Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the


Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the
Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers.

Chipmaker Samsung tumbled 2.29 percent, Sunny Optical, which makes some of the lenses for Huawei phones, fell 5.47 percent and AAC Technologies declined 5.59 percent on the day. Chinasoft International, where Huawei is a strategic shareholder, dropped 11.71 percent.

Shares of Nikkei heavyweight SoftBank Group fell 4.93 percent. Last year, SoftBank and Huawei jointly demonstrated potential use of the next generation of high-speed mobile internet; SoftBank is taking its mobile unit public on Dec. 19.

The negative sentiment rippled through the broader Japanese tech sector, with shares of Tokyo Electron down 4.54 percent, Advantest falling 5.30 percent and TDK Corp dropping 6.64 percent.

Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. Asia’s Apple suppliers, in general, saw Thursday declines.

Analysts at Jefferies pointed out that Huawei has a major global presence in various technology areas such as telecommunications equipment, semiconductors, smartphones and cloud computing. It also represents a major growth driver for many tech manufacturers.

Huawei’s Meng, who is the daughter of the company’s founder, faces extradition to the U.S., according to Canada’s Department of Justice.

While the arrest represents a new escalation in American efforts to hold Chinese companies accountable for violation of U.S. laws, it is likely to elicit an angry reaction from Beijing, according to Eurasia Group.

“The investigation of Huawei could be a prelude to further action against the firm and its senior officials,” the Eurasia Group analysts said, adding that if the U.S. places a sudden ban on Huawei equipment, like it did with ZTE, the impact would be much greater.

“Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said.

ZTE shares listed in Hong Kong were down 5.94 percent on the day.

Both Huawei and ZTE are restricted from selling telecoms equipment in the U.S. due to what the U.S. describes as national security concerns.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


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US futures point to slight recovery after Tuesday’s market rout

S&P 500 and Nasdaq 100 futures also pointed to slight gains. In after-hours trading, the SPDR S&P 500 ETF Trust (SPY) rose about 0.28 percent. The Dow Jones Industrial Average plunged 799.36 points earlier on Tuesday, while the S&P 500 dropped more than 3 percent. The CBOE Volatility Index, popularly known as the VIX, leaped about 26.16 percent to 20.74. The VIX measures implied volatility on S&P 500 index options.


S&P 500 and Nasdaq 100 futures also pointed to slight gains. In after-hours trading, the SPDR S&P 500 ETF Trust (SPY) rose about 0.28 percent. The Dow Jones Industrial Average plunged 799.36 points earlier on Tuesday, while the S&P 500 dropped more than 3 percent. The CBOE Volatility Index, popularly known as the VIX, leaped about 26.16 percent to 20.74. The VIX measures implied volatility on S&P 500 index options.
US futures point to slight recovery after Tuesday’s market rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, tuesdays, point, sp, points, futures, 500, president, index, volatility, market, yield, nasdaq, rout, recovery, weekend, slight


US futures point to slight recovery after Tuesday's market rout

U.S. stock futures on Tuesday evening stateside pointed to a slight rebound from the steep losses seen in regular trading.

Dow Jones Industrial Average futures climbed 43 points, indicating a gain of 46.93 points at Thursday’s open as at 10:44 p.m. ET. S&P 500 and Nasdaq 100 futures also pointed to slight gains. The U.S. stock market will be closed on Wednesday out of respect for former President George H.W. Bush’s funeral.

In after-hours trading, the SPDR S&P 500 ETF Trust (SPY) rose about 0.28 percent. Meanwhile, the Invesco QQQ Trust — which tracks the Nasdaq 100 index — gained around 0.37 percent.

The Dow Jones Industrial Average plunged 799.36 points earlier on Tuesday, while the S&P 500 dropped more than 3 percent. The Nasdaq Composite, meanwhile, fell 3.8 percent to close in correction territory.

The yield on the three-year Treasury note surpassed its five-year counterpart on Monday. When a so-called yield curve inversion happens — short-term yields trading above longer-term rates — a recession could follow, though it is often years away after the signal triggers.

Stocks began falling to their lows of the day after Jeffrey Gundlach, CEO of Doubleline Capital, told Reuters this inversion signals that the economy “is poised to weaken.”

