Apple, Fortinet, Microchip Technology And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several US-listed companies including Apple, Fortinet, Microchip Technology, and others are experiencing a decline in their stock prices in Friday's pre-market session. This is due to various reasons such as weak sales outlook, downbeat quarterly results, and weak guidance.
August 04, 2023 | 3:02 pm
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NEGATIVE IMPACT
Apple's shares slipped 1.8% in pre-market trading despite reporting better-than-expected earnings for its third quarter. However, the company saw a decline in iPhone, Mac and iPad revenues.
Apple's stock is likely to go down in the short term due to the decline in revenues from its major products - iPhone, Mac and iPad.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Fortinet's shares tumbled 18.1% in pre-market trading following weak guidance.
Fortinet's stock is likely to go down in the short term due to the company's weak guidance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Microchip Technology's shares declined 5.2% in pre-market trading after the company reported first-quarter results.
Microchip Technology's stock is likely to go down in the short term due to the company's first-quarter results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100