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278 stories mentioning Apple Inc.Updated just now

Apple edged higher premarket among Wallstreetbets favorites as the Nasdaq Composite pulled back to a five-week low amid a broad tech selloff.

Asia Markets

US Equity Indexes Slip as Investors Await Fate of Iran Peace Talks in Pakistan

US equity indexes gave up intraday gains as crude oil futures gathered momentum after midday Tuesday, amid a fast-approaching deadline for Washington and Tehran to find a deal in the second round of talks in Pakistan.The Nasdaq Composite fell 0.3% to 24,339.8, with the S&P 500 down 0.3% to 7,087.2 and the Dow Jones Industrial Average lower by 0.2% to 49,370.3. All three gauges traded higher earlier in the session alongside corporate results.All sectors except consumer discretionary and energy fell, with real estate and industrials leading the decliners.President Donald Trump told CNBC on Tuesday that he expects the US and Iran to make a "great deal," referring to the proposed second round of talks in Islamabad that Iran has yet to confirm it will attend. The president added, however, that the US military is "ready" to bomb Iran if a deal is not signed by the ceasefire deadline late Wednesday and that he does not want to extend it.Iran has told regional mediators it would send a negotiating team to Islamabad on Tuesday, people familiar with the matter told The Wall Street Journal. But Tehran hasn't publicly confirmed it will send representatives, and Iran's top negotiator said, "We do not accept negotiations under the shadow of threats."West Texas Intermediate crude oil futures climbed 4.3% to $93.50, and Brent crude futures advanced 2.8% to $98.17.Most US Treasury yields rose, with the 10-year up 4.8 basis points to 4.3% and the two-year climbing 6.5 basis points to 3.78%.Gold futures declined 1.1% to $4,775.6 and silver futures dropped 2.4% to $78.15.In economic news, US retail sales rose 1.7% in March, above the 1.4% increase expected in a Bloomberg-compiled survey and following the previous month's revised 0.7% gain. Removing both motor vehicles and a 15.5% surge in gasoline station sales, retail sales were up 0.6% in March, the same as in February.Pending home sales rose by 1.5% in March, above the 0.5% increase expected in a survey compiled by Bloomberg and following a 2.5% increase in February, according to the National Association of Realtors. The monthly sales index was down 1.1% from March 2025.In company news, UnitedHealth Group (UNH) raised its full-year earnings outlook on Tuesday, as the health insurance giant recorded an unexpected annual increase in its Q1 results. Shares jumped 7.6%, the top gainer on the S&P 500 and the Dow.D.R. Horton's (DHI) fiscal Q2 results came in better than expected, although the homebuilder tempered its full-year revenue outlook. Shares advanced 7.1%, among the S&P 500's outperformers.Moody's (MCO) said Tuesday that it is deepening its partnership with Microsoft (MSFT) by embedding its credit intelligence into Microsoft 365 Copilot and other AI-driven enterprise tools, expanding its presence across financial workflows. Shares of Microsoft rose 1.4%, among the Dow's leaders.Apple (AAPL) shares fell 1.5%, among the Dow's laggards, a day after the company said that Tim Cook will become executive chairman after a nearly 15-year stint as chief executive officer, effective Sept 1.

Dow JonesNasdaq CompositeS&P 500$AAPL$DHI$MCO$MSFT$UNH
Wire

Top Midday Stories: UnitedHealth Raises 2026 EPS Guidance, Shares Soar; Cook to Step Down as Apple CEO