Some bond experts, however, have said it may not be time to panic yet.

While inversions have been reliable recession indicators in the past, the most important relationship — between the 3-month and 10-year government notes — is not inverted and thus hasn’t indicated the likelihood of a contraction ahead.

The market concerns were further exacerbated by confusion surrounding the agreement that was struck between U.S. President Donald Trump and Chinese President Xi Jinping over the weekend at the G-20 summit in Buenos Aires, Argentina.

The two economic powerhouses have been locked in an ongoing trade war, which has continued to rock global markets for much of 2018.

While the U.S. and China agreed over the weekend to hold off on any additional tariffs on each other’s goods, there have been conflicting messages coming from within the White House as well as differing opinions from Trump, Washington and Beijing over the actual details of the agreement.

The CBOE Volatility Index, popularly known as the VIX, leaped about 26.16 percent to 20.74. The VIX measures implied volatility on S&P 500 index options. It had earlier hit a high of 21.94 — its highest levels since Nov. 23 when it touched a high of 22.65.

— CNBC’s Fred Imbert and Jeff Cox contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
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The FAANG stocks shed $140 billion in Tuesday’s market rout

In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday. Here’s how it shook out:Facebook fell 2.2 percent, losing $7.6 billion in implied market valueAmazon fell 5.9 percent, losing $50.8 billion in implied market valueApple fell 4.4 percent, losing $38.5 billion in implied market valueNetflix fell 5.2 percent, losing $6.5 billion in implied market valueAlphabet fell 4.8 per


In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday. Here’s how it shook out:Facebook fell 2.2 percent, losing $7.6 billion in implied market valueAmazon fell 5.9 percent, losing $50.8 billion in implied market valueApple fell 4.4 percent, losing $38.5 billion in implied market valueNetflix fell 5.2 percent, losing $6.5 billion in implied market valueAlphabet fell 4.8 per
The FAANG stocks shed $140 billion in Tuesday’s market rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: sara salinas, april greer, the washington post, getty images
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The FAANG stocks shed $140 billion in Tuesday's market rout

In total, the so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet-owned Google — shed more than $140 billion in market value by the end of the trading Tuesday.

Here’s how it shook out:

Facebook fell 2.2 percent, losing $7.6 billion in implied market value

Amazon fell 5.9 percent, losing $50.8 billion in implied market value

Apple fell 4.4 percent, losing $38.5 billion in implied market value

Netflix fell 5.2 percent, losing $6.5 billion in implied market value

Alphabet fell 4.8 percent, losing $37.5 billion in implied market value

The losses extend pain periods for Apple, which has seen downturn in recent weeks, and Facebook, which is suffering a down year on the heels of several scandals. Amazon and Netflix, though, are each up more than 40 percent year-to-date despite getting caught in the rout.

With Tuesday’s losses, Alphabet is hanging onto modest year-to-date gains, up just 0.8 percent in 2018.

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Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: sara salinas, april greer, the washington post, getty images
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A look at past declines in Apple’s stock indicates this rout has further to go

Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.” “Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said. “We should note that neither our current est


Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.” “Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said. “We should note that neither our current est
A look at past declines in Apple’s stock indicates this rout has further to go Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: michael sheetz, bernd thissen, afp, getty images
Keywords: news, cnbc, companies, rout, sacconaghi, look, declines, estimates, indicates, cycle, apples, past, stock, wall, earnings, current, iphone, streets


A look at past declines in Apple's stock indicates this rout has further to go

Apple shares have lost more than quarter of their value in less than two months, but one of Wall Street’s top analysts on the stock explained why history is against a turnaround any time soon.

“Sell-side estimates have only been revised downwards by -0.8% so far, and history suggests that the stock is unlikely to inflect until estimates stop coming down,” Bernstein’s Toni Sacconaghi said in a note to investors Wednesday.

Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. The three downturns Sacconaghi identified are tied to the life cycle of iPhone products: The iPhone 5, the iPhone 6S and the beginning of the iPhone X. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.”

“Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said.

Apple’s full year 2019 earnings are about $12.34 a share when comparing the current product cycle to the iPhone 6S cycle in 2016, according to Sacconaghi. Those earnings would be about 7 percent below Wall Street’s current consensus for next year, Sacconaghi said.

