Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Why Apple is the only tech stock that’s up today

by
November 30, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Boeing’s Starliner capsule lands, completing a crucial step toward carrying NASA astronauts

Nasdaq 100 futures fall after chip giant Nvidia delivers light guidance

Apple CEO Tim Cook attends the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho.

Kevin Dietsch | Getty Images

Apple stock was up more than 2% on Tuesday as stocks tumbled on concerns of the new omicron Covid variant, showing investors see the company as a safe haven during market uncertainty.

Other large market cap tech stocks like Google, Amazon, Meta (formerly Facebook) and Microsoft are down for the day amid a broader market selloff. The Dow Jones Industrial Average dropped more than 500 points, the Nasdaq composite was down over 1% and the S&P 500 was down about 1.4% on Tuesday.

Needham analyst Laura Martin told CNBC that investors turned to Apple on Tuesday because the company has prodigious cash flow, allowing it to endure any slowdowns in the economy and take advantage of falling prices.

“There’s a flight to quality with companies that you know will weather the storm, not go bankrupt, not have financial distress,” Martin said, noting that other large-cap tech stocks aren’t down as much as smaller firms.

Martin added Apple is positioned to introduce new products to power new growth, including a headset.

“The biggest criticism of Apple for the last five years is no new products. When you look at the product pipeline, lots of excitement there, especially in the press today about how they’re going to introduce augmented reality glasses at the next WWDC in June,” Martin said.

Martin said there are indications that Apple’s current products, especially its iPhone Pro models, are selling well, potentially leading to a big December quarter for the company. Apple said in October it expected record revenue in its fiscal first quarter, over last year’s $111.4 billion in sales, despite supply constraints.

“Lots of really good numbers coming out of retail about how the products are selling. Tablets, especially the high-end iPhones, all of which says they’re going to have high margins and high revenue for the fourth quarter of this year,” Martin said.

Apple uses its cash flow not only to invest in new products but to return capital to shareholders through dividends and buybacks, the latter of which can help keep the stock price stable. And Bernstein analyst Toni Sacconaghi said in a note to investors earlier this month that he expects Apple to continue repurchasing shares over the next five years.

“Our analysis suggests that Apple is likely to be able to continue repurchasing ~ 3-4% of its shares per year until the end of 2026 while growing its dividend per share by 10% annually without taking on net debt on its balance sheet,” Sacconaghi said in a Nov. 17 note to investors.

Shares of Apple are up about 25% for the year.

ShareTweetPin

Related Posts

Boeing’s Starliner capsule lands, completing a crucial step toward carrying NASA astronauts

by
May 25, 2022
0

In this article BA Boeing's Starliner spacecraft is seen before docking with the International Space Station on May 20, 2022...

Nasdaq 100 futures fall after chip giant Nvidia delivers light guidance

by
May 25, 2022
0

A trader works at the New York Stock Exchange NYSE in New York, the United States, May 18, 2022. Michael...

Best trades on CNBC Wednesday: Pros are making these big portfolio moves despite an unstable market

by
May 25, 2022
0

Market Movers rounds up the best trades from investors and analysts on CNBC throughout the day. Traders say they are...

Elon Musk backs ‘tight’ background checks for all gun sales in wake of mass shooting in Texas

by
May 25, 2022
0

In this article ABT TSLA Elon Musk speaks on stage during the Westworld Featured Session during SXSW at Austin Convention...

Feds say Twitter used contact info collected for security purposes to target ads

by
May 25, 2022
0

In this article TWTR Musk would have been appointed to Twitter's board on Saturday, but the world's richest man informed...

Next Post

Auto executives say more than half of U.S. car sales will be EVs by 2030, KPMG survey shows

Dow drops 650 points on growing omicron fears, Powell taper comments

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com