As the Dow Soars, How High Can Tech Stocks Go?
Last Friday, the Dow Jones Industrial Average — the benchmark stock index of America’s blue chip companies – closed above 14,000 for the first time since the financial meltdown sent the U.S. economy into the worst crisis in decades. The continued resurgence of the U.S. auto industry and growing optimism about the overall economy helped propel the Dow above the psychologically important 14,000 point level. The surging Dow is an indication of the increasing financial health of the largest American companies, a bright spot in an otherwise shaky U.S. economic recovery, particularly with respect to unemployment. America’s blue chip firms — including industrial giants, banks, and auto companies — are healthier than they’ve been in years. But what about the largest U.S. tech companies? Like the other major stock indices, the tech-heavy Nasdaq index is at or near multi-year highs. On Friday alone, the Nasdaq rose 1%, nearly touching the index’s five-year high, which it hit last ...
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Apple Shares Plunge 10% on Slowing Growth, New Product Jitters
For years, Apple consistently beat Wall Street expectations, not only because the company habitually low-balled its financial projections, but also because it was growing at a rate and scale that was virtually unprecedented in the history of corporate America. It appears those days are over. For the third consecutive quarter, Apple, the world’s largest technology company, fell short of analyst estimates, sending the company’s stock down a whopping 10% in after-hours trading, wiping out nearly $50 billion in shareholder value. Although it reported record financial results, Apple’s slowing growth has raised questions about the next phase in the company’s evolution. (MORE: Apple Profit Surges 24% Ahead of Holiday Blowout; CEO Tim Cook Disses Microsoft) One thing is for sure: The numbers associated with Apple’s business are staggering. Apple sold 47.8 million iPhones and 22.9 million iPads during the holiday quarter, but both of those figures were about one million short of analyst ...
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Apple's iPhone disappointment fans doubt on growth
SAN FRANCISCO - Apple Inc missed Wall Street's revenue forecast for the third straight quarter after iPhone sales came in below expectations, fanning fears that its dominance of the mobile industry was slipping.
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Reuters
Apple revenue misses again, iPhone disappoints
SAN FRANCISCO - Apple Inc reported quarterly revenue that slightly missed Wall Street expectations as sales of its flagship iPhone came in below target, sending its shares down more than 4 percent.
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Reuters
NewsWatch: Apple earnings flat despite sales gain
Strong iPhone sales still don’t quite measure up to Wall Street’s targets. Apple’s shares fall as forecast for revenue, margins disappoints.
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