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Apple Inc.

Apple Inc.

$AAPL
NASDAQTechnology

375 stories mentioning Apple Inc.Updated 3d ago

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

What's the latest news on Apple Inc.?

Wire

Market Chatter: Apple Glass-Design Overhaul Remains Scheduled for iPhone's 20th Anniversary

Apple (AAPL) continues to plan a glass-centric design overhaul for iPhone's 20th-anniversary lineup, Bloomberg News reported, citing people familiar with the matter.The company intends to introduce high-end iPhone models next year with a new glassy look, the media outlet reported late Monday.The company's product roadmap hasn't changed, the news outlet reported, citing one of the people.Apple did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $304.44, Change: $-3.82, Percent Change: -1.24%

$AAPL
Wire

Market Chatter: Apple's Head of Pay and Wallet Services to Retire

Apple's (AAPL) head of Pay and Wallet services, Jennifer Bailey, is retiring after more than 20 years at the company, Bloomberg reported Tuesday, citing a staff memo.The company will outline a succession plan before Bailey's departure at the end of October, the report said.Apple didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $305.19, Change: $-3.07, Percent Change: -1.00%

$AAPL
Wire

Apple's Head of Pay and Wallet Services to Retire, Bloomberg Reports

Apple's Head of Pay and Wallet Services to Retire, Bloomberg Reports

$AAPL
Asia Markets

Update: US Equity Indexes Decline as Fading Hopes for Quick Hormuz Reopening Lift Crude Oil, Treasury Yields

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes slipped as government bond yields and crude oil jumped after President Donald Trump's rhetorical call for Iran to pay compensation dimmed hopes for a quick reopening of the Strait of Hormuz, the chokepoint for about a fifth of global oil and natural gas outflows.The Nasdaq Composite fell 0.3% to 26,605.36, and the Dow Jones Industrial Average fell 0.1% to 53,975.98 on Monday. The S&P 500 slipped less than 0.1% to 7,753.11.Energy and healthcare led the gainers while real estate and utilities were among the steepest decliners.Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz, but reiterated that the US must meet other conditions -- compensation and an end to sanctions and military threats -- before the critical waterway is reopened, Reuters reported.The US must lift its blockade of ports before Tehran agrees to fully reopen Hormuz, Iran's Foreign Ministry Spokesman Esmail Baghaei said Monday, according to CNBC. "As long as the US naval blockade continues, the necessary conditions for the reopening of Hormuz do not exist," Baghaei was cited as saying to Iran's news agency, Tasnim."I am likewise demanding compensation from Iran, for all of the people that they have killed and gravely wounded with their roadside bombs and many conflicts, for which they are famous..." President Donald Trump said in a Truth Social post. "Additionally, compensation should be paid to the families of the hundreds of thousands of innocent protestors that Iran has killed over the last 50 years..."The front-month US West Texas Intermediate crude oil contract jumped 5.2% to $82.22 a barrel, and global benchmark North Sea Brent advanced 5% to $87.76 a barrel, reflecting concern that Iran and the US are not getting closer to resolving the war.Shares of Chevron (CVX) were up 4.5%, the biggest gainer on the Dow.US Treasury yields rose, with the 10-year yield up 4.5 basis points to 4.7% and the two-year climbing 3.7 basis points to 4.24%.Gold futures rose 1.1% to $4,448.9, and silver futures jumped 3.8% to $65.92.In company news, Apple (AAPL) has enabled eligible Mac users in mainland China to connect Alibaba's (BABA) Qwen artificial intelligence service to Siri and Writing Tools, Reuters reported Friday. The arrangement gives Apple a locally developed AI option for Mac users in China, the report said.Jefferies downgraded Apple to underperform from hold while adjusting its price target to $263.66 from $285.56. Shares of Apple dropped 1.5%, one of the worst performers on the Dow.S&P 500 companies' quarterly earnings growth rate eased from a week ago as the healthcare sector's results weighed, Oppenheimer Asset Management said, adding that results overall remain "strong." Some 89% of the companies in the benchmark index have reported results, with earnings up by about 51% year over year, compared with 57% growth a week ago.

