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iPhone 8 in an Apple Store

News

The Market Glance for October 30: Weak iPhone 8 Demand Concerns Apple

Asif Imtiaz Oct 30, 2017


More good news for value investors who are looking for steady dividend payments this quarter as the market is about to get showered with news of corporate earnings growth and more importantly, an expectation of heftier bottom lines from America’s favorite tech companies.

After the announcement of the trio of new iPhones last quarter, Apple Inc. (AAPL ) investors were expecting clear sailing, but lackluster demand for the iPhone 8 has certainly spoiled that mood in recent weeks. Also, Apple’s recent bearish tendencies likely concern analysts because of the sheer size of Apple’s $800 billion market capitalization.

In the broader economy, not much is going to happen this week as the Fed is not expected to make any major policy shifts in this week’s meeting. Nevertheless, keep an ear to the ground for any clue regarding inflation worries from the Fed as it may rattle the market.

Check out last week’s Market Glance here, in which the focus was on the booming technology sector.

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