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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread 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
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread 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
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Apple shares could be in for a disappointing 2019 as the technology sector faces its "strongest headwinds in a decade," one equity research analyst told CNBC Thursday.
It's been a rough year for big tech stocks, with data and privacy controversies, falling chip prices and stagnant smartphone sales. China's slowing economic growth and the continuing U.S.-China trade war have set Apple and its numerous Chinese manufacturing facilities directly in the line of fire. Apple shares are down 7 percent year-to-date amid this broader sell-off for tech with the Nasdaq set for its worst year since 2008.
"We've seen (Apple) on valuations even lower than where they are today," Pelham Smithers, the managing director of London-based equity research and market intelligence firm Pelham Smithers Associates, said in an emailed note to CNBC.
"And with the Qualcomm lawsuit, smartphone exhaustion and trade worries, we could easily test those historic lows, which would mean up to 25 percent downside from here," he said, highlighting Qualcomm's long licensing battle with Apple where the sale of some iPhone models has been banned in some jurisdictions.
Still, as with robotic stocks, "this sell-off does seem to set us up for a rare buying opportunity," Smithers said, adding that the opportunity may present itself later on in 2019 or even in 2020. That will be when Apple plans to introduce its 5G handsets, "and we should have greater clarity on the various industry concerns."
The big test for Apple will come with the rollout of 5G, Smithers and other industry watchers say. 5G promises to revolutionize the internet, enabling faster connections and bringing down the time delay for devices to communicate with one another.
"Ultimately they (Apple) are a consumer solutions company, and the first step to that is the hardware. And then it's what the hardware can do with the software," Smithers told CNBC's "Squawk Box Europe" on Thursday. "So as we move into the 5G era, it is the effectiveness of the handsets, of their tablets in this environment, either from an enterprise viewpoint or a consumer viewpoint that will be key."
Despite the analyst's bearish outlook, Apple watchers more generally are still overwhelmingly bullish. According to Reuters, Apple currently has 13 "strong buy" ratings from analysts, 10 "buy" and 20 "hold" ratings, with no "sell" or "strong sell" ratings. These analysts have an average target price of $215 a share. The stock currently trades at $157 and Smithers' prediction would see it fall to 117.75 — a price it hasn't seen since early 2017.
Apple was down 1.77 percent in premarket trading Thursday at 7.00 a.m. ET, after Wall Street staged a massive rally Wednesday which saw the Dow peg its biggest single-day point gain ever.
Disclaimer: Pelham Smithers does not own shares in Apple.