What's expected at Apple's September event
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- The S&P 500 and Nasdaq saw gains, largely due to strong performance in technology stocks, particularly software companies like Salesforce and CrowdStrike.
- Salesforce and CrowdStrike shares surged following positive earnings reports and announcements, with Salesforce's AI partnership with Anthropic noted.
- Apple is expected to announce a new foldable iPhone at a September 9th event, with forecasts suggesting significant market share and revenue in the foldable segment.
- The broader smartphone market faces challenges, including rising memory costs impacting pricing, while the foldable market is projected to grow with Apple's entry.
- Market attention is also on upcoming earnings reports from various companies and a speech by the Fed Chair at the Jackson Hole Economic Policy Symposium.