|Bid||310.31 x 800|
|Ask||310.38 x 800|
|Day's Range||305.89 - 311.76|
|52 Week Range||153.66 - 323.33|
|Beta (5Y Monthly)||1.24|
|PE Ratio (TTM)||26.14|
|Earnings Date||Jan 27, 2020|
|Forward Dividend & Yield||3.08 (0.97%)|
|Ex-Dividend Date||Nov 06, 2019|
|1y Target Est||294.78|
The Dow Jones Industrial Average is trading well off Monday's session low amid concern over how coronavirus will affect the Chinese economy. Apple is down.
Wall Street's main indexes fell more than 1% on Monday as investors worried about the economic fallout of a virus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. The benchmark S&P 500 was jolted off record highs last week as China locked down several cities and curbed travel, reminding investors of the deadly SARS virus that killed nearly 800 people in 2002-03 and cost the global economy billions. Travel-related stocks, including airlines, casinos and hotels, were the worst-hit on Wall Street, while shares of sectors exposed to China's growth, including technology, materials and energy, pressured the markets.
With probes of Alphabet Inc's Google and other major platforms underway, the U.S. Justice Department's Antitrust Division is hiring both to bulk up for the big tech probes and to replace people who left, according to two Justice Department officials with knowledge of the matter. The posting includes a link to the agency's press release announcing the probes. Big tech companies like Facebook Inc, Google, Amazon.com Inc and Apple Inc face a slew of antitrust probes by the federal government, state attorneys general and Congress.
Apple stock has more than doubled since the beginning of 2019, rallying about 10% already in 2020. The stock has appreciated 32% since the last earnings report.
(Bloomberg Opinion) -- How long should a manufacturer be responsible for maintaining support for legacy products? Consumer devices have increasingly become smart and connected, only to later be abandoned by the manufacturer. Smart suitcases have turned dumb, talking toys gone mute, and wireless security cameras bricked into paperweights. Most recently, Sonos got a lot of grief for announcing that older versions of their smart home speakers would soon lose access to services and functionality. Customers complained that they had spent thousands on their audio systems, with some products still on the market as recently as 2015.A hardware device is a one-time purchase, while software updates require continuous labor. As technology improves and devices last longer, the initial manufacturing cost may end up being a small proportion of the total lifetime cost of production. Many manufacturers have shifted to business models that treat the device sale as a loss leader for future revenue streams. Amazon can afford to underprice the Echo because it enables consumers to buy more stuff from Amazon, Google and Spotify teamed up to give away Google Home Minis, and even Apple recently lowered prices on its iPhones to grow a user base for its subscription services.At the more controversial end of the spectrum, companies like John Deere have used the Digital Millenium Copyright Act to legally prevent users from repairing their own equipment, forcing their customers to continue paying into a lucrative repair market.Sonos boxed itself into a corner early on by promising customers free software updates for life. As CEO Patrick Spence testified at a Congressional hearing earlier this month, “Our business model is simple — we sell products which people pay for once, and we make them better over time with software updates.”The company is in a particularly difficult position because Sonos began as a home audio company before the advent of smart home assistants. Its earliest speakers weren’t designed with the processing power and storage required to take advantage of today’s features. To minimize complexity, Sonos designed its audio system so that all devices in a home network would share the same software. Once one product is no longer eligible for updates, the whole setup would stop receiving updates. Sonos customers lodged public complaints and bullied the company into submission. Sonos promised to keep the updates coming.A better long-term solution for the company might be found by looking to a different coalition of rebellious customers: a group that has been quietly reverse-engineering their speakers to liberate them from the company’s software entirely. It’s not an easy task. A Sonos speaker integrates a speaker and a microprocessor running a proprietary operating system. In order to jailbreak the speaker, a user must gain access to the internal hardware and install their own software.It would no doubt please these customers were Sonos to make their legacy speakers open source. Sonos has already indicated that the company can remotely erase the software; it could similarly perform a remote reinstallation of an open-source operating system like Linux or Android. The company’s tech-savvy fans could then continue to improve the software — which could be downloaded by other users — while Sonos focuses on its core competency of manufacturing high-end speakers.In the future, device manufacturers may be less generous about promising