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We knew Apple's China market wasn't great. Jim Cramer said the stock could fall another 5% to $160 in its current run of bad form. Jim also maintained his "own it, don't trade it" Apple mantra because the stock is "one of the greatest performers of all times." Apple shares have shed roughly 14.5% from their all-time high of $199.62 each and nearly $3.1 trillion market value on Dec. 14, 2023. The CEO said Apple AI tech is already being used in the Vision Pro mixed reality headset's hand-tracking tool.
Persons: there's, Jim Cramer, Jim, we've, Tim Cook, we're, Cook, Cook's, Jim Cramer's Organizations: Apple, Research, Huawei, Starbucks, European, Big Tech, Barclays, Vision, Management, CNBC Locations: China
Apple hit with landmark $2 billion EU antitrust fine
  + stars: | 2024-03-04 | by ( Anna Cooban | ) edition.cnn.com   time to read: +2 min
London CNN —The European Union has fined Apple €1.84 billion ($2 billion) for breaking its competition laws. The bloc announced Monday that it would impose the fine — its first-ever antitrust penalty on the US tech giant — for preventing rival music streaming services such as Spotify from telling iPhone users that they could find cheaper ways to subscribe outside of Apple’s app store. The European Commission opened a formal antitrust investigation into Apple in 2020 after Spotify (SPOT) lodged a complaint against Apple the previous year, accusing it of unfairly disadvantaging its competitors. It said Apple required the Swedish music streamer and other content providers to pay a 30% fee on purchases made through Apple’s in-app payment system, while its own service, Apple Music, didn’t have to pay the fee. Spotify also said Apple prevented it from sharing information about subscription deals with customers who use iPhones.
Persons: Margrethe Vestager, ” Vestager Organizations: London CNN, European Union, Apple, Spotify, European Commission, Apple Music, Digital Markets, Big Tech Locations: Apple’s
Apple shares tumbled on Monday after European regulators hit the tech giant with a big antitrust fine over music streaming. The European Commission dished out a $1.95 billion fine — claiming Apple violated competition laws in the music streaming market. Apple and Spotify have rival audio streaming services. "New AI services should compel users to upgrade iPhones, driving a Supercycle in 2025," the analysts said in a note to clients Monday. Melius also sees upside to Apple Services due to AI-infused software features.
Persons: , Jim Cramer, Jim, Tim Cook, Apple, we're, Melius, Jim Cramer's, Scott Eells Organizations: Apple, European, European Union, Spotify, European Commission, Big Tech, Microsoft, Nvidia, Nvidia's, Huawei, India . Club, Apple Music, Research, Apple Services, CNBC, Nasdaq, Bloomberg, Getty Locations: Europe, American, China, India, New York
In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTwatch nowThe European Commission, the European Union's executive arm, on Monday hit Apple with a 1.8 billion euro ($1.95 billion) antitrust fine for abusing its dominant position on the market for the distribution of music streaming apps. Apple also banned developers of music streaming apps from providing any instructions about how users could subscribe to these cheaper offers, the Commission alleged. Apple responseIn a fiery response to the fine, Apple said Spotify would stand to gain the most from the EU pronouncement. That's because instead of selling subscriptions in their iOS app, Spotify sell them via their own website stead. Apple fine just a 'parking ticket'The Commission said that Apple prevented developers of music streaming apps from informing their iOS users within their apps about prices of subscriptions or offers available elsewhere.
Persons: Apple, , Margrethe Vestager, Vestager Organizations: European Commission, Apple, Commission, EU, U.S, Spotify, Apple Music Locations: Brussels, Stockholm, Sweden, Cupertino
"We are initiating coverage of Evolent Health with an Outperform rating and $45 price target." Goldman Sachs downgrades Estee Lauder to neutral from buy Goldman downgraded the stock and said it's under "sizeable pressure." "We are upgrading Annexon (ANNX shares) to Overweight from Neutral and establishing a December 2024 price target of $11." Bank of America reiterates Eli Lilly as buy Bank of America raised its price target on the stock to $1000 per share from $800. "Following 4Q23 earnings we are upgrading GoodRx from Neutral to Overweight and increasing our December 2024 price target from $7 to $10."