The Dow Jones Industrial Average and S&P 500 were down, while the Nasdaq Composite was up in late-morning trading Tuesday after President Donald Trump told CNBC earlier in the day that he expects the US and Iran to reach a deal before the ceasefire expires on Wednesday.In company news, UnitedHealth (UNH) reported Q1 adjusted earnings Tuesday of $7.23 per diluted share, up from $7.20 a year earlier and above the FactSet consensus analyst estimate of $6.58. First-quarter revenue was $111.72 billion, up from $109.58 billion a year ago and above the FactSet consensus of $109.43 billion. For 2026, the company said it expects adjusted EPS of over $18.25, up from its prior guidance of $17.75 and above the FactSet consensus of $17.86. UnitedHealth shares were up 8.0% around midday.Apple (AAPL) said late Monday that Tim Cook will step down as chief executive and become executive chairman, effective Sept. 1. Current Senior Vice President of Hardware Engineering John Ternus will succeed Cook as CEO, the company said. Apple shares were down 1.7%.Amazon (AMZN) said late Monday it will invest $5 billion in Anthropic and up to another $20 billion if certain commercial milestones are met in the future. Meanwhile, Anthropic said it's committed to spending over $100 billion over the next 10 years on Amazon Web Services technologies. Separately, Amazon said Tuesday it has launched a GLP-1 Management Program through Amazon One Medical that provides primary care, pharmacy services and virtual care options to help patients achieve and maintain their weight-loss goals. Amazon shares were up 1.8%.D.R. Horton (DHI) reported fiscal Q2 net income Tuesday of $2.24 per diluted share, down from $2.58 a year earlier but above the FactSet consensus of $2.13. Fiscal Q2 revenue was $7.56 billion, down from $7.73 billion a year ago but above the FactSet consensus of $7.55 billion. For fiscal 2026, the company said it now expects revenue of $33.50 billion to $34.50 billion, compared with its prior guidance of $33.50 billion to $35 billion. Analysts polled by FactSet expect $33.29 billion. D.R. Horton shares were up 7.5%.GE Aerospace (GE) reported Q1 adjusted earnings Tuesday of $1.86 per share, up from $1.49 a year earlier and above the FactSet consensus of $1.60. First-quarter revenue was $11.61 billion, up from $9.94 billion a year ago and above the FactSet consensus of $10.71 billion. For 2026, the company maintained its adjusted EPS guidance range of $7.10 to $7.40, below the FactSet consensus of $7.49. GE shares were down 5.1%.Danaher (DHR) reported Q1 adjusted earnings Tuesday of $2.06 per diluted share, up from $1.88 a year earlier and above the FactSet consensus of $1.94. First-quarter sales were $5.95 billion, up from $5.74 billion a year ago but below the FactSet consensus of $5.98 billion. For Q2, the company said it expects non-GAAP core revenue to increase in the low single-digit percent range from the year prior. For full-year 2026, Danaher said it expects adjusted EPS of $8.35 to $8.55, compared with its prior guidance of $8.35 to $8.50 and the FactSet consensus of $8.40. Danaher shares were down 0.3%.Price: $347.72, Change: $+24.24, Percent Change: +7.49%

$AAPL$AMZN$DHI$DHR$GE$UNH
Asia Markets

AI Optimism Lifts US Equity Futures Pre-Bell Amid Uncertainty of US-Iran Peace Talks

US equity futures were higher pre-bell on Tuesday as recent optimism on artificial intelligence and tech buoyed investor sentiment amid the uncertainty of a new round of negotiations between the US and Iran.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.3% higher.JPMorgan Chase (JPM) boosted its year-end target for the S&P 500 index to 7,600, pointing to AI and tech-driven earnings, while Amazon (AMZN) said it planned to invest $5 billion in Claude AI chatbot creator Anthropic, with up to another $20 billion potentially available in the future if certain commercial milestones are met.President Donald Trump seems positive on the new round of peace talks happening, while Iran has said it will not negotiate "under the shadow of threat." The ceasefire between the two nations ends tomorrow.Traders took note of the latest round of earnings, with GE Aerospace (GE) and UnitedHealth Group (UNH) reporting higher Q1 adjusted earnings and revenue.Oil prices were slightly lower, with front-month global benchmark North Sea Brent crude down 0.2% at $95.20 per barrel and US West Texas Intermediate crude 0.7% lower at $88.95 per barrel.March retail sales rose 1.7% following an upwardly adjusted 0.7% gain in the prior month, above estimates compiled by Bloomberg of a 1.4% increase.The Senate Banking Committee hearing of Kevin Warsh for the Federal Reserve chair is scheduled at 10 am ET.In other world markets, Japan's Nikkei closed 0.9% higher, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.4% higher in Europe's early afternoon session.In equities, Amazon stock was higher by 2.2% pre-bell. UnitedHealth shares rose 7.4% after the company's Q1 adjusted earnings and revenue surpassed analysts' consensus. Danaher (DHR) stock was up by 0.5% after posting Q1 adjusted earnings that beat analysts' estimates.On the losing side, Apple (AAPL) shares eased slightly by 0.7% after the company said Tim Cook plans to step down as chief executive and become executive chairman, with hardware engineering veteran John Ternus set to succeed him as CEO. 3M (MMM) stock was down by 3.7% despite the company's Q1 adjusted earnings and net sales surpassing analysts' consensus.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$DHR$GE$JPM$MMM$UNH
US Markets

Stocks Rise Pre-Bell as Traders Weigh Uncertainty Over US-Iran Talks

US equity futures were pointing higher on Tuesday as traders monitor uncertainty over a potential fresh round of talks between the US and Iran and await the latest batch of corporate earnings.The S&P 500 and the Dow Jones Industrial Average rose 0.2% each in premarket activity, while the Nasdaq added 0.3%. The S&P 500 and the Nasdaq finished the previous trading session lower, with the latter snapping a 13-day winning streak, while the Dow was little changed.President Donald Trump said Vice President JD Vance is ready to leave for Pakistan for a second round of peace talks with Iran, according to a Bloomberg report. Iran, however, hasn't publicly confirmed if any representative from its side will participate in the latest proposed negotiations."We do not accept negotiations under the shadow of threats, and in the past two weeks, we have prepared to reveal new cards on the battlefield," Iranian Parliament Speaker Mohammad Bagher Ghalibaf said in a Monday post on X. Iran's President Masoud Pezeshkian said in a social media post that the country still has "deep historical mistrust" towards the US government's conduct.Trump said Monday that the US is not likely to extend its current ceasefire with Iran if a deal isn't agreed, Bloomberg News reported. The ceasefire is set to expire "Wednesday evening Washington time," Trump reportedly said."I'm not going to be rushed into making a bad deal," Trump said in a phone interview, according to Bloomberg. "We've got all the time in the world."The US-Iran ceasefire may be extended by up to two weeks, though it will take much longer to hammer out a complete peace agreement, Macquarie Group said in a note on Monday.West Texas Intermediate crude oil declined 1.2% to $88.55 a barrel before the opening bell, while Brent decreased 0.9% to $86.68."Oil prices are being whipsawed by developments in the Middle East once again, with what appears to be de-escalation quickly turning to re-escalation," ING Bank said in a Monday report.Treasury yields were moving upwards in premarket action, with the two-year rate gaining 2.1 basis points to 3.74% and the 10-year rate edging 0.6 basis points higher to 4.26%.GE Aerospace (GE), UnitedHealth (UNH), Danaher (DHR), Northrop Grumman (NOC), 3M (MMM), D.R. Horton (DHI), Tractor Supply (TSCO) and Genuine Parts (GPC) are scheduled to report their latest financial results before the bell, among others.Shares of Amazon.com (AMZN) inclined 2.7% pre-bell after the e-commerce giant said it will invest $5 billion in artificial intelligence startup Anthropic and up to another $20 billion in the future if certain commercial milestones are met.Apple (AAPL) nudged 0.3% lower after the iPhone maker announced that Tim Cook will step down as chief executive and become executive chairman, with hardware engineering veteran John Ternus set to succeed him as CEO. Alaska Air (ALK) fell 2.9% after reporting its latest quarterly results.Tuesday's economic calendar has the retail sales report for March at 8:30 am ET, followed by the pending home sales index for the same month at 10 am.Federal Reserve Chair nominee Kevin Warsh's hearing before the Senate Banking committee is slated for 10 am. Fed Governor Christopher Waller is expected to speak at 2:30 pm.Gold slipped 0.6% to $4,801 per troy ounce, while bitcoin traded up 0.4% at $76,575.

