we predict Amazon and Apple stocks in this week but what about news in this week. in this article, we review some news about these stocks. you can see our prediction for Apple Inc. (NASDAQ:AAPL) and Amazon Inc. (NASDAQ: AMZN) by clicking on them. in continue, we gather some news about these companies.
Apple, Amazon stocks bounce sharply to swing into positive territory
Shares of Apple Inc. AAPL and Amazon.com AMZN are doing their part to support the broader market, as they have erased early sharp losses to trade higher. Apple’s stock was down as much as 1.6% at its intraday low of $158.00 but was now up 0.6% in afternoon trade. Amazon shares were down 3.0% at the intraday low of $1,387.36 but were last up 0.5%. Apple is the largest U.S. company by market capitalization at $821.4 billion while Amazon is the fourth-largest at $696.4 billion. Shares of the second-largest company, Google parent Alphabet Inc. GOOGL, is down 2.7%, while the third-largest company, Microsoft Corp. MSFT, are down 0.3%. Meanwhile, the tech-heavy Nasdaq 100 NDX, is losing 1% and the Dow Jones Industrial Average DJIA is shedding 442 points or 1.7%.
Healthy Sales Growth Keep Apple (AAPL) a Buy at recent price of $156.35
Portfolio Grader currently ranks Apple Inc (NASDAQ: AAPL) a Buy. With unique fundamental and quantitative metric based, this analytical tool evaluates nearly 5,000 stocks weekly. AAPL has maintained this ranking for the last month. Apple Inc‘s Buy recommendation is the conclusion of a process of analysis that is proprietary and produced outcomes that were above average in 4 areas: an economic sector ranked above average in attractiveness, a ranking in its sector group that is in the top third, ranking in the company’s industry group that is in the top quarter, and a numerical calculation of risk/reward that is attractive; and produced below average conclusions in 2 areas: an industry group ranked below average in attractiveness and analytical scores that are near average.
As one of the 374 companies in the GICS Electronic Technology sector, the company is a component of the 55 company Telecommunications Equipment GICS industry group within this sector. The market value of AAPL is $794.8 billion which places it in the top decile in its industry group Portfolio Grader’s current ranking for AAPL puts it 11 among the 55 companies in this industry group, giving it a well-above-average position.
Currently, Portfolio Grader ranks the Electronic Technology sector number 3 among the 20 sectors in its universe putting it in the top quartile of all the GICS sectors. The Telecommunications Equipment industry group is ranked 77 among the 129 industry groups within the GICS sectors, placing it below-average in terms of the Proprietary Quantitative Score scoring system.
AAPL has received above-average scores in 3 of the 8 fundamental areas appraised by Portfolio Grader and average or below-average grades in 5 of the areas used in the ranking of company stocks.
Amazon laying off hundreds of employees, primarily in consumer retail
Amazon.com Inc. AMZN is laying off several hundred corporate employees, with the cuts happening primarily in the consumer retail business, according to a report from The Seattle Times. The number of workers in Seattle has grown to 40,000 from 5,000 since 2010, with the swift increase pushing some units over budget and not enough work for some staff members, according to the report. The layoffs are expected to be complete in the coming weeks. Amazon has about 566,000 full-time and part-time workers according to its latest 10-K filing. The company has more than 4,000 job listings in Seattle, the Times reports and continues its selection of a second headquarters location. Still, the Times says the company is taking measures to prevent redundancies, like a new rule that managers must have at least four workers reporting to them. Amazon shares are up 3.2% in Monday trading, and up 67% for the last year. The S&P 500 index SPX, is up 14.6% for the last 12 months.