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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%.
Apple announced that it will delay the privacy update with iOS 14 while giving developers some more time to adjust with its privacy rules and policies. This is a temporary relief to companies like Facebook, however, advertisers would need to work out for alternatives in the long run.
Despite the green ticks seen in key tech stocks, traders appear to have taken profit off the shares of Apple and Tesla as both stocks strive to stabilize after the implementation of their respective stock splits.
Through a filing to the SEC, Baillie Gifford & Co. disclosed that it has sold 19.23M of Tesla (TSLA) shares to meet the company’s internal guidelines. Tesla shares dropped by nearly 5% yesterday and lost another 2% after hours.
Tesla plans to sell its stocks worth $5 billion through banks. Wedbush analyst Dan Ives called this idea a “smart move”.
With the Dow measuring the stock performance of 30 large companies listed on stock exchanges in the United States, its rise is an indication that the big market cap companies are headed for a bull run.
While the euphoria related to Tesla and Apple stock split has caught up with investors seeing this as an opportunity to get their hands on the tech stocks, analysts believe this tendency may be somewhat misguided.
Both Tesla and Apple are beginning stock split trading today, giving investors the opportunity to access additional shares in the companies.
Since President Donald Trump issued the executive order prompting TikTok to get acquired by a U.S.-based company or to risk being banned in the country, some companies have already shown their interest in buying TikTok.
All three major U.S. stock indexes ended the week higher than last Friday’s close, which represents the fifth consecutive weekly gains for the S&P 500 and the Nasdaq.
If the TikTok deal goes through, it can give a massive boost to Walmart’s online advertisement and e-commerce business. Besides, Walmart will have a strong footprint in the social media world competing directly against giants like Facebook, Amazon, and Alphabet.
The e-commerce retail giant Walmart is the new player in the race for acquiring the Chinese social media platform TikTok. However, Walmart will be joining Microsoft in the bid for TikTok. Walmart sees a massive opportunity in integrating TikTok’s audience to its e-commerce retail business.
With the new approach to inflation, the Fed aims to support the labor market and broader economy by keeping interest rates lower for a longer period of time.
Electric vehicle stocks are climbing consistently, with Tesla hitting a market cap over $400 billion, which also increased Elon Musk’s net worth.