Dow JonesNasdaq CompositeS&P 500$AAPL$ALK$AMZN$DHI$DHR$GE$GPC$MMM$NOC$TSCO$UNH
US Markets

Apple CEO Tim Cook to Step Down; Longtime Hardware Engineering Executive Named Successor

Apple (AAPL) announced that Tim Cook will step down as chief executive of the iPhone maker and become executive chairman, with hardware engineering veteran John Ternus set to succeed him as CEO.Cook, who has served in the top role at the technology giant since 2011, will transition to executive chairman, effective Sept. 1, Apple said late Monday. Ternus, who currently works as the company's senior vice president of hardware engineering, will take over from Cook on the same date.Arthur Levinson, who has been Apple's nonexecutive chairman for the past 15 years, will become its lead independent director at the beginning of September, according to the company."On behalf of the entire board of directors, we are incredibly grateful for (Cook's) countless contributions to Apple and the world, and we are thrilled he will now be executive chairman," Levinson said in a statement. "We believe John is the best possible leader to succeed Tim."Ternus joined Apple's product design team in 2001 and became vice president of hardware engineering in 2013. He became part of the executive team in his current role in 2021."I am profoundly grateful for this opportunity to carry Apple's mission forward," according to Ternus. "I am filled with optimism about what we can achieve in the years to come."In a separate statement, Apple said Johny Srouji, who most recently served as senior vice president of hardware technologies, will become chief hardware officer and take on an expanded role leading hardware engineering.Apple's stock decreased 0.5% in Tuesday's most recent premarket activity. It has gained about 37% over the past 12 months.Investors are likely to have a mixed view on Cook stepping down as CEO, with the company undergoing a major transition on its artificial intelligence strategy, Wedbush Securities said in a Monday client note. "While there were rumors of Cook leaving as CEO, investors will for now have more questions than answers around the timing and what this means for the broader Apple strategy," Wedbush analysts, including Daniel Ives, said.The brokerage believes Ternus will face pressure to produce immediate success, especially on the AI front, with all eyes on Apple's product roadmap and AI strategy at the Worldwide Developers conference later this year. Wedbush maintained its outperform rating and $350 price target on Apple's stock.In January, Apple reported fiscal first-quarter results above Wall Street's estimates on the back of strong iPhone demand. During a conference call with analysts at the time, Chief Financial Officer Kevan Parekh said the company expected overall revenue to grow by 13% to 16% on a yearly basis for the second quarter, reflecting its "best estimates of constrained iPhone supply."

$AAPL
Research

Research Alert: Aapl: Tim Cook Steps Down Earlier Than Thought; Well Planned And Minimizes Risk

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:AAPL announces CEO Tim Cook will step down September 1 after 15 years, with John Ternus (SVP Hardware Engineering) succeeding him, while Cook becomes Executive Chairman. Johny Srouji was promoted to Chief Hardware Officer, expanding his role beyond silicon to oversee all hardware engineering and technologies. We view this well-orchestrated succession as neutral to modestly positive despite being sooner than expected, addressing prior leadership continuity concerns while strategically pivoting from operational excellence to product-centric engineering leadership appropriate for AAPL's push into AI and foldables, among other categories. The four-month transition period with Cook's continued involvement as Executive Chairman mitigates execution risks (with Cook focusing on policy). Ternus brings 25 years of Apple experience, leading the Mac's Apple silicon transition and iPhone evolution. Srouji's elevation ensures continuity in Apple's silicon strategy, which has driven gross margins to the high-40% levels.

$AAPL
Wire

MP Materials Becomes Stable Asset With US Government Backing, Multi-Year Contracts, Wedbush Says

MP Materials (MP) has raised its status from a speculative commodity investment subject to Chinese prices to a stable, US-backed asset with downside protection and contracts for years of growing demand, Wedbush said in a Monday note.The company has emerged as America's "rare earth national champion" with its ownership of Mountain Pass Mine in California, Wedbush analysts said.With China controlling about 60% of global mining and 90% of downstream processing and magnet manufacturing, supply independence for the critical materials become top priority amid tensions between the two superpowers, the analysts said.US government support, including a $400 million equity investment from the Department of Defense, a guaranteed 10-year price floor for Neodymium-praseodymium oxide, and guaranteed purchases of magnets, is expected to protect MP Materials against price crashes and Chinese oversupply risks, according to the note.Aside from the agency, Apple (AAPL) and General Motors (GM) are set to provide a steady stream of orders, and its facility in Northlake, Texas, is expected to be commissioned in 2028, the note said.These factors make MP Materials a "uniquely derisked" investment opportunity, the analysts said.Wedbush initiated coverage of the company's stock with a rating of outperform and a price target of $90.Price: $64.08, Change: $+3.09, Percent Change: +5.07%

$AAPL$GM$MP
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 2.1%.The Philadelphia Semiconductor index climbed 1.9%.In corporate news, Palantir (PLTR), Thales, and Air Space Intelligence were selected by the US Federal Aviation Administration to compete on a new AI tool for air traffic management, Bloomberg reported. Palantir shares rose 2.8%.Apple (AAPL) recorded a 20% year-over-year increase in smartphone shipments in China during Q1 to become the second-largest seller in the country, Counterpoint Research said Friday. Apple shares climbed 2.7%.Amazon-backed (AMZN) Anthropic Chief Executive Dario Amodei is set to meet on Friday with White House Chief of Staff Susie Wiles for talks that could set the stage for federal agencies to eventually start using Mythos, the company's new AI model, Bloomberg reported. Amazon shares were up 0.4%.Bandwidth (BAND) shares jumped past 11% after B. Riley raised its price target to $27 from $20 while keeping its buy rating.

$AAPL$AMZN$BAND$PLTR
Sectors

Sector Update: Tech Stocks Gain Friday Afternoon

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 2.6%.The Philadelphia Semiconductor index added 2%.In corporate news, Apple (AAPL) recorded a 20% year-over-year increase in smartphone shipments in China during Q1 to become the second-largest seller in the country, Counterpoint Research said Friday. Apple shares climbed 2.7%.Amazon.com (AMZN)-backed Anthropic is in talks with the European Commission on its different models, including its cybersecurity models that are not available in the EU, Reuters reported Friday. Amazon shares added 1.7%.Bandwidth (BAND) shares jumped past 9% after B. Riley raised its price target to $27 from $20 while keeping its buy rating.

$AAPL$AMZN$BAND
Wire

Sector Update: Tech

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) gaining 2.6%.The Philadelphia Semiconductor index added 2%.In corporate news, Apple (AAPL) recorded a 20% year-over-year increase in smartphone shipments in China during Q1 to become the second-largest seller in the country, Counterpoint Research said Friday. Apple shares climbed 2.9%.

$AAPL
Research

BNP Paribas Upgrades Apple to Outperform From Neutral, Raise Price Target to $300 From $260

Apple (AAPL) has an average rating of overweight and mean price target of $301.37, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$AAPL
US Markets

