The Fed is expected to cut rates multiple times, but the reason behind those cuts could have vastly different implications for the market.Marketsread more
It's about time to write off high-growth tech stocks, Goldman warns, saying software carries the highest multiples since the tech bubble.Marketsread more
Iran will surpass the internationally agreed levels of its low-enriched uranium levels in 10 days, the country's atomic energy body said Monday.Politicsread more
"This is going to be the biggest thing that's happened to Facebook in years," says CNBC's Jim Cramer. "It will be vital."Investingread more
Boeing says the airline industry will need 44,000 new commercial airplanes by 2038. The market value of those planes would reach $6.8 trillion, up from $6.49 trillion...Airlinesread more
Apple is reportedly building three new iPhones for 2020, including two with 5G. It may also slightly change the screen sizes of the new iPhones.Technologyread more
Sotheby's announces it has signed an agreement to be acquired by BidFair USA, a venture owned by art collector Patrick Drahi.Marketsread more
Overall, extortion by email is growing significantly, according to the FBI's Internet Crime Compliant Center (IC3). Last year, these complaints rose 242% to 51,146 reported...Technologyread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
Target's nationwide cash register meltdown over the weekend created more than $16 million in buzz on the internet from news reports and other social media mentions, according...Retailread more
Apple's stock is "cheap" at the moment, but the iPhone maker needs to innovate in order to return to strong growth, according to one analyst who spoke to CNBC on Wednesday after the company reported earnings that were largely in line with expectations.
"The stock is cheap, I mean, it's selling at low multiples," King Lip, chief strategist at Baker Avenue Asset Management, told CNBC's "Squawk Box" on Wednesday.
"The reason why we think it's selling at low multiples, frankly, is because the growth of the company is slower," he said. "It does appear and very clear to us that, you know, Apple's historic robust double-digit growth is behind the company and at least in the short-term, it doesn't appear that there's any catalyst to turn them around."
Lip's comments came after Apple released its fiscal first quarter earnings after-hours on Tuesday.
The earnings were reported under a new structure, offering gross margin figures for its services and products segments and withholding unit sales numbers for its most popular products, such as the iPhone. The new structure, announced in November, was intended to shift focus from the iPhone to other growth metrics.
Apple slashed its guidance for the quarter earlier this month, citing weaker than expected iPhone sales and a weakening economy in China.
CEO Tim Cook acknowledged in the post-earnings conference call that customers are "holding on to their older iPhones a bit longer than in the past."
As sales of its iPhone slows, the company has attempted to shift investors' focus toward its fastest growing segment: services. The company reported Tuesday that it has 900 million iPhones in active usage.
"If the company can't leverage off of that, you know, management ... needs to be replaced. I mean, 900 million iPhones, there's a lot of services that can sell through that," Lip said, citing examples such as Apple Pay and Apple Music.
Beyond that, he added, Apple needs to innovate. "We really need some sort of a killer app or killer product coming from Apple in the next ... six to 12 months."
This view was echoed by Daniel Flax, senior research analyst at Neuberger Berman, who spoke to CNBC ahead of the earnings release.
"The Apple Watch, the AirPods, these demonstrate that Apple is actually continuing to innovate and we think that's critical to ultimately creating value for their customers and of course their shareholders over the medium term," Flax said.
Highlighting the need for Apple to "constantly reinvent itself," Flax said: "We like the stock here, we think they've additional value that the management team can create over the next couple of years."
— CNBC's Sara Salinas and Weizhen Tan contributed to this report.