CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Apple shares plummet sending Wall street tumbling

US stocks took a hit as Apple Inc and Goldman Sachs Group drag down the tech and finance sectors.

IG Analyst

Publication date : 2018-11-13T04:02:00+0000

Apple shares plummet sending Wall St tumbling

US stocks plummeted on Monday, after Apple Inc and Goldman Sachs Group dragged down Wall street on Monday morning.

Apple shares fell 5% as suppliers’ shares also dropped. Apple Inc Shares fell to their lowest in more than three months. It comes after suppliers issued a warning on results that point to a future predicted fall in iPhone sales.

Lementum shares dropped 33%, Circus Logic Inc, Qorvo Inc and Skyworks Solutions Inc dropped as well, affecting the tech-heavy Nasdaq which fell 2%.

Lumentum Holdings Inc components power the iPhone’s Face ID technology, but Lumentum's chips are not used in phones older than last year's iPhone X.

Analysts have previously warned of a fall in shares, considering increasing iPhone launches, with heftier price tags.

Apple had warned earlier this month that holiday sales would miss Wall Street expectations this year, due to the weakness in emerging markets.

Lumentum Holdings Inc, cut $70 million off its forecasts for revenue knocking another 5% or $50 billion, off Apple's value in morning trade on Wall Street.

Apple’s earnings report

Earlier this month, Apple delivered underwhelming Q4 earnings report, where the company’s stocks began to fall.

Apple’s earnings per share (EPS) were recorded at $2.91 per share, while they dropped they still exceeded the $2.78 expected by stock analysts. The company’s Q4 revenue rose to $62.9 billion, also surpassing the projected $61.57 billion.

Apple’s 2019 first quarter outlook has also got investors wary, as the company expects revenue to be $87 billion, less the projected $93 billion by analysts.

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer

Disclaimer:

All forms of investments carry risks and trading CFDs may not be suitable for everyone. CFDs are leveraged instruments and can result in losses that exceed deposits, so please ensure that you fully understand, and are aware of, the risks and costs involved. Refer to the Risk Disclosure Statement and Risk Fact Sheet.

IG Asia Pte Ltd (Co.Reg.No. 200510021K) is regulated by the Monetary Authority of Singapore and holds a capital markets services licence for dealing in capital markets products that are over-the-counter derivatives contracts and is an exempt financial adviser.

IG provides an execution-only service. The information in this advertisement does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. You should consider your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

This advertisement has not been reviewed by the Monetary Authority of Singapore.