Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Stocks in Asia were tepid in Tuesday morning trade, while investors looked toward to a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to...Asia Marketsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
U.S. President Donald Trump's senior adviser Kellyanne Conway will not testify before the House of Representatives Oversight Committee this week on her alleged violations of...Politicsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
Some traders think the energy rally is about to wane, despite the sector being one of June's big winners.ETF Edgeread more
Stocks with this one feature are poised to crush the market after a rate cut, according to Goldman Sachs.Marketsread more
Apple's blowout earnings report gave one analyst even more conviction that the stock will be the first ever to achieve a $1 trillion market capitalization.
RBC's Amit Daryanani predicts Apple will hit the $1 trillion milestone within 12-18 months. After Wednesday's surge, Apple's current market value is about $819 billion. A $1 trillion market cap would imply a gain of 22 percent from here.
Apple shares settled at $157.14 after the closing bell, up 5 percent from Tuesday's close.
Daryanani's official 12-month price target is $176, representing 17 percent upside from Tuesday's close and implying a market cap of about $917 billion this time next year.
"We think Apple remains ontrack to become the first company to achieve $1 trillion market cap," wrote Daryanani in Wednesday's note. "Apple should sustain an upside bias through and potentially beyond iPhone product launch."
Despite forecasts of a "lame duck" quarter in anticipation of the iPhone release, Apple handily surprised Wall Street's expectations.
RBC noted four big things from the earnings report that will be catalysts to keep driving the stock higher: 1. Better-than-expected gross margins 2. Growth in mainland China 3. Investments in "autonomous systems" 4. Its $262 billion cash horde.
Apple CEO Time Cook spoke with CNBC following Apple's quarterly beat.
"We had a great quarter, I couldn't be happier," said Cook. "If you look at the products, we sold 41 million iPhones but frankly it's better than that because we also reduced channel inventories by 3.3 million, largely because the sell-through was more than we expected."
Though Cook did not offer comment on theories around the iPhone 8 release, many bloggers and analysts have said that the latest phone is likely to see some delays, though most believe it will be out by November.