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Are Apple's glory days behind it? That's probably a stretch. But Wall Street clearly is getting more worried about the company's reliance on the iPhone to generate sales and profit at a time when demand for the newer phones appears to be subpar.Shares of Apple (AAPL) fell 3% Wednesday and that was one of the big reasons why the Dow, which includes Apple, fell 300 points. Apple's stock briefly dipped into bear market territory, meaning it was down more than 20% from its all-time high.The reason for the Apple slide? Several companies that produce chips and other components used in iPhones have all issued gloomy forecasts recently, citing sluggish demand for higher-end smartphones.Although none of these companies, which include Qorvo (QRVO), Lumentum (LITE), Japan Display and IQE, have named Apple as the source of their woes, they are all Apple suppliers.But it may not be time to throw in the towel on Apple just yet, even though some analysts are cutting their price targets and earnings estimates due to concerns about soft sales for the newer iPhone XR, iPhone XS and iPhone XS Max.Apple's stock is still up more than 10% this year, making it one of the better performers in the Dow. The company is still worth nearly 0 billion. It remains the most valuable company in the world.Apple also continues to pay a solid dividend that yields 1.5% -- and the company is likely to keep raising its dividend thanks to its cash stockpile of 7.1 billion.What's more, Apple's earnings are expected to increase by more than 13% this fiscal year and keep growing at about a 12% clip annually, on average, for the next few years.So predictions of an Apple iPocalypse, if you will, may be premature. But it does seem like the company needs a new product to get consumers and investors excited again.Perhaps Apple needs to take a cue from the movie "This Is Spinal Tap" and release a new iPhone that goes to eleven. But would it be the iPhone 11 or iPhone XI? 1969
An airline employee who stole a passenger plane Friday from the Seattle-Tacoma International Airport has been identified as Richard Russell, authorities said.Russell flew the plane for an hour with military jets chasing him, pulling off aerobatic stunts before crashing in a wooded island 25 miles away.This story is developing. 336
Amy Andrle and her husband grow and sell recreational marijuana at their Denver dispensary L'Eagle."We're a true mom-and-pop shop,” Andrle says. “We have everything riding on this."This year, Colorado marijuana sales already passed billion. But it’s a valuable industry that comes with a lot of rules. "On any given day, you could be subject to people stopping in to see how you're conducting your business," the owner says.State and local governments keep a close eye on the industry. As it evolves, the regulations constantly change. With marijuana on ballots again in the upcoming election, Andrle hopes the "green rush" that hit Colorado continues to spread. “I think there's going to be an anti-federal prohibition at some point,” Andrle says. “I think consumers deserve that. They all should have a right to the same medicine if you look at it from a strict medicinal standpoint there are so many benefits that come to it. Why shouldn't every state have that?"Michigan and North Dakota are voting whether or not to legalize it in the upcoming election. Recreational use is already legal in nine states, as well as in Washington D.C. 1169
Andrew Giuliani, the son of President Donald Trump’s personal attorney Rudy Giuliani, and a White House official himself, has tested positive for COVID-19, he tweeted Friday.“This morning, I tested positive for COVID-19. I am experiencing mild symptoms, and am following all appropriate protocols, including being in quarantine and conducting contact tracing,” the tweet from the younger Giuliani’s official account reads. 430
ANNAPOLIS, Md. – The U.S. Naval Academy has named its first ever African American female brigade commander – Midshipman 1st Class Sydney Barber.The brigade commander is the highest leadership position within the student body and it’s held for a semester. Barber will hold the role this spring semester.Barber will be the 16th woman selected for brigade commander in the 44 years women have been attending the Naval Academy. The first female brigade commander was in the class of 1992.“Earning the title of brigade commander speaks volumes, but the title itself is not nearly as significant as the opportunity it brings to lead a team in doing something I believe will be truly special,” said Barber. “I am humbled to play a small role in this momentous season of American history.”Barber is from Lake Forest, Illinois, and is majoring in a mechanical engineering, with aspirations of commissioning as a Marine Corps ground officer.As a walk-on sprinter and hurdler of the Navy Women’s Varsity Track and Field team, Barber has lettered all three years of competing and is a USNA record holder for the outdoor 4x400m relay.Word of the announcement spread quickly after a social media post by the first Black female to graduate from USNA, Janie Mines. She wrote, “This brought me to tears. This young woman, Midshipman Sydney Barber, will be the first Black Female Brigade Commander at the U.S. Naval Academy. 40 years later. Thank you, Sydney! Love you!” 1460