On Tuesday, Apple Inc (AAPL) rose by 5.01 percent to $127.88. The stock surged as the Cupertino, California-based technology giant, which capitalizes on Wall Street for more than $2,100 billion, expects to manufacture up to 96 million iPhones in the first half of 2021, a rise of almost 30 percent year-on-year. Consequently, the iPhone maker will benefit from demand fuelled primarily by 5G models. The group’s suppliers would have been asked to manufacture 95 to 96 million iPhones, including those in the category of iPhone 12 as well as the iPhone 11 and SE. Nonetheless, industrial supply difficulties could threaten this ambitious production goal for some key components.
Alphabet Inc (GOOGL) was also up by 0.50% to $1761.08 on the day. A company spokesperson told the Wall Street Journal that the Google outage the previous day was due to a concern about internal servers. This wouldn’t have been a cyberattack. Alphabet’s websites, including YouTube, Gmail and Google Drive, were affected by the notorious outage, which created a stir, affecting thousands of users worldwide on Monday.
Eli Lilly and Company (LLY) jumped 6.03% to $167.43 while Prevail Therapeutics Inc. (PRVL) went skyrocketed by 82 percent to $22.75. After raising its financial forecasts, the Indianapolis biotech firm is gaining ground. With the production of trulicity, the flagship treatments of Taltz and Verzenio, annual revenues are projected to hit $28 billion in 2021 ($26.5-28 billion for an EPS of $7.25-7.9). The company predicts revenues of $24.2-24.7 billion for 2020, as well as EPS in the range of $6.28 to $6.48 per share. Lilly also noted that the New York-based Prevail specialized in gene therapy therapies for Parkinson’s disease has been purchased for just over $1 billion or $22.5 per share (80 percent premium) – plus a potential $4 bonus under milestone conditions.
the Wall Street-listed Chinese search engine on the Nasdaq, was surged by 13.83
percent to $185.50 at close of the session on Tuesday. The tech giant reportedly
approached Chinese automakers to start manufacturing electric vehicles,
reported Reuters, citing three sources close to the matter.