The digitization of the global economy is here, and the COVID-19 pandemic has only accelerated the trend. One insurer is looking to capitalize by offering "lifestyle products" for the connected world, focusing on different coverage options such as mobile device extended warrantie
Yesterday, Apple (AAPL) hit a new all-time high. This morning, the stock is once again indicating a higher opening and looks like setting another record during today’s session. And yet, even at these levels, AAPL is still undervalued.
Wall Street's main indexes were set to rise on Wednesday after comments from the Federal Reserve fueled hopes the central bank would stick to its accommodative monetary policy despite a sharp jump in inflation last month.
Technology stocks were climbing in Wednesday's premarket trading. The Technology Select Sector SPDR ETF (XLK) was advancing by 0.84%, and the Semiconductor Sector Index Fund (SOXX) was 0.85% higher recently.
The NASDAQ 100 Pre-Market Indicator is up 96.09 to 14,970.63. The total Pre-Market volume is currently 20,447,767 shares traded.The following are the most active stocks for the pre-market session: Ashford Hospitality Trust Inc (AHT) is +0.13 at $2.07, with 2,116,569 shares trade
Technology needs are rapidly changing in the wake of the pandemic. New challenges like remote workforces, talent shortages, and an accelerated need to build more digital-first systems have many organizations scrambling to update their operations. Artificial intelligence software
U.S. stock index futures edged higher on Wednesday helped by a rise in mega-cap technology stocks, as investors awaited Federal Reserve chair Jerome Powell's testimony and more earnings reports from big banks poured in.
Taiwan's Pou Chen Corp, which makes footwear for companies such as Nike and Adidas, suspended operations at its plant in Ho Chi Minh City on Wednesday as COVID-19 curbs hit factories in the country's business hub.
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Robinhood has brought millions of new people into the world of investing. The commission-free trading platform's users have also emerged as a market-moving force in their own right, and some stocks favored by the its members have posted explosive gains in relatively short periods
Apple (AAPL) is expected to launch its 2021 iPhone models in September as opposed to last year’s October launch, as the supply chain recovers, according to a Bloomberg report. The global chip shortage is not expected to affect iPhone production.
Apple anticipates strong demand for its new iPhones. It has asked its suppliers to produce as many as 90 million units of the 2021 iPhones, Bloomberg reports. That would represent a 20% increase from about 75 million units produced in recent years. The upcoming models will be the first new iPhones to hit the market since the COVID-19 vaccine rollout began. (See Apple stock charts on TipRanks).
Apple’s 2021 iPhone models are expected to come with an improved processor, display, and camera. The camera upgrade is expected to focus more on video recording features and a possible reduction in the size of the front-facing camera. Some models may include technology that improves power efficiency.
In addition to feature improvements potentially driving increased demand, Apple’s larger initial shipment order may also be in the hope of benefiting from Huawei’s woes in the smartphone market, according to the report.
On Monday, Bank of America analyst Wamsi Mohan reiterated a Hold rating on Apple stock with a price target of $160. Mohan’s price target suggests 9.86% upside potential. The analyst noted a slowdown in Apple’s App Store growth. App Store revenue grew about 17% year-over-year in June 2021, marking a sharp deceleration from 37% growth in June 2020.
Consensus among analysts is a Moderate Buy based on 20 Buys, 5 Holds, and 2 Sells. The average Apple price target of $158.27 implies 8.67% upside potential to current levels.
U.S. sportswear maker Nike on Wednesday lost its fight to stop a probe into its Dutch tax affairs, as Europe's second-highest court backed an EU investigation opened two years ago.
Technology giant Apple Inc. (AAPL) is in the process of launching a new Buy Now, Pay Later (BNPL) plan for purchases made through its Apple Pay services, according to Bloomberg. Shares hit a record high of $147.46 on the news and closed the day up 0.8% at $145.64 on July 13. (See Apple stock charts on TipRanks)
Bloomberg reports that the new service will allow customers to pay for their purchases with four interest-free installments, or split the payments across several months with interest. The service will be available in both online and retail stores.
Goldman Sachs Group, Inc. (GS), which has been Apple’s partner since 2019 for its Apple Cards, will act as the loan lender for the new service.
Apple receives a percentage from purchases made on Apple Pay, and the new service will potentially enhance its revenue.
The company already has Apple Cards in place to make purchases on its Apple Pay service, but the BNPL service will enable customers to use any cards for making payments towards the installments.
The news of Apple entering the BNPL market has already made existing players like Affirm Holdings Inc. (AFRM - down 10.5%) and Australia-based Afterpay Touch Group Ltd (AFTPF - down 6.3%) concerned for their growth prospects and sent their shares spiraling down on July 13.
Recently, BofA Securities analyst Wamsi Mohan maintained a Hold rating on the stock with a price target of $160, implying 9.9% upside potential.
Mohan is apprehensive about Apple’s growth prospects as third-quarter year-over-year app store revenues showed a lower growth rate compared to the growth rate witnessed in 2020.
The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 20 Buys, 5 Holds, and 2 Sells. The average Apple price target of $158.27 implies 8.7% upside potential to current levels. Shares have gained 50% over the past year.
Australian shares closed higher on Wednesday, outweighing any investor concerns after a lockdown was extended in the country's most populous city, with heavyweight gold miners helping offset turmoil in the buy-now, pay-later sector.
Apple Inc is working on a service that will let users pay for any Apple Pay purchase in instalments, Bloomberg News reported on Tuesday, sending shares of Afterpay and other 'buy now, pay later' (BNPL) companies sharply lower.
Australian shares rose on Wednesday as miners and energy stocks advanced, while a slump in buy-now-pay-later giant Afterpay Ltd and other technology stocks capped gains.
The stock market fell on Tuesday, as investors started to react negatively to sustained inflationary pressure. By the close, the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were modestly off their record levels, and the Dow Jones Industrial Average (DJ
What happened
Shares of Affirm Holding (NASDAQ: AFRM) tumbled today on news that Apple (NASDAQ: AAPL) was launching a rival "buy now, pay later" (BNPL) service. According to Bloomberg, Apple will be partnering with Goldman Sachs on the project, currently known as Apple Pay Later.