Key Takeaways

• Apple’s “It’s Glowtime” event will take place Monday, Sept. 9, with analysts expecting the company to unveil the iPhone 16 supercharged with artificial intelligence (AI).
• Apple is expected to release the iPhone 16, the iPhone 16 Plus, the iPhone 16 Pro, and the iPhone 16 Pro Max, with the new models featuring upgrades to the battery and displays.
• Analysts expect Apple to maintain the pricing it offered when it launched the iPhone 15, though they noted that the AI-capable devices could pose as a “wildcard” for pricing.
• Apple could also unveil next-generation models of its AirPod and Apple Watch offerings.

Apple’s (AAPL) “It’s Glowtime” event is set to take place on Monday, Sept. 9, where the company is expected to unveil the iPhone 16 supercharged with artificial intelligence (AI) capabilities. Investors will also likely be watching for pricing and hardware differences in the new iPhone compared to previous models, and possible next-generation wearable products like AirPods and the Apple Watch.

Apple Intelligence Features

AI-supercharged Siri is likely to be a key focus of the event, with Apple’s announcement for “It’s Glowtime,” displaying the company’s logo in the style of the glowing aura of Apple’s Siri interface.

Apple announced its newest operating system, iOS 18, and Apple Intelligence, at its developer conference in June, where the company said the intelligent system will help Siri understand more natural speech patterns, use personal context from on-device content, and accept typed prompts, among other AI-powered capabilities.

The iPhone maker has also announced a partnership with Microsoft-backed (MSFT) OpenAI to integrate ChatGPT into iOS 18 later this year. Apple Intelligence is expected to roll out after the initial iOS 18 launch, but the company could demo some of the AI features to come at the event, showing investors how the iPhone maker is integrating the technology.

Next-Generation iPhone Upgrades

Apple is expected to release four models of the next-generation iPhone—the iPhone 16, the iPhone 16 Plus, the iPhone 16 Pro, and the iPhone 16 Pro Max. The new models, particularly the Pro models are expected to have significant upgrades to the device hardware including battery life and displays, as well as other features, Bernstein analysts indicated.

Improvements to battery life could be especially appealing to users as AI features require increased computing power. Morgan Stanley analysts said they “believe a strong battery upgrade can help to drive old device refreshes given battery life is one of the key reasons users historically upgrade an iPhone.”

The base iPhone 16 models are expected to have similar designs and display sizes to the iPhone 15, while the Pro models are expected to be larger than their predecessors at 6.3 and 6.9 inches for the 16 Pro and 16 Pro Max, respectively, marking the first size upgrade in several years.

The new iPhones are expected to run on the A18 chip, the next generation of Apple’s silicon chips, which will likely be designed to handle Apple Intelligence workloads.

The new device’s camera will also likely be in focus with CFRA analysts expecting an ultra-wide 48-megapixel camera and potentially a shutter button for capturing photos.

New iPhone Models’ Pricing To Mirror That of Predecessors

The iPhone 16 models are expected to be priced like their iPhone 15 counterparts when they were launched, but analysts noted that AI capabilities could be a “wildcard” in pricing.

Analysts expect the iPhone 16 base model to start at $799 while the lowest storage option of the iPhone 16 Max could cost around $1,199, the same range as the iPhone 15 when it was released around the same time last year.

Morgan Stanley analysts said that while they don’t expect Apple to raise iPhone prices from their levels last year, the possibility of a price increase still exists, though they view potential price hikes as “a net negative for Apple given it would likely drive some upgraders to extend the useful life of their iPhone for another year.”

Possible Next-Gen AirPods and Apple Watches

The iPhone maker could also unveil new additions to its wearable portfolio, with analysts expecting Apple to introduce upgraded versions of the AirPod Pro and AirPod Max with USB-C charging ports.

The company is also expected to overhaul its watch offerings with a new Apple Watch Series 10, an Apple Watch Ultra 3, and a third-gen Apple Watch SE. The new models are likely to feature bigger and thinner displays.

Apple shares have gained close to 15% since the start of the year, at $220.85 as of Wednesday’s close.

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Key Takeaways

• Lyft said Wednesday that it is planning to restructure its bike and scooter rental program, which could lead to a reduction of about 1% to the company’s total headcount.
• The ridesharing company said the changes will result in a charge of about $34 million to $46 million, primarily for the third quarter.
• These changes could boost the company’s financials by roughly $20 million in 2025.
• Last month, Lyft reported a profitable quarter for the first time in its history as a public company.

Lyft (LYFT) will cut some jobs and restructure its bike and scooter rental service as part of a broader effort to “align strategic priorities and to reduce operating costs” after reporting its first-ever profitable quarter last month.