a lifetime of free software support. After all, most technological improvements these days are done in software. When it comes to cars, the internal combustion engine hasn’t changed much since fuel injectors were introduced in the 1980s. The performance improvements seen in recent decades have come from better sensors and smarter software to interpret sensor data.Autonomous vehicles will have an even tougher sell, as it’s inevitable that self-driving technology will continue to improve after initial release. Will further updates be free, or will the vehicle manufacturer hold consumer safety for ransom?While it’s easy to insist that customers should have free access to software updates running on devices they rightfully own, it’s hard to reconcile a sustainable business model with a lifetime of free software. A device that requires a paid subscription or leaves software updates as an exercise for the customer is better than one that turns into a brick.To contact the author of this story: Elaine Ou at email@example.comTo contact the editor responsible for this story: Sarah Green Carmichael at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Elaine Ou is a Bloomberg Opinion columnist. She is a blockchain engineer at Global Financial Access in San Francisco. Previously she was a lecturer in the electrical and information engineering department at the University of Sydney.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Wall Street's main indexes fell more than 1% on Monday as investors worried about the economic fallout of a virus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. The benchmark S&P 500 was jolted off record highs last week as China locked down several cities and curbed travel, reminding investors of the deadly SARS virus that killed nearly 800 people in 2002-03 and cost the global economy billions. Travel-related stocks, including airlines, casinos and hotels, were the worst-hit on Wall Street, while shares of tech heavyweights that enjoyed a strong rally recently dragged markets lower.
Analysts raising estimates right before earnings - with the most up-to-date information possible - is a pretty good indicator for the stock.
The S&P 500 could see a pullback of as much as 5%—and it won’t be because of the coronavirus or rising tensions with Iran, a market strategist warns.
CNBC host Jim Cramer talked about Monday’s sharp selloff in the stock market, which is shaping up to be the worst we’ve seen in several months amid mounting fears of the spread of the coronavirus.
With Apple shares up 96% over the last 12 months, investors are expecting big things from Apple’s latest earnings report. Why that creates risk for the stock.
J.P. Morgan has told its clients to do something that is both unusual and rare: Hedge Apple stock ahead of its Tuesday earnings report.
DEEP DIVE The five biggest U.S. tech companies will report their quarterly results over the next week. The group, led by Apple (AAPL) has propelled the stock market over the past year. Let’s see how some of their numbers compare heading into Tuesday, when Apple kicks off the round of earnings reports.
The FAANG stocks have been outperforming the market over the past three months buoyed by the initial U.S.-China trade deal. Hopes of better-than-expected earnings releases are also adding to the strength.
U.S. stocks fell more than 1% on Monday as investors worried about the economic fallout of the fast-spreading coronavirus outbreak in China that has prompted the country to extend the Lunar New Year holidays and businesses to close some operations. The benchmark S&P 500 was jolted off record highs last week as China locked down several cities and curbed travel, reminding investors of the deadly SARS virus that killed nearly 800 people in 2002-03 and cost the global economy billions. Travel-related stocks, including airlines, casinos and hotels, were the worst-hit on Wall Street, while shares of tech heavyweights that enjoyed a strong rally recently dragged markets lower.
U.S. stocks slumped as investors evaluate the latest news about China’s coronavirus outbreak. Haven investments such as gold are getting a boost.
The major stock indexes were sharply lower early Monday amid a spreading coronavirus. Apple headlines these five giants reporting earnings this week.
It’s also surprising that just when a lot of people thought China would leave the front pages with the trade deal, another China issue starts ganging up on stocks and sending investors back into caution mode. By the way, most Asian markets, including in China, are closed today for the Lunar New Year.
U.S. stock indexes were set to open more than 1% lower on Monday on concerns about the financial fallout of a fast-spreading coronavirus outbreak in China as the country extended the Lunar New Year holidays and businesses shut down some operations. Travel-related stocks, including airlines, casinos and hotels, were the worst-hit in premarket trading, with several cities in China in lockdown for contagion fears and new cases being reported from across the world. Wynn Resorts Ltd, Melco Resorts & Entertainment Ltd and Las Vegas Sands Corp, which have large operations in China, were down between 6% and 8%.
