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 Ebay Inc. said Thursday that it has launched an app to buy and sell vehicles directly from users' mobile devices. The new app, eBay Motors, uses machine learning to buy and sell new, used, rare and collectible vehicles. It's available for Android devices and the Apple iPhone. Ebay stock is up 24.4% for the year to date while the S&P 500 index is up 25.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Credit Suisse analyst Matthew Cabral wrote Thursday that Apple Inc.'s November iPhone sell-in dropped 35.4% in China last month, citing third-party data. The stock is off 0.9% in premarket trading. "We recognize monthly data can be volatile and the shift in launch timing versus last year is likely skewing year-over-year compares; however, the drop in November marks the second straight double digit decline (-10.3% year over year in October) and total shipments in China since the launch of the iPhone 11 family are now down 7.4% year over year (September to November)," he wrote. Cabral said the popularity of Apple's cheaper iPhone 11 model in China "likely adds further pressure" to Apple's China sales. "In addition, the looming Dec 15th deadline for 15% tariffs imposed on the vast majority of Apple's portfolio (including iPhone, iPad, and Mac) remains a potential overhang," he wrote. "Our (and we believe investors') base case continues to factor in a favorable resolution (i.e., no tariffs); however, we think Apple would have a difficult time pushing through tariff-related price increases to US consumers (~35% of CY18 iPhone units, per Gartner) without a commensurate impact on demand." Cabral rates the stock at neutral with a $221 target price. Apple shares have risen 72% so far this year, as the Dow Jones Industrial Average has increased 20%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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