S&P 500 ETF (SPY): ETF Research Reports
SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On the Dow, only Apple AAPL and Procter & Gamble PG finished the day lower. Apple Inc. (AAPL): Free Stock Analysis Report To recap: here in the States, we woke up to a BoE announcement that “significant repricing” of UK and global assets was now in order, following a steep slide in the British pound versus the U.S. dollar, and as the new government was planning to issue tax cuts at a time when such moves are enormously unpopular among the world’s most important economies; even the Bank of Japan recently decided to step in and backstop the yen, which almost never happens.
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On the Dow, only Apple AAPL and Procter & Gamble PG finished the day lower. Apple Inc. (AAPL): Free Stock Analysis Report Procter & Gamble Company The (PG): Free Stock Analysis Report
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On the Dow, only Apple AAPL and Procter & Gamble PG finished the day lower. Apple Inc. (AAPL): Free Stock Analysis Report To recap: here in the States, we woke up to a BoE announcement that “significant repricing” of UK and global assets was now in order, following a steep slide in the British pound versus the U.S. dollar, and as the new government was planning to issue tax cuts at a time when such moves are enormously unpopular among the world’s most important economies; even the Bank of Japan recently decided to step in and backstop the yen, which almost never happens.
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On the Dow, only Apple AAPL and Procter & Gamble PG finished the day lower. Apple Inc. (AAPL): Free Stock Analysis Report Yesterday, we saw New Home Sales shoot in the opposite direction, +28.8% to their highest level since March of this year.
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19136.0
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2022-09-28 00:00:00 UTC
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What's Going On With Apple?
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AAPL
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https://www.nasdaq.com/articles/whats-going-on-with-apple
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nan
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nan
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In a market-moving announcement this morning, it was revealed that Apple AAPL, one of the most widely-held stocks, has witnessed demand at a level less than initially expected.
Needless to say, it’s a massive development.
The increased demand expected for the newest iPhone on the block, the iPhone 14, has yet to show.
Now, with demand caving in, the tech titan has slashed its original plans to ramp up the production of its legendary product.
Of course, investors were spooked; Apple shares experienced adverse price action in pre-market trading, spoiling the fun.
With Apple being the largest holding in the S&P 500, the negative reaction has played spoilsport in a primarily green market today.
Let’s take a closer look into how the legendary technology titan currently stacks up.
Share Performance & Valuation
Year-to-date, it’s been a rough ride for AAPL shares, down roughly 16%. Still, the performance widely outperforms its Zacks Computer & Technology Sector, which is down more than 30%.
Image Source: Zacks Investment Research
However, Apple has been a stellar investment even after the rocky 2022, up a triple-digit 170% over the last three years and crushing its Zacks Sector’s performance.
Image Source: Zacks Investment Research
Still, Apple shares may not entice value-focused investors, bolstered by its Style Score of a D for Value.
Further, the company’s 24.9X forward earnings multiple is well above the five-year median of 22.9X and reflects a somewhat rich 20% premium relative to its Zacks Sector.
Image Source: Zacks Investment Research
King of Cash Flow
Apple is the undisputed heavyweight champion of free cash flow – AAPL reported the highest quarterly free cash flow of any S&P 500 company in Q2.
The tech titan’s free cash flow was reported at a stellar $20.8 billion, good enough for a solid 9.4% uptick from year-ago quarterly free cash flow of $19 billion.
Apple has a very favorable free cash flow trend, as seen in the chart below.
Image Source: Zacks Investment Research
The company’s free cash flow speaks volumes about its financial health, telling us it can easily wipe out debt and fuel growth.
Quarterly Performance
Apple has a mighty-strong earnings track record; the company has exceeded the Zacks Consensus EPS Estimate in 19 of its previous 20 quarters. Just in its latest print, the mega-cap giant posted a 5.3% bottom-line beat.
Top-line results paint precisely the same positive story; AAPL has exceeded the Zacks Consensus Sales estimate in 19 of its last 20 quarters.
Below is a chart illustrating the company’s revenue on a quarterly basis.
Image Source: Zacks Investment Research
Small Income Stream
Dividends are a significant perk that all investors love. After all, there are few things sweeter than receiving income from your investments.
Apple’s 0.6% annual dividend yield is undoubtedly underwhelming, below its Zacks Computer and Technology Sector average of 0.9%.
Image Source: Zacks Investment Research
Still, while the yield may be low, the company carries a strong 7.7% five-year annualized dividend growth rate.
Bottom Line
While the recent news of expected demand faltering is disheartening, the company is still positioned nicely with its free cash flow strength and its strong earnings track record.
Further, Apple shares have displayed inspiring relative strength year-to-date, even after today’s hiccup.
Still, the company’s valuation levels don’t appeal to value-focused investors, typical of many technology stocks.
Apple AAPL is a Zacks Rank #3 (Hold) paired with an overall VGM Score of a B.
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
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In a market-moving announcement this morning, it was revealed that Apple AAPL, one of the most widely-held stocks, has witnessed demand at a level less than initially expected. Share Performance & Valuation Year-to-date, it’s been a rough ride for AAPL shares, down roughly 16%. Image Source: Zacks Investment Research King of Cash Flow Apple is the undisputed heavyweight champion of free cash flow – AAPL reported the highest quarterly free cash flow of any S&P 500 company in Q2.
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Image Source: Zacks Investment Research King of Cash Flow Apple is the undisputed heavyweight champion of free cash flow – AAPL reported the highest quarterly free cash flow of any S&P 500 company in Q2. In a market-moving announcement this morning, it was revealed that Apple AAPL, one of the most widely-held stocks, has witnessed demand at a level less than initially expected. Share Performance & Valuation Year-to-date, it’s been a rough ride for AAPL shares, down roughly 16%.
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Image Source: Zacks Investment Research King of Cash Flow Apple is the undisputed heavyweight champion of free cash flow – AAPL reported the highest quarterly free cash flow of any S&P 500 company in Q2. In a market-moving announcement this morning, it was revealed that Apple AAPL, one of the most widely-held stocks, has witnessed demand at a level less than initially expected. Share Performance & Valuation Year-to-date, it’s been a rough ride for AAPL shares, down roughly 16%.
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Apple Inc. (AAPL): Free Stock Analysis Report In a market-moving announcement this morning, it was revealed that Apple AAPL, one of the most widely-held stocks, has witnessed demand at a level less than initially expected. Share Performance & Valuation Year-to-date, it’s been a rough ride for AAPL shares, down roughly 16%.
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19137.0
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2022-09-28 00:00:00 UTC
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Noteworthy Wednesday Option Activity: NNOX, AAPL, LAZR
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AAPL
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-nnox-aapl-lazr
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Nano-X Imaging Ltd (Symbol: NNOX), where a total of 20,925 contracts have traded so far, representing approximately 2.1 million underlying shares. That amounts to about 583.5% of NNOX's average daily trading volume over the past month of 358,585 shares. Especially high volume was seen for the $12 strike call option expiring September 30, 2022, with 11,180 contracts trading so far today, representing approximately 1.1 million underlying shares of NNOX. Below is a chart showing NNOX's trailing twelve month trading history, with the $12 strike highlighted in orange:
Apple Inc (Symbol: AAPL) options are showing a volume of 1.9 million contracts thus far today. That number of contracts represents approximately 191.3 million underlying shares, working out to a sizeable 206.7% of AAPL's average daily trading volume over the past month, of 92.5 million shares. Particularly high volume was seen for the $150 strike call option expiring September 30, 2022, with 132,821 contracts trading so far today, representing approximately 13.3 million underlying shares of AAPL. Below is a chart showing AAPL's trailing twelve month trading history, with the $150 strike highlighted in orange:
And Luminar Technologies Inc (Symbol: LAZR) saw options trading volume of 94,919 contracts, representing approximately 9.5 million underlying shares or approximately 140.3% of LAZR's average daily trading volume over the past month, of 6.8 million shares. Especially high volume was seen for the $7.50 strike put option expiring October 07, 2022, with 30,440 contracts trading so far today, representing approximately 3.0 million underlying shares of LAZR. Below is a chart showing LAZR's trailing twelve month trading history, with the $7.50 strike highlighted in orange:
For the various different available expirations for NNOX options, AAPL options, or LAZR options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $150 strike call option expiring September 30, 2022, with 132,821 contracts trading so far today, representing approximately 13.3 million underlying shares of AAPL. Below is a chart showing NNOX's trailing twelve month trading history, with the $12 strike highlighted in orange: Apple Inc (Symbol: AAPL) options are showing a volume of 1.9 million contracts thus far today. That number of contracts represents approximately 191.3 million underlying shares, working out to a sizeable 206.7% of AAPL's average daily trading volume over the past month, of 92.5 million shares.
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Below is a chart showing NNOX's trailing twelve month trading history, with the $12 strike highlighted in orange: Apple Inc (Symbol: AAPL) options are showing a volume of 1.9 million contracts thus far today. Below is a chart showing AAPL's trailing twelve month trading history, with the $150 strike highlighted in orange: And Luminar Technologies Inc (Symbol: LAZR) saw options trading volume of 94,919 contracts, representing approximately 9.5 million underlying shares or approximately 140.3% of LAZR's average daily trading volume over the past month, of 6.8 million shares. That number of contracts represents approximately 191.3 million underlying shares, working out to a sizeable 206.7% of AAPL's average daily trading volume over the past month, of 92.5 million shares.
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Below is a chart showing AAPL's trailing twelve month trading history, with the $150 strike highlighted in orange: And Luminar Technologies Inc (Symbol: LAZR) saw options trading volume of 94,919 contracts, representing approximately 9.5 million underlying shares or approximately 140.3% of LAZR's average daily trading volume over the past month, of 6.8 million shares. Below is a chart showing NNOX's trailing twelve month trading history, with the $12 strike highlighted in orange: Apple Inc (Symbol: AAPL) options are showing a volume of 1.9 million contracts thus far today. That number of contracts represents approximately 191.3 million underlying shares, working out to a sizeable 206.7% of AAPL's average daily trading volume over the past month, of 92.5 million shares.
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Below is a chart showing AAPL's trailing twelve month trading history, with the $150 strike highlighted in orange: And Luminar Technologies Inc (Symbol: LAZR) saw options trading volume of 94,919 contracts, representing approximately 9.5 million underlying shares or approximately 140.3% of LAZR's average daily trading volume over the past month, of 6.8 million shares. Below is a chart showing LAZR's trailing twelve month trading history, with the $7.50 strike highlighted in orange: For the various different available expirations for NNOX options, AAPL options, or LAZR options, visit StockOptionsChannel.com. Below is a chart showing NNOX's trailing twelve month trading history, with the $12 strike highlighted in orange: Apple Inc (Symbol: AAPL) options are showing a volume of 1.9 million contracts thus far today.
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19138.0
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2022-09-28 00:00:00 UTC
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US STOCKS-Wall Street ends sharply higher as Treasury yields dip
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-sharply-higher-as-treasury-yields-dip
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nan
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nan
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By Noel Randewich and Shreyashi Sanyal
Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones.
The strong gains came after the S&P 500 on Tuesday closed at its lowest since late 2020, dragging U.S. stocks further into bear market territory.
Interest rate-sensitive megacaps Microsoft MSFT.O, Amazon AMZN.O and Meta Platforms META.O rallied for much of the session as the yield on 10-year Treasury notes fell over 0.26 percentage point in its biggest one-day drop since 2009. US/GVD/EUR
Also pushing yields lower on Treasuries with maturities six months and longer, the Bank of England said it would buy long-dated British bonds in a move aimed at restoring financial stability in markets rocked globally by the fiscal policy of the new government in London.
"The yield on the two-year Treasury has gone up persistently over the course of the last several weeks, and for the first time we've seen it go down for two days in a row, and that has given equities a breather," said Art Hogan, chief market strategist at B. Riley Wealth.
Investors have been keenly listening to comments from Federal Reserve officials about the path of monetary policy, with Atlanta Fed President Raphael Bostic on Wednesday backing another 75-basis-point interest rate hike in November.
The Fed will likely get borrowing costs to where they need to be by early next year, Federal Reserve Bank of Chicago President Charles Evans said.
U.S. stocks have been battered in 2022 by worries that an aggressive push by the Fed to raise borrowing costs could throw the economy into a downturn.
Apple Inc AAPL.O dropped after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize.
Apple has been a relative outperformer in 2022's stock market sell-off, down about 16% in the year to date, versus the S&P 500's 22% loss.
On Wednesday, energy .SPNY and communication services .SPLRCL were among top-performing S&P 500 sector indexes.
According to preliminary data, the S&P 500 .SPX gained 71.20 points, or 1.95%, to end at 3,718.49 points, while the Nasdaq Composite .IXIC gained 218.56 points, or 2.02%, to 11,048.06. The Dow Jones Industrial Average .DJI rose 551.15 points, or 1.89%, to 29,686.14.
Biogen Inc BIIB.O surged after saying its experimental Alzheimer's drug, developed with Japanese partner Eisai Co Ltd 4523.T, succeeded in slowing cognitive decline.
Eli Lilly & Co LLY.N, which is also developing an Alzheimer's drug, also jumped, and it was among the biggest boosts to the S&P 500 index.
Every S&P 500 stock's performance in Septemberhttps://tmsnrt.rs/3UJ7c4a
(Reporting by Noel Randewich in San Francisco and Shreyashi Sanyal, Susan Mathew and Ankika Biswas in Bengaluru; Editing by Vinay Dwivedi, Arun Koyyur and Jonathan Oatis)
((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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Apple Inc AAPL.O dropped after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones. US/GVD/EUR Also pushing yields lower on Treasuries with maturities six months and longer, the Bank of England said it would buy long-dated British bonds in a move aimed at restoring financial stability in markets rocked globally by the fiscal policy of the new government in London.
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Apple Inc AAPL.O dropped after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones. The Fed will likely get borrowing costs to where they need to be by early next year, Federal Reserve Bank of Chicago President Charles Evans said.
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Apple Inc AAPL.O dropped after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones. According to preliminary data, the S&P 500 .SPX gained 71.20 points, or 1.95%, to end at 3,718.49 points, while the Nasdaq Composite .IXIC gained 218.56 points, or 2.02%, to 11,048.06.
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Apple Inc AAPL.O dropped after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones. The Fed will likely get borrowing costs to where they need to be by early next year, Federal Reserve Bank of Chicago President Charles Evans said.
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19139.0
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2022-09-28 00:00:00 UTC
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Apple falls on fears of slowing iPhone 14 demand
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AAPL
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https://www.nasdaq.com/articles/apple-falls-on-fears-of-slowing-iphone-14-demand
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nan
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nan
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By Medha Singh and Nivedita Balu
Sept 28 (Reuters) - Apple Inc AAPL.O shares fell more than 4% on Wednesday after a report that the tech giant was ditching its plans to boost production of the latest iPhone fueled demand worries.
Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand.
Shares of the world's most valuable public company opened at a two-month low of $147.64and were the biggest drag on the blue-chip Dow Jones Industrial Average Index .DJI. .N
"Weaker consumer demand is to be expected when utility bills are going up, interest rates are going up, mortgage costs are going higher ... discretionary spending is going to be curtailed by that," said Patrick Armstrong, chief investment officer at Plurimi Wealth in London.
Analysts said iPhone 14's Pro and Pro Max versions were selling at a brisk pace, although demand for the base model, typically Apple's best seller, was underwhelming.
Apart from satellite connectivity and crash detection features, the iPhone 14 model looks and feels similar to its previous iteration, although it sells for $100 more at $799 for the base version. The Pro models, which start at $999, come with fresher upgrades.
Prospective iPhone 14 buyers may opt for iPhone 13, given the hefty discount on the older model, said Abhilash Kumar of data research firm Strategy Analytics.
Wedbush analysts said the product mix has heavily shifted toward Pro, pushing wait times into early November for some models, and that Apple could be shifting production from the base model to Pro across Asia ahead of the holiday season.
Shares of Apple suppliers Qualcomm QCOM.O, Taiwan Semiconductor TSM.N, STMicroelectronics STM.MI, Infineon IFXGn.DE and ASML ASML.AS were also trading lower on the news.
(Reporting by Medha Singh, Susan Mathew and Nivedita Balu in Bengaluru; Editing by Anil D'Silva)
((Medha.Singh@thomsonreuters.com; +91 80 6210 0592; Twitter: https://twitter.com/medhasinghs;))
The views and 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 Medha Singh and Nivedita Balu Sept 28 (Reuters) - Apple Inc AAPL.O shares fell more than 4% on Wednesday after a report that the tech giant was ditching its plans to boost production of the latest iPhone fueled demand worries. Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand. .N "Weaker consumer demand is to be expected when utility bills are going up, interest rates are going up, mortgage costs are going higher ... discretionary spending is going to be curtailed by that," said Patrick Armstrong, chief investment officer at Plurimi Wealth in London.
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By Medha Singh and Nivedita Balu Sept 28 (Reuters) - Apple Inc AAPL.O shares fell more than 4% on Wednesday after a report that the tech giant was ditching its plans to boost production of the latest iPhone fueled demand worries. Analysts said iPhone 14's Pro and Pro Max versions were selling at a brisk pace, although demand for the base model, typically Apple's best seller, was underwhelming. Wedbush analysts said the product mix has heavily shifted toward Pro, pushing wait times into early November for some models, and that Apple could be shifting production from the base model to Pro across Asia ahead of the holiday season.
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By Medha Singh and Nivedita Balu Sept 28 (Reuters) - Apple Inc AAPL.O shares fell more than 4% on Wednesday after a report that the tech giant was ditching its plans to boost production of the latest iPhone fueled demand worries. Analysts said iPhone 14's Pro and Pro Max versions were selling at a brisk pace, although demand for the base model, typically Apple's best seller, was underwhelming. Wedbush analysts said the product mix has heavily shifted toward Pro, pushing wait times into early November for some models, and that Apple could be shifting production from the base model to Pro across Asia ahead of the holiday season.
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By Medha Singh and Nivedita Balu Sept 28 (Reuters) - Apple Inc AAPL.O shares fell more than 4% on Wednesday after a report that the tech giant was ditching its plans to boost production of the latest iPhone fueled demand worries. Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand. Analysts said iPhone 14's Pro and Pro Max versions were selling at a brisk pace, although demand for the base model, typically Apple's best seller, was underwhelming.
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19140.0
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2022-09-28 00:00:00 UTC
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GLOBAL MARKETS-Wall Street bounces off lows as UK steps in to calm bonds
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AAPL
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https://www.nasdaq.com/articles/global-markets-wall-street-bounces-off-lows-as-uk-steps-in-to-calm-bonds
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nan
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nan
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By Lawrence Delevingne and Amanda Cooper
Sept 28 (Reuters) - U.S. and global equities staged a mild comeback on Wednesday as the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors fears of contagion across the financial system.
The BoE said it would temporarily buy long-dated bonds - linked most closely to workers' pensions and home loans - in light of a surge in 30-year UK bond yields above 5%, their highest since 2002.
Sterling, which hit record lows against the dollar on Monday, was last down 0.1%, whipsawed in volatile trade, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic.
European government bonds got a lift from the surge in gilts.
Investors have been rattled in the last week in particular by soaring bond yields, as central bankers have raced to raise interest rates to contain red-hot inflation before it tips the global economy into recession.
The dollar, the ultimate safe-haven in times of market turmoil, was down 0.33%, still near its highest in two decades, spurred on by yields on the benchmark 10-year Treasury US10YT=TWEB approaching 4.0% for the first time since 2008. FEDWATCH
The pound briefly fell by as much as 1% after the BoE's announcement, while UK stocks cut losses to rise about 0.2%, which in turn helped the broader European equity market avoid deeper falls.
"The surge in bond yields threatens the housing market and broader economy. But the BoE still has to raise the policy rate," Kenneth Broux, Societe Generale currency strategist, said.
"You also have the contagion element. The IMF and the U.S. Treasury waded in yesterday in fear of global contagion from gilts to other markets," he said.
The International Monetary Fund (IMF) and ratings agency Moody's criticised Britain's new economic strategy announced on Friday, which has sparked a collapse in the value of British assets.
The MSCI All-World index .MIWD00000PUS was last up about 0.5%, having pulled off a session trough that marked its lowest since November 2020. It is heading for a nearly 9% drop in September - its biggest monthly decline since March 2020's 13% fall.
In Europe, the STOXX 600 .STOXX and FTSE 100 .FTSE both pared losses to trade flat on the day.
Wall Street opened higher, with the S&P 500 Index .SPX up about 1% after it fell to a two year low on Tuesday. The Dow Jones Industrial Average .DJI and the Nasdaq Composite .IXIC also gained around 1%.
Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone.
Scott Wren, Senior Global Market Strategist at Wells Fargo Investment Institute, said markets may already be pricing in future pain.
"Should the economy slow and eventually fall into recession and inflation stays higher for longer, we believe financial asset prices have adjusted to reflect this likely reality," Wren wrote in a client note released Wednesday. "Eventually, brighter skies will be on the horizon."
KEEP CALM AND DON'T BUY STERLING
At the heart of this week's sell-off across global markets is the British government's so-called "mini-budget" last week that announced a raft of tax cuts and little in the way of detail as to how those would be funded.
Gilt prices have plunged and the pound has hit record lows as a result.
Sterling was little changed at $1.073 GBP=D3, still above Monday's record trough of $1.0327 but set for its biggest monthly slide since the Brexit vote in June 2016.
Strategists at Amundi, Europe's largest asset manager, said earlier on Wednesday they believed UK assets were in for more losses, as the UK's fiscal credibility remained on the line.
"We believe risks remain tilted to the downside – given how much is already priced-in, less aggressive signalling from the BoE will accelerate the move to below parity (for sterling/dollar), in our view," strategists led by Laurent Crosnier, global head of FX, wrote, recommending investors avoid pounds.
The safe-haven dollar has been a major beneficiary from the rout in sterling, falling 0.3% on Wednesday but still near a 20-year peak at $113.8 =USD against a basket of currencies.
The euro snapped a five-day losing streak, gaining 0.3% to $0.96255, EUR=EBS, narrowly off last week's 20-year low of $0.9528.
Oil prices rose on Wednesday in U.S. trading hours as production cuts caused by Hurricane Ian outweighed downward pressure from a strengthening dollar and expected U.S. crude stockpile builds. U.S. crude CLc1 rose 2.7% to $80.61 per barrel and Brent LCOc1 was at $88.03, up 2% on the day.
Spot gold XAU= added 1.3% to $1,650.59 an ounce. U.S. gold futures GCc1 fell 0.30% to $1,621.80 an ounce.
Asia stock marketshttps://tmsnrt.rs/2zpUAr4
Asia-Pacific valuationshttps://tmsnrt.rs/2Dr2BQA
(Reporting by Lawrence Delevingne in Boston and Amanada Cooper in London. Additional reporting by Wayne Cole in Sydney. Editing by Mark Potter)
((lawrence.delevingne@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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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne and Amanda Cooper Sept 28 (Reuters) - U.S. and global equities staged a mild comeback on Wednesday as the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors fears of contagion across the financial system. Sterling, which hit record lows against the dollar on Monday, was last down 0.1%, whipsawed in volatile trade, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. Sterling, which hit record lows against the dollar on Monday, was last down 0.1%, whipsawed in volatile trade, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic. FEDWATCH The pound briefly fell by as much as 1% after the BoE's announcement, while UK stocks cut losses to rise about 0.2%, which in turn helped the broader European equity market avoid deeper falls.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne and Amanda Cooper Sept 28 (Reuters) - U.S. and global equities staged a mild comeback on Wednesday as the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors fears of contagion across the financial system. Sterling, which hit record lows against the dollar on Monday, was last down 0.1%, whipsawed in volatile trade, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. Investors have been rattled in the last week in particular by soaring bond yields, as central bankers have raced to raise interest rates to contain red-hot inflation before it tips the global economy into recession. The IMF and the U.S. Treasury waded in yesterday in fear of global contagion from gilts to other markets," he said.
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19141.0
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2022-09-28 00:00:00 UTC
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GLOBAL MARKETS-Wall Street bounces off lows as UK steps in to calm bonds
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AAPL
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https://www.nasdaq.com/articles/global-markets-wall-street-bounces-off-lows-as-uk-steps-in-to-calm-bonds-0
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nan
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nan
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By Lawrence Delevingne and Amanda Cooper
Sept 28 (Reuters) - U.S. and global equities staged a partial comeback on Wednesday as the Bank of England said it would step in to the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors' fears of contagion across the financial system.
The BoE said it would temporarily buy long-dated bonds - linked most closely to workers' pensions and home loans - in light of a surge in UK bond yields to their highest level in years.
Sterling GBP=D3, which hit record lows against the dollar on Monday, was last up about 1.37% in volatile trading, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic.
European government bonds also got a lift from the surge in gilts.
Investors have been rattled in the last week in particular by soaring bond yields, as central bankers have raced to raise interest rates to contain red-hot inflation before it tips the global economy into recession.
The dollar, the ultimate safe-haven in times of market turmoil, was down 1.25%, off two-decade highs, spurred on by yields on the benchmark 10-year Treasury US10YT=TWEB approaching 4.0% for the first time since 2008. FEDWATCH
The MSCI All-World index .MIWD00000PUS was last up about 1.1%, having pulled off a session trough that marked its lowest level since November 2020. It is heading for a nearly 8% drop in September - its biggest monthly decline since March 2020's fall of 13%.
In Europe, the STOXX 600 .STOXX and FTSE 100 .FTSE both pared losses to gain about 0.3% on the day.
Wall Street's rebound gained momentum over the day, with the S&P 500 Index .SPX up about 1.6% after it fell to a two year low on Tuesday. The Dow Jones Industrial Average .DJI gained 1.6% and the Nasdaq Composite .IXIC was up 1.5%.
Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone.
Bryce Doty, senior portfolio manager for Sit Fixed Income Advisors LLC in Minneapolis, said the UK intervention had helped calm U.S. markets, but that the "temporary stability is something of an illusion."
Doty cited the widening gap between 10-year treasury yields and 30-year mortgage rates, which he attributed to the Fed reducing its mortgage securities and the sharp inversion of the yield curve resulting from the Fed’s "aggressive determination to damage economic activity."
UK MARKETS STORM
At the heart of this week's sell-off across global markets is the British government's so-called mini-budget last week which announced a raft of tax cuts and little in the way of detail as to how those would be funded.
The International Monetary Fund (IMF) and ratings agency Moody's criticised Britain's new economic strategy announced on Friday, which has sparked a collapse in the value of British assets.
Strategists at Amundi, Europe's largest asset manager, said earlier on Wednesday they believed UK assets were in for more losses, as the UK's fiscal credibility remained on the line.
"We believe risks remain tilted to the downside – given how much is already priced-in, less aggressive signalling from the BoE will accelerate the move to below parity (for sterling/dollar), in our view," strategists led by Laurent Crosnier, global head of FX, wrote, recommending investors avoid pounds.
Oil prices rose on Wednesday in U.S. trading hours as production cuts caused by Hurricane Ian outweighed downward pressure from a strengthening dollar and expected U.S. crude stockpile builds. U.S. crude CLc1 rose 3.66% to $81.37 per barrel and Brent LCOc1 was at $88.83, up 2.97% on the day.
Spot gold XAU= added 2.0% to $1,661.49 an ounce. U.S. gold futures GCc1 fell 0.30% to $1,621.80 an ounce.
Scott Wren, seniorglobal marketstrategist at Wells Fargo Investment Institute, said markets may already be pricing in future pain.
"Should the economy slow and eventually fall into recession and inflation stays higher for longer, we believe financial asset prices have adjusted to reflect this likely reality," Wren wrote in a client note released on Wednesday. "Eventually, brighter skies will be on the horizon."
Britain's market rout stokes contagion fears around the globe
(Reporting by Lawrence Delevingne in Boston and Amanada Cooper in London Additional reporting by Wayne Cole in Sydney Editing by Mark Potter and Matthew Lewis)
((lawrence.delevingne@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.
|
Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne and Amanda Cooper Sept 28 (Reuters) - U.S. and global equities staged a partial comeback on Wednesday as the Bank of England said it would step in to the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors' fears of contagion across the financial system. Sterling GBP=D3, which hit record lows against the dollar on Monday, was last up about 1.37% in volatile trading, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic.
|
Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone. The BoE said it would temporarily buy long-dated bonds - linked most closely to workers' pensions and home loans - in light of a surge in UK bond yields to their highest level in years. Oil prices rose on Wednesday in U.S. trading hours as production cuts caused by Hurricane Ian outweighed downward pressure from a strengthening dollar and expected U.S. crude stockpile builds.
|
Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne and Amanda Cooper Sept 28 (Reuters) - U.S. and global equities staged a partial comeback on Wednesday as the Bank of England said it would step in to the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors' fears of contagion across the financial system. "Should the economy slow and eventually fall into recession and inflation stays higher for longer, we believe financial asset prices have adjusted to reflect this likely reality," Wren wrote in a client note released on Wednesday.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 3% on a report the tech company was dropping its plans to boost production of the latest model of its flagship iPhone. European government bonds also got a lift from the surge in gilts. In Europe, the STOXX 600 .STOXX and FTSE 100 .FTSE both pared losses to gain about 0.3% on the day.
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19142.0
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2022-09-28 00:00:00 UTC
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Why Apple Stock Is Falling Today
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AAPL
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https://www.nasdaq.com/articles/why-apple-stock-is-falling-today-2
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nan
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nan
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What happened
Shares of Apple (NASDAQ: AAPL) were tumbling today after a Bloomberg report said that the company is walking back plans to boost iPhone production.
This news worried Apple shareholders, sending the tech stock down by 2.9% as of 12:14 p.m. ET.
So what
Apple had originally told its suppliers to prepare for increased production as it anticipated higher demand for its latest iPhone 14 models. But some of that demand for Apple's entry-level iPhone 14 models never materialized, according to sources speaking to Bloomberg.
Image source: Apple.
Now, Apple is expected to cut back on its production by about 6 million phones. That would put the company's production of its latest models at about 90 million units in the second half of this year, which is about the same number of new iPhones it produced over the same period last year.
The pullback in iPhone production is apparently the result of higher-than-expected demand for the iPhone 14 Pro/Max models and lower-than-expected demand for Apple's entry-level iPhone 14 models.
Now what
While Apple investors are reacting strongly to this news today, they should also keep in mind that in early August, a separate Bloomberg article said that Apple was asking its suppliers to produce 90 million units of its new models. So while the company was recently anticipating a surge of demand that didn't happen, it doesn't change what the company had originally expected a little more than a month ago.
Apple shareholders may be extra cautious about this news as the Federal Reserve continues to hike interest rates at an aggressive pace and investors worry that the Fed's move could end up tipping the economy into a recession.
But long-term investors should keep in mind that a temporary pullback in iPhone production isn't a good reason to dump Apple's stock.
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Chris Neiger 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 Shares of Apple (NASDAQ: AAPL) were tumbling today after a Bloomberg report said that the company is walking back plans to boost iPhone production. So what Apple had originally told its suppliers to prepare for increased production as it anticipated higher demand for its latest iPhone 14 models. Apple shareholders may be extra cautious about this news as the Federal Reserve continues to hike interest rates at an aggressive pace and investors worry that the Fed's move could end up tipping the economy into a recession.
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What happened Shares of Apple (NASDAQ: AAPL) were tumbling today after a Bloomberg report said that the company is walking back plans to boost iPhone production. But some of that demand for Apple's entry-level iPhone 14 models never materialized, according to sources speaking to Bloomberg. The pullback in iPhone production is apparently the result of higher-than-expected demand for the iPhone 14 Pro/Max models and lower-than-expected demand for Apple's entry-level iPhone 14 models.
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What happened Shares of Apple (NASDAQ: AAPL) were tumbling today after a Bloomberg report said that the company is walking back plans to boost iPhone production. The pullback in iPhone production is apparently the result of higher-than-expected demand for the iPhone 14 Pro/Max models and lower-than-expected demand for Apple's entry-level iPhone 14 models. Now what While Apple investors are reacting strongly to this news today, they should also keep in mind that in early August, a separate Bloomberg article said that Apple was asking its suppliers to produce 90 million units of its new models.
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What happened Shares of Apple (NASDAQ: AAPL) were tumbling today after a Bloomberg report said that the company is walking back plans to boost iPhone production. But some of that demand for Apple's entry-level iPhone 14 models never materialized, according to sources speaking to Bloomberg. See the 10 stocks *Stock Advisor returns as of August 17, 2022 Chris Neiger has positions in Apple.
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19143.0
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2022-09-28 00:00:00 UTC
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Wednesday's ETF with Unusual Volume: VONG
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AAPL
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https://www.nasdaq.com/articles/wednesdays-etf-with-unusual-volume%3A-vong
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nan
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nan
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The Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Wednesday, with over 8.4 million shares traded versus three month average volume of about 696,000. Shares of VONG were up about 0.9% on the day.
Components of that ETF with the highest volume on Wednesday were Apple, trading down about 3% with over 72.5 million shares changing hands so far this session, and Advanced Micro Devices, up about 2% on volume of over 34.2 million shares. Ginkgo Bioworks Holdings is the component faring the best Wednesday, up by about 16.1% on the day, while Uipath is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 5.4%.
VIDEO: Wednesday's ETF with Unusual Volume: VONG
The views and 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 Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Wednesday, with over 8.4 million shares traded versus three month average volume of about 696,000. Components of that ETF with the highest volume on Wednesday were Apple, trading down about 3% with over 72.5 million shares changing hands so far this session, and Advanced Micro Devices, up about 2% on volume of over 34.2 million shares. Ginkgo Bioworks Holdings is the component faring the best Wednesday, up by about 16.1% on the day, while Uipath is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 5.4%.
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The Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Wednesday, with over 8.4 million shares traded versus three month average volume of about 696,000. Ginkgo Bioworks Holdings is the component faring the best Wednesday, up by about 16.1% on the day, while Uipath is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 5.4%. VIDEO: Wednesday's ETF with Unusual Volume: VONG The views and 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 Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Wednesday, with over 8.4 million shares traded versus three month average volume of about 696,000. Components of that ETF with the highest volume on Wednesday were Apple, trading down about 3% with over 72.5 million shares changing hands so far this session, and Advanced Micro Devices, up about 2% on volume of over 34.2 million shares. Ginkgo Bioworks Holdings is the component faring the best Wednesday, up by about 16.1% on the day, while Uipath is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 5.4%.
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The Vanguard Russell 1000 Growth ETF is seeing unusually high volume in afternoon trading Wednesday, with over 8.4 million shares traded versus three month average volume of about 696,000. Ginkgo Bioworks Holdings is the component faring the best Wednesday, up by about 16.1% on the day, while Uipath is lagging other components of the Vanguard Russell 1000 Growth ETF, trading lower by about 5.4%. VIDEO: Wednesday's ETF with Unusual Volume: VONG The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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19144.0
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2022-09-28 00:00:00 UTC
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ROKU Ultra Streaming Set-Top Box Arrives in Canada for $129
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AAPL
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https://www.nasdaq.com/articles/roku-ultra-streaming-set-top-box-arrives-in-canada-for-%24129
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nan
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nan
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Roku Inc. ROKU recently announced the launch of its $129 Roku Ultra streaming set-top box in Canada starting October, following its successful launch in the United States.
The Roku Ultra includes streaming capabilities of 4K HDR10+. Additionally, as most of the premium services now support Dolby Vision, the Roku Ultra also includes that function. It has a dedicated USB port, an Ethernet port, and an HDMI port. The streaming box also features Bluetooth, allowing users to connect wireless headphones to listen privately.
An improved remote is included alongside the Roku Ultra. This remote includes a rechargeable battery, a far-field mic and a headphone jack. For charging, the Roku Ultra’s remote does include a micro-USB cable that connects to the bottom of the remote.
With the new remote, users can plug in a pair of headphones (included in the box) for private listening. Alternatively, Ultra’s bluetooth enables users to connect a pair of wireless headphones for the same effect.
The remote features quick navigation buttons to Netflix, Crave, Disney+ and Apple TV. Roku has also implemented two programmable buttons. These buttons can be optimized at the user’s discretion. For instance, you can set a button to navigate directly to your favorite show. Other custom searches can also be conducted using the programmable buttons.
Roku’s Ultra is fully compatible with smart home ecosystems, including Google Assistant, Apple HomeKit and others. However, the device has its own onboard hands-free voice control system. By default, the remote can conduct searches through the far-field microphone.
Alongside the launch of Roku Ultra, the company is rolling out its new Roku OS 11.5 update. The new software update adds some new features to the operating system. One of these is the ability to filter and show all content that is available to watch for free. Additionally, Roku is adding the ability to easily save movies and shows across the platform to a “Save List.” Roku OS 11.5 will be rolling out in the coming weeks.
Roku, Inc. Price and Consensus
Roku, Inc. price-consensus-chart | Roku, Inc. Quote
Stiff Competition in the Streaming Space Creates Threat
Roku faces significant competitive pressure from Amazon’s AMZN Fire TV Stick, Alphabet-owned GOOGL Google's Chromecast, Apple’s AAPL Apple TV and others despite the strength of its brand.
Roku’s stock has grossly underperformed as it has fallen 74.2% year to date compared to its peers, Amazon, Google and Apple, which have lost 31.4%, 32.7% and 14.5%, respectively. The Zacks Broadcast Radio and Television industry has seen a decline of 56.4% in the same period.
