Apple

Ticker AAPL

Today's data summary

Market closed
% change
-3.20%
Price US dollars
165.48
Change
-5.47
As of 21:20 16 Dec 2018
Market cap. US dollars
799,256.15 million
As of 21:18 16 Dec 2018

Latest updates

Apple to build new $1bn campus in Texas

Apple logo
Getty Images

Apple is to invest $1bn (£800m) in building a new campus in North Austin, Texas and will spend another $10bn for new data centres as part of a five-year investment plan aimed at creating 20,000 jobs in the US.

The Cupertino-based company said it would also to set up new sites in Seattle, San Diego and Culver City, California and expand operations in Pittsburgh, New York and Boulder, in Colorado, over the next three years.

Apple, which gets over half its revenue from outside the US, has faced increasing political pressure to increase investments at home since 2016, when then presidential candidate Donald Trump targeted the company for using Asian factories for the bulk of its manufacturing.

Huawei arrest puts 'bullseye' on Apple

A woman looks at Apple iPhones
Getty Images

BBC North American tech correspondent Dave Lee says the fallout from Meng Wanzhou's arrest will mean an even more difficult relationship for the handful of US tech giants that have found great fortune in China.

Perhaps none more so than Apple, the poster child for US tech success, and a company that relied on China for 20% of its revenues this past year.

Read more from Dave Lee

US markets recover

The S&P 500 has turned positive with help from technology stocks in a volatile session.

The energy index was the S&P's biggest percentage loser followed by financials, which have been dogged by worries about cooling global growth, interest rates and trade tensions.

But an afternoon comeback in Apple shares appeared to cheer up investors in the broader technology sector.

The Dow Jones was up 0.04% at 24,398.6 points, while the S&P 500 gained 0.14% to 2,636.7. The Nasdaq added 0.79% to 7,023.9.

After a sea of red in the morning, seven of the 11 major S&P sectors were positive by late afternoon. The technology sector led the gainers with a 1.4% gain.

Apple was trading up 0.6% at $169.54 after hitting a low of $163.33 earlier in the day.

Apple cloud hangs over Wall Street

Apple shares are weighing on Wall Street.

News that chip maker Qualcomm has won a court case that temporarily halts the import of some iPhones saw Apple's stock fall 2% at the open.

The Dow Jones fell 0.1% to 24,360.9 points are the start of trading. The S&P 500 opened 0.08% lower at 2,630.86. The Nasdaq 0.1% to 6,959.6.

BreakingChina court said to ban several iPhone models

Apple shares are dropping in pre-market trading on news that chip supplier Qualcomm said it had won a preliminary order from a Chinese court banning the import and sale of several iPhone models in the country.

According to reports, the order came from the Fuzhou Intermediate People's Court in China, the same court that earlier this year banned the import of some of memory chip maker Micron Technology chips into China.

Qualcomm initially filed the case in China in late 2017. The court found Apple violated two of Qualcomm's software patents around resizing photographs and managing applications on a touch screen.

Just ahead of Wall Street's open, Apple shares were down 3%.

Time for Apple to redefine its core

Apple personal computer
Get
Apple: 1984 is a long time ago...

CNBC reports on an interesting research note by banking group, HSBC, about the future of Apple whose iPhones sales are slowing.

Shipments of the smartphone - which accounts for around 60% of Apple's total revenue - fell below expectations in the final three months of its financial year, the fourth consecutive quarter they have done so.

"Nearly 35 years after 1984, it's time for Apple to redefine its core," HSBC wrote, referencing the launch of the company's personal computer more than three decades ago.

It says: "Apple's iconic hardware unit growth is broadly over for now. What has made the success of Apple, a concentrated portfolio of highly desirable (and pricey) products is now facing the reality of market saturation."

It reckons that Apple's should concentrate on areas it is already investing in: augmented reality glasses, autonomous driving and health services.