Apple Eyes $4 Trillion Valuation

And, Bitcoin's post-Christmas slump.

December 27, 2024

Today is Friday, December 27, 2024.

The Early Bird Index today is 82.81

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Apple Eyes $4 Trillion Valuation

Shares of technology giant Apple (Nasdaq: AAPL) reached an all-time high at one point on Thursday and inched closer to becoming the first company with a $4 trillion valuation.

Details: The recent upswing shows that investors are still favoring the stock. On Thursday, Wedbush analyst Dan Ives said that 2025 will mark “a golden era of growth” at Apple.

Stock Price: Apple, up 39.53% this year, has surged 10% in the last 30 days.

Big Picture: The stock is closing 2024 on a strong note, despite serious questions about slumping iPhone sales and global competition.

Early Bird’s Nest Egg Gains: The bull and bear cases for Apple in 2025 present contrasting views on the company's prospects.

  • Investors bullish on Apple point to its strong growth potential, new artificial intelligence offerings, expanding revenue for the services business, and market leadership.

  • More cautious investors worry about Apple’s high valuation, market saturation, growth slowdown, rising competition, and product commoditization risk.

Final Thoughts: Apple will likely report financial earnings results by early February.

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Notables

Notable Earnings Today: N/A.

Notable IPOs Today: Park Ha Biological Technology Co., Ltd. Ordinary Shares (Nasdaq: PHH), Park Ha Biological Technology Co., Ltd. Ordinary Shares (Nasdaq: NTWO).

Notable Equity Crowdfunding Campaigns Ending Today: East Denver Food Hub (Honeycomb). 

Notable Economic Events Today: Goods Trade Balance (8:30 a.m. ET), Retail Inventories Excluding Auto (8:30 a.m. ET), S&P CoreLogic Case-Shiller 20-City Composite Home Price NSA Index (8:30 a.m. ET).

Bitcoin's Post-Christmas Slump

After Bitcoin pulled closer to the $100,000 mark on Christmas, its price dropped about 4% on Thursday.

Powering the Story: One report said that a glitch on the trading platform TradingView, showing a 0% market cap for Bitcoin, drove investor fears.

Also: A report from CoinDesk suggests that declining interest rates might have become a headwind for Bitcoin.

Background: Bitcoin benefited from many events in 2024, including the launch of the first spot Bitcoin ETFs and the U.S. presidential election.

Final Thoughts: Bitcoin is still up about 116% this year, but the price has remained flat in the last 30 days.

Martin Midstream Partners Ends Merger Agreement

Martin Midstream Partners (Nasdaq: MMLP) fell 1.75% in after-hours trading on Thursday after terminating its previously announced merger agreement with Martin Resource Management Corporation.

Final Thoughts: This might be a small setback for the company. Shares of the natural gas distribution provider are up 63% this year.

Questionable Labor Market: It’s Taking Longer for Unemployed Americans to Find a Job (Bloomberg)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.