The company expects global supply chain disruptions to impact its player unit sales in terms of shipping delays, product availability issues and product price increases. Lower spending from certain advertising verticals due to limited product availability is expected to hurt the top line. Ongoing recessionary fear, inflationary pressure and higher interest rates will be some challenging factors for this Zacks Rank #4 (Sell) company.
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.
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Amazon.com, Inc. (AMZN): Free Stock Analysis Report
Apple Inc. (AAPL): Free Stock Analysis Report
Alphabet Inc. (GOOGL): Free Stock Analysis Report
Roku, Inc. (ROKU): 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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Roku, Inc. Price and Consensus Roku, Inc. price-consensus-chart | Roku, Inc. Quote Stiff Competition in the Streaming Space Creates Threat Roku faces significant competitive pressure from Amazon’s AMZN Fire TV Stick, Alphabet-owned GOOGL Google's Chromecast, Apple’s AAPL Apple TV and others despite the strength of its brand. Apple Inc. (AAPL): Free Stock Analysis Report Roku’s Ultra is fully compatible with smart home ecosystems, including Google Assistant, Apple HomeKit and others.
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Roku, Inc. Price and Consensus Roku, Inc. price-consensus-chart | Roku, Inc. Quote Stiff Competition in the Streaming Space Creates Threat Roku faces significant competitive pressure from Amazon’s AMZN Fire TV Stick, Alphabet-owned GOOGL Google's Chromecast, Apple’s AAPL Apple TV and others despite the strength of its brand. Apple Inc. (AAPL): Free Stock Analysis Report The streaming box also features Bluetooth, allowing users to connect wireless headphones to listen privately.
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Roku, Inc. Price and Consensus Roku, Inc. price-consensus-chart | Roku, Inc. Quote Stiff Competition in the Streaming Space Creates Threat Roku faces significant competitive pressure from Amazon’s AMZN Fire TV Stick, Alphabet-owned GOOGL Google's Chromecast, Apple’s AAPL Apple TV and others despite the strength of its brand. Apple Inc. (AAPL): Free Stock Analysis Report Roku Inc. ROKU recently announced the launch of its $129 Roku Ultra streaming set-top box in Canada starting October, following its successful launch in the United States.
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Roku, Inc. Price and Consensus Roku, Inc. price-consensus-chart | Roku, Inc. Quote Stiff Competition in the Streaming Space Creates Threat Roku faces significant competitive pressure from Amazon’s AMZN Fire TV Stick, Alphabet-owned GOOGL Google's Chromecast, Apple’s AAPL Apple TV and others despite the strength of its brand. Apple Inc. (AAPL): Free Stock Analysis Report You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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19145.0
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2022-09-28 00:00:00 UTC
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Apple tests idea of discretionary spending
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AAPL
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https://www.nasdaq.com/articles/apple-tests-idea-of-discretionary-spending
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nan
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nan
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Reuters
Reuters
NEW YORK (Reuters Breakingviews) - Apple may learn that its moat isn’t as wide during times of high inflation. The $2.4 trillion company led by Tim Cook put on ice plans to increase production of the newly launched iPhone 14 – which starts at $800 – because of softer demand, according to Bloomberg, citing people familiar with the matter. When wallets are pinched, a new iPhone probably isn’t a must-have.
Apple was planning on increasing production of the iPhone 14 by as much as 6 million units, but instead, the company will target 90 million phones for the second half of the year, roughly the same level as the prior year and in line with Apple's original forecast in the summer, Bloomberg said. The strength of the U.S. dollar probably hasn’t helped. As other currencies have weakened relative to the dollar, Apple has had to raise prices to keep the cost steady relative to America.
Already Apple’s share of the global smartphone market has declined sharply to 16% in the second quarter from 23% penetration in the fourth quarter last year, according to research firm IDC. As the cost of food, utilities and rent soars, people may reconsider what is a necessary item. (By Jennifer Saba)
Follow @Breakingviews on Twitter
Capital Calls - More concise insights on global finance:
Blackstone’s Schwarzman kickstarts UK asset grab
EasyJet gives carbon offset reform a handy shove
Nexi can play catch-up with rival Worldline
Leapmotor’s modest IPO obviates big leap of faith
Clock ticks for reining in TikTok risk
(Editing by Lauren Silva Laughlin and Sharon Lam)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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NEW YORK (Reuters Breakingviews) - Apple may learn that its moat isn’t as wide during times of high inflation. The $2.4 trillion company led by Tim Cook put on ice plans to increase production of the newly launched iPhone 14 – which starts at $800 – because of softer demand, according to Bloomberg, citing people familiar with the matter. (By Jennifer Saba) Follow @Breakingviews on Twitter Capital Calls - More concise insights on global finance: Blackstone’s Schwarzman kickstarts UK asset grab EasyJet gives carbon offset reform a handy shove Nexi can play catch-up with rival Worldline Leapmotor’s modest IPO obviates big leap of faith Clock ticks for reining in TikTok risk (Editing by Lauren Silva Laughlin and Sharon Lam) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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NEW YORK (Reuters Breakingviews) - Apple may learn that its moat isn’t as wide during times of high inflation. The $2.4 trillion company led by Tim Cook put on ice plans to increase production of the newly launched iPhone 14 – which starts at $800 – because of softer demand, according to Bloomberg, citing people familiar with the matter. Apple was planning on increasing production of the iPhone 14 by as much as 6 million units, but instead, the company will target 90 million phones for the second half of the year, roughly the same level as the prior year and in line with Apple's original forecast in the summer, Bloomberg said.
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The $2.4 trillion company led by Tim Cook put on ice plans to increase production of the newly launched iPhone 14 – which starts at $800 – because of softer demand, according to Bloomberg, citing people familiar with the matter. Apple was planning on increasing production of the iPhone 14 by as much as 6 million units, but instead, the company will target 90 million phones for the second half of the year, roughly the same level as the prior year and in line with Apple's original forecast in the summer, Bloomberg said. (By Jennifer Saba) Follow @Breakingviews on Twitter Capital Calls - More concise insights on global finance: Blackstone’s Schwarzman kickstarts UK asset grab EasyJet gives carbon offset reform a handy shove Nexi can play catch-up with rival Worldline Leapmotor’s modest IPO obviates big leap of faith Clock ticks for reining in TikTok risk (Editing by Lauren Silva Laughlin and Sharon Lam) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Reuters Reuters NEW YORK (Reuters Breakingviews) - Apple may learn that its moat isn’t as wide during times of high inflation. The $2.4 trillion company led by Tim Cook put on ice plans to increase production of the newly launched iPhone 14 – which starts at $800 – because of softer demand, according to Bloomberg, citing people familiar with the matter.
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19146.0
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2022-09-28 00:00:00 UTC
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Nasdaq 100 Movers: AAPL, BIIB
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AAPL
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https://www.nasdaq.com/articles/nasdaq-100-movers%3A-aapl-biib
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nan
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nan
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In early trading on Wednesday, shares of Biogen topped the list of the day's best performing components of the Nasdaq 100 index, trading up 36.3%. Year to date, Biogen registers a 12.4% gain.
And the worst performing Nasdaq 100 component thus far on the day is Apple, trading down 4.0%. Apple is lower by about 17.9% looking at the year to date performance.
Two other components making moves today are JD.com, trading down 1.5%, and Illumina, trading up 4.7% on the day.
VIDEO: Nasdaq 100 Movers: AAPL, BIIB
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: Nasdaq 100 Movers: AAPL, BIIB The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Wednesday, shares of Biogen topped the list of the day's best performing components of the Nasdaq 100 index, trading up 36.3%. And the worst performing Nasdaq 100 component thus far on the day is Apple, trading down 4.0%.
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VIDEO: Nasdaq 100 Movers: AAPL, BIIB The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Wednesday, shares of Biogen topped the list of the day's best performing components of the Nasdaq 100 index, trading up 36.3%. Year to date, Biogen registers a 12.4% gain.
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VIDEO: Nasdaq 100 Movers: AAPL, BIIB The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Wednesday, shares of Biogen topped the list of the day's best performing components of the Nasdaq 100 index, trading up 36.3%. And the worst performing Nasdaq 100 component thus far on the day is Apple, trading down 4.0%.
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VIDEO: Nasdaq 100 Movers: AAPL, BIIB The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And the worst performing Nasdaq 100 component thus far on the day is Apple, trading down 4.0%. Apple is lower by about 17.9% looking at the year to date performance.
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19147.0
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2022-09-28 00:00:00 UTC
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US STOCKS-Wall Street bounces back as Treasury yields dip
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AAPL
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https://www.nasdaq.com/articles/wall-street-bounces-back-as-treasury-yields-dip
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nan
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nan
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By Noel Randewich and Shreyashi Sanyal
Sept 28 (Reuters) - Wall Street rebounded strongly on Wednesday following its recent sell-off, helped by easing Treasury yields, while Apple dropped on concerns about demand for iPhones.
The gains came after the S&P 500 on Tuesday closed at its lowest since late 2020, dragging U.S. stocks further into bear market territory.
Stocks climbed as the yield on U.S. Treasuries US10YT=TWEB came off decade highs that in recent sessions made interest rate-sensitive companies less attractive to investors. US/GVD/EUR
Helping push Treasury yields lower, the Bank of England said it would buy long-dated British bonds in a move aimed at restoring financial stability in markets rocked globally by the fiscal policy of the new government in London.
"The yield on the two-year Treasury has gone up persistently over the course of the last several weeks, and for the first time we've seen it go down for two days in a row, and that has given equities a breather," said Art Hogan, chief market strategist at B. Riley Wealth.
Investors have also been keenly listening to comments from Federal Reserve officials on the path of monetary policy, with Atlanta Fed President Raphael Bostic on Wednesday backing another 75-basis-point interest rate hike in November.
U.S. stocks have been battered this year by worries that an aggressive push by the Fed to raise borrowing costs could throw the economy into a downturn.
Apple Inc AAPL.O lost 2.9% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize.
Traders exchanged almost $15 billion worth of Apple shares, more than any other stock.
All of the 11 S&P 500 sector indexes rose, led by a 3.1% jump in energy .SPNY and a 2.8% rise in communication services .SPLRCL.
With Wednesday's gains, the S&P 500 is down about 22% so far in 2022.
In afternoon trading, the Dow Jones Industrial Average .DJI was up 1.5% at 29,573.27 points, while the S&P 500 .SPX gained 1.48% to 3,701.4.
The Nasdaq Composite .IXIC added 1.33% to 10,973.41.
Biogen Inc BIIB.O surged 37% after saying its experimental Alzheimer's drug, developed with Japanese partner Eisai Co Ltd 4523.T, succeeded in slowing cognitive decline.
Eli Lilly & Co LLY.N, which is also developing an Alzheimer's drug, rose 6.8% and was among the biggest boosts to the S&P 500 index.
Advancing issues outnumbered declining ones on the NYSE by a 5.92-to-1 ratio; on Nasdaq, a 3.81-to-1 ratio favored advancers.
The S&P 500 posted one new 52-week high and 30 new lows; the Nasdaq Composite recorded 22 new highs and 203 new lows.
Every S&P 500 stock's performance in Septemberhttps://tmsnrt.rs/3UJ7c4a
(Reporting by Noel Randewich in San Francisco and Shreyashi Sanyal, Susan Mathew and Ankika Biswas in Bengaluru; Editing by Vinay Dwivedi, Arun Koyyur and Jonathan Oatis)
((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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Apple Inc AAPL.O lost 2.9% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street rebounded strongly on Wednesday following its recent sell-off, helped by easing Treasury yields, while Apple dropped on concerns about demand for iPhones. US/GVD/EUR Helping push Treasury yields lower, the Bank of England said it would buy long-dated British bonds in a move aimed at restoring financial stability in markets rocked globally by the fiscal policy of the new government in London.
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Apple Inc AAPL.O lost 2.9% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street rebounded strongly on Wednesday following its recent sell-off, helped by easing Treasury yields, while Apple dropped on concerns about demand for iPhones. US/GVD/EUR Helping push Treasury yields lower, the Bank of England said it would buy long-dated British bonds in a move aimed at restoring financial stability in markets rocked globally by the fiscal policy of the new government in London.
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Apple Inc AAPL.O lost 2.9% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street rebounded strongly on Wednesday following its recent sell-off, helped by easing Treasury yields, while Apple dropped on concerns about demand for iPhones. Stocks climbed as the yield on U.S. Treasuries US10YT=TWEB came off decade highs that in recent sessions made interest rate-sensitive companies less attractive to investors.
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Apple Inc AAPL.O lost 2.9% after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize. By Noel Randewich and Shreyashi Sanyal Sept 28 (Reuters) - Wall Street rebounded strongly on Wednesday following its recent sell-off, helped by easing Treasury yields, while Apple dropped on concerns about demand for iPhones. With Wednesday's gains, the S&P 500 is down about 22% so far in 2022.
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19148.0
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2022-09-28 00:00:00 UTC
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Dow Movers: AAPL, AMGN
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AAPL
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https://www.nasdaq.com/articles/dow-movers%3A-aapl-amgn
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nan
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nan
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In early trading on Wednesday, shares of Amgen topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.8%. Year to date, Amgen registers a 2.2% gain.
And the worst performing Dow component thus far on the day is Apple, trading down 4.2%. Apple is lower by about 18.1% looking at the year to date performance.
Two other components making moves today are UnitedHealth Group, trading down 1.0%, and Dow, trading up 1.7% on the day.
VIDEO: Dow Movers: AAPL, AMGN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: Dow Movers: AAPL, AMGN The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Wednesday, shares of Amgen topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.8%. And the worst performing Dow component thus far on the day is Apple, trading down 4.2%.
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VIDEO: Dow Movers: AAPL, AMGN The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Wednesday, shares of Amgen topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.8%. Year to date, Amgen registers a 2.2% gain.
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VIDEO: Dow Movers: AAPL, AMGN The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Wednesday, shares of Amgen topped the list of the day's best performing Dow Jones Industrial Average components, trading up 1.8%. And the worst performing Dow component thus far on the day is Apple, trading down 4.2%.
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VIDEO: Dow Movers: AAPL, AMGN The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And the worst performing Dow component thus far on the day is Apple, trading down 4.2%. Apple is lower by about 18.1% looking at the year to date performance.
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19149.0
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2022-09-28 00:00:00 UTC
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Technology Sector Update for 09/28/2022: AAPL, LYFT, BB, XLK, SOXX
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AAPL
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https://www.nasdaq.com/articles/technology-sector-update-for-09-28-2022%3A-aapl-lyft-bb-xlk-soxx
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nan
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nan
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Technology stocks were leaning lower premarket Wednesday. The Technology Select Sector SPDR ETF (XLK) was down 0.6% and the Semiconductor Sector Index Fund (SOXX) was nearly 1% lower recently.
Apple (AAPL) has scrapped plans to increase the production of its iPhone 14 this year due to weaker-than-expected demand, Bloomberg reported, citing people familiar with the matter. Apple was recently slipping past 2%.
Lyft (LYFT) is implementing a hiring freeze across its US operations through the end of the year due to the uncertain economic environment, the New York Post reported. Lyft was recently down more than 1%.
BlackBerry (BB) posted a fiscal Q2 adjusted loss Tuesday of $0.05 per share, compared with an adjusted loss of $0.06 per share a year earlier. Five analysts polled by Capital IQ expected a normalized loss of $0.07 per share. BlackBerry was 3.7% lower 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) has scrapped plans to increase the production of its iPhone 14 this year due to weaker-than-expected demand, Bloomberg reported, citing people familiar with the matter. BlackBerry (BB) posted a fiscal Q2 adjusted loss Tuesday of $0.05 per share, compared with an adjusted loss of $0.06 per share a year earlier. Five analysts polled by Capital IQ expected a normalized loss of $0.07 per share.
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Apple (AAPL) has scrapped plans to increase the production of its iPhone 14 this year due to weaker-than-expected demand, Bloomberg reported, citing people familiar with the matter. The Technology Select Sector SPDR ETF (XLK) was down 0.6% and the Semiconductor Sector Index Fund (SOXX) was nearly 1% lower recently. BlackBerry (BB) posted a fiscal Q2 adjusted loss Tuesday of $0.05 per share, compared with an adjusted loss of $0.06 per share a year earlier.
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Apple (AAPL) has scrapped plans to increase the production of its iPhone 14 this year due to weaker-than-expected demand, Bloomberg reported, citing people familiar with the matter. The Technology Select Sector SPDR ETF (XLK) was down 0.6% and the Semiconductor Sector Index Fund (SOXX) was nearly 1% lower recently. Lyft (LYFT) is implementing a hiring freeze across its US operations through the end of the year due to the uncertain economic environment, the New York Post reported.
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Apple (AAPL) has scrapped plans to increase the production of its iPhone 14 this year due to weaker-than-expected demand, Bloomberg reported, citing people familiar with the matter. Lyft (LYFT) is implementing a hiring freeze across its US operations through the end of the year due to the uncertain economic environment, the New York Post reported. Lyft was recently down more than 1%.
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19150.0
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2022-09-28 00:00:00 UTC
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Nasdaq Down Over 30%, Is Now the Time to Buy Growth Stocks?
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AAPL
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https://www.nasdaq.com/articles/nasdaq-down-over-30-is-now-the-time-to-buy-growth-stocks
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nan
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nan
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The Dow Jones Industrial Average and the S&P 500 are down over 20% from their highs -- a drawdown that signals both indices are officially in a bear market. But the Nasdaq Composite is in a league of its own. The tech-heavy index is down a painful 33% from its all-time high -- with many individual stocks now at their lowest levels since before the pandemic.
The million-dollar question is whether now is the right time to buy growth stocks or if intensifying selling pressure signals more pain. Let's determine why growth stocks are down big and the best way to identify the best growth stocks to buy now.
Image source: Getty Images.
Why are so many growth stocks at multiyear lows?
The reasons why an individual growth stock is down will vary from company to company. But generally speaking, the sell-off is probably due to a blend of valuation concerns, slowing growth, guidance cuts, lower expectations, and a higher cost of capital.
The Nasdaq Composite peaked at 16,212.23 on November 22, 2021. It was around this time that many stocks reached their all-time highs. Ten months ago, investor sentiment was optimistic, interest rates were low, inflation was seen by many as transitory, consumer spending was high, and the economy seemed to have rebounded from the worst of the pandemic. A growing economy and access to inexpensive capital via low interest rates make it easier for unprofitable companies to develop and scale their products and services. Put simply, unprofitable companies and start-ups need time and money. And a good economy paired with low interest rates provides just that.
What's more, multidecade low unemployment and rising home values meant many folks had excess funds to invest, which further drives equity valuations.
Fast forward to today, and the short-term outlook has changed dramatically. U.S. long-term interest rates are now approaching 3% and will likely go much higher as the Federal Reserve continues to raise rates. Average 30-year mortgage interest rates are at 6.3%, which is the highest level in nearly 15 years. The 30-year mortgage interest rate is up a staggering 109% in just one year -- which is a record-high year-over-year increase.
Data by YCharts.
Higher mortgage interest rates make it harder for consumers to justify buying a home, which lowers the demand for housing. According to the National Association of Home Builders, the housing market contributes roughly 15% to 18% of U.S. gross domestic product (GDP). A weakening housing market paired with rising inflation impacts the consumer, which can lower demand.
The housing market may not directly relate to the customer profile of a given company, but there's no denying it has ripple effects throughout the broader economy -- and can indirectly affect a business's performance somewhere down the line.
In addition to the impact on the consumer and the housing market, higher interest rates make it harder for companies to raise money through debt financing. And falling equity valuations make it less favorable to raise cash through equity financing. That puts companies that don't make any money in a lose-lose situation.
Differentiating between unprofitable growth companies and profitable growth companies
The growth companies that have seen their share prices fall the most tend to be unprofitable companies whose previous valuations could only be justified (in the short-term) based on a growing economy with access to cheap capital. So, while it may be tempting to reach into the bargain bin and buy discounted unprofitable growth stocks at multiyear lows, an investor should first make sure the company either has a path to profitability and positive free cash flow -- or enough cash on the balance sheet to outlast a prolonged slowdown in its business.
Just like the dot-com bust of the early 2000s, there's a good chance that some down-beaten growth stocks will emerge as tomorrow's market leaders. But for every Amazon, Alphabet, and Microsoft that emerged from the dot-com bust and produced life-changing wealth, there were dozens of companies that never recovered. In sum, a stock that is down 80% or more from its all-time high isn't automatically a good deal. Instead, it's important to understand that many of these companies are now in survival mode and probably should have never reached their peak valuations in the first place.
No one has a crystal ball. But if a company has a great management team, a compelling product or service offering, and a healthy balance sheet, it could be worth exploring for long-term investors. Conversely, an unprofitable growth company with an unhealthy balance sheet that is quickly running out of cash may not be worth buying, no matter how beaten down it is.
Profitable growth companies offer potentially lower risk than unprofitable growth companies. As an example, let's look at a company like Advanced Micro Devices (NASDAQ: AMD).
AMD stock is down 59% from its all-time high as economic slowdowns tend to coincide with lower demand for chips. However, AMD is profitable, free cash flow positive, still growing at an impressive rate, and has more cash on its balance sheet than debt. Since AMD isn't dependent on debt or equity financing to run its business and it doesn't pay a dividend, the company is well positioned to outlast a secular slowdown. Investors who are pessimistic about AMD's short-term prospects may be inclined to sell the stock. And while it's true AMD stock could keep falling, nothing has materially changed about the company's long-term investment thesis.
Navigating a brutal bear market
Understanding why growth stocks are down and the differences between unprofitable and profitable companies can provide a roadmap for making smart decisions during a bear market. Buying growth stocks down big off their highs in the hopes the stock will return to its all-time high price is usually a bad idea. A more worthwhile approach is to find companies you believe have what it takes to capture market share in a downturn -- and maybe even gain a leg up on the competition. Investing in these companies can not only lead to compound returns over time but can also help you sleep at night and stress less about market volatility.
In sum, now is an excellent time to buy certain growth stocks, so long as an investor understands the situation could get worse before it gets better.
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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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But generally speaking, the sell-off is probably due to a blend of valuation concerns, slowing growth, guidance cuts, lower expectations, and a higher cost of capital. Ten months ago, investor sentiment was optimistic, interest rates were low, inflation was seen by many as transitory, consumer spending was high, and the economy seemed to have rebounded from the worst of the pandemic. The housing market may not directly relate to the customer profile of a given company, but there's no denying it has ripple effects throughout the broader economy -- and can indirectly affect a business's performance somewhere down the line.
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Higher mortgage interest rates make it harder for consumers to justify buying a home, which lowers the demand for housing. In addition to the impact on the consumer and the housing market, higher interest rates make it harder for companies to raise money through debt financing. The Motley Fool has positions in and recommends Advanced Micro Devices, Amazon, Apple, and Microsoft.
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Differentiating between unprofitable growth companies and profitable growth companies The growth companies that have seen their share prices fall the most tend to be unprofitable companies whose previous valuations could only be justified (in the short-term) based on a growing economy with access to cheap capital. So, while it may be tempting to reach into the bargain bin and buy discounted unprofitable growth stocks at multiyear lows, an investor should first make sure the company either has a path to profitability and positive free cash flow -- or enough cash on the balance sheet to outlast a prolonged slowdown in its business. Navigating a brutal bear market Understanding why growth stocks are down and the differences between unprofitable and profitable companies can provide a roadmap for making smart decisions during a bear market.
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It was around this time that many stocks reached their all-time highs. Higher mortgage interest rates make it harder for consumers to justify buying a home, which lowers the demand for housing. Differentiating between unprofitable growth companies and profitable growth companies The growth companies that have seen their share prices fall the most tend to be unprofitable companies whose previous valuations could only be justified (in the short-term) based on a growing economy with access to cheap capital.
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19151.0
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2022-09-28 00:00:00 UTC
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US STOCKS-Dow, S&P 500 set to open higher on lower yields, Apple slides
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AAPL
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https://www.nasdaq.com/articles/us-stocks-dow-sp-500-set-to-open-higher-on-lower-yields-apple-slides
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nan
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nan
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By Shreyashi Sanyal
Sept 28 (Reuters) - The Dow and S&P 500 were set to open higher on Wednesday as easing Treasury yields gently lifted rate-sensitive growth stocks, but the gains were capped by losses in Apple Inc after it dropped plans to boost iPhone production.
Futures shed early losses, gaining confidence from a Bank of England decision to restore financial stability by buying as many long-dated government bonds as needed. The move lifted British bond prices and pushed global benchmark yields lower. GB/
The yield on the U.S. 10-year Treasury bill US10YT=TWEB came off 12-year highs to hit the day's low of 3.886%, while Germany's 10-year government bond yield DE10YT=RR, the benchmark for the euro zone, fell after touching a 11-year high. US/GVD/EUR
"Yields now are approaching the Fed's desired target level of 4 and 4.5%. So once that happens, we should see yields beginning to level off and that should boost equity prices," said Peter Cardillo, chief market economist, Spartan Capital Securities LLC.
Rate-sensitive megacap growth names such as Amazon.com Inc AMZN.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O edged higher 0.2% and 0.3%.
Later in the day, investors will also pay attention to comments from a slew of Fed officials, including Fed Chair Jerome Powell.
Meanwhile, shares of the world's most valuable public company AAPL.O fell 2.3% in premarket trading after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year.
"Apple has got so many pieces and any weakness in Apple demand has big knock-on impacts on many spaces, so chips, processing and the outlook for retail sales even," said Patrick Armstrong, chief investment officer at Plurimi Wealth.
Chipmakers Advanced Micro Devices AMD.O, Qualcomm Inc QCOM.O Nvidia Corp NVDA.O and Micron Tech MU.O were down between 0.3% and 1.9%.
Apple's production cut added fuel to investors worried about the U.S. Federal Reserve's push to aggressively increase borrowing costs to tame stubbornly high inflation even at the risk of slowing down economic growth.
At 8:46 a.m. ET, Dow e-minis 1YMcv1 were up 167 points, or 0.57%, S&P 500 e-minis EScv1 were up 16 points, or 0.44%, and Nasdaq 100 e-minis NQcv1 were up 9.25 points, or 0.08%.
In the previous session, Wall Street's main indexes sank deeper into a bear market, with the S&P 500 recording its lowest close in almost two years on rate hike worries.
Bucking the overall slide, Biogen BIIB.O surged 50.4% after its Alzheimer's drug, developed with Japanese partner Eisai 4523.T, succeeded in slowing cognitive decline.
Shares of Eli Lilly & Co LLY.N, which is also developing an Alzheimer's drug, rose 8%.
(Reporting by Shreyashi Sanyal, Susan Mathew and Ankika Biswas in Bengaluru; Editing by Vinay Dwivedi and Arun Koyyur)
((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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Meanwhile, shares of the world's most valuable public company AAPL.O fell 2.3% in premarket trading after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year. By Shreyashi Sanyal Sept 28 (Reuters) - The Dow and S&P 500 were set to open higher on Wednesday as easing Treasury yields gently lifted rate-sensitive growth stocks, but the gains were capped by losses in Apple Inc after it dropped plans to boost iPhone production. Apple's production cut added fuel to investors worried about the U.S. Federal Reserve's push to aggressively increase borrowing costs to tame stubbornly high inflation even at the risk of slowing down economic growth.
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Meanwhile, shares of the world's most valuable public company AAPL.O fell 2.3% in premarket trading after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year. By Shreyashi Sanyal Sept 28 (Reuters) - The Dow and S&P 500 were set to open higher on Wednesday as easing Treasury yields gently lifted rate-sensitive growth stocks, but the gains were capped by losses in Apple Inc after it dropped plans to boost iPhone production. The move lifted British bond prices and pushed global benchmark yields lower.
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Meanwhile, shares of the world's most valuable public company AAPL.O fell 2.3% in premarket trading after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year. By Shreyashi Sanyal Sept 28 (Reuters) - The Dow and S&P 500 were set to open higher on Wednesday as easing Treasury yields gently lifted rate-sensitive growth stocks, but the gains were capped by losses in Apple Inc after it dropped plans to boost iPhone production. GB/ The yield on the U.S. 10-year Treasury bill US10YT=TWEB came off 12-year highs to hit the day's low of 3.886%, while Germany's 10-year government bond yield DE10YT=RR, the benchmark for the euro zone, fell after touching a 11-year high.
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Meanwhile, shares of the world's most valuable public company AAPL.O fell 2.3% in premarket trading after Bloomberg reported that Apple told suppliers to curtail efforts to increase assembly of its iPhone 14 products by as many as 6 million units in the second half of this year. By Shreyashi Sanyal Sept 28 (Reuters) - The Dow and S&P 500 were set to open higher on Wednesday as easing Treasury yields gently lifted rate-sensitive growth stocks, but the gains were capped by losses in Apple Inc after it dropped plans to boost iPhone production. Futures shed early losses, gaining confidence from a Bank of England decision to restore financial stability by buying as many long-dated government bonds as needed.
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19152.0
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2022-09-28 00:00:00 UTC
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US STOCKS-Futures fall as Apple drops production increase, falling yields limit losses
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-fall-as-apple-drops-production-increase-falling-yields-limit-losses
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nan
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nan
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By Shreyashi Sanyal and Susan Mathew
Sept 28 (Reuters) - U.S. stock index futures fell on Wednesday led by Apple after it dropped plans to boost production of its new iPhones, but a pullback in benchmark Treasury yields from multi-year highs limited the decline.
Shares of the world's most valuable public company AAPL.O fell 3.7% in premarket trading after Bloomberg reported Apple had told suppliers to curtail efforts to increase assembly of its iPhone 14 product family by as many as 6 million units in the second half of this year.
"Apple has got so many pieces and any weakness in Apple demand has big knock-on impacts on many spaces, so chips, processing and the outlook for retail sales even," said Patrick Armstrong, chief investment officer at Plurimi Wealth.
The report on Apple's production cut added fuel to investors worried about the U.S. Federal Reserve's push to aggressively increase borrowing costs to tame stubbornly high inflation even at the risk of slowing down economic growth.
Other megacap growth names such as Amazon.com Inc AMZN.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O also fell between 0.6% and 2.1%.
Chipmakers Advanced Micro Devices AMD.O, Qualcomm Inc QCOM.O Nvidia Corp NVDA.O and Micron Tech MU.O were down between 1.5% and 2.8%.
Still, a bit of relief for equity markets came from a Bank of England decision to buy as many long-dated government bonds as needed between now and Oct. 14.
The yield on the U.S. 10-year Treasury bill US10YT=TWEB came off 12-year highs to hit the day's low of 3.886%, while Germany's 10-year government bond yield DE10YT=RR, the benchmark for the euro zone, fell after touching a 11-year high. US/GVD/EUR
"Yields now are approaching the Fed's desired target level of 4 and 4.5%. So once that happens, we should see yields beginning to level off and that should boost equity prices," said Peter Cardillo, chief market economist, Spartan Capital Securities LLC.
"The market is very, very sold."
At 7:30 a.m. ET, Dow e-minis 1YMcv1 were down 85 points, or 0.29%, S&P 500 e-minis EScv1 were down 18.75 points, or 0.51%, and Nasdaq 100 e-minis NQcv1 were down 113.75 points, or 1%.
In the previous session, Wall Street's main indexes sank deeper into a bear market, with the S&P 500 recording its lowest close in almost two years on rate hike worries.
Bucking the overall slide, Biogen BIIB.O surged 45.9% after its Alzheimer's drug, developed with Japanese partner Eisai 4523.T, succeeded in slowing cognitive decline.
Shares of Eli Lilly & Co LLY.N, which is also developing an Alzheimer's drug, rose 7.7%.
(Reporting by Shreyashi Sanyal, Susan Mathew and Ankika Biswas in Bengaluru; Editing by Vinay Dwivedi and Arun Koyyur)
((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 the world's most valuable public company AAPL.O fell 3.7% in premarket trading after Bloomberg reported Apple had told suppliers to curtail efforts to increase assembly of its iPhone 14 product family by as many as 6 million units in the second half of this year. By Shreyashi Sanyal and Susan Mathew Sept 28 (Reuters) - U.S. stock index futures fell on Wednesday led by Apple after it dropped plans to boost production of its new iPhones, but a pullback in benchmark Treasury yields from multi-year highs limited the decline. The report on Apple's production cut added fuel to investors worried about the U.S. Federal Reserve's push to aggressively increase borrowing costs to tame stubbornly high inflation even at the risk of slowing down economic growth.
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Shares of the world's most valuable public company AAPL.O fell 3.7% in premarket trading after Bloomberg reported Apple had told suppliers to curtail efforts to increase assembly of its iPhone 14 product family by as many as 6 million units in the second half of this year. By Shreyashi Sanyal and Susan Mathew Sept 28 (Reuters) - U.S. stock index futures fell on Wednesday led by Apple after it dropped plans to boost production of its new iPhones, but a pullback in benchmark Treasury yields from multi-year highs limited the decline. The yield on the U.S. 10-year Treasury bill US10YT=TWEB came off 12-year highs to hit the day's low of 3.886%, while Germany's 10-year government bond yield DE10YT=RR, the benchmark for the euro zone, fell after touching a 11-year high.
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Shares of the world's most valuable public company AAPL.O fell 3.7% in premarket trading after Bloomberg reported Apple had told suppliers to curtail efforts to increase assembly of its iPhone 14 product family by as many as 6 million units in the second half of this year. By Shreyashi Sanyal and Susan Mathew Sept 28 (Reuters) - U.S. stock index futures fell on Wednesday led by Apple after it dropped plans to boost production of its new iPhones, but a pullback in benchmark Treasury yields from multi-year highs limited the decline. The yield on the U.S. 10-year Treasury bill US10YT=TWEB came off 12-year highs to hit the day's low of 3.886%, while Germany's 10-year government bond yield DE10YT=RR, the benchmark for the euro zone, fell after touching a 11-year high.
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Shares of the world's most valuable public company AAPL.O fell 3.7% in premarket trading after Bloomberg reported Apple had told suppliers to curtail efforts to increase assembly of its iPhone 14 product family by as many as 6 million units in the second half of this year. By Shreyashi Sanyal and Susan Mathew Sept 28 (Reuters) - U.S. stock index futures fell on Wednesday led by Apple after it dropped plans to boost production of its new iPhones, but a pullback in benchmark Treasury yields from multi-year highs limited the decline. The yield on the U.S. 10-year Treasury bill US10YT=TWEB came off 12-year highs to hit the day's low of 3.886%, while Germany's 10-year government bond yield DE10YT=RR, the benchmark for the euro zone, fell after touching a 11-year high.
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19153.0
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2022-09-28 00:00:00 UTC
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Russia demands Apple explain after VK apps removed from App Store
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AAPL
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https://www.nasdaq.com/articles/russia-demands-apple-explain-after-vk-apps-removed-from-app-store
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nan
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nan
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This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.
Adds detail throughout
MOSCOW, Sept 28 (Reuters) - Russia's communications regulator on Wednesday demanded an explanation from Apple AAPL.O after applications operated by the Russian state-controlled tech firm VK VKCOq.L were removed from the U.S. firm's App Store.
The regulator, Roskomnadzor, has been a thorn in the side of foreign tech firms, issuing fines over data storage violations and for failures to remove content Russia deems illegal - disputes that have escalated since Moscow sent its armed forces into Ukraine in February.
VK runs Vkontakte, which with over 75 million monthly users is Russia's largest social network, often compared to Facebook. Along with VK's email service Mail.ru, Vkontakte must be pre-installed on mobile devices sold in Russia.
Roskomnadzor said Apple's actions had deprived millions of Russians of access to VK apps and demanded that it explain its decision.
Apple did not immediately respond to an emailed request for comment.
"The agency believes that such discriminatory restrictions, which violate the right of Russian internet users to freely receive information and communicate, are unacceptable," Roskomnadzor said in a statement.
Russia has, however, itself limited its citizens' access to information by forcing all significant independent Russian media to close and blocking the U.S. social media platforms Facebook, Instagram and Twitter.
VK tightened its grip on Russia's internet space this month by finalising a deal to buy rival Yandex's YNDX.O news aggregator, content platform Zen and yandex.ru homepage.
VK on Tuesday said its apps, including Vkontakte, already installed on smartphones continued to work, and that it was continuing to develop and support apps for Apple's iOS operating system.
(Reporting by Alexander Marrow; Editing by Kevin Liffey)
((alexander.marrow@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 detail throughout MOSCOW, Sept 28 (Reuters) - Russia's communications regulator on Wednesday demanded an explanation from Apple AAPL.O after applications operated by the Russian state-controlled tech firm VK VKCOq.L were removed from the U.S. firm's App Store. The regulator, Roskomnadzor, has been a thorn in the side of foreign tech firms, issuing fines over data storage violations and for failures to remove content Russia deems illegal - disputes that have escalated since Moscow sent its armed forces into Ukraine in February. "The agency believes that such discriminatory restrictions, which violate the right of Russian internet users to freely receive information and communicate, are unacceptable," Roskomnadzor said in a statement.
