Tesla, XPeng, Nio rise premarket; AstraZeneca, AMC Entertainment fall
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Apple (AAPL) app store FX headwinds should moderate in June quarter - UBS
July 5, 2023 10:55 AM EDTApple (NASDAQ: AAPL) App Store growth in the June quarter tracked in line with UBS's App Store and Services forecast, the firm said in a note Wednesday,
Analyst David Vogt said revenue growth for the App Store in the quarter rose by 5.9%... More
North America and Europe lead surge in global EV demand
July 5, 2023 9:41 AM EDTAnalyst Ranulf Orr from Citi Research reported a surge in demand for Battery Electric Vehicles (BEV) in May, with a 46% increase compared to the previous year. The primary drivers of demand growth were Europe and North America, experiencing respective year-on-year rises of 59% and 50%. In contrast, China's growth was more... More
Needham remains sidelined on Tesla (TSLA) following 2Q delivery beat
July 5, 2023 8:47 AM EDTNeedham reiterated a Hold rating on Tesla (NASDAQ: TSLA) after the electric giant posted its 2Q production and delivery numbers, beating consensus estimates by about 5%.
Over the past year, the growth in TSLA's production capacity has surpassed the growth in vehicle deliveries. As a result, there have been several rounds of price cuts throughout the year, with the most significant reductions occurring in early Q1. According to Needham, TSLA's inventory is still expanding, albeit at a slower pace. They consider this a mildly positive development, but they believe that additional confirmation... More
Tesla (TSLA) cuts prices in Japan
July 5, 2023 8:25 AM EDTTesla (NASDAQ: TSLA) revealed Tuesday that the electric vehicle giant cut prices for its Model 3 and Y electric vehicles by 3-4% in Japan this month.
According to the company's website, prices for all versions of its more affordable Model 3 have been reduced... More
Chinese EV start-ups surge following June delivery numbers
July 3, 2023 9:03 AM EDTShares of Chinese electric vehicle makers Nio (NYSE: NIO), Li Auto (NASDAQ: LI) and XPeng (NYSE: XPEV) are surging pre-market after the three announced June delivery numbers.
NIO is up 4.2% in pre-market trading Monday after the Chinese automaker announced over the weekend that they delivered 10,707 last month, a 17.4% drop from the same time last year, but a significant 74% increase from numbers reported... More
