Three Stock Lunch: Tesla, Apple and Broadcom
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
San Francisco Chronicle
40 minutes ago
- San Francisco Chronicle
Asian shares mostly higher after US stocks hit another record as Tesla and Nike rally
MANILA, Philippines (AP) — Asian shares mostly gained on Thursday after U.S. stocks hit another all-time high. U.S. futures edged up while oil prices fell. Tokyo's Nikkei 225 inched up 0.1% to 39,794.16. In South Korea, the Kospi added 1% to 3,106.46, while Australia's S&P/ASX 200 was down 0.1% to 8,589.30. The Hong Kong's Hang Seng index lost 1% to 23,976.41. The Shanghai Composite index edged up 0.1% to 3,57.36. Taiwan's TAIEX surged 1.4% while India's Sensex rose 0.3% Mizuho Bank, Ltd., in a commentary, said there is lopsided optimism about Vietnam's deal with the US, with Vietnamese imports subject to 20% tariffs in return for 0% tariffs on U.S. goods. 'A higher 40% tariff on goods deemed to be transshipped via Vietnam could accentuate risks to and from China,' it said, adding that 'other Asian economies will be particularly vulnerable to a two-sided geoeconomic squeeze given that their reliance on both China and U.S. are significant.' President Donald Trump said on Wednesday that he reached a deal with Vietnam, where U.S. products sold in the country will face zero tariffs and Vietnamese-made goods will face a U.S. tariff of 20%. That helped companies that import lots of things from Vietnam, including Nike, whose stock rose 4.1%. Factories in Vietnam made half of all Nike brand footwear in its fiscal year of 2024. The S&P 500 rose 0.5% and set a record for the third time in four days. The Dow Jones Industrial Average edged down by 10 points, or less than 0.1%, and the Nasdaq composite gained 0.9%. Tesla helped drive the market higher and rose 5% after saying it delivered nearly 374,000 of its Model 3 and Model Y automobiles last quarter. That was better than analysts expected, though the electric-vehicle maker's overall sales fell 13% from a year earlier. Worries have been high that CEO Elon Musk's involvement in politics is turning off potential Tesla buyers. Constellation Brands climbed 4.5% despite reporting a weaker profit for the latest quarter than analysts expected. It pointed to slowing growth for jobs in the construction industry and other '4000 calorie+' sectors, which tends to hurt demand for its beer. But the company selling Modelo beer and Robert Mondavi wine nevertheless stuck with its financial forecasts for the full upcoming year. They helped offset a 40.4% drop for Centene. The health care company withdrew its forecasts for profit this year after seeing data that suggests worse-than-expected sickness trends in many of the states where it does business. It was the worst day for the stock since its debut in 2001. All told, the S&P 500 rose 29.41 points to 6,227.42. The Dow Jones Industrial Average slipped 10.52 to 44,484.42, and the Nasdaq composite climbed 190.24 to 20,393.13. In the bond market, Treasury yields were mixed ahead of a highly anticipated report on Thursday, which will show how many jobs U.S. employers created and destroyed last month. The widespread expectation is that they hired more people than they fired but that the pace of hiring slowed from May. A stunningly weak report released Wednesday morning raised worries that Thursday's report may fall short. The data from ADP suggested that U.S. employers outside the government cut 33,000 jobs from their payrolls last month, when economists were expecting to see growth of 115,000 jobs. The ADP report does not have a perfect track record predicting what the U.S. government's more comprehensive jobs report will say each month. That preserves hope that Thursday's data could be more encouraging. But a fear has been that uncertainty around President Donald Trump's tariffs could cause employers to freeze their hiring. Many of Trump's stiff proposed taxes on imports are currently on pause, and they're scheduled to kick into effect in about a week. Unless Trump reaches deals with other countries to lower the tariffs, they could hurt the economy and worsen inflation. Other factors could also be dragging on the job market, such as the U.S. government's termination of protected status for 350,000 Venezuelans, potentially exposing them to deportation. That alone could create a drag on payrolls of 25,000 jobs, according to Goldman Sachs economist David Mericle, whose forecast for Thursday's report is weaker than many of his peers. In other dealings on Thursday, the benchmark U.S. crude lost 45 cents to $67, while Brent crude, the international standard, shed 47 cents to $68.64. The dollar was trading at 143.77 Japanese yen, up from 143.65 yen. The euro was unchanged at $1.1790.