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Adds detail throughout MOSCOW, Sept 28 (Reuters) - Russia's communications regulator on Wednesday demanded an explanation from Apple AAPL.O after applications operated by the Russian state-controlled tech firm VK VKCOq.L were removed from the U.S. firm's App Store. Roskomnadzor said Apple's actions had deprived millions of Russians of access to VK apps and demanded that it explain its decision. Russia has, however, itself limited its citizens' access to information by forcing all significant independent Russian media to close and blocking the U.S. social media platforms Facebook, Instagram and Twitter.
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Adds detail throughout MOSCOW, Sept 28 (Reuters) - Russia's communications regulator on Wednesday demanded an explanation from Apple AAPL.O after applications operated by the Russian state-controlled tech firm VK VKCOq.L were removed from the U.S. firm's App Store. The regulator, Roskomnadzor, has been a thorn in the side of foreign tech firms, issuing fines over data storage violations and for failures to remove content Russia deems illegal - disputes that have escalated since Moscow sent its armed forces into Ukraine in February. VK on Tuesday said its apps, including Vkontakte, already installed on smartphones continued to work, and that it was continuing to develop and support apps for Apple's iOS operating system.
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Adds detail throughout MOSCOW, Sept 28 (Reuters) - Russia's communications regulator on Wednesday demanded an explanation from Apple AAPL.O after applications operated by the Russian state-controlled tech firm VK VKCOq.L were removed from the U.S. firm's App Store. This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. Roskomnadzor said Apple's actions had deprived millions of Russians of access to VK apps and demanded that it explain its decision.
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19154.0
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2022-09-28 00:00:00 UTC
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CANADA STOCKS-TSX futures dip on rate hike worries
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AAPL
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https://www.nasdaq.com/articles/canada-stocks-tsx-futures-dip-on-rate-hike-worries
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nan
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nan
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Sept 28 (Reuters) - Futures tracking Canada's main stock index fell on Wednesday, pointing to a seventh straight session in the red, as investors fretted about surging borrowing costs from aggressive policy tightening by central banks globally to curb inflation.
September futures on the S&P/TSX index SXFc1 were down 0.5% at 07:17 a.m. ET. They were tracking U.S. stock futures lower after a report that tech giant Apple AAPL.O was scrapping a plan to boost production of its flagship iPhone 14 on weak demand. .N
However, a swing in sentiment following the Bank of England's announcement of a temporary bond purchase program to stabilise the market helped cut some losses.
Dow e-minis 1YMcv1 were down 131 points, or 0.45% at 07:17 a.m. ET, while S&P 500 e-minis EScv1 were down 25.25 points, or 0.69% and Nasdaq 100 e-minis NQcv1 were down 135.25 points, or 1.19%. .N
Stock markets have been roiled this year by central banks taking a strong stance against inflation.
The U.S. Federal Reserve delivered its third 75 basis points hike for the year last week and signaled more even at the risk of tipping the economy into recession. The Bank of Canada governor has also called for more hikes after a 75 bps move this month. FRX/
Canada's main stock index has lost 6.4% over the last six session, hitting 11-week lows. On Tuesday, it ended down 19.13 points, or 0.1%, at 18,307.91. .TO
Gold prices hit their lowest since April 2020, indicating a possibly weak session for Canadian gold miners. FRX/
Stabilizing oil prices, however, were seen stemming any potential declines in energy companies. O/RGOL/
Among stocks, cinema chain operator Cineplex CGX.TO has reached out to the lenders of Cineworld CINE.L to revive a potential merger with the bankrupt rival's Regal Entertainment, the Wall Street Journal reported on Wednesday.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Anil D'Silva)
((Shashwat.Chauhan@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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They were tracking U.S. stock futures lower after a report that tech giant Apple AAPL.O was scrapping a plan to boost production of its flagship iPhone 14 on weak demand. Sept 28 (Reuters) - Futures tracking Canada's main stock index fell on Wednesday, pointing to a seventh straight session in the red, as investors fretted about surging borrowing costs from aggressive policy tightening by central banks globally to curb inflation. O/RGOL/ Among stocks, cinema chain operator Cineplex CGX.TO has reached out to the lenders of Cineworld CINE.L to revive a potential merger with the bankrupt rival's Regal Entertainment, the Wall Street Journal reported on Wednesday.
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They were tracking U.S. stock futures lower after a report that tech giant Apple AAPL.O was scrapping a plan to boost production of its flagship iPhone 14 on weak demand. Sept 28 (Reuters) - Futures tracking Canada's main stock index fell on Wednesday, pointing to a seventh straight session in the red, as investors fretted about surging borrowing costs from aggressive policy tightening by central banks globally to curb inflation. FRX/ Canada's main stock index has lost 6.4% over the last six session, hitting 11-week lows.
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They were tracking U.S. stock futures lower after a report that tech giant Apple AAPL.O was scrapping a plan to boost production of its flagship iPhone 14 on weak demand. Sept 28 (Reuters) - Futures tracking Canada's main stock index fell on Wednesday, pointing to a seventh straight session in the red, as investors fretted about surging borrowing costs from aggressive policy tightening by central banks globally to curb inflation. ET, while S&P 500 e-minis EScv1 were down 25.25 points, or 0.69% and Nasdaq 100 e-minis NQcv1 were down 135.25 points, or 1.19%.
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They were tracking U.S. stock futures lower after a report that tech giant Apple AAPL.O was scrapping a plan to boost production of its flagship iPhone 14 on weak demand. Sept 28 (Reuters) - Futures tracking Canada's main stock index fell on Wednesday, pointing to a seventh straight session in the red, as investors fretted about surging borrowing costs from aggressive policy tightening by central banks globally to curb inflation. FRX/ Canada's main stock index has lost 6.4% over the last six session, hitting 11-week lows.
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19155.0
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2022-09-28 00:00:00 UTC
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GLOBAL MARKETS-Wall Street fear lingers as UK steps in to calm bonds
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AAPL
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https://www.nasdaq.com/articles/global-markets-wall-street-fear-lingers-as-uk-steps-in-to-calm-bonds
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nan
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nan
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By Lawrence Delevingne and Amanda Cooper
Sept 28 (Reuters) - U.S. and global equities did little on Wednesday to rebound from fresh lows, even as the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors fears of contagion across the financial system.
The BoE said it would temporarily buy long-dated bonds - linked most closely to workers' pensions and home loans - in light of a surge in 30-year UK bond yields above 5%, their highest since 2002.
Sterling, which hit record lows against the dollar on Monday, whipsawed in volatile trade, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic.
Investors have been rattled in the last week in particular by soaring bond yields, as central bankers have raced to raise interest rates to contain red-hot inflation before it tips the global economy into recession.
The dollar, the ultimate safe-haven in times of market turmoil, rose to its highest in two decades, spurred on by yields on the benchmark 10-year Treasury US10YT=TWEB approaching 4.0% for the first time since 2008. FEDWATCH
The pound briefly fell by as much as 1% after the BoE's announcement, while UK stocks cut losses, which in turn helped the broader European equity market avoid deeper falls.
"The surge in bond yields threatens the housing market and broader economy. But the BoE still has to raise the policy rate," Kenneth Broux, Societe Generale currency strategist, said.
"You also have the contagion element. The IMF and the U.S. Treasury waded in yesterday in fear of global contagion from gilts to other markets," he said.
The International Monetary Fund (IMF) and ratings agency Moody's criticised Britain's new economic strategy announced on Friday, which has sparked a collapse in the value of British assets.
The MSCI All-World index .MIWD00000PUS was last down 0.4%, having pulled off a session trough that marked its lowest since November 2020. It is heading for a 9% drop in September - its biggest monthly decline since March 2020's 13% fall.
In Europe, the STOXX 600 .STOXX pared losses to trade down just 0.5% on the day, having fallen earlier by as much as 2%. The FTSE 100 .FTSE was down 0.3% on the day.
Wall Street opened slightly lower, with the S&P 500 Index .SPX down about 0.1%, after it fell to a two year low on Tuesday. The Dow Jones Industrial Average .DJI and the Nasdaq Composite .IXIC were virtually flat.
Weighing on growth stocks was Apple Inc AAPL.O, which was down about 4% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone.
European government bonds got a lift from the surge in the value of UK gilts.
"The Bank of England is restoring some calm to the markets. Finally there is a central bank that is moving in the right direction. Italy's BTPs and German Bunds have recovered and equities are above lows as well," said Carlo Franchini, head of institutional clients at Banca Ifigest in Milan.
KEEP CALM AND DON'T BUY STERLING
At the heart of this week's sell-off across global markets is the British government's so-called "mini-budget" last week that announced a raft of tax cuts and little in the way of detail as to how those would be funded.
Gilt prices have plunged and the pound has hit record lows as a result.
Sterling was last down 0.8% at $1.0655 GBP=D3, still above Monday's record trough of $1.0327 but set for its biggest monthly slide since the Brexit vote in June 2016.
Strategists at Amundi, Europe's largest asset manager, said earlier on Wednesday they believed UK assets were in for more losses, as the UK's fiscal credibility remained on the line.
"We believe risks remain tilted to the downside – given how much is already priced-in, less aggressive signalling from the BoE will accelerate the move to below parity (for sterling/dollar), in our view," strategists led by Laurent Crosnier, global head of FX, wrote, recommending investors avoid pounds.
The safe-haven dollar has been a major beneficiary from the rout in sterling, rising to a fresh 20-year peak of 114.780 =USD against a basket of currencies.
The euro fell for a sixth straight day, dropping 0.1% to $0.9585 EUR=EBS, narrowly off last week's 20-year low of $0.9528.
Oil prices rose on Wednesday in U.S. trading hours as production cuts caused by Hurricane Ian outweighed downward pressure from a strengthening dollar and expected U.S. crude stockpile builds. U.S. crude CLc1 rose 1.24% to $79.47 per barrel and Brent LCOc1 was at $86.95, up 0.79% on the day.
Spot gold XAU= added 0.4% to $1,635.39 an ounce. U.S. gold futures GCc1 fell 0.30% to $1,621.80 an ounce.
Asia stock marketshttps://tmsnrt.rs/2zpUAr4
Asia-Pacific valuationshttps://tmsnrt.rs/2Dr2BQA
(Reporting by Lawrence Delevingne in Boston and Amanada Cooper in London. Additional reporting by Wayne Cole in Sydney. Editing by Mark Potter)
((lawrence.delevingne@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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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 4% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne and Amanda Cooper Sept 28 (Reuters) - U.S. and global equities did little on Wednesday to rebound from fresh lows, even as the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors fears of contagion across the financial system. Sterling, which hit record lows against the dollar on Monday, whipsawed in volatile trade, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 4% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne and Amanda Cooper Sept 28 (Reuters) - U.S. and global equities did little on Wednesday to rebound from fresh lows, even as the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors fears of contagion across the financial system. Sterling, which hit record lows against the dollar on Monday, whipsawed in volatile trade, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 4% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne and Amanda Cooper Sept 28 (Reuters) - U.S. and global equities did little on Wednesday to rebound from fresh lows, even as the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors fears of contagion across the financial system. Sterling, which hit record lows against the dollar on Monday, whipsawed in volatile trade, while gilt prices roared higher, fuelled by the central bank's commitment to postpone a planned sale aimed at reducing the bonds it bought during the depths of the pandemic.
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Weighing on growth stocks was Apple Inc AAPL.O, which was down about 4% on a report the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. By Lawrence Delevingne and Amanda Cooper Sept 28 (Reuters) - U.S. and global equities did little on Wednesday to rebound from fresh lows, even as the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors fears of contagion across the financial system. FEDWATCH The pound briefly fell by as much as 1% after the BoE's announcement, while UK stocks cut losses, which in turn helped the broader European equity market avoid deeper falls.
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19156.0
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2022-09-28 00:00:00 UTC
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Apple Shelves Plans To Boost IPhone 14 Production Targets On Lower Demand: Report
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AAPL
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https://www.nasdaq.com/articles/apple-shelves-plans-to-boost-iphone-14-production-targets-on-lower-demand%3A-report
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nan
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nan
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(RTTNews) - iPhone maker Apple, Inc. has shelved its plans to boost production of the recently launched iPhone 14 line up after seeing a lower than anticipated demand for the highly popular smartphones, according to a Bloomberg report.
he company had also asked suppliers and assemblers to be ready for the boost in production few weeks ago.
The company's original aim was reportedly to produce 90 million iPhone handsets in the second half of the year, roughly in line with the prior-year period. However, it had renewed its plans and was looking to boost production by another 6 million handsets in anticipation of a surge in demand for the newly launched handsets.
Apple had its next-gen flagship smartphones the iPhone 14 Pro and iPhone 14 Pro Max at its "Far Out" event in Cupertino, California in the first week of September.
The views and 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) - iPhone maker Apple, Inc. has shelved its plans to boost production of the recently launched iPhone 14 line up after seeing a lower than anticipated demand for the highly popular smartphones, according to a Bloomberg report. he company had also asked suppliers and assemblers to be ready for the boost in production few weeks ago. The company's original aim was reportedly to produce 90 million iPhone handsets in the second half of the year, roughly in line with the prior-year period.
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(RTTNews) - iPhone maker Apple, Inc. has shelved its plans to boost production of the recently launched iPhone 14 line up after seeing a lower than anticipated demand for the highly popular smartphones, according to a Bloomberg report. However, it had renewed its plans and was looking to boost production by another 6 million handsets in anticipation of a surge in demand for the newly launched handsets. Apple had its next-gen flagship smartphones the iPhone 14 Pro and iPhone 14 Pro Max at its "Far Out" event in Cupertino, California in the first week of September.
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(RTTNews) - iPhone maker Apple, Inc. has shelved its plans to boost production of the recently launched iPhone 14 line up after seeing a lower than anticipated demand for the highly popular smartphones, according to a Bloomberg report. Apple had its next-gen flagship smartphones the iPhone 14 Pro and iPhone 14 Pro Max at its "Far Out" event in Cupertino, California in the first week of September. The views and 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) - iPhone maker Apple, Inc. has shelved its plans to boost production of the recently launched iPhone 14 line up after seeing a lower than anticipated demand for the highly popular smartphones, according to a Bloomberg report. he company had also asked suppliers and assemblers to be ready for the boost in production few weeks ago. However, it had renewed its plans and was looking to boost production by another 6 million handsets in anticipation of a surge in demand for the newly launched handsets.
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19157.0
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2022-09-28 00:00:00 UTC
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Stock Market News for Sep 28, 2022
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AAPL
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https://www.nasdaq.com/articles/stock-market-news-for-sep-28-2022
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nan
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nan
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U.S. stock markets closed mixed on Tuesday following mixed economic data. However, market participants remained extremely cautious regarding the Fed’s rigorous interest rate hike decision. The threat of a near-term recession has unnerved investors. The Dow and the S&P 500 continued their free fall while the Nasdaq Composite ended in green.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) fell 0.4% or 125.82 points to close at 29,134.99. The blue-chip index posted its lowest closing since Nov 12, 2020 and has entered the bear market territory for the first time since Mar 11, 2020. Notably, 19 components of the 30-stock index ended in negative territory while 9 in green and two remained unchanged.
The tech-heavy Nasdaq Composite finished at 10,829.50, rising 0.3% due to strong performance of large-cap technology stocks. However, the tech-laden index is currently at 33% below its all-time high. Tech tycoons like Apple Inc. AAPL and Cadence Design Systems Inc. CDNS rose 0.7% and 0.5%, respectively. Both stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The S&P 500 dropped 0.2% to end at 3,647.29. The broad-market index recorded its lowest closing since Dec 14, 2020. Seven out of 11 broad sectors of the benchmark index closed in negative zone and four in the green.
The Real Estate Select Sector SPDR (XLRE), the Utilities Select Sector SPDR (XLU) and the Consumer Staples Select Sector SPDR (XLP) tumbled 1.3%, 1.7% and 1.7%, respectively. On the other hand, the Energy Select Sector SPDR (XLE) gained 1.1%.
The fear-gauge CBOE Volatility Index (VIX) was up 1.1% to 32.60, marking its highest close since Jun 16. A total of 11.9 billion shares were traded on Tuesday, higher than the last 20-session average of 11.2 billion. Decliners outnumbered advancers on the NYSE by a 4.21-to-1 ratio. On Nasdaq, a 1.09 -to-1 ratio favored advancing issues.
Threat of a Recession
Economists and financial researchers are concerned that a rising dollar will hurt the sales of U.S. multinational companies as their products will be more expensive in the international markets. Further, the volume of international trade is likely to be impacted as most of these trades are settled in U.S. dollar terms.
The yields of U.S. government bonds have soared. On Sep 26, the yield on the benchmark 10-Year U.S. Treasury Note touched 4%, its highest since 2010. The yield on the short-term 2-year U.S. Treasury Note climbed 4.3%, its highest since 2007. The yield on the long-term 30-Year U.S. Treasury Note closed at 3.87%.
The yields of 2-year and 10-Year Notes have inverted for the last two months. After the last round rate hike in September, the yields on 10-Year and 30-Year Notes have also inverted. Economists generally consider this situation as a sign of an imminent recession.
Economic Data
New home sales in August increased to a seasonally adjusted 685,000 units compared with the consensus estimate of 506,000 units. July’s data was revised upward to 532,000 units from 511,000 units reported earlier.
The Conference Board reported that Consumer Confidence Index rose to 108% in September, reflecting the best reading since April. The consensus estimate was 104.5%. July’s data was revised upward to 103.6% from 103.2% reported earlier.
The Present Situation Sub- Index—based on consumers’ assessment of current business and labor market conditions—rose to 149.6% from 145.3% in August. The Expectations Sub- Index—based on consumers’ short-term outlook for income, business, and labor market conditions—increased to 80.3 from 75.8% last month.
Durable goods orders dropped 0.2% in August compared with the consensus estimate of a decline of 0.5%. The data for July was revised downward from unchanged to a drop of 0.1%. Surprisingly, a key metric of business spending climbed 1.3% in August.
The S&P CoreLogic Case-Shiller Index has shown that nationally, home prices in July rose 15.8% year over year compared with 18.1% in June. This marked the fastest pace of decline in home prices in the index’s history.
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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Tech tycoons like Apple Inc. AAPL and Cadence Design Systems Inc. CDNS rose 0.7% and 0.5%, respectively. Apple Inc. (AAPL): Free Stock Analysis Report The blue-chip index posted its lowest closing since Nov 12, 2020 and has entered the bear market territory for the first time since Mar 11, 2020.
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Tech tycoons like Apple Inc. AAPL and Cadence Design Systems Inc. CDNS rose 0.7% and 0.5%, respectively. Apple Inc. (AAPL): Free Stock Analysis Report U.S. stock markets closed mixed on Tuesday following mixed economic data.
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Tech tycoons like Apple Inc. AAPL and Cadence Design Systems Inc. CDNS rose 0.7% and 0.5%, respectively. Apple Inc. (AAPL): Free Stock Analysis Report U.S. stock markets closed mixed on Tuesday following mixed economic data.
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Tech tycoons like Apple Inc. AAPL and Cadence Design Systems Inc. CDNS rose 0.7% and 0.5%, respectively. Apple Inc. (AAPL): Free Stock Analysis Report The Dow and the S&P 500 continued their free fall while the Nasdaq Composite ended in green.
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19158.0
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2022-09-28 00:00:00 UTC
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Apple worsens selloff in beleaguered growth stocks
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AAPL
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https://www.nasdaq.com/articles/apple-worsens-selloff-in-beleaguered-growth-stocks
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nan
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nan
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Sept 28 (Reuters) - Apple Inc shares AAPL.O fell 4% in premarket trading on Wednesday and piled pressure on other growth stocks following a report that the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone.
Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand.
Shares of the world's most valuable public company fell to $145.89 and were on track to open at a two-month low. .N
Other growth stocks including Microsoft Corp MSFT.O, Amazon.com AMZN.O, Google-parent Alphabet GOOGL.O and Tesla Inc TSLA.O fell between 1.5% and 3% on the news.
"Weaker consumer demand is to be expected when utility bills are going up, interest rates are going up, mortgage costs are going higher ... discretionary spending is going to be curtailed by that," said Patrick Armstrong, chief investment officer at Plurimi Wealth in London.
"Apple is not immune to that and it's probably symptomatic of what's happening across many different companies right now."
The rate-sensitive growth stocks have taken a beating this year on the U.S. Federal Reserve's rapid pace of interest rate hikes.
The S&P 500 growth index .IGX has shed 29% this year, compared with a 17% slide in its value .IVX counterpart.
Shares of chipmakers fell on the news, with Apple suppliers Broadcom AVGO.O, Qualcomm QCOM.O and Taiwan Semiconductor TSM.N, Skyworks Solutions SWKS.O and ON Semiconductor ON.O down in the range of 1.2% and 2.8%.
Apple's suppliers in Europe - STMicroelectronics, BE Semiconductor BESI.AS, Nordic Semiconductor NOD.OL, ASM International ASMI.AS, Infineon IFXGn.DE, and ASML ASML.AS - fell between 1.6% and 4.7%.
(Reporting by Medha Singh and Susan Mathew in Bengaluru; Editing by Anil D'Silva)
((Medha.Singh@thomsonreuters.com; +91 80 6210 0592; Twitter: https://twitter.com/medhasinghs;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sept 28 (Reuters) - Apple Inc shares AAPL.O fell 4% in premarket trading on Wednesday and piled pressure on other growth stocks following a report that the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand. "Weaker consumer demand is to be expected when utility bills are going up, interest rates are going up, mortgage costs are going higher ... discretionary spending is going to be curtailed by that," said Patrick Armstrong, chief investment officer at Plurimi Wealth in London.
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Sept 28 (Reuters) - Apple Inc shares AAPL.O fell 4% in premarket trading on Wednesday and piled pressure on other growth stocks following a report that the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. Shares of the world's most valuable public company fell to $145.89 and were on track to open at a two-month low. Shares of chipmakers fell on the news, with Apple suppliers Broadcom AVGO.O, Qualcomm QCOM.O and Taiwan Semiconductor TSM.N, Skyworks Solutions SWKS.O and ON Semiconductor ON.O down in the range of 1.2% and 2.8%.
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Sept 28 (Reuters) - Apple Inc shares AAPL.O fell 4% in premarket trading on Wednesday and piled pressure on other growth stocks following a report that the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand. Shares of chipmakers fell on the news, with Apple suppliers Broadcom AVGO.O, Qualcomm QCOM.O and Taiwan Semiconductor TSM.N, Skyworks Solutions SWKS.O and ON Semiconductor ON.O down in the range of 1.2% and 2.8%.
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Sept 28 (Reuters) - Apple Inc shares AAPL.O fell 4% in premarket trading on Wednesday and piled pressure on other growth stocks following a report that the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand. Shares of the world's most valuable public company fell to $145.89 and were on track to open at a two-month low.
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2022-09-28 00:00:00 UTC
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Want to Tap Metaverse Boom? Stocks & ETFs to Play
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https://www.nasdaq.com/articles/want-to-tap-metaverse-boom-stocks-etfs-to-play
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The Metaverse is a shared virtual 3D world, or worlds, that are interactive and collaborative. It is facilitated by the use of virtual and augmented reality. The concept became extremely popular in 2021 particularly since Facebook rebranded itself as Meta Platforms.
With more and more companies from various industries joining the Meta bandwagon, it is clear that Metaverse will dictate the next generation of internet sooner or later. It offers a significant investment opportunity in the coming years.
Bloomberg Intelligence expects the market opportunity for the metaverse to reach $800 billion by 2024 from $500 billion in 2020, based on its analysis and Newzoo, IDC, PWC, Statista and Two Circles data. The primary market for online game makers and gaming hardware may top $400 billion in 2024 while the remaining business will come from live entertainment and social media. Gaming, AR, VR create $413 billion primary market of Metaverse, per Bloomberg.
Per an article published on grandviewresearch.com, the global metaverse market size was estimated at $38.85 billion in 2021. It is expected to increase at a compound annual growth rate (CAGR) of 39.4% from 2022 to 2030. According to industry experts, the metaverse is expected to permeate a host of industries in several ways in the coming years, with the potential market opportunity or the total addressable market estimated at more than $1 trillion in yearly revenues.
Against this backdrop, below we highlight a few stocks and ETFs those are gearing up to capitalize on the metaverse boom. These stocks are all not pure-play tech stocks. So, investors who fear rising rate worries being a drag on the tech investing right now, may like those other industry plays.
Stocks in Focus
Unity Software U
Zacks Rank #3 (Hold) Unity Software provides platform for creating and operating interactive, real-time 3D content. The company platform provides set of software solutions to create, run and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles and augmented and virtual reality devices. Analysts expect 19.31% revenue growth in 2022 and 26.51% top-line growth in 2023.
Walmart WMT
Retail giant Walmart is entering the metaverse with two experiences, Walmart Land and Walmart’s Universe of Play, in gaming platform Roblox. The retailer is experimenting with other ways to reach shoppers, including shoppable recipes, livestreaming events and an augmented reality feature for furniture, per a CNBC article. Zacks Rank #3 Walmart appears to be venturing into the metaverse with plans to create its own cryptocurrency and collection of NFTs, per a CNBC article.
Apple AAPL
Though Zacks Rank #3 (Hold) Apple is not quite into Metaverse, investors can bet on Apple’s augmented-reality ambitions.
ETFs in Focus
Roundhill Ball Metaverse ETF METV
The underlying Ball Metaverse Index seeks to track the performance of globally-listed equity securities of companies that engage in activities or provide products, services, technologies, or technological capabilities to enable the Metaverse, and benefit from its generated revenues. META charges 59 bps in fees.
Amplify Transformational Data Sharing ETF BLOK
Since blockchain is the basic technology of Metaverse, BLOK is sure to gain. The Amplify Transformational Data Sharing ETF is an actively managed ETF that seeks to provide total return by investing at least 80% of its net assets in the equity securities of companies actively involved in the development and utilization of transformational data sharing technologies. The ETF BLOK charges 71 bps in fees.
Global X Data Center REITs & Digital Infrastructure ETF VPN
Metaverse’s reliance on data centres makes the ETF VPN a lucrative bet. The boom in Metaverse will eventually upgrade the digital infrastructure incredibly. The underlying Solactive Data Center REITs & Digital Infrastructure Index seeks to provide exposure to companies that have business operations in the fields of data centers, cellular towers and digital infrastructure hardware. VPN charges 50 bps in fees.
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Apple Inc. (AAPL): Free Stock Analysis Report
Walmart Inc. (WMT): Free Stock Analysis Report
Amplify Transformational Data Sharing ETF (BLOK): ETF Research Reports
Unity Software Inc. (U): Free Stock Analysis Report
Global X Data Center REITs & Digital Infrastructure ETF (VPN): ETF Research Reports
Roundhill Ball Metaverse ETF (METV): 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 Though Zacks Rank #3 (Hold) Apple is not quite into Metaverse, investors can bet on Apple’s augmented-reality ambitions. Apple Inc. (AAPL): Free Stock Analysis Report The company platform provides set of software solutions to create, run and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles and augmented and virtual reality devices.
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Apple AAPL Though Zacks Rank #3 (Hold) Apple is not quite into Metaverse, investors can bet on Apple’s augmented-reality ambitions. Apple Inc. (AAPL): Free Stock Analysis Report Stocks in Focus Unity Software U Zacks Rank #3 (Hold) Unity Software provides platform for creating and operating interactive, real-time 3D content.
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Apple AAPL Though Zacks Rank #3 (Hold) Apple is not quite into Metaverse, investors can bet on Apple’s augmented-reality ambitions. Apple Inc. (AAPL): Free Stock Analysis Report ETFs in Focus Roundhill Ball Metaverse ETF METV The underlying Ball Metaverse Index seeks to track the performance of globally-listed equity securities of companies that engage in activities or provide products, services, technologies, or technological capabilities to enable the Metaverse, and benefit from its generated revenues.
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Apple AAPL Though Zacks Rank #3 (Hold) Apple is not quite into Metaverse, investors can bet on Apple’s augmented-reality ambitions. Apple Inc. (AAPL): Free Stock Analysis Report According to industry experts, the metaverse is expected to permeate a host of industries in several ways in the coming years, with the potential market opportunity or the total addressable market estimated at more than $1 trillion in yearly revenues.
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2022-09-28 00:00:00 UTC
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Japan's Nikkei ends at near 3-month low on global recession fears
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https://www.nasdaq.com/articles/japans-nikkei-ends-at-near-3-month-low-on-global-recession-fears
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By Kevin Buckland
TOKYO, Sept 28 (Reuters) - Japan's Nikkei share average ended at a near three-month low on Wednesday, amid worsening recession fears hitting Wall Street overnight, while a media report that Apple dropped plans of producing more iPhones also weighed on sentiment.
The Nikkei .N225 fell 1.5% to close at 26,173.98, after hitting a July 1 low of 25,938.36 earlier.
The benchmark index had opened weak and it fell further following a Bloomberg News report that Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise.
Investors globally are on edge as surging borrowing costs stoke fears of widespread recession, with most of the world's major central banks putting their focus squarely on tightening policies to contain super-heated inflation.
"It's very hard to buy stocks in a situation where everyone is working to gauge the risk of sliding into recession," said Jun Kitazawa, a strategist at Miki Securities.
Of the benchmark's 225 constituents, 206 stocks fell and 19 rose.
The broader Topix .TOPX slid 0.95% to 1,855.15.
Pharma was the only Nikkei sector that rose, adding 0.35%.
Eisai 4523.T surged by its daily limit, rising 17.29% after the drugmaker reported successful trial of its experimental Alzheimer's treatment lecanemab.
Rival Shionogi 4507.T added 1.08% after saying its oral treatment for COVID-19 demonstrated a significant reduction in symptoms compared to a placebo.
Real estate led declines among other sectors, dropping 2.78%.
The biggest drag on the Nikkei by index weight share was Uniqlo store operator Fast Retailing 9983.T, down 4.23%, followed by robotics giant Fanuc 6954.T, 2.89% lower, startup investor SoftBank Group 9984.T, off 1.83%, and chip-making equipment-maker Tokyo Electron 8035.T, which lost 1.38%.
Apple supplier TDK 6762.T was next, declining 3.05%.
(Reporting by Kevin Buckland; Additional reporting by Tokyo markets team; Editing by 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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The benchmark index had opened weak and it fell further following a Bloomberg News report that Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise. By Kevin Buckland TOKYO, Sept 28 (Reuters) - Japan's Nikkei share average ended at a near three-month low on Wednesday, amid worsening recession fears hitting Wall Street overnight, while a media report that Apple dropped plans of producing more iPhones also weighed on sentiment. Investors globally are on edge as surging borrowing costs stoke fears of widespread recession, with most of the world's major central banks putting their focus squarely on tightening policies to contain super-heated inflation.
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The benchmark index had opened weak and it fell further following a Bloomberg News report that Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise. By Kevin Buckland TOKYO, Sept 28 (Reuters) - Japan's Nikkei share average ended at a near three-month low on Wednesday, amid worsening recession fears hitting Wall Street overnight, while a media report that Apple dropped plans of producing more iPhones also weighed on sentiment. Pharma was the only Nikkei sector that rose, adding 0.35%.
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The benchmark index had opened weak and it fell further following a Bloomberg News report that Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise. By Kevin Buckland TOKYO, Sept 28 (Reuters) - Japan's Nikkei share average ended at a near three-month low on Wednesday, amid worsening recession fears hitting Wall Street overnight, while a media report that Apple dropped plans of producing more iPhones also weighed on sentiment. (Reporting by Kevin Buckland; Additional reporting by Tokyo markets team; Editing by 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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The benchmark index had opened weak and it fell further following a Bloomberg News report that Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise. The Nikkei .N225 fell 1.5% to close at 26,173.98, after hitting a July 1 low of 25,938.36 earlier. Of the benchmark's 225 constituents, 206 stocks fell and 19 rose.
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2022-09-28 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-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 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 $969.34 million, making it one of the average sized ETFs attempting to match the Large Cap Value segment of the US equity market.
Why Large Cap Value
Large cap companies 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.
Value stocks are known for their lower than average price-to-earnings and price-to-book ratios, but investors should also note their lower than average sales and earnings growth rates. 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
When considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.
Annual operating expenses for this ETF are 0.28%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 2.81%.
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 Healthcare sector--about 16% 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 -13.76% so far this year and is down about -6.18% in the last one year (as of 09/28/2022). In the past 52-week period, it has traded between $54.92 and $65.68.
The ETF has a beta of 0.90 and standard deviation of 22.89% 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 a great 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 $47.39 billion in assets, Vanguard Value ETF has $90.16 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.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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). Apple Inc. (AAPL): Free Stock Analysis Report 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). Apple Inc. (AAPL): Free Stock Analysis Report WisdomTree U.S. Total Dividend ETF (DTD): ETF Research Reports
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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). Apple Inc. (AAPL): Free Stock Analysis Report 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). Apple Inc. (AAPL): Free Stock Analysis Report 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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2022-09-28 00:00:00 UTC
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7 Blue-Chip Sleeper Stocks to Buy Before Wall Street Wakes Up
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https://www.nasdaq.com/articles/7-blue-chip-sleeper-stocks-to-buy-before-wall-street-wakes-up
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It may not occur to investors to look for blue-chip sleeper stocks, since they don’t often think of blue-chips as “sleepers.”
In tough times, seasoned investors seek comfort in the stability and safety that well-established robust companies can offer.
Blue-chip businesses generate consistent earnings thanks to their vast resources, resilient business models, and strong brands. In addition, such businesses boast impressive track records of delivering strong returns over the long term, including consistent and growing dividend payments.
In an environment where the benchmark S&P 500 index has lost a quarter of its value year to date, the market now offers a range of undervalued blue-chip stocks. Clearly, some of these businesses have been unfairly punished by the jittery market sentiment.
Put another way, the recent decline in valuations of some of the leading blue-chip stocks represents a compelling buying opportunity for patient, long-term investors. These stocks are primed to provide robust capital returns when market sentiment reverses.
With that said, here are seven blue-chip sleeper stocks poised to gain traction in the coming months.
AAPL Apple $151.33
BA Boeing $ 125.95
COST Costco Wholesale $477.39
GS Goldman Sachs $289.22
MA Mastercard $285.55
MCD Mcdonald’s $237.54
MRK Merck $86.04
Apple (AAPL)
Source: sylv1rob1 / Shutterstock.com
52-week range: $129.04 – $182.94
With a market cap of $2.4 trillion, Apple (NASDAQ:AAPL) has built an iconic brand focused on mobile communication and media devices. Apple claimed a 15.6% share of the global smartphone market in the second quarter of 2022.
The tech giant reported Q3 results in late July, when revenue hit a record $83 billion, up 2% year over year. The iPhone segment has particularly seen considerable growth momentum boosted by 5G phone sales.
Meanwhile, Apple’s high-margin service segment, which includes the App Store, Apple Music and Apple TV+, saw a double-digit year-over-year increase in revenue, reaching almost $20 billion.
The company recently announced its plans to enter the “buy now, pay later” business which could provide lucrative returns as Apple Pay is already used by more than 500 million people worldwide.
AAPL stock has lost more than 17% year to date. However, given its growth prospects, the shares have a historically reasonable valuation at 23.8 times forward earnings and 6.4 times sales.
Wall Street’s 12-month median price forecast for Apple stands at $185. In the coming days, AAPL shares could dip below $150, offering a better entry point for long-term investors.
Boeing (BA)
Source: Marco Menezes / Shutterstock.com
52-week range: $113.02 – $233.94
Aerospace and defense giant Boeing (NYSE:BA) generates revenue primarily from manufacturing commercial aircraft. When the pandemic brought the travel industry to its knees, Boeing’s operations also suffered.
As a result, the aviation industry, which has been leading U.S. exports in the past decade, fell to the fourth spot. Therefore, given the economic importance of Boeing, Wall Street pays close attention to metrics from Boeing.
The aircraft maker announced Q2 results in late July. Its Q2 revenue declined 2% year over year to $16.7 billion. Yet, investors were particularly pleased that Boeing generated a positive operating cash flow during the quarter, remaining on track to also deliver positive free cash flow for fiscal 2022.
In early August, the Federal Aviation Administration (FAA) cleared Boeing to resume deliveries of the 787 Dreamliner. Meanwhile, the demand for air travel is recovering faster than previously anticipated. For instance, in July, Delta Airlines (NYSE:DAL) ordered 100 737 MAX jets, the largest request of its kind in over a decade.
So far in 2022, BA stock has fallen close to 40%. Despite a rebound in air travel, shares are still trading at a historically cheap valuation of 1.3 times sales.
Analysts’ 12-month median price forecast for Boeing stands at $200. Readers could regard a further decline toward the $120 level as a possible entry level.
Costco Wholesale (COST)
Source: Helen89 / Shutterstock.com
52-week range: $406.51 – $612.27
Costco Wholesale (NASDAQ:COST) is the fifth-largest retailer in the world, with around 840 membership warehouses. The company operates on a membership-only basis and allows customers to save money by purchasing goods in bulk. Close to a third of sales come from Costco’s private label.
The wholesale giant released Q4 and full-year results on Sept. 22. Costco’s financial results were strong, but revealed considerable cost pressures. In the fourth quarter, net sales increased by 15% year over year to $72.1 billion.
Meanwhile, comparable store sales surged more than 10% across the company, which indicates that Costco’s low prices are becoming increasingly attractive for customers in today’s inflationary environment.
