As September 2020 is nearing the end, the stock market has been volatile. At the same time, the market sentiment has been trending towards negative territories. Tech stocks that have been bullish until early September have lost their momentum and their stock prices have significantly declined. Stocks driving the market are from most industry sectors. The stocks include major players such as Apple's (AAPL), Tesla (TSLA), Nvidia (NVDA), Johnson & Johnson (JNJ), Twitter (TWTR), Slack Technologies (WORK), Bank of America (BAC), JPMorgan Chase (JPM), Oracle (ORCL), Alphabet (GOOG), Amazon (AMZN), Walmart (WMT), Costco (COST), Home Depot (HD), Lowes (LOW), Zoom (ZM), Microsoft (MSFT), Facebook (FB) .What are those stocks and what is the sentiment. AroniSmart Team, leveraging AroniSmartInteligence and AroniSmartInvest tools (see here Aronisoft, LLC: AroniSoft, LLC: Machine Learning, Advanced Analytics, Text and Sentiment Analysis, Investment Research and more), has conducted Sentiment and Valence analysis and found broad negativity.
On August 29, 2020, Apple's (NASDAQ:AAPL) and Tesla (NASDAQ: TSLA) stocks remain in the record high range, when Apple price reached $504.05 and its market capitalization increased to $ 2.135 trillion. Tesla price went up to $1,993.28. This string performance happened as for Apple (AAPL) and Tesla (TSLA) were getting ready for stock splits. The 4-for-1 stock split happenned on Monday August 31, 2020.
Immediately after the splits, the stocks for both Apple and Tesla shot up, respectively hitting $137.93 and $498.32. Then, something happened. By the end of the week, on Sep 4, 2020, the prices of the stocks of the 2 companies had significantly declined. Tesla stocks went from $498.32 to $418.32 or -16%. Apple stock declined from $134.18 to $120.96, or -10%. The question is now: what happened and what is likely to happen?
Apple's (NASDAQ:AAPL) stock remain in the record high range on Friday, when its price reached $504.05 and its market capitalization increased to $ 2.135 trillion. The 52-Week Range was $201.22 - $515.14. Stock market futures are higher, as getting Ready for for Apple (AAPL) and Tesla (TSLA) stock splits. The 4-for-1 stock split will happen on Monday August 31, 2020.
On Friday July 31, 2020, Apple’s stock hit a record high. The record came a day after Apple reported strong quarterly results. Apple beat the Wall Street estimates for revenue at $52.2 billion, hitting $59.7 billion, an increase of 11 percent compared to the quarter a year ago.
On July 18, 2020, AroniSmart™ team, leveraging the Machine Learning Time Series capabilities and Dominance Analysis of AroniSmartIntelligence™, looked at the trends of Apple Inc. (NYSE: AAPL) vs other 13 companies and came up with insights and projections on the dynamics (AroniSmart:AroniSmartIntelligence™ in Action: Apple (AAPL) Stock Performance Support Vector Machine and Dominance Analysis).