TECHNOLOGY (XLK)

CEO Tim Cook said it would be very difficult to predict beyond the June quarter, adding that he was not sure what would happen with the tariffs.

Huang also praised the President for his policies, support, and “strong encouragement” to help accelerate manufacturing in the U.S.

Wall Street pushed higher in midday trading, with the S&P 500 on track for its eighth consecutive gain — its longest winning streak since November 2023. The index rose about 1% to 5,560, fully recovering the losses sustained after former President Donald Trump announced trade tariffs on April 2.

Apple said it intends to appeal both rulings, according to separate statements issued in response.

Analysts, on average, expect Apple to report second-quarter earnings per share of $1.62 and revenue of $94.42 billion.

Biopharma stocks rally along with many of our SMID cap trades. The market situation with pharmaceuticals is even more complicated because we started off with legislation (the IRA) trying to curb rising drug and healthcare costs.

​​​​​​​Technology was the top-performing sector in the market last week. But the devil is in the details this time.

Analyst Craig Moffett said Apple's supply chain will still be anchored in China, given that most iPhone components are still made in that country.

Prices broke down on Monday, reversed on Tuesday, and ultimately ended the week strong. In addition, new NYSE 52-week lows have remained at relatively harmless levels for about two weeks.

The major indices closed with nice gains on Wednesday, but well off the highs achieved earlier in the session. It shouldn't be hard to tell what sector led – technology. But the bigger technical picture remains troubling.

In this week's video, we'll review the latest charts and data to help us answer the question: the breadth thrusts nailed down on Thursday — do the charts overall align with the rare bullish signals or contradict them?

Investors are pulling out of top tech ETFs, despite strong performance, in favor of blue-chip stocks. Defensive sectors see inflows as tech weakens.

Intel said it expects second-quarter revenue to be between $11.2 billion and $12.4 billion, missing analysts’ forecast of $12.8 billion.

Apart from China, the iPhone is now made in India and Vietnam as well, although parts that go into the device come from across the globe.

U.S. equities are pushing higher for a third straight session, eyeing the longest winning streak since the Trump tariff announcement on April 2, as optimism over corporate earnings and easing trade tensions boosts risk sentiment.

Big Tech stocks have been heavily sold off due to AI concerns and trade tensions, but may present a buying opportunity for long-term investors, says expert.

The company noted that revenue and operating profit were the second highest after the previous quarter’s record numbers.

Risk-on sentiment dominated Wall Street on Wednesday, as upbeat earnings reports and conciliatory messages from the Trump administration helped lift investor confidence.