The membership fees Costco charges clients account for a significant portion of its overall profit. As customers consistently renew their memberships, Costco can deliver consistent profitability, even during a market downturn.
COST stock has declined more than 15% since the beginning of the year. Shares are trading at 0.95 times sales.
Wall Street’s 12-month median price forecast for COST stock is $565. In the case of further market volatility in October, Costco shares could decline toward $460, giving an opportune entry point for retail investors.
Goldman Sachs (GS)
Source: rafapress / Shutterstock.com
52-week range: $277.84- $426.16
Goldman Sachs (NYSE:GS) is one of the most prominent investment banks worldwide. In terms of revenue, it ranks number two behind JPMorgan Chase (NYSE:JPM).
The financial services giant issued Q2 metrics in mid-July. Its revenue went down by 23%, while net earnings plunged 48% year over year.
The decline came primarily due to declines in investment banking activities. Macroeconomic headwinds also led to a significant decline in equity underwriting and acquisition activity. Yet, in Q2, global markets and the consumer and wealth management divisions generated higher revenues.
Meanwhile, the bank has been building its consumer banking business. Increasingly, consumers have access to savings and loan accounts and credit card lending services. It is also introducing products in Europe.
So far in 2022, GS stock has lost 26%, and the dividend yield currently stands at 3.3%. Shares are available at a bargain valuation of 7.6 times forward earnings and just 1 times book value.
Analysts’ 12-month median price forecast for GS stock stands at $376.50. We’d look to enter Goldman Sachs at around $290.
Mastercard (MA)
Source: Alexander Yakimov / Shutterstock.com
52-week range: $290.24 – $399.92
Leading credit card provider Mastercard (NYSE:MA) operates a technology-focused payment network. Its credit card brands includes MasterCard, Maestro and Cirrus.
In the first half of 2022, card networks stateside generated over $67 billion in transaction. Of that amount, Visa (NYSE:V) enjoyed close to $45 billion in purchases, followed by Mastercard with around $18 billion.
The credit card giant has significantly benefited from the secular shift to digital payments. Its diversified business model insulates Mastercard from the cyclical volatility in various sectors and makes it resilient to rising inflation.
In late July, Mastercard reported solid Q2 financials. Net revenue grew 21% year over year to $5.5 billion despite the negative impact of discontinuing operations in Russia.
MA stock is trading at 52-week lows and has dropped nearly 23% year to date. However, given its quality and high growth prospects, MA stock is not expensive at 23.2 times forward earnings.
The 12-month median price forecast for Mastercard stock stands at $417. Investors who can weather the short-term volatility in the MA share price, are likely to benefit from the increase in revenues and net margins.
McDonald’s (MCD)
Source: 8th.creator / Shutterstock.com
52-week range:$217.68 – $271.15
Mcdonald’s (NYSE:MCD) is the largest fast-food company in the world, with roughly 40,000 stores. The company continues to grow its global footprint via partnerships with independent local business owners.
The fast food giant released Q2 financials in late July. Revenue fell 3% year over year to $5.72 billion due to currency exchange rate fluctuations. However, global comparable-store sales grew almost 10%, driven by strategic menu price increases and digital offerings.
Analysts mostly concur the decline in revenue reflects the bumpy recovery of its global business. Readers should note that international growth has been restrained by the lockdowns in China and the war in Ukraine.
Yet, management recently highlighted its success in the drive-thru and mobile ordering spaces. They could be key competitive advantages to further fuel digital sales growth.
So far in 2022, MCD stock has declined nearly 12%. The dividend aristocrat offers a 2.2% dividend yield at its current stock price. Shares are trading at 23.3 times trailing earnings and 7.8 times sales. Meanwhile, analysts’ 12-month median price forecast for MCD stock stands at $282.50.
Merck (MRK)
Source: Shutterstock
52-week range: $71.50 – $95.72
Pharma giant Merck (NYSE:MRK) offers health care solutions through prescription medicines, vaccines, and biological therapies. Its portfolio of blockbuster therapies includes the cancer drug Keytruda, which generated over $17 billion in 2021.
Other drugs to note are the antiviral Covid-19 treatment Lagevrio, human papillomavirus vaccine Gardasil, and diabetes treatments Januvia and Janumet. In addition, Merck’s pipeline boasts more than 100 studies in late-stage clinical development.
The healthcare play announced Q2 financials in late July. Merck’s revenue grew 28% year over year to $14.6 billion, primarily driven by Keytruda. In 2022, Keytruda is expected to surpass $20 billion in sales. As a result, management anticipates full-year 2022 global sales growth between 18% and 20% year over year.
Meanwhile, the healthcare giant is looking to acquire Seagen, a growing cancer treatment company, for an estimated $37 billion. This acquisition could boost top-line growth for the pharma specialist.
MRK stock has appreciated 12% year to date, and supports s a 3.2% dividend yield. Shares have an attractive valuation at 11.6 times forward earnings and 3.9 times sales.
Wall Street’s 12-month median price forecast for Merck is $100. In the weeks ahead, a potential decline toward the $83 level would make MRK stock more attractive.
On the date of publication, Tezcan Gecgil, Ph.D., 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.
Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation.
The post 7 Blue-Chip Sleeper Stocks to Buy Before Wall Street Wakes Up 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 $151.33 BA Boeing $ 125.95 COST Costco Wholesale $477.39 GS Goldman Sachs $289.22 MA Mastercard $285.55 MCD Mcdonald’s $237.54 MRK Merck $86.04 Apple (AAPL) Source: sylv1rob1 / Shutterstock.com 52-week range: $129.04 – $182.94 With a market cap of $2.4 trillion, Apple (NASDAQ:AAPL) has built an iconic brand focused on mobile communication and media devices. AAPL stock has lost more than 17% year to date. In the coming days, AAPL shares could dip below $150, offering a better entry point for long-term investors.
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AAPL Apple $151.33 BA Boeing $ 125.95 COST Costco Wholesale $477.39 GS Goldman Sachs $289.22 MA Mastercard $285.55 MCD Mcdonald’s $237.54 MRK Merck $86.04 Apple (AAPL) Source: sylv1rob1 / Shutterstock.com 52-week range: $129.04 – $182.94 With a market cap of $2.4 trillion, Apple (NASDAQ:AAPL) has built an iconic brand focused on mobile communication and media devices. AAPL stock has lost more than 17% year to date. In the coming days, AAPL shares could dip below $150, offering a better entry point for long-term investors.
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AAPL Apple $151.33 BA Boeing $ 125.95 COST Costco Wholesale $477.39 GS Goldman Sachs $289.22 MA Mastercard $285.55 MCD Mcdonald’s $237.54 MRK Merck $86.04 Apple (AAPL) Source: sylv1rob1 / Shutterstock.com 52-week range: $129.04 – $182.94 With a market cap of $2.4 trillion, Apple (NASDAQ:AAPL) has built an iconic brand focused on mobile communication and media devices. AAPL stock has lost more than 17% year to date. In the coming days, AAPL shares could dip below $150, offering a better entry point for long-term investors.
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AAPL Apple $151.33 BA Boeing $ 125.95 COST Costco Wholesale $477.39 GS Goldman Sachs $289.22 MA Mastercard $285.55 MCD Mcdonald’s $237.54 MRK Merck $86.04 Apple (AAPL) Source: sylv1rob1 / Shutterstock.com 52-week range: $129.04 – $182.94 With a market cap of $2.4 trillion, Apple (NASDAQ:AAPL) has built an iconic brand focused on mobile communication and media devices. AAPL stock has lost more than 17% year to date. In the coming days, AAPL shares could dip below $150, offering a better entry point for long-term investors.
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19163.0
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2022-09-28 00:00:00 UTC
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A $250 Billion Opportunity That Could Send Apple Stock Soaring
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AAPL
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https://www.nasdaq.com/articles/a-%24250-billion-opportunity-that-could-send-apple-stock-soaring
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nan
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nan
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Sales of 5G smartphones are taking off in India. That growth might explain why Apple (NASDAQ: AAPL) is focusing more on a market that has been a negligible contributor to the company's top line so far.
The tech giant is manufacturing iPhone 14 models in India through its partner Foxconn in the city of Chennai. What's remarkable is that Apple's latest iPhones will now be made in India so soon after their global launch, This is a departure from the company's prior strategy of only making older models in this market.
J.P. Morgan Chase's investment firm estimates that 5% of global iPhone 14 production could take place in India this year. What's more, the country is expected to account for a quarter of Apple's global iPhone production by 2025. Apple's efforts to grow production in the world's second-largest smartphone market could be a big deal, especially since there is growing adoption of 5G smartphones in India.
Let's see how Apple's decision to make more phones in India could supercharge the company's growth.
Apple wants to maintain its terrific growth in India
Apple reportedly generated $3 billion in revenue from India in fiscal 2021 (ended Sept. 25, 2021), with its top line increasing 68% over the prior year. The company's revenue from India is expected to hit $4 billion in fiscal 2022, according to third-party estimates, and the trend seems to have continued in the recently begun fiscal 2023. CEO Tim Cook pointed out on the company's Q3 earnings conference call in late July that Apple's India revenue nearly doubled during the quarter that ended in June.
Apple's impressive momentum in India is attributed to the adoption of 5G smartphones, which carry a higher average selling price (ASP) as compared to the overall smartphone market. The ASP of a 5G smartphone in India stands at 33,600 Indian rupees (around $412 at the current exchange rate). That's well above the overall smartphone ASP of $196 for the Indian market.
The higher smartphone spending has been a boon for Apple as it has been able to attract more users to its ecosystem and become a major player in the premium smartphone space (devices priced above $400) in the country. And now, the local production of the latest iPhone model could give Apple a boost in the Indian market.
Apple can save 20% in production costs (in the form of import duties) by locally making the iPhone 14 in India. It is worth noting that the iPhone 14 starts at a price of 79,900 Indian rupees ($980). That is higher than the $799 starting price in the U.S. market. Now, it remains to be seen if Apple would pass on this benefit to Indian consumers.
But if the company decides to do so and offers discounts to customers through banks or other third-party platforms, then the iPhone 14 could become more affordable in that market. Such a move could give Apple's sales volumes in India a nice shot in the arm. Analysts are already anticipating the iPhone 14 to record a 50% increase in shipments in India during the launch quarter over the prior generations of the device and push its share of the premium smartphone market to 47%.
This bodes well for Apple as the share of premium smartphones in India is just 7% at present, but it is expected to increase to 10% of the overall market in 2023. Even better, sales of premium smartphones are growing at a faster pace than the overall smartphone market in the country, driven by the growing adoption of 5G. And this is where the long-term opportunity lies for Apple.
Getting ready to dig into a massive revenue opportunity
Around $250 billion worth of smartphones could be sold in India between 2022 and 2026, with cumulative shipments reaching 1.7 billion units, according to estimates from Deloitte. Of that total, 5G smartphones are expected to account for 840 million units. More specifically, 5G devices could account for almost 80% of Indian smartphone shipments in 2026 at 310 million units.
For comparison, India is expected to have an installed base of 70 million to 80 million 5G smartphones by the end of 2022. So, there's massive room for growth in the Indian market, which is why it would make sense for Apple to make more iPhones locally and price them competitively. Such a move would allow the company to maintain its dominant position in the premium smartphone market in India.
The higher ASP of 5G smartphones and the growing share of shipments they will account for by 2026 means Apple improves its chances of benefitting from the $250 billion potential revenue opportunity in India.
The company cornered 12% of India's smartphone revenue in Q2 2022, according to Counterpoint Research. A similar share through 2026 means that Apple may be able to record $30 billion in incremental revenue from the Indian smartphone market over the next four years, based on the $250 billion additional revenue opportunity.
But Apple's momentum and its efforts to increase production in India mean the company could grab an even bigger share. For instance, a 20% share of the Indian smartphone market's revenue could add $50 billion to Apple's top line in India through 2026. That would be a big jump over the company's revenue from that market in the last couple of fiscal years, so it is easy to see why the Indian market could turn out to be a big growth driver for this tech stock.
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JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends JPMorgan Chase 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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That growth might explain why Apple (NASDAQ: AAPL) is focusing more on a market that has been a negligible contributor to the company's top line so far. CEO Tim Cook pointed out on the company's Q3 earnings conference call in late July that Apple's India revenue nearly doubled during the quarter that ended in June. Analysts are already anticipating the iPhone 14 to record a 50% increase in shipments in India during the launch quarter over the prior generations of the device and push its share of the premium smartphone market to 47%.
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That growth might explain why Apple (NASDAQ: AAPL) is focusing more on a market that has been a negligible contributor to the company's top line so far. Apple wants to maintain its terrific growth in India Apple reportedly generated $3 billion in revenue from India in fiscal 2021 (ended Sept. 25, 2021), with its top line increasing 68% over the prior year. Analysts are already anticipating the iPhone 14 to record a 50% increase in shipments in India during the launch quarter over the prior generations of the device and push its share of the premium smartphone market to 47%.
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That growth might explain why Apple (NASDAQ: AAPL) is focusing more on a market that has been a negligible contributor to the company's top line so far. Apple's efforts to grow production in the world's second-largest smartphone market could be a big deal, especially since there is growing adoption of 5G smartphones in India. Apple wants to maintain its terrific growth in India Apple reportedly generated $3 billion in revenue from India in fiscal 2021 (ended Sept. 25, 2021), with its top line increasing 68% over the prior year.
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That growth might explain why Apple (NASDAQ: AAPL) is focusing more on a market that has been a negligible contributor to the company's top line so far. What's more, the country is expected to account for a quarter of Apple's global iPhone production by 2025. That's well above the overall smartphone ASP of $196 for the Indian market.
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19164.0
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2022-09-28 00:00:00 UTC
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Facing talent shortage, Taiwanese chip test firm ASE boosts automation
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AAPL
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https://www.nasdaq.com/articles/facing-talent-shortage-taiwanese-chip-test-firm-ase-boosts-automation
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nan
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nan
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By Sarah Wu
TAIPEI, Sept 28 (Reuters) - Taiwan's ASE Technology Holding Co Ltd 3711.TW, one of the world's largest semiconductor testing and packaging firms, said on Wednesday that it would build a more advanced smart factory, as the industry continues to grapple with a labour shortage.
The new factory in Kaohsiung, powered by U.S. chip designer Qualcomm Inc's QCOM.OQ Snapdragon system, will be the first in the world to deploy a "5G mmWave new radio-dual connectivity standalone" network to improve speed, stability and equipment efficiency, the company said, marking the latest advance in ASE's automation push.
Apple Inc AAPL.O supplier ASE, which began investing in automated factories in 2015, told Reuters it plans to build 10 smart factories this year, reaching a total of 37 smart factories in Taiwan by the end of the year.
The talent shortage in the semiconductor industry remains a top concern, executives from companies throughout the chip supply chain from design to manufacturing have told Reuters.
Chip companies in Taiwan have been rapidly expanding in recent years, spurred in part by a pandemic-induced surge in demand for chips, and face fierce competition from local and foreign companies recruiting from a shrinking pool of engineers.
Taiwan's government last year partnered with industry to establish specialised "chip schools" to boost engineering talent for the prized sector on the island, home to the world's largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (TSMC) 2330.TW.
"We hope to lead by example and inspire more industry players to contribute to building a resilient global smart manufacturing and equipment cluster," ASE Chief Executive Tien Wu said in a statement.
(Reporting by Sarah Wu; Editing by Jamie Freed)
((S.Wu@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 supplier ASE, which began investing in automated factories in 2015, told Reuters it plans to build 10 smart factories this year, reaching a total of 37 smart factories in Taiwan by the end of the year. By Sarah Wu TAIPEI, Sept 28 (Reuters) - Taiwan's ASE Technology Holding Co Ltd 3711.TW, one of the world's largest semiconductor testing and packaging firms, said on Wednesday that it would build a more advanced smart factory, as the industry continues to grapple with a labour shortage. The new factory in Kaohsiung, powered by U.S. chip designer Qualcomm Inc's QCOM.OQ Snapdragon system, will be the first in the world to deploy a "5G mmWave new radio-dual connectivity standalone" network to improve speed, stability and equipment efficiency, the company said, marking the latest advance in ASE's automation push.
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Apple Inc AAPL.O supplier ASE, which began investing in automated factories in 2015, told Reuters it plans to build 10 smart factories this year, reaching a total of 37 smart factories in Taiwan by the end of the year. By Sarah Wu TAIPEI, Sept 28 (Reuters) - Taiwan's ASE Technology Holding Co Ltd 3711.TW, one of the world's largest semiconductor testing and packaging firms, said on Wednesday that it would build a more advanced smart factory, as the industry continues to grapple with a labour shortage. Taiwan's government last year partnered with industry to establish specialised "chip schools" to boost engineering talent for the prized sector on the island, home to the world's largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (TSMC) 2330.TW.
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Apple Inc AAPL.O supplier ASE, which began investing in automated factories in 2015, told Reuters it plans to build 10 smart factories this year, reaching a total of 37 smart factories in Taiwan by the end of the year. By Sarah Wu TAIPEI, Sept 28 (Reuters) - Taiwan's ASE Technology Holding Co Ltd 3711.TW, one of the world's largest semiconductor testing and packaging firms, said on Wednesday that it would build a more advanced smart factory, as the industry continues to grapple with a labour shortage. Taiwan's government last year partnered with industry to establish specialised "chip schools" to boost engineering talent for the prized sector on the island, home to the world's largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (TSMC) 2330.TW.
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Apple Inc AAPL.O supplier ASE, which began investing in automated factories in 2015, told Reuters it plans to build 10 smart factories this year, reaching a total of 37 smart factories in Taiwan by the end of the year. By Sarah Wu TAIPEI, Sept 28 (Reuters) - Taiwan's ASE Technology Holding Co Ltd 3711.TW, one of the world's largest semiconductor testing and packaging firms, said on Wednesday that it would build a more advanced smart factory, as the industry continues to grapple with a labour shortage. The new factory in Kaohsiung, powered by U.S. chip designer Qualcomm Inc's QCOM.OQ Snapdragon system, will be the first in the world to deploy a "5G mmWave new radio-dual connectivity standalone" network to improve speed, stability and equipment efficiency, the company said, marking the latest advance in ASE's automation push.
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19165.0
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2022-09-28 00:00:00 UTC
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7 Growth Stocks to Buy Before the Bull Market Returns
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AAPL
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https://www.nasdaq.com/articles/7-growth-stocks-to-buy-before-the-bull-market-returns
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In this market slowdown there appear to be fewer growth stocks to buy, but patience will be rewarded.
It’s been a forgettable year, to say the least, for equity investors. The Fed continues to raise interest rates, spooking investors in the process. However, as our very own maverick stock analyst Luke Lango puts it, there’s always a bull market somewhere.
Moreover, November, December, and January are typically strong months for the stock market that should encourage you to look for growth stocks to buy.
Growth stocks have been far from being the best wagers over the past several months. Energy stocks on the S&P 500 have been an anomaly, though, rising over 45% in the first eight months of the year. Moreover, given the market headwinds, it’s unlikely for the market to reverse course anytime soon.
Nevertheless, the bear market has created multiple opportunities to load up on growth stocks to buy for the long haul. Though they may seem unattractive at this time, the bear market isn’t going to last forever, and missing out on growth stocks trading at multi-year lows would be unwise. Here are seven growth stocks to buy now.
DKNG DraftKings $15.64
TENB Tenable $35.56
PRFT Perficient $61.62
MRNA Moderna $124.08
AAPL Apple $152.90
NIO Nio $17.67
CPNG Coupang $17.31
DraftKings (DKNG)
Source: Tada Images / Shutterstock.com
DraftKings (NASDAQ:DKNG) has established itself as the leader in the online sports betting market. It’s had an incredible year so far, achieving legalization across new territories across the U.S.
User engagement remains high while the company diversifies its portfolio to explore new opportunities in its niche. On top of that, its top-line growth continues to improve by double-digit margins each quarter, generating roughly 56.6% revenue growth from the prior-year period in the second quarter.
Despite consistently growing numbers, DKNG stock is down more than 40% for the year and trades at just three times forward sales.
As we advance, the legalization of sports betting in New York and California in the back half of the year could be a significant catalyst for the stock, which is why it’s an ideal time to bet on it while share prices are diminished.
Tenable (TENB)
Source: SWEviL / Shutterstock
Tenable (NASDAQ:TENB) is a cybersecurity firm that helps various enterprises assess their cyber exposure and protect their data.
The sector is forecast to grow at an incredible 8.9% from 2022 to 2027 to reach a value of $266.2 billion. Considering its trailing twelve-month sales figure of roughly $611 million, its growth runway ahead is massive.
Tenable has generated strong financial results over the past several quarters. Its average revenue growth over a five-year period stands at an amazing 33.7%. Top-line growth is roughly in line with its historical averages, as it continues to attract new customers each quarter.
It’s done well to create a one-stop-shop cyber exposure platform that effectively brings all its productions into a single solution. Consequently, its margin profile is spectacular, with nearly 80% gross margin. Moreover, it boasts a colossal customer base, most of which belong to the Fortune 500 and the Global 2000.
Perficient (PRFT)
Source: ccpixx photography / Shutterstock.com
Perficient (NASDAQ:PRFT) is an IT consulting firm that helps its clients effectively use digital technologies to drive engagement.
It provides services to various industries, including automotive, financial, manufacturing, and other related sectors.
The demand for its services has been robust of late, with the pandemic boosting trends in technology and pushing them to invest in their digital infrastructure. Consequently, its business has grown rapidly in recent quarters, as it benefits from its growing scale.
In catering to the rising demand for its products, it had to employ more professionals, which weighed down its bottom line. However, its revenue per employee is still the highest among its peer group.
Despite the belt-tightening measures implemented by various companies, digital transformation expenses cannot be considered frivolous anymore, which bodes well for the likes of Perficient.
Moderna (MRNA)
Source: diy13 / Shutterstock
Pharma giant Moderna (NASDAQ:MRNA) had another blow-out year in 2021, generating $18.5 billion from its much-talked about coronavirus vaccine.
It appears it could generate another $21 billion in sales based on advance purchase agreements.
The concerns surrounding MRNA stock relate to its post-pandemic future when Covid 19 vaccine sales settle at a lower level. However, the consensus is that the market is still expected to be worth over $10 billion once the pandemic shifts to endemic. Vaccine revenues are likely to be recurring, showing investors that it could drive sales over time.
Furthermore, Moderna has also been looking to expand its vaccine pipeline, having three non-coronavirus candidates in phase 3 trials. These vaccines cover the cytomegalovirus, respiratory syncytial virus (RSV), and influenza. If it can commercialize these vaccines, it will be looking at billions in new revenue down the road.
Apple (AAPL)
Source: sylv1rob1 / Shutterstock.com
Apple (NASDAQ:AAPL) is the most valuable public-traded entity, and for a good reason. It operates one of the most robust businesses in the world with a track record that’s second to none.
The iPhone maker offers its users an expanding list of products and services backed by incredible results. Moreover, it has a fortresslike balance sheet with friendly shareholder policies, which make it a no-brainer investment at current prices.
Apple is the most successful smartphone maker and has effectively augmented that success by adding new services. Hence, the iPhone and other products are incredibly sticky once we factor in Apple’s Services division.
The services division is arguably the fast-growing segment for the company, constituting 31% of total gross margins last year, an 11% improvement from 2017.
Furthermore, we recently saw the launch of the latest iPhone, which is expected to be another home run for the company. Wedbush analyst Daniel Ives estimates that nearly 240 million iPhone users haven’t upgraded their phones in more than 3.5 years, leading to strong pent-up demand.
Nio (NIO)
Source: Michael Vi / Shutterstock.com
Chinese EV juggernaut Nio (NYSE:NIO) has been one of the top wealth compounders over the past few years.
It’s been delivering record-breaking deliveries and growing sales at a rapid clip every quarter up until the second quarter this year. In all likelihood, though, the second quarter represents a nadir in its journey.
On the upside, Nio is expected to push through aggressively in the third quarter and beyond. At the same time, it continues to expand into Europe, pairing its ET5 with its ET7 flagship sedans.
Nio’s third-quarter guidance shows a massive 30.9% uptick in year-over-year and a 27.5% sequential increase in deliveries. It’s poised for a record-breaking fourth quarter if there aren’t any major lockdowns in the coming months.
Nio could potentially achieve break-even profitability exiting the fourth quarter next year. Despite the positives, it is trading at one-third of its all-time high price at this time, making it a screaming buy at current levels.
Coupang (CPNG)
Source: Michael Vi / Shutterstock.com
Coupang (NASDAQ:CPNG) is a leading South Korean eCommerce player that has witnessed remarkable stock price erosion despite rock-solid fundamentals.
It continues to grow significantly faster than the broader market, a trend that will likely continue for the foreseeable future. It operates in the South Korean eCommerce sector, which is projected to be arguably the fastest-growing market over the next several years.
Coupang is over 10 times larger in terms of its market share than the next competitor bidding for the top spot in the market.
Furthermore, the company has been prodding along nicely in expanding EBITDA margins. Its second-quarter eCommerce EBITDA margins came in at an amazing 2%, compared to a negative 2.7% last year.
Over the long run, the adjusted EBITDA margin is expected to fall in the 7% to 10% range. Additionally, Coupang is expanding into several new profitable verticals, including fintech, video, fast-food delivery, and others which will substantially increase its addressable market.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
The post 7 Growth Stocks to Buy Before the Bull Market Returns 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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DKNG DraftKings $15.64 TENB Tenable $35.56 PRFT Perficient $61.62 MRNA Moderna $124.08 AAPL Apple $152.90 NIO Nio $17.67 CPNG Coupang $17.31 DraftKings (DKNG) Source: Tada Images / Shutterstock.com DraftKings (NASDAQ:DKNG) has established itself as the leader in the online sports betting market. Apple (AAPL) Source: sylv1rob1 / Shutterstock.com Apple (NASDAQ:AAPL) is the most valuable public-traded entity, and for a good reason. Though they may seem unattractive at this time, the bear market isn’t going to last forever, and missing out on growth stocks trading at multi-year lows would be unwise.
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DKNG DraftKings $15.64 TENB Tenable $35.56 PRFT Perficient $61.62 MRNA Moderna $124.08 AAPL Apple $152.90 NIO Nio $17.67 CPNG Coupang $17.31 DraftKings (DKNG) Source: Tada Images / Shutterstock.com DraftKings (NASDAQ:DKNG) has established itself as the leader in the online sports betting market. Apple (AAPL) Source: sylv1rob1 / Shutterstock.com Apple (NASDAQ:AAPL) is the most valuable public-traded entity, and for a good reason. On top of that, its top-line growth continues to improve by double-digit margins each quarter, generating roughly 56.6% revenue growth from the prior-year period in the second quarter.
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DKNG DraftKings $15.64 TENB Tenable $35.56 PRFT Perficient $61.62 MRNA Moderna $124.08 AAPL Apple $152.90 NIO Nio $17.67 CPNG Coupang $17.31 DraftKings (DKNG) Source: Tada Images / Shutterstock.com DraftKings (NASDAQ:DKNG) has established itself as the leader in the online sports betting market. Apple (AAPL) Source: sylv1rob1 / Shutterstock.com Apple (NASDAQ:AAPL) is the most valuable public-traded entity, and for a good reason. InvestorPlace - Stock Market News, Stock Advice & Trading Tips In this market slowdown there appear to be fewer growth stocks to buy, but patience will be rewarded.
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DKNG DraftKings $15.64 TENB Tenable $35.56 PRFT Perficient $61.62 MRNA Moderna $124.08 AAPL Apple $152.90 NIO Nio $17.67 CPNG Coupang $17.31 DraftKings (DKNG) Source: Tada Images / Shutterstock.com DraftKings (NASDAQ:DKNG) has established itself as the leader in the online sports betting market. Apple (AAPL) Source: sylv1rob1 / Shutterstock.com Apple (NASDAQ:AAPL) is the most valuable public-traded entity, and for a good reason. Nevertheless, the bear market has created multiple opportunities to load up on growth stocks to buy for the long haul.
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19166.0
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2022-09-28 00:00:00 UTC
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Fast Company shuts website after hack sends 'obscene' Apple News notifications
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AAPL
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https://www.nasdaq.com/articles/fast-company-shuts-website-after-hack-sends-obscene-apple-news-notifications
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nan
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nan
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Recasts, adds details about website hack
Sept 27 (Reuters) - U.S. business and media publication Fast Company said it shut down its website on Tuesday evening after the site was hacked and sent "obscene and racist" notifications to Apple AAPL.O users via the iPhone maker's Apple News service.
News publishers using the Apple News aggregation app can connect their digital publishing tools to Apple News to send push notifications to Apple customers who subscribe to the publisher's channel. Fast Company said hackers broke into those publishing tools.
Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said in a tweet, adding it had suspended the Apple News feed until the situation was resolved.
"We are investigating the situation and have suspended the feed & shut down FastCompany.com until we are certain the situation has been resolved," the publication added.
Fast Company's website was down and the page displayed a 404 error when viewed by Reuters on Tuesday evening.
In a subsequent tweet after the shutdown, Fast Company said that its content management system - software used by news outlets to publish and manage their stories - had been hacked to send the notifications.
Apple News said in a tweet that it had disabled Fast Company's channel.
Fast Company said it had earlier suffered an "apparently related" hack of its website on Sunday afternoon, when similar language appeared on its home page, causing it to shut the site down for about two hours.
Fast Company is owned by publishing firm Mansueto Ventures LLC.
(Reporting by Abinaya Vijayaraghavan and Akriti Sharma in Bengaluru and Stephen Nellis in San Francisco; Editing by Neha Arora and Jamie Freed)
((Abinaya.V@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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Recasts, adds details about website hack Sept 27 (Reuters) - U.S. business and media publication Fast Company said it shut down its website on Tuesday evening after the site was hacked and sent "obscene and racist" notifications to Apple AAPL.O users via the iPhone maker's Apple News service. Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said in a tweet, adding it had suspended the Apple News feed until the situation was resolved. Fast Company said it had earlier suffered an "apparently related" hack of its website on Sunday afternoon, when similar language appeared on its home page, causing it to shut the site down for about two hours.
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Recasts, adds details about website hack Sept 27 (Reuters) - U.S. business and media publication Fast Company said it shut down its website on Tuesday evening after the site was hacked and sent "obscene and racist" notifications to Apple AAPL.O users via the iPhone maker's Apple News service. News publishers using the Apple News aggregation app can connect their digital publishing tools to Apple News to send push notifications to Apple customers who subscribe to the publisher's channel. Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said in a tweet, adding it had suspended the Apple News feed until the situation was resolved.
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Recasts, adds details about website hack Sept 27 (Reuters) - U.S. business and media publication Fast Company said it shut down its website on Tuesday evening after the site was hacked and sent "obscene and racist" notifications to Apple AAPL.O users via the iPhone maker's Apple News service. News publishers using the Apple News aggregation app can connect their digital publishing tools to Apple News to send push notifications to Apple customers who subscribe to the publisher's channel. Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said in a tweet, adding it had suspended the Apple News feed until the situation was resolved.
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Recasts, adds details about website hack Sept 27 (Reuters) - U.S. business and media publication Fast Company said it shut down its website on Tuesday evening after the site was hacked and sent "obscene and racist" notifications to Apple AAPL.O users via the iPhone maker's Apple News service. News publishers using the Apple News aggregation app can connect their digital publishing tools to Apple News to send push notifications to Apple customers who subscribe to the publisher's channel. Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said in a tweet, adding it had suspended the Apple News feed until the situation was resolved.
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19167.0
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2022-09-27 00:00:00 UTC
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S.Korean shares track Wall Street lower on dollar strength, rate-hike jitters
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AAPL
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https://www.nasdaq.com/articles/s.korean-shares-track-wall-street-lower-on-dollar-strength-rate-hike-jitters
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nan
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nan
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*
KOSPI falls, foreigners net sellers
*
Korean won weakens against dollar
*
South Korea benchmark bond yield jumps
SEOUL, Sept 28 (Reuters) - Round-up of South Korean financial markets:
** South Korean shares fell on Wednesday, tracking overnight Wall Street weakness, as U.S. monetary policy tightening worries and the dollar's strength weighed on sentiment. The won weakened, while the benchmark bond yield jumped.
** The benchmark KOSPI was down 6.67 points, or 0.30%, at 2,217.19 as of 0103 GMT, after falling as much as 0.84% in early trade. The index rose by a slight margin of 0.13% on Tuesday, just enough to snap a four-session losing streak.
** "The stock market has been sensitive to fluctuations in foreign exchange rates and bond yields. Volatility is yet to ease and there still remains downward pressure," said Choi Yoo-june, an analyst at Shinhan Financial Investment.
** Among heavyweights, technology giant Samsung Electronics fell 0.74%, but peer SK Hynix and battery maker LG Energy Solution rose 1.46% and 1.24%, respectively.
** Hyundai Motor fell 1.88% and its sister Kia Corp lost 1.31%, while internet platform operators Naver and Kakao declined 1.22% and 1.69%, respectively.
** LG Innotek , a camera part supplier, slipped 4.36% on reports that Apple dropped plans to increase the production of its new iPhones this year.
** Celltrion gained 2.42% after the biopharmaceutical manufacturer said it received the final U.S. sales licence for a biosimilar anticancer drug.
** Foreigners were marginally net sellers on the main board, selling shares worth 26.1 billion won ($18.24 million).
** The won was quoted at 1,431.0 per dollar on the onshore settlement platform , 0.66% lower than its previous close.
** In offshore trading, the won was quoted down 0.3% at 1,431.0 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,430.2.
** In money and debt markets, December futures on three-year treasury bonds fell 0.27 point to 101.24.
** The most liquid 3-year Korean treasury bond yield rose by 9.3 basis points to 4.387%, while the benchmark 10-year yield jumped by 13.4 basis points to 4.340%. ($1 = 1,430.8700 won) (Reporting by Jihoon Lee; Editing by Rashmi Aich) ((jihoon.lee@thomsonreuters.com;)) Keywords: SOUTHKOREA MARKETS/MIDDAY
The views and 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 heavyweights, technology giant Samsung Electronics fell 0.74%, but peer SK Hynix and battery maker LG Energy Solution rose 1.46% and 1.24%, respectively. ** Hyundai Motor fell 1.88% and its sister Kia Corp lost 1.31%, while internet platform operators Naver and Kakao declined 1.22% and 1.69%, respectively. ** LG Innotek , a camera part supplier, slipped 4.36% on reports that Apple dropped plans to increase the production of its new iPhones this year.
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* KOSPI falls, foreigners net sellers * Korean won weakens against dollar * South Korea benchmark bond yield jumps SEOUL, Sept 28 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares fell on Wednesday, tracking overnight Wall Street weakness, as U.S. monetary policy tightening worries and the dollar's strength weighed on sentiment. The won weakened, while the benchmark bond yield jumped. ** The most liquid 3-year Korean treasury bond yield rose by 9.3 basis points to 4.387%, while the benchmark 10-year yield jumped by 13.4 basis points to 4.340%.
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* KOSPI falls, foreigners net sellers * Korean won weakens against dollar * South Korea benchmark bond yield jumps SEOUL, Sept 28 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares fell on Wednesday, tracking overnight Wall Street weakness, as U.S. monetary policy tightening worries and the dollar's strength weighed on sentiment. ** In offshore trading, the won was quoted down 0.3% at 1,431.0 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,430.2. ** The most liquid 3-year Korean treasury bond yield rose by 9.3 basis points to 4.387%, while the benchmark 10-year yield jumped by 13.4 basis points to 4.340%.
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* KOSPI falls, foreigners net sellers * Korean won weakens against dollar * South Korea benchmark bond yield jumps SEOUL, Sept 28 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares fell on Wednesday, tracking overnight Wall Street weakness, as U.S. monetary policy tightening worries and the dollar's strength weighed on sentiment. ** In offshore trading, the won was quoted down 0.3% at 1,431.0 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,430.2. ** The most liquid 3-year Korean treasury bond yield rose by 9.3 basis points to 4.387%, while the benchmark 10-year yield jumped by 13.4 basis points to 4.340%.
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19168.0
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2022-09-27 00:00:00 UTC
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Apple drops iPhone production increase plans as demand falters - Bloomberg News
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AAPL
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https://www.nasdaq.com/articles/apple-drops-iphone-production-increase-plans-as-demand-falters-bloomberg-news
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nan
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nan
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Sept 27 (Reuters) - Apple Inc AAPL.O is dropping plans to increase the production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday.
Apple did not immediately respond to a Reuters request for a comment.
(Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Rashmi Aich)
((Jahnavi.Nidumolu@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sept 27 (Reuters) - Apple Inc AAPL.O is dropping plans to increase the production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday. Apple did not immediately respond to a Reuters request for a comment. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Rashmi Aich) ((Jahnavi.Nidumolu@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sept 27 (Reuters) - Apple Inc AAPL.O is dropping plans to increase the production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday. Apple did not immediately respond to a Reuters request for a comment. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Rashmi Aich) ((Jahnavi.Nidumolu@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sept 27 (Reuters) - Apple Inc AAPL.O is dropping plans to increase the production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday. Apple did not immediately respond to a Reuters request for a comment. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Rashmi Aich) ((Jahnavi.Nidumolu@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sept 27 (Reuters) - Apple Inc AAPL.O is dropping plans to increase the production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday. Apple did not immediately respond to a Reuters request for a comment. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Rashmi Aich) ((Jahnavi.Nidumolu@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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19169.0
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2022-09-27 00:00:00 UTC
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Meta Platforms (META) Launches Features to Drive User Growth
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AAPL
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https://www.nasdaq.com/articles/meta-platforms-meta-launches-features-to-drive-user-growth
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nan
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nan
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Meta Platforms META recently unveiled new features to switch between and create new accounts and profiles on Facebook and Instagram more easily.
