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Today β€” 25 July 2024Yahoo! Finance: Apple News

Apple's China market share shrinks as Huawei surges, data shows

25 July 2024 at 09:43
Apple's market share in China shrank by two percentage points in the second quarter of 2024, as the tech giant faced intensifying competition from rivals like Huawei, according to data from market research firm Canalys. Huawei's smartphone shipments surged 41% year-on-year in the the quarter, bolstered by the launch of its new Pura 70 series in April. The Canalys data, while not providing specific shipment figures for Apple, showed that the company's market share in China dropped to 14% in the second quarter of 2024, a decrease from 16% in the same quarter of 2023.
Yesterday β€” 24 July 2024Yahoo! Finance: Apple News

$1 Trillion Rout Hits Nasdaq 100 Over AI Jitters in Worst Day Since 2022

24 July 2024 at 20:22
(Bloomberg) -- Investors soured on the promise of artificial intelligence Wednesday, sparking a $1 trillion rout in the Nasdaq 100 Index as questions swirled over just how long it will take for the substantial investments in the technology to pay off.Most Read from BloombergHarris Just Showed Why Trump Is So Afraid of HerI Changed My Mind. The Fed Needs to Cut Rates Now.Stocks Tumble as Wall Street Gets AI Wake-Up Call: Markets WrapWhat Initial Polling Data Show About the Trump-Harris MatchupHar

Apple Maps launches on the web to challenge Google Maps

24 July 2024 at 23:30
Apple announced on Wednesday that Apple Maps is now available on the web via a public beta, which means you can now access the service directly from your browser. The launch puts Apple Maps in direct competition with Google Maps, which has long been available on the web. Maps on the web is accessible in English and is compatible with Safari and Chrome on Mac and iPad, as well as Chrome and Edge on Windows PCs. Apple plans to bring support for additional languages, browsers and platforms in the f

UBS: "Foldable iPhones" not likely to drive iPhone demand

24 July 2024 at 16:24
Investing.com - According to an analyst note from UBS on Wednesday, Apple Inc (NASDAQ:AAPL) could be working on a "foldable" iPhone that could be released as early as 2026. The Information's website suggests that Apple is developing a foldable iPhone that folds widthwise like a clamshell, similar to the Samsung (KS:005930) Galaxy Z Flip.

Apple COO meets Shenzhen official to discuss supply chain ahead of iPhone 16 launch

24 July 2024 at 09:30
A top Apple executive has paid a visit to China's southern tech hub Shenzhen to speak with the city's party secretary about supply chains, underscoring China's importance for the US consumer giant as other tech firms seek to "de-risk" from the country. According to official statements from Shenzhen, Apple chief operating officer Jeff Williams met on Wednesday with Meng Fanli, the city's Communist Party secretary. Williams reportedly told Meng that Shenzhen is an important market for Apple, which

Apple App Store Practices Under Scrutiny In Spain For Anti-Competitive Behavior

24 July 2024 at 15:41
Apple Inc. (NASDAQ:AAPL) shares are trading lower Wednesday. The National Commission for Markets and Competition (CNMC) is investigating Apple for possible violations of Spanish and EU competition laws. Apple is under investigation for potentially imposing unfair trading conditions on developers using its App Store. The investigation, which was initiated due to the growing significance of app store activities in Spain, has a maximum duration of 24 months. Read: Apple iPhone Settlement Deadline E

Mag 7 must perform 'incredibly well' to justify valuations

24 July 2024 at 15:10
The Nasdaq Composite (^IXIC) is facing downward pressure Wednesday morning following earnings data out from two Magnificent Seven members: EV maker Tesla (TSLA) and Google parent company Alphabet (GOOGL, GOOG). The Morning Wealth welcomes Commonwealth Financial Network CIO Brad McMillan to talk about his outlook on the upcoming results from the remaining Magnificent Seven stocks and whether Tesla and Alphabet's results are weighing on investor confidence. McMillan points to "a threat of more pressure" ahead for the Magnificent Seven. He cites high valuations based on earnings growth as a key concern. "If you don't see that earnings growth, and clearly we didn't see that with either of those two companies, that means that valuation has to come into question," McMillan tells Yahoo Finance. He notes that with the gap between the Magnificent Seven and the rest of the S&P 500 β€” commonly referred to as the 493 β€” being "extremely large," these tech giants are tasked with performing "incredibly well." Regarding concerns about a potential consumer pullback affecting earnings, McMillan remains optimistic. He emphasizes that the consumer is healthy, citing robust job market conditions and continued wage growth. "The actual purchasing power of the average worker continues to grow in a very, very healthy way," he states, indicating he is not worried about a decline in consumer spending. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith