Dow falls 400 points, dragged down by Apple

Stocks fell sharply Monday, dragged down by reports that Apple's newest line of phones may not be selling as well as #Apple or its investors had hoped.

The Dow fell 400 points and the Nasdaq tumbled 2.7%.

Apple's stock fell once more after the Wall Street Journal reported that Apple has cut orders for its iPhone XR, iPhone XS, and iPhone XS Max.

The new iPhones, which Apple unveiled in September, cost more than previous versions. The $749 iPhone XR is the least expensive new iPhone, but it costs $50 more than last year's cheapest model, the iPhone 8.

The iPhone XS Max can cost up to $1,449. The higher prices -- without many more features -- could be driving customers to keep their current phones longer or buy last year's models.

Apple declined to comment about the Journal story or broader concerns about iPhone demand.
Shares of Apple fell 4% and have now plunged about 20% from the all-time high it hit a few months ago when Apple (AAPL) was worth more than $1 trillion.
The stock ended a 5-day losing skid on Friday after an analyst at Morgan Stanley suggested that the supplier concerns are overdone.

Apple, which is a member of the Dow, was hurting the blue chips too.
Several makers of chips and other components used in iPhones have warned of soft sales and profit in recent weeks, citing sluggish demand for higher-end smartphones.

To that end, shares of Apple suppliers, such as Qorvo (QRVO), Broadcom (AVGO), Cirrus Logic (CRUS) and even Apple's key Android phone rival Samsung were all lower Monday too. Samsung also makes chips for iPhones.
Investors have other reasons to be concerned about the future of Apple -- as well as other big tech companies for that matter.

Apple CEO Tim Cook said on the "Axios on HBO" show Sunday that he expects Washington to crack down on tech firms in the wake of high-profile privacy scandals, such as the Cambridge Analytica problems that have plagued Facebook (FB).

"I am not a big fan of regulation," Cook said to Axios on HBO. "I'm a big believer in the free market. But we have to admit when the free market is not working. And it hasn't worked here. I think it's inevitable that there will be some level of regulation."

HBO, like CNN, is part of WarnerMedia, which is owned by AT&T (T).
By Paul R. La Monica, CNN Business, November 19, 2018

Comments

L.A. will rename Rodeo Road as Obama Boulevard in tribute to former president

The Los Angeles City Council voted to rename Rodeo Road as Obama Boulevard in honor of former President Obama, Mayor Eric Garcetti announced in a tweet Tuesday night. “We’re thrilled that Angelenos and visitors will forever be reminded of the legacy of President @BarackObama when traveling across L.A.,” he said in the tweet. City Council President Herb Wesson proposed the name change in June 2017. Los Angeles is renaming Rodeo Rd. to Obama Boulevard in honor of former president Barack Obama. pic.twitter.com/UwzXxU6tHA — AJ+ (@ajplus) August 29, 2018 Not to be confused with the upscale Rodeo Drive in Beverly Hills, Rodeo Road is a 3.5-mile street that runs from near the Culver City border east to Mid-City. In his proposal, Wesson noted that Obama held a campaign rally at Rancho Cienega Park on Rodeo Road when running for president and that the area already has streets named after presidents, such as George Washington and Thomas Jefferson. It’s offic...

Why Christopher Reeve's ''Superman' Is So Hard to Leave in the Past

#ChristopherReeve #Clarkkent #DCcomics #LoisLane #RichardDonner #Superman Forty years ago, Richard Donner and Christopher Reeve made a Superhero film that directors have been chasing for years, depicting who America was then — or at least who we wished to be Superman. It’s now easy to believe a man can fly. It wasn’t in 1978, but today, in midst of an explosion of superhero movies, it’s a belief we give into with relative ease. Flight is most often the bare minimum of what we expect from heroes and villains who can perform any feat limited only by the human imagination. It’s not simply special effects that permit our belief, but rather an overall acceptance that these costume-clad characters are a defining part of our culture, modern myths at their best and populist cinematic staples akin to the 20th century western at their lowest form. There have been a record nine theatrically released superhero movies based on comic books this year alone, each claiming a major piece of the glo...

Valio La Pena (Salsa Version) Marc Anthony (video)

#MarcAnthony #Music #Salsa #ValioLaPena Vídeo oficial de Marc Anthony de su tema 'Valio La Pena (Salsa Version) Valio La Pena [Salsa Version]" by and Jose Luis/salgado Pagan. Mirándote a los ojos se responden mi por qué Me inspiro en tus palabras y mi casa esta en tu piel Que tierno amor, mi devoción, viniste a ser mi religión Mi dulce sentimiento de nada me arrepiento Que vivan los momentos en tu boca y en tu cuerpo Mujer Valió la pena lo que era necesario para estar contigo amor Tu eres una bendición Las horas y la vida de tu lado nena Están para vivirlas pero a tu manera Enhorabuena, porque valió la pena Valió la pena Valió la pena lo que era necesario para estar contigo amor Tu eres una bendición Las horas y la vida de tu lado nena Están para vivirlas pero a tu manera Enhorabuena, porque valió la pena Valió la pena, valió la pena Valió la pena, nena Te veo y me convenzo que tenias que llegar Después de la tormenta aquí en tu pe...

HyperLoop555

Search This Blog