NEW YORK (Reuters) – A weaker-than-expected election performance by Democrats and fears of new coronavirus restrictions have prompted investors to double down on high-flying technology stocks, which have come roaring back in recent days to put the Nasdaq within striking distance of a record.
Since Election Day, the tech-heavy Nasdaq Composite is up 6.6%, easily outpacing the 4.2% gain in the broad S&P 500 over the same time. This was partly driven by investors and traders unwinding trades placed on pre-election assumptions of a Democratic sweep which they thought would usher in higher taxes and more regulation.
Polls had forecast Democrats would solidly win the presidency on Tuesday, extend their control in the House of Representatives and potentially win control of the Senate. While Democratic candidate Joe Biden looks likely to win the presidency, the margin of victory appears to be razor thin; Democrats lost seats in
Recent numbers from streaming video companies show that the growth of cloud-based entertainment services is quite sustainable for the long term – making them some of the most valuable companies on earth.
Netflix (NFLX) recently weighed in with a valuation of $240 billion, and some Wall Street analysts are giving YouTube (owned by Google parent Alphabet) a value of $300 billion if it were spun off. Roku (ROKU), which went public in 2017, now has a valuation of $30 billion after an explosive earnings report.
The question is: How sustainable is it? We know that the COVID-19 has driven the growth of all cloud services, ranging from cloud computing and applications development to entertainment services such as online streaming. With these companies now richly valued, it will come down to how much of the increased streaming activity will stay for the long term, however fast the pandemic is solved. It
Apple’s Mac and Services segments reached all-time record highs during the company’s fourth fiscal quarter of 2020, smashing previous records in both sectors.
The company reported Services revenue of $14.5 billion during the period, topping the previous record of $13.3 billion. Apple’s Mac segment brought in more than $9 billion in revenue, up significantly from the previous record of $7.4 billion and 29% year-over-year.
Credit: Malcolm Owen, AppleInsider
Both product categories helped Apple hit a revenue record of $64.7 billion for the September quarter up 1% year-over-year. That’s despite the fact that iPhone sales were at their lowest point ever in Q4 since 2014, largely because of the uncharacteristic lack of new iPhone models during the period.
Credit: Malcolm Owen, AppleInsider
According to CEO Tim Cook, Apple grew every category outside of iPhone by double digits. For Services and macOS devices, the company likely experienced continuing work-at-home and remote education
According to a Counterpoint report, India’s smartphone market just hit a record quarterly high.
The industry was buoyed by the likes of Samsung, Oppo, and OnePlus.
The OnePlus Nord is now the best-selling device in the upper mid-tier segment.
Smartphone makers probably won’t consider 2020 a good sales year, but there are now signs of recovery in some regions and for some OEMs. According to research from Counterpoint, India’s smartphone market recovered to record quarterly shipments in Q3 2020.
53 million units were shipped in Q3 2020 in India, up by 9% year-over-year. This growth wasn’t driven by demand for flagships, though. The Rs 10,000-Rs 20,000 (~$135 to $270) sector recorded its highest growth and highest market share in the quarter.
Users willing to spend a little more are also grabbing one device in particular. The OnePlus Nord is now the best-selling phone in the Rs 20,000 – Rs 30,000
India’s smartphone shipments hit a record high in Q3 2020.
The news comes after a major drop of almost 50% in Q2.
Indian smartphone shipments dropped by almost 50% in Q2 2020 due to the ongoing COVID-19 pandemic. This made for historic lows in the market, but it looks like Q3 2020 has given us a record high.
Tracking firm Canalys reported that smartphone shipments in India reached 50 million units in Q3 2020. This is an all-time record according to the firm, growing 8% year-on-year. Back in Q3 2019, India reportedly saw shipments of 46.2 million units.
Canalys analyst Adwait Mardikar explained that reduced lockdown restrictions have “created the perfect atmosphere for sustained growth.” He added that online channels are also winning big with plenty of devices launching ahead of the festive season.
Canalys research analyst Varun Kannan also noted that Chinese brands accounted for 74% of Indian shipments