|Bid||0.00 x 1100|
|Ask||65.65 x 1000|
|Day's Range||64.51 - 65.76|
|52 Week Range||60.97 - 76.27|
|PE Ratio (TTM)||21.63|
|Beta (3Y Monthly)||0.99|
|Expense Ratio (net)||0.13%|
Apple (AAPL) has been facing troubles in the fourth quarter due to factors ranging from reports of weakening new iPhone sales to fears about tariffs on its Chinese imports into the US. The company’s stock is approaching its six-month low again. Today around 10:30 AM EST, the stock posted a day low of $166.11, down 2.8% from its previous day’s closing price. This level was not far away from Apple’s six-month low of $163.33 posted on Monday this week.
The US-China trade war, primarily triggered by President Donald Trump imposing tariffs on Chinese imports, started getting ugly in the last few months. Investors watched President Trump and President Jinping’s meeting in Argentina earlier in December.
Apple (AAPL) is continuing to lose investors’ confidence in the fourth quarter. Apple stock has already fallen 24.3% sequentially as of December 13. Apple investors (XLK) are concerned about weak new iPhone sales and tariffs in the fourth quarter. On December 14 at 10:10 AM EST, Apple stock fell 2.2% from the previous session’s closing price.
Given the recovering sentiments and a bullish holiday outlook, the tech sector appears as a compelling last-minute investment. As such, we have highlighted a few beaten-down tech ETFs that could see surge this Christmas.
As reported by Bloomberg, Citigroup economists think that the damage to the Chinese economy is already done. In the 2019 economic outlook report, Citigroup economists, led by Liu Li-Gang, gave several reasons for the argument. The economists estimate that the ongoing trade war could cut China’s export growth by almost half in 2019, which would put ~4.4 million jobs at risk.
BlackBerry (BB) has also been affected with its stock slipping by a significant 31% since October. BlackBerry’s upcoming earnings will thus be critical, as any deviation from the average estimates could result in a further price correction. Analysts expect BlackBerry to post revenues of $214.38 million in the third quarter of fiscal 2019 (year ending in February), an 8.8% fall year-over-year compared to $235 million in the third quarter of fiscal 2018.
The tech sector saw another day of market correction on December 7. The Technology Select Sector SPDR ETF (XLK) fell 3.5%, while the VanEck Vectors Semiconductor ETF (SMH) fell 3.8% on the day.
The retail and technology sectors flashed bearish “death cross” chart patterns Friday, joining a host of other sectors and broad-market indexes, to suggest the recent run of volatility could last a while longer.
To help investors keep up with the markets, we present our ETF Scorecard. The Scorecard takes a step back and looks at how various asset classes across the globe are performing. The weekly performance is from last Friday’s open to this week’s Thursday close.
In a note published last week, Bank of America Merrill Lynch equity and quantitative strategist Savita Subramanian said, “We believe the peak in equities is likely before the end of 2019.” She expects equities to slow down next year as credit conditions tighten and earnings growth slows. As the Fed keeps tightening monetary conditions, equities (QQQ) (IVV), which are now accustomed to easy money, will find themselves in a difficult situation.
During trading hours of Nov 26, Microsoft surpassed Apple to become the most-valuable publicly traded company, putting the related ETFs in focus.
The last two months have been volatile for the markets. The broader indexes saw red on November 19 driven by a sell-off in the technology sector.
U.S. stock benchmarks staged a powerful rebound to end Monday trade following the worst Thanksgiving week performance since 2011. The Dow Jones Industrial Average closed with a gain of about 354 points, or 1.5%, at 24,640, the S&P 500 index gained 1.6% at 2,673, powered by gains in the technology sector and consumer discretionary , which finished with gains of at least 2.3%. All three equity benchmarks booked their best daily climb since Nov. 7. The Nasdaq Composite Index finished up 2.1% at 7,081. Among the biggest movers on the day were shares of Amazon.com Inc. , which benefited from reports of strong sales on one of the best days for online retailers in the year. Amazon's shares closed 5.3% higher, marking their sharpest daily climb since a 6.9% gain on Nov. 7. Another support for the broader market was gains in crude-oil futures after a rout on Friday triggered fresh worries about global growth slowing. Separately, shares of General Motors were in focus after the automaker said it was slashing 15% of its North American workforce. GM's stock gained 4.8% on the day.
The U.S. equity rally is beginning to lose steam and investors should not expect markets to maintain their breakneck spurt of yesteryear. Nevertheless, traders may still find value in some battered sectors ...
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