Today’s Research Reports on Stocks to Watch: Apple and Square
Apple may have closed with a slight loss but the news was rampant. Next to some acquisitions, it was Kanye West who pitched an idea to President Trump about a plane that should be designed by Apple. Shares of Square saw a big loss yesterday as traders learned that the company’s pivotal CFO, Sarah Friar, would be leaving the company to pursue leadership of another company.
RDI Initiates Coverage on:
Apple Inc. shares ended up with a modest loss of 0.88% at the close on Thursday and won those losses back in extended hours. According to a TechCrunch report, the iPhone maker is paying $300 million in a cash deal to buy a portion of Dialog Semiconductor, a European chipmaker that has been working with since the first iPhone. Apple will also prepay a further $300 million for products to be delivered to Apple over the next three years. At the end of last year, it was also revealed that the company acquired Danish company Spektral for $30 million. It wasn’t until yesterday that a Danish newspaper called Børsen reported the acquisition that had been quietly done. Spektral has software that erases backgrounds from videos instantly. Yesterday Kanye West also had a much talked about meeting with President Trump where he discussed a plane design that he thinks should be made by Apple. TicToc by Bloomberg tweeted, "Kanye West thinks Trump should ditch Air Force One for this plane to be manufactured by Apple #tictocnews"
Access RDI’s Apple Inc. Research Report at:
Square, Inc. shares were down nearly 11% on Thursday on news that the company’s CFO Sarah Friar is stepping down from the company to go be the CEO at Nextdoor. Nextdoor is a social network that helps neighbors communicate with each other. CEO Jack Dorsey said to employees, "I’m saddened by the news. I was unrealistically expecting to be working with Sarah well into our late 90s (swapping the standup tables for rocking chairs). Unrealistic because I knew of Sarah’s lifelong ambition to run her own company." He also added, "Sarah leaves us having established a culture of entrepreneurship and discipline across the entire company. She has been an amazing leader, partner, and friend, and we are grateful for all she’s done for Square."
Access RDI’s Square, Inc. Research Report at:
Our Actionable Research on Apple Inc. (NASDAQ: AAPL) and Square, Inc. (NYSE: SQ) can be downloaded free of charge at Research Driven Investing.
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