Dow JonesNasdaq CompositeS&P 500$AAPL$BABA$CVX
Asia Markets

Update: US Equity Indexes Mixed as Crude Oil, Treasury Yields Jump Amid Worsening Iran Geopolitics

(Updates with index/price moves and company news from the first paragraph.)US equity indexes were mixed in midday trading on Monday amid gains in government bond yields and higher crude oil prices as hopes faded for a quick reopening of the Strait of Hormuz, the chokepoint for about a fifth of global oil and natural gas flows.The Nasdaq Composite slipped 0.3% to 26,614.4, with the Dow Jones Industrial Average down 0.3% to 53,905.1. The S&P 500 was little changed at 7,755.6.Energy and healthcare led the gainers while real estate, technology and utilities were among the steepest decliners.Shares of Chevron (CVX) were up 4%, the biggest gainer on the Dow.President Donald Trump signaled a US emphasis on increasing economic pressure on Iran, saying that Washington is "low-keying" negotiations with the country, CNN reported.Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz, but reiterated that the US must meet other conditions -- compensation and an end to sanctions and military threats -- before the critical waterway is reopened, Reuters reported.The Iranian official, who had issued the demands on behalf of the Islamic Republic, has been replaced by the country's supreme leader with a veteran Revolutionary Guards commander who has previously voiced skepticism about talks with the US, CNN reported.The front-month US West Texas Intermediate crude oil contract jumped 4.2% to $81.49 a barrel, and global benchmark North Sea Brent advanced 4.3% to $87.09 a barrel.US Treasury yields rose, with the 10-year yield up 4.3 basis points to 4.7% and the two-year higher by 3.7 basis points to 4.24%.Gold futures rose 0.4% to $4,416.9, and silver futures jumped 2.8% to $65.27.In company news, Trade Desk (TTD) slid 5.5%, one of the worst performers on the S&P 500, following stock rating downgrades from multiple brokerages, including DA Davidson.Apple (AAPL) has enabled eligible Mac users in mainland China to connect Alibaba's (BABA) Qwen artificial intelligence service to Siri and Writing Tools, Reuters reported Friday. The arrangement gives Apple a locally developed AI option for Mac users in China, the report said. Jefferies downgraded Apple to underperform from hold while adjusting its price target to $263.66 from $285.56.Shares of Apple dropped 2%, one of the worst performers on the Dow.

Dow JonesNasdaq CompositeS&P 500$AAPL$BABA$CVX$TTD
Research

Jefferies Downgrades Apple to Underperform From Hold, Adjusts PT to $263.66 From $285.56

Apple (AAPL) has an average rating of overweight and mean price target of $327.48, according to analysts polled by FactSet.

$AAPL
Sectors

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Thursday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) easing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.8%.The Philadelphia Semiconductor Index rose 0.7%.Nscale is informing prospective investors that it has $51 billion in contracted revenue ahead of a US initial public offering that might occur as soon as September, Bloomberg reported.Apple (AAPL) sued OpenAI, which is backed by Microsoft (MSFT), over trade secret theft, though the AI company asked a federal judge to dismiss the case as meritless, Bloomberg reported. Apple shares rose 0.5%, and Microsoft added 2.3%.Space Exploration Technologies (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, with phase one of the Terafab project including a capital investment of more than $16.8 billion, Governor Greg Abbott said in a statement. SpaceX shares rose 4.6%.AppLovin (APP) shares fell 20% after Q2 revenue fell short of market estimates.Palo Alto Networks' (PANW) products sold in China are undergoing a cybersecurity review by the country's regulators, Bloomberg reported. Palo Alto shares fell 0.9%.

$AAPL$APP$MSFT$PANW$SPCX
Sectors

Sector Update: Tech

Tech stocks were mixed late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) down 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.8%.The Philadelphia Semiconductor Index rose 1%.In corporate news, Apple (AAPL) sued Microsoft-backed (MSFT) OpenAI over trade secret theft, but the AI company asked a federal judge to dismiss the case as meritless, Bloomberg reported, citing a court filing. Apple shares were up 0.5%, and Microsoft added 2.3%.

