Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

FAANG Report: Apple's price target boosted by Piper Jaffray; Amazon goes on charm offensive

Facebook turns in one of its worst quarters since going public; Google looks to add more stories on its platform
Chart on an Apple iPhone.
Apple price target raised by Piper Jaffray

Apple Inc's (NASDAQ:AAPL) share price target was raised to US$250 from US$218 by Piper Jaffray analyst Michael Olson ahead of the company's expected iPhone launch event next week, a report by MarketWatch said. Olson said nearly two-thirds of iPhone owners, or more than 500mln people, are using an iPhone model that's at least two years old. He predicted a "super-long cycle" for the shares, which have risen almost 40% over the past 12 months. Apple stock hit an all-time intra-day high of US$229.67 this week. 

Shares of Apple were up 0.8% at US$224.83.

READ: Apple expected to unveil three new iPhone models on September 12

Facebook Inc (NASDAQ:FB) is having one of its worst quarters since going public in 2012 and one technical analyst believes more trouble lies ahead for the social media giant, a report by CNBC said. The social network has been raked by the markets over privacy scandals and its quarter-to-date losses have hit 16%, placing the stock on track for its largest quarterly loss since 2012, the report said.  Todd Gordon, founder of TradingAnalysis.com, said Facebook may retest the US$150 mark which was the old low from April 2018. 

Facebook stock was higher by 0.84% at US$163.90.

One day after being lashed by US Senator Bernie Sanders, Amazon.com Inc (NASDAQ:AMZN) opened some of its warehouses in a tour as part of a charm offensive to push back against claims its warehouse workers are not being treated fairly, a report by Vice News said. The report said they were not allowed to bring cameras or take pictures during the tour. The official conducting the tour said he cannot divulge how many employees worked in the warehouse. He made sure to point out though that the warehouse in Chester, Virginia, had air conditioning.

Amazon shares increased 0.65% to US$1,971.11. 

FAANG Report: BEZOS Act to hit Amazon, Walmart; search monster Google turns 20 years old

Netflix Inc (NASDAQ:NFLX) shares have rebounded after RBC Capital Markets raised its price target for the streaming conglomerate, a report by CNBC said. RBC raised its price target for Netflix to US$440 from US$360 and reiterated its outperform rating for the stock. Analyst Mark Mahaney said in a note to clients that they "view Netflix as one of the best derivatives off the strong growth in online video viewing and in Internet-connected devices." The analyst says Netflix has achieved a level of "sustainable scale, growth, and profitability that isn't currently reflected in its stock price."

Netflix stock gained 1.9% to US$353.

Alphabet Inc's (NASDAQ:GOOG) Google is testing a way to load more stories in its top story section, a report by Search Enginge Roundtable said. In this way, Google will be able to load more stories below the top three stories it has loaded on its platform, the report said.

Google shares inched up 0.08% to US$1,172.39.

View full AAPL profile View Profile

Apple Timeline

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use