Nasdaq, S&P 500 Hit New Highs Amid US-Iran Peace Talk Prospects

The Nasdaq Composite and the S&P 500 notched record highs on Wednesday, buoyed by hopes that another round of peace talks between the US and Iran will likely result in a deal.The Nasdaq rose 1.6% to 24,016, marking the 11th consecutive one-day gain in a row, while the S&P 500 advanced 0.8% to 7,023. Both are new closing highs. The Dow Jones Industrial Average fell 0.2% to 48,463.7.Most sectors ended in the red, led by materials, while tech saw the biggest gain.Microsoft (MSFT) shares climbed 4.6%, the top gainer on the Dow, with fellow tech majors Salesforce (CRM), Apple (AAPL), and IBM (IBM) among the best performers on the index.Reports suggest Washington and Tehran could return to Pakistan for a second round of talks ahead of the deadline for a two-week ceasefire between the US and Iran. The first round of negotiations in Islamabad ended without a breakthrough."We feel good about the prospects of a deal," White House Press Secretary Karoline Leavitt said Wednesday, CNN reported."Markets have grown more confident that the Middle East crisis is moving toward a resolution, with the US and Iran arranging a second round of talks, and Tehran seemingly willing to halt shipments to avoid testing the US naval blockade," ING Bank said in a report.West Texas Intermediate crude oil was down 0.1% at $91.16 a barrel in Wednesday late-afternoon trade, while Brent gained 0.1% to $94.91.In company news, shares of retail brokers jumped, with Robinhood Markets (HOOD) up 10%, the best performer on the S&P 500. Webull (BULL) jumped 11%, while Interactive Brokers Group (IBKR) rose 3.4%.The rally followed the approval by the US Securities and Exchange Commission of a rule change that would eliminate the $25,000 minimum equity requirement for so-called "pattern day traders."Morgan Stanley (MS) and Bank of America's (BAC) first-quarter results topped Wall Street's estimates. Morgan Stanley's shares climbed 4.5%, while Bank of America rose 1.8%.Snap (SNAP) rallied 7.9%. The social media company plans to lay off about 1,000 employees, or roughly 16% of its full-time workforce, as part of Chief Executive Evan Spiegel's efforts to reduce costs.In economic news, US homebuilder confidence sank this month to the lowest since September amid economic uncertainty, as well as increasing building material costs and interest rates, the National Association of Home Builders and Wells Fargo said."Builder sentiment has fallen back in spring as buyers face ongoing elevated interest rates and growing economic uncertainty," NAHB Chairman Bill Owens said. "The year started with hopes for housing momentum growth, but risks with respect to the Iran war, energy costs, and declines for consumer confidence have slowed the market."US Treasury yields were higher, with the 10-year rate up 2.8 basis points at 4.28% and the two-year rate rising 1.5 basis points to 3.77%.Gold was last down 0.7% at $4,816.50 per troy ounce, while silver fell 0.3% to $79.32 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BAC$BULL$CRM$HOOD$IBKR$IBM$MS$MSFT$SNAP
US Markets

Equities Mostly Rise Intraday as Trump Reportedly Says War Likely 'Very Close to Over'

US benchmark equity indexes were mostly higher intraday as President Donald Trump reportedly said the Iran was likely "very close to over."The Nasdaq Composite was up 1% at 23,873.7 after midday Wednesday, while the S&P 500 rose 0.4% to 6,998.1. The Dow Jones Industrial Average fell 0.3% to 48,376.9. Among sectors, consumer discretionary and technology paced the gainers, while industrials saw the steepest drop.Microsoft (MSFT) shares were up 4.4%, the top gainer on the Dow, with fellow tech majors Salesforce (CRM), Apple (AAPL), and IBM (IBM) among the best performers on the index.Trump said he sees the US-Israel war with Iran "as very close to over," news outlets reported, citing an interview on Fox Business Network conducted Tuesday and broadcast Wednesday. "We'll see what happens," Trump reportedly said. "I think they want to make a deal very badly."The army chief of mediator Pakistan arrived in Iran to try to prevent a renewal of the conflict, media outlets reported Wednesday."Markets have grown more confident that the Middle East crisis is moving toward a resolution, with the US and Iran arranging a second round of talks, and Tehran seemingly willing to halt shipments to avoid testing the US naval blockade," ING Bank said in a report.Iran's military has threatened to shut down shipping operations in the Red Sea, as well as the Persian Gulf and Sea of Oman if a US blockade of its ports continues, CNN reported.West Texas Intermediate crude oil was up 0.7% at $91.87 a barrel intraday, while Brent gained 0.6% to $95.40.In economic news, US homebuilder confidence sank this month to the lowest since September amid economic uncertainty, as well as increasing building material costs and interest rates, the National Association of Home Builders and Wells Fargo said."Builder sentiment has fallen back in spring as buyers face ongoing elevated interest rates and growing economic uncertainty," NAHB Chairman Bill Owens said. "The year started with hopes for housing momentum growth, but risks with respect to the Iran war, energy costs, and declines for consumer confidence have slowed the market."US Treasury yields were higher intraday, with the 10-year rate up 3.2 basis points at 4.29% and the two-year rate rising 2.1 basis points to 3.78%.In company news, Morgan Stanley (MS) and Bank of America's (BAC) first-quarter results topped Wall Street's estimates. Morgan Stanley's shares were up 4.6%, while Bank of America rose 2.2%.Snap (SNAP) shares jumped 7.6%. The social media company plans to lay off about 1,000 employees, or roughly 16% of its full-time workforce, as part of Chief Executive Evan Spiegel's efforts to reduce costs.Gold was down 0.7% at $4,815.30 per troy ounce, while silver fell 0.4% to $79.18 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$BAC$CRM$IBM$MS$MSFT$SNAP
US Markets