$AAPL$MSFT
Wire

Top Midday Stories: Apollo Acquires EasyJet in Deal Valued at $7.68 Billion; Honeywell Aerospace Shares Fall Following Guidance Cut

The Dow Jones Industrial Average was down in late-morning trading Thursday, while the the S&P 500 and Nasdaq Composite were up slightly, as investors watch for developments in the process to reopen the Strait of Hormuz.In company news, Apollo Global Management's (APO) Eagle Bidco and EasyJet have reached an agreement through which the Apollo fund will acquire the airline for 7.15 British pounds ($9.63) per share in cash, according to a regulatory filing with the London Stock Exchange. The deal values EasyJet at 5.7 billion British pounds, according to the filing. Apollo shares were down 1.2% around midday.Honeywell Aerospace (HONA) reported fiscal Q2 adjusted EPS late Wednesday of $1.87, down from $2.75 a year earlier. Fiscal Q2 revenue was $4.52 billion, up from $4.29 billion a year ago but below the FactSet consensus of $4.61 billion. For fiscal 2026, the company expects organic growth of 4% to 5%, down from its prior outlook of 7% to 9%. Analysts polled by FactSet expect full-year revenue of $18.91 billion. Honeywell Aerospace shares were down 20.3%.Sandisk (SNDK) reported fiscal Q4 adjusted earnings late Wednesday of $39.25 per diluted share, up from $0.29 a year earlier and above the FactSet consensus of $34.96. Fiscal Q4 revenue was $8.97 billion, up from $1.90 billion a year ago and above the FactSet consensus of $8.48 billion. For fiscal Q1, the company expects adjusted EPS of $44 to $46 on revenue of $10.30 billion to $10.80 billion. Analysts polled by FactSet expect $44.72 and $10.82 billion, respectively. Sandisk also said its board approved a share buyback expansion by an additional $14 billion, bringing the total remaining authorization to $15.5 billion. Sandisk shares were down 3.2%.Alphabet (GOOG, GOOGL) has started marketing a US investment-grade bond sale in as many as 10 parts, with maturities ranging from two to 40 years, Bloomberg reported Thursday, citing a person familiar with the matter. The tech giant is seeking up to $25 billion from the sale, according to a separate Bloomberg report, which cited people familiar with the matter. Alphabet Class C and Class A shares were down 0.7% and 0.8%, respectively.SpaceX (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, Governor Greg Abbott said Thursday in a statement. Phase one of the Terafab project includes a capital investment of more than $16.8 billion, Abbott said. SpaceX shares were up 2.5%.Western Digital (WDC) reported fiscal Q4 non-GAAP EPS late Wednesday of $3.56, up from $1.70 a year earlier and above the FactSet consensus of $3.31. Fiscal Q4 revenue was $3.75 billion, up from $2.1 billion a year ago and above the FactSet consensus of $3.70 billion. For fiscal Q1, the company expects non-GAAP EPS of $4.00, plus or minus $0.15, and revenue of $4.1 billion, plus or minus $100 million. Analysts polled by FactSet expect $3.84 and $4.06 billion, respectively. Western Digital shares were down 8.6%.AppLovin (APP) reported Q2 EPS late Wednesday of $3.76, up from $2.39 a year earlier and matching the FactSet consensus. Second-quarter revenue was $1.92 billion, up from $1.26 billion a year ago but below the FactSet consensus of $1.94 billion. For Q3, the company expects revenue of $2.06 billion to $2.09 billion, compared to the FactSet consensus of $2.08 billion. Applovin shares were down 20.1%.Datadog (DDOG) reported Q2 non-GAAP net income of $0.65 per diluted share, up from $0.46 a year earlier and above the FactSet consensus of $0.58. Second-quarter revenue was $1.12 billion, up from $826.8 million a year ago and above the FactSet consensus of $1.08 billion. For Q3, the company expects non-GAAP net income per share of $0.63 to $0.65 on revenue of $1.135 billion to $1.145 billion. Analysts polled by FactSet expect non-GAAP EPS of $0.61 on revenue of $1.11 billion. For full-year 2026, the company expects non-GAAP EPS of $2.50 to $2.54, up from its previous guidance of $2.3 to $2.44, and it raised its revenue guidance to $4.45 billion to $4.47 billion from $4.30 billion to $4.34 billion. Analysts polled by FactSet expect $2.42 and $4.35, respectively. Datadog shares were down 15.8%.Palo Alto Networks' (PANW) products sold in China are undergoing a cybersecurity review by the Cyberspace Administration of China, Bloomberg reported Thursday. Palo Alto shares were down 1.7%.Microsoft-backed (MSFT) OpenAI asked a federal judge to dismiss Apple's (AAPL) trade-secrets lawsuit as meritless, Bloomberg reported Thursday, citing a court filing. Microsoft shares were up 1.7%, while Apple shares were down 0.3%.Deutsche Bank (DB) and KBC Group have frozen some of Radiant World's bank accounts in Singapore, as pressure mounts on the commodities trader, Bloomberg reported Thursday, citing people familiar with the matter. DB shares were down 0.7%.Price: $128.12, Change: $-1.63, Percent Change: -1.25%

