Confidence returned abruptly for Apple (AAPL) shareholders after the stock bottomed at $165. An aggressive stock buyback more than offset fears that Berkshire’s (BRK-B) AAPL stock sale would hurt its share price.
Apple also started its campaign to fight back. It wants a U.S. judge to dismiss the Justice Department’s antitrust allegation. The DOJ and 15 states alleged that Apple monopolized the smartphone market. Markets need to wait for the DOJ to respond to Apple’s letter within seven days.
Consolidation in the streaming media sector continued. Comcast (CMCSA) announced a new streaming bundle option for customers. It will package Peacock, Netflix (NFLX), and Apple TV+ for $15 per month. This offering is available only for Xfinity internet and TV customers.
CMCSA stock is on a yearlong downtrend. Markets may view the 30% discount on the bundle as unattractive. Not only are prices falling, hurting profits, but customers may not sign up. The subscription includes a Netflix standard plan…with advertising.
Tonight is a big night for the AI sector. Nvidia (NVDA), the two trillion dollar firm that started the AI stock boom, will post quarterly results. Option volatility implies a price swing of at least 8%. The stock speculators have no idea which way NVDA stock will move after the results.