Meta’s new features will allow both Facebook and Instagram users to switch between the two social media profiles through the same Accounts Center, and people can view their Facebook and Instagram profiles in one place.
To deal with rising security concerns, Meta is also concentrating on developing its privacy and security factors. In addition to its two-factor notification, which will still apply to the new updates, users will be updated if new Instagram and Facebook accounts are created using their existing accounts.
Meta’s legal woes are ever-increasing and negatively impacting user growth across its platforms. Early September 2022 Instagram was slapped by Ireland’s data regulators with a €405 million fine for violating the European Union’s General Data Protection Regulation and failing to protect children’s information.
Earlier in March, META was fined €17 million by the Irish regulator following an investigation into a data breach on Facebook. Last year, it was fined €225 million for violating privacy laws on WhatsApp.
Meta’s recent launch of new features will help users navigate its different platforms seamlessly and more securely. It expects these features to boost its user growth and drive ad revenues.
Meta Platforms, Inc. Price and Consensus
Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote
Meta Driving User Growth to Boost Share Price
META is currently facing the worst downturn in its history with its declining digital advertisement revenues.
The recent revenue fall can be attributed to geopolitical tensions like the Russia-Ukraine war, which reduced META’s monthly active users across its family of apps, namely Facebook and Instagram. Also, rising inflation weakened digital advertising revenues. This, in turn, hurt investors’ sentiments around the ad revenue-dependent companies.
Also impacting Meta’s ad revenue growth are ad targeting-related headwinds created by Apple’s AAPL iOS changes.
Apple’s iOS changes have made ad targeting difficult, which has increased the cost of driving outcomes. Measuring these outcomes is very difficult, and Meta expects these factors to hurt advertising growth in the third quarter and throughout 2022.
Shares of Meta, which currently has a Zacks Rank #5 (Strong Sell), have tumbled 59.5% in the year-to-date period compared with the Zacks Internet – Software industry’s decline of 53.7%.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Intensifying competition for ad dollars and user engagement from the likes of Snap SNAP, Twitter TWTR and TikTok is another persistent headwind.
Snap is benefiting from improving user engagement, particularly in the 13-34-year-old demography, which is expanding its advertiser base. SNAP is also giving competition to META in the metaverse space. It collaborated with Vogue to feature a virtual try-on experience of select pieces from Balenciaga, Dior and Gucci, which will be available for snapchatters, globally.
Even as Meta is investing aggressively in building the metaverse, Twitter surpassed it as the first social media giant to enter the non-fungible token marketplace by launching a tool to showcase and sell NFTs on its platform.
Rising legal woes, strong competition and geopolitical headwinds negatively impacted revenue growth in the second quarter of 2022.
Revenues of $28.82 billion beat the Zacks Consensus Estimate by 0.44% but decreased 0.9% year over year. At constant currency (cc), the top line improved 3%.
Although Meta’s short-term revenue growth looks bleak, it is confident about its long-term prospects. It is pumping resources into developing AI to address solutions for megatrends like a hybrid work environment, which will drive its user base across various platforms like Meta Portal Go. Investments in AI are also expected to draw higher revenues from Meta’s ad business.
Further, Meta’s investments in AI will allow social feeds on Facebook and Instagram to be more recommended by AI, reducing privacy breaches and protecting its users' data.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Also impacting Meta’s ad revenue growth are ad targeting-related headwinds created by Apple’s AAPL iOS changes. Apple Inc. (AAPL): Free Stock Analysis Report The recent revenue fall can be attributed to geopolitical tensions like the Russia-Ukraine war, which reduced META’s monthly active users across its family of apps, namely Facebook and Instagram.
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Also impacting Meta’s ad revenue growth are ad targeting-related headwinds created by Apple’s AAPL iOS changes. Apple Inc. (AAPL): Free Stock Analysis Report Meta Platforms, Inc. Price and Consensus Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote Meta Driving User Growth to Boost Share Price META is currently facing the worst downturn in its history with its declining digital advertisement revenues.
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Also impacting Meta’s ad revenue growth are ad targeting-related headwinds created by Apple’s AAPL iOS changes. Apple Inc. (AAPL): Free Stock Analysis Report Meta Platforms META recently unveiled new features to switch between and create new accounts and profiles on Facebook and Instagram more easily.
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Also impacting Meta’s ad revenue growth are ad targeting-related headwinds created by Apple’s AAPL iOS changes. Apple Inc. (AAPL): Free Stock Analysis Report Meta Platforms, Inc. Price and Consensus Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote Meta Driving User Growth to Boost Share Price META is currently facing the worst downturn in its history with its declining digital advertisement revenues.
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19170.0
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2022-09-27 00:00:00 UTC
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Fast Company's website shuts after Apple News feed hacked
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AAPL
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https://www.nasdaq.com/articles/fast-companys-website-shuts-after-apple-news-feed-hacked
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nan
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nan
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Sept 27 (Reuters) - U.S. business and media publication Fast Company's Apple News account was hacked on Tuesday evening, the company said, prompting it to shut down the website.
Apple Inc's AAPL.O Apple News, had also disabled their channel with the Fast Company, the news aggregator app said in a tweet.
Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said, adding, it had suspended the Apple News feed until the situation was resolved.
"We are investigating the situation and have suspended the feed & shutdown FastCompany.com until we are certain the situation has been resolved," the publication said its tweet.
Fast Company's website was down, with the page displaying a 404 error.
Fast Company is owned by publishing firm Mansueto Ventures LLC.
(Reporting by Abinaya Vijayaraghavan and Akriti Sharma in Bengaluru; Editing by Neha Arora)
((Abinaya.V@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's AAPL.O Apple News, had also disabled their channel with the Fast Company, the news aggregator app said in a tweet. Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said, adding, it had suspended the Apple News feed until the situation was resolved. Fast Company is owned by publishing firm Mansueto Ventures LLC.
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Apple Inc's AAPL.O Apple News, had also disabled their channel with the Fast Company, the news aggregator app said in a tweet. Sept 27 (Reuters) - U.S. business and media publication Fast Company's Apple News account was hacked on Tuesday evening, the company said, prompting it to shut down the website. Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said, adding, it had suspended the Apple News feed until the situation was resolved.
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Apple Inc's AAPL.O Apple News, had also disabled their channel with the Fast Company, the news aggregator app said in a tweet. Sept 27 (Reuters) - U.S. business and media publication Fast Company's Apple News account was hacked on Tuesday evening, the company said, prompting it to shut down the website. Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said, adding, it had suspended the Apple News feed until the situation was resolved.
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Apple Inc's AAPL.O Apple News, had also disabled their channel with the Fast Company, the news aggregator app said in a tweet. Hackers sent two "obscene and racist push notifications" about a minute apart, Fast Company said, adding, it had suspended the Apple News feed until the situation was resolved. Fast Company's website was down, with the page displaying a 404 error.
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19171.0
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2022-09-27 00:00:00 UTC
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Apple’s Big Change Showcases This New Megatrend
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AAPL
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https://www.nasdaq.com/articles/apples-big-change-showcases-this-new-megatrend
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nan
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nan
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Dave Gilbert here, Editor of Smart Money.
Designed by Apple in California. Assembled in China.
If you’ve bought any Apple Inc. (AAPL) products through the years – and chances are you have based on the iPhone now claiming 50% of U.S. market share – you’ve probably seen that language printed on the box.
It pretty much summed up the production process. Apple designed its products and then outsourced the manufacturing to China, which provided cheaper labor and resources.
Apple, of course, was not alone. China has been a manufacturing powerhouse, leading the world in total production value for 11 consecutive years. China makes up nearly 30% of the global manufacturing industry. Based on how often Made in China appears on products we purchase, it seems it would be even higher than that.
But this well-established trend is at least slowing if not reversing.
Assembled in China appears on fewer Apple products now than it used to, and more of the company’s manufacturing is expected to shift to other countries.
This is more than just interesting. It has implications for investors…
Change Is in the Air
Apple confirmed yesterday that it is manufacturing the new iPhone 14 in India as it moves some production out of China. The company has been assembling older iPhones in India since 2017, so production there isn’t completely new. What’s new is assembling the current flagship model in India.
To be clear, most iPhone production continues to take place in China. But the shift is real. According to JPMorgan, Apple will make 5% of its iPhone 14 units in India by the end of this year.
There are a couple of reasons for Apple’s shift. One is simply to sell more phones in India. Even though India is the second-largest smartphone market in the world, Apple held just 3.8% of the market last year, losing out to lower-cost phone makers, including Samsung. iPhones do lead the “ultra-premium” smartphone market, which some analysts say is just beginning to grow in India.
The second reason for the shift is to reduce reliance on China. Overreliance on anything is a risk for companies, but China’s lockdowns and aggressive response to COVID have disrupted production and created supply-chain issues around the world. Apple would clearly like to lessen some of that risk.
Eric Fry was way ahead of the game when he clearly identified this shift exactly two years ago in the September 2020 issue of Fry’s Investment Report…
… there’s no mistaking the direction the political winds are blowing. And these winds are stirring up a powerful new investment trend that I’ve been calling “NMIC” – Not Made in China…
In the wake of the coronavirus crisis, we Americans have become more alert to the vulnerability of foreign supply chains, especially those that originate in places like Russia and China…
To Eric, the pandemic laid bare the dangers of overdependence on China and other foreign supply chains. Everything from a war to a global health crisis to the changing whims of a nation’s leaders could choke off sources of critical goods and ingredients. He followed up his initial analysis earlier this year…
“Made in China” is becoming both a political and supply-chain risk for numerous companies in the United States and elsewhere… [A] growing number of Western companies are moving to eliminate or reduce Chinese production from their supply chains, if they can do so responsibly and cost-effectively.
A shift to “Made in America” would be the optimal outcome for many of these companies, but the first order of business is simply to establish production that is “Not Made in China.”
Prior to the COVID pandemic, America’s growing reliance on China-based production of numerous goods seemed mildly galling, but convenient.
Although we certainly didn’t like exporting manufacturing jobs overseas, we didn’t mind buying China-made goods for a fraction of what the U.S.-made equivalent would cost.
Then came COVID.
Suddenly, our conveniently low-priced supply of China-made goods seemed much less convenient. Costume jewelry, cat toys, and action figures from China continued to flood Walmart shelves, but many basic, and/or essential China-made products like facemasks, syringes and antibiotics were nowhere to be found.
Suddenly, we Americans discovered that we had become overly reliant on China for various products. Because of this realization, ramping up U.S. production of key raw materials and products became “priority #1” in boardrooms across America.
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Opportunities for Both Companies and Investors
Two years after Eric first shared his analysis, we continue to see this diversification of production. In fact, it has accelerated because of the war in Ukraine and Russia’s growing status as a global pariah that nobody wants to do business with.
Eric tells me it has even given rise to new terminology. We’re all familiar with “offshoring,” which is sending manufacturing overseas to take advantage of cheaper costs.
Now, you may hear more about “onshoring” or “reshoring,” which both mean bring offshore manufacturing and jobs back home.
And now there is also “nearshoring.” That means bringing production closer to home, thereby reducing supply-chain risk and transportation costs.
So there you have it. If we’re inventing words to describe the phenomenon, there must be something to it.
Energy is probably at the top of the priority list. Europe continues to face an oil and gas crisis because it has been so highly dependent on Russia for energy resources. Things could get scary this winter when demand for heat peaks, and officials are already talking about rolling blackouts and shutting down factories. Residents are already stocking up on firewood.
Manufacturing is a massive global industry. Research firm Interact Analysis projects worldwide manufacturing production will reach $44.5 trillion in 2022. When even a small portion of that is disrupted, you’re talking about big numbers. And that can mean opportunities for both companies and investors.
Regards,
Dave
P.S. “These 10 Stocks are set to THRIVE – No Matter What Comes Next”
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The post Apple’s Big Change Showcases This New Megatrend 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.
|
If you’ve bought any Apple Inc. (AAPL) products through the years – and chances are you have based on the iPhone now claiming 50% of U.S. market share – you’ve probably seen that language printed on the box. Overreliance on anything is a risk for companies, but China’s lockdowns and aggressive response to COVID have disrupted production and created supply-chain issues around the world. Costume jewelry, cat toys, and action figures from China continued to flood Walmart shelves, but many basic, and/or essential China-made products like facemasks, syringes and antibiotics were nowhere to be found.
|
If you’ve bought any Apple Inc. (AAPL) products through the years – and chances are you have based on the iPhone now claiming 50% of U.S. market share – you’ve probably seen that language printed on the box. He followed up his initial analysis earlier this year… “Made in China” is becoming both a political and supply-chain risk for numerous companies in the United States and elsewhere… [A] growing number of Western companies are moving to eliminate or reduce Chinese production from their supply chains, if they can do so responsibly and cost-effectively. A shift to “Made in America” would be the optimal outcome for many of these companies, but the first order of business is simply to establish production that is “Not Made in China.” Prior to the COVID pandemic, America’s growing reliance on China-based production of numerous goods seemed mildly galling, but convenient.
|
If you’ve bought any Apple Inc. (AAPL) products through the years – and chances are you have based on the iPhone now claiming 50% of U.S. market share – you’ve probably seen that language printed on the box. Assembled in China appears on fewer Apple products now than it used to, and more of the company’s manufacturing is expected to shift to other countries. He followed up his initial analysis earlier this year… “Made in China” is becoming both a political and supply-chain risk for numerous companies in the United States and elsewhere… [A] growing number of Western companies are moving to eliminate or reduce Chinese production from their supply chains, if they can do so responsibly and cost-effectively.
|
If you’ve bought any Apple Inc. (AAPL) products through the years – and chances are you have based on the iPhone now claiming 50% of U.S. market share – you’ve probably seen that language printed on the box. China makes up nearly 30% of the global manufacturing industry. Assembled in China appears on fewer Apple products now than it used to, and more of the company’s manufacturing is expected to shift to other countries.
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19172.0
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2022-09-27 00:00:00 UTC
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US STOCKS-Wall Street set to open higher after brutal selloff
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-set-to-open-higher-after-brutal-selloff
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nan
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nan
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By Susan Mathew and Ankika Biswas
Sept 27 (Reuters) - Wall Street was headed for a higher open on Tuesday after five sessions of relentless selling on worries of a rate-hike induced economic slowdown, which saw its main indexes slip deeper into a bear market.
Rate-sensitive growth shares led the advance in premarket trading, a day after the Dow Jones Industrial Average .DJI confirmed it has been in a bear market since early January.
Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.4% and 2.6% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. US/
"We could see a near-term bottom," said Jason Pride, chief investment officer for private wealth at Glenmede, adding that certain technical indicators still showed a strong negative sentiment, suggesting that the market is a bit oversold.
"But that bottom may be more of a bear market rally similar to the one experienced earlier this summer."
The benchmark S&P 500 index .SPX has since relinquished the last of its gains made in a summer rally.
At 8:35 a.m. ET, Dow e-minis 1YMcv1 were up 333 points, or 1.13%, S&P 500 e-minis EScv1 were up 52.25 points, or 1.42%, and Nasdaq 100 e-minis NQcv1 were up 189.25 points, or 1.67%.
Concerns about corporate profits coming under pressure from soaring prices, an economic downturn and higher interest rates have roiled Wall Street in the past two weeks.
Analysts have cut their S&P 500 earnings estimates for the third and fourth quarters, and for all of 2022. For the third quarter, overall S&P 500 earnings are seen rising just 4.6% year-over-year, compared with the 11.1% growth expected at the start of July.
Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping U.S. stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation.
Chicago Fed President Charles Evans said the central bank will need to raise interest rates by at least another percentage point this year, highlighting the Fed's combative stance to quash too-high inflation.
Analysts at Wells Fargo now see the U.S. central bank taking its target range for the Fed funds rate to 4.75%-5.00% by the first quarter of 2023.
Oil stocks got a shot in the arm following a sharp recovery in crude prices, with Exxon Mobil Corp XOM.N and Chevron Corp CVX.N up about 1.5% each.
Moderna Inc MRNA.O gained 1.5% after the U.S. Food and Drug Administration on Monday authorized an additional five batches of the vaccine maker's updated COVID-19 booster shots made at Catalent facility in Indiana.
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta)
((susan.mathew@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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Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.4% and 2.6% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. By Susan Mathew and Ankika Biswas Sept 27 (Reuters) - Wall Street was headed for a higher open on Tuesday after five sessions of relentless selling on worries of a rate-hike induced economic slowdown, which saw its main indexes slip deeper into a bear market. US/ "We could see a near-term bottom," said Jason Pride, chief investment officer for private wealth at Glenmede, adding that certain technical indicators still showed a strong negative sentiment, suggesting that the market is a bit oversold.
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Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.4% and 2.6% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. By Susan Mathew and Ankika Biswas Sept 27 (Reuters) - Wall Street was headed for a higher open on Tuesday after five sessions of relentless selling on worries of a rate-hike induced economic slowdown, which saw its main indexes slip deeper into a bear market. Concerns about corporate profits coming under pressure from soaring prices, an economic downturn and higher interest rates have roiled Wall Street in the past two weeks.
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Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.4% and 2.6% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. By Susan Mathew and Ankika Biswas Sept 27 (Reuters) - Wall Street was headed for a higher open on Tuesday after five sessions of relentless selling on worries of a rate-hike induced economic slowdown, which saw its main indexes slip deeper into a bear market. ET, Dow e-minis 1YMcv1 were up 333 points, or 1.13%, S&P 500 e-minis EScv1 were up 52.25 points, or 1.42%, and Nasdaq 100 e-minis NQcv1 were up 189.25 points, or 1.67%.
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Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.4% and 2.6% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. By Susan Mathew and Ankika Biswas Sept 27 (Reuters) - Wall Street was headed for a higher open on Tuesday after five sessions of relentless selling on worries of a rate-hike induced economic slowdown, which saw its main indexes slip deeper into a bear market. The benchmark S&P 500 index .SPX has since relinquished the last of its gains made in a summer rally.
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19173.0
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2022-09-27 00:00:00 UTC
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Apple To Make IPhone 14 In India
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AAPL
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https://www.nasdaq.com/articles/apple-to-make-iphone-14-in-india
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nan
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nan
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(RTTNews) - Tech giant Apple Inc. (AAPL) has shifted some production of its flagship smartphone iPhone 14 from China to India.
"The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," the company said in a statement.
Foxconn, which is Apple's key iPhone assembler, will manufacture the smartphone at its Sriperumbudur factory on the outskirts of Chennai, India.
This is the first time the company will be manufacturing its latest smartphone model in India, although it had been building older models in the country since 2017.
Apple launched the iPhone 14 earlier this month. The company will sell India-produced phones locally but also export them to other markets globally.
Apple assembles most of its iPhones in China, however, the continuing tensions between the US and China has prompted the company to transfer some of its production outside the country.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Tech giant Apple Inc. (AAPL) has shifted some production of its flagship smartphone iPhone 14 from China to India. "The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. Foxconn, which is Apple's key iPhone assembler, will manufacture the smartphone at its Sriperumbudur factory on the outskirts of Chennai, India.
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(RTTNews) - Tech giant Apple Inc. (AAPL) has shifted some production of its flagship smartphone iPhone 14 from China to India. We're excited to be manufacturing iPhone 14 in India," the company said in a statement. Foxconn, which is Apple's key iPhone assembler, will manufacture the smartphone at its Sriperumbudur factory on the outskirts of Chennai, India.
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(RTTNews) - Tech giant Apple Inc. (AAPL) has shifted some production of its flagship smartphone iPhone 14 from China to India. Foxconn, which is Apple's key iPhone assembler, will manufacture the smartphone at its Sriperumbudur factory on the outskirts of Chennai, India. Apple assembles most of its iPhones in China, however, the continuing tensions between the US and China has prompted the company to transfer some of its production outside the country.
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(RTTNews) - Tech giant Apple Inc. (AAPL) has shifted some production of its flagship smartphone iPhone 14 from China to India. "The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," the company said in a statement.
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19174.0
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2022-09-27 00:00:00 UTC
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Is FlexShares Morningstar U.S. Market Factor Tilt ETF (TILT) a Strong ETF Right Now?
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AAPL
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https://www.nasdaq.com/articles/is-flexshares-morningstar-u.s.-market-factor-tilt-etf-tilt-a-strong-etf-right-now-4
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nan
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nan
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The FlexShares Morningstar U.S. Market Factor Tilt ETF (TILT) made its debut on 09/16/2011, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - All Cap Blend category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.
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
Because the fund has amassed over $1.30 billion, this makes it one of the larger ETFs in the Style Box - All Cap Blend. TILT is managed by Flexshares. This particular fund, before fees and expenses, seeks to match the performance of the Morningstar U.S. Market Factor Tilt Index.
The Morningstar U.S. Market Factor Tilt Index measures the performance of U.S. equity markets with increased exposure toward small-capitalization and value stocks.
Cost & Other Expenses
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 cousins, other things remaining the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.25%.
The fund has a 12-month trailing dividend yield of 1.69%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
Representing 21.40% of the portfolio, the fund has heaviest allocation to the Information Technology sector; Financials and Healthcare round out the top three.
Taking into account individual holdings, Apple Inc Common Stock Usd 0.00001 (AAPL) accounts for about 4.54% of the fund's total assets, followed by Microsoft Corp Common Stock Usd 0.00000625 (MSFT) and Amazon.com Inc Common Stock Usd 0.01 (AMZN).
TILT's top 10 holdings account for about 15.35% of its total assets under management.
Performance and Risk
Year-to-date, the FlexShares Morningstar U.S. Market Factor Tilt ETF has lost about -22.89% so far, and is down about -17.96% over the last 12 months (as of 09/27/2022). TILT has traded between $139.93 and $184.34 in this past 52-week period.
The fund has a beta of 1.08 and standard deviation of 25.45% for the trailing three-year period, which makes TILT a medium risk choice in this particular space. With about 2282 holdings, it effectively diversifies company-specific risk.
Alternatives
FlexShares Morningstar U.S. Market Factor Tilt ETF is a reasonable option for investors seeking to outperform the Style Box - All Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Core S&P Total U.S. Stock Market ETF (ITOT) tracks S&P Total Market Index and the Vanguard Total Stock Market ETF (VTI) tracks CRSP US Total Market Index. IShares Core S&P Total U.S. Stock Market ETF has $39.11 billion in assets, Vanguard Total Stock Market ETF has $240.06 billion. ITOT has an expense ratio of 0.03% and VTI charges 0.03%.
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 Blend.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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FlexShares Morningstar U.S. Market Factor Tilt ETF (TILT): 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
Vanguard Total Stock Market ETF (VTI): ETF Research Reports
iShares Core S&P Total U.S. Stock Market ETF (ITOT): 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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Taking into account individual holdings, Apple Inc Common Stock Usd 0.00001 (AAPL) accounts for about 4.54% of the fund's total assets, followed by Microsoft Corp Common Stock Usd 0.00000625 (MSFT) and Amazon.com Inc Common Stock Usd 0.01 (AMZN). Apple Inc. (AAPL): Free Stock Analysis Report 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.
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Taking into account individual holdings, Apple Inc Common Stock Usd 0.00001 (AAPL) accounts for about 4.54% of the fund's total assets, followed by Microsoft Corp Common Stock Usd 0.00000625 (MSFT) and Amazon.com Inc Common Stock Usd 0.01 (AMZN). Apple Inc. (AAPL): Free Stock Analysis Report Alternatives FlexShares Morningstar U.S. Market Factor Tilt ETF is a reasonable option for investors seeking to outperform the Style Box - All Cap Blend segment of the market.
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Taking into account individual holdings, Apple Inc Common Stock Usd 0.00001 (AAPL) accounts for about 4.54% of the fund's total assets, followed by Microsoft Corp Common Stock Usd 0.00000625 (MSFT) and Amazon.com Inc Common Stock Usd 0.01 (AMZN). Apple Inc. (AAPL): Free Stock Analysis Report The FlexShares Morningstar U.S. Market Factor Tilt ETF (TILT) made its debut on 09/16/2011, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - All Cap Blend category of the market.
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Taking into account individual holdings, Apple Inc Common Stock Usd 0.00001 (AAPL) accounts for about 4.54% of the fund's total assets, followed by Microsoft Corp Common Stock Usd 0.00000625 (MSFT) and Amazon.com Inc Common Stock Usd 0.01 (AMZN). Apple Inc. (AAPL): Free Stock Analysis Report The FlexShares Morningstar U.S. Market Factor Tilt ETF (TILT) made its debut on 09/16/2011, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - All Cap Blend category of the market.
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19175.0
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2022-09-27 00:00:00 UTC
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After Hours Most Active for Sep 27, 2022 : LESL, BEKE, CHNG, T, INFY, AMX, TQQQ, LUMN, AAPL, NLOK, QQQ, INT
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AAPL
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https://www.nasdaq.com/articles/after-hours-most-active-for-sep-27-2022-%3A-lesl-beke-chng-t-infy-amx-tqqq-lumn-aapl-nlok
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nan
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nan
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The NASDAQ 100 After Hours Indicator is down -3.91 to 11,267.84. The total After hours volume is currently 92,706,401 shares traded.
The following are the most active stocks for the after hours session:
Leslie's, Inc. (LESL) is unchanged at $14.25, with 13,601,204 shares traded. As reported in the last short interest update the days to cover for LESL is 17.04233; this calculation is based on the average trading volume of the stock.
KE Holdings Inc (BEKE) is unchanged at $16.59, with 5,374,733 shares traded. As reported by Zacks, the current mean recommendation for BEKE is in the "buy range".
Change Healthcare Inc. (CHNG) is +0.0211 at $27.38, with 4,310,673 shares traded., following a 52-week high recorded in today's regular session.
AT&T Inc. (T) is unchanged at $15.73, with 4,243,087 shares traded. T's current last sale is 70.7% of the target price of $22.25.
Infosys Limited (INFY) is +0.0307 at $16.82, with 2,166,219 shares traded. INFY's current last sale is 80.1% of the target price of $21.
America Movil, S.A.B. de C.V. (AMX) is unchanged at $17.32, with 2,020,958 shares traded. As reported by Zacks, the current mean recommendation for AMX is in the "buy range".
ProShares UltraPro QQQ (TQQQ) is +0.03 at $21.07, with 2,019,909 shares traded. This represents a 3.03% increase from its 52 Week Low.
Lumen Technologies, Inc. (LUMN) is +0.02 at $7.62, with 1,731,267 shares traded., following a 52-week high recorded in today's regular session.
Apple Inc. (AAPL) is -0.13 at $151.63, with 1,617,410 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
NortonLifeLock Inc. (NLOK) is unchanged at $20.52, with 1,571,404 shares traded. NLOK's current last sale is 76% of the target price of $27.
Invesco QQQ Trust, Series 1 (QQQ) is +0.1699 at $274.65, with 1,409,846 shares traded. This represents a 1.99% increase from its 52 Week Low.
World Fuel Services Corporation (INT) is unchanged at $23.37, with 1,237,188 shares traded. As reported by Zacks, the current mean recommendation for INT is in the "strong 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 -0.13 at $151.63, with 1,617,410 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". As reported in the last short interest update the days to cover for LESL is 17.04233; this calculation is based on the average trading volume of the stock.
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Apple Inc. (AAPL) is -0.13 at $151.63, with 1,617,410 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The total After hours volume is currently 92,706,401 shares traded.
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Apple Inc. (AAPL) is -0.13 at $151.63, with 1,617,410 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". AT&T Inc. (T) is unchanged at $15.73, with 4,243,087 shares traded.
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Apple Inc. (AAPL) is -0.13 at $151.63, with 1,617,410 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". The following are the most active stocks for the after hours session:
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19176.0
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2022-09-27 00:00:00 UTC
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Charter's (CHTR) Spectrum Launches on Comcast XClass TV
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AAPL
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https://www.nasdaq.com/articles/charters-chtr-spectrum-launches-on-comcast-xclass-tv
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nan
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nan
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Charter Communications’ CHTR Spectrum has launched the Spectrum TV app on Comcast’s CMCSA XClass TV. Spectrum’s collaboration with XClass TV will make its tv app available automatically across all XClass TV and can be activated with voice remote and voice recognition.
Additionally, Spectrum is delivering its TV services across Android and Apple’s AAPL smartphones, Roku, Xbox, Google Chromecast and Samsung smart TVs.
The XClass TV is currently available across all Walmart retail stores and Walmart.com. CHTR’s launch of the Spectrum TV app on XClass TV is in line with its strategy to collaborate with Comcast to develop and offer a new streaming platform on various branded 4K streaming devices and smart TVs. The joint venture will help it to attract new customers.
Charter’s Collaboration Strategy to Aid Stock Price
Charter shares have lost 29.7% in the year-to-date period compared with the Zacks Cable Television industry’s decline of 24.5%.
CHTR experienced slow top-line growth in the second quarter of 2022. It reported revenues of $13.598 billion, which increased 6.2% on a year-over-year basis.
Growth slowed down due to lower new activation of Internet users. CHTR had 30.253 million Internet customers in the second quarter of 2022, up 2.1% year over year. Charter lost 21K Internet customers in the last reported quarter.
Also, CHTR lost 226,000 video customers in the second quarter, with the market being mostly saturated. The space is dominated by big streaming service providers like Netflix NFLX and Amazon Prime Video, which heighten the competition for Charter.
Netflix has been spending aggressively on building its original content portfolio, and the company is still enjoying its leading position in the streaming industry. It is the most prominent competitor of CHTR in the video-streaming space.
Charter Communications, Inc. Price and Consensus
Charter Communications, Inc. price-consensus-chart | Charter Communications, Inc. Quote
However, the availability of Apple TV along with other streaming platforms on its TV app will help Charter ward off competition from Netflix and Amazon. As of Jun 30, 2022, CHTR had 32.124 million total customer relationships, up 1.1% year over year.
Also, Charter, which currently carries a Zacks Rank# 3 (Hold), recently announced the launch of Spectrum Internet, Mobile, TV and Voice services to more than 540 homes and small businesses in the Northwoods regions of Arbor Vitae, Woodruff, Three Lakes and the Town of Piehl, WI. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Spectrum’s recent unveiling of advanced communications services in Marathon County, WI, is in line with its strategy of making investments to extend gigabit broadband networks to unserved communities across the United States and win customers as the first mover in these areas. This is expected further aid CHTR in warding off competition.
Charter’s strategy to invest $5 billion in constructing a fiber-optic network buildout will help provide broadband access to approximately 1 million customer locations across 24 states in the coming years. This, in turn, is expected to expand CHTR’s customer base extensively and aid in its top-line growth.
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Apple Inc. (AAPL): Free Stock Analysis Report
Comcast Corporation (CMCSA): Free Stock Analysis Report
Netflix, Inc. (NFLX): Free Stock Analysis Report
Charter Communications, Inc. (CHTR): 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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Additionally, Spectrum is delivering its TV services across Android and Apple’s AAPL smartphones, Roku, Xbox, Google Chromecast and Samsung smart TVs. Apple Inc. (AAPL): Free Stock Analysis Report Also, Charter, which currently carries a Zacks Rank# 3 (Hold), recently announced the launch of Spectrum Internet, Mobile, TV and Voice services to more than 540 homes and small businesses in the Northwoods regions of Arbor Vitae, Woodruff, Three Lakes and the Town of Piehl, WI.
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Apple Inc. (AAPL): Free Stock Analysis Report Additionally, Spectrum is delivering its TV services across Android and Apple’s AAPL smartphones, Roku, Xbox, Google Chromecast and Samsung smart TVs. Charter Communications’ CHTR Spectrum has launched the Spectrum TV app on Comcast’s CMCSA XClass TV.
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Additionally, Spectrum is delivering its TV services across Android and Apple’s AAPL smartphones, Roku, Xbox, Google Chromecast and Samsung smart TVs. Apple Inc. (AAPL): Free Stock Analysis Report Charter Communications’ CHTR Spectrum has launched the Spectrum TV app on Comcast’s CMCSA XClass TV.
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Additionally, Spectrum is delivering its TV services across Android and Apple’s AAPL smartphones, Roku, Xbox, Google Chromecast and Samsung smart TVs. Apple Inc. (AAPL): Free Stock Analysis Report Charter Communications’ CHTR Spectrum has launched the Spectrum TV app on Comcast’s CMCSA XClass TV.
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19177.0
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2022-09-27 00:00:00 UTC
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2 Beaten-Down Stocks to Buy Before the Next Bull Market Begins
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AAPL
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https://www.nasdaq.com/articles/2-beaten-down-stocks-to-buy-before-the-next-bull-market-begins
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nan
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nan
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The Federal Reserve's latest 75-basis-point interest rate hike sent another shockwave through the stock market, ramping up worries among investors about inflation and possible recession.
The benchmark federal funds rate now ranges between 3% and 3.25% (the highest since 2008). Fed officials admit further hikes could come this year, estimating that the benchmark rate could hit 4.4% by the end of 2022, and rise to 4.6% sometime in 2023. The central bank is optimistic that inflation will decelerate next year, increasing 2.8% overall in 2023 as compared to an estimated 5.4% overall rise in 2022.
If interest rate hikes do ease, the stock market may calm a bit next year. This probably explains why investment banker Stifel Financial forecasts the S&P 500 will rally to 4,400 points in the first quarter of 2023. That would represent a 19% upside from the current levels, with Stifel estimating that the stock market may start rallying in November.
If Stifel's forecast holds true, now may be a good time for investors to start accumulating shares in some beaten-down companies. Stifel advises that investors buy big tech stocks to position themselves for a potential rally. Two tech stocks, Apple (NASDAQ: AAPL) and Advanced Micro Devices (NASDAQ: AMD), are down so far in 2022 but could rally in the event of a bull market.
1. Apple looks set to finish the year on a high note
Apple's stock price is down 15% in 2022 and that has made the stock relatively cheaper than last year. Shares of Apple trade at 25 times trailing earnings, lower than 2021's price-to-earnings ratio of 31. Investors may want to grab this opportunity to buy Apple at this attractive valuation since it has the potential to surge higher if it performs well in the holiday season.
Surging inflation may temper consumer spending this holiday season. Still, analysts at Deloitte estimate that holiday sales will increase between 4% and 6% as compared to the prior year. What's more, e-commerce sales are expected to increase between 12.8% and 14.3%.
Higher consumer spending this holiday season could give the smartphone industry a boost following a torrid time so far in 2022. This could be good news for Apple, whose iPhone has defied the weakness in the smartphone industry this year thanks to upgrades by existing customers and a switch to the iOS ecosystem by erstwhile Android customers.
It appears that customers have already taken a liking to Apple's new iPhone 14 lineup, especially the higher-priced Pro models. The company has reportedly asked its manufacturing partners to increase the production of the iPhone 14 Pro and the iPhone 14 Pro Max to meet the healthy demand, a move that's likely to bump up the average selling price of the new devices. As it turns out, the iPhone 14 Pro Max reportedly has the longest delivery time of any iPhone released in the past six years.
The solid demand for Apple's iPhone 14 models isn't surprising. Wedbush analyst Daniel Ives estimates that around 240 million iPhones haven't been upgraded in the past three and a half years. Upgrades to the latest iPhones by this huge installed base could help Apple finish the year positively and carry the momentum into 2023.
Apple's growing share of the global smartphone market will be another tailwind. The share of Android smartphones slipped to 70%, compared to 77% in 2018. iPhones now command 25% of the global smartphone market, up from 20% in 2018.
All this indicates that Apple could see increases in iPhone shipments once again in the final quarter. The company reportedly asked suppliers to prepare to produce 95 million iPhone 14 units in 2022, up from 80 million units during last year's holiday quarter. Throw in a potential increase in the average selling price, and it won't be surprising to see Apple's revenue in the fiscal first quarter of 2023 (which ends in December) surpass the $128 billion analyst estimate.
The company's stronger-than-expected results could send its shares soaring, especially in the event of a bull market.
2. AMD is too cheap to ignore given its impressive growth
AMD is another stock that's likely to rally impressively in a bull market, as investors pile into a stock with a cheap valuation and eye-popping growth. The stock trades at 29 times trailing earnings, way below its five-year average earnings multiple of 101. The forward earnings multiple of just 14 points toward a big bump in AMD's bottom line.
All that isn't surprising considering AMD's terrific growth. The growing demand for the company's chips, which power data centers, computers, and gaming consoles, could help it exit 2022 with a 60% spike in revenue to $26.3 billion, according to the company's own estimate. The bump in consumer spending discussed above could prove to be a nice tailwind for AMD as well.
For instance, sales of gaming consoles could pick up this holiday season. Sony is ramping up the production of the PlayStation 5 console significantly to ensure greater availability of stock. Similarly, Valve bumped up the production of the Steam Deck handheld to meet the healthy customer demand. Both Valve's and Sony's consoles are powered by AMD's semi-custom processors, and an increase in their production would give the chipmaker a nice shot in the arm.
