Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Stocks that make news this week
Nvidia: a breakdown in plans
The British government is launching a national security investigation of Nvidia’s $40-billion deal to buy British chip design house Arm from SoftBank Group. That’s a big blow to US graphics processor company.
Outlook for the stock: further consolidation and correction are likely; only the return above $640 will allow the previous uptrend to resume.
Apple took a pause
Apple unveiled new products this week. Purple iPhone and AirTags, however, did little to move the stocks. The company’s earnings report on April 28 will be much more interesting for investors.
Outlook for the stock: Apple is still good in the long-term; in the nearer time, there may be volatility, so we need to watch resistance at $138.
Philip Morris: good choice in the sector
The cigarette seller reported first-quarter profit and revenue that beat expectations. One of the reasons for the positive impact was the continued strength of IQOS, the company's smokeless products. However, the greater tobacco sector took a hit on the news that the US government plans to severely limit nicotine levels in cigarettes. This affected the company, although does not sell or market cigarettes in the US.
Outlook for the stock: short-term correction, medium-term bullish.
Coinbase: the star
The stock is available for trading in FBS Trader. By the way, Cathie Wood-led Ark Investment Management bought another 236,348 shares of cryptocurrency exchange. As cryptocurrencies seem to be on the verge of larger recognition by the regulators, the prospects of Coinbase seem very interesting.
Outlook for the stock: the stock declined to the levels around $300 in the months after the IPO, but analysts say it can be worth $400 and more.
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Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).