Investors seem to be wagering on a bullish 2019. The overall stock market continued to rise this week, adding to last week's nearly 2% gain for the S&P 500. More gains this week puts the index up about 3.6%.
Looking beyond the market's trend for the week, there were some interesting stories in tech worth reviewing.
- Notable rumors surfaced on Apple's (NASDAQ: AAPL) plans for its iPhones in 2019.
- Walt Disney (NYSE: DIS) CEO Bob Iger shared some insight into the company's content strategy for its upcoming direct-to-consumer streaming service.
- Twitter (NYSE: TWTR) stock received a $39 price target.
Apple marketing chief Phil Schiller reveals the iPhone XR. Image source: Apple.
Apple's iPhone business has been the primary subject of most headlines about the company so far in 2019 -- and not for a good reason. The stock was slammed last week when Apple CEO Tim Cook said its revenue for its important first quarter of fiscal 2019 would come in about $5 billion below the low end of management's previous forecast for the quarter. Worse than expected iPhone sales in Greater China were the primary reason for the shortfall, the CEO said.
iPhone news continued to steal the show for Apple this week. But this time it was regarding rumors about the company's plans for upcoming iPhones. In 2019, the tech giant is aiming to launch three new iPhones, including an iPhone XR successor, said The Wall Street Journal. The highest-end version of these three models will likely have a triple rear camera, the Journal said, citing "people familiar with the matter."
Quality content first
For Disney investors, 2019 is the year of the company's new Disney-branded streaming service. The media giant is aiming to launch its new service sometime in the second half of the year.
As the long-awaited service's launch draws closer, Disney CEO Bob Iger is giving investors a better idea of what to expect. This week's interesting nugget on the service is how Disney is prioritizing quality content over subscription member metrics.
"The most important thing for [Disney] executives is that they create great content for this platform. And I will know whether they have," Iger said in an interview with Barron's. "Instead of setting numerical targets, you set different kind of targets. ... Initially it needs to be -- I need everyone to step up and make more great stuff."
Time to buy Twitter stock?
Meanwhile, two analysts upgraded Twitter stock this week.
The social network is seeing improving engagement from the 18-to-29 demographic, according to Merrill Lynch. In addition, Twitter has more room to grow its average revenue per user than Facebook, the firm said. Merrill Lynch upgraded the stock to "buy" from "neutral" and increased its 12-month price target for shares to $39 from $31.
Investors will get an opportunity to do some of their own due diligence on the stock when Twitter reports its fourth-quarter results on Feb. 7.
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Daniel Sparks owns shares of Apple and Walt Disney. The Motley Fool owns shares of and recommends Apple, Facebook, Twitter, and Walt Disney. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy.