Friday’s Headlines: Apple Just Can’t Seem To Miss
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Upstart Holdings (UPST) +5.1%
Calavo Growers (CVGW) +5.0%
PagerDuty (PD) +4.2%
Cloudflare (NET) +3.8%
Datadog (DDOG) +3.6%
Moving Down ⬇️
Wynn Resorts (WYNN) -2.4%
Trupanion (TRUP) -1.7%
Wix (WIX) -1.6%
1. Even when the general reaction to its annual fall event was disappointing, Apple (AAPL) still appears to have salvaged a win. According to reports in China, the Big Tech giant’s new iPhone 13 — which many felt wasn’t enough of an improvement on its predecessor — has seen a massive surge in pre-orders in China. Almost 2 million customers have reportedly pre-ordered the device in the world’s most populous market, an early improvement on last year’s 1.5 million in the same period. China remains one of Apple’s most important markets, and any signs of sales growth there will be important going into the holiday quarter. Read the full report here.
2. Speaking of improved cameras, GoPro’s (GPRO) path to recovery marches on with the announcement yesterday of its new flagship product: the HERO10 Black. The product comes with all the usual upgrades you’d expect from a camera, but investors will be keen to see if it can keep the company’s stock price going up, having seen it double over the past 12 months. However, it still remains almost 90% down from its 2014 highs. But with the action camera company’s Q2 earnings proving a resounding success thanks to revenue soaring 86% to $250 million, the company is showing real signs of a comeback. Read the official press release here.
3. Investors in retail stocks such as Nordstrom (JWN) and Lululemon (LULU) will be mighty pleased today following a boost from August’s retail report. Despite fears of escalating Delta variant COVID-19 cases, retail sales rose 0.7% in August from the month before, surpassing the 0.8% decline that was expected. This boost is suspected to owe thanks to back-to-school shoppers who, following a year of education being in lockdown, went all out in preparation for their long-awaited return. However, a shadow was cast over these positive figures in the form of yet another missed jobless claims estimate as well as a 3.2% fall in auto industry sales. Read more here.