The restructuring will result in an estimated charge between $34 million to $46 million, which the company expects to be represented mostly in its third quarter earnings report later this year.

The company said it also plans to cut about 1% of its jobs in relation to the changes to its scooter and bike program. That roughly translates to 30 employees out of Lyft’s reported 2,945 headcount at the end of fiscal 2023.

Restructuring Comes After First Profitable Quarter

Last month, the company reported a profit for the second quarter, its first time doing so as a public company. While it was just a $5 million profit on $1.44 billion in revenue, the quarter marks a positive step for Lyft as it also said it remains “on track to generate positive free cash flow for the full year.”

In the long term, Lyft said Wednesday the restructuring plan should provide a boost of roughly $20 million by the end of 2025 to its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) because of the job cuts and other “operational efficiencies”.

Lyft shares were up 1.9% to $11.57, but have lost roughly 22% since the start of the year.

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Shares Fell 15% in Extended Trading Tuesday

Key Takeaways

• Shares in Zscaler plunged in extended trading Tuesday after the provider of cloud-based cybersecurity services issued earnings guidance that came in significantly below analysts’ expectations.
• Two rallies in the stock up to the 200-day MA in July and August have been met with considerable resistance, indicating underlying selling pressure.
• Amid earnings-driven weakness, investors should monitor key chart levels at $164, $143, and $135.

Shares in Zscaler (ZS) plunged in extended trading Tuesday after the provider of cloud-based cybersecurity services issued current quarter and full-year earnings guidance that came in significantly below Wall Street expectations, as enterprise customers manage technology budgets and spending more carefully against a backdrop of economic uncertainty.

Below, we use technical analysis to navigate the Zscaler chart and identify key price levels investors should watch out for amid the stock’s projected earnings-driven drop. 

200-Day Moving Average Providing Resistance

Since the 50-day moving average (MA) crossed below the 200-day MA in early May to form an ominous death cross, Zscaler shares have traded mostly sideways.

More recently, two rallies up to the 200-day MA in July and August have been met with considerable resistance, indicating underlying selling pressure in the stock.

The stock fell 15.1% to $164.10 in after-hours trading on Tuesday, after falling 3.4% during regular trading amid a broad market selloff.

Key Levels to Watch Amid Post-Earnings Selling

Amid price weakness, investors should keep an eye out for three chart levels where Zscaler shares may attract buying interest.

The first level to watch sits at $164, a location where the shares will likely encounter support near a trendline that connects three prominent swing highs that formed between June and September last year with trading activity situated around this year’s May and August troughs.

Further selling could see the shares fall to the $143 level, where investors may seek entry points near the February 2023 peak and a range of comparable price action from June to August last year.

Finally, a steeper downturn may lead to the shares revisiting lower support around $135. This area on the chart could attract buying interest near a horizontal line that links a range of similar trading levels between October 2022 and August last year.

Interestingly, this area also roughly aligns with a bars pattern price target that extracts the stock’s sharp down-trending move from February to April and positions it from last month’s high. It’s worth pointing out that a 14% drop occurred near the start of that prior decline, similar in magnitude to Wednesday’s expected earnings-fueled drop.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.

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Key Takeaways

• Investors late Tuesday digested reports that the chip giant had received subpoenas from the Justice Department as part of an antitrust investigation.
• Nvidia stock slipped nearly 2% after hours, extending the 9.5% plunge recorded at the market’s close.
• The company is scheduled to appear at an investor event on Sept. 11.

Shares of Nvidia slipped in late trading, extending losses from the regular session, as investors digested reports that the chip giant had received subpoenas from the Justice Department as part of an antitrust investigation.

Bloomberg, citing people familiar with the investigation, reported Tuesday afternoon that the government “sent subpoenas to Nvidia Corp. and other companies as it seeks evidence that the chipmaker violated antitrust laws, an escalation of its investigation into the dominant provider of AI processors.”

Shares of Nvidia (NVDA) were down nearly 2% after the news. They were down more than 9% in Tuesday’s regular session as investors sold tech stocks broadly.

Despite the day’s downturn, Nvidia’s shares have more than doubled so far this year. Last week, the company reported its latest quarterly financial results, which showed the AI giant’s run of powerful growth continuing even as some investors raised questions about growth sustainability.

“Nvidia wins on merit, as reflected in our benchmark results and value to customers, who can choose whatever solution is best for them,” said a Nvidia company spokesperson via email about the Bloomberg report. The Justice Department declined to comment.

