Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
Target CEO Brian Cornell says he's encouraged by Trump's decision to postpone some consumer-oriented tariffs that were supposed to start Sept. 1.Retailread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
Target shares opened at record high after the retailer beat second-quarter earnings expectations and boosted its full-year estimates.Retailread more
Gluskin Sheff's David Rosenberg predicts one of the strongest parts of the U.S. economy will disappoint Wall Street and lead to a market meltdown.Futures Nowread more
Sanders' sweeping proposal would make it easier for workers to join unions and end the so-called right-to-work laws recently favored by the GOP.2020 Electionsread more
Germany has sold a 30-year bond with a 0% interest rate for the first time on Wednesday.Marketsread more
Morgan Stanley warns that "the wheels for a slowdown are in motion," adding that a slowdown in the manufacturing sector is spreading.Marketsread more
Lowe's also tops rival Home Depot on same-store sales growth in the U.S.Retailread more
If iPhone replacement cycles are slow now, they're only going to get worse — and everyone should be fine with that, one analyst told CNBC's "Power Lunch " Wednesday.
As Apple prepares a preview of its newest wares, Wall Street will watch for signs that Apple can keep selling at the same rate it used to. While there are still plenty of reasons to upgrade, wireless carriers are seeing replacement rates pull in, even offering buy one, get one offers to boost sales, said Walt Piecyk, analyst at BTIG.
"Maybe that replacement cycle has extended," Piecyk said. "There's certainly evidence of that over the past six months — the December quarter, then more dramatically in the March quarter. It's frankly only going to get worse in the June and September quarter in anticipation of new products."
In the last quarter, Apple reported its first year-over-year quarterly sales drop since 2003 amid slowing iPhone sales. Now, it's ramping up for Monday's developer conference, where it expected to announce some features that will roll out on future iPhones.
Even if the smartphone market slows down to low single-digit growth, Piecyk said he'd still recommend Apple stock, because it would give the company time to develop new products.
"If you look at the world on a larger basis, a lot of people still don't have LTE smartphones in some of these emerging markets," Piecyk said. "So if you're talking about a global basis, there's certainly plenty of reasons for people to upgrade. If you're just looking at high-end smartphones, product is aging. I mean, a large majority of the customers are still on 5 or 5s."