Bernstein’s analysis does not include any potential hits to Apple from tariffs. The company’s stock slid on Tuesday after President Donald Trump suggested the U.S. could place a 10 percent tariff on iPhones and laptops made in China.

“We should note that neither our current estimates nor our downside scenario incorporates any potential impact from tariffs,” Sacconaghi said.

Apple shares have fallen more than 20 percent this month as of Tuesday’s close of $174.24 a share.

Bottom line: Until analysts are done cutting their earnings expectations on the stock, expect more weakness.

WATCH: Apple’s stock is plunging – Here’s what six experts say investors should know


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: michael sheetz, bernd thissen, afp, getty images
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Apple’s November rout worsens after Trump says US could place 10% tariff on iPhones

Apple shares fell in Tuesday’s premarket, a day after President Donald Trump suggested the U.S. could place a 10 percent tariff on iPhones and laptops made in China. Trump told The Wall Street Journal that “people could stand” that tariff rate “very easily.” Apple’s products are exempt from the tariffs,but that could change when Trump adds another $267 billion worth of tariffs on Chinese goods. Bernstein analyst Tony Sacconaghi broke down Apple’s revenue, saying on CNBC’s “Squawk Box” that “25 p


Apple shares fell in Tuesday’s premarket, a day after President Donald Trump suggested the U.S. could place a 10 percent tariff on iPhones and laptops made in China. Trump told The Wall Street Journal that “people could stand” that tariff rate “very easily.” Apple’s products are exempt from the tariffs,but that could change when Trump adds another $267 billion worth of tariffs on Chinese goods. Bernstein analyst Tony Sacconaghi broke down Apple’s revenue, saying on CNBC’s “Squawk Box” that “25 p
Apple’s November rout worsens after Trump says US could place 10% tariff on iPhones Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: michael sheetz
Keywords: news, cnbc, companies, chinese, trump, sacconaghi, 25, shares, rout, tariffs, apples, tariff, revenue, place, saying, iphones, worsens


Apple's November rout worsens after Trump says US could place 10% tariff on iPhones

Apple shares fell in Tuesday’s premarket, a day after President Donald Trump suggested the U.S. could place a 10 percent tariff on iPhones and laptops made in China.

Trump told The Wall Street Journal that “people could stand” that tariff rate “very easily.”

Apple shares, which are already down 20 percent this month, fell by 1.8 percent in premarket trading Tuesday.

Trump also said it is “highly unlikely” he would delay an increase in overall tariffs at the beginning of next year to 25 percent from 10 percent. Trump is scheduled to meet with Chinese President Xi Jinping in three days at the G-20 summit.

Apple’s products are exempt from the tariffs,but that could change when Trump adds another $267 billion worth of tariffs on Chinese goods.

Bernstein analyst Tony Sacconaghi broke down Apple’s revenue, saying on CNBC’s “Squawk Box” that “25 percent of Apple’s revenue, call it $50 billion, would be subject to a 10 or 25 percent tariff.”

If Trump continues to raise tariffs on Chinese goods, Sacconaghi said, the biggest question is “how is China going to respond?”

“Could they try to disrupt Apple’s supply chain in some way? Could they not authorize new phones for sale in the country? There are many things that China could do and that could ultimately be even more devastating,” Sacconaghi said.

Elsewhere on Tuesday, RBC Capital Markets lowered its Apple price target to $235 a share, saying there are “sustained datapoints around soft iPhone demand from supply-chain and others.”

“While AAPL stock has substantially corrected (down 21% since the company reported vs. S&P500 down 2%), we think investors will wait for datapoints/noise level to stabilize before getting more positive on the name,” RBC’s Amit Daryanani said in a note to investors.

Watch: Steve Jobs explains the iPhone to CNBC in 2007


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: michael sheetz
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Hedge-fund veteran who called recent rout says selling is just getting started

The stock market sell-off is far from over, hedge-fund veteran Mark Yusko told CNBC on Tuesday. The volatile market has seen indexes hit lows not seen in years. During the October sell-off, Yusko said the downward momentum has started. One place is emerging markets, which are “really, really cheap.” They have “great cash flows, rising volumes, great yields,” Yusko said.