$AAPL$APO$APP$DB$DDOG$GOOG$GOOGL$HONA$MSFT$PANW$SNDK$SPCX$WDC
Sectors

Sector Update: Tech Stocks Gain Tuesday Afternoon

Tech stocks were sharply higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 5% and the State Street SPDR S&P Semiconductor ETF (XSD) up 6.2%.The Philadelphia Semiconductor index climbed up 6.7%.In corporate news, Palantir Technologies (PLTR) lifted its full-year revenue guidance on Monday after a surge in US commercial sales drove stronger-than-expected Q2 results. Shares jumped past 29%.Anthropic has inked a $10 billion deal for computing capacity with Volta Infra Holdings, a months-old infrastructure startup backed by Nvidia (NVDA), Bloomberg reported. Nvidia shares rose 2.3%.Apple's (AAPL) full-year sales in India have surpassed the $10 billion mark for the first time, Bloomberg reported Tuesday. Revenue grew in double digits in the 12 months through March from about $9 billion a year earlier, a person familiar with the matter told the news agency. Apple shares rose 1.8%.Amazon.com (AMZN) founder Jeff Bezos indicated plans to sell 15 million shares of the company valued at $4.07 billion, according to a regulatory filing. Separately, Amazon was sued Tuesday by New Jersey Attorney General Jennifer Davenport, who accused the company of abusing its market power over independent delivery drivers, Davenport's office confirmed to. Amazon shares were down 1.9%.

$AAPL$AMZN$NVDA$PLTR
Research

China Renaissance Downgrades Apple to Hold From Buy, Cuts Price Target to $280 From $329

Apple (AAPL) has an average rating of overweight and mean price target of $326.82, according to analysts polled by FactSet.

$AAPL
Sectors

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.8%.The Philadelphia Semiconductor Index added 1%.In corporate news, D-Wave Quantum (QBTS) shares jumped past 10% after the company and Nasdaq's (NDAQ) financial crime management unit, Nasdaq Verafin, signed an agreement to evaluate using quantum computing to improve financial crime detection.Alibaba (BABA) shares climbed 4.6% after the firm said it launched Qwen3.8-Max, its latest large language model.ArcelorMittal (MT) said Monday it has expanded its partnership with Microsoft (MSFT) to implement AI tools in its business processes. Separately, Microsoft is raising Xbox prices in the EU and the UK by up to 200 euros ($230.10) and 170 pounds ($228.33), respectively, The Verge reported. Microsoft shares rose 5.5%.Apple (AAPL) filed a new legal complaint at the Investigatory Powers Tribunal over the UK's demand that the company allows it access to cloud backups of data belonging to British users, The Financial Times reported Monday, citing a court order. Apple shares were down 1.3%.