The company is scheduled to appear at an investor event on Sept. 11.

UPDATE: This story has been updated to reflect new share-price information and to incorporate the response from the DOJ.

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Key Takeaways

• Volkswagen said Monday that the automotive giant is considering several cost-cutting options, including potentially closing at least one plant in its home country of Germany.
• CEO Oliver Blume said the company must “act decisively” as competition from other international carmakers has increased, making Europe’s market “even tougher.”
• The company said its Performance Program launched last year is no longer enough to meet the “enormous challenges” it faces.

German automotive giant Volkswagen (VWAGY) is considering significant cost-cutting measures to restructure amid an “extremely tense” economic situation as it faces increasing international competition and pressure on profits as it transitions to producing more electric vehicles.

Volkswagen Group CEO Oliver Blume said in a statement that the company is facing a “very demanding and serious situation” in Europe’s automotive market, meaning the company must “act decisively” to remain competitive.

The company said the Performance Program it launched last year, with a stated goal of creating 10 billion euros ($11 billion) in savings by 2026, is no longer enough to meet the “enormous challenges” it faces.

Global Competition, EV Shift Create ‘Extremely Tense’ Situation

The company behind a number of car brands from its namesake Volkswagen to luxury names like Audi, Lamborghini, and Porsche is considering ending a decades-old job security pact with German employees as it works to resolve an “extremely tense” economic situation.

“The goal must be to optimise product costs, material costs, and sales performance, as well as factory and labour costs,” the company said. “In the current situation, even plant closures at vehicle production and component sites can no longer be ruled out without swift countermeasures. The situation is extremely tense and cannot be resolved through simple cost-cutting measures.”

Unions and trade groups have spoken out against the statement, with the union representing the company’s German workers saying it would be prepared to fight any job cuts, the New York Times reported.

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Key Takeaways

• Intel shares remain in focus this week after Reuters reported on Sunday that CEO Pat Gelsinger and other senior executives are expected to present plans later this month that involve shedding assets and reducing capital expenditures, as part of an effort to turn the company’s fortunes around. 
• Since gapping down more than 26% in early August following the company’s quarterly results, Intel shares have carved out two troughs, raising the possibility of a double bottom, a chart pattern that typically marks a trend reversal back to the upside.
• Investors should watch key overhead chart levels in Intel shares at $25, $30, $32.25, and $37.

Intel (INTC) shares remain in focus this week after Reuters reported on Sunday that CEO Pat Gelsinger and other senior executives are expected to present plans later this month that involve shedding assets and reducing capital expenditures in an effort to turn the company’s fortunes around.

On Friday the stock surged more than 9% after Bloomberg reported that the chipmaker is considering spinning off or selling its foundry business, a loss-making division that makes chips for third party customers. However, sources told Reuters that the company does not yet have plans to sell its contract manufacturing operation, but was considering divesting its Altera programmable chip unit.

Even after Friday’s jump, Intel shares have tumbled more than 56% since the start of the year, with falls accelerating last month after the chipmaker’s disappointing second-quarter earnings report. The company also announced a pause to its dividend payment and a 15% workforce reduction aimed at saving $10 billion.

Below, we’ll take a closer look at Intel chart and use technical analysis to point out important price levels to watch.

Double Bottom Pattern in Play

Since gapping down more than 26% in early August following the company’s quarterly results, Intel shares have carved out two troughs, raising the possibility of a double bottom, a chart formation that typically marks a trend reversal back to the upside.

Although the chipmaker’s stock closed above the pattern’s neckline on Friday on above-average trading volume, investors should watch for a more decisive breakout this week for added confirmation of a valid signal.

Watch These Key Overhead Intel Chart Levels

Amid further bullish price action in the stock, market participants should monitor four specific overhead chart levels likely to attract interest.

The first sits around $25, a region where investors who bought near recent lows may look to lock in profits near two prominent troughs that formed in October 2022 and February 2023.

Further upside could see a move up to $30, a location that may encounter resistance from a horizontal line linking multiple peaks and troughs in the stock between November 2022 and July this year.

A successful close above this level could see the shares climb to the $32.25 area, where they may run into selling pressure near a trendline joining the August and October 2023 swing lows with more recent trading levels from May to July this year.

Ongoing buying may see the stock rally to $37. This area currently finds a confluence of resistance from downward sloping 200-day moving average (MA) and multiple price peaks that formed on the chart between June 2023 and July 2024.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.

