Despite yesterday’s 6.7% plunge, Apple (AAPL) stock is up in the pre-market. Now investors want to know whether they need to listen to the pessimistic opinion of the analyst about AAPL shares.
Tesla registered its worst single-day drop in history wiping out over $88 billion from its market cap. The S&P 500 Index Committee skipped TSLA stock in its inclusion to the index that led to negative market sentiment.
With a solid mega rally post the March 2020 market crash, the tech sector seems to have entered a strong correction. Analysts say that the sector is currently in the overbought regions and high-valuations of some giant companies are beyond reasonable levels.
The drop in TSLA shares price is largely attributed to the fact that the Tesla company hasn’t been added as the new member to the S&P 500 index.
Nio reported that it had completed deliveries of 3,965 vehicles in August, marking an impressive year-over-year rise of 104.1%. However, the stock hasn’t reacted positively to this announcement.
The tech sector which helped Wall Street recover from March 2020 market crash, entered a major correction last week.
The U.S. Department of Defense said that there were reports of SMIC’s alleged involvement with the Chinese military and further passing on their chip technology for China’s defense purposes.
“We think this is a big, big – one of the biggest of all time – houses of cards that’s getting ready to fold,” Trainer explained while pointing out the recent Tesla Inc (NASDAQ: TSLA) fundamentals.
Through its $100 billion Vision Fund, SoftBank bought nearly $4 billion in shares of Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), and Netflix (NASDAQ: NFLX). Moreover, SoftBank purchased a stake in Tesla (NASDAQ: TSLA).
At the moment, Peloton has not made an official announcement regarding the launch. However, one of the sources added that the company may announce the launch before the 10th of September.
For the past few days, Apple has been declining as it had its worst trading day since mid-March. AAPL is currently down 1.35% in pre-market trading.
At the time of writing, the Dow Jones was at around 28,292.73 points, having lost 807 points, which is approximately 2.78%.
With the rise in the work-from-home culture due to the COVID-19 pandemic, DocuSign (DOCU) stock has been the top pick of Wall Street investors surging nearly 350% year-to-date.
After last year’s announcement to allow political ads, Facebook will ban these ads shortly before the upcoming elections. FB stock price is falling.
After announcing more jobs in the U.S., Amazon has recently revealed plans to add more permanent roles in the UK. The company is also open to temporary employees.