(Bloomberg Opinion) -- The most recent retail sales data provides a glimpse into the mind of the U.S. consumer.The latest monthly retail sales report from the U.S. Census Bureau recorded December sales (excluding gasoline, automobiles and restaurants) of $384.6 billion. Compared with the prior year’s $ 360.5 billion, that’s a solid year-over-year gain of 6.7%. Sales in November 2019 were $330.2 billion for a 1.1% gain over 2018’s $325.9 billion. Average these two-monthly totals and you get a 4.1% year over year gain for the holiday-shopping period.Those are strong numbers. Delving deeper reveals several interesting data points:\-- consumer sentiment has fully recovered from the lows after the financial crisis and is back to levels that prevailed in mid-2000s;\-- sentiment is still below the frothy dot-com peak of the late 1990s, suggesting that consumers are confident about the future but not in a reckless or unsustainable way;\-- consumer debt relative to disposable income remains at the lowest level in at least four decades, indicating that there's room for them to spend more:These three data points suggest that the next few quarters of gross domestic product growth, retail sales and durable goods orders are likely to be robust.In the typical election year, these economic positives tend to benefit the White House incumbent. I will let others debate whether this is a typical election year.Two other interesting issues worth mentioning: Online sales measured by point-of-sale credit-card transactions from MasterCard’s SpendingPulse showed that e-commerce in 2019 reached all-time highs. E-commerce now accounts for 14% of U.S. retail sales and likely will continue to claim a growing piece of the pie. Worldwide, online sales have nearly tripled during the past five years from $1.3 trillion in 2014 to more than $3.5 trillion in 2019, according to Statista. Projections are for this to more than double during the next five years.One surprise from the MasterCard data is that online shopping is accelerating, rising 18.8% last year compared with 2018’s 18.4%. There are few signs online retail is slowing. If anything, the generation that grew up online doesn't think of e-commerce as anything special; it's simply retail.One other observation: Perhaps the most intriguing online retail outlet is Instagram’s Checkout. It was named 2019’s Technology of the Year by Mobile Marketer. Fashion site Glossy describes Instagram as the next big sales channel “for direct-to-consumer companies and traditional retailers alike.”More than just promoting a brand or product, Instagram is facilitating the sale of products directly to consumers. The company takes its slice of the transaction. Combine this with the lethally accurate algorithms deployed by parent company Facebook Inc. and you can imagine the sort of sales growth that might lie ahead.To give you an idea of the size of this marketplace, Instagram has more than 1 billion accounts active each month worldwide (Facebook has 2.45 billion active users). Most of them have some form of payment system, including credit cards, Venmo, PayPal or Apple Pay.So far, Instagram Checkout has been rolled out slowly since the platform introduced it in March. It has been testing product tags in posts since 2016. Again according to Glossy, tags came to “Instagram Stories” about two years later. The fashion site, quoting Instagram, reports that 130 million people tap a product tag to shop or see a price every month. Instagram is native to mobile, which is where the new generation of consumers spend most of their connected time. Although Instagram hasn't made a big splash in online retailing yet, the potential is there.To be sure, there are some inklings of problems with counterfeit goods. This has been an issue that has haunted both Amazon.com Inc. and eBay Inc. If Instagram wants to become a serious player in retail, it needs to nip this in the bud.Disruption doesn't sleep. Don’t be surprised if the incumbent stars of e-commerce -- the leading members of the last generation of disruptive technologies — become the new victims of creative destruction.The relative health of the American consumer makes the disruption all the more likely — and sooner rather than later.To contact the author of this story: Barry Ritholtz at email@example.comTo contact the editor responsible for this story: James Greiff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Consider that The Oracle is currently 89 years old - and that he made his single best portfolio investment in over a half century at 87 years old!
Apple stock is slipping on Monday but reports earnings on Tuesday after the bell. What should investors do? The charts give clues.