Scalper1 News
Apple (AAPL) stock sank Monday after retail reports indicated a lackluster start to the holiday shopping season overall. U.S. consumers spent 11% less over the four-day Black Friday weekend compared with a year earlier, according to the National Retail Federation. That put a damper on consumer electronics stocks as a group. Apple shares fell 3.3% to 115.07 on Monday. Action camera maker GoPro (GPRO) saw its shares drop 5.7% to 73.50. Outdoor and fitness device maker Garmin (GRMN) watched its stock drop 1.9% to 56.24. Consumer electronics retailer Best Buy (BBY) sagged 5.5% to 37.26. Apple stock hit a record high of 119.75 on Nov. 25 in the lead-up to Black Friday. Many big retailers used Apple iPhones, iPads and Beats headphones as promotional items to generate traffic in their stores last weekend. Some analysts remain bullish on Apple. In a report Monday, UBS analyst Steven Milunovich reiterated his buy… Scalper1 News
Scalper1 News