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    AAPL   US0378331005

APPLE INC.

(AAPL)
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Delayed Nasdaq  -  04:00:00 2023-01-26 pm EST
143.96 USD   +1.48%
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Wall St futures slip on China COVID woes; Apple falls

11/28/2022 | 06:45am EST
FILE PHOTO: Traders work on the floor of the NYSE in New York City

(Reuters) - U.S. stock index futures fell on Monday as protests in major Chinese cities against the country's strict zero-COVID policy re-ignited concerns about economic growth, while Apple shares slipped on a report of disruption in China production.

As China's strict policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance in China.

Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies.

One sign of that was Apple Inc, which fell 1.8% premarket after a media report said the company will see a production shortfall of nearly 6 million iPhone Pro units due to unrest at Foxconn's Zhengzhou plant.

Other mega-cap technology and growth stocks like Microsoft Corp, Meta Platforms Inc, Nvidia Crop, Netflix Inc and Tesla Inc fell between 0.7% and 2.2%.

At 6:24 a.m. ET, Dow e-minis were down 184 points, or 0.54%, S&P 500 e-minis were down 31.75 points, or 0.79%, and Nasdaq 100 e-minis were down 105.25 points, or 0.89%.

U.S.-listed shares of Chinese companies like Bilibili Inc, Alibaba Group Holding Ltd, JD.com Inc, Baidu Inc and Nio Inc lost between 0.4% and 1.7%.

"The attention to holiday shoppers continues today, albeit online, as Cyber Monday starts. However, street protests against zero-COVID policy in China underline a harsher reality that is undermining market sentiment, at least for now," said Rabobank analysts in a note.

On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street, as investors watched Black Friday sales and COVID-19 cases in China.

(Reporting by Ankika Biswas in Bengaluru; Editing by Savio D'Souza)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 0.27% 120.57 Delayed Quote.36.87%
APPLE INC. 1.48% 143.96 Delayed Quote.10.80%
BAIDU, INC. 3.13% 138.43 Delayed Quote.21.03%
BILIBILI INC. 8.14% 28.02 Delayed Quote.18.28%
JD.COM, INC. 2.82% 63.11 Delayed Quote.12.44%
META PLATFORMS, INC. 4.10% 147.3 Delayed Quote.17.58%
MICROSOFT CORPORATION 3.07% 248 Delayed Quote.3.41%
NASDAQ 100 2.00% 12051.48 Real-time Quote.10.16%
NASDAQ COMPOSITE 1.76% 11512.41 Real-time Quote.9.99%
NETFLIX, INC. -0.84% 364.87 Delayed Quote.23.74%
NIO INC. 4.64% 12.17 Delayed Quote.19.28%
NVIDIA CORPORATION 2.48% 198.02 Delayed Quote.35.50%
TESLA, INC. 10.97% 160.27 Delayed Quote.30.11%
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Analyst Recommendations on APPLE INC.
More recommendations
Financials (USD)
Sales 2023 404 B - -
Net income 2023 97 003 M - -
Net cash 2023 57 072 M - -
P/E ratio 2023 23,4x
Yield 2023 0,68%
Capitalization 2 280 B 2 280 B -
EV / Sales 2023 5,51x
EV / Sales 2024 5,18x
Nbr of Employees 164 000
Free-Float 0,10%
Chart APPLE INC.
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Apple Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 45
Last Close Price 143,96 $
Average target price 168,09 $
Spread / Average Target 16,8%
EPS Revisions
Managers and Directors
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
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