$AAPL$BABA$MSFT$QBTS
Spotify's Path to Sales Growth Reacceleration, Margin Expansion Should Drive Stock Higher, Morgan Stanley Says
US Markets

Spotify's Path to Sales Growth Reacceleration, Margin Expansion Should Drive Stock Higher, Morgan Stanley Says

Spotify Technology's (SPOT) shares should move higher, driven by factors such as its path to a reacceleration in revenue growth and margin expansion, Morgan Stanley said in a note e-mailed Monday.The brokerage expects features including audiobooks, video podcasts, and generative artificial intelligence mixing tools to highlight product innovation and support long-term margin expansion at the audio-streaming platform, as user engagement deepens."We think the path to revenue growth reacceleration and margin expansion, along with catalysts on the come around additional label deals beyond (Universal Music Group) on the AI tools should drive shares higher," Morgan Stanley said in the note to clients. "Disclosed adoption and engagement data across podcasts, video, and audiobooks reinforce our view that success can continue -- and support (the company's) ability to turn that into improved pricing power and margin improvement, over time."In May, Spotify signed licensing agreements with Universal Music Group for fan-made remixes. The company also detailed its targets through 2030, including delivering a mid-teens revenue compounded annual growth rate, a gross margin between 35% and 40%, and an operating margin above 20%.Last month, Apple's (AAPL) music streaming service raised subscription prices globally, marking its first hike since October 2022. Morgan Stanley said the move helps overall industry structure and provides a favorable pricing umbrella for Spotify. In February, the audio-streaming platform raised premium monthly subscription prices to $12.99 from $11.99."Our credit card panel data shows less churn this price hike cycle than the prior two, underscoring product innovation and increased value perception," Morgan Stanley said.The brokerage raised its price target on the Spotify stock to $640 from $610 while maintaining an overweight rating, saying the stock's risk/reward profile is "compelling."The company's New York Stock Exchange-listed shares were down 2.1% in Monday late-afternoon trade and have fallen nearly 16% so far this year. Spotify is scheduled to report its second-quarter earnings Tuesday.Morgan Stanley projects Spotify to match guidance with more than 6 million Premium subscriber net additions in the quarter before accelerating to 6.5 million in the third quarter.Price: $491.30, Change: $-8.64, Percent Change: -1.73%

$AAPL$SPOT
Sectors

Sector Update: Tech Stocks Rise Monday Afternoon

Tech stocks were higher Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.1%.The Philadelphia Semiconductor index added 0.5%.In corporate news, Alibaba (BABA) shares climbed 4.4% after the firm said it has launched Qwen3.8-Max, its latest large language model.ArcelorMittal (MT) said Monday it has expanded its partnership with Microsoft (MSFT) to implement AI tools in its business processes. Separately, Microsoft is raising Xbox prices in the EU and the UK by up to 200 euros ($230.10) and 170 pounds ($228.33), respectively, The Verge reported. Microsoft shares rose 5.2%.Apple (AAPL) filed a new legal complaint at the Investigatory Powers Tribunal over the UK's demand that the company allow it access to cloud backups of data belonging to British users, The Financial Times reported Monday, citing a court order. Apple shares were down 0.7%.

$AAPL$BABA$MSFT
Wire

Market Chatter: Apple Files Legal Complaint Related to UK Government's Data Access Demands

Apple (AAPL) filed a new legal complaint at the Investigatory Powers Tribunal over the UK's demand that the company allow it access to cloud backups of data belonging to British users, The Financial Times reported Monday, citing a court order.UK authorities issued a new "technical capability notice" under the Investigatory Powers Act to Apple, soon after retreating from its original demand for a backdoor to data from UK and US users last year, according to the media outlet.Apple and the UK Home Office did not immediately respond to requests for comments from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $306.26, Change: $-2.66, Percent Change: -0.86%

$AAPL
S&P 500 Quarterly Profit Growth Eases Amid Sharp Tech Slowdown, Oppenheimer Says
US Markets

