According to recent and latest reports, two of the largest tech companies in the world, Alphabet and Apple have erased their gains for the year.
Reports reveal that markets slid on Friday, which caused both companies to erase their gains for the year.
On the whole, the tech sector was a little down whereas the market, on the whole, was too. On Friday, the Nasdaq composite index dropped by 3.1 percent.
Additionally, a lot of people had different speculations for Apple and Alphabet but clearly, amidst these all concerns, Apple and Alphabet were generally lower.
Unfortunately for Apple, things have been a little rocky. The company has been struggling to maintain its plan as the top most valuable public company in the world. On Friday, Microsoft was ahead of Apple. Amazon was ahead of Apple too. Essentially, Apple struggled amidst higher competition from all corners.
It is evident that Apple has been slipping in terms of share price. The iPhone has reported slower growth, whereas its speculation was fuelled by the company’s announcement in the 4th quarter which shows that it will no longer report unit sales for its infamous product, the iPhone.
Moreover, as a result, many important and key suppliers have cut their revenue forecasts for 2018.
On the other hand, a lot of comments are being made about the on-going trade war between US and China too.
Cramer Remix suggested that the trade war right now is not about trade but it is essentially about global domination.
The S&P 500 has also gone negative for the year and there are going to be volatile sessions for the year too.
Additionally, it is also being said that if the stock market sells off, Cramer will advise stocks to be lower irrespective of the strength of the businesses.
Stocks have fallen by 22% in 2018 after it faced a series of scandals and flattened usage in North America.
In other news, US and India are also pairing up to discover a $5 billion deal to get Russian missile systems.
It is also being said that India’s purchase of Russian made ‘S-400 missile systems’ will be subjected to US sanctions very soon.
Facebook News and Update
On the other hand, Facebook has also increased its stock buy back program and by about $9 billion.
It is being revealed that Facebook will be buying back $9 billion of shares. Moreover, it is also being said that this will lead to an additional $17 billion buyback.
On this news, Facebook stock rose.
Facebook is definitely increasing its buyback programs by $9 billion.
On this news, shares of Facebook dropped by about 1.5% during after hours of trading.
Stocks have fallen by 22% in 2018 after it faced a series of scandals and due to flattened usage.
In other news, US and India are also pairing up to find out a $5 billion deal to get Russian missile systems.
It is being revealed that India’s purchase of Russian made S-400 missile systems will be subjected to US sanctions very soon.
On the other hand, Coinbase is considering adding 30 new crypto currencies in its exchange including the XRP.
Reports reveal that popular US exchange coin base will be adding a broad range of assets including XRP.
Coinbase reported that they are continuing to add and explore new assets. They will add a broader range of assets. To do that, they will be working with local banks and regulators in order to add to their jurisdictions.
In January, the crypto currency added a record high of $3.84. XRP has gone to pull back significantly and around 29 cents. It was down by 10% on Friday whereas the Bitcoin dropped to a 15 months low.
The crypto currency spiked by about 10 percent on rumours regarding Twitter. Moreover, the XRP made its debut on Coinbase and there was no announcement as such. This shows that while Coinbase is expanding, there’s a lot more to explore.
A lot is going on on many fronts in the US and all over the world too.
For more updates, stay tuned at The Tradable.