Tech stocks were volatile on Monday as strengthening AI optimism from bullish Nvidia (NVDA) earnings last week clashed with increased odds of a Fed interest rate hike in September.
It's a momentous day for one company in particular — Apple (AAPL). Longtime CEO Tim Cook steps down on Sept. 1 and will hand the reins to senior vice president of hardware engineering John Ternus.
Cook was seen as a savvy operator, navigating the company through tariffs, supply chain snarls, and the launch of new products such as the Apple Watch and AirPods. He also quadrupled Apple's yearly revenue.
Elsewhere in tech, it was a mixed bag. Semiconductor stocks edged higher on the whole, while software stocks wavered, coming off a big week of decisively strong earnings. Several of the "Magnificent Seven" hyperscaler stocks, however, dropped as concerns about higher borrowing costs and capital expenditures weighed on shares.
OpenAI (OPAI.PVT) fought back against allegations that it stole trade secrets from Apple (AAPL), according to a new court filing published on Monday, as a legal battle between the two highly secretive tech firms heats up.
#stocks #Apple #Tech #company
It's a momentous day for one company in particular — Apple (AAPL). Longtime CEO Tim Cook steps down on Sept. 1 and will hand the reins to senior vice president of hardware engineering John Ternus.
Cook was seen as a savvy operator, navigating the company through tariffs, supply chain snarls, and the launch of new products such as the Apple Watch and AirPods. He also quadrupled Apple's yearly revenue.
Elsewhere in tech, it was a mixed bag. Semiconductor stocks edged higher on the whole, while software stocks wavered, coming off a big week of decisively strong earnings. Several of the "Magnificent Seven" hyperscaler stocks, however, dropped as concerns about higher borrowing costs and capital expenditures weighed on shares.
OpenAI (OPAI.PVT) fought back against allegations that it stole trade secrets from Apple (AAPL), according to a new court filing published on Monday, as a legal battle between the two highly secretive tech firms heats up.
#stocks #Apple #Tech #company
15 days ago
