Apple Inc has acquired Mira, a Los Angeles-based AR startup that makes headsets for other companies and the U.S. military, the Verge reported, citing a post from Mira CEO's private Instagram account on Monday and a person familiar with the matter.
U.S. stocks were wavering on Tuesday despite some advances in economically sensitive sectors, as investors awaited inflation data and the Federal Reserve's policy meet next week.
2023 has been one of the most divergent and lopsided years in recent memory in equities markets. After value dominated 2022, tech is back to being king this year - bolstered by the AI revolution and big forward expectations in AI-
The S&P 500 and Nasdaq rose on Tuesday as banks led a rally in economically sensitive sectors, while investors awaited inflation data and the Federal Reserve's policy meet next week.
Apple AAPL is finally joining the mixed reality bandwagon with the launch of Apple Vision Pro, “a revolutionary spatial computer that seamlessly blends digital content with the physical world,” at this year’s Worldwide Developer’s
App developers will be able to use Unity Software's (NYSE: U) tools to create immersive applications for Apple's (NASDAQ: AAPL) new visual computing headset, the Vision Pro. Could this be a massive win for Unity stock investors? Check out the short video to learn more, consider s
The advent of digital payment apps has changed the face of traditional finance. Once the domain of cash, checks, and credit and debit cards, a growing number of consumers are foregoing legacy payment methods in favor of these newer, digital counterparts.
Growth stocks aren't boosting investors' returns at the rate they were a few years ago, but it's not all doom and gloom. Great businesses continue to thrive in what is arguably an uncertain macroeconomic environment that has investors divided about what to do with their money.
Analysts lauded Apple's Vision Pro on Tuesday for its impressive technology, but warned that it will be a few years before the $3,499 augmented reality headset sees widespread adoption.
Wall Street's main indexes slipped on Tuesday as investors assessed odds of an interest rate pause by the Federal Reserve at its policy meeting next week, with mixed economic data adding to uncertainty around the rate path.
At its Worldwide Developers Conference, Apple AAPL debuted a host of new Macs, including a MacBook Air 15-inch, Mac Studio and Mac Pro. The tech titan also entered into the augmented reality (AR) market with its most-awaited first
In this video, I will talk about Apple's (NASDAQ: AAPL) newly announced Vision Pro augmented reality (AR) headset and why despite all the noise, this is actually a good thing for Meta Platforms and its Quest line, especially the Quest 3, which will be released later this year.
Below is Validea's guru fundamental report for APPLE INC (AAPL). Of the 22 guru strategies we follow, AAPL rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum an
After a brutal 2022, the stock market is roaring in 2023, with the Nasdaq Composite up 26% and the S&P 500 up 11% year to date (YTD) at the time of this writing. Yet dig deeper and you'll find some peculiar price action in many well-known names.Six of the 30 components of the
Wall Street's main indexes were set for a subdued open on Tuesday as investors assessed chances of the Federal Reserve holding interest rate at its meeting next week, with mixed data adding to uncertainty around the policy outlook.
Apple's (NASDAQ: AAPL) upcoming product, the first new device category launch since the Apple Watch was announced in 2014, was no closely held secret. Rumors have been abundant about development of a virtual reality (VR) or mixed reality headset -- a medium that would bring users
Tech stocks rebounded, delivering stellar gains so far this year. For instance, shares of big tech giants like Apple (
NASDAQ:AAPL
), Microsoft (
NASDAQ:MSFT
), Alphabet (
NASDAQ:GOOGL
)(
NASDAQ:GOOG
), Amazon (
NASDAQ:AMZN
), Meta (
NASDAQ:META
), and Nvidia (
NASDAQ:NVDA
) have defied the weak general market trend and are up about 39%, 41%, 43%, 49%, 126%, and 168%, respectively, on a year-to-date basis. While the rally reflects equity investors’ buoyant mood on tech stocks, Morgan Stanley’s strategist Mike Wilson anticipates the possibility of a downturn or a correction in the technology sector.
Tech Stocks - The Recent Past and Near Future
Contrary to the fears of a recession gripping the market in 2023, the economy has proven to be less severe than anticipated. Although the market still exhibits weakness, the expectations of easing monetary policy due to the moderation in the inflation rate, the lower valuation of tech stocks at the start of 2022, and the concerted efforts of these companies to implement cost-cutting measures have all contributed to a revival in their stock prices.
Thanks to this recovery, the NASDAQ 100 Index (
NDX
), which is primarily focused on tech companies, has gained over 33% year-to-date and handily surpassed the S&P 500 (
SPX
).
Adding to the growth of these tech stocks is the evolution of
AI (Artificial Intelligence). Investors have been bullish about anything and everything related to AI. Interestingly, not only individual stocks but
tech and AI-focussed ETFs (
Exchange-Traded funds) have also seen
large inflows of cash.
While investors’ sentiment has largely been positive, Wilson maintains a bearish tone. Back in April, Wilson warned that tech stocks would not be able to sustain their recent gains. More recently, the U.S. equity strategist said that a decline in corporate earnings would lead to a correction in stocks. He expects a disappointing performance in the second-half earnings of U.S. corporations, leading to a selloff in equities.
While Wilson reiterated his bearish call on tech stocks and the broader market, let’s check out what’s on the horizon for these tech giants.
The Upside Potential Remains Low
TipRanks’
Stock Comparison tool shows that the
Top Wall Street analysts are bullish about these tech stocks. All of these stocks, except for Apple, command a Strong Buy consensus rating on TipRanks. However, the upside in the shares of these companies based on analysts’ average price targets shows limited upside potential.
Nvidia, which has gained the most among these companies, is the only stock offering double-digit upside potential based on the average price target.
Moreover, investors should note that NVDA, AAPL, and MSFT stocks have recouped all of their post-pandemic losses and are trading near their all-time highs. Meanwhile, Alphabet stock has recovered most of its lost ground and has significantly outperformed the broader markets.
However, Amazon and Meta stocks have lagged the S&P 500 index over the 5-year period and are yet to recover most of their pandemic gains.
Bottom Line
The recent rally and macro uncertainty could limit the upside in tech stocks in the near term. Analysts’ average price targets also substantiate this view. While most of these stocks carry a Strong Buy consensus rating, only Apple and Nvidia stocks have the
“Perfect 10” Smart Score.
However, NVDA, with a Strong Buy consensus rating and a Perfect 10 Smart Score, appeals the most, based on TipRanks’ valuable datasets and tools.
The
chip company has benefitted a lot from the rise of generative AI and its
dominant position in that space. NVDA is poised to deliver solid growth on the back of solid demand for its AI chips. Meanwhile, autonomous driving and high-end infotainment could further support growth in the auto segment, noted
Christopher Rolland of Susquehanna.
The recent surge in NVDA stock has driven its valuation higher. However, the analyst believes that its premium valuation is warranted as NVDA is well-positioned to capitalize on its growing end markets.
Disclosure
It finally happened: After years of rumors, Apple (NASDAQ: AAPL) unveiled what it calls the Apple Vision Pro, arguably the company's most ambitious product since the iPhone transformed it into the multitrillion-dollar goliath it is today.
(RTTNews) - Apple has unveiled a bunch of new products for its customers including its first spatial computer Vision Pro Headset. The tech major has also introduced iOS 17, 15-inch MacBook Air, iPadOS 17, TvOS 17 For Apple TV, WatchOS 10 For Apple Watch, New Mac Studio, Mac Pro,
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