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The Zacks Analyst Blog Highlights: Apple, Fitbit, Cisco Systems, Qualcomm and Micron Technology
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For Immediate Release
Chicago, IL – September 19, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Apple, Inc. (AAPL - Free Report) , Fitbit, Inc. , Cisco Systems, Inc. (CSCO - Free Report) , Qualcomm, Inc. (QCOM - Free Report) and Micron Technology, Inc. (MU - Free Report) .
The Trump administration has spared a set of high-tech products that include Apple, Inc. Apple Watch and AirPods headphone from the latest round of tariffs, per Bloomberg. On Sep 17, Trump announced tariffs of 10% on $200 billion worth of Chinese goods in a statement that is likely to take effect on Sep 24. However, Apple’s shares still plummeted 2.7% on Monday.
It’s not only Apple but other tech majors too took a hit after the announcement of fresh tariffs. Tech stocks have been reeling under pressure for quite some time, particularly those that have significant exposure to China and generate substantial portion of their revenues from that country. In fact, a few tech players, including Apple, had earlier this month stated that another round of tariffs could hurt them.
Will Apple Escape Tariff Troubles?
Apparently, yes. Per Bloomberg, Apple’s Apple Watch and AirPods headphone have been spared the latest round of tariffs imposed by the Trump administration, according to the office of the U.S. Trade Representative. The 10% tariff on $200 billion worth of Chinese goods is likely to come into effect on Sep 24. Also, similar smart watches like competitor Fitbit, Inc. are not on the list. However, both Apple and Fitbit’s shares plummeted on Monday. Shares of Fitbit declined 1.1%.
Moreover, smart watches that use Bluetooth wireless communications, the technology used in Apple Watch and AirPods, too might be exempted from the latest round of tariffs. In fact, the Trump administration had removed proposals on flat-panel television sets from the first round of tariffs on $50 billion worth of Chinese goods in June.
Earlier this month, Apple had said that some of its products, including Apple Watch, would be affected if another round of tariffs is imposed. This saw shares of Apple declining for most of last week. In response, Trump tweeted that there’s an easy way of avoiding tariffs for Apple and that isby shifting its production to the United States. Apple has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Per International Data Corp,Apple sold 4.7 billion smart watches in 2017, while Fitbit sold 2.7 billion. Apple does a bulk of its manufacturing in China via contract manufacturers. Hence higher tariffs mean importing its products to the United States at a higher cost. This could make Apple shift production to the United States and other markets.
It is now to be seen how China retaliates. China is one of the biggest markets for Apple. The company shipped more than 41 million iPhones to China in 2017, generating around 20% of its total revenues. China could make things difficult for Apple if the trade war escalates via taxes and regulatory measures.
What’s in Store for Other Tech Companies?
Apple isn’t the only tech major worried about tariffs. Earlier this month, a number of big tech companies like Dell Technologies and Cisco Systems, Inc. had requested U.S. Trade Representative Robert Lighthizer to reconsider White House’s plan of imposing tariffs of up to 25% on Chinese imports as it would affect their business.
On Monday, shares of Cisco Systems, Dell and Hewlett Packard declined 0.6%, 1.4% and 1.8%, respectively. According to a recent report by Morgan Stanley, tit-for-tat tariffs would have an increasingly detrimental effect on the global supply chain. Tech companies with significant exposure to China have been reeling since Trump announced tariffs in early March.
This includes a number of chipmakers like Qualcomm, Inc. and Micron Technology, Inc., which generate maximum revenues from China. Shares of Skyworks Solutions, Qualcomm, Broadcom and Micron declined 1.7%, 2.5%, 0.7% and 1.6%, respectively, on Sep 17. Tech companies, particularly chipmakers, will now be waiting to see how China retaliates to these tariffs.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Apple, Fitbit, Cisco Systems, Qualcomm and Micron Technology
For Immediate Release
Chicago, IL – September 19, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Apple, Inc. (AAPL - Free Report) , Fitbit, Inc. , Cisco Systems, Inc. (CSCO - Free Report) , Qualcomm, Inc. (QCOM - Free Report) and Micron Technology, Inc. (MU - Free Report) .
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Tuesday’s Analyst Blog:
Can Tech Majors Survive Trump’s Tariffs?
The Trump administration has spared a set of high-tech products that include Apple, Inc. Apple Watch and AirPods headphone from the latest round of tariffs, per Bloomberg. On Sep 17, Trump announced tariffs of 10% on $200 billion worth of Chinese goods in a statement that is likely to take effect on Sep 24. However, Apple’s shares still plummeted 2.7% on Monday.
It’s not only Apple but other tech majors too took a hit after the announcement of fresh tariffs. Tech stocks have been reeling under pressure for quite some time, particularly those that have significant exposure to China and generate substantial portion of their revenues from that country. In fact, a few tech players, including Apple, had earlier this month stated that another round of tariffs could hurt them.
Will Apple Escape Tariff Troubles?
Apparently, yes. Per Bloomberg, Apple’s Apple Watch and AirPods headphone have been spared the latest round of tariffs imposed by the Trump administration, according to the office of the U.S. Trade Representative. The 10% tariff on $200 billion worth of Chinese goods is likely to come into effect on Sep 24. Also, similar smart watches like competitor Fitbit, Inc. are not on the list. However, both Apple and Fitbit’s shares plummeted on Monday. Shares of Fitbit declined 1.1%.
Moreover, smart watches that use Bluetooth wireless communications, the technology used in Apple Watch and AirPods, too might be exempted from the latest round of tariffs. In fact, the Trump administration had removed proposals on flat-panel television sets from the first round of tariffs on $50 billion worth of Chinese goods in June.
Earlier this month, Apple had said that some of its products, including Apple Watch, would be affected if another round of tariffs is imposed. This saw shares of Apple declining for most of last week. In response, Trump tweeted that there’s an easy way of avoiding tariffs for Apple and that isby shifting its production to the United States. Apple has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Per International Data Corp,Apple sold 4.7 billion smart watches in 2017, while Fitbit sold 2.7 billion. Apple does a bulk of its manufacturing in China via contract manufacturers. Hence higher tariffs mean importing its products to the United States at a higher cost. This could make Apple shift production to the United States and other markets.
It is now to be seen how China retaliates. China is one of the biggest markets for Apple. The company shipped more than 41 million iPhones to China in 2017, generating around 20% of its total revenues. China could make things difficult for Apple if the trade war escalates via taxes and regulatory measures.
What’s in Store for Other Tech Companies?
Apple isn’t the only tech major worried about tariffs. Earlier this month, a number of big tech companies like Dell Technologies and Cisco Systems, Inc. had requested U.S. Trade Representative Robert Lighthizer to reconsider White House’s plan of imposing tariffs of up to 25% on Chinese imports as it would affect their business.
On Monday, shares of Cisco Systems, Dell and Hewlett Packard declined 0.6%, 1.4% and 1.8%, respectively. According to a recent report by Morgan Stanley, tit-for-tat tariffs would have an increasingly detrimental effect on the global supply chain. Tech companies with significant exposure to China have been reeling since Trump announced tariffs in early March.
This includes a number of chipmakers like Qualcomm, Inc. and Micron Technology, Inc., which generate maximum revenues from China. Shares of Skyworks Solutions, Qualcomm, Broadcom and Micron declined 1.7%, 2.5%, 0.7% and 1.6%, respectively, on Sep 17. Tech companies, particularly chipmakers, will now be waiting to see how China retaliates to these tariffs.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Click to see them right now >>
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.