President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Early results show that customers are excited about the latest iPhone lineup, which should drive higher sales volume and stock gains, according to two top analysts.
Both Citigroup and RBC Capital Markets reiterated their buy ratings on Apple over the weekend after seeing just how popular the new phones appear.
For Citi analyst Jim Suva, the hundreds of customers flocking to Apple stores over the weekend provided evidence not just of rebounding demand for new phones, but also willingness to pay top dollar for flashier technology.
"Wow we did not expect this," Suva wrote. "Yes there were lines, and many Apple stores were serving only the pre-order confirmed orders, while walk-ins were referred to order online or check back in a few days."
"While a few days of observation falls short of a definite conclusion, we believe these initial findings will surprise investors to the upside as many expected the new devices to have widely expected features, minimal improvements, and a lukewarm reception," he added.
Amid his key findings, Suva said the majority of customers the Citi team spoke with actually opted for the high-end iPhone XS Max with 512 GB of memory.
"The high cost of the model is reasonable for someone who uses the devices several times each day, and the device is a form of both entertainment and work productivity," the analyst wrote.
The newest generation of phones under CEO Tim Cook showcase a number of refinements from their iPhone X predecessors. While all three phones include popular features like facial recognition and wireless charging, many electing to upgrade have highlighted larger screens and the improved memory.
The XS Max, for example, boasts a 6.5-inch display, making it larger than Samsung's Galaxy Note 9, which has a 6.4-inch screen.
Suva's price target of $230 represents more than 5 percent upside from Friday's close of $217.66.
RBC analyst Amit Daryanani, meanwhile, believes that this year's carrier promotions appear more attractive than those during the iPhone X cycle, spelling healthy sales growth in the months to come.
"We think this could result in a healthy cycle from a volume standpoint even as average selling prices go up from already high comps," Daryanani wrote Sunday. "Promotions like $700-off on a new line at multiple carriers, along with better trade-in values vs last year imply that higher pricing of iPhone XS Max would be less of a hurdle for buyers."
That compares with offers during the iPhone X cycle such as Verizon offering $300 off an iPhone 8 if customers trade in their older phones.
In sum, the analyst said Apple is positioned for mid-single-digit sales and low-to-mid teens earnings per share growth despite relatively flat iPhone volume growth. Daryanani's $240 target implies more than 10 percent upside from Friday's close.
Though Apple slipped 0.4 percent in premarket trading Monday, the stock is up nearly 32 percent over the past six months.