US Stocks Plummet Due to AI Weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Source: NASDAQ.COM
- Market Decline: As of midday, the S&P 500 fell 1.46% to 7,297.54, and the Nasdaq Composite dropped 2.52% to 25,246.14, indicating heightened investor concerns over artificial intelligence, leading to a bearish market sentiment.
- Apple's Stock Drop: Apple shares declined over 3% in the morning after the “Apple Intelligence” reveal failed to excite investors, reflecting a cautious outlook on tech stocks that could impact future sales expectations.
- Semiconductor Sector Pressure: Stocks like Micron Technology, Qualcomm, and Advanced Micro Devices faced renewed pressure, highlighting investor worries about high inflation and the potential for Federal Reserve interest rate hikes, which exacerbates risk aversion.
- Analysts Warn of Risks: Analysts from Citigroup, Bank of America, and Wells Fargo have raised concerns about elevated market risk levels, noting that equity valuations, consumer confidence, and yield curves are entering dangerous territory, urging investors to navigate current volatility with caution.
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Analyst Views on AAPL
Wall Street analysts forecast AAPL stock price to rise
27 Analyst Rating
17 Buy
9 Hold
1 Sell
Moderate Buy
Current: 291.580
Low
239.00
Averages
306.89
High
350.00
Current: 291.580
Low
239.00
Averages
306.89
High
350.00
About AAPL
Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Its product categories include iPhone, Mac, iPad, Wearables, Home and Accessories. Its services include advertising, AppleCare, cloud services, digital content, and payment services. The Company operates various platforms, including the App Store, that allow customers to discover and download applications and digital content, such as books, music, video, games and podcasts. It also offers digital content through subscription-based services, including Apple Arcade, Apple Fitness+, Apple Music, Apple News+, and Apple TV+. Its wearables include smartwatches, wireless headphones, and spatial computers. Its products include iPhone 16 Pro, iPhone 16, iPhone 15, iPhone 14, iPhone SE, MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, Mac Pro, iPad Pro, iPad Air, AirPods, AirPods Pro, AirPods Max, Apple TV, Apple Vision Pro and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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