- Peloton Interactive Inc (PTON) was down 8.55% after missing profit estimates on Thursday.
- Just Eat Takeaway (GRUB) declined 7.40% as Chicago sued GrubHub for misleading customers
- Moderna Inc (MRNA) declined by 4.52% as Japan found contaminated Moderna Covid-19 vaccines
- Coinbase Global (COIN) was up 4.26% as the news was announced in the latter part of Thursday’s session that they hired a former Facebook exec as Chief Marketing Officer.
- Alibaba (BABA) declined by 3.49% as China is expected to ban Chinese companies from US IPO’s
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Apples earnings and revenue remain positive as earnings and revenue surpassed expectations in last months earnings reports. Apple was up 0.72% on Friday’s close.
In the latter part of last week, Apple announced that it will make changes to its App Store policies, that could reduce sales from a services point of view. They had a 30% commission rate for app developers that were scrutinised by Epic Games resulting in a lawsuit, which resulted in $100 million to be paid to app developers in a class-action settlement.
It wasn’t all bad news, the anticipation for the iPhone 13 brought some positivity to the tech giant as Evercore ISI estimates that the company could see $20 billion in revenue come from ad sales within a few years.
Reports were released that Apple will use satellite connectivity so users can make phone calls in rural areas where there is no cellular reception. The new hardware is set to make use of Qualcomm’s X60 chip, putting even more focus on Tuesday’s event.
On Tuesday Apple is set to present at The Big 5G event, particular focus would be placed on the 6G session where Apple is set to make statements.
Technically the chart has been consolidating between $143 and $151, a clear break should signify that there’s a continuation of the trend. It’s been struggling to get over the 200-day moving average, but a break should be on the cards with the much anticipated iPhone 13 on the horizon.