The stock market sell-off is far from over, hedge-fund veteran Mark Yusko told CNBC on Tuesday. The volatile market has seen indexes hit lows not seen in years. During the October sell-off, Yusko said the downward momentum has started. One place is emerging markets, which are “really, really cheap.” They have “great cash flows, rising volumes, great yields,” Yusko said.
Hedge-fund veteran who called recent rout says selling is just getting started Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: michelle fox
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Hedge-fund veteran who called recent rout says selling is just getting started

The stock market sell-off is far from over, hedge-fund veteran Mark Yusko told CNBC on Tuesday.

In fact, he sees a “long path” down between now and 2020.

“This year is going to continue to melt slowly, like a melting ice cube. I think next year, with the economic slowdown, it gets worse — probably double-digit drawdown. The big year is 2020, when the credit bubble starts to blow up,” he said on “Fast Money.”

Yusko is the founder, CEO and chief investment officer of Morgan Creek Capital. The firm is a privately owned investment advisor that provides services to institutional clients as well as pension plans, endowments, foundations and family offices.

“Every company has binged on cheap debt. They’ve over-levered,” Yusko added. “We are going to see a lot of defaults, just like 2002 with Enron and Worldcom. I think it’s going to get ugly.”

U.S. equities are heading to the end of the year with the possibility of ending in negative territory. The S&P 500 is up just 0.32 percent for the year, as of Tuesday’s close.

The volatile market has seen indexes hit lows not seen in years. Stocks had their worst Thanksgiving week since 2011, and in October the Dow Jones Industrial Average ended down 5.1 percent for the month, its biggest one-month fall since January 2016.

During the October sell-off, Yusko said the downward momentum has started. “You’re seeing all the sectors start to roll over one by one,” he said at the time. “It is really hard to make a bullish case at this point.”

However, there are places to hide, he said Tuesday. One place is emerging markets, which are “really, really cheap.” Another is master limited partnerships, or MLPs. They have “great cash flows, rising volumes, great yields,” Yusko said.

He also loves bitcoin long-term. Morgan Creek rolled out a cryptocurrency fund in August.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: michelle fox
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Apple’s stock rout starts and ends with the iPhone

The stock, once a safe haven from market turmoil, is more than 20 percent below all-time highs and clinging to modest year-to-date gains. It’s on pace for its eighth straight week of declines and its worst month of trading since the 2008 financial crisis. The company also announced it will stop reporting individual unit sales and revenue figures for the iPhone. The stock fell another 5 percent last week after at least four iPhone suppliers slashed revenue forecasts. Apple’s no stranger to supply


The stock, once a safe haven from market turmoil, is more than 20 percent below all-time highs and clinging to modest year-to-date gains. It’s on pace for its eighth straight week of declines and its worst month of trading since the 2008 financial crisis. The company also announced it will stop reporting individual unit sales and revenue figures for the iPhone. The stock fell another 5 percent last week after at least four iPhone suppliers slashed revenue forecasts. Apple’s no stranger to supply
Apple’s stock rout starts and ends with the iPhone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: sara salinas, adam jeffery, magdalena petrova
Keywords: news, cnbc, companies, rumors, sales, trading, ends, rout, revenue, iphone, straight, apple, apples, week, supply, stock, starts


Apple's stock rout starts and ends with the iPhone

Apple is snapping.

The stock, once a safe haven from market turmoil, is more than 20 percent below all-time highs and clinging to modest year-to-date gains. The stock has shed more than a $100 billion of its historic $1 trillion market valuation. It’s on pace for its eighth straight week of declines and its worst month of trading since the 2008 financial crisis.

And it all starts with the iPhone.

On Nov. 1, alongside Apple’s fiscal fourth-quarter earnings, the company reported lower-than-expected iPhone shipments for the fourth straight quarter and warned of lighter holiday sales than analysts expected. The company also announced it will stop reporting individual unit sales and revenue figures for the iPhone.

Shares plunged 6.6 percent during the next trading session.