Microsoft, another AMD customer using semi-custom chips in its latest Xbox consoles, expects console demand to outpace supply again this holiday season. On the other hand, the launch of AMD's latest Zen 4 central processing units in time for the holiday season could help boost its share in the PC processor space.
As sales of video games and related hardware historically peak during November and December, AMD seems well placed to finish the year on a high. A strong set of results next month coupled with an upbeat outlook could create the perfect background for AMD to rally strongly in case a bull market does begin, which is why buying the stock at its current valuation could turn out to be a prudent move.
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Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, and Microsoft. 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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Two tech stocks, Apple (NASDAQ: AAPL) and Advanced Micro Devices (NASDAQ: AMD), are down so far in 2022 but could rally in the event of a bull market. The Federal Reserve's latest 75-basis-point interest rate hike sent another shockwave through the stock market, ramping up worries among investors about inflation and possible recession. Throw in a potential increase in the average selling price, and it won't be surprising to see Apple's revenue in the fiscal first quarter of 2023 (which ends in December) surpass the $128 billion analyst estimate.
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Two tech stocks, Apple (NASDAQ: AAPL) and Advanced Micro Devices (NASDAQ: AMD), are down so far in 2022 but could rally in the event of a bull market. The company has reportedly asked its manufacturing partners to increase the production of the iPhone 14 Pro and the iPhone 14 Pro Max to meet the healthy demand, a move that's likely to bump up the average selling price of the new devices. Microsoft, another AMD customer using semi-custom chips in its latest Xbox consoles, expects console demand to outpace supply again this holiday season.
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Two tech stocks, Apple (NASDAQ: AAPL) and Advanced Micro Devices (NASDAQ: AMD), are down so far in 2022 but could rally in the event of a bull market. Apple looks set to finish the year on a high note Apple's stock price is down 15% in 2022 and that has made the stock relatively cheaper than last year. AMD is too cheap to ignore given its impressive growth AMD is another stock that's likely to rally impressively in a bull market, as investors pile into a stock with a cheap valuation and eye-popping growth.
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Two tech stocks, Apple (NASDAQ: AAPL) and Advanced Micro Devices (NASDAQ: AMD), are down so far in 2022 but could rally in the event of a bull market. Stifel advises that investors buy big tech stocks to position themselves for a potential rally. Apple looks set to finish the year on a high note Apple's stock price is down 15% in 2022 and that has made the stock relatively cheaper than last year.
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19178.0
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2022-09-27 00:00:00 UTC
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US STOCKS-Wall St deep in bear market as S&P 500 hits new two-year low
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-st-deep-in-bear-market-as-sp-500-hits-new-two-year-low
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nan
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nan
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By Shreyashi Sanyal and Ankika Biswas
Sept 27 (Reuters) - Wall Street's main indexes sank deeper into a bear market on Tuesday as an early rally in stocks faltered after Federal Reserve policymakers advocated more interest rate hikes even at the risk of slowing economic growth.
The benchmark S&P 500 .SPX erased gains of up to 1.7% by early afternoon trading to hit lows last seen in late November 2020, leaving investors worrying about how much further stocks would have to fall before stabilizing.
St. Louis Fed President James Bullard made a case for more rate hikes, while Chicago Fed President Charles Evans said the central bank will need to raise rates by at least another percentage point this year.
Analysts at Wells Fargo now see the U.S. central bank taking its target range for the Fed funds rate to 4.75%-5.00% by the first quarter of 2023.
"It's just a continuation of Jerome Powell's digging in and trying to really let markets, investors and the world know that we are going to have to continue to hike rates to get this inflation story that still remains unchecked... it'll be interesting to see if markets end in the red today," said Brandon Pizzurro, director of public investments at GuideStone Capital Management.
Pizzurro also warned of more pain for equities and said, "the worst is ahead of us and not behind us."
Most S&P 500 sector indexes turned lower, with the energy sector .SPNY clinging to gains of 1.19%.
Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, shed early gains.
The benchmark U.S. 10-year Treasury yield US10YT=RR touched its highest level in more than 12 years amid hawkish comments from Fed officials. US/
At 12:31 p.m. ET, the Dow Jones Industrial Average .DJI was down 164.66 points, or 0.56%, at 29,096.15, the S&P 500 .SPX was down 17.49 points, or 0.48%, at 3,637.55, and the Nasdaq Composite .IXIC was down 21.24 points, or 0.20%, at 10,781.68.
Concerns about corporate profits taking a hit from soaring prices, an economic downturn and higher interest rates have roiled Wall Street in the past two weeks.
Analysts have cut their S&P 500 earnings expectations for the third and fourth quarters and for the full year. For the third quarter, profit for S&P 500 companies are seen rising just 4.6% year-over-year compared with the 11.1% growth expected at the start of July.
Declining issues outnumbered advancers for a 1.29-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 1.01-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and 113 new lows, while the Nasdaq recorded 24 new highs and 323 new lows.
(Reporting by Ankika Biswas, Shreyashi Sanyal and Susan Mathew in Bengaluru; Editing by Shounak Dasgupta and Arun Koyyur)
((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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Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, shed early gains. By Shreyashi Sanyal and Ankika Biswas Sept 27 (Reuters) - Wall Street's main indexes sank deeper into a bear market on Tuesday as an early rally in stocks faltered after Federal Reserve policymakers advocated more interest rate hikes even at the risk of slowing economic growth. The benchmark S&P 500 .SPX erased gains of up to 1.7% by early afternoon trading to hit lows last seen in late November 2020, leaving investors worrying about how much further stocks would have to fall before stabilizing.
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Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, shed early gains. By Shreyashi Sanyal and Ankika Biswas Sept 27 (Reuters) - Wall Street's main indexes sank deeper into a bear market on Tuesday as an early rally in stocks faltered after Federal Reserve policymakers advocated more interest rate hikes even at the risk of slowing economic growth. The S&P index recorded no new 52-week high and 113 new lows, while the Nasdaq recorded 24 new highs and 323 new lows.
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Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, shed early gains. By Shreyashi Sanyal and Ankika Biswas Sept 27 (Reuters) - Wall Street's main indexes sank deeper into a bear market on Tuesday as an early rally in stocks faltered after Federal Reserve policymakers advocated more interest rate hikes even at the risk of slowing economic growth. St. Louis Fed President James Bullard made a case for more rate hikes, while Chicago Fed President Charles Evans said the central bank will need to raise rates by at least another percentage point this year.
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Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, shed early gains. By Shreyashi Sanyal and Ankika Biswas Sept 27 (Reuters) - Wall Street's main indexes sank deeper into a bear market on Tuesday as an early rally in stocks faltered after Federal Reserve policymakers advocated more interest rate hikes even at the risk of slowing economic growth. St. Louis Fed President James Bullard made a case for more rate hikes, while Chicago Fed President Charles Evans said the central bank will need to raise rates by at least another percentage point this year.
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19179.0
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2022-09-27 00:00:00 UTC
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US STOCKS-Growth stocks lead bounce on Wall Street after brutal selloff
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AAPL
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https://www.nasdaq.com/articles/us-stocks-growth-stocks-lead-bounce-on-wall-street-after-brutal-selloff
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nan
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nan
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By Shreyashi Sanyal and Ankika Biswas
Sept 27 (Reuters) - Wall Street's main indexes rose for the first time in six sessions on Tuesday, with megacap growth stocks doing most of the heavy lifting following a bruising selloff on worries of a rate-hike induced economic slowdown.
Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 0.4% and 3.2%.
Technology .SPLRCT, communication services .SPLRCL and consumer discretionary .SPLRCD sectors led the rise with gains of about 1% each.
"We could see a near-term bottom," said Jason Pride, chief investment officer for private wealth at Glenmede, adding that certain technical indicators still showed a strong negative sentiment, suggesting that the market is a bit oversold.
"But that bottom may be more of a bear market rally similar to the one experienced earlier this summer."
At 10:10 a.m. ET, the Dow Jones Industrial Average .DJI was up 114.32 points, or 0.39%, at 29,375.13, the S&P 500 .SPX was up 21.07 points, or 0.58%, at 3,676.11, and the Nasdaq Composite .IXIC was up 103.40 points, or 0.96%, at 10,906.32.
However, the early gains showed some signs of losing steam after U.S. Federal Reserve officials reminded investors that the central bank's priority was to control domestic inflation, with St. Louis Fed President James Bullard making the case for more rate hikes to come in future meetings.
Chicago Fed President Charles Evans earlier in the day said the central bank will need to raise interest rates by at least another percentage point this year.
U.S. stocks started the week on a weak footing after the Dow Jones Industrial Average .DJI, in the previous session, confirmed it has been in a bear market since early January, while the benchmark S&P 500 index .SPX relinquished the last of its gains made in a summer rally.
Concerns about corporate profits coming under pressure from soaring prices, an economic downturn and higher interest rates have roiled Wall Street in the past two weeks.
Analysts have cut their S&P 500 earnings estimates for the third and fourth quarters, and for all of 2022. For the third quarter, S&P 500 earnings are seen rising just 4.6% year-over-year, compared with the 11.1% growth expected at the start of July.
Analysts at Wells Fargo now see the U.S. central bank taking its target range for the Fed funds rate to 4.75%-5.00% by the first quarter of 2023.
Oil stocks got a shot in the arm following a sharp recovery in crude prices, with the S&P 500 energy sector .SPNY up 1.42%.
Moderna Inc MRNA.O gained 2% after the U.S. Food and Drug Administration on Monday authorized an additional five batches of the vaccine maker's updated COVID-19 booster shots made at Catalent facility in Indiana.
Advancing issues outnumbered decliners for a 2.40-to-1 ratio on the NYSE and a 2.61-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and 15 new lows, while the Nasdaq recorded 21 new highs and 93 new lows.
(Reporting by Ankika Biswas, Shreyashi Sanyal and Susan Mathew 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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Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 0.4% and 3.2%. By Shreyashi Sanyal and Ankika Biswas Sept 27 (Reuters) - Wall Street's main indexes rose for the first time in six sessions on Tuesday, with megacap growth stocks doing most of the heavy lifting following a bruising selloff on worries of a rate-hike induced economic slowdown. However, the early gains showed some signs of losing steam after U.S. Federal Reserve officials reminded investors that the central bank's priority was to control domestic inflation, with St. Louis Fed President James Bullard making the case for more rate hikes to come in future meetings.
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Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 0.4% and 3.2%. By Shreyashi Sanyal and Ankika Biswas Sept 27 (Reuters) - Wall Street's main indexes rose for the first time in six sessions on Tuesday, with megacap growth stocks doing most of the heavy lifting following a bruising selloff on worries of a rate-hike induced economic slowdown. The S&P index recorded no new 52-week high and 15 new lows, while the Nasdaq recorded 21 new highs and 93 new lows.
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Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 0.4% and 3.2%. By Shreyashi Sanyal and Ankika Biswas Sept 27 (Reuters) - Wall Street's main indexes rose for the first time in six sessions on Tuesday, with megacap growth stocks doing most of the heavy lifting following a bruising selloff on worries of a rate-hike induced economic slowdown. However, the early gains showed some signs of losing steam after U.S. Federal Reserve officials reminded investors that the central bank's priority was to control domestic inflation, with St. Louis Fed President James Bullard making the case for more rate hikes to come in future meetings.
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Rate-sensitive shares including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 0.4% and 3.2%. By Shreyashi Sanyal and Ankika Biswas Sept 27 (Reuters) - Wall Street's main indexes rose for the first time in six sessions on Tuesday, with megacap growth stocks doing most of the heavy lifting following a bruising selloff on worries of a rate-hike induced economic slowdown. "But that bottom may be more of a bear market rally similar to the one experienced earlier this summer."
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19180.0
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2022-09-27 00:00:00 UTC
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AOTG Offers a Growth Strategy with a Different Twist
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AAPL
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https://www.nasdaq.com/articles/aotg-offers-a-growth-strategy-with-a-different-twist
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nan
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nan
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Download the Article
AOT Growth and Innovation ETF (AOTG) is a high-growth portfolio that focuses on valuation metrics and a unique marginal cost target for companies that the fund invests in. John Tinsman, AOT Invest’s Founder and Portfolio Manager, explains what sets AOTG apart from other large-cap growth funds.
Tinsman discovered his passion for the securities market while studying economics at Northwestern University and working simultaneously for a family office. Upon graduating, he landed a job as a market maker at a proprietary trading firm. Later, he applied his knowledge to create growth strategies and invest in mutual funds on behalf of his family business, Twin State Inc., a wholesale fertilizer supplier based in Iowa.
Tinsman did not want to just match the performance of an index; he wanted to achieve above-average growth. Yet, he observed that some of the top holdings in funds in the growth category were growing under 7% a year. He also noticed many other companies included in growth portfolios had short operating histories, low revenues and high valuations, so in his view, there is a significant risk that their profits are not going to materialize over the long haul.
“I thought that I could make a better high-growth portfolio than was out there today and that eventually led to starting AOTG,” he says. “You have great high growth opportunities out there in profitable companies with longer operational history, which can help mitigate downside risk.”
The fund’s strategy is to buy low marginal cost companies that are well positioned in growing industries. It costs these companies little or no money to produce one additional unit, so they can scale the business profitably and quickly with less capital expenditure. As Tinsman explains, a software company can sell an additional product license at a low or no cost. In contrast, for an aircraft manufacturer to ramp up production, it must invest in plant, equipment and staff. This difference helps low marginal cost companies grow without debt, allowing them to allocate more future resources to product innovation instead of servicing debt – and that is a benefit for investors.
“Low marginal cost companies over time have been able to achieve some of the best profitability ever seen,” says Tinsman.
Some of the most profitable companies in the history of the world are Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), Meta Platforms (META) and Amazon (AMZN). It’s not a coincidence because they can sell incremental units of their product at almost a 100% profit rate.
Innovation drives not only economic growth but also the appreciation of a company’s value and its share price. To this end, AOTG seeks to invest in highly innovative companies that reinvest profits back into improving their products and expanding their offerings. The fund’s key focus is on long-term growth, but Tinsman only wants to include companies that provide value to clients, employees, shareholders and others and do not act against stakeholders’ best interests.
Technology is the largest sector in the portfolio, followed by communication services, consumer cyclicals/discretionary, financial services and healthcare. Most of the companies in the portfolio are based in the U.S., but some are based in Latin America, Asia, Europe and Canada and are listed on U.S. exchanges. The fund does not invest in ADRs or REITs.
At first glance, AOTG’s top holdings are the same large-cap companies one often sees in growth portfolios, including Alphabet, Microsoft and Amazon. But the fund’s top holdings also include Qualcomm (QCOM) and Advanced Micro Devices (AMD) – companies that have been growing at 35% to 80% a year. They are already earning billions to tens of billions of dollars a year, and they have relatively low valuations considering their profitability and growth rate. Working down the list, there are some unique mid- and small-cap names as well that differentiate AOTG from other growth funds. Among them are Sterling Check (STER), Toast (TOST), LendingClub (LC) and DLocal (DLO).
Sterling Check leverages software to perform background checks and screening for employment. According to Tinsman, this software company is undervalued because it has been growing at 30% a year and net increasing its net income at an even faster rate. It has revenue of roughly $800 million a year and a market cap of $2 billion, putting the price-to-sales ratio around 2.5.
“That’s pretty rare for a software company, especially one that’s profitable and growing quickly,” he points out. “If you were to compare that to other software companies, you wouldn’t really see such a great valuation metric and growing profitability.”
Toast offers a restaurant point-of-sale and management system, which encompasses payment processing, hardware and software. Essentially, it is a one-stop shop for restaurant owners. The company has been growing revenue at 58% year over year, and it has a relatively low valuation. As the company has grown, its profit margins have been moving in the right direction, and it is narrowing its losses. Toast is losing $0.11 a share, and its profit margins are coming close to breakeven.
LendingClub is a peer-to-peer lending platform with a bank charter. The company is highly profitable, and it is growing revenue quickly. DLocal offers payment processing for businesses across Latin America and Africa. The company has a net profit margin of 30% and revenue growth of 71%. Other names in the portfolio include Remitly Global (RELY), Magnite (MGNI), Silvergate Capital (SI), MercadoLibre (MELI), Paylocity (PCTY) and Tyler Technologies (TYL).
“These companies have such a great value proposition to their employees, shareholders and users that I believe their value and quickly evolving products and services will continue to propel their growth into the future,” says Tinsman.
Growth companies’ valuations have fallen significantly, and in many cases, their share prices have fallen by 20% to 60% year to date. Ironically, many of these companies have been growing their revenue and achieving record profitability, and yet their stocks have been punished as their entire sector has fallen. Tinsman sees a good opportunity to identify those companies with a good long-term story based on their ability to innovate and achieve low marginal cost in growing industries and include those companies in the fund.
Investors can learn more about AOTG and view the fund holdings at AOTETF.com.
Investors should consider the investment objectives, risk, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the AOTG ETF, please call (215) 882-9983 or visit the website at aotetf.com. Read the prospectus or summary prospectus carefully before investing. Investments involve risk. Principal loss is possible.
ETFs may trade at a premium or discount to their net asset value. Redemptions are limited, and often, brokerage commissions are charged on each trade which may reduce returns.
The Fund will invest in growth-oriented common stock, which may involve greater price swings and be particularly sensitive to market conditions. Investments made in small to mid-capitalization companies are subject to greater risks than large company stocks due to limited resources and inventory, as well as more sensitivity to adverse conditions. The Fund may also invest in other investment companies. Shareholders of the Fund bear their proportionate share of the other investment company fees and expenses in addition to the Fund’s own expenses.
Stock selection is based on fundamental research and analysis, which will have an impact on the fund’s performance. Fund holdings may include exposure to the technology sector, which can be vulnerable to the potential obsolescence of products and services due to technological advances and global competition. The Fund’s concentration in the securities of a particular issuer, country, industry, sector or asset class may cause it to be more susceptible to greater fluctuations in share price and volatility due to adverse events that affect the Fund’s investments.
This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. We make no representation or warranty as to the accuracy or completeness of the information contained herein, including third-party data sources. The views expressed are as of the publication date and subject to change at any time. No part of this material may be reproduced in any form or referred to in any other publication without express written permission. References to other funds should not be interpreted as an offer or recommendation of these securities.
The Fund is distributed by Quasar Distributors, LLC. The fund’s investment advisor is Empowered Funds, LLC, which is doing business as EA Advisers.
The products are not issued, endorsed, sold, or promoted by Nasdaq. Nasdaq makes no warranties as to the legality or suitability of, and bears no liability. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some of the most profitable companies in the history of the world are Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), Meta Platforms (META) and Amazon (AMZN). Download the Article AOT Growth and Innovation ETF (AOTG) is a high-growth portfolio that focuses on valuation metrics and a unique marginal cost target for companies that the fund invests in. Later, he applied his knowledge to create growth strategies and invest in mutual funds on behalf of his family business, Twin State Inc., a wholesale fertilizer supplier based in Iowa.
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Some of the most profitable companies in the history of the world are Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), Meta Platforms (META) and Amazon (AMZN). Download the Article AOT Growth and Innovation ETF (AOTG) is a high-growth portfolio that focuses on valuation metrics and a unique marginal cost target for companies that the fund invests in. He also noticed many other companies included in growth portfolios had short operating histories, low revenues and high valuations, so in his view, there is a significant risk that their profits are not going to materialize over the long haul.
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Some of the most profitable companies in the history of the world are Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), Meta Platforms (META) and Amazon (AMZN). Download the Article AOT Growth and Innovation ETF (AOTG) is a high-growth portfolio that focuses on valuation metrics and a unique marginal cost target for companies that the fund invests in. “You have great high growth opportunities out there in profitable companies with longer operational history, which can help mitigate downside risk.” The fund’s strategy is to buy low marginal cost companies that are well positioned in growing industries.
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Some of the most profitable companies in the history of the world are Microsoft (MSFT), Apple (AAPL), Alphabet (GOOGL), Meta Platforms (META) and Amazon (AMZN). Download the Article AOT Growth and Innovation ETF (AOTG) is a high-growth portfolio that focuses on valuation metrics and a unique marginal cost target for companies that the fund invests in. “Low marginal cost companies over time have been able to achieve some of the best profitability ever seen,” says Tinsman.
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19181.0
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2022-09-27 00:00:00 UTC
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US STOCKS-Futures bounce off Wall Street's 2022 lows
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-bounce-off-wall-streets-2022-lows
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Futures up: Dow 0.89%, S&P 1.12%, Nasdaq 1.28%
Sept 27 (Reuters) - U.S. stock index futures rebounded on Tuesday, following a bruising sell-off over the last few sessions on rate-hike induced recession fears that confirmed the Dow .DJI has been in a bear market for most of this year.
At 4:56 a.m. ET, Dow e-minis 1YMcv1 were up 261 points, or 0.89%, S&P 500 e-minis EScv1 were up 41 points, or 1.12%, and Nasdaq 100 e-minis NQcv1 were up 145 points, or 1.28%.
Concerns about corporate profit coming under pressure from soaring prices, an economic downturn and higher interest rates have roiled Wall Street in the past two weeks, pushing the S&P 500 to new closing lows for the year on Monday.
U.S. Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping U.S. stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation.
Rate-sensitive growth names, including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 1.7% in premarket trading as U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. US/
Oil stocks rose on the back of a sharp recovery in crude prices, with Exxon XOM.N and Chevron CVX.N up nearly 2% each.
Later in the day, investors will be watching for August durable goods orders as well as consumer confidence for the month.
(Reporting by Susan Mathew in Bengaluru; Editing by Anil D'Silva)
((susan.mathew@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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Rate-sensitive growth names, including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 1.7% in premarket trading as U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. Concerns about corporate profit coming under pressure from soaring prices, an economic downturn and higher interest rates have roiled Wall Street in the past two weeks, pushing the S&P 500 to new closing lows for the year on Monday. U.S. Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping U.S. stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation.
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Rate-sensitive growth names, including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 1.7% in premarket trading as U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Futures up: Dow 0.89%, S&P 1.12%, Nasdaq 1.28% Sept 27 (Reuters) - U.S. stock index futures rebounded on Tuesday, following a bruising sell-off over the last few sessions on rate-hike induced recession fears that confirmed the Dow .DJI has been in a bear market for most of this year.
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Rate-sensitive growth names, including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 1.7% in premarket trading as U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. Futures up: Dow 0.89%, S&P 1.12%, Nasdaq 1.28% Sept 27 (Reuters) - U.S. stock index futures rebounded on Tuesday, following a bruising sell-off over the last few sessions on rate-hike induced recession fears that confirmed the Dow .DJI has been in a bear market for most of this year. ET, Dow e-minis 1YMcv1 were up 261 points, or 0.89%, S&P 500 e-minis EScv1 were up 41 points, or 1.12%, and Nasdaq 100 e-minis NQcv1 were up 145 points, or 1.28%.
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Rate-sensitive growth names, including Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 1.7% in premarket trading as U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Futures up: Dow 0.89%, S&P 1.12%, Nasdaq 1.28% Sept 27 (Reuters) - U.S. stock index futures rebounded on Tuesday, following a bruising sell-off over the last few sessions on rate-hike induced recession fears that confirmed the Dow .DJI has been in a bear market for most of this year.
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19182.0
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2022-09-27 00:00:00 UTC
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Why Does the Street Consider Apple Stock (NASDAQ:AAPL) to be a “Strong Buy”?
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AAPL
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https://www.nasdaq.com/articles/why-does-the-street-consider-apple-stock-nasdaq%3Aaapl-to-be-a-strong-buy
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nan
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nan
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Investors are bracing for more trouble as the aggressive rate hikes by the Federal Reserve to tame inflation are expected to push the U.S. economy into recession. The S&P 500 (SPX) and NASDAQ 100 (NDX) have declined 23.3% and over 31% year-to-date, respectively. While many tech stocks have been clobbered this year, Apple's (NASDAQ:AAPL) stock has shown some amount of resilience and is down 15% year-to-date. Most Wall Street analysts remain bullish about the tech giant based on its strong track record, continued innovation, and progress into new growth areas like fintech.
Apple is Well-Positioned for Long-Term Growth
Apple’s Q3 Fiscal 2022 (ended June 30, 2022) revenue increased 1.9% to nearly $83 billion, but earnings per share fell 8% to $1.20. That said, the company managed to top analysts’ expectations for both key metrics.
While Apple cautioned investors about near-term pressures, including currency headwinds and supply chain woes, it expects revenue growth to accelerate in the September quarter compared to the June quarter.
Meanwhile, Apple is diversifying its manufacturing footprint amid production disruptions in China. Apple recently announced that it would be manufacturing the iPhone 14 in India. The company has been manufacturing old models of iPhones in India but this time it is going ahead with the production of a newly launched device. The move is expected to boost Apple’s prospects in a lucrative market like India.
Additionally, Apple continues to deepen customer engagement with its services business, which includes sales from Applecare, advertising, cloud, payment, and other services. Note that the company’s services business is more profitable than its products segment. The company has been advancing in the attractive financial services market through solutions like Apple Pay and Apple Wallet.
Back in June, Apple announced that it will launch a buy now, pay later service called Apple Pay Later. The facility will allow customers to split their purchase into four equal payments that can be spread over six weeks. Earlier this year, Apple rolled out its Tap to Pay on iPhone feature that enables contactless payments.
Is Apple a Buy or Sell Now?
In a recent research note to investors, Wedbush Securities analyst Daniel Ives noted that the iPhone 14 is likely witnessing “brisk sales” as wait times are getting longer. The analyst stated, "Wait times on many iPhone Pro 14 models are now 4-6 weeks for Apple customers and lengthening into November." Ives stated that the overall demand for Pro is 8% to 10% ahead of his expectations.
The analyst also sees strong sales in China, mainly via e-commerce channels. He expects China's business to be a vital factor in Apple’s growth story and estimates that nearly 30% of iPhone customers in China “are in the window of an upgrade opportunity.”
Despite macro pressures, Ives believes that Apple’s growth story “remains a bright spot in the tech landscape with darker clouds abound in many pockets of consumer tech.” Ives reiterated a Buy rating on AAPL stock with a price target of $220.
All in all, Apple scores the Street’s Strong Buy consensus rating based on 23 Buys, four Holds, and one Sell rating. The average Apple price target of $183.45 suggests nearly 22% upside potential from current levels.
Conclusion
Despite macro pressures, Apple seems to be an attractive pick for the long haul based on strengths like continued innovation, solid growth potential for the services business, and strong execution.
Apple scores a “Perfect 10” on TipRanks’ Smart Score System, indicating that the stock is likely to outperform the broader market.
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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He expects China's business to be a vital factor in Apple’s growth story and estimates that nearly 30% of iPhone customers in China “are in the window of an upgrade opportunity.” Despite macro pressures, Ives believes that Apple’s growth story “remains a bright spot in the tech landscape with darker clouds abound in many pockets of consumer tech.” Ives reiterated a Buy rating on AAPL stock with a price target of $220. While many tech stocks have been clobbered this year, Apple's (NASDAQ:AAPL) stock has shown some amount of resilience and is down 15% year-to-date. Most Wall Street analysts remain bullish about the tech giant based on its strong track record, continued innovation, and progress into new growth areas like fintech.
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While many tech stocks have been clobbered this year, Apple's (NASDAQ:AAPL) stock has shown some amount of resilience and is down 15% year-to-date. He expects China's business to be a vital factor in Apple’s growth story and estimates that nearly 30% of iPhone customers in China “are in the window of an upgrade opportunity.” Despite macro pressures, Ives believes that Apple’s growth story “remains a bright spot in the tech landscape with darker clouds abound in many pockets of consumer tech.” Ives reiterated a Buy rating on AAPL stock with a price target of $220. Back in June, Apple announced that it will launch a buy now, pay later service called Apple Pay Later.
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He expects China's business to be a vital factor in Apple’s growth story and estimates that nearly 30% of iPhone customers in China “are in the window of an upgrade opportunity.” Despite macro pressures, Ives believes that Apple’s growth story “remains a bright spot in the tech landscape with darker clouds abound in many pockets of consumer tech.” Ives reiterated a Buy rating on AAPL stock with a price target of $220. While many tech stocks have been clobbered this year, Apple's (NASDAQ:AAPL) stock has shown some amount of resilience and is down 15% year-to-date. The company has been advancing in the attractive financial services market through solutions like Apple Pay and Apple Wallet.
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While many tech stocks have been clobbered this year, Apple's (NASDAQ:AAPL) stock has shown some amount of resilience and is down 15% year-to-date. He expects China's business to be a vital factor in Apple’s growth story and estimates that nearly 30% of iPhone customers in China “are in the window of an upgrade opportunity.” Despite macro pressures, Ives believes that Apple’s growth story “remains a bright spot in the tech landscape with darker clouds abound in many pockets of consumer tech.” Ives reiterated a Buy rating on AAPL stock with a price target of $220. Apple recently announced that it would be manufacturing the iPhone 14 in India.
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19183.0
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2022-09-27 00:00:00 UTC
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Silicon Valley’s post-Covid brain drain: podcast
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AAPL
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https://www.nasdaq.com/articles/silicon-valleys-post-covid-brain-drain%3A-podcast
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nan
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nan
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Reuters
Reuters
LONDON (Reuters Breakingviews) - Before the pandemic, 75% of venture capital was invested in California, New York and Massachusetts. In this Exchange podcast, AOL co-founder Steve Case explains that a hybrid working revolution is reversing that trend and encouraging permanent investment away from the coasts.
Listen to the podcast
Follow @aimeedonnellan on Twitter
(Editing by Thomas Shum and Oliver Taslic)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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LONDON (Reuters Breakingviews) - Before the pandemic, 75% of venture capital was invested in California, New York and Massachusetts. In this Exchange podcast, AOL co-founder Steve Case explains that a hybrid working revolution is reversing that trend and encouraging permanent investment away from the coasts. Listen to the podcast Follow @aimeedonnellan on Twitter (Editing by Thomas Shum and Oliver Taslic) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Reuters Reuters LONDON (Reuters Breakingviews) - Before the pandemic, 75% of venture capital was invested in California, New York and Massachusetts. Listen to the podcast Follow @aimeedonnellan on Twitter (Editing by Thomas Shum and Oliver Taslic) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Reuters Reuters In this Exchange podcast, AOL co-founder Steve Case explains that a hybrid working revolution is reversing that trend and encouraging permanent investment away from the coasts. Listen to the podcast Follow @aimeedonnellan on Twitter (Editing by Thomas Shum and Oliver Taslic) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Reuters Reuters LONDON (Reuters Breakingviews) - Before the pandemic, 75% of venture capital was invested in California, New York and Massachusetts. In this Exchange podcast, AOL co-founder Steve Case explains that a hybrid working revolution is reversing that trend and encouraging permanent investment away from the coasts.
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19184.0
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2022-09-27 00:00:00 UTC
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Big Tech Investing Strategy in This Market
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AAPL
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https://www.nasdaq.com/articles/big-tech-investing-strategy-in-this-market
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nan
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nan
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Y
esterday, the Dow closed at its lowest level since 2020, with the Nasdaq and the S&P 500 also closing close to their lows from June. Whether you agree or disagree with what I said yesterday, that stocks may catch a bid and form a bounce of sorts this week, those levels will be catching the eye of investors who have been sitting on some cash. Even if you believe that we can still move lower, the previous low is a natural point at which to deploy some money. If you are a big tech investor and that is what you intend to do, where should that money go?
There are two basic approaches to buying on dips. The first is to look at the hardest-hit stocks on the basis that the further they have fallen, the further they will bounce back. The second is the opposite, where you favor things that have outperformed on the way down. The argument here is that they have done so because those companies have done relatively well in tough conditions and will only get stronger as things improve. There is a risk/reward element in this too. If everything bounces, the hard-hit stocks will presumably bounce further, but if your timing is off and we still keep going lower, they will probably continue to drop faster than the safer, less adventurous picks.
For some reason, not just in investing but in other things too, there is a tendency these days to see everything in that bifurcated way, as a stark choice between one thing or another and, as a result, the middle ground is often forgotten. When it comes to investing, however, which is largely about balancing risk and reward, combining two approaches is usually a better idea than going all in on one strategy. The goal is to smooth out the short-term volatility and achieve long-term gains that are better than average, and that is best achieved by not putting all your eggs in one basket.
In the world of big tech, the safe play on an outperformer is obvious, but that doesn’t mean that it doesn’t have value.
Apple (AAPL) is down only 17% from its high in January and had challenged that high both times stocks in general have rallied on the way down. I have talked before about why that is so, but they are points that are worth repeating, because they matter in this context.
Apple is not really a tech stock anymore. In fact, one could even argue that, despite producing high-end, “luxury” products, they are more of a consumer staples business than anything at this point. Apple customers are so loyal and so entwined in the company’s ecosystem that the question is not which brand of phone, tablet, or laptop they will buy, but which model. That means that while sales do ebb and flow to some extent with economic conditions, periods of weakness create pent up demand, and are usually followed by periods of strength.
My pick on the riskier side of things is Alphabet (GOOG, GOOGL). Like Apple, Alphabet has a dominant market share and incredible brand loyalty when it comes to their core product, Google’s search engine. The difference, though, is that they rely largely on ad revenue, and advertising spending is not deferred in tough times -- it is simply canceled. If global economies continue to grind down or don’t bounce back quickly, Alphabet's stock will continue to reflect that pain.
That makes GOOG riskier than AAPL, but as the stock is around 35% below its high, it clearly has more potential for long-term gains. Based on the fact that GOOG is trading at just over sixteen times forward earnings, though, roughly half what it was a year ago and 25% below the average for the Nasdaq, it could even be that if economic conditions just stabilize and the market starts to look forward to improvement, GOOG will bounce back. That may create some support if the market overall moves lower, and just a return to the index average forward P/E would result in a 25% jump.
If you are convinced that we are falling headlong into a deep recession, then of course, you will hold onto your cash, and even sell more assets if we do see a bounce this week. However, if you believe that the Fed will stop short of doing that kind of damage and can create a soft landing, then starting to dollar cost average back into big tech around the previous lows makes sense. If that is your view, then buying both an outperformer and a hard-hit stock is the best strategy and, in the world of big tech, AAPL and GOOG are stocks to consider as ways to do that.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) is down only 17% from its high in January and had challenged that high both times stocks in general have rallied on the way down. That makes GOOG riskier than AAPL, but as the stock is around 35% below its high, it clearly has more potential for long-term gains. If that is your view, then buying both an outperformer and a hard-hit stock is the best strategy and, in the world of big tech, AAPL and GOOG are stocks to consider as ways to do that.
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If that is your view, then buying both an outperformer and a hard-hit stock is the best strategy and, in the world of big tech, AAPL and GOOG are stocks to consider as ways to do that. Apple (AAPL) is down only 17% from its high in January and had challenged that high both times stocks in general have rallied on the way down. That makes GOOG riskier than AAPL, but as the stock is around 35% below its high, it clearly has more potential for long-term gains.
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If that is your view, then buying both an outperformer and a hard-hit stock is the best strategy and, in the world of big tech, AAPL and GOOG are stocks to consider as ways to do that. Apple (AAPL) is down only 17% from its high in January and had challenged that high both times stocks in general have rallied on the way down. That makes GOOG riskier than AAPL, but as the stock is around 35% below its high, it clearly has more potential for long-term gains.
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If that is your view, then buying both an outperformer and a hard-hit stock is the best strategy and, in the world of big tech, AAPL and GOOG are stocks to consider as ways to do that. Apple (AAPL) is down only 17% from its high in January and had challenged that high both times stocks in general have rallied on the way down. That makes GOOG riskier than AAPL, but as the stock is around 35% below its high, it clearly has more potential for long-term gains.
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19185.0
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2022-09-27 00:00:00 UTC
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Japan's Nikkei hits lowest in nearly 3 months on global recession fears
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AAPL
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https://www.nasdaq.com/articles/japans-nikkei-hits-lowest-in-nearly-3-months-on-global-recession-fears
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nan
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nan
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By Kevin Buckland
TOKYO, Sept 28 (Reuters) - Japan's Nikkei fell on Wednesday to its lowest in nearly three months, as recession fears grew after Wall Street stocks sank deeper into a bear market and following a report that Apple dropped plans for more iPhones.
The Nikkei share average .N225 declined 2.21% to 25,984.51 by the midday break, falling below the psychological 26,000 level for the first time since July 4.
The index slipped steadily after opening about half a percent lower. Selling accelerated mid-morning, around the time Bloomberg reported Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise.
Of the benchmark's 225 constituents, 220 stocks fell, three rose and two traded flat.
Every sector declined, including energy, which had been sharply higher for much of the morning after crude oil rebounded from multi-month lows overnight. Its 1.08% fall was the most moderate, while real estate was the worst performer with a 3.15% drop.
The broader Topix .TOPX slid 1.72% to 1,840.78.
The big decline comes as Japan heads into the final days of its fiscal first half.
"Apple's decision to postpone an increase in production certainly is having an effect, but another big factor is that traders are speculating about supply and demand into the end of the first half. So, I want to see what happens following this round of selling," said Masayuki Otani, chief market analyst at Securities Japan Inc.
Investors globally are on edge as surging borrowing costs stoke fears of widespread recession, with most of the world's major central banks putting their focus squarely on tightening policies to contain super-heated inflation.