Amazon to Acquire Mobile Satellite Services Operator Globalstar

Amazon.com (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as the e-commerce giant aims to add direct-to-device services to its Leo satellite network, the companies said Tuesday.Globalstar's investors may opt to receive $90 in cash for every share owned, or 0.3210 shares of Amazon with a $90 valuation cap. Total cash elections can't exceed 40% of Globalstar's shares. The total consideration may be adjusted downward by up to $110 million if Globalstar fails to meet certain operational milestones, according to the joint statement.Globalstar had a market capitalization of $9.37 billion as of Monday, according to FactSet data. Its shares were up 9% intraday, while Amazon's rose 2.8%."By combining Globalstar's proven expertise and strong foundation with Amazon's customer-obsession and innovation, customers can expect faster, more reliable service in more places," Panos Panay, senior vice president of devices and services at Amazon, said.Upon completion, Amazon Leo will be able to provide D2D services via its low Earth orbit satellite network and extend cellular coverage beyond the reach of terrestrial networks, the companies said. The plan is to deploy Amazon Leo's own D2D satellite system beginning in 2028."(Amazon) is effectively solving its (Federal Communications Commission) deadline problem by acquiring a functioning satellite operator while also leapfrogging into D2D connectivity, a market SpaceX's Starlink has been targeting," Wedbush Securities analyst Michael Piccolo said in a note e-mailed to.SpaceX is a private company owned by Elon Musk, CEO of Tesla (TSLA).The transaction, which requires regulatory approvals, is anticipated to complete in 2027."The combination with Amazon Leo will advance innovations in digital connectivity that will benefit our customers and advance us toward a more intelligent, continuously connected world," Globalstar Chief Executive Paul Jacobs said.Amazon said that it agreed to provide satellite connectivity for Apple's (AAPL) current and future iPhone and its smartwatch features. Currently, Globalstar provides satellite service that powers iPhone 14 or newer models, as well as Apple Watch Ultra 3."Apple and Amazon have a long and proven track record of working together through Amazon's core infrastructure services, and we look forward to building on that collaboration with Amazon Leo," Greg Joswiak, senior vice president of worldwide product marketing at Apple, said.Price: $246.78, Change: $+6.89, Percent Change: +2.87%

$AAPL$AMZN$GSAT$TSLA
Wire

Apple's Fiscal Q2 Earnings Could Beat Street Consensus, BofA Says

Apple's (AAPL) fiscal Q2 earnings could exceed Street estimates on strong iPhone sales, double-digit growth in Services revenue and foreign-exchange tailwinds, BofA Securities said Tuesday in a note.Upcoming catalysts include a new buyback authorization, the Worldwide Developers Conference in June, the launch of a foldable iPhone in the fall, and the launch of an enhanced Siri integrated with Gemini AI, according to the note.The brokerage said it expects strong iPhone demand and raised its iPhone unit estimate for fiscal Q2 to 60 million. It models 14% revenue growth for Services, in line with management's guidance.BofA models fiscal Q2 revenue and earnings per share of $113 billion and $2, respectively, versus Street consensus of $109 billion and $1.93.The brokerage expects fiscal Q3 revenue and EPS of $106 billion and $1.82, compared with Street consensus of $103 billion and $1.74, respectively.It also raised its fiscal 2026 revenue and EPS estimates to $466 billion and $8.55 from $462 billion and $8.36.Apple is scheduled to report fiscal Q2 results on April 30.BofA maintained a Buy rating on Apple and raised its price target to $325 from $320.Price: $259.25, Change: $+0.05, Percent Change: +0.02%