Persons: Davidson, Campbell, Morgan Stanley, JD, TD Cowen, Parker, Dell, Goldman Sachs, Goldman, Louise Singlehurst, Tom Ford, Jefferies, Root, AVGO's, Stephens, Vita Coco, COCO, Piper downgrades, Piper, Redburn, Oppenheimer, Daiwa, Morgan Stanley downgrades Flywire, Goldman Sachs downgrades Estee Lauder, Estee Lauder, Dwight, Wells, Eli Lilly, Lilly, D.A Organizations: Apple, Vulcan, Merck, Vertex Pharmaceuticals, Bank of America, Broadcom, York Community Bancorp, Netflix, Micron, Mizuho, MU, Citi, EV, Health, Nvidia, Dwight, Hewlett Packard Enterprises, JPMorgan, biosciences, " Bank of America Locations: York, Davidson, Oshkosh, Minneapolis , MN
Large-cap fund managers are starting to shy away from several of the biggest companies in the S&P 500, according to a recent report from UBS. By bailing on those three names and top performers like Nvidia (NVDA), money managers are swimming against the tide. That's why large-cap stock-pickers tend to fade the biggest companies, according to UBS. 10 stocks that fund managers loveBy contrast, fund managers' largest relative overweight positions are in sectors like industrials, financials, healthcare, and materials, Palfrey noted. Below are the 10 companies that are seeing the biggest improvements in sentiment from large-cap fund managers, as measured by the net number of funds adding positions to them.
Persons: Patrick Palfrey, Palfrey Organizations: UBS, Microsoft, Apple, Business, Nvidia
COST 5Y mountain Costco's stock performance over the past five years. DHR 5Y mountain Danaher's stock performance over the past five years. ETN 5Y mountain Eaton Corp.'s stock performance over the past five years. "The megatrends are real serious, and [Eaton] is a real serious company," Jim said. TJX 5Y mountain TJX Companies' stock performance over the past five years.
Persons: Jim Cramer, Jeff Marks, Morgan Stanley, Wall, Beijing's, Jim, Eaton, Linde, Lilly's, Eli Lilly, We've, Zepbound, Mark Zuckerberg's, Mark Zuckerberg, OpenAI, Copilot, management's, Nvidia, TJ Maxx, TikTok, Gen Zers, TJX, Jim Cramer's, Satya Narayana Nadella, Lucas Jackson Organizations: GE Healthcare, Meta, Microsoft, Johnson, Natural Resources, Starbucks, Apple, Apple Music, Services, Amazon, Amazon Web Services, Prime, Costco, Danaher, Eaton Corp, Investors, GE, LIN, Novo Nordisk's Wegovy, Novo Nordisk, Management, Nvidia, TJX Companies, Marshalls, CNBC Locations: Eaton, China, Manhattan, New York City
Many employees on the nearly 2,000-person team will be tasked to work on Apple's AI unit instead, Bloomberg said. There has been little public info about Apple's self-driving car ambitions, but reports first surfaced back in 2014 when the company poached automotive engineers from other firms. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Tim Cook, Bloomberg, Cook, we're, ChatGPT, Jim Cramer, Jim, Tesla, he's, it's, Apple's, Morgan Stanley, Siri, Jeff Marks, Jim Cramer's, Eduardo Munoz Organizations: Apple, Bloomberg News, Big Tech, General Motors, Club, Ford Motor, GM, Bloomberg, UBS, CNBC Locations: U.S, New York
Apple cancels work on an electric car, reports say
  + stars: | 2024-02-28 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +2 min
London CNN —Apple has abandoned decade-long efforts to build a self-driving electric car, according to multiple media reports, calling time on a project that some saw as potentially transformative for the auto industry. The news comes as electric vehicle (EV) sales have disappointed, prompting several major manufacturers to pull back on investments. Apple had been hiring automotive executives since at least 2014 and, in April 2017, it received a permit from the California Department of Motor Vehicles to test self-driving vehicles. Two years later, it acquired Drive.ai, a self-driving car startup. In 2020, Morgan Stanley analysts said an Apple car had the potential to be “a transformative event” for the automobile and mobility industry in the coming decades, much as the iPhone disrupted the mobile phone industry.
