Apple hits new all-time high, while other tech stocks tank (including Facebook)
Apple withstood the tech plunge Thursday, holding tight to its all-time highs even as Facebook drags the sector lower,” Sara Salinas reports for CNBC. “Shares of Apple were essentially flat in midday trading, down a fraction of 1 percent. Earlier in the day, the stock reached a new high of $195.96.”
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“Meanwhile, Facebook is on pace for its worst day ever after its second-quarter earnings report. Amazon, which reports earnings after the bell Thursday, fell nearly 2 percent. Twitter fell almost 4 percent after a shot from President Donald Trump, and Microsoft fell roughly 1 percent,” Salinas reports. “By noon ET the S&P tech sector was down 1.5 percent.”
“Apple reports its quarterly earnings next week, as it nudges closer to $1 trillion market value,” Salinas reports. “The stock is up 15 percent on the year and more than 25 percent in the last 12 months.”
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