“U.S. stocks closed mostly lower Wednesday as Apple Inc., the largest U.S. company by market cap, tumbled, but the Dow Jones Industrial Average bucked the trend thanks to Boeing Inc., which soared on robust earnings,” Sue Chang reports for MarketWatch.
“The S&P 500 SPX, -0.17% slipped 3.73 points, or 0.2%, to end at 2,139.43, while the Nasdaq Composite Index which is heavily weighted toward technology names, fell 33.13 points, or 0.6%, to finish at 5,250.27,” Change reports. “The Dow Jones Industrial Average rose 30.06 points, or 0.2%, to close at 18,199.33.”
“Apple retreated 2.3% to $115.59, notching its biggest daily percentage loss since Sept. 9. Investors punished the stock after the iPhone maker posted quarterly earnings that slightly beat expectations and revenue that was just shy of forecasts,” Change reports. “Investors also may have been disappointed that the tech giant’s projections for the current quarter weren’t more bullish. Analyst Amit Daryanani at RBC Capital Markets LLC believes the selloff will result in an attractive entry point for investors to buy Apple given that the company’s fundamentals remain intact.”
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MacDailyNews Take: The world is full of fools and, therefore, profit potential abounds for the cognizant.
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