Drugmaker Eisai 4523.T would have lent some support to Japanese stock indexes, but its shares had yet to trade amid a glut of buy orders after the success of a trial of experimental Alzheimer's treatment lecanemab.
The biggest drag on the Nikkei by index weighting was Uniqlo store operator Fast Retailing 9983.T, down 4.44%, followed by startup investor SoftBank Group 9984.T, off 2.76%, robotics giant Fanuc 6954.T, which was 3.71% lower, and chip-making equipment-maker Tokyo Electron 8035.T, which lost 2.24%.
The biggest percentage decliner was Nippon Sheet Glass 5202.T, with a 7.25% tumble.
(Reporting by Kevin Buckland; Additional reporting by Tokyo markets team; Editing by 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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Selling accelerated mid-morning, around the time Bloomberg reported Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise. By Kevin Buckland TOKYO, Sept 28 (Reuters) - Japan's Nikkei fell on Wednesday to its lowest in nearly three months, as recession fears grew after Wall Street stocks sank deeper into a bear market and following a report that Apple dropped plans for more iPhones. So, I want to see what happens following this round of selling," said Masayuki Otani, chief market analyst at Securities Japan Inc. Investors globally are on edge as surging borrowing costs stoke fears of widespread recession, with most of the world's major central banks putting their focus squarely on tightening policies to contain super-heated inflation.
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Selling accelerated mid-morning, around the time Bloomberg reported Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise. By Kevin Buckland TOKYO, Sept 28 (Reuters) - Japan's Nikkei fell on Wednesday to its lowest in nearly three months, as recession fears grew after Wall Street stocks sank deeper into a bear market and following a report that Apple dropped plans for more iPhones. (Reporting by Kevin Buckland; Additional reporting by Tokyo markets team; Editing by 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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Selling accelerated mid-morning, around the time Bloomberg reported Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise. By Kevin Buckland TOKYO, Sept 28 (Reuters) - Japan's Nikkei fell on Wednesday to its lowest in nearly three months, as recession fears grew after Wall Street stocks sank deeper into a bear market and following a report that Apple dropped plans for more iPhones. So, I want to see what happens following this round of selling," said Masayuki Otani, chief market analyst at Securities Japan Inc. Investors globally are on edge as surging borrowing costs stoke fears of widespread recession, with most of the world's major central banks putting their focus squarely on tightening policies to contain super-heated inflation.
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Selling accelerated mid-morning, around the time Bloomberg reported Apple AAPL.O would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise. By Kevin Buckland TOKYO, Sept 28 (Reuters) - Japan's Nikkei fell on Wednesday to its lowest in nearly three months, as recession fears grew after Wall Street stocks sank deeper into a bear market and following a report that Apple dropped plans for more iPhones. Of the benchmark's 225 constituents, 220 stocks fell, three rose and two traded flat.
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19186.0
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2022-09-27 00:00:00 UTC
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Is WisdomTree U.S. LargeCap Dividend ETF (DLN) a Strong ETF Right Now?
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AAPL
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https://www.nasdaq.com/articles/is-wisdomtree-u.s.-largecap-dividend-etf-dln-a-strong-etf-right-now-5
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nan
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nan
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The WisdomTree U.S. LargeCap Dividend ETF (DLN) made its debut on 06/16/2006, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Large Cap Value 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 offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
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.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
The fund is managed by Wisdomtree, and has been able to amass over $3.29 billion, which makes it one of the average sized ETFs in the Style Box - Large Cap Value. This particular fund, before fees and expenses, seeks to match the performance of the WisdomTree U.S. LargeCap Dividend Index.
The WisdomTree U.S. LargeCap Dividend Index is a fundamentally weighted index that measures the performance of the large-capitalization segment of the U.S. dividend-paying market.
Cost & Other Expenses
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 cousins, other things remaining the same.
Operating expenses on an annual basis are 0.28% for this ETF, which makes it on par with most peer products in the space.
It's 12-month trailing dividend yield comes in at 2.72%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
DLN's heaviest allocation is in the Healthcare sector, which is about 17.40% of the portfolio. Its Consumer Staples and Information Technology round out the top three.
Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 4.22% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL).
The top 10 holdings account for about 26.94% of total assets under management.
Performance and Risk
Year-to-date, the WisdomTree U.S. LargeCap Dividend ETF has lost about -13.42% so far, and is down about -5.38% over the last 12 months (as of 09/27/2022). DLN has traded between $56.25 and $66.91 in this past 52-week period.
The fund has a beta of 0.88 and standard deviation of 23.06% for the trailing three-year period, which makes DLN a medium risk choice in this particular space. With about 299 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree U.S. LargeCap Dividend ETF is an excellent option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. There are other ETFs in the space which investors could consider as well.
IShares Russell 1000 Value ETF (IWD) tracks Russell 1000 Value Index and the Vanguard Value ETF (VTV) tracks CRSP U.S. Large Cap Value Index. IShares Russell 1000 Value ETF has $47.62 billion in assets, Vanguard Value ETF has $90.57 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
WisdomTree U.S. LargeCap Dividend ETF (DLN): ETF Research Reports
Apple Inc. (AAPL): Free Stock Analysis Report
Microsoft Corporation (MSFT): Free Stock Analysis Report
Exxon Mobil Corporation (XOM): Free Stock Analysis Report
Vanguard Value ETF (VTV): ETF Research Reports
iShares Russell 1000 Value ETF (IWD): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 4.22% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL). Apple Inc. (AAPL): Free Stock Analysis Report The WisdomTree U.S. LargeCap Dividend ETF (DLN) made its debut on 06/16/2006, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Large Cap Value category of the market.
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Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 4.22% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL). Apple Inc. (AAPL): Free Stock Analysis Report Alternatives WisdomTree U.S. LargeCap Dividend ETF is an excellent option for investors seeking to outperform the Style Box - Large Cap Value segment of the market.
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Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 4.22% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL). Apple Inc. (AAPL): Free Stock Analysis Report IShares Russell 1000 Value ETF (IWD) tracks Russell 1000 Value Index and the Vanguard Value ETF (VTV) tracks CRSP U.S. Large Cap Value Index.
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Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 4.22% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL). Apple Inc. (AAPL): Free Stock Analysis Report The WisdomTree U.S. LargeCap Dividend ETF (DLN) made its debut on 06/16/2006, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Large Cap Value category of the market.
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19187.0
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2022-09-27 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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AAPL
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https://www.nasdaq.com/articles/should-invesco-ftse-rafi-us-1000-etf-prf-be-on-your-investing-radar-3
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nan
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nan
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The Invesco FTSE RAFI US 1000 ETF (PRF) was launched on 12/19/2005, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Value segment of the US equity market.
The fund is sponsored by Invesco. It has amassed assets over $5.31 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. 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 are known for their lower than average price-to-earnings and price-to-book ratios, but investors should also note their lower than average sales and earnings growth rates. Considering long-term performance, value stocks have outperformed growth stocks in almost all markets; however, they are more likely to underperform growth stocks in strong bull markets.
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 0.39%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 2.22%.
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 18.80% 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 -17.29% so far this year and is down about -10.98% in the last one year (as of 09/27/2022). In the past 52-week period, it has traded between $140.67 and $175.48.
The ETF has a beta of 0.99 and standard deviation of 24.93% 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 carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, PRF is a good option for those seeking exposure to the Style Box - Large Cap Value area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell 1000 Value ETF (IWD) and the Vanguard Value ETF (VTV) track a similar index. While iShares Russell 1000 Value ETF has $47.62 billion in assets, Vanguard Value ETF has $90.57 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.
Bottom-Line
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Invesco 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). Apple Inc. (AAPL): Free Stock Analysis Report The Invesco FTSE RAFI US 1000 ETF (PRF) was launched on 12/19/2005, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Value segment of the US equity market.
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Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 2.37% of total assets, followed by Berkshire Hathaway Inc (BRK/B) and Apple Inc (AAPL). Apple Inc. (AAPL): Free Stock Analysis Report The Invesco FTSE RAFI US 1000 ETF (PRF) was launched on 12/19/2005, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Value segment of the US equity market.
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Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 2.37% of total assets, followed by Berkshire Hathaway Inc (BRK/B) and Apple Inc (AAPL). Apple Inc. (AAPL): Free Stock Analysis Report Alternatives Invesco FTSE RAFI US 1000 ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors.
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Apple Inc. (AAPL): Free Stock Analysis Report 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 Invesco FTSE RAFI US 1000 ETF (PRF) was launched on 12/19/2005, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Value segment of the US equity market.
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19188.0
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2022-09-27 00:00:00 UTC
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Dow Movers: MCD, HD
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AAPL
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https://www.nasdaq.com/articles/dow-movers%3A-mcd-hd
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nan
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nan
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In early trading on Tuesday, shares of Home Depot topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.5%. Year to date, Home Depot has lost about 34.2% of its value.
And the worst performing Dow component thus far on the day is McDonald's, trading up 0.4%. McDonald's is lower by about 8.7% looking at the year to date performance.
Two other components making moves today are Chevron, trading up 0.4%, and Apple, trading up 2.4% on the day.
VIDEO: Dow Movers: MCD, HD
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Tuesday, shares of Home Depot topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.5%. And the worst performing Dow component thus far on the day is McDonald's, trading up 0.4%. VIDEO: Dow Movers: MCD, HD The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Tuesday, shares of Home Depot topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.5%. Year to date, Home Depot has lost about 34.2% of its value. And the worst performing Dow component thus far on the day is McDonald's, trading up 0.4%.
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In early trading on Tuesday, shares of Home Depot topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.5%. And the worst performing Dow component thus far on the day is McDonald's, trading up 0.4%. Two other components making moves today are Chevron, trading up 0.4%, and Apple, trading up 2.4% on the day.
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In early trading on Tuesday, shares of Home Depot topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.5%. And the worst performing Dow component thus far on the day is McDonald's, trading up 0.4%. VIDEO: Dow Movers: MCD, HD The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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19189.0
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2022-09-27 00:00:00 UTC
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US STOCKS-Futures bounce after brutal Wall Street selloff
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AAPL
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https://www.nasdaq.com/articles/us-stocks-futures-bounce-after-brutal-wall-street-selloff
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By Susan Mathew and Ankika Biswas
Sept 27 (Reuters) - U.S. stock index futures jumped about 1% on Tuesday, following a bruising selloff over the last few sessions on rate-hike induced recession fears that confirmed the Dow .DJI has been in a bear market for most of this year.
If gains hold till the open, the three major stock indexes will snap a five-day losing streak, with rate-sensitive growth shares leading the advance in premarket trading.
Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 2.1% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. US/
Oil stocks got a shot in the arm after a sharp recovery in crude prices, with Exxon XOM.N and Chevron CVX.N up 1.4% each.
At 6:59 a.m. ET, Dow e-minis 1YMcv1 were up 273 points, or 0.93%, S&P 500 e-minis EScv1 were up 42.25 points, or 1.15%, and Nasdaq 100 e-minis NQcv1 were up 152.5 points, or 1.35%.
Concerns about corporate profits coming under pressure from soaring prices, an economic downturn and higher interest rates have roiled Wall Street in the past two weeks, pushing the S&P 500 to new closing lows for the year on Monday.
Analysts have cut their S&P 500 earnings estimates for the third and fourth quarters, and for all of 2022. For the third quarter, overall S&P 500 earnings are seen rising just 4.6% year-over-year, compared with the 11.1% growth expected at the start of July.
U.S. Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping U.S. stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation.
Chicago Fed President Charles Evans said the central bank will need to raise interest rates by at least another percentage point this year, highlighting the Fed's combative stance to quash too-high inflation.
Analysts at Wells Fargo now see the U.S. central bank taking its target range for the Fed funds rate to 4.75%-5.00% by the first quarter of 2023.
Later in the day, investors will be watching for August durable goods orders, as well as consumer confidence data for the month.
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta)
((susan.mathew@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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Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 2.1% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. By Susan Mathew and Ankika Biswas Sept 27 (Reuters) - U.S. stock index futures jumped about 1% on Tuesday, following a bruising selloff over the last few sessions on rate-hike induced recession fears that confirmed the Dow .DJI has been in a bear market for most of this year. Concerns about corporate profits coming under pressure from soaring prices, an economic downturn and higher interest rates have roiled Wall Street in the past two weeks, pushing the S&P 500 to new closing lows for the year on Monday.
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Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 2.1% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. By Susan Mathew and Ankika Biswas Sept 27 (Reuters) - U.S. stock index futures jumped about 1% on Tuesday, following a bruising selloff over the last few sessions on rate-hike induced recession fears that confirmed the Dow .DJI has been in a bear market for most of this year. ET, Dow e-minis 1YMcv1 were up 273 points, or 0.93%, S&P 500 e-minis EScv1 were up 42.25 points, or 1.15%, and Nasdaq 100 e-minis NQcv1 were up 152.5 points, or 1.35%.
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Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 2.1% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. By Susan Mathew and Ankika Biswas Sept 27 (Reuters) - U.S. stock index futures jumped about 1% on Tuesday, following a bruising selloff over the last few sessions on rate-hike induced recession fears that confirmed the Dow .DJI has been in a bear market for most of this year. ET, Dow e-minis 1YMcv1 were up 273 points, or 0.93%, S&P 500 e-minis EScv1 were up 42.25 points, or 1.15%, and Nasdaq 100 e-minis NQcv1 were up 152.5 points, or 1.35%.
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Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc META.O and Tesla Inc TSLA.O, rose between 1.1% and 2.1% as the U.S. 10-year Treasury yield US10YT=RR eased from more than a decade high. By Susan Mathew and Ankika Biswas Sept 27 (Reuters) - U.S. stock index futures jumped about 1% on Tuesday, following a bruising selloff over the last few sessions on rate-hike induced recession fears that confirmed the Dow .DJI has been in a bear market for most of this year. Analysts have cut their S&P 500 earnings estimates for the third and fourth quarters, and for all of 2022.
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19190.0
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2022-09-27 00:00:00 UTC
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Don't Worry About Stock-Picking Accuracy When You're Swinging for a Home Run
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AAPL
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https://www.nasdaq.com/articles/dont-worry-about-stock-picking-accuracy-when-youre-swinging-for-a-home-run
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nan
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nan
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Motley Fool CAPS (a free service at the Fool) is a wonderful investment tool that measures all my stock picks against the market. It's a way for investors to track their performance and see how they are doing. I put all my real-money stock picks in CAPS to track how I'm doing. And I also track an additional 150 or so names that are on one of my watchlists. So these are 199 stocks that I'm bullish on. I love to swim in the high-risk market pool, so a lot of these names are getting killed in 2022.
CAPS says that my accuracy is pretty awful. 54% of my stock picks are currently beating the market, and 46% of my stocks are underperforming the market. This doesn't concern me at all. Why is that? Because CAPS also informs me that I am in the top 2% of investors at the Motley Fool. So this gives me confidence that my strategies will work over time. I don't have to be right on every high-risk pick. (Especially in the short-term).
The cool thing about the stock market is that if you own a few huge winners over a couple of decades, you will see massive outperformance against the rest of the market. Buying Apple (NASDAQ: AAPL) in 2007 can make up for a whole mess of stinkers.
What I'm trying to do now is find the next Apple, the next monster stock that will be a huge winner in 2032. I am swinging for the fences like Babe Ruth. I'm going to strike out a lot. But when I hit one, I'm going to smack it a mile. And that's how I have outperformance. It's not the only way to make money in the market. (It's not Buffett's way, for instance). But it works for me, and it might work for you, too. There are some huge benefits in aiming for the fences.
Most people aren't doing it
Newbies are terrified of losing money and don't want to risk it. Fund managers and other professional money managers are afraid of newbie clients looking over their shoulder and complaining about recent underperformance. So they don't want to do it, either.
This is why, in my opinion, the high-risk sector is chronically undervalued. Many people don't understand these kinds of investments, and want to wait until they see profits, or until it's safer. But the single best time to buy a stock, in my opinion, is before the success of the company is apparent to everyone.
For instance, back in 2000, I quit the practice of law and I was writing a novel. My parents did not like this idea. I love my parents, but I do my thing. I took a year off. (This book did not make it to the public.) In order to do this, I had to sell every stock I had. Amazon (NASDAQ: AMZN) was the last to go.
My father had bought Amazon on my recommendation. And when I sold, he got cold feet. And he sold, too. So I left a million dollars on the bus, my father left a million dollars on the bus, we all learned a lesson.
When I'm right about the future (sometimes), I might be super-right. That means some of my stock picks might go up 1,000% or 10,000% or even higher than that, believe it or not. But I don't know which ones are going to pull it off until 20 years later. And if that sounds a little sketchy, annoying, and hard to duplicate, well, yeah. But that's how it works.
It pays off big to try to be a long-range financial planner
The farther you push out your investment time horizon, the more likely you are going to be wrong. The critical feedback that I hear about these kinds of investments is that they are "speculative." I hate this word, but I can't really knock it. We are speculating on what the future is going to be like 10 or 20 years from now.
Many people would say this is a waste of time, and we should focus on 2022 and (maybe) 2023. The vast majority of investors are impatient and they want to get rich quick. And they have a short-term investment time horizon. And the market smacks them around.
The stock market is a wealth-creation machine. But to really enjoy those rewards, you have to take risks, and you have to be patient. Those two skill sets don't naturally go together. I don't mind taking risks, but I constantly have to remind myself to be patient. Let the thesis play out.
For instance, internet commerce is an on-going massive worldwide trend. I expect it to still be a major trend in 2030. So I am bullish on internet commerce stocks from around the world, including MercadoLibre (NASDAQ: MELI), Sea (NYSE: SE), and Jumia (NYSE: JMIA).
Other ways to invest in e-commerce is to look at different sectors of the economy that have yet to be utterly transformed by the internet. So that makes me bullish on healthcare plays like Doximity (NYSE: DOCS), the high-fashion platform Farfetch (NYSE: FTCH), the used car dealer Carvana (NYSE: CVNA), and so forth.
I'm relatively certain of the macro phenomenon, and I see my job as finding the best investments to ride that trend.
My strategy is to invest for 2032, not 2022. I'm going to be wrong a lot. Maybe even 46% of the time. But all you need are a few massive winners to enjoy serious out-performance over time.
10 stocks we like better than Amazon
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 Amazon 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 August 17, 2022
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Taylor Carmichael has positions in Amazon, Apple, Carvana Co., Doximity, Inc., Farfetch Limited, Opendoor Technologies Inc., and Sea Limited. The Motley Fool has positions in and recommends Amazon, Apple, Doximity, Inc., Farfetch Limited, MercadoLibre, Opendoor Technologies Inc., and Sea Limited. 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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Buying Apple (NASDAQ: AAPL) in 2007 can make up for a whole mess of stinkers. Many people don't understand these kinds of investments, and want to wait until they see profits, or until it's safer. It pays off big to try to be a long-range financial planner The farther you push out your investment time horizon, the more likely you are going to be wrong.
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Buying Apple (NASDAQ: AAPL) in 2007 can make up for a whole mess of stinkers. So I left a million dollars on the bus, my father left a million dollars on the bus, we all learned a lesson. Taylor Carmichael has positions in Amazon, Apple, Carvana Co., Doximity, Inc., Farfetch Limited, Opendoor Technologies Inc., and Sea Limited.
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Buying Apple (NASDAQ: AAPL) in 2007 can make up for a whole mess of stinkers. Motley Fool CAPS (a free service at the Fool) is a wonderful investment tool that measures all my stock picks against the market. 54% of my stock picks are currently beating the market, and 46% of my stocks are underperforming the market.
|
Buying Apple (NASDAQ: AAPL) in 2007 can make up for a whole mess of stinkers. 54% of my stock picks are currently beating the market, and 46% of my stocks are underperforming the market. Most people aren't doing it Newbies are terrified of losing money and don't want to risk it.
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19191.0
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2022-09-26 00:00:00 UTC
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Author Morgan Housel Talks About Inflation, Buffett, Bear Markets, and More
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AAPL
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https://www.nasdaq.com/articles/author-morgan-housel-talks-about-inflation-buffett-bear-markets-and-more
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nan
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nan
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Motley Fool host Chris Hill recently talked with best-selling author Morgan Housel in front of a live audience about topics including:
Why inflation is so personal and variable.
Elon Musk's best product (hint: it's not a car).
The power of incentives.
The secret to 99% of Warren Buffett's success.
Investing through bear markets.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
10 stocks we like better than Walmart
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They just revealed what they believe are the ten best stocks for investors to buy right now... and Walmart wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Stock Advisor returns as of 2/14/21
This video was recorded on September 24, 2022.
Morgan Housel: The vast majority of his net worth came in his elderly years. The takeaway from that for me is that look if Buffett had retired at age 60, like a normal person might, no one in this room would have ever heard of him. All of his success came in his 70s, 80s, and early 90s, and that's really important because we spend all this time talking about how he values companies. But the whole secret to his success is not that he's good at picking companies, it's not even that he's a good investor, it's that he's been a good investor for 80 years.
Chris Hill: I'm Chris Hill, and that's Morgan Housel, author of the international best-selling book, The Psychology of Money. When I interviewed Housel in front of a live audience, we talked about investing through bear markets, the power of incentives, and what he's working on for his next book. But I kicked off the conversation by asking about what he's encountered since writing The Psychology of Money.
I know that the number of copies that your book sold is surprising to you, so let's just put that aside. In terms of reaction to the book, whether it's from financial media, institutions, people you've met, what has surprised you the most in terms of the reaction?
Morgan Housel: One thing I think is interesting is a big theme of the book is that everyone's different and has different goals, and different risk tolerances, and different aspirations, different incomes, family situations, and because of that, no two people, even if you are the same age, same education, same information, are going to come to the same conclusion about what you should do with your money. How to invest your money, how to spend your money, there's no one right answer. It's not like Math where 2 plus 2 equals 4 for everybody, no matter who you are. Investing, it's a very individual pursuit. That's a big theme of the book. Now the last chapter of the book is called Confessions, and I lay out exactly, how my wife and I, what we do with our money. There's no numbers in there, but it's here's how we spend, here's how we save, here's how we invest, here's what's our goals are. Despite the book, up to that point, saying everyone's different, so many people were so offended by how I invest my money.
I really do think that there's this quote that I love, I'm going to butcher it, but it's when people spend more time on the Internet being exposed to other opinions, the anger they get that other opinions exist. I think it's true for investing too that even if you accept and know that everyone is different and comes to different conclusions, if somebody else's investing their money different from you are, it's very easy to view that as a slight on your own strategy. The number of readers who reached out and said, I like the book until that chapter, and now I can't take you seriously anymore, I thought was pretty interesting. It's pretty telling too that people take offense when others manage their money, spend their money, invest their money different than they do because they view it as a threat. I think they view as maybe an indication that maybe they're doing it wrong and that makes them anxious about it.
Chris Hill: I want to get to some things you've written recently, but first, a huge topic of conversation including, on the stage, yesterday's inflation. I'm curious about what is the piece of the inflation conversation that you find most interesting?
Morgan Housel: What I think is most interesting, the first thing is that there's no other variable in the economy that gets people as fired up, as angry, as inflation, and the number 1 thing you hear that a lot of you will agree with, I'm sure, is that the inflation number that is published every month does not reflect reality. That is a big narrative that's out there among millions and millions of people. What I think is interesting about how that could be true is because normally people will say that and then they will say because the number is not calculated properly, they're intentionally under-reporting what it is. But what I think is really interesting is that everyone spends their money differently. So no two people have the same inflation rate. There is no such thing as the inflation rate.
It's just your own individual household. If you have a 100 mile daily commute, then of course, you are more sensitive to gas prices than someone who just works from home all the time, or if you or your children are in college, then tuition prices mean everything to you. If you are not in college, you couldn't care less about what tuition prices are doing. So since everyone spends their money differently, everyone has their own individual inflation rate. I think right now, the published inflation rate is eight-and-a-half percent, something like that 8.7, whatever it is. I'm sure there are people whose personal inflation rate is zero, and there are people whose personal inflation rate is 30, 40 percent and everything in between. That's what's most interesting is that there's no the inflation rate, and that's not true for other data. There is one price of Apple stock for everybody, but inflation, there's such a huge variance of outcomes. That's why I think it's so controversial and why people get so uptight about it.
Chris Hill: Let me tee you up with a couple of things that you had written recently that I found particularly interesting and I think apply to investing and, in particular, looking at different stocks. But just from an investing standpoint, you recently wrote, "Sitting still feels reckless in a fast moving world." Which I immediately identified with because there have certainly been times when the market is dropping, where my gut instinct is, what do I do? I really should do something.
Morgan Housel: One of the biggest innovations in the last 20 or 30 years, even just last 10 years, is that it's so much easier and cheaper to make a financial transaction to buy and sell securities. It used to be not that long ago and definitely 20, 30 years ago that to buy or sell stock, it was a phone call to your broker, and it would cost you a 100 bucks each way, in and out. So the barrier to entry to make a decision was higher. You thought twice, about whether you need to do it. It's not like that anymore. It's free. You go on your phone, boom, click, and you're done. I think it's just made it easier to pull the levers and twist the knobs. When the world is falling apart, and things are uncertain, and the headlines seem scary, it's so easy to pull those levers these days, even if you know it's the wrong thing to do, but it often feels like the right thing to do because if you see everything falling apart around you, and your reaction is to shrug your shoulders and say, well, let's see what happens here.
That probably is the right thing to do, but it feels reckless. There's no other situation in your life where you think there is a big existential threat to your well-being, and the right thing to do is nothing. If your house is on fire, you should do something about it. There's an action you should take. I think that's just a quirk about investing is that since it is a long-term game that should be measured in years, if not decades, we know that the right thing to do the huge majority of the time is nothing. But it feels reckless. It feels like you are just being ignorant of the risks that are out there, if you do nothing, even if it's right thing.
Chris Hill: "No one's success is proven until they've survived a calamity," which I'm assuming you wrote about individual accomplishments and possibly businesses as well, having to deal with their own crisis. But I'm wondering if you think that applies to individual investors, particularly when they're starting out?
Morgan Housel: I think it's mostly investors. There are many other fields where you have the potential to not only do well, but very well, based on dumb luck. They're not many other fields like that, you can't be a top NBA player based on luck. It's just impossible. But in investing you can. There exists the possibility that your success is due to luck. I'm not saying everyone's is, but the possibility exists. For a subset of investors, that's definitely what it has been particularly over the last couple of years when there was a subset of tech stocks that were just going bananas and doing so well. Because of that, I think the only way that you can really separate luck from skill is surviving a calamity and seeing who's around after that, not just individual investors, but every single cycle there are hedge fund managers, private equity fund managers, businesses, CEOs, who are the shining stars. Then the tide goes out and you realize, their skill was good for that particular moment, but there was no sense of endurance or longevity attached to it.
I think if you were to look at someone like Warren Buffett, or George Soros, or someone like that, people who've been investing for 50, 60 years and have succeeded in every possible climate, have survived every possible calamity that they've been through, that's when you know that there's actual real skill there. The hard part about it is that sometimes the economic cycles take a decade. It might take a while. You can be crowned as the star fund manager of the decade, and then the tide goes out, and it's all washed away. There were a lot of people like that. Who was it? The fund manager of the decade in the early 2000 was a guy named Ken Huebner. Amazing returns from 2000-2008, and then the tide went out and that was effectively it. If you view investing is like I want to stick around for decades, I'm thinking about like building generational money, then you need to be able to survive and thrive in multiple different cycles. I think it's just the only way to separate skill from luck.
Chris Hill: Taking that one step further because part of what we've talked about, including David Gardner yesterday, his work with the Fool Foundation and really trying to encourage younger people to invest, all that thing, it almost seems we need to prepare people for the inevitable downfall or just bear market, that thing. Because it's almost like, "Hey, we're not going to give you a gold star." It's great to succeed in investing, but we're not really considering you an investor until you can show us the scars of you've invested through a bear market.
Morgan Housel: I think that's right. Since it might only happen, what were the big bear markets of the last generation? It was 2000, 2008, and maybe March of 2020, but that lasted a month before it was basically over. It's really only been two real cycles in the last 25 years or 30 years, only two big cycles. Even in your entire investing lifetime, you might only go through two or three of these cycles. Maybe you'll go through more, since they happen so infrequently, it's easy to become lulled into the idea that they don't exist or that you are immune to them or that your skill was actually just serendipity masquerading as skill. You thought that your investing returns were because of your intelligence and your skill, and then the tide goes out in your eyes, it's very different. The Warren Buffett quote is you only realize who's swimming naked when the tide goes out.
Chris Hill: What are the odds that there were people who started investing in early 2020, made it through that bear market and thought, "Oh, this is fine. Bear markets don't last that long."
Morgan Housel: I think it's next to none. But if you look at just Robinhood, which was predominantly going after young men aged 18-25, that's by far and away their core. They added 10 million new accounts in 2020, incredible. So many people came into the market and by and large because it was in Robinhood, they were being incentivized. They were being led to trade and trade the most obnoxious bankrupt penny stocks you can think of. That was the whole game. That's Robinhood's business model is to not get you to invest for the long term in good company, it was just get you to keep pulling the lever. That worked amazing for about a year. I remember in late 2020, a young guy came to me and said, "If you can't double your money every year, you have no idea what you're doing as an investor."
I remember being, like, all right. We know what's happened to all those people over the last six or nine months. The tide went out, so to speak. Just from watching Robinhood results, it's not pretty. In one way, I think it's almost a benefit if you learn what risk is when you're 19 versus 45 and putting your kids through college, maybe it's good that you learn that lesson early on, but it's also tough to watch a whole generation of investors being pushed into the gambling quarter of investing because now it leaves a taste in their mouth of now that everything is washed out like, "Oh, the odds are stacked against me. It's all gambling. It's a joke." Will that stick with them for the next 10 or 20 years, and they don't become good investors? I think that's a risk too.
Chris Hill: One other thing you wrote recently is, "Incentives are the strongest force in the world." That's a pretty absolute type of statement. When I read it, it immediately got me in the mindset of using incentives as a lens through which to view businesses.
Morgan Housel: Yeah.
Chris Hill: Is that how you intended it, and should we be doing that?
Morgan Housel: I started to really think about this after the financial crisis of 2008, when there was so much criticism, rightful criticism of the greedy Wall Street bankers, accurate criticism. The part that I disagreed with is people who don't understand that if they were a 25-year-old who was told package these subprime mortgages, and we'll give you a $3 million bonus, you would've done it too. People really underestimated what they would be capable of if the incentives were correct. It's not to absolve anyone who did terrible things, but people underestimate what they are willing to do if the incentives are appropriate, and I think you see this at the CEO level, you see at the company level, you see it among fund managers. I think there is a tremendous amount of misbehavior in the investing industry, but the huge majority of those people are good, honest, well-meaning people. They just exist in an industry where the incentives can be so twisted, and incentives can be so enormous, and people who can make millions of dollars a year if they're willing to close their eyes and look the other way. The number of people who are willing to do it that I've seen in the industry is pretty high. I think that was where that came from.
Chris Hill: Let's stick with the CEOs for a second because there are CEOs who are paid tens of millions of dollars a year just in their salary, and then there are CEOs who do the whole like, "I'm just going to take a dollar and I'm going to take it in stock options." But of course, then their incentive is tied to the price of the stock. Do you view one as being better than the other?
Morgan Housel: When Collaborative Fund was founded in 2010, I was not there. But when Craig Shapiro started it, when he's starting a brand new venture capital fund, he thought it would be great to tell investors, "Hey, I'm not going to charge you a management fee. This is my first fund. I only need to prove myself. No fee." He thought that would be great, that the investors would be, like, "Amazing. We love this." Every single investor to a T told him, we cannot invest in your fund if you don't have a management fee because you don't have any incentive. It's just not a viable, enduring organization that can work. I know most of the CEOs who take a one-dollar salary are deca-billionaires, so whatever salary you're going to give them makes no difference: Jeff Bezos, Mark Zuckerberg, the [Alphabet's] Google guys, whatnot. It makes no difference to them whatsoever. It's an interesting situation when you have a CEO compensation structure like Elon Musk had.
I forget when it was granted, maybe 2016, 2017, basically it was, if you turn Tesla into a trillion-dollar company, we will give you $20 billion. I'm not 100 percent accurate, but it was something close to that, and he did. He turned it into a trillion-dollar company and then he was paid something like $20 billion as his compensation. That's not like his original investment when he's founded the company. That was just his paycheck. It was $20 billion. It's always the case in CEO compensation that it just ratchets to whoever the next guy was. Now you're going to have all these other CEOs from other industries who are, like, Elon Musk got $20 billion. That's now my baseline to do. It just keeps ratcheting up, and so many of the compensation structures, they're not tied to results. They're tied to share price, which is by and large outside of the CEO's control. They got a lot of really twisted incentives, and it's all tied to your competitors. It's almost similar to in the real estate market when the price is based on comps.
The prices keep going up because your sales price, it wants to be 5 percent higher than whatever the last guy, just keeps going up and up. I think it's really similar for CEO comp too. There are a handful of CEOs now who make over $100 million a year. Every single one of those people, I think almost to a T, the share price performance does not back it up. There have been some studies actually that there was a negative correlation between CEO comp and shareholder returns, It's a negative correlation. The higher it gets, the worse shareholder returns ultimately are after that. The reason really simply is just because you have a CEO in that situation whose only goal is to enrich themselves. It's not to build the business for the long term. It's not to take care of customers. The whole goal, when they wake up in the morning is like, "How can I make my targets to get my bonus?"
Chris Hill: I'm following you on Twitter, like a lot of people, and I appreciate that you don't tweet very often. So thank you. People are just mass tweeting. That's too much. You tweeted something recently. "Every great investment was once mocked by the crowd. The crowd is usually right." Would you care to unpack that?
Morgan Housel: Of course. To have a standout company or to be a standout investor, it's rare. Of course, it's rare. It has to be rare. It has to be a one in 100, one in a 1,000 thing. So it's always the case whenever there's a new technology, a new up-and-coming business, a new investing strategy that the crowd mocks them always the case. It has always been the case, always will be the case. But the crowd is usually right. They are usually right to be mocked. It usually ends up not working. I think a lot of that particularly in early stage companies, venture capital where it's like, it's not supposed to work. If a venture capital fund invest in 100 businesses, you know your baseline expectation is that at least half of them are going to be out of business within two years.
That's the baseline expectation. Of course, success is always very rare. I brought it up because there's always a case with new investments and new companies where there is a lot of criticism of those companies and, a lot of times the investors will say, you also criticize Google, you also criticize [Meta's] Facebook. They use the criticism of the crowd as an indication that they are right. To be successful, you need to be a contrarian. But most contrarianism is just cynicism. It's not actually real contrarianism. That's the court to it. I think a lot of investing is like it's supposed to be hard. It's not supposed to be easy, and there should exist no world when every company or every investor who's trying to be better than everyone else is successful at doing it. It's always going to be the case that 90 percent of companies and 90 percent of investors do not meet the objectives that they set out to.
Chris Hill: Part of that process ties into something else you've talked about in terms of the story that companies tell, and the idea that the best story wins because the truly transcending companies are telling a story that is different. They're doing things in a different way. On the flip side, we can't count the number of businesses that have either said about themselves or others have said about them. This is the next Apple.
Morgan Housel: Yeah.
Chris Hill: This is the next Google.
Morgan Housel: In terms of telling stories why not someone brought out this point recently that I really liked, and they said Elon Musk's best product is not a car, it's not a spaceship, it's Tesla's stock. That is most amazing because he's told such a good story and got so many people to nod their heads to that story. Ford is multiple times the size of Tesla in terms of the cars they produce, in revenue and profits, and Tesla is worth 50 times as much, 20 times as much, whatever it is. All that is just because Musk has done such a good job telling the story. I think any successful company that you look at, the leader's ability to tell a story about that company exceeds even the success of that company's products.
Chris Hill: You mentioned Warren Buffett earlier. Today is his birthday. He is 92 years old. I don't know how many books have been written about him and how many articles, but among, if not the most examined life in the world of investing, is there any part of Buffett and his investing that you think gets less attention than other parts?
Morgan Housel: What is interesting is that, God knows how many books had been written about him, they all go into so much detail about how Buffett thinks about moats, and business models, and valuation, and management teams. How does he analyze companies? That's 99 percent of the analysis of his success. Those are all really important. That's an important topic. But if you look at the trajectory of his life, 99 percent of his net worth was accumulated after his 50th birthday. Ninety-eight percent came after his 65th birthday. The vast majority of his net worth came in his elderly years. The takeaway from that for me is that, look, if Buffett had retired at age 60, like a normal person might, no one in this room would have ever heard of him.
All of his success came in his 70s, 80s, and early 90s. That's really important because we spend all this time talking about how he values companies. But the whole secret to his success is not that he's good at picking companies. It's not even that he's a good investor. It's that he's been a good investor for 80 years. That makes all the difference in the world. That's 99 percent of the success. So if you wonder, like, what is the takeaway from Buffett success? It's not how he values companies, it's not how he thinks about management, it's his endurance and longevity that is 99 percent of that success, and that is very often overlooked. I think, that answer, that all of his success is just the fact that he's been investing full time since he was 11 years old, and now he's 92, it's too simple for people to take seriously.