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Key Takeaways

• Legendary value investor and CEO of Berkshire Hathaway Warren Buffett turned 94 on Friday. 
• Buffett’s Berkshire Hathaway hit a market capitalization of $1 trillion earlier this week, making it the first U.S. company outside of the tech sector to hit that milestone.
• Buffett’s investment philosophy is based on the principle of acquiring stock in what he believes are well-managed, undervalued companies.

Warren Buffett, the legendary value investor known as the “Oracle of Omaha” and longtime CEO of Berkshire Hathaway (BRK.A, BRK.B), turned 94 on Friday. 

Berkshire Hathaway hit a market capitalization of $1 trillion earlier this week, making it the first U.S. company outside of the tech sector to hit that milestone, and Buffett played a key role in making Berkshire the financial giant it is today.

Here are some of the investing rules Warren Buffett is most famous for.

‘Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.’

One of Buffett’s most famous sayings is “Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.”

Buffett hasn’t always followed his own advice in this regard, notably losing about $25 billion in the 2008 financial crisis—though he’s known for taking a risk-averse approach, and only investing in companies that he thoroughly researches and understands.

‘Our Favorite Holding Period Is Forever’

Also known for his long-term approach to investing, Buffett’s investment philosophy is based on the principle of acquiring shares of what he believes are well-managed, undervalued companies—and holding them for an extended time.

Buffett has famously said that you shouldn’t own a stock for 10 minutes if you don’t feel comfortable owning it for 10 years. Some of Berkshire’s largest holdings are ones the firm has maintained a stake in for several decades.

Recent Changes to Berkshire Hathaway’s Portfolio

Some of Berkshire’s recent changes to its portfolio in the second quarter included adding stakes in beauty products retailer Ulta Beauty (ULTA) and aerospace and electronics manufacturing company Heico Corp. (HEI).

Meanwhile, Berkshire has significantly trimmed its position in Apple (AAPL), though the tech giant still represents Berkshire’s largest holding.

Berkshire also reduced its holdings in Bank of America (BAC) in July after the bank’s shares surged following an earnings beat.

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Key Takeaways

• Major U.S. stock indexes are on track to finish August little-changed after rebounding from their most dramatic sell-off in years at the beginning of the month.
• As market participants prepared for interest rate cuts by the Federal Reserve, investors flocked to rate-sensitive stocks and dividend payers.
• Wall Street is likely to get its long-awaited rate cuts next month, though the depth of those cuts will depend on incoming labor market and inflation data.

U.S. stocks were mixed on Friday in the final stretch of one of the most volatile stretches of trading in years.

The Dow Jones Industrial Average and S&P 500, despite giving up early gains on Friday, were both on track to finish the month up slightly. The Nasdaq Composite was poised to close little changed.

Though the values of the three indexes effectively haven’t changed in August, it was a bumpy ride to the end of the month and, under the hood, a lot has changed.

A Bumpy Month for Stocks

August got off to a shaky start, to say the least. The major indexes tumbled as soft manufacturing and jobs data raised concerns that the Federal Reserve had waited too long to start cutting rates and risked nudging the economy into recession. At the same time, a surprise rate hike from the Bank of Japan sparked the rapid unwinding of the yen carry trade, adding fuel to the U.S. equities sell-off. The Cboe Volatility Index (VIX) spiked to a 4-year high, and the S&P 500 shed more than 6% of its value, or nearly $3 trillion, in the month’s first three trading days alone.

Then, seemingly in the blink of an eye, the tide turned and stocks had their best week of the year as labor market concerns subsided and Wall Street mulled earnings reports, which showed corporate profits grew in the second quarter at their fastest rate since 2021.

But August’s rally looked very different than what came before it. The Magnificent Seven, which led the market for most of the last year and a half, have failed to fully recover from their longest slump in years. Meanwhile, Consumer Staples, Real Estate, and Healthcare were, in that order, the S&P 500’s best-performing sectors in August as investors, anticipating interest rate cuts, flocked to rate-sensitive stocks and dividend payers. 

What’s Next For Stocks in September?

September is historically a difficult month for stocks. Though past performance is no guarantee of future returns, and there are plenty of events coming up that could give stocks a boost. 

Apple (AAPL) is expected to unveil the iPhone 16, equipped with its newest operating system capable of running generative AI, on September 9. And Wall Street is nearly guaranteed to get its long-awaited interest rate cuts when the Federal Reserve concludes its next policy meeting on September 18. 

The question on everyone’s mind heading into that meeting will be how aggressively the Fed cuts interest rates. Fed funds futures trading data put the odds of a half percentage point cut at 30.5% on Friday morning, up significantly from about 13% a month ago. Though, Wall Street thinks the most likely outcome is a smaller quarter point cut.