S&P 500 Quarterly Profit Growth Eases Amid Sharp Tech Slowdown, Oppenheimer Says

S&P 500 companies' second-quarter earnings growth has eased from a week ago as a sharp slowdown in profits reported by technology firms shadowed outsized gains in energy and consumer discretionary, Oppenheimer Asset Management said in a report Monday.So far, 306 companies, or 61% of the total, have reported results, with profit growth slowing to 57% from about 70% a week ago. Revenue growth jumped to 15% from nearly 13%.Earnings growth in the tech sector plunged to 61% from 190% a week ago, Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.Last week, Meta Platforms (META) reported an unexpected annual decline in quarterly net income per share, while Apple (AAPL), Microsoft (MSFT) and Amazon.com (AMZN) posted gains.All 11 sectors reported annual profit growth, with energy and consumer discretionary soaring more than 130% each. Energy overtook tech as the sector with the fastest revenue growth pace, at 39%, while tech revenue expansion slowed to 25% from 45%.Analysts polled by FactSet projected S&P 500 earnings growth at nearly 24% year over year ahead of the second-quarter reporting season, Oppenheimer said.Another 138 S&P 500 companies are scheduled to report results this week, including Eli Lilly (LLY), Advanced Micro Devices (AMD), Caterpillar (CAT), and Merck (MRK).Oil prices declined as President Donald Trump reportedly said Sunday that negotiations with Iran begin Monday. Trump previously called off a planned attack on Iran.Wall Street's stock market benchmarks closed out July mostly lower."A silver lining to the over-hanging clouds of recent volatility has been some further reduction in the forward earnings multiple of the S&P 500," Stoltzfus said.Price: $1120.72, Change: $-28.12, Percent Change: -2.45%

$AAPL$AMD$AMZN$CAT$LLY$META$MRK$MSFT
Wire

Astera Labs, GlobalFoundries Positioned for Long-term AI Growth, Morgan Stanley Says

Astera Labs (ALAB) and GlobalFoundries (GFS) remain well positioned for artificial intelligence infrastructure growth despite near-term execution risks, Morgan Stanley said in a note Monday.Astera Labs is scheduled to report earnings after the market closes on Tuesday. The biggest near-term driver is the anticipated H2 ramp of the Trainium 3 Scorpio switch, which is expected to support another quarter of revenue upside and higher guidance, the investment bank said.The bank said it expects Astera Labs' revenue to grow 17.4% in Q2 sequentially and 12% in Q3, with room for modest upside as Scorpio-X shipments accelerate. This quarter, key focus areas are new design wins, customer diversification beyond Amazon, and gross margins, which could face short-term pressure from higher product investments and non-cash customer warrant expenses.Qualcomm's (QCOM) recent results suggest a more cautious outlook for GlobalFoundries' mobile business. Qualcomm guided below consensus, partly because it expects a lower share of the iPhone 18, which could reduce GFS's RF content in Apple (AAPL) devices. Since Qualcomm accounted for 15% of GFS's revenue last year, this creates some near-term risk for GFS's smartphone segment, according to the note.The bank said AI and manufacturing reshoring remain important focus areas, and that it will be looking for updates on customer demand in both areas later this week.Morgan Stanley raised its price target on Astera Labs to $335 from $240, while lowering the price target on GlobalFoundries to $57 from $65.Price: $310.08, Change: $-1.15, Percent Change: -0.37%

$AAPL$ALAB$GFS$QCOM
Research

Phillip Securities Downgrades Apple to Reduce From Neutral, $290 Price Target

Apple (AAPL) has an average rating of overweight and mean price target of $326.95, according to analysts polled by FactSet.Price: $307.62, Change: $-1.30, Percent Change: -0.42%

$AAPL
Update: Wall Street Gains Amid Amazon Rally as July Ends Mostly Lower
US Markets

