Streetbeat News

AAPL

Apple Inc.

https://www.apple.com

Industry

Consumer Electronics

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod. It also provides AppleCare support and cloud services; and operates various platforms, including the App Store that allow customers to discover and download applications and digital content, such as books, music, video, games, and podcasts. In addition, the company offers various services, such as Apple Arcade, a game subscription service; Apple Fitness+, a personalized fitness service; Apple Music, which offers users a curated listening experience with on-demand radio stations; Apple News+, a subscription news and magazine service; Apple TV+, which offers exclusive original content; Apple Card, a co-branded credit card; and Apple Pay, a cashless payment service, as well as licenses its intellectual property. The company serves consumers, and small and mid-sized businesses; and the education, enterprise, and government markets. It distributes third-party applications for its products through the App Store. The company also sells its products through its retail and online stores, and direct sales force; and third-party cellular network carriers, wholesalers, retailers, and resellers. Apple Inc. was founded in 1976 and is headquartered in Cupertino, California.

Open

226.40

Mkt cap

3.4T

Volume

47M

High

226.92

P/E Ratio

37.07

52-wk high

237.49

Low

224.27

Div yield

0.00

52-wk low

164.08

Apple Inc. has acquired Canadian AI startup DarwinAI to bolster its artificial intelligence capabilities, focusing on generative AI and enhancing device performance. This move is part of Apple's broader strategy to integrate AI into its products, including iPhones and MacBooks, despite facing challenges in other tech ventures.

Portfolio Pulse from Rounak Jain

March 15, 2024 | 8:14 am

Peter Schiff expressed skepticism about the performance of high-profile stocks, specifically Tesla (TSLA) and Apple (AAPL), which are part of the 'Magnificent Seven.' He highlighted their declines as potential indicators of issues for the remaining five stocks in the group: Microsoft (MSFT), Nvidia (NVDA), Alphabet (GOOG/GOOGL), Amazon (AMZN), and Meta Platforms (META). Tesla's stock has significantly dropped, being the worst-performing stock in the S&P 500 year-to-date, while Apple's stock downturn is seen by some analysts as a buying opportunity due to its potential in the AI race.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 4:49 am

Ed Yardeni, a renowned economist, predicts a 26% increase in the S&P 500 by 2026, reaching 6,500. He maintains a year-end target of 5,400 for the S&P 500, considering it conservative. Yardeni's optimism is based on the market's improving breadth and high bullish sentiment among investors. He contrasts with technical analyst Milton Berg, who warns of a potential 60% market crash.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 4:09 am

Tesla Inc (TSLA) has become the worst-performing stock in the S&P 500 Index year-to-date in 2024, down 34.4%, amidst concerns of slower EV demand and production issues. Analysts have downgraded the stock and lowered price targets, with UBS cutting its price target from $225 to $165 and Wells Fargo from $200 to $125. The SPDR S&P 500 ETF Trust (SPY) is up 8.3% YTD, supported by the Magnificent 7 stocks, despite Tesla's underperformance. Other notable performers include Nvidia (NVDA) and Meta Platforms (META), with significant gains.

Portfolio Pulse from Chris Katje

March 14, 2024 | 8:02 pm

Apple Inc, along with its suppliers Taiwan Semiconductor Manufacturing Co (TSMC) and Murata Manufacturing Co, are increasing their investment in a green initiative to $280 million. TSMC and Murata are contributing $50 million and $30 million, respectively, to the Restore Fund, managed by Climate Asset Management. This fund aims to support carbon removal through nature-based solutions. Additionally, Apple is advancing its chip technology with TSMC's 2-nanometer fabrication process. Despite a downturn in the consumer electronics market, TSMC's stock rose 58% last year, outperforming Apple's 14% increase.

Portfolio Pulse from Anusuya Lahiri

March 14, 2024 | 7:18 pm

The 96th Academy Awards highlighted the integral role of music in cinema, with 'Oppenheimer' and 'Barbie' being notable winners. Universal Music Group and Sony Music Entertainment artists were among the winners and nominees, showcasing their influence in the industry. Apple's 'Killers of the Flower Moon' also received nominations. The MUSQ Global Music Industry ETF offers investment exposure to the music sector, including companies like Amazon, Apple, Sony, and Universal.

Portfolio Pulse from Melanie Schaffer

March 14, 2024 | 7:07 pm

A Reddit user, ConstantOne5578, analyzed Warren Buffett's decision not to sell Apple Inc (AAPL) shares despite market fluctuations and strategic shifts. The analysis highlights Buffett's long-term investment strategy and the significant tax implications of selling AAPL shares, which constitute over 80% of Berkshire's investment. Concerns about Apple's strategy, including its move towards ads and regulatory pressures, were also discussed. Other Reddit users contributed to the discussion, emphasizing Buffett's investment rationale and the importance of dividends, share buybacks, and stock appreciation.

Portfolio Pulse from Surbhi Jain

March 14, 2024 | 6:11 pm

Apple has acquired the AI startup DarwinAI, incorporating dozens of DarwinAI's staff into its AI division, as part of its efforts to enhance its AI capabilities and add new features.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 5:10 pm

The U.S. House of Representatives passed a bill requiring TikTok's parent company, ByteDance, to divest its holdings or face a U.S. ban. This could benefit rival social media platforms like Meta Platforms, Alphabet's YouTube, and Snap Inc, as TikTok users may migrate to these platforms. The bill now moves to the Senate, and if passed, ByteDance has five months to comply. The potential ban could remove TikTok from Apple and Alphabet's app stores, affecting future downloads and updates. Several members of Congress, who own stock in these social media companies, voted in favor of the bill, raising conflict of interest concerns.

Portfolio Pulse from Chris Katje

March 14, 2024 | 5:03 pm

The article discusses the current financial market trends, highlighting hotter Producer Price Index (PPI) data indicating higher inflation at the producer level than expected, and declining retail sales suggesting weakening consumer spending. It mentions the positive early trade money flows in several major tech companies and ETFs, while Tesla and NVIDIA experience negative flows. The International Energy Agency predicts an oil supply deficit throughout 2024, contrary to previous surplus expectations. The article advises investors to consider a more defensive position within the protection band to balance market crosscurrents.

Portfolio Pulse from The Arora Report

March 14, 2024 | 4:47 pm

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