Today we are watching…
1. Apple (#appl)
The WWDC 2020 keynote is when all cameras focus on Apple’s Tim Cook, announcing the tech brand’s latest projects. It took place digitally yesterday, and we now know we’re in for iOS 14 that has a new home screen for iPhones, iPadOS 14, MacOS Big Sur, and watchOS 7. However, none of that grabbed investors’ attention like the announcement of in-house chip manufacturing. Steve Jobs formed the alliance with Intel 15 years ago, so this is the end of a long relationship. It’s not good for Intel, but Apple’s cost structure just lowered and its promising fans faster performance. Apple’s stock price gains surpassed market-wide gains yesterday. Intel? The news is still being digested.
2. Fastly (#fastly)
Catch up if you can! Fastly is the stock market’s fastest stock market gainer this week; up 60% over the past seven trading days. It’s a stay-at-home stock, of course, but it’s business-to-business, not business-to-consumer. “It’s customers are a lot of the next bleeding-edge companies such as Spotify, Slack, and Shopify,” says DA Davidson analyst, Rishi Jaluria. It delivers cloud technology helping internet users retrieve digital content quickly, and the fundamentals are all there. With the stock going to the moon, we’re likely to see markets take a breather soon, but it’s one we’ll deep dive into soon!