US stocks moving higher as the clock ticks toward the close

The major stock indices are moving higher as the clock ticks toward the close.

• Dow Industrial average is up 231.10 points or 0.60% at 44985.90
• S&P is up 37 points or 0.62% at 6077.11
• Nasdaq is up 78 points or 0.40% at 19711.
• Russell 2000 is up 34.78 points or 1.52% at 2317.91

Apple will announce their earnings after the close:

• Earnings Expectations:

  • Apple is expected to report EPS of $2.35 (up from $2.18 YoY). Up 7.79%
  • Revenue of $124.26 billion (up from $119.5 billion YoY). Up 3.9%

• Revenue Breakdown:

  • iPhone Segment: Projected revenue of $71 billion (up from $69 billion YoY).
  • Services Segment: Expected revenue of $26 billion (up from $23.1 billion YoY).
  • Greater China Revenue: Estimated at $21.5 billion (up from $20.8 billion YoY).

• China Market Challenges:

  • China revenue dropped 8% in 2024 and 2% in 2023, with Apple citing currency weakness and lower iPhone/iPad sales.

• Upcoming Product Launches:

  • New entry-level iPhone SE, iPads, and MacBook Airs set to launch, expected to drive revenue growth.

• Stock Performance:

  • Apple’s shares are up 24% YoY, comparable to Google’s 27% rise.
  • Nvidia’s stock is up 102% YoY, despite recent concerns about China’s DeepSeek AI platform potentially reducing demand for AI chips.

Shares of Microsoft are still down sharply after earnings after the close yesterday. Shares are down -6.01%.

Meta-, on the other hand is up 2.02% after the earnings announcement last night, while Tesla shares are up 3.98%.

Broadcom has rebounded after falling sharply on the Nvidia meltdown. It’s shares are up 5.27% today.

Buyers of Nvidia are less enthusiastic. It’s shares are down $-1.13 or -0.93% at $122.50

This article was written by Greg Michalowski at www.forexlive.com.