Stockreport
Traders brace for bigger losses with tech in ‘eye of the storm' [BNN Bloomberg (Canada)]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
The prospect of prolonged levies and the economic damage they will bring is so bleak for pricey technology stocks that Paul Nolte, market strategist and senior wealth manager at Murphy & Sylvest Wealth Management said he wouldn't be surprised if some of the shares drop another 50%. He cited high tech company valuations and the expected hit to profits from the tariffs on imports. “If we see weaker economic data, we could see this selling continue for a while,” Nolte said. “We haven't yet seen anything in terms of a negotiation or sign of when this could end.” The Nasdaq 100 suffered its worst week since 2020's COVID-19 crisis and tech stocks have been underperfoming every other sector in the S&P 500 over the past month and a half. Trump's tariffs have weighed most heavily on groups like semiconductor and hardware makers whose supply chains are reliant on overseas manufacturing. An index of semiconductor makers sank 16% last week. Apple Inc., which makes most of its devices in Chin
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