Persons: London CNN —, Morgan Stanley Organizations: London CNN, London CNN — Apple, Bloomberg, CNN, Apple, California Department of Motor Vehicles, BMW
Apple is probably shutting down its electric car project in favor of some big bets on artificial intelligence, according to UBS. AAPL YTD mountain Apple shares this year The UBS report came after Bloomberg reported on Tuesday that the iPhone maker is reportedly axing its decade-long venture to build an electric vehicle. Among the potential upcoming AI announcements, Vogt is bracing for Apple CEO Tim Cook to debut a new processor in the iPhone 16 supporting AI, and a new AI or large language model feature on the iOS 18 operating system. UBS also anticipated updates to "Siri" and "Messages" that would enable new features, such as summaries of incoming texts. There are some financial downsides to Apple in halting its car venture, Vogt said.
Persons: David Vogt, Vogt, Tim Cook, Siri, — CNBC's Michael Bloom Organizations: Apple, UBS, company's, Bloomberg
Here's a lower-cost bet using options that Apple could catch up. However, there's a caveat: if the RSI fails to turn upwards, this trade set-up would be invalidated. The trade To take a bullish trade on AAPL, the trade structure I have used here is called a "bull call spread". Here is my exact trade setup: Buy $180 call, Mar. 22nd expiration Sell $185 call, Mar.
Persons: I've, AAPL, Nishant Pant Organizations: Nasdaq, Apple, Mar Locations: Here's, AAPL
So-called Magnificent Seven stocks Apple , Alphabet and Tesla may no longer be living up to that title, according to Wolfe Research. "It's really more like the Mag 4 or Fab 4 these days," Wolfe Research managing director Rob Ginsberg wrote Monday. " The meteoric rise of the "Magnificent Seven" stocks — Apple, Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia and Tesla — lifted the S & P 500 to a 24.2% gain in 2023. But Ginsberg said Apple, Alphabet and Tesla are ripe for exclusion from the Magnificent Seven. AAPL YTD mountain Apple shares in 2024 Apple shares have slipped roughly 10% from their December 2023 high, Ginsberg said, and they are off by about 6% in 2024.
Persons: Wolfe, Rob Ginsberg, Evelyn, Ginsberg, Tesla Organizations: Wolfe Research, Microsoft, Nvidia, Tesla, Evelyn Partners, Dow, Apple
The market value of companies listed on India’s exchanges crossed $4 trillion in late November. But the country is stuck in recession and recently lost its position as the world’s third biggest economy to Germany. While interest in the world’s fifth largest economy is rising, the lofty prices of India’s stocks are scaring some international investors away. According to Macquarie, retail investors alone own 9% of India’s equity market value versus foreign investors at slightly under 20%. China “has a few too many companies which are $100 and $200 billion plus [in value],” Mittal said.
Persons: Peeyush Mittal, there’s, , Mittal, They’ve, Narendra Modi, Indranil Mukherjee, Jefferies, , MSCI, Aditya Suresh, Modi’s, Modi, there’ll, ” Suresh, shoring, Hubert de Barochez, Elon Musk, India “, ” Musk, Suresh, Satish Babu, China “, ” Mittal, Priyanka Agnihotri, Nirmala Sitharaman Organizations: New, New Delhi CNN —, Matthews Asia, Getty, Macquarie Capital, Bharatiya Janata Party, Monetary Fund, Jefferies, Capital Economics, Apple, Foxconn, , Workers, Chennai Metro Rail, Advisory, Indian Locations: New Delhi, Jaipur, San Francisco, India, China, Shanghai, Shenzhen, Hong Kong, Japan, Germany, Beijing, Washington, “ India, Macquarie, Chennai, Baltimore
CNBC Daily Open: AI fervor takes over Wall Street
  + stars: | 2024-02-26 | by ( Sumathi Bala | ) www.cnbc.com   time to read: 1 min
In this article AAPLMCOSPGI Follow your favorite stocks CREATE FREE ACCOUNTCostFoto | Nurphoto | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to know todayThe bottom line
Organizations: Nurphoto, CNBC
Both companies later breached $3 trillion in market valuation, but, as of Friday, only Microsoft remains above it, at roughly $3.07 trillion. Apple's market cap stands at around $2.8 trillion. After more than tripling in 2023, Nvidia's stock has soared more than 60% already in 2024. In February alone, Nvidia's market cap has swelled by nearly $500 billion. At that time, Nvidia's market cap stood at $583.5 billion.
