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KiplingerOct 30, 2020
Stock Market Today: Big Tech Beatdown Keeps Stocks in a Slump
The usual store of worries -- election uncertainty, COVID's resurgence and stalled stimulus -- no doubt weighed large on investors during a broadly brutal Friday for U.S. equities.

But Big Tech gets a special nod for its role in dragging down the wider market.

SEE MORE 15 Dividend-Paying Stocks to Sell or Avoid Apple (AAPL) slightly topped earnings expectations, but shares slumped 5.6% amid a 20% decline in quarterly sales and a lack of forward-looking guidance.

It wasn't all bad. "The bang-bang launches of iPad Air, Watch series 6, the service bundles, and the new 5G iPhones in autumn show that Apple is firing on all cylinders," writes Argus Research's Jim Kelleher (Buy, $150 price target), who adds that "the September iPad and Watch launch and the October iPhone launch should drive momentum for Apple products heading into the holiday season."

Facebook's (FB) top and bottom lines easily exceeded estimates, but declining volume of U.S. and Canadian users triggered a 6.3% exodus from shares. And Amazon.com (AMZN)? A Street-beating 37% jump in revenues, and profits that were 67% better than estimates … but the stock sank 5.5% thanks to disappointing Q4 earnings estimates amid high COVID-related costs.

"None of Thursday's tech earnings results were bad, and some were spectacular," says David Bahnsen, chief investment officer of wealth management firm The Bahnsen Group, "but the mar


Google Market NewsOct 30, 2020
Stock Market Rally Dives On Coronavirus Fears, Apple, Microsoft, Facebook, Amazon Earnings - Investor's Business Daily
Stock Market Rally Dives On Coronavirus Fears, Apple, Microsoft, Facebook, Amazon Earnings  Investor's Business DailyDow closes more than 150 points lower as Wall Street posts its worst one-week sell-off since March  CNBCNifty to remain under pressure as US benchmarks fail to recover & futures take further dip overnight  ET NOWStocks retreat with megacaps mostly disappointing lofty investor expectations  Seeking AlphaUS STOCKS-S&P 500, Nasdaq rise af

Yahoo BusinessOct 30, 2020
Apple Loses $450 Billion in Value Since Record on iPhone Woes
(Bloomberg) -- When talking about the biggest company in the world, it's not unusual for there to be eye-popping numbers. But Apple Inc.'s latest superlative is not one investors would like to see.Since becoming the first American company to surpass $2 trillion in market value in August and peaking last month, the iPhone maker has lost $450 billion, wiped out by a 19% slump. The latest bout of selling -- a 5.6% drop on Friday -- took out more than $120 billion alone. Apple's now worth $1.85 trillion and still the most valuable U.S. company, but the amount shaved from its ledger since its September peak is more than the entire market cap of Visa Inc., the seventh largest member of the S&P 500, and greater than the value of Thailand's stock exchange.The drawdown comes as the tech giant reported iPhone sales that missed analysts' estimates and gave no forecast for the holiday quarter. Fiscal fourth-quarter revenue from the iPhone was $26.4 billion, compared to expectations of $27.1 billion.The Nasdaq 100 Index plunged 2.6% on Friday and had its worst week since the coronavirus-induced selloff in March. Disappointing sales forecasts from tech companies like Apple, Twitter Inc. and Facebook Inc. are sparking worries about further growth potential in the names that led this year's rebound.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


Yahoo BusinessOct 30, 2020
MARKETS: Big tech gets taken to the woodshed but YF Premium remains bullish on Apple
Yahoo Finance's Jared Blikre joins Myles Udland to break down the day's price action in stocks as well as a long in Apple (AAPL), a Yahoo Finance Premium Investment Idea. Not a subscriber? http://finance.yahoo.com/premium-marketing?yahooproperties_editorialv_wcz7njuyytq"Start your free trial to join our next webinar on Wednesday, November 4 at 2:00pm ET live!




Yahoo BusinessOct 30, 2020
Amazon earnings beat expectations on strong COVID-19 sales, Alphabet sees rise in ad revenue
Yahoo Finance's Adam Shapiro and Julie Hyman break down earnings reports from Amazon, Alphabet, Facebook, and Apple.



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