Apple AAPL shares declined about 2% on Monday after Jefferies downgraded the stock, citing concerns that the company’s rumored all-glass iPhone project has been scrapped, raising fresh questions about its ability to drive higher-priced device sales amid rising component costs. Jefferies analyst Edison Lee lowered his rating on Apple to Underperform from Hold and reduced
Coca-Cola raised its annual revenue and profit forecasts on Tuesday. The company reported stronger-than-expected second-quarter earnings. Demand for its Zero Sugar beverages, Fairlife milk and premium products remained strong. This came despite an uncertain consumer spending environment. Shares of the beverage giant rose nearly 4% in premarket trading after the company posted quarterly results that
Corning stock plunged by over 12% in the premarket session after the company published the latest earnings report. GLW dropped by 12% to $122.92, its lowest level since March 9 this year. It has plunged by 54% from the year-to-date high of $271, with its valuation falling from $219 billion to $123 billion. Corning stock
Duolingo stock price has slumped this year as concerns about disruption by artificial intelligence tools and as investors watch its turnaround strategy. DUOL was trading at $132 after falling by 25% this year and 64% in the last 12 months. It has slumped by 75% from its all-time high, with its market capitalization falling from
Meta Platforms and asset manager BlackRock announced on Tuesday a venture to develop and operate a data center campus in El Paso, Texas. The project is expected to cost about $14 billion in development. The partnership comes as technology companies accelerate spending on artificial intelligence infrastructure. The growing scale of investment in AI data centers
US stocks opened lower on Tuesday, with the Nasdaq underperforming as renewed weakness in semiconductor stocks overshadowed gains in consumer-focused companies. Investors remained cautious ahead of quarterly earnings from several of the largest technology companies and the Federal Reserve’s interest rate decision later this week. The Nasdaq Composite fell about 0.67%, while the S&P 500
Spot gold and silver prices moved lower ahead of the North American market open on Tuesday. A firmer US dollar, elevated Treasury yields and caution ahead of this week’s Federal Reserve decision weighed on precious metals. At the time of writing, spot gold was trading near $4,031.00 an ounce. The metal was down 1.09% on
SpaceX (SPCX) shares extended their decline on Tuesday as investors continued to weigh the prospect of a wave of insider share sales ahead of the company’s first post-IPO lock-up expiration. The SpaceX stock fell more than 5% to around $107, well below its IPO price of $135. The broader market was mixed, with the S&P
SanDisk stock continued its strong retreat as investors continued selling memory shares. SNDK dropped to $1,204 in the premarket, reaching its lowest level since May 1. It has slumped by 45% from its all-time high, and the Wyckoff Theory suggests that it has more downside to go. SanDisk stock technicals point to a retreat SNDK
Microsoft stock has retreated sharply in the past few months, moving from a record high of $556 in October last year to $390. This retreat has pushed its market capitalization from over $3.89 trillion to $2.9 trillion today. This article highlights what to expect as its fourth-quarter earnings loom. Microsoft stock has dropped amid capex