Apple (NASDAQ: AAPL) reported blockbuster earnings results for its fiscal third quarter earlier this week, including a whopping 50% jump in iPhone revenue to $39.6 billion. CFO Luca Maestri warned that component shortages would get worse in the fiscal fourth quarter. CEO Tim Cook declined to predict how the shortage situation may unfold later in the year.
Super Micro Computer's lack of a preliminary earnings report led to a bloodbath in the sector.
Costco made buying a gold bar as simple as tossing it in a shopping cart. Adam Xi, 33 years old, called five different dealers to get a price he could accept for the gold bar he bought at Costco in October. Costco shoppers are spending as much as $200 million monthly on gold, according to a Wells Fargo estimate.
Two more property insurance companies are pulling out of California, leaving more homeowners in the state facing loss of coverage and surging premiums as insurers flee.
The S&P 500 could bottom out in the next month, according to Fundstrat's head of research Tom Lee.
Super Micro stock fell hard after the data-center computer specialist didn't announce preliminary results for its fiscal Q3.
The high-flying sector caught a bit of gloom at the end of the week due to several discouraging developments.
The losses in the stock market accelerated after Super Micro Computer announced earnings without preannouncing results.
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A variety of negative factors, including concern that the company is falling behind in AI, have hurt the stock.
If you are looking to maximize the income your portfolio generates, consider Enterprise Products Partners and Enbridge, but stay away from this midstream giant.