Apple, Amazon, Tesla, Ford, AMD: Hawkish Fed, COVID-19 Woes Boost Retail Interest in These Stocks Today – Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN)
Wall Street’s major indexes closed more than 1.5% lower on Wednesday after witnessing a volatile session under the chairmanship of the Federal Reserve by Jerome Powell political announcement.
Although markets initially applauded the 75 basis point rate hike, which was in line with expectations, as well as Powell’s indication of a decline in future hikes, the central bank’s anticipation of a bar higher for interest rates led to a later sale.
Here are the five stocks that are catching the attention of retail investors after the Fed’s announcement and due to other factors:
1.Apple Inc. AAPL: China asked for an industrial park housing an iPhone factory belonging to Foxconn Technology Co Ltd FXCOF to enter a seven-day lockdown on Wednesday, reported Reuters. Zhengzhou Airport Economic Zone in central China said it would implement “silent management” measures with immediate effect, according to the report. Apple shares closed down 3.73% on Wednesday, in line with the market after the Federal Reserve policy announcement.
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2. Amazon.com, Inc. AMZN: Amazon led the fall among big tech stocks on Wednesday after the Fed’s hawkish statement caused huge volatility in the US stock market. Shares of the retail giant closed down 4.82% on Wednesday while its market capitalization fell below $940 billion.
3. Tesla Inc. TSLA: Tesla has reportedly closed its first showroom in China as the electric vehicle manufacturer seeks to adjust its sales and service strategy in its second market. Shares of the electric vehicle maker closed down 5.64% on Wednesday.
4. Ford Motor Company F: Ford’s U.S. sales fell 10% last month as the automaker grappled with supply chain issues that delayed deliveries to dealerships, reported CNBC. Ford reported sales of 158,327 new vehicles in October, up from 176,000 units sold in the same month a year earlier. Shares of the company closed down 2.54% on Wednesday.
5. Advanced Micro Devices, Inc. AMD: AMD has taken more market share in the lucrative data center sector from its rival intel company INTC in the third quarter and it drew praise from Wall Street analysts, reported Reuters. “(AMD) is delivering its data center story, and Intel’s gradual collapse has removed some of the constraints on the narrative,” Bernstein analyst Stacy Rasgon written in a note, the report says. AMD shares closed down 1.73% on Wednesday.