Update: Wall Street Gains Amid Amazon Rally as July Ends Mostly Lower

(Updates with market moves at the end of the day, along with weekly and monthly index changes.)US equity indexes rose Friday as Amazon (AMZN) surged 15% post earnings, while Wall Street closed out July mostly lower.The Nasdaq Composite rose 1% to 25,373.85, while the S&P 500 climbed 0.7% to 7,489.72. The Dow Jones Industrial Average gained 0.5% to settle at 52,485.03. Among sectors, consumer discretionary was a standout gainer with its 6.1% advance, while materials saw the steepest drop of 2.7%.For the month of July, the Nasdaq shed 3.2% and the S&P 500 edged 0.1% lower, the second consecutive month of losses for both measures. The Dow added 0.3% to log its fourth straight monthly gain.All three indexes posted weekly gains, with the Nasdaq up 1.6%. The S&P 500 and the Dow climbed 1.1% and 1%, respectively.Amazon was the best performer on the Dow and the S&P 500. Late Thursday, the e-commerce giant reported second-quarter earnings above Wall Street's estimates amid a 37% jump in its Amazon Web Services cloud computing business."Amazon's (second-quarter) print was exactly what bulls wanted," RBC Capital Markets said in an emailed client note. "AWS' accelerating 37% growth beat the bogey, the backlog meaningfully accelerated and AWS's margin flow-through would suggest AI may not be the (return on invested capital) depressant it's been made out to be."Apple (AAPL) slumped 7.1%, the worst performer on the Dow and among the biggest declines on the S&P 500. The company missed market estimates for iPad and services revenue in its fiscal third quarter.Apple supply chain-related concerns could persist into fiscal 2027, UBS Securities said, after Chief Financial Officer Kevan Parekh flagged a worsening supply backdrop.West Texas Intermediate crude oil was up 1.1% at $84.52 a barrel in Friday late-afternoon trade, while Brent rose 1.2% to $90.12. Both benchmarks are set to close out July with monthly gains of more than 20%, following two consecutive monthly declines.Iran hit two tankers trying to transit the Strait of Hormuz under US military escort, CNBC reported, citing state run PressTV.Iran's army said Friday that it struck strategic US assets and military bases in Kuwait and Bahrain, following Washington's attacks against Iran, according to a separate CNBC report that cited state media.In other corporate news, oil giants Exxon Mobil (XOM) and Chevron (CVX) reported year-over-year gains in their second-quarter results as supply disruptions in the Middle East boosted oil prices. Exxon shares fell 1%, while Chevron rose 2.4%.Newell Brands (NWL) jumped 9% as its second-quarter earnings unexpectedly rose year over year on the back of tariff refunds, while the consumer products manufacturer returned to revenue growth for the first time in more than four years.Treasury yields were higher, with the 10-year rate up 5.5 basis points at 4.72%, while the two-year rate rose 3.3 basis points to 4.26%.The Federal Reserve may need to pursue an aggressive tightening cycle if it doesn't raise interest rates immediately to bring inflation down, the three dissenters at this week's monetary policy meeting said Friday.The central bank's 12-member Federal Open Market Committee maintained its benchmark rate on Wednesday, staying on hold for the fifth time. However, three regional Fed presidents -- Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas -- preferred to raise rates by a quarter percentage point.Spot gold declined 1.2% to $4,052.33 per troy ounce, while silver fell 1.6% to $58.08 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CVX$NWL$XOM
Apple's Supply Woes Likely to Continue Into Fiscal 2027, UBS Says
US Markets

Apple's Supply Woes Likely to Continue Into Fiscal 2027, UBS Says

Apple's (AAPL) supply chain-related concerns could persist into fiscal 2027, UBS Securities said, after Chief Financial Officer Kevan Parekh flagged a worsening supply backdrop.Late Thursday, the company reported strong results for a supply-constrained fiscal third quarter amid momentum in iPhone sales. It, however, missed estimates for iPad and services revenue.The results were in-line with UBS' expectations, but analysts including David Vogt noted that Apple faces "increasingly more difficult gross margin headwinds and supply chain challenges," according to a note sent Friday.Fourth-quarter revenue is expected to grow 9% to 11% year over year, Parekh said on an earnings call late Thursday. That indicates a sequential slowdown from 16% growth in the June quarter, and missed Wall Street's then-consensus estimate."We expect the impact from supply constraints to increase significantly sequentially" in the fiscal fourth quarter, affecting iPhone, Mac, and iPad, Parekh told analysts.UBS reiterated its neutral rating on the stock with a price target of $296. Apple's shares closed 7.4% lower at $308.91 on Friday.Apple and other technology giants are grappling with a global shortage of memory chips, which has sent component prices higher. Apple recently increased prices for MacBooks and iPads.UBS expects component costs to pressure gross margins in the September and December quarters.Average selling prices for dynamic random access memory and NAND are likely to increase 30% quarter-over-quarter, which, combined with a ramp in iPhone volume, could lower the December-quarter gross margin to 45.9% from 50.1% in the three months ended June, Vogt said.The fiscal third quarter's margin benefitted from tariff refunds, the brokerage said.

$AAPL

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