Persons: ChatGPT, , Microsoft —, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Tom Williams Organizations: Nvidia, Apple, Microsoft, Exxon Mobil, Google, CNBC, CQ, Inc, Getty Locations: U.S
Apple releases free new sports app for iPhone
  + stars: | 2024-02-21 | by ( Kif Leswing | ) www.cnbc.com   time to read: +5 min
The app, called Apple Sports, does one thing well: show sports scores from all the major teams and leagues. Apple services chief Eddy Cue said the company designed the app to be fast and simple for multiple quick checks per day. This new app, which won't come pre-installed on iPhones, is tightly integrated with Apple's other Services apps, such as the TV app and News app. It works for sports Apple carries, as well as games on streaming services that are connected to the Apple TV app, many of which still require a cable subscription but will increasingly be available from over-the-top streamers. Apple will also have features that will allow users to follow college basketball's March Madness tournament in the app, Cue said.
Persons: Aaron Judge, Roger Maris, Eddy Cue, incentivized, there's, it's Organizations: York Yankees, Texas Rangers, New York Yankees, Globe Life, Getty, Apple Sports, Major League Soccer, Apple, Super, Major League Baseball, Golden State Warriors, New England Patriots, Apple Apple, National Football League, YouTube, CNBC, National Basketball Association . Apple, Google, Apple News, Duke, Hollywood, Sports, MLB NFL NCAA, WNBA MLS, NCAA, NHL Bundesliga, Liga, Ligue, League Serie Locations: York, Arlington , Texas, U.S, Canada
Just consider three core holdings in the portfolio: Apple , Starbucks , and Nvidia . Nvidia generates 21% of its overall revenue from Mainland China, while Apple gets 19%, and Starbucks 9%. Xiamen-based Luckin Coffee, for example, overtook Starbucks in market share in China during 2023, with double the retail locations there. However, Nvidia still dominates the AI chip market in China, and it's difficult to see its rivals catching up anytime soon. The company has twice re-engineered chips for the Chinese market to comply with U.S. rules.
Persons: Joe Biden's, Xi Jinping, Oppo, Jefferies, Tim Cook, Laxman Narasimhan, Tencent, Jim Cramer's, Jim Cramer, Jim Organizations: U.S, Apple, Nvidia, Starbucks, Competition, Huawei, International Data Corporation, IDC, CNBC, Luckin, China, Management, Tech Locations: China, Beijing, Washington, U.S, Mainland China, People's Republic, India, Xiamen
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Demand for Palo Alto's services, for example, will continue to rise as hacking threats intensify from overseas. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Nikesh Arora, Wells, Jim Cramer's, Jim Organizations: CNBC, Investors, Big Tech, Nasdaq, Laggards, Nvidia, Apple, Procter, Gamble, Palo Alto Networks, Palo, Currency Locations: Wells
Megacap tech stocks aren't just powering the U.S. stock market — they're also holding the world together. U.S. equities now comprise 70% of the MSCI World Index, the benchmark for large- and mid-cap companies across 23 developed markets. The MSCI World Index shifts regional and country weights based on broader economic trends. High levels of market concentration in the late 1920s to early 1930s, as well as 2000, coincided with a market top, he noted. The Europe Stoxx 600 has risen only 2.6% year to date, underperforming the U.S. broad market index.