Then came the supply chain rumors and speculation that Apple was cutting component orders for its newest iPhones. The stock fell another 5 percent last week after at least four iPhone suppliers slashed revenue forecasts.

“This is as negative sentiment as I’ve seen from investors on Apple since maybe 2014, 2015,” Dan Ives, managing director of equity research at Wedbush Securities, told CNBC in an interview. “Every bear is coming out of hibernation … At this point the New York City taxi driver is negative on Apple.”

Apple’s no stranger to supply chain rumors, and it’s been battling a slowdownin its iPhone segment for several quarters.

But it’s the “litany of bad news,” the severity of reports, and the absence of any encouraging data points ahead of the company’s next earnings report in January that’s weighing on shares, Ives said.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: sara salinas, adam jeffery, magdalena petrova
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Tech’s popular ‘FAANG’ stocks have lost $945 billion and counting from highs amid tech rout

Facebook shares have slid 40 percent from their highs, as the company has been the hardest hit of the FAANG stocks. Amazon shares continue a fall begun when it gave a fourth-quarter outlook on Oct. 25 which was much lower than expected. Netflix and Alphabet shares, meanwhile, have largely fallen in lockstep with the rest of the FAANG stocks. Facebook and Alphabet each hit their 52-week highs in July, at $218.62 a share and $1291.44 a share, respectively. Amazon and Apple were the most recent to


Facebook shares have slid 40 percent from their highs, as the company has been the hardest hit of the FAANG stocks. Amazon shares continue a fall begun when it gave a fourth-quarter outlook on Oct. 25 which was much lower than expected. Netflix and Alphabet shares, meanwhile, have largely fallen in lockstep with the rest of the FAANG stocks. Facebook and Alphabet each hit their 52-week highs in July, at $218.62 a share and $1291.44 a share, respectively. Amazon and Apple were the most recent to
Tech’s popular ‘FAANG’ stocks have lost $945 billion and counting from highs amid tech rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: michael sheetz
Keywords: news, cnbc, companies, lost, faang, 52week, counting, hit, stocks, highs, xr, popular, share, shares, netflix, alphabet, apple, techs, billion, rout, tech


Tech's popular 'FAANG' stocks have lost $945 billion and counting from highs amid tech rout

Goldman Sachs slashed its Apple price target on Tuesday. The firm said in a note there is a “weakness in demand for Apple’s products in China and other emerging markets,” as well as a disappointing reception for the iPhone XR model.

Facebook shares have slid 40 percent from their highs, as the company has been the hardest hit of the FAANG stocks. A bevy of negative publicity has come since this summer, especially focused on top Facebook executives’ handling of foreign influence on the 2016 U.S. election.

Amazon shares continue a fall begun when it gave a fourth-quarter outlook on Oct. 25 which was much lower than expected. Netflix and Alphabet shares, meanwhile, have largely fallen in lockstep with the rest of the FAANG stocks.

Facebook and Alphabet each hit their 52-week highs in July, at $218.62 a share and $1291.44 a share, respectively. Netflix peaked in June at $123.21 a share. Amazon and Apple were the most recent to hit 52-week highs at $2550.50 a share in September and $233.47 a share in October, respectively.

—With reporting by Dominic Chu.


Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: michael sheetz
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Don’t blame Monday’s market rout entirely on Apple. Global growth and the Fed are issues

The market sold off big today—here’s what four experts say investors should be watching 3 Hours Ago | 02:10The market is boxed in due to the problems with global growth and the Federal Reserve. Lumentum, one of Apple’s facial recognition suppliers, reduced its outlook for the quarter, citing a reduced shipment request from one of its biggest customers, which everyone assumes is Apple. Other Apple suppliers, such as Qorvo, Cirrus Logic, and Jabil, were also weak. Domestic growth seems strong, but


The market sold off big today—here’s what four experts say investors should be watching 3 Hours Ago | 02:10The market is boxed in due to the problems with global growth and the Federal Reserve. Lumentum, one of Apple’s facial recognition suppliers, reduced its outlook for the quarter, citing a reduced shipment request from one of its biggest customers, which everyone assumes is Apple. Other Apple suppliers, such as Qorvo, Cirrus Logic, and Jabil, were also weak. Domestic growth seems strong, but
Don’t blame Monday’s market rout entirely on Apple. Global growth and the Fed are issues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: bob pisani
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Don't blame Monday's market rout entirely on Apple. Global growth and the Fed are issues

The market sold off big today—here’s what four experts say investors should be watching 3 Hours Ago | 02:10

The market is boxed in due to the problems with global growth and the Federal Reserve.

