Tech giants Apple (AAPL), Amazon (AMZN), and Nvidia (NVDA) have been making headlines in the stock market as the year draws to a close. Let’s take a closer look at what’s been happening with each of these companies.
AAPL Year-To-Date Performance
Apple smartphone sales in China have reportedly fallen short of those of Hauwei and Xiaomi during the country’s recent Singles Day shopping event. This news comes from data provided by Counterpoint Research, which showed a 4% decline in iPhone unit sales compared to last year. However, Wedbush analyst Daniel Ives remains optimistic about Apple’s standing in Asia, citing strong supply chain checks for the upcoming iPhone 15 and forecasting a strong performance into 2024. Despite the slightly lower sales, Apple’s shares are still up 52% for the year, and there are positive growth prospects in India as well.
NVDA Year-To-Date Performance
Nvidia is facing a delay in the launch of its new artificial intelligence chip for China due to U.S. export restrictions. The H20 chip, designed to comply with these restrictions, will be delayed until the first quarter of 2024. This move follows the tightening of export rules on more advanced AI chips to China by the U.S. government. Despite the news, Nvidia’s shares have surged 237% this year, and the delay is not expected to have a material impact on the company’s long-term sales performance.
AMZN Year-To-Date Performance
In a partnership with the NFL, Amazon’s Prime Video will exclusively stream the Miami Dolphins and the New York Jets in the league’s first-ever Black Friday game. This broadcast will also feature QR codes linking to Amazon’s Black Friday deals, integrating e-commerce sales with sports viewing. Despite a slight decline in shares on Friday, Amazon’s stock is up nearly 70% for the year. This move signals Amazon’s increasing pursuit of traditional TV assets, expanding its advertising opportunities and potential for television commerce.
Ultimately, these updates do not deter us from our positive outlook on these tech giants, and each company continues to show promising long-term potential. These developments are just part of the ongoing shifts in the technology and retail landscape. As investors, it’s crucial to consider the bigger picture and long-term growth prospects when assessing these companies.
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