Apple is holding a launch event today to announce a line of new products. One of those products is expected to be new MacBooks. This is important because in June, the company announced that the 2020 MacBooks, that came with the M1 Chip, fuelled increased sales. To put this in context, between late 2017 and the second fiscal quarter of 2020, Apple reported 8 out of 10 quarters of flat or negative annual growth in its Mac business. Growth started taking off in 2020 and analysts are hoping the new MacBook lineup will add more fuel to the fire.
The world's biggest subscription streaming video platform will announce its earnings on Tuesday, Oct. 19 for the period that ended in late September. Netflix was hammered after its last report because of slowing subscriber growth. The company blamed production delays caused by the pandemic. If that is true, analysts will expect that Netflix’s stepped-up pace of content releases will bring good financial news. Also important is what Co-CEO Reed Hastings and his team have to say about their projections for Q4, which is usually a very important time for the TV and film giant.
The Auto Industry
The world’s most valuable car company is announcing its earnings on Wednesday, October 20th and we are watching to see any surprises Elon Musk and his team have in store. On Friday, Jefferies analyst Philippe Houchois boosted his price target for Tesla stock from $850 to $950. He also said the stock is one to buy. Houchois' new price target is 11% higher than where Tesla’s stock traded at market close on Friday. If he is right, Tesla may be due for a big jump soon.
Social Media and Augmented Reality
Snap Inc. shares have been on fire this year. The stock has gained over 50% this year, more than double Facebook’s nearly 20% with none of the controversy. Among other social-media stocks, Snap still comes up top. Twitter Inc. is up about 17% in 2021 while Pinterest Inc. has tumbled 20% on concerns over user growth. This is why when the company announces its earnings on Thursday analysts are expecting a year-over-year increase in earnings on higher revenues.
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