What impact did the coronavirus pandemic have on Apple’s (AAPL) stock?
The Dow Jones Industrial Average futures dipped on Tuesday morning as the stock market rally retreated from its record highs. The Nasdaq Composite and S&P 500 futures also declined.
Apple (AAPL) was the biggest drag on the Dow Jones, with shares down 1.3%. The tech giant’s stock has been volatile in recent weeks, as investors have weighed the potential impact of the coronavirus pandemic on the company’s business.
Meanwhile, five stocks were in buy zones, according to MarketSmith analysis. These stocks included Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Facebook (FB) and Visa (V).
Microsoft shares rose 0.7% after the company announced a new cloud computing service. The service, called Azure Synapse Analytics, is designed to help businesses analyze large amounts of data quickly and efficiently.
Amazon shares rose 0.5% after the company announced that it would be launching a new grocery delivery service. The service, called Amazon Fresh, will allow customers to order groceries online and have them delivered to their door.
Alphabet shares rose 0.3% after the company announced that it would be launching a new streaming service. The service, called YouTube TV, will allow users to stream live TV and on-demand content.
Facebook shares rose 0.2% after the company announced that it would be launching a new virtual reality headset. The headset, called Oculus Quest 2, is designed to provide a more immersive virtual reality experience.
Finally, Visa shares rose 0.1% after the company announced that it would be launching a new payment service. The service, called Visa Direct, will allow customers to send and receive money instantly.
Overall, the Dow Jones Industrial Average futures dipped on Tuesday morning as the stock market rally retreated from its record highs. Five stocks were in buy zones, according to MarketSmith analysis. These stocks included Microsoft, Amazon, Alphabet, Facebook and Visa.
acking up a fourth straight gain. Shares are in range from a 57.50 buy point from a cup-with-handle base. Shopify stock is extended from the entry.
WING stock rose 1.3% to 91.90, still in range from a 90.50 buy point from a cup-with-handle base. Wingstop stock is extended from the entry.
COIN stock fell 1.3% to 265.90, still in range from a 261.50 buy point from a cup-with-handle base. Coinbase stock is extended from the entry.
The stock market rally is still in a confirmed uptrend, but the Nasdaq and S&P 500 have pulled back from highs. Apple stock reversed lower after unveiling the Vision Pro mixed-reality headset. Tesla stock is in buy range, while FTNT stock, DXCM stock, SHOP stock, WING stock and COIN stock are in or near buy zones.
stock is in range from a cup-with-handle base with a 122.50 buy point.
SHOP stock rose 0.7% to 1,541.90 on Monday, still in range from a 1,521.50 flat-base buy point. Shopify stock is in range from a cup-with-handle base with a 1,521.50 buy point. The e-commerce platform provider is forming a new base.
WING stock rose 0.7% to 91.90 on Monday, still in range from a 90.50 flat-base buy point. Wingstop stock is in range from a Bitcoin plunged as the SEC filed charges vs. Binance, the world’s largest cryptocurrency exchange. Get the latest on the stock market rally and find out which stocks are in buy range.
The major indexes retreated Monday, with the Nasdaq and S&P 500 turning negative as AAPL stock reversed slightly lower. But they held onto the bulk of last week’s gains. Apple reversed slightly lower after unveiling the Vision Pro mixed-reality headset, while Tesla (TSLA), Fortinet (FTNT), DexCom (DXCM), Shopify (SHOP) and Wingstop (WING) are in buy range.
Late Monday, marketing software maker Sprinkler (CXM) reported a better-than-expected first-quarter profit and revenue gain. CXM stock popped nearly 4% in late trade. Meanwhile, Mobileye (MBLY) fell 6% in premarket trade, signaling a move back below the 50-day. The self-driving systems firm said it will sell 35 million shares on behalf of Intel (INTC).
Tesla stock is on IBD Leaderboard, with Wingstop on the Leaderboard watchlist. FTNT stock was added to SwingTrader on Monday and is on IBD Long-Term Leaders. WING stock and Fortinet are on the IBD 50. Fortinet was Monday’s IBD Stock Of The Day.
The video embedded in this article discusses Monday’s market action and analyzes FTNT stock, Samsara (IOT) and Fluence Energy (FLNC).
Dow Jones futures lost a fraction vs. fair value. S&P 500 futures edged lower and Nasdaq 100 futures edged higher. The 10-year Treasury yield fell 2 basis points to 3.67%. Crude oil futures sank more than 2%, now clearly below where it was before Saudi Arabia announced a surprise production cut on Sunday.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Apple unveiled the long-awaited mixed-reality headset, the Vision Pro, at its annual Worldwide Developers Conference. Targeting gaming, communications and productivity uses, the goggles combine virtual and augmented reality. The $3,499 price tag, higher than speculation for about $3,000, could deter potential buyers. It will go on sale in early 2024.
Earlier, Apple unveiled some new Mac computers and provided updates on the latest operating systems for the iPhone, iPad, Mac, Apple TV and Apple Watch. Apple stock closed down 0.8% at 179.58 after hitting a record 184.95 intraday before the Vision Pro unveiling.
The stock market rally showed