iPhone Anticipations
By Mon, Oct 12, 2020
Hey Scoopers,
The market had a good week as the talk about the stimulus package progressed in Congress. — More on that in the “Overall Market” section.
Beyond the overall market, a possible acquisition gave a chip stock a boost into the green zone, while the same acquisition news sent another chipmaker’s stock down in the red zone. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, anticipation is higher than ever for the new iPhone. — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
Market Recap
- U.S. markets: All three indices ended Friday in the green. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price finally had a good week and surpassed the $11,000 price level by Sunday evening.
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Good Week
Unlike the week before, last week ended to be a positive one for stock market indices. As usual, the Nasdaq index led the pack, and the other two followed suit. The second stimulus package’s progress in Congress was the main reason the market had a good week, despite some confusion in the early parts of the week about whether the stimulus is a priority.
Investors Love Getting Acquired
So, what happened?
Shares of Xilinx Inc (Ticker: XLNX) were up by more than 14% on Friday. The company makes the kind of chips that can be programmed after they are manufactured. That means the chip’s processing can be customized by the type of task it is needed for at that moment. Rumors have it that Advanced Micro Devices, Inc. (Ticker: AMD) is in late-stage talks to acquire Xilinx. As always, acquisitions tend to be good news for investors, and Xilinx’s investors are no exemption.
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Investors Hate Acquiring Companies
So, what happened?
Shares of Advanced Micro Devices, Inc. (Ticker: AMD) were down by approximately 4% on Friday. Like we discussed in the “What’s Up” section, rumors have it that the company is acquiring next-gen chipmaker Xilinx (Ticker: XLNX). As always, acquiring companies tend to be bad news for investors, and AMD’s investors are no exemption.
Peak Anticipations
So what happened?
People are anticipating one of the most significant iPhone events. Apple (Ticker: AAPL) has chosen a separate event for its new iPhone release after it held its usual product launch events earlier in the year. That’s why people believe the upcoming event will be of significant importance, and perhaps it would reveal a very different iPhone to the world.
The world is anticipating a new iPhone. The anticipations are at their peak.
If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.
About the Author
The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card