It's too boring. They want to dig deep into how he digs into balance sheets and income statements. Also it seems too hard, like, if the answer is, just wait another half-century, and you'll accumulate some wealth too, no one wants to hear that answer. They want the answer that you can put to use today. They want the pill, so to speak. It's similar in medicine. If the doctor says, you need to sleep more, and diet, and exercise, you'll be, like, no, I want the pill. Give me the pill. It's going to make it better. I think it's similar in investing. That's the part that I think is overlooked about what he's done.
Chris Hill: We got a minute left. Let me close with a question that I know is on the minds of a lot of people, particularly those who have read your book, which is, is there another book in the works?
Morgan Housel: The question is, are you going to do the audio book version of it again?
Chris Hill: That's my follow-up question.
Morgan Housel: Yeah, I'm writing another book right now. I think it'll probably be out next spring or summer. It's about the behaviours that never change over time in business and investing, but also other areas in life. What were people doing 100 years ago that they'll be doing 100 years from now. I think there's so much focus and emphasis on what's going to change, what industries are going to change, what technology is going to change, which is cool and important, but it's the things that never change that I think move the needle the most, the behaviors of greed and fear and how people respond to surprise. Those things never change. I'll tell you a quick story where I got this from. There is a book called The Great Depression, A Diary. It was written by a lawyer named Benjamin Roth, who was a lawyer during The Great Depression.
He kept a very intricate diary of what was going on in the economy. His son published it in 2010, and I think it's the best economic book ever written because there's no hindsight bias in the book. He was writing all this in real-time in the 1930s. There's an entry in there where I was reading it and I thought this is exactly verbatim what somebody would have said in 2008, during the financial crisis. When he was writing in 1932, it's exactly what you would have said in 2008. His next entry, he's writing, and he says, what's going on in 1932 reminds me exactly of what happened in 1907. What happened in 1907 is exactly what happened in 1876. These things never ever change. It's the same story over and over again. So I think just understanding those behaviors that never change, that's what I'm digging into in this book.
Chris Hill: 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.
Suzanne Frey, an executive at Alphabet, 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. Chris Hill has positions in Alphabet (A shares), Alphabet (C shares), and Apple. Morgan Housel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Apple, Meta Platforms, Inc., Tesla, and Twitter. 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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Motley Fool host Chris Hill recently talked with best-selling author Morgan Housel in front of a live audience about topics including: Why inflation is so personal and variable. Morgan Housel: In terms of telling stories why not someone brought out this point recently that I really liked, and they said Elon Musk's best product is not a car, it's not a spaceship, it's Tesla's stock. Morgan Housel: What is interesting is that, God knows how many books had been written about him, they all go into so much detail about how Buffett thinks about moats, and business models, and valuation, and management teams.
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Motley Fool host Chris Hill recently talked with best-selling author Morgan Housel in front of a live audience about topics including: Why inflation is so personal and variable. Morgan Housel: One thing I think is interesting is a big theme of the book is that everyone's different and has different goals, and different risk tolerances, and different aspirations, different incomes, family situations, and because of that, no two people, even if you are the same age, same education, same information, are going to come to the same conclusion about what you should do with your money. The Motley Fool has positions in and recommends Alphabet (A shares), Alphabet (C shares), Apple, Meta Platforms, Inc., Tesla, and Twitter.
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Morgan Housel: What I think is most interesting, the first thing is that there's no other variable in the economy that gets people as fired up, as angry, as inflation, and the number 1 thing you hear that a lot of you will agree with, I'm sure, is that the inflation number that is published every month does not reflect reality. Chris Hill: Taking that one step further because part of what we've talked about, including David Gardner yesterday, his work with the Fool Foundation and really trying to encourage younger people to invest, all that thing, it almost seems we need to prepare people for the inevitable downfall or just bear market, that thing. Chris Hill: 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.
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Morgan Housel: What I think is most interesting, the first thing is that there's no other variable in the economy that gets people as fired up, as angry, as inflation, and the number 1 thing you hear that a lot of you will agree with, I'm sure, is that the inflation number that is published every month does not reflect reality. They just exist in an industry where the incentives can be so twisted, and incentives can be so enormous, and people who can make millions of dollars a year if they're willing to close their eyes and look the other way. Every single investor to a T told him, we cannot invest in your fund if you don't have a management fee because you don't have any incentive.
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19192.0
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2022-09-26 00:00:00 UTC
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ITOT, CONL: Big ETF Inflows
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AAPL
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https://www.nasdaq.com/articles/itot-conl%3A-big-etf-inflows
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nan
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Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Core S&P Total U.S. Stock Market ETF (ITOT), which added 20,900,000 units, or a 4.5% increase week over week. Among the largest underlying components of ITOT, in morning trading today Apple (AAPL) is up about 2%, and Microsoft Corporation (MSFT) is higher by about 1.3%.
And on a percentage change basis, the ETF with the biggest increase in inflows was the CONL ETF (CONL), which added 20,000 units, for a 40.0% increase in outstanding units.
VIDEO: ITOT, CONL: Big ETF Inflows
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of ITOT, in morning trading today Apple (AAPL) is up about 2%, and Microsoft Corporation (MSFT) is higher by about 1.3%. Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Core S&P Total U.S. Stock Market ETF (ITOT), which added 20,900,000 units, or a 4.5% increase week over week. And on a percentage change basis, the ETF with the biggest increase in inflows was the CONL ETF (CONL), which added 20,000 units, for a 40.0% increase in outstanding units.
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Among the largest underlying components of ITOT, in morning trading today Apple (AAPL) is up about 2%, and Microsoft Corporation (MSFT) is higher by about 1.3%. Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Core S&P Total U.S. Stock Market ETF (ITOT), which added 20,900,000 units, or a 4.5% increase week over week. And on a percentage change basis, the ETF with the biggest increase in inflows was the CONL ETF (CONL), which added 20,000 units, for a 40.0% increase in outstanding units.
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Among the largest underlying components of ITOT, in morning trading today Apple (AAPL) is up about 2%, and Microsoft Corporation (MSFT) is higher by about 1.3%. Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Core S&P Total U.S. Stock Market ETF (ITOT), which added 20,900,000 units, or a 4.5% increase week over week. And on a percentage change basis, the ETF with the biggest increase in inflows was the CONL ETF (CONL), which added 20,000 units, for a 40.0% increase in outstanding units.
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Among the largest underlying components of ITOT, in morning trading today Apple (AAPL) is up about 2%, and Microsoft Corporation (MSFT) is higher by about 1.3%. Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Core S&P Total U.S. Stock Market ETF (ITOT), which added 20,900,000 units, or a 4.5% increase week over week. And on a percentage change basis, the ETF with the biggest increase in inflows was the CONL ETF (CONL), which added 20,000 units, for a 40.0% increase in outstanding units.
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19193.0
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2022-09-26 00:00:00 UTC
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Apple (AAPL) Starts Producing iPhone 14 in India Ahead of Time
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AAPL
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https://www.nasdaq.com/articles/apple-aapl-starts-producing-iphone-14-in-india-ahead-of-time
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nan
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Apple AAPL is gradually lowering its dependency on China for producing iPhones by shifting production to India and countries in South Asia like Vietnam.
The iPhone-maker has started producing the latest iPhone 14 in India much sooner than expected, driven by a smooth production rollout that reduced “lag time between Chinese and Indian output from months to mere weeks,” per a Bloomberg report.
Apple unveiled four new iPhone models — iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max — on Sep 7, at its biggest product launch event of the year. The company also launched the next-gen Airpods Pro, the Apple Watch Series 8, the new Apple Watch SE, Apple Watch Ultra and updates to Fitness+ at the event.
Apple partner Foxconn is manufacturing iPhone 14 in the Sriperumbudur facility near Chennai. These devices are expected to go on sale in India later this year, per TechCrunch. India has attracted investments from Apple’s manufacturing partners like Foxconn and Wistron in recent years by offering lucrative subsidies.
India is expected to become a major production hub for Apple by 2025. According to JP Morgan analysts, Apple will move 5% of global iPhone 14 production to India by late 2022 and will manufacture 25% of all iPhones by 2025.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
Meanwhile, Vietnam will contribute 20% of all iPad and Apple Watch productions, 5% of MacBook and 65% of AirPods by 2025.
Apple is not the only tech major focused on reducing dependency on China and increasing production capacity in India. Apple’s closest peer, Samsung, already has a significant production capacity in the country.
Alphabet’s GOOGL Google division is planning to produce the Pixel smartphone in India. Google plans to assemble between 500K and 1 million units of the smartphone, which is roughly Pixel’s 10-20% of annual production.
New iPhones to Boost Apple’s Prospects
Apple has been struggling in 2022, primarily due to coronavirus-induced supply-chain disruptions, industry-wide silicon shortage, unfavorable forex and the Russia-Ukraine conflict.
The near-term outlook is not enthusiastic, given the headwinds. Apple did not provide revenue guidance for the third quarter of fiscal 2022. Apple expects COVID-induced supply chain disruptions and the industry-wide silicon shortage to hurt its top line by $4-$8 billion. Unfavorable forex is also expected to hurt revenues by 300 basis points (bps).
Moreover, the absence of revenues from Russia is expected to hurt the top line by 150 bps. Apple paused all sales in Russia during the fiscal second quarter (March quarter).
Nevertheless, the strong pre-order data for iPhones is encouraging for Apple. The company also released iOS 16 for iPhone users. The latest version offers features including new edit, undo send, and mark conversations as unread features as well as a completely customizable lock screen.
Apple shares have outperformed the Zacks Computer & Technology sector and peers like Alphabet on a year-to-date basis.
Apple shares are down 15.3% compared with the sector’s decline of 34.6% and Alphabet’s 31.9% year-to-date decline.
Apple is expected to benefit from the strong momentum of the Services portfolio, of which Fitness+ and Apple TV+ are a part. Apple had more than 860 million paid subscribers across its Services portfolio at the end of the fiscal third quarter.
Zacks Rank & Couple of Stocks to Consider
Apple currently has a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the same sector are Absolute Software ABST and Paylocity PCTY), both sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Absolute shares have increased 13.6% in the year-to-date period. The Zacks Consensus Estimate for ABST’s fiscal 2023 earnings has moved 487.5% higher over the past 30 days to 47 cents per share.
Paylocity shares have increased 0.1% in the year-to-date period. The Zacks Consensus Estimate for PCTY’s fiscal 2023 earnings has been steady over the past 30 days at $3.58 per share.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Apple Inc. (AAPL): Free Stock Analysis Report
Alphabet Inc. (GOOGL): Free Stock Analysis Report
Paylocity Holding Corporation (PCTY): Free Stock Analysis Report
Absolute Software Corporation (ABST): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple AAPL is gradually lowering its dependency on China for producing iPhones by shifting production to India and countries in South Asia like Vietnam. Apple Inc. (AAPL): Free Stock Analysis Report The iPhone-maker has started producing the latest iPhone 14 in India much sooner than expected, driven by a smooth production rollout that reduced “lag time between Chinese and Indian output from months to mere weeks,” per a Bloomberg report.
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Apple AAPL is gradually lowering its dependency on China for producing iPhones by shifting production to India and countries in South Asia like Vietnam. Apple Inc. (AAPL): Free Stock Analysis Report New iPhones to Boost Apple’s Prospects Apple has been struggling in 2022, primarily due to coronavirus-induced supply-chain disruptions, industry-wide silicon shortage, unfavorable forex and the Russia-Ukraine conflict.
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Apple AAPL is gradually lowering its dependency on China for producing iPhones by shifting production to India and countries in South Asia like Vietnam. Apple Inc. (AAPL): Free Stock Analysis Report Apple unveiled four new iPhone models — iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max — on Sep 7, at its biggest product launch event of the year.
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Apple AAPL is gradually lowering its dependency on China for producing iPhones by shifting production to India and countries in South Asia like Vietnam. Apple Inc. (AAPL): Free Stock Analysis Report Apple unveiled four new iPhone models — iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max — on Sep 7, at its biggest product launch event of the year.
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19194.0
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2022-09-26 00:00:00 UTC
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Why Apple Stock Rallied Monday Morning
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AAPL
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https://www.nasdaq.com/articles/why-apple-stock-rallied-monday-morning
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nan
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nan
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What happened
Shares of Apple (NASDAQ: AAPL) climbed higher Monday morning, adding as much as 2.2%. As of 12:36 p.m. ET today, the stock was still up 1.1%, even as the broader market slipped.
That catalyst that sent the tech giant higher were reports that it had begun manufacturing some iPhone 14 models in India.
So what
Apple has long produced the vast majority of its iPhones in China. In recent years, however, the company has been working to diversify its manufacturing footprint, while also expanding its market share in India.
The company has been producing a limited number of devices in India for about five years, but assembly has been restricted to older models, including the iPhone SE. Apple global manufacturing partner Foxconn is producing the locally manufactured iPhones, which will be available to customers in India within days.
Apple issued the following statement: "The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India."
Now what
There are a number of benefits to further expanding beyond its primary factory. Apple has been working to increase its market share in India, but those efforts have been hampered by lower-cost smartphones from competitors manufactured in that country. By increasing its production capacity in India, Apple could reduce the cost of the device for consumers in the local market, and it could also export iPhones to nearby markets, according to reports.
Apple has also been hampered by government efforts to curb the resurgence of COVID-19 in China, which has resulted in lockdowns and manufacturing delays due to shuttered factories. This has shined a spotlight on a potential weakness in Apple's supply chain.
In a note to clients earlier this month, J.P. Morgan analysts posited that Apple would likely move 5% of its worldwide production of the iPhone 14 to India by later this year. Furthermore, Apple could make one-quarter of all iPhones in India by 2025, the analysts suggested.
This is a smart move, particularly since the company generates more than half its revenue from the iPhone. Not only will this provide Apple with additional production options, but also help it tap into the world's second-largest population.
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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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What happened Shares of Apple (NASDAQ: AAPL) climbed higher Monday morning, adding as much as 2.2%. The company has been producing a limited number of devices in India for about five years, but assembly has been restricted to older models, including the iPhone SE. Apple has also been hampered by government efforts to curb the resurgence of COVID-19 in China, which has resulted in lockdowns and manufacturing delays due to shuttered factories.
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What happened Shares of Apple (NASDAQ: AAPL) climbed higher Monday morning, adding as much as 2.2%. Apple global manufacturing partner Foxconn is producing the locally manufactured iPhones, which will be available to customers in India within days. Apple has been working to increase its market share in India, but those efforts have been hampered by lower-cost smartphones from competitors manufactured in that country.
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What happened Shares of Apple (NASDAQ: AAPL) climbed higher Monday morning, adding as much as 2.2%. Apple global manufacturing partner Foxconn is producing the locally manufactured iPhones, which will be available to customers in India within days. By increasing its production capacity in India, Apple could reduce the cost of the device for consumers in the local market, and it could also export iPhones to nearby markets, according to reports.
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What happened Shares of Apple (NASDAQ: AAPL) climbed higher Monday morning, adding as much as 2.2%. We're excited to be manufacturing iPhone 14 in India." See the 10 stocks *Stock Advisor returns as of August 17, 2022 Danny Vena has positions in Apple.
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19195.0
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2022-09-26 00:00:00 UTC
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US STOCKS-Wall Street ends lower, Dow confirms bear market
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-lower-dow-confirms-bear-market
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By Noel Randewich
Sept 26 (Reuters) - Wall Street slid deeper into a bear market on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve's aggressive campaign against inflation could throw the U.S. economy into a sharp downturn.
After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average .DJI confirmed it has been in a bear market since early January. The S&P 500 index .SPX confirmed in June it was in a bear market, and on Monday it ended the session below its mid-June closing low, extending this year's overall selloff.
With the Fed signaling last Wednesday that high interest rates could last through 2023, the S&P 500 has relinquished the last of its gains made in a summer rally.
"Investors are just throwing in the towel," said Jake Dollarhide, Chief Executive Officer of Longbow Asset Management in Tulsa, Oklahoma. "It's the uncertainty about the high-water mark for the Fed funds rate. Is it 4.6%, is it 5%? Is it sometime in 2023?"
Confidence among stock traders was also shaken by dramatic moves in the global foreign exchange market as sterling GBP=D3 hit an all-time low on worries that the new British government's fiscal plan released Friday threatened to stretch the country's finances. MKTS/GLOB
That added an extra layer of volatility to markets, where investors are worried about a global recession amid decades-high inflation. The CBOE Volatility index .VIX, hovered near three-month highs.
The Dow is now down 20.5% from its record high close on Jan. 4. According to a widely used definition, ending the session down 20% or more from its record high close confirms the Dow has been in a bear market since hitting its January peak.
The S&P 500 has yet to drop below its intra-day low on June 17. It is down about 23% so far in 2022.
In Monday's session, the Dow Jones Industrial Average .DJI fell 1.11% to end at 29,260.81 points, while the S&P 500 .SPX lost 1.03% to 3,655.04.
The Nasdaq Composite .IXIC dropped 0.6% to 10,802.92.
Ten of 11 S&P 500s sector indexes fell, led by 2.6% drops in real estate .SPLRCR and energy .SPNY.
Gains in Amazon > and Costco Wholesale Corp COST.Ohelped limit losses in the Nasdaq.
Shares of casino operators Wynn Resorts WYNN.O, Las Vegas Sands Corp LVS.N and Melco Resorts & Entertainment MLCO.O jumped between 11.8% and 25.5% after Macau planned to open to mainland Chinese tour groups in November for the first time in almost three years.
Volume on U.S. exchanges was 11.9 billion shares, compared with the 11.2 billion average for the full session over the last 20 trading days.
Declining issues outnumbered advancing ones on the NYSE by a 5.37-to-1 ratio; on Nasdaq, a 2.31-to-1 ratio favored decliners.
The S&P 500 posted no new 52-week highs and 120 new lows; the Nasdaq Composite recorded 16 new highs and 594 new lows.
Every S&P 500 stock's performance in 2022https://tmsnrt.rs/3rfOvaB
Dow Jones Industrials bear marketshttps://tmsnrt.rs/3RfdTYI
(Reporting by Shreyashi Sanyal and Ankika Biswas in Bengaluru; Editing by Anil D'Silva, Shounak Dasgupta and David Gregoro)
((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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By Noel Randewich Sept 26 (Reuters) - Wall Street slid deeper into a bear market on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve's aggressive campaign against inflation could throw the U.S. economy into a sharp downturn. Confidence among stock traders was also shaken by dramatic moves in the global foreign exchange market as sterling GBP=D3 hit an all-time low on worries that the new British government's fiscal plan released Friday threatened to stretch the country's finances. According to a widely used definition, ending the session down 20% or more from its record high close confirms the Dow has been in a bear market since hitting its January peak.
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After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average .DJI confirmed it has been in a bear market since early January. According to a widely used definition, ending the session down 20% or more from its record high close confirms the Dow has been in a bear market since hitting its January peak. In Monday's session, the Dow Jones Industrial Average .DJI fell 1.11% to end at 29,260.81 points, while the S&P 500 .SPX lost 1.03% to 3,655.04.
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The S&P 500 index .SPX confirmed in June it was in a bear market, and on Monday it ended the session below its mid-June closing low, extending this year's overall selloff. According to a widely used definition, ending the session down 20% or more from its record high close confirms the Dow has been in a bear market since hitting its January peak. The S&P 500 posted no new 52-week highs and 120 new lows; the Nasdaq Composite recorded 16 new highs and 594 new lows.
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The S&P 500 index .SPX confirmed in June it was in a bear market, and on Monday it ended the session below its mid-June closing low, extending this year's overall selloff. In Monday's session, the Dow Jones Industrial Average .DJI fell 1.11% to end at 29,260.81 points, while the S&P 500 .SPX lost 1.03% to 3,655.04. The S&P 500 posted no new 52-week highs and 120 new lows; the Nasdaq Composite recorded 16 new highs and 594 new lows.
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19196.0
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2022-09-26 00:00:00 UTC
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US STOCKS-Wall Street ends lower, sinks deeper into bear market
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AAPL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-lower-sinks-deeper-into-bear-market
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nan
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nan
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By Noel Randewich and Shreyashi Sanyal
Sept 26 (Reuters) - Wall Street slid deeper into bear market territory on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve's aggressive campaign against inflation could throw the U.S. economy into a sharp downturn.
After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average .DJIconfirmed it has been in a bear market since early January. The S&P 500 index .SPX confirmed in June it was in a bear market, and on Monday it ended the session below its mid-June closing low, extending this year's overall selloff.
With the Fed signaling last Wednesday that high interest rates could last through 2023, the S&P 500 has relinquished the last of its gains made in a summer rally.
"Investors are just throwing in the towel," said Jake Dollarhide, Chief Executive Officer of Longbow Asset Management in Tulsa, Oklahoma. "It's the uncertainty about the high-water mark for the Fed funds rate. Is it 4.6%, is it 5%? Is it sometime in 2023?"
Confidence among stock traders was also shaken by dramatic moves in the global foreign exchange market as sterling GBP=D3 hit an all-time low on worries that the new British government's fiscal plan released Friday threatened to stretch the country's finances. MKTS/GLOB
That added an extra layer of volatility to markets worried about a global recession amid decades-high inflation. The CBOE Volatility index .VIX, hovered near three-month highs.
The Dow is now down about 20% from its record high close on Jan. 4. According to a widely used definition, ending the session down 20% or more from its record high close confirms the Dow has been in a bear market since hitting its January peak.
According to preliminary data, the S&P 500 .SPX lost 37.24 points, or 1.01%, to end at 3,655.99 points, while the Nasdaq Composite .IXIC lost 65.39 points, or 0.60%, to 10,802.53. The Dow Jones Industrial Average .DJI fell 319.16 points, or 1.08%, to 29,271.25.
Gains in high-growth stocks including Amazon AMZN.O, Apple AAPL.O and Tesla TSLA.O helped limit losses in the Nasdaq.
Shares of casino operators Wynn Resorts WYNN.O, Las Vegas Sands Corp LVS.N and Melco Resorts & Entertainment MLCO.Ojumped between 12% and 30% for much of the session after Macau planned to open to mainland Chinese tour groups in November for the first time in almost three years.
Every S&P 500 stock's performance in 2022https://tmsnrt.rs/3rfOvaB
(Reporting by Shreyashi Sanyal and Ankika Biswas in Bengaluru; Editing by Anil D'Silva, Shounak Dasgupta and David Gregoro)
((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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Gains in high-growth stocks including Amazon AMZN.O, Apple AAPL.O and Tesla TSLA.O helped limit losses in the Nasdaq. By Noel Randewich and Shreyashi Sanyal Sept 26 (Reuters) - Wall Street slid deeper into bear market territory on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve's aggressive campaign against inflation could throw the U.S. economy into a sharp downturn. The S&P 500 index .SPX confirmed in June it was in a bear market, and on Monday it ended the session below its mid-June closing low, extending this year's overall selloff.
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Gains in high-growth stocks including Amazon AMZN.O, Apple AAPL.O and Tesla TSLA.O helped limit losses in the Nasdaq. After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average .DJIconfirmed it has been in a bear market since early January. According to a widely used definition, ending the session down 20% or more from its record high close confirms the Dow has been in a bear market since hitting its January peak.
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Gains in high-growth stocks including Amazon AMZN.O, Apple AAPL.O and Tesla TSLA.O helped limit losses in the Nasdaq. By Noel Randewich and Shreyashi Sanyal Sept 26 (Reuters) - Wall Street slid deeper into bear market territory on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve's aggressive campaign against inflation could throw the U.S. economy into a sharp downturn. After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average .DJIconfirmed it has been in a bear market since early January.
|
Gains in high-growth stocks including Amazon AMZN.O, Apple AAPL.O and Tesla TSLA.O helped limit losses in the Nasdaq. After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average .DJIconfirmed it has been in a bear market since early January. The S&P 500 index .SPX confirmed in June it was in a bear market, and on Monday it ended the session below its mid-June closing low, extending this year's overall selloff.
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19197.0
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2022-09-26 00:00:00 UTC
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US STOCKS-Nasdaq rises as battered growth stocks show recovery signs
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AAPL
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https://www.nasdaq.com/articles/us-stocks-nasdaq-rises-as-battered-growth-stocks-show-recovery-signs
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nan
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nan
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By Shreyashi Sanyal
Sept 26 (Reuters) - The Nasdaq index moved higher in early session on Monday as beaten-down growth stocks tried to stage a comeback from a steep selloff that was triggered by worries of a central bank-induced recession.
The benchmark S&P 500 index .SPXalso showed signs of steadying after briefly falling below its mid-June closing low of 3,666 on Friday that almost erased a sharp summer rebound.
Hints from the U.S. Federal Reserve that high interest rates could last through 2023 sent the three major stock indexes tumbling between 4% and 5% last week, with the Dow Jones index .DJI coming within spitting distance of a bear market in the previous session.
Sectors housing megacap growth companies, including technology .SPLRCT, consumer discretionary .SPLRCD and communication services .SPLRCL, led the gains.
Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Tesla Inc TSLA.Orose between 0.9% and 2.0%, boosting the Nasdaq index .IXIC.
"You're just seeing a relief rally after a very tough stretch of performance for the Nasdaq and growth stocks," said Jeffrey Schulze, investment strategist at ClearBridge Investments.
"You have obviously seen a lot of pain in the growth areas of the market over the course of the last month as investors reprice higher Fed funds rates and ultimately a terminal rate or this hiking cycle."
Shares of casino operators Wynn Resorts WYNN.O, Las Vegas Sands Corp LVS.N and Melco Resorts & Entertainment MLCO.O jumped between 11.6% and 30.4% after Macau planned to open to mainland Chinese tour groups in November for the first time in almost three years.
At 10:09 a.m. ET the Dow Jones Industrial Average .DJI was down 119.29 points, or 0.40%, at 29,471.12, the S&P 500 .SPX was up 3.43 points, or 0.09%, at 3,696.66 and the Nasdaq Composite .IXIC was up 103.91 points, or 0.96%, at 10,971.84.
Defensive parts of the market, including sectors such as the S&P 500 utilities .SPLRCU and real estate .SPLRCR, fell more than 1% each, suggesting a risk-on move.
Trading sentiment earlier in the day was dictated by dramatic moves in the global forex market as the sterling GBP=D3 briefly touched an all-time low on worries that the new British government's fiscal plan threatened to stretch the country's finances to their limits. MKTS/GLOB
The CBOE Volatility index .VIX, also commonly known as Wall Street's fear gauge, hovered near three month highs.
Declining issues outnumbered advancers for a 1.29-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 1.67-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and 37 new lows, while the Nasdaq recorded nine new highs and 183 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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Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Tesla Inc TSLA.Orose between 0.9% and 2.0%, boosting the Nasdaq index .IXIC. By Shreyashi Sanyal Sept 26 (Reuters) - The Nasdaq index moved higher in early session on Monday as beaten-down growth stocks tried to stage a comeback from a steep selloff that was triggered by worries of a central bank-induced recession. The benchmark S&P 500 index .SPXalso showed signs of steadying after briefly falling below its mid-June closing low of 3,666 on Friday that almost erased a sharp summer rebound.
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Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Tesla Inc TSLA.Orose between 0.9% and 2.0%, boosting the Nasdaq index .IXIC. By Shreyashi Sanyal Sept 26 (Reuters) - The Nasdaq index moved higher in early session on Monday as beaten-down growth stocks tried to stage a comeback from a steep selloff that was triggered by worries of a central bank-induced recession. Declining issues outnumbered advancers for a 1.29-to-1 ratio on the NYSE.
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Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Tesla Inc TSLA.Orose between 0.9% and 2.0%, boosting the Nasdaq index .IXIC. By Shreyashi Sanyal Sept 26 (Reuters) - The Nasdaq index moved higher in early session on Monday as beaten-down growth stocks tried to stage a comeback from a steep selloff that was triggered by worries of a central bank-induced recession. Hints from the U.S. Federal Reserve that high interest rates could last through 2023 sent the three major stock indexes tumbling between 4% and 5% last week, with the Dow Jones index .DJI coming within spitting distance of a bear market in the previous session.
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Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Tesla Inc TSLA.Orose between 0.9% and 2.0%, boosting the Nasdaq index .IXIC. By Shreyashi Sanyal Sept 26 (Reuters) - The Nasdaq index moved higher in early session on Monday as beaten-down growth stocks tried to stage a comeback from a steep selloff that was triggered by worries of a central bank-induced recession. Hints from the U.S. Federal Reserve that high interest rates could last through 2023 sent the three major stock indexes tumbling between 4% and 5% last week, with the Dow Jones index .DJI coming within spitting distance of a bear market in the previous session.
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19198.0
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2022-09-26 00:00:00 UTC
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V vs. MA vs. AAPL: Which Stock is Best for Fintech Exposure?
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AAPL
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https://www.nasdaq.com/articles/v-vs.-ma-vs.-aapl%3A-which-stock-is-best-for-fintech-exposure
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nan
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nan
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The fintech bubble may have burst as valuations in the tech scene fell back to Earth over the past year. With a recession on the horizon and higher interest rates likely to curb innovation spending, the road ahead seems extremely bumpy for the many ambitious fintech startups that strived to change the world. Instead, let's use TipRanks' Comparison Tool to evaluate three blue-chip behemoths that could take the fintech world by storm amid rising rates. Based on upside potential alone, MA stock looks the most promising.
Fintech hype got a bit ahead of itself last year, with firms like Block (NYSE: SQ) more than tripling since the start of the pandemic to its peak, only to crumble to depths not seen since the 2020 coronavirus crash. Though interest in investing in fintech may have dried up, I think the longer-term opportunity at hand is still in play.
In a post-2021 world with high interest rates, it's not the disruptive fintech startup that could take the financial world by storm. It's likely the well-established firms in the technology and financial industries. Indeed, various tech titans like Apple (NASDAQ: AAPL) have embraced finance and payments, with a slew of new services introduced over the past few years. Meanwhile, credit card behemoths like Visa (NYSE: V) and Mastercard (NYSE: MA) have also led the charge in fintech innovation.
With gushing cash flows and brilliant managers who know how to capture market share, it's the established blue chips that may be the new "hot" fintech stocks to own from here. As for the unprofitable fintech startups, many could struggle to cope with the harsher macro climate. Credit is about to get hard, and with a lack of profits, it could be challenging to stay on the cutting edge of financial innovation.
Now, without further ado, let's dive further into V, MA, and AAPL.
Visa (V)
Visa is a credit card company that we're all familiar with. It has a massive network that's proven tough to replicate. Despite recent headwinds, Visa's payments have held up far better than most would think. Visa's third-quarter numbers were much better than expected, with per-share earnings of $1.98, ahead of the $1.75 consensus estimate.
With a recession on the horizon, credit card payments could take a turn for the worst. Visa has been through recessions before, and they've been quite painful. Despite the headwinds, Visa looks poised to continue its growth. The company won't be sitting back, cutting away at costs, just hoping for the economic tides to turn. The company will be very busy enhancing its growth prospects as its smaller fintech peers crumble.
If anything, a recession may help Visa gain strides and market share in the payments scene. Now, Visa is already the payments leader. However, it can still claw back business from the BNPL (Buy Now Pay Later) firms that have since gone bust.
Visa has the network and an ever-increasing number of perks to beckon young consumers back to its ecosystem. Undoubtedly, Visa may have been seen as vulnerable to the rise of fintech firms in 2021. Now, it's Visa that looks far better than its peers, now that investors are re-focused on real profits and fundamentals and less on overly-ambitious growth stories.
What is the Price Target for V Stock?
Wall Street remains upbeat on Visa, with a "Strong Buy" consensus. The average V stock price target is $253.62, implying 40.4% upside potential. As fintech startups sink further with every rate hike, Visa stands to become that much more dominant in payments.
Mastercard (MA)
Mastercard is another credit card company that's embraced technology over the years. In prior pieces, I praised the company for its growth strategy outlined at its 2021 Investor Day meeting. Management is looking to invest big bucks in commerce, society, and technology. Investments in commerce appear to be investments in present-day fundamentals, while tech investments could be endeavors that beef up the firm's long-term share-taking capabilities.
Indeed, Mastercard's smaller fintech rivals have shown promise with their innovative capabilities. With rates rising, the case for owning such firms has lowered. Arguably, Mastercard has better innovative capabilities than the many "disruptive" fintech up-and-comers. Mastercard isn't just capable of disrupting its small "disruptors," but it's also able to leverage its massive network to kickstart growth in fintech innovations that a smaller competitor just cannot do.
At this juncture, Mastercard stands out as one of the better fintech plays for today's high-rate world. Even if rates come down in a few years, Mastercard may have already pulled far too ahead of the competition - if it hasn't already.
What is the Price Target for MA Stock?
For now, Mastercard is bracing for a downturn. Despite the tough road ahead, Wall Street continues to praise the stock, with a "Strong Buy" rating and with the average MA price target of $413.60 implying 42.6% upside potential.
Apple (AAPL)
Apple is a tech behemoth that's stealthily moved into the payment services space in recent years. The company's Apple Wallet and Apple Pay services have been embraced by its many consumers locked into its walled garden.
Though fintech services represent a relatively small slice of the overall revenue pie, Apple could be on the cusp of considerable share-taking in the payments space. The firm's "Pay in Four" installments business could easily pressure BNPL firms to their breaking point amid rising interest rates.
Further, Apple's "Tap to Pay" service could give it a huge growth runway in the point-of-sale (PoS) marketplace. Indeed, Apple seems to be going for digital and physical payments. With such a massive network of users at its side, Apple seems poised to become a fintech behemoth that's difficult to stack up against.
Apple's a disruptor at heart, and with rates on the rise, the company is in a great position to accelerate growth in the realm of fintech with its massive $48.2 billion cash hoard.
What is the Price Target for AAPL Stock?
Wall Street loves Apple, even in this bear market. The stock commands a "Strong Buy" consensus rating, with the average AAPL stock price target of $183.45 implying 21.7% upside potential.
Conclusion: An Opportunity in Fintech Awaits
The fintech bubble may have burst, but the long-term opportunity in the space is still up for grabs. As a recession and higher rates weigh heavily on smaller, less-profitable (or unprofitable) companies, I expect that blue-chip behemoths like Visa, Mastercard, and Apple will be ready to take share and make the most of the longer-lived fintech boom.
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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Indeed, various tech titans like Apple (NASDAQ: AAPL) have embraced finance and payments, with a slew of new services introduced over the past few years. Now, without further ado, let's dive further into V, MA, and AAPL. Apple (AAPL) Apple is a tech behemoth that's stealthily moved into the payment services space in recent years.
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The stock commands a "Strong Buy" consensus rating, with the average AAPL stock price target of $183.45 implying 21.7% upside potential. Indeed, various tech titans like Apple (NASDAQ: AAPL) have embraced finance and payments, with a slew of new services introduced over the past few years. Now, without further ado, let's dive further into V, MA, and AAPL.
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Indeed, various tech titans like Apple (NASDAQ: AAPL) have embraced finance and payments, with a slew of new services introduced over the past few years. Now, without further ado, let's dive further into V, MA, and AAPL. Apple (AAPL) Apple is a tech behemoth that's stealthily moved into the payment services space in recent years.
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Apple (AAPL) Apple is a tech behemoth that's stealthily moved into the payment services space in recent years. Indeed, various tech titans like Apple (NASDAQ: AAPL) have embraced finance and payments, with a slew of new services introduced over the past few years. Now, without further ado, let's dive further into V, MA, and AAPL.
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19199.0
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2022-09-26 00:00:00 UTC
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Apple (AAPL) Gains As Market Dips: What You Should Know
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AAPL
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https://www.nasdaq.com/articles/apple-aapl-gains-as-market-dips%3A-what-you-should-know-3
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nan
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nan
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Apple (AAPL) closed the most recent trading day at $150.77, moving +0.23% from the previous trading session. This change outpaced the S&P 500's 1.03% loss on the day. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Coming into today, shares of the maker of iPhones, iPads and other products had lost 8.06% in the past month. In that same time, the Computer and Technology sector lost 13.11%, while the S&P 500 lost 10.4%.
Investors will be hoping for strength from Apple as it approaches its next earnings release. The company is expected to report EPS of $1.25, up 0.81% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $88.09 billion, up 5.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.10 per share and revenue of $392.28 billion, which would represent changes of +8.73% and +7.23%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Apple is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 24.65. This valuation marks a premium compared to its industry's average Forward P/E of 6.21.
Also, we should mention that AAPL has a PEG ratio of 1.95. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Mini computers was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 236, putting it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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Apple Inc. (AAPL): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple (AAPL) closed the most recent trading day at $150.77, moving +0.23% from the previous trading session. Also, we should mention that AAPL has a PEG ratio of 1.95. Apple Inc. (AAPL): Free Stock Analysis Report
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Apple (AAPL) closed the most recent trading day at $150.77, moving +0.23% from the previous trading session. Also, we should mention that AAPL has a PEG ratio of 1.95. Apple Inc. (AAPL): Free Stock Analysis Report
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Apple (AAPL) closed the most recent trading day at $150.77, moving +0.23% from the previous trading session. Also, we should mention that AAPL has a PEG ratio of 1.95. Apple Inc. (AAPL): Free Stock Analysis Report
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Apple (AAPL) closed the most recent trading day at $150.77, moving +0.23% from the previous trading session. Also, we should mention that AAPL has a PEG ratio of 1.95. Apple Inc. (AAPL): Free Stock Analysis Report
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