Market snapshot
- ASX 200 futures: -0.7%
- Australian dollar: +0.1% to 65.81 US cents
- Wall Street: Dow -0.9% S&P -1.9% Nasdaq -2.8%
- Europe: FTSE (-0.6%), DAX (-0.9%), Stoxx 600 (-1.2%)
- Spot gold: -1.6% to $ US2,755/ounce
- Brent crude: +0.8% to $US73.17/barrel
- Iron ore: +0.3% to $US103.80/tonne
- Bitcoin: -3.1% to $US69,752
Prices current around 8:00am AEDT (live figures below):
Apple results beat targets on iPhone 16 sales
One of the world’s biggest tech companies has just released its latest results.
Apple’s sales for the fourth quarter were almost $US95 billion ($144 billion) which beat expectations. They were bumped by strong sales of the latest iPhone.
Yet other product lines missed expectations and the China sales total was less than Wall Street expected, which helped send Apple shares down 1.2% in extended trading.
Its CEO Tim Cook says Apple customers are downloading a new version of its iPhone operating system that uses AI, at twice the rate they were a year ago.
The OS has features like helping people write an email in a “more professional” tone. Some features of it have been delayed.
Apple’s rivals Microsoft and Meta both said this week they expect continued increases in spending to support their AI strategies.
Tech stocks take a battering on Wall Street
Good morning, Emilia here with you for the next few hours.
This morning you’ll be hearing a lot about tech stocks, with Microsoft taking a hit and Apple releasing results.
Overall, Wall Street has had its worst day in weeks, with the S&P 500 down 1.9%, the Dow off 0.9% and the tech heavy Nasdaq off a whole 2.8%.
Australian share markets are expected to open lower as a result.
