As Amazon predicts, its Q1 2020 net sales will rise by a range of 16% and 22% to hit $73 billion. In addition, the company has boasted more members already joined its subscription program. AMZN stock is rising in the pre-market.
Abbott Laboratories gets FDA approval on its coronavirus test m2000 RealTime System, which takes a 5-minute minimum to get the results. ABT stock rose nearly 2% after hours to trade around $76 though on Monday its price was $62.
Boris Johnson, the United Kingdom’s Prime Minister, is going to self-isolation on Downing Street. Health Secretary Matt Hancock went under forced self-isolation too.
Walmart, Amazon, Costco stocks are up as they implement measures to protect employees and customers from coronavirus. The measures include sanitizing efforts, temporary changes of working hours and recruiting more people to handle increasing demand.
The Dow Jones Industrial Average is leading the pack on a bull rally, after gaining 1,300 points as of March 26. Although still below last year’s lows, the 6.38% gain is the biggest 3-day surge ever recorded since 1931
Zoom Video Communications (ZM) shares fell 15% to hit $135.18 on March 25. Although having risen over 100% in the past year, the sudden fall is being attributed to President Trump calling on businesses to resume. Today, ZM stock is up again.
While Apple stock has corrected nearly 32% in just the last month, analysts point out at its strong fundamentals and multiple revenue streams and say it is a good bet at the existing valuations.
According to Bill Gates, COVID-19 is disastrous for the U.S. economy. In the situation given, people have to maintain the coronavirus shutdown of 6-10 weeks.
Zoom Video Communications is one of the winners in coronavirus time. On Monday, ZM stock skyrocketed by 22.22% to reach $159.56.
Tesla (TSLA) stock is in the green now. Tesla, GM, and Ford have been given the go-ahead to ramp up the production of ventilators used in the treatment of coronavirus patients.
While Google is working on its COVID-19 website, Alphabet (GOOGL) stock is trading in the red. Now its price is around $1036 per share.
Disney (DIS) stock price is falling due to the poor performance of its “Onward” movie. COVID-19 is causing disruptions in the entertainment industry apparently. Meanwhile, Disney+ is launching in Europe.
Merkel’s quarantine does not mean she will stop her official business, as the leader will continue working from home. She will also have regular COVID-19 tests in the coming days.
While Tesla (TSLA) stock has corrected 60% in just over a month’s time, its valuations look to be attractive. With strong fundamentals in place, the stock could be a potential buy for the long term.
Top-five tech companies (Amazon, Apple, Alphabet, Microsoft and Facebook) have corrected anywhere between 25-30% over the last month’s global market crash. These companies have entered an official bear market after leading the 11-year bull market after the 2008 financial crisis.