Monday’s decline in tech stocks cannot be blamed exclusively on Apple. Lumentum, one of Apple’s facial recognition suppliers, reduced its outlook for the quarter, citing a reduced shipment request from one of its biggest customers, which everyone assumes is Apple.

Other Apple suppliers, such as Qorvo, Cirrus Logic, and Jabil, were also weak.

But the fact that all the FANG names were down 2 percent to 3 percent, and the industrial and energy sectors were down 1.5 percent each, points to a bigger problem. Domestic growth seems strong, but the global growth picture in Europe and China is generally weaker. That’s one reason all the high valuation stocks (FANG) are getting taken down.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: bob pisani
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The S&P 500 is sitting right on the trend line determining a routine sell-off or deeper rout

The market is riding the line between a fairly routine reset in valuations and expectations, and a deeper rout that would challenge the consensus assumption of solid U.S. economic growth moderating benignly next year. The uptrend in the S&P 500 since February 2016 is now bending or cracking, depending on the interpretation. The Nasdaq-100 index — a proxy for the mega-cap growth stocks that carried the market until they faltered recently — is sitting on an even longer uptrend line from the March


The market is riding the line between a fairly routine reset in valuations and expectations, and a deeper rout that would challenge the consensus assumption of solid U.S. economic growth moderating benignly next year. The uptrend in the S&P 500 since February 2016 is now bending or cracking, depending on the interpretation. The Nasdaq-100 index — a proxy for the mega-cap growth stocks that carried the market until they faltered recently — is sitting on an even longer uptrend line from the March
The S&P 500 is sitting right on the trend line determining a routine sell-off or deeper rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-29  Authors: michael santoli
Keywords: news, cnbc, companies, trend, majority, uptrend, sitting, right, deeper, 500, line, market, determining, routine, longer, selloff, rout, help, index, stocks, sp


The S&P 500 is sitting right on the trend line determining a routine sell-off or deeper rout

US-China trade deal likely to come before end of year, which will help the market: Strategist 1 Hour Ago | 03:47

The recent stock market action is of no real help in determining whether this is a painful but brief correction or the opening phase of a longer, deeper downturn.

The oppressive selling interrupted by flawed and fleeting rallies, the widespread damage to the majority of stocks far exceeding the S&P 500 index’s 9.8 percent drop, the refusal of investors to take heart in cosmetically upbeat corporate results — all of it is equally plausible as a passing scare or an ominous emergence of the bear.

The market is riding the line between a fairly routine reset in valuations and expectations, and a deeper rout that would challenge the consensus assumption of solid U.S. economic growth moderating benignly next year.

The uptrend in the S&P 500 since February 2016 is now bending or cracking, depending on the interpretation. That February 2016 low was the end of a “stealth bear market” that gouged some 12 percent from the S&P 500 while inflicting worse damage on industrial stocks and foreign indexes — on multiple waves over the course of six months.

The Nasdaq-100 index — a proxy for the mega-cap growth stocks that carried the market until they faltered recently — is sitting on an even longer uptrend line from the March 2009 low.

The carnage has been pretty comprehensive: More than three-quarters of all S&P 500 stocks are down more than 10 percent, and nearly half are at least 20 percent off their high. In the broader S&P 1500 index, a majority of stocks has lost at least a fifth of their value.

Other ways of viewing the market also show it to be flashing “oversold” extremes, including Daily Sentiment Index readings for the S&P 500 that got below 10 percent last week, a sign that fear had replaced hope for more than 90 percent of tactical traders.


Company: cnbc, Activity: cnbc, Date: 2018-10-29  Authors: michael santoli
Keywords: news, cnbc, companies, trend, majority, uptrend, sitting, right, deeper, 500, line, market, determining, routine, longer, selloff, rout, help, index, stocks, sp


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