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    AAPL   US0378331005

APPLE INC.

(AAPL)
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Wall St mostly up on Nasdaq and growth stocks, takes Fed minutes in stride

10/13/2021 | 03:04pm EDT
FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City

(Reuters) - U.S. stocks were mostly higher on Wednesday in afternoon trading, led by gains in the Nasdaq and shares of big growth names including Amazon.com and Microsoft.

The S&P 500 briefly added to gains following the release of minutes from the September Federal Reserve policy meeting.

The minutes showed U.S. central bankers signaled they could start reducing crisis-era support for the economy in mid-November, though they remained divided over how much of a threat high inflation poses and how soon they may need to raise interest rates.

Earlier, a Labor Department report showed consumer prices increased solidly in September, further strengthening the case for a Fed interest-rate hike.

JPMorgan Chase & Co fell 2.7% and was among the biggest drags on the Dow and S&P 500 even though its third-quarter earnings beat expectations, helped by global dealmaking boom and release of more loan loss reserves.

"The market is in a show-me phase" with earnings, said Jim Awad, senior managing director at Clearstead Advisors LLC in New York.

"My hope is that stronger-looking guidance" will help to support prices, he said.

Mega-caps growth names including Amazon.com Inc, Google-parent Alphabet and Microsoft Corp all rose.

The Dow Jones Industrial Average fell 54.74 points, or 0.16%, to 34,323.6, the S&P 500 gained 4.56 points, or 0.10%, to 4,355.21 and the Nasdaq Composite added 69.98 points, or 0.48%, to 14,535.90.

BlackRock Inc rose 3.7% after the world's largest money manager beat quarterly profit estimates as an improving economy helped boost its assets under management, driving up fee income.

Bank of America, Citigroup, Wells Fargo and Morgan Stanley will report results on Thursday, while Goldman Sachs will publish earnings on Friday.

Analysts expect corporate America to report strong profit growth in the third quarter at a time when worries about supply chain problems and higher prices are affecting businesses emerging from the pandemic.

Among other stocks, Apple Inc fell 0.8% after a report said the iPhone marker was planning to cut production of its iPhone 13.

Advancing issues outnumbered declining ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored advancers.

The S&P 500 posted 6 new 52-week highs and 8 new lows; the Nasdaq Composite recorded 46 new highs and 50 new lows.

(Additional reporting by Devik Jain and Bansari Mayur Kamdar in Bengaluru; Editing by Arun Koyyur and David Gregorio)

By Caroline Valetkevitch


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.02% 2835.38 Delayed Quote.61.78%
AMAZON.COM, INC. -0.84% 3415.06 Delayed Quote.5.75%
APPLE INC. 0.34% 149.26 Delayed Quote.12.49%
DJ INDUSTRIAL 0.43% 35609.34 Delayed Quote.15.20%
MICROSOFT CORPORATION -0.27% 307.41 Delayed Quote.38.21%
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Analyst Recommendations on APPLE INC.
More recommendations
Financials (USD)
Sales 2021 366 B - -
Net income 2021 93 830 M - -
Net cash 2021 78 438 M - -
P/E ratio 2021 26,8x
Yield 2021 0,58%
Capitalization 2 467 B 2 467 B -
EV / Sales 2021 6,52x
EV / Sales 2022 6,31x
Nbr of Employees 147 000
Free-Float 99,0%
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 44
Last Close Price 149,26 $
Average target price 166,53 $
Spread / Average Target 11,6%
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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