The Conference Board, a business research group, on Tuesday released the June update for its consumer confidence index.Economyread more
The Congressional Budget Office estimated Tuesday that the national debt will rise to 141% of the economy over the next 30 years — 11 percentage points lower than the agency...Economyread more
Investors are piling into gold, sending the precious metal to a six-year high on Monday, and analysts think the commodity has established a base to go even higher.Marketsread more
Trump took to Twitter Tuesday to slam Iran for issuing a "very ignorant and insulting statement" after the U.S. slapped fresh sanctions on Tehran.Politicsread more
The yield on the benchmark 10-year Treasury note fell below 2% on Tuesday as investors looked for safety following the release of much weaker-than-expected confidence data.Bondsread more
More than 150,000 former students of for-profit colleges filed a lawsuit against the U.S. Department of Education and Education Secretary Betsy DeVos on Tuesday, claiming the...Personal Financeread more
Investors plow into the precious metal amid the prospects for lower interest rates, a softer global economy and increased geopolitical tensions.Marketsread more
Amazon announces that Amazon Prime Day will last for two days, starting July 15.Technologyread more
Buyers pulled away from the builders in May, even as affordability improved, thanks to lower mortgage rates.Real Estateread more
Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total value of $188.24 per Allergan share.Biotech and Pharmaceuticalsread more
CNBC's Carl Quintanilla reports from Hanoi, ahead of the Trump-Xi trade meeting, to look at Vietnam's manufacturing boom and whether it can be sustained.Economyread more
Apple shares will keep rising even after its big gains this year, according to J.P. Morgan.
The firm initiated coverage of Apple shares with an overweight rating, predicting strong growth for the smartphone maker's services business.
Apple is "transforming from a hardware company to a services company faster than investors had expected, which is driving financial and valuation upside," analyst Samik Chatterjee said in a note to clients Thursday entitled "Time for Apple Picking: Initiate OW on Compelling Services Transformation, Ripe Installed Base, Core Capital Deployment." "We expect increasing appreciation of acceleration in growth, along with greater visibility into earnings and cash flow with increasing mix of Services."
Apple shares closed up 2.1 percent Thursday.
The company's services business includes its App Store, Apple Music and Apple Pay offerings.
Chatterjee started his price target at $272 for Apple shares, representing 23 percent upside to Wednesday's close.
The analyst said Apple's services sales rose to 13 percent of its fiscal 2017 revenue versus 8 percent for fiscal 2012. He predicts the segment will rise to 20 percent of the company's sales by its fiscal 2021.
Chatterjee is the new analyst covering Apple for J.P. Morgan. The firm last covered the smartphone maker in October 2017.
Apple shares are significantly outperforming the market this year. The stock is up 30 percent year to date through Wednesday versus the S&P 500's 9 percent gain.
Last month Apple became the first publicly traded U.S. company to reach $1 trillion in market value.
— CNBC's Michael Bloom contributed to this story.