Rising home prices and conservative borrowing have today's homeowners sitting on a record amount of potential cash. Today's mortgage holders saw their home equity increase by...Real Estateread more
Stocks have been grinding sideways, but technical analysts say once they breakout, the move to the upside could be powerful.Market Insiderread more
The fresh round of cuts is on top of an estimated 4,500 temporary layoffs GM and its suppliers handed out to employees as of Friday.Autosread more
Here are the most important things to know about Tuesday before you hit the door including earnings from Nike and likely updates on Trump's trade deals.Marketsread more
The Mac Pro is the only major Apple computer to be assembled in the United States. Most of Apple's products, including the iPhone, are assembled in China and are facing tariff...Technologyread more
Think about the last TV show you recommended to a friend, or the last one that was recommended to you. Odds are, it was from a premium service like HBO, Netflix or Amazon.Entertainmentread more
SpaceX is deep into development of its Starship rocket, with recent updates from CEO Elon Musk showing the first one under construction.Investing in Spaceread more
The new wireless earbuds, codenamed "Puget," are expected to come with an accelerometer and be able to monitor things like the distance run, calories burned, and pace of...Technologyread more
Greta Thunberg, a 16-year-old Swedish environmental activist, delivered a powerful message at the United Nations Climate Action Summit on Monday.Environmentread more
SoftBank wants to push Neumann out of the CEO role ahead of the IPO.Technologyread more
Toys R Us' bankruptcy caused a 7% surge in sales for the toy industry during the first half of 2018 as parents stocked up, then sales fell 2% as manufacturers experienced...Retailread more
Apple shares will thrive even under a difficult stock market, according to one Wall Street firm.
Bank of America Merrill Lynch reiterated its buy rating on Apple shares, citing the company's fortress balance sheet.
Apple is "a name to own in volatile market conditions," analyst Wamsi Mohan wrote in a note to clients Thursday entitled "Attractive in volatile markets, cash cushion like none other."
"In times of market turmoil, we turn to large cap stocks with low leverage, high cash balance, and attractive valuation. Apple offers all this as well as opportunities for future growth. Apple's large cash balance offers the opportunity to expand into new markets," he added.
Mohan reaffirmed his $220 price target for Apple shares, representing 38 percent upside to Wednesday's close. The $220 forecast represents a $1.1 trillion market valuation for the company.
The analyst predicts Apple will raise its dividend by 10 percent this year. Mohan forecasts the smartphone maker will be able to generate $50 billion to $60 billion in free cash flow annually for the next two years. He expects the company will announce a new share buyback program in April.
Mohan downplayed investors' recent concerns over slowing iPhone demand.
"While iPhone X sales may be lower than the Street had predicted (our estimates were lower) we view low single digit unit growth and mix adjusted ASP (average selling price) growth into 2019, with upside to gross margins," he wrote. "In addition, Services remain a key growth driver in future years."
The firm's note comes after the market's volatility rose this past week. A stronger-than-expected jobs report and wage number on Friday sent interest rates higher, sparking a 6 percent sell-off in the S&P 500 over two trading sessions.
Apple shares declined 2.8 percent Thursday.