$AAPL
Wire

BofA Securities Adjusts Apple Price Target to $325 From $320, Maintains Buy Rating

Apple (AAPL) has an average rating of overweight and mean price target of $299.66, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $260.13, Change: $+0.93, Percent Change: +0.36%

$AAPL
Sectors

Sector Update: Tech Stocks Edge Higher Premarket Tuesday

Technology stocks were edging higher premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) advancing by 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.4%.Bloom Energy (BE) said it will provide up to 2.8 gigawatts of its fuel cell systems to Oracle (ORCL) under an expanded partnership to support the software giant's artificial intelligence infrastructure buildout. Shares of Oracle were up more than 5% pre-bell.Camtek (CAMT) stock was up more than 5% after the company said it has agreed to acquire Tel Aviv-based artificial intelligence business Visual Layer, with closing expected in a few weeks.Apple (AAPL) ranked second in China's smartphone market in the first quarter of 2026, as overall shipments declined 1% year over year to 69.8 million units, research firm Omdia reported. Apple shares were 0.2% higher pre-bell.

$AAPL$BE$CAMT$ORCL$XLK$XSD
US Markets

Cloudflare Sell-Off Offers Buying Opportunity as Project Glasswing Concerns 'Overblown,' Oppenheimer Says

Cloudflare's (NET) stock sell-off offers a buying opportunity, while concerns around Project Glasswing are "overblown" as the cloud-services company is seen benefitting from a projected exponential growth in agentic artificial intelligence applications, Oppenheimer said Friday.Oppenheimer's upbeat outlook for Cloudflare comes as its shares tumbled 8.6% Thursday, which the brokerage attributed to competitive concerns around Anthropic's Project Glasswing initiative and a broader market weakness. Cloudflare shares were down 13% in Friday late-afternoon trade, bringing its year-to-date losses to nearly 15%.Project Glasswing is a cross-industry coalition formed to "secure the world's most critical software," Anthropic said in a statement. The alliance, which will be using Anthropic's unreleased Claude Mythos frontier model, includes Amazon (AMZN) Web Services, Apple (AAPL), Broadcom (AVGO), Cisco (CSCO), CrowdStrike (CRWD), Alphabet's (GOOG, GOOGL) Google, JPMorgan Chase (JPM), Microsoft (MSFT), Nvidia (NVDA), and Palo Alto Networks (PANW).Cloudflare is not part of the coalition.The concerns over Project Glasswing are "overblown," with the Cloudflare stock sell-off providing a "tactical buying opportunity," Oppenheimer analysts Param Singh and Jake Heimowitz said in a note to clients Friday. Claude Mythos will "proactively find and fix vulnerabilities across critical infrastructure," they said."We want to highlight that Cloudflare's security sales are tied to its physical network, which is necessary to funnel data traffic," the analysts wrote. "We see Cloudflare as a beneficiary of this growing sophistication in frontier models, which will support exponential growth in agentic AI applications and benefit Cloudflare across delivery, security, and compute."Cloudflare handles roughly 20% of global internet traffic volume, with Oppenheimer seeing the company as a share gainer and beneficiary from an "increasingly agentic web," the analysts said. Agentic AI is expected to drive data traffic growth at a compound annual growth rate of more than 20%, according to the note.The brokerage, which has an outperform rating on the Cloudflare stock, said its checks indicate an accelerating customer spend with the company amid "higher security module and compute attach."Price: $167.26, Change: $-25.79, Percent Change: -13.36%

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