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U.S. stocks closed down across the board, the Dow fell more than a hundred points, Apple and Microsoft fell more than 1% - Naijatechnews
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U.S. stocks closed down across the board, the Dow fell more than a hundred points, Apple and Microsoft fell more than 1%


Naija Tech News (NTN) on 18, and in content, U.S. stocks closed down across the board, the Dow fell more than a hundred points, Apple and Microsoft fell more than 1%, apple, Microsoft, U.S. stocks .

 

Investors’ are concerns about the prospect of rapid economic recovery and the government’s delay in launching a stimulus plan suppressed the US stock market’s decline. As of the close, the Dow fell 130.4 points, or 0.47%, to close at 27901.98 points ; the S&P 500 index fell 28.48 points, or 0.84%, to close at 3,357.01 points; the Nasdaq fell 140.19 points, or 1.27%, to close at 10910.28 point.

Major US technology giants fell across the board:

Major U.S. tech giants

Most major Chinese technology stocks fell:

Major Chinese technology stocks

China Concept Stock Price

Most of the other Chinese concept stocks fell, and the companies that rose included:

Rising other Chinese concept stocks

Companies that were on par with the previous trading day include:

Other Chinese concept stocks that were unchanged from the previous trading day

Companies that fell include:

Other Chinese concept stocks that fell

JD.com Health may IPO in Hong Kong as early as this month, JD.com fell nearly 1%

An unnamed source revealed that JD Health, the online health department of JD.com, had an IPO (initial public offering) in Hong Kong as early as this month. It is reported that JD Health will raise at least US$1 billion through IPO. However, the details including the scale and timing of financing have not yet been finalized and may change. A JD spokesperson declined to comment. Due to the surge in investor demand and high stock prices, Asian Health companies have repeatedly hit peaks in financing. Several biotech companies have IPOs in Hong Kong. Bloomberg data shows that since this year, Asian Health companies have raised approximately US$12.7 billion through IPOs, more than any year in the past 12 years. At the time of its second listing in Hong Kong in June, JD.com raised approximately US$4.5 billion. In today’s regular trading, JD’s share price on the Nasdaq Stock Exchange fell by US$0.72, or 0.96%, to close at US$74.37, which hit a bottom of US$72.76 during the session.

51job received the offer and its stock price rose by more than 16%

After disclosing that DCP Capital Partners, a private equity investment company, approached the acquisition, the stock price of 51job.com rose by 14% in pre-market trading today. According to the initial non-binding tender offer received by 51job.com, DCP Capital Partners will acquire the company at a price of US$79.05 per share and a total price of US$5.3 billion. Compared with the closing price of US$68.12 of Worry-Free from the previous trading day, DCP Capital Partners’ purchase price is a premium of 16.05%. According to the tender offer, DCP Capital Partners intends to use the cash held and the issuance of bonds to fund the transaction. 51job.com’s board of directors plans to evaluate the takeover offer. The board of directors reminded the company’s shareholders and other investors considering trading the company’s stock that the board of directors has just received the offer and has not yet had the opportunity to carefully review or evaluate or make any decision on the acquisition, nor can it guarantee that the two parties will eventually reach any agreement or guarantee the capital The transaction or any other transaction will be approved or completed by the relevant parties. According to documents submitted by 51job in April 2020, the company’s co-founder and CEO Rick Yan (Rick Yan) holds 12,937,539 ordinary shares, with a shareholding ratio of 19.2%, and is the second largest shareholder. Recruit Holdings holds a 35% stake in 51job.com and is the largest shareholder. Massachusetts Financial Services Company is 51job’s third largest shareholder with a shareholding ratio of 5.4%. 51job.com COO and CFO, Kathleen Chien, holds a 3% stake. In today’s regular trading, 51job.com’s share price rose by 11.3 US dollars, or 16.59%, to close at 79.42 US dollars.

US/Foreign Technology Stocks

Most other foreign technology stocks fell, and the companies that rose included:

Rising other foreign technology stocks

Companies that were on par with the previous trading day include:

Other foreign technology stocks that were unchanged from the previous trading day

Companies that fell include:

Other foreign technology stocks that fell

Apple shares fell below the 50-day moving average for the first time in 5 months

Being optimistic about the huge opportunities in the 5G era, investment company Jefferies issued an investment report on Thursday, raising Apple’s target stock price. Jefferies analyst Kyle McNealy wrote in the investment report, “The current U.S. market upgrade rate is quite low, Apple has eroded Huawei’s market share in Europe, and the huge Chinese user base is considering upgrading mobile phones.” He will Apple’s target stock price is raised from US$116.25 to US$135. McNealy estimates that the current upgrade rate is about 5% per quarter, lower than the 8% to 10% between 2014 and 2016. In order to attract new 5G users, operators will increase product attractiveness through promotional activities. Given that his recent survey showed that 75% of respondents are still using iPhone 6, 7, and 8, he is quite optimistic about Apple’s potential in the Chinese market. McNealy rated Apple’s stock as “buy.” Apple’s stock price has risen 26% in the past three months, which is much higher than the 7% increase of the Dow Jones Industrial Average in the same period. This afternoon, Apple’s stock price fell 1.7%, which was the first time in 5 months that it fell below the 50-day moving average. FactSet’s data shows that the current 50-day average price of Apple is US$110.358. The last time Apple’s stock price fell below the 50-day moving average was April 21 this year. The investment company MKM Partners executive O’Hara recently issued an investment report saying that “focusing on the rise and fall of the moving average is more important than the rise and fall of the stock price.” In today’s regular trading, Apple’s stock price fell by $1.79, or 1.6%, to close at $110.34. , It bottomed out at $108.75 during the session.

 

The relative strength index of Google’s parent company is only 75

Since the beginning of this year, Google’s parent company Alphabet’s share price has not performed as well as Apple, Amazon, Facebook and some other tech giants. Now, it may face another challenge: the antitrust lawsuit of the US Department of Justice. Analysts said that Google’s Internet search business is closely related to the global macroeconomic situation. Some analysts see YouTube as a catalyst for Google’s stock price. Bank of America Merrill Lynch expects YouTube subscription service revenue to reach US$18 billion in 2025. Compared with Amazon and Microsoft, Google’s performance in cloud computing is lacklustre. One of Google’s share price strengths is artificial intelligence, and its performance in data centers, artificial intelligence, Youtube and consumer hardware is also great. Although involved in cloud computing and consumer hardware, digital advertising still accounts for most of Google’s revenue. Due to huge investments in cloud computing data centers, artificial intelligence, YouTube and other consumer products, Google’s profit margins are facing greater pressure. At the beginning of 2018, some analysts estimated the long-term value of Waymo to be between 75 billion and 125 billion US dollars. However, the market’s expectations for autonomous vehicles have recently been lowered. At the beginning of March, Waymo raised US$2.25 billion. Although Google did not disclose the valuation of Waymo at the time, it was reported that it was only US$30 billion. According to IBD data, the relative strength index of Google’s parent company is 75, out of 99 points.

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