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Box stock jumped in late Tuesday trading, after the file-sharing software company reported better-than-expected Q4 earnings...
Continue ReadingOn Tuesday, Target (NYSE: TGT) reported its holiday quarter results, with both top and bottom lines surpassing Wall Street estimates. Despite guiding for another year of weak sales, Target was rewarded for boosting its profit and margins with its shares jumping 12% during morning trading. Moreover, Target unveiled a paid membership program to combat its rivals, Walmart (NYSE: WMT) and Amazon.com Inc (NASDAQ: AMZN). Fiscal Fourth Quarter Results For the period ended on February 3rd, revenue grew...
Continue Reading(Bloomberg) -- Stocks came under pressure as a trio of tech heavyweights fell, with traders wading through mixed economic data in the run-up to Jerome Powell’s testimony to Congress.Most Read from BloombergOlivia Rodrigo Is Not Kid-Friendly? Don't Act Surprised.Tech Giants Drag Down US Stocks After Torrid Rally: Markets WrapGold Climbs to Record on Mix of Fed Pivot and Geopolitical RisksApple’s iPhone Woes in China Deepen With a 24% Sales PlungeBitcoin Retreats After Record-Setting Run That Topp...
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Sales of Apple's iPhone plunged 24% year-over-year in China in the first six weeks of 2024 due to stiff competition from rivals, especially Huawei, according to a new report...
Continue ReadingApple shares (AAPL) are trading lower after a report from Counterpoint Research showed that iPhone sales declined in China within the first 6 weeks of the year. The company also recently received a $2 billion fine from the European Commission for violating antitrust rules. Ben Bajarin, Creative Strategies CEO and Principal Analyst, joins Yahoo Finance to discuss how concerned Apple investors should be amid the negative headlines. While Apple's recent release of iPhones wasn't enough for consumers to upgrade this cycle, Apple's retention and loyalty in the Chinese market are "the highest of any brand," Bajarin explains: "I think there's been a huge sort of debate around will...iPhone consumers in China wait, even push their upgrade cycle even longer toward the end of the year hoping that some gen AI stuff comes for Apple in the next platform launch, so I think there's a little bit of that. I mean, obviously to your point, which is correct, there's been the criticism that the iPhone was just not as big of a year-over-year upgrade enough to really move a cycle. I think again, I keep coming back to that this doesn't mean that sales are gone, it's just that sales are delayed." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino...
Continue ReadingThe Dow Jones fell in early trades. Cathie Wood sold Coinbase as bitcoin fell. Apple fell on slowing China iPhone sales...
Continue ReadingiPhone sales dropped 24% in the first six weeks of 2024, pointing to competition from Huawei, trade tensions and regulatory hurdles...
Continue ReadingThe takeover of Twitter had an impact far beyond Musk’s portfolio of companies, says Zoe Schiffer, author of the new book Extremely Hardcore: Inside Elon Musk’s Twitter...
Continue ReadingWall Street three major indexes all retreated more than 1% on Tuesday, with weakness in megacap growth companies such as Apple Inc and the chip sector weighing most on the Nasdaq ahead of this week's crop of economic data and remarks from Federal Reserve Chair Jerome Powell. Tuesday's economic data was a mixed bag showing slower U.S. services industry growth in February as employment declined while a measure of new orders grew to a six-month high, signaling underlying strength in the sector...
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