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FAANG Report: Apple top seller in Alibaba's online shopping spree; Amazon discounts start Friday

New scam is making the rounds of Facebook while Amazon lists its device discounts going up this Friday, November 16

an Apple iPhone
Apple's iPhones were the top selling brand in Alibaba's Singles Day.

Apple Inc's (NASDAQ:AAPL) iPhones were the top selling mobile brand during the 24-hour annual Single's Day shopping event in China held by e-commerce conglomerate Alibaba Group (NYSE:BABA), a report by CNBC said. 

Alibaba released a list of products in various categories that had the highest gross merchandise value (GMV), or sales via the e-commerce giant's various platform. Apple topped the list in the mobile phone category, but Alibaba did not release specific figures on the number of units sold or the total GMV brought in by Apple.

The US technology behemoth was one of the 237 brands that surpassed 100 million yuan ($14.36 million) in sales during Singles Day.

Alibaba's annual event, which is also known as "Double 11" because it falls on November 11, raked in a record GMV of 213.5 billion yuan ($30.8 billion). In 24 hours, thousands of brands put massive discounts on their products, the report said.

Apple shares dropped 4.5% to trade at $195.23 by midsession on Monday.

Apple, Nike, Adidas among top-selling international brands from CNBC.

The Black Friday device discounts on Amazon.com Inc (NASDAQ:AMZN) is kicking off this Friday, November 16, a report by Cnet said.

Amazon will add more items in the days leading up to Black Friday, which this year falls on November 23, the day after Thanksgiving, and is the traditional starting day for the Christmas and New Year holiday shopping season.

There will be deals on everything from Amazon Echo, Fire tablets, Fire TV, Kindle and others, the report said.

Amazon shares fell 4% to $1,643.55.

FAANG Report: Amazon releases holiday toy catalog

A new scam is making the rounds of Facebook Inc (NASDAQ:FB), a report by Bismarck News said.

It begins with a Facebook post asking you to buy a gift of $10 or more. You're asked to add your name to a list. In exchange, the scam promises you will receive 36 gifts, the report said.

University of South Florida mass communications instructor Kelli Burns knows all about the secret sister gift exchange.

“This is a typical pyramid scheme. We’re just seeing this on Facebook this time instead of the old way of using letters, and Facebook allows it to spread a lot faster,” she added. The biggest problem with the post is it’s illegal.

“I’ve seen it on Facebook. A couple of my friends are participating,” Burns said.

Facebook stock lost 2.28% to $141.66.

READ: Facebook referred by UK information watchdog to Europe’s lead data regulator to look at its user monitoring and targeting

Alphabet Inc's Google (NASDAQ:GOOG) Pixel 3 is facing an overheating issue that is causing the flagship phone to completely shut itself while charging, a report by Tech Radar said.

Users are first hit with a notification informing them that the 'Phone is getting warm' and that some features will be 'limited while (the) phone cools down', followed by a considerable slowdown in charging speed.

If the problem fails to resolve itself, the phone will shut itself down entirely, with a 'Phone turned off due to heat' message showing upon reboot. Based on user reports, the issue seems to occur regardless of whether the Pixel 3 is being charged on the Pixel Stand, a third-party wireless charger or by a USB Type-C cable.

Google has yet to issue a statement on the matter.

Google stock declined 2.4% to $1,040.43.

FAANG Report: Google overhauls sexual harassment policy; Netflix ready for streaming battle with Disney 

Netflix Inc (NASDAQ:NFLX) users believe content has improved in the past year, putting the streaming company in a better position to raise prices, a report by MarketWatch quoting analysts from Piper Jaffray said.

"We believe, as long as the vast majority of subscribers perceive that the service is improving, Netflix will be positioned to periodically increase price," wrote Piper Jaffray analysts, led by Michael Olson.

"Oscar nominations for upcoming Netflix films would, no doubt, have a favorable impact on existing and potential subscribers' view of the content being made available to them," he added.

Netflix shares dropped 3.83% to $291.86.

Reporting by Rene Pastor, contactable on [email protected]

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