Business Insider
an hour ago
- Business Insider
Apple's (AAPL) India Expansion Hits a Roadblock After Foxconn Pulls 300 Workers
Foxconn, Apple's (AAPL) biggest iPhone manufacturer, has pulled over 300 Chinese engineers and technicians from its Indian production facilities, according to Bloomberg. This could slow down Apple's plans as it gets ready to produce the iPhone 17. Notably, the move comes as tensions rise between the U.S. and China over trade and tariffs, but the reason for the recall remains unclear. As a result, this sudden change may cause challenges for Apple as it shifts more of its manufacturing to India. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Still, even with the recent disruption, Foxconn is expanding its operations in India. Indeed, it opened a new unit in the ESR Industrial Park in Tamil Nadu and invested $2.56 billion in its Devanahalli plant in May. It is worth noting that the plant is expected to make 100,000 iPhones by December and will include dorms for 30,000 workers, most of whom are women. Interestingly, in May 2025, Foxconn shipped nearly $1 billion worth of iPhones from India to the U.S., the second-highest monthly shipment ever, following a record $1.3 billion in March. However, Apple's growing presence in India may face political roadblocks. On May 23, U.S. President Trump threatened a 25% tariff on iPhones sold in the U.S. if they're not made domestically. Nevertheless, India now produces around 20% of the world's iPhones, and Apple had hoped to make most U.S.-bound iPhones there by late 2026. But with a shortage of skilled workers, that goal may now be delayed. Is Apple a Buy or Sell Right Now? Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 15 Buys, 10 Holds, and three Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average AAPL price target of $224.22 per share implies 6.4% upside potential.
The Hill
an hour ago
- The Hill
Asian shares mostly higher after US stocks hit another record as Tesla and Nike rally
MANILA, Philippines (AP) — Asian shares mostly gained on Thursday after U.S. stocks hit another all-time high. U.S. futures edged up while oil prices fell. Tokyo's Nikkei 225 inched up 0.1% to 39,794.16. In South Korea, the Kospi added 1% to 3,106.46, while Australia's S&P/ASX 200 was down 0.1% to 8,589.30. The Hong Kong's Hang Seng index lost 1% to 23,976.41. The Shanghai Composite index edged up 0.1% to 3,57.36. Taiwan's TAIEX surged 1.4% while India's Sensex rose 0.3% Mizuho Bank, Ltd., in a commentary, said there is lopsided optimism about Vietnam's deal with the US, with Vietnamese imports subject to 20% tariffs in return for 0% tariffs on U.S. goods. 'A higher 40% tariff on goods deemed to be transshipped via Vietnam could accentuate risks to and from China,' it said, adding that 'other Asian economies will be particularly vulnerable to a two-sided geoeconomic squeeze given that their reliance on both China and U.S. are significant.' President Donald Trump said on Wednesday that he reached a deal with Vietnam, where U.S. products sold in the country will face zero tariffs and Vietnamese-made goods will face a U.S. tariff of 20%. That helped companies that import lots of things from Vietnam, including Nike, whose stock rose 4.1%. Factories in Vietnam made half of all Nike brand footwear in its fiscal year of 2024. The S&P 500 rose 0.5% and set a record for the third time in four days. The Dow Jones Industrial Average edged down by 10 points, or less than 0.1%, and the Nasdaq composite gained 0.9%. Tesla helped drive the market higher and rose 5% after saying it delivered nearly 374,000 of its Model 3 and Model Y automobiles last quarter. That was better than analysts expected, though the electric-vehicle maker's overall sales fell 13% from a year earlier. Worries have been high that CEO Elon Musk's involvement in politics is turning off potential Tesla buyers. Constellation Brands climbed 4.5% despite reporting a weaker profit for the latest quarter than analysts expected. It pointed to slowing growth for jobs in the construction industry and other '4000 calorie+' sectors, which tends to hurt demand for its beer. But the company selling Modelo beer and Robert Mondavi wine nevertheless stuck with its financial forecasts for the full upcoming year. They helped offset a 40.4% drop for Centene. The health care company withdrew its forecasts for profit this year after seeing data that suggests worse-than-expected sickness trends in many of the states where it does business. It was the worst day for the stock since its debut in 2001. All told, the S&P 500 rose 29.41 points to 6,227.42. The Dow Jones Industrial Average slipped 10.52 to 44,484.42, and the Nasdaq composite climbed 190.24 to 20,393.13. In the bond market, Treasury yields were mixed ahead of a highly anticipated report on Thursday, which will show how many jobs U.S. employers created and destroyed last month. The widespread expectation is that they hired more people than they fired but that the pace of hiring slowed from May. A stunningly weak report released Wednesday morning raised worries that Thursday's report may fall short. The data from ADP suggested that U.S. employers outside the government cut 33,000 jobs from their payrolls last month, when economists were expecting to see growth of 115,000 jobs. The ADP report does not have a perfect track record predicting what the U.S. government's more comprehensive jobs report will say each month. That preserves hope that Thursday's data could be more encouraging. But a fear has been that uncertainty around President Donald Trump's tariffs could cause employers to freeze their hiring. Many of Trump's stiff proposed taxes on imports are currently on pause, and they're scheduled to kick into effect in about a week. Unless Trump reaches deals with other countries to lower the tariffs, they could hurt the economy and worsen inflation. Other factors could also be dragging on the job market, such as the U.S. government's termination of protected status for 350,000 Venezuelans, potentially exposing them to deportation. That alone could create a drag on payrolls of 25,000 jobs, according to Goldman Sachs economist David Mericle, whose forecast for Thursday's report is weaker than many of his peers. In other dealings on Thursday, the benchmark U.S. crude lost 45 cents to $67, while Brent crude, the international standard, shed 47 cents to $68.64. The dollar was trading at 143.77 Japanese yen, up from 143.65 yen. The euro was unchanged at $1.1790.
