Tajuk : Tech stocks are getting whacked again
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Tech stocks are getting whacked again
Getty/Justin Sullivan
Apple CEO Tim Cook
Technology stocks are under pressure ahead of Monday’s opening bell.
The early selling comes after a decline on Friday spilled over into both Asia and Europe on Monday. Additionally, Mizuho analyst Abhey Lamba lowered his price target for Apple from $160 to $150.
Here’s a look at some of the bigger names ahead of the opening bell:
- Alphabet -0.7% at $963.60
- Apple -1.9% at $146.17
- Amazon -1.1% at $967.25
- Facebook -1.3% at $147.72
- Microsoft -1% at $69.62
- Nvidia -2.9% at $145.26
- Tesla -1.6% at $351.47
The tech-heavy Nasdaq Composite actually hit a record on Friday — before reversing directions later — after Goldman Sachs declared FAAMG as the new acronym for the most powerful tech stocks driving the market.
“Indeed, the bigger story in our view is FAAMG — Facebook, Amazon, Apple, Microsoft and Alphabet — a group of five stocks which have been the key drivers of both the SPX & NDX returns year-to-date,” Robert Boroujerdi and his colleagues wrote in a note.
According to the firm, that group of five stocks had added $660 billion in market value so far in 2017.
Then, Citron Research published a scathing white paper on the graphics-processing-unit manufacturer Nvidia, saying it had become “a casino stock” after soaring more than 16% last Monday through Thursday. Citron said shares would sink to $130 before hitting $180.
Also weighing on tech was a report from Bloomberg suggesting that Apple’s iPhone 8 wouldn’t be as fast as its rivals.
The Nasdaq ultimately closed down 1.8% on Friday.
NOW WATCH: Former Navy SEAL commanders explain why they still wake up at 4:30 a.m. — and why you should, too
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2rn39f1
(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!
Getty/Justin Sullivan
Apple CEO Tim Cook
Technology stocks are under pressure ahead of Monday’s opening bell.
The early selling comes after a decline on Friday spilled over into both Asia and Europe on Monday. Additionally, Mizuho analyst Abhey Lamba lowered his price target for Apple from $160 to $150.
Here’s a look at some of the bigger names ahead of the opening bell:
- Alphabet -0.7% at $963.60
- Apple -1.9% at $146.17
- Amazon -1.1% at $967.25
- Facebook -1.3% at $147.72
- Microsoft -1% at $69.62
- Nvidia -2.9% at $145.26
- Tesla -1.6% at $351.47
The tech-heavy Nasdaq Composite actually hit a record on Friday — before reversing directions later — after Goldman Sachs declared FAAMG as the new acronym for the most powerful tech stocks driving the market.
“Indeed, the bigger story in our view is FAAMG — Facebook, Amazon, Apple, Microsoft and Alphabet — a group of five stocks which have been the key drivers of both the SPX & NDX returns year-to-date,” Robert Boroujerdi and his colleagues wrote in a note.
According to the firm, that group of five stocks had added $660 billion in market value so far in 2017.
Then, Citron Research published a scathing white paper on the graphics-processing-unit manufacturer Nvidia, saying it had become “a casino stock” after soaring more than 16% last Monday through Thursday. Citron said shares would sink to $130 before hitting $180.
Also weighing on tech was a report from Bloomberg suggesting that Apple’s iPhone 8 wouldn’t be as fast as its rivals.
The Nasdaq ultimately closed down 1.8% on Friday.
NOW WATCH: Former Navy SEAL commanders explain why they still wake up at 4:30 a.m. — and why you should, too
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2rn39f1
(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!
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