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Apple Drops, SpaceX Tumbles, Netflix Plunges Most in Four Years on Slowing Growth
Description
On this episode of Stock Movers:
- Apple (AAPL) shares drop. Apple Inc. is again the biggest company in the world after wresting the title from Nvidia Corp. Apple's stock climbed 0.4%, putting its valuation at $4.9 trillion, while Nvidia shares sank 3.7% to bring the chipmaker’s market capitalization down to $4.8 trillion. - SpaceX (SPCX) shares tumbled on Friday, putting the rocket and artificial intelligence giant on track to wipe out more than $1 trillion in market value from its all-time high. Elon Musk’s company — officially known as Space Exploration Technologies Corp. — initially rallied after the largest initial public offering in history, but has lost ground since and is trading below the $135 IPO price.
- Netflix (NFLX) shares fell after the company forecast a second consecutive quarter of slowing sales growth, contributing to investor anxiety about the streaming giant’s future. The company projected revenue of $12.9 billion in the current quarter and earnings of 82 cents a share, both a little shy of analysts’ expectations.
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