Along the way, Wall Street will parse August inflation data, due September 11, and the August jobs report on the 6th. Both will figure into the Fed’s deliberations as it seeks to maintain progress on inflation without suffocating the labor market.

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Shares Jumped More Than 13% in Extended Trading Thursday

Key Takeaways

• Shares in MongoDB soared more than 13% in extended trading Thursday after the company reported better-than-expected earnings and boosted its full-year outlook amid robust demand for generative AI software.
• The stock sits positioned to confirm a double bottom, with the shares projected to open above the pattern’s neckline on Friday morning.
• Amid post-earnings upside in MongoDB shares, investors should watch key chart levels at $294, $323, and $370.
• During pullbacks, investors should monitor the $265 area, which will likely attract buying interest near the double bottom’s neckline.

Shares in MongoDB (MDB) soared in extended trading Thursday after the company reported better-than-expected earnings and boosted its full-year guidance amid robust demand for generative artificial intelligence (AI) software.

The company’s shares have slumped more than 33% since the start of the year through Thursday’s close after an uncertain macro environment and slower uptake of its flagship Atlas multi-cloud database-as-a-service offering prompted it to cut its outlook in May.

MondoDB shares gained 13.5% to $279.00 in after-hours trading Thursday.

Below, we’ll take a closer look at the MongoDB chart and use technical analysis to locate important price levels worth watching out for.

Double Bottom Confirmation

Since gapping sharply lower in late May, MongoDB shares have carved out two distinct swing lows at around the same level, setting the groundwork for a double bottom, a classic chart pattern that typically forms following a steep decline in prices and indicates a potential market bottom. Moreover, while the second swing low made a slightly lower low, the relative strength index (RSI) indicator made a comparatively higher low to create a bullish divergence, a chart signal pointing to waning selling momentum. 

Indeed, the stock sits positioned to confirm the patten, with the shares projected to open above the formation’s neckline on Friday morning after the company’s better-than-expected results.

Monitor These Key MongoDB Chart Levels

Amid further post-earnings momentum, investors should monitor three key overhead price levels of interest.

Firstly, it’s worth keeping an eye on the $294 area, a location on the chart where market participants who purchased the stock near recent lows may look to lock in profits near the June 1, 2023 close, the day before an earnings-driven breakaway gap.

A move above this level could see the shares climb to around $323. Where they would likely run into overhead resistance near a horizontal line joining three prominent troughs that formed between September 2023 and April 2024.

Ongoing bullish price action may drive a rally to the $370 region. This is an area on the chart were investors could place sell orders near a multi-month trendline that links multiple peaks and troughs in the stock from June 2023 to May this year.

Neckline Becomes New Support Area

During pullbacks, investors should watch the $265 level, an area where MongoDB shares would likely attract buying interest near the double bottom’s neckline, which also marks Friday’s projected breakout point.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.

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Key Takeaways

• Dollar General’s CEO said that its three softest weeks for second-quarter comparable-store sales were the last weeks of each month. 
• That, he said, suggests trouble stretching budgets to last the month.
• Meanwhile, he said, most of the retailer’s customers say they’re worse off financially than they were half a year ago.

Dollar General (DG) noticed a spending trend in its latest quarter. It doesn’t spell financial health for some U.S. consumers. 

The discount retailer reported second-quarter results Thursday, logging only slim gains in same-store sales for the quarter and scaling back its outlook for them over the balance of the year. CEO Todd Vasos said on a Thursday conference call with analysts that its three softest weeks for second-quarter comparable-store sales were the last weeks of each month. 

“This pattern suggests that our customers are less able to stretch their budgets through the end of the month,” said Vasos in the call, a transcript of which was made available by AlphaSense. “We believe the softer-than-anticipated sales performance in Q2 is at least partially attributable to a core customer that is less confident of their financial position.”

Core Customers Cutting Back on Necessities

Vasos also cited customer surveys: Most Dollar General customers, he said, say they’re worse off financially than they were half a year ago. 

And more than 60% of the company’s “core” customers — households earning less than $35,000 annually — said higher prices have led them to cut back on buying necessities. A quarter said they expect to miss a bill payment in the next six months. 

Plenty of consumer-facing companies have highlighted signs of stress in the consumer economy in recent weeks. In many cases, they’ve suggested that their customers are looking for ways to save without changing broader spending habits — in effect, attempting to stretch their dollars. Walmart (WMT) said it has attracted service-minded higher-income consumers. 

“While middle and higher income households are seeking value as well, they don’t claim to feel the same level of pressure as low income households,” Vasos said. 

 “Our core customer,” he said, is obviously struggling.” 

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