Tuesday’s Headlines: Is Apple About To Smash Records?
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Pinterest (PINS) +4.0%
Stitch Fix (SFIX) +3.3%
Nautilus (NLS) +3.0%
Baozun (BZUN) +2.9%
Smartsheet (SMAR) +2.7%
Moving Down ⬇️
Nordstrom (JWN) -5.9%
Lululemon (LULU) -3.9%
GoPro (GPRO) -3.3%
Eventbrite (EB) -3.3%
Planet Fitness (PLNT) -3.1%
1. According to top Apple (AAPL) analysts, the new iPhone 12 is already outperforming last years iPhone 11 series by quite a substantial margin. Ming-Chi Kuo of TF International Securities said Apple sold up to 2 million iPhone 12 models in the first 24 hours of preorders, up from 800,000 units of the iPhone 11 for the same period last year — including an estimated 152,737 in China alone. There is likely weight to Kuo’s claims of record iPhone sales as Apple has since updated its shipping times to between five and 10 days, implying stronger demand than the iPhone-maker has supply for. Perhaps we were a bit hasty to call it ‘yet another dull Apple event’. Read the full report here.
2. While iPhone sales appear to be soaring, it looks like the ‘Apple of cars’, Tesla (TSLA), is experiencing a dip in sales in its largest U.S. market, California. According to data, Tesla vehicle registrations in the Golden State dropped 13% in the third quarter compared with last year, mere weeks after the company reported a record 139,300 total vehicle deliveries in Q3. Could Tesla be losing a grip on its home market? The world’s most valuable automaker, whose shares have surged more than five-fold this year, is expected to report third-quarter results after market close on Wednesday. Read more here.
3. You thought you could go one day without a cloud business update? Think again… Yesterday, Google (GOOG) Cloud announced the launch of Lending DocAI, its first dedicated service for the mortgage industry. The new tool, which is currently available to preview, is designed to aid mortgage providers in speeding up the process of evaluating a borrower’s income and assets — a truly laborious process — using specialized machine learning models to automate routine document reviews. “With Lending DocAI, you will reduce mortgage processing time and costs, streamline data capture, and support regulatory and compliance requirements”, said Google product manager Sudheera Vanguri. Get a look at the feature here.
Earnings season kicks is kicking off this week for MyWallSt’s shortlisted stocks. Get this week’s full calendar here.
There are two companies in the MyWallSt shortlist that will report earnings today: