{
}
U.S. markets showed mixed results, with the S&P 500 and Nasdaq rising due to a 21.9% surge in Tesla shares after positive earnings and growth projections, while the Dow fell, impacted by Boeing and IBM. Asia-Pacific stocks mostly rose, though Japan's Nikkei slipped as inflation hit a six-month low. Major airlines are cutting flights to China amid rising costs and lower demand, while analysts predict a decline in Chinese steel exports due to new tariffs starting in 2025.
A group of Japanese companies advocates for focusing discussions on Bitcoin and Ether for cryptocurrency exchange-traded funds (ETFs), highlighting their large market value and stable track record as suitable for medium to long-term asset building. The group also recommends reviewing taxation systems, including separating taxes on earned income.
Dixon Tech is projecting an annual revenue of Rs 40,000 crore this fiscal, significantly up from earlier estimates, driven by the booming mobile manufacturing segment, which is seen as the key growth driver. The company is currently producing 2.8 million handsets monthly, with plans to increase this to 3.5 million soon. Additionally, production for a major Android phone brand is set to commence next month, with expectations to improve mobile business margins to 4.5% in the coming years.
US equity markets are set for their first losing week in seven, driven by profit-taking ahead of major tech earnings and rising national debt yields. The ASX 200 is also expected to close negatively, influenced by Wall Street losses. Key economic indicators, including the US GDP and job data, are due next week, alongside inflation reports from Australia and Europe.
Apple is set to report its Q4 earnings on November 1, with expectations of adjusted earnings per share at $1.593 and revenue of $94.215 billion. Investor focus remains on performance in China amid mixed market signals, while the company continues to emphasize AI innovation and maintain a robust capital return program, including $25 billion in share buybacks. Despite a year-to-date stock gain of 19.9%, Apple has underperformed the S&P 500, reflecting ongoing growth concerns.
Malaysia is poised for accelerated economic growth, a reduced fiscal gap, and stable prices, which will bolster the strength of the ringgit and attract more investment, according to Second Finance Minister Amir Hamzah Azizan. He noted that the currency will align with the country's growth prospects and benefit from decreasing interest rate differentials with the US.
Japan’s Finance Minister Katsunobu Kato met with US Treasury Secretary Janet Yellen to discuss recent fluctuations in the foreign exchange market. This meeting followed Kato's heightened warnings regarding the yen's rapid decline. Both officials agreed to maintain open communication to share insights on the situation.
Asia-Pacific markets are poised for a lower open ahead of Japan's elections, while Tokyo sees a slowdown in inflation. Morgan Stanley highlights a transformation in the electricity sector, predicting significant benefits for power producers and utilities, with three stocks showing over 40% upside potential. Despite recent market volatility, UBS and Citi's wealth head express optimism for U.S. equities, anticipating a rally post-election as uncertainty diminishes. Meanwhile, initial unemployment claims fell to 227,000, although continuing claims rose to nearly 1.9 million, reflecting mixed impacts from recent hurricanes and strikes.
Itau BBA analysts have recommended shorting Amazon and Apple as they approach their earnings season. This strategy reflects concerns about the companies' performance in the upcoming financial reports.
Microsoft CEO Satya Nadella's total compensation rose to $79.1 million for the fiscal year ending June 30, a 63% increase from the previous year, despite his request for a pay reduction due to recent cybersecurity breaches. His cash incentive was cut from $10.66 million to $5.2 million, reflecting his commitment to enhancing the company's security culture. Nadella emphasized prioritizing security in a memo to employees, following significant cyberattacks that impacted the company.
Apple Inc.
Companies
| Symbol | AAPL |
| Name | Apple Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Technology Hardware & Equipment |
| Industry | Electronic Equipment, Instruments & Components |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | Cupertino |
| Zipcode | 95014 |
| Website | http://www.apple.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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