Persons: Goldman Sachs, Scott Rubner, Peter Berezin, Berezin, NVDA, Phillip Colmar, that's, Mike Dickson, Dickson, Warren Buffett's, Colmar, It's, you've, Germany DAX Organizations: Apple, Microsoft, Nvidia, BCA Research, Big Tech, MRB Partners, Horizon Investments, Nikkei, British FTSE, France CAC Locations: U.S, Europe, Colmar, Japan, Asia, Germany, France
Just days after delivering a stellar quarter, Microsoft CEO Satya Nadella was on a whirlwind speaking tour throughout India. The Indian market also represents a largely untapped market that will diversify revenue streams. Over the summer, India became Amazon's first market in Asia to launch its dedicated virtual cargo airline , dubbed Amazon Air. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Satya Nadella, Morgan Stanley, Chetan Ahya, Ahya, Bernstein, Nadella, Zev Fima, Fima, Tim Cook, Amazon, Sundar Pichai, Jim Cramer's, Jim Cramer, Jim Organizations: Microsoft, Apple, country's Ministry, Skill Development, Entrepreneurship, Club, Foxconn Technology, Media, Amazon, Walmart, Web Services, Google, CNBC Locations: India, Mumbai, Bengaluru, New Delhi, China, Asia, United States, Chennai, Puna, Hyderabad, Tamil Nadu, India's, Gujarat
The cup-and-handle (also known as a cup-with-handle) pattern occurs when you have a rounded basing pattern after a rally phase. Then, in December 2023, both stocks retested their July peak, which formed the cup of this pattern. If this level would fail to hold, then we'll have one more Magnificent 7 stock in a confirmed bearish phase. What concerns me most about these patterns popping up is not just that it suggests caution for these two technology stocks, which I believe it does. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: MCHP, David Keller Organizations: Nvidia Corp, Tesla Inc, Apple Inc, Apple, Technology Inc, Technology, David Keller https
Here are Thursday's biggest calls on Wall Street: Macquarie downgrades Sony to neutral from buy Macquarie said it sees a more balanced risk/reward for the entertainment company. "With Sony near our target price and market expectations at risk given lacklustre FY3/25 guidance, we are downgrading to Neutral." Deutsche Bank reiterates Rocket Lab as a top pick Deutsche said it's standing by its bullish status on the space company. " Bank of America initiates Super Micro as buy Bank of America said the server and storage solutions company is an AI beneficiary. Bank of America reiterates Uber as buy Bank of America said it's feeling more bullish after the company's investor day.
Persons: Macquarie, Davidson, DA, Piper Sandler, Piper, KeyBanc, Evercore, Skechers, Price, Bernstein, underperform Bernstein, Redburn, Eastman, Morgan Stanley, Wells, Morgan Stanley downgrades, Guggenheim, Generac, Uber, Tesla, KBW, Berkshire Hathaway Organizations: Macquarie, Sony, JPMorgan, Deutsche Bank, Deutsche, Nvidia, Citi, FedEx, Apple, HSBC, GE Healthcare, GE, Crypto, UBS, Downside, Eastman Chemical, Comcast, Cisco, Cliffs, Steel, " Bank of America, Air Products, of America, Linde, Bank of America, Micro, Inc, Guggenheim, Mizuho, Energy, BMO, CNBC, & $ Locations: Nashville, China, Morgan Stanley downgrades Cleveland
JPMorgan upgrades Lowe's to overweight from neutral JPMorgan said investors should buy the stock ahead of earnings later this month. JPMorgan reiterates Netflix as overweight JPMorgan said it's standing by its overweight rating on shares of Netflix. Loop reiterates Meta as buy Loop raised its price target on the stock to $550 per share from $440. Loop reiterates Alphabet as hold Loop raised its price target on the stock to $155 per share from $140. " UBS reiterates Target as buy UBS says Target shares are "compelling."
Persons: Evercore, it's, wouldn't, Rivian, Piper Sandler, Piper, Jefferies, Willis Towers Watson, URBN, Morgan Stanley downgrades Hershey, Morgan Stanley, Morgan Stanley downgrades XPO, Stifel, Raymond James downgrades, Raymond James, Melius, Roth, Guggenheimer, Guggenheim Organizations: Apple, Barclays, Walmart, EV, JPMorgan, generics, UFC, WWE, Netflix, Citi, Willis, PepsiCo, PEP, LT, UBS, Urban Outfitters, Google, 4Q, Bulls, Target, Bank of America, of America, Bank of America downgrades Duke Energy, Duke Energy, Brands, Nvidia, Deutsche Bank, Industries, Deutsche, SilverBow Resources Locations: U.S, Bank of America downgrades, NWL, Republic, Mohawk
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer said Monday equities are in a "flop and chop mode" following record highs from the S & P 500 and the Dow . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, Jim Cramer's Organizations: CNBC, Traders, Federal Reserve, Dow, Nvidia, Melius Research, UBS, GE Healthcare
CNBC Daily Open: Banking fears stir once again
  + stars: | 2024-02-08 | by ( Sumathi Bala | ) www.cnbc.com   time to read: 1 min
In this article AAPLMCO Follow your favorite stocks CREATE FREE ACCOUNTA sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024. Mike Segar | ReutersT his report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. You can subscribe here. What you need to know todayThe bottom line
Persons: Mike Segar Organizations: New York Community Bank, Reuters, CNBC Locations: Yonkers , New York, U.S
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