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Information Technology : Technology Hardware, Storage & Peripherals | Large Cap Growth
Company profile

Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. The Company’s products include iPhone, Mac, iPad, and Wearables, Home and Accessories. iPhone is the Company’s line of smartphones based on its iOS operating system. Mac is the Company’s line of personal computers based on its macOS operating system. iPad is the Company’s line of multi-purpose tablets based on its iPadOS operating system. Wearables, Home and Accessories includes AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch and other Apple-branded and third-party accessories. AirPods are the Company’s wireless headphones that interact with Siri. Apple Watch is the Company’s line of smart watches. Its services include Advertising, AppleCare, Cloud Services, Digital Content and Payment Services. Its customers are primarily in the consumer, small and mid-sized business, education, enterprise and government markets.

Price
Delayed
$152.41
Day's Change
3.56 (2.39%)
Bid
--
Ask
--
B/A Size
--
Day's High
153.17
Day's Low
149.72
Volume
(Above Average)

Today's volume of 68,891,467 shares is on pace to be greater than AAPL's 10-day average volume of 64,624,760 shares.

68,891,467

Alibaba stock heads for lowest close since October 2019 amid pressure on China's tech sector

2:07 pm ET August 17, 2021 (MarketWatch)
Print

By Emily Bary

China is reportedly planning a new privacy law that will impact the collection of user data

U.S.-listed shares of Chinese internet stocks fell Tuesday after reports indicated that the Chinese government was planning to pass a new privacy law that would impact how companies collect user data.

Shares of Alibaba (9988.HK) were down 4.7% in Tuesday trading and on track for their lowest close since Oct. 24, 2019. If the losses hold through the close, it would mark the first time that Alibaba shares closed below their pandemic low of $176.34 from March 23, 2020, according to Dow Jones Market Data.

Other Chinese tech names were falling as well, including Qutoutiao Inc. (QTT), off 5.9%; JD.com Inc. (JD), off 3.3%; Baidu Inc. (K3SD.SG), down 3.2%; iQiyi Inc. (IQ), down 2.8%; and Bilibili Inc. (BILI), off 2.6%. Shares of Tencent Music Entertainment Group (TME), which reported earnings Tuesday (https://www.marketwatch.com/articles/tencent-music-beat-profit-expectations-but-the-stock-is-tumbling-51629217567?mod=mw_quote_news), were down 12.1%.

The KraneShares CSI China Internet ETF (KWEB) was off 2.7%.

Shares of Chinese tech companies have come under pressure in recent weeks amid concerns about increased regulation of private businesses, and reports of the coming Chinese privacy law added to that unease. The law is expected to place limits on data collection and require that entities obtain consent before gathering user information, according to The Wall Street Journal (https://www.wsj.com/articles/china-set-to-pass-one-of-the-worlds-strictest-data-privacy-laws-11629201927).

Alibaba is familiar with China's regulatory arm, having paid a $2.8 billion antimonopoly fine (https://www.marketwatch.com/story/alibaba-hit-with-record-2-8-billion-antitrust-fine-in-china-11618068108?mod=article_inline) earlier this year due to its actions toward merchants that were looking to sell on other platforms as well. Alibaba also has a stake in Ant Group Co., a fintech company that had to shelve its recent plans for an initial public offering following government pushback (https://www.marketwatch.com/story/ant-group-to-fall-under-chinese-government-oversight-as-alibabas-jack-ma-yields-to-regulators-11618229440?mod=article_inline).

China recently cracked down on the education sector (https://www.marketwatch.com/story/china-based-education-stocks-rocked-on-worries-over-new-prc-regulations-11627046578?mod=article_inline) with new restrictions on after-school tutoring businesses. It also clamped down (https://www.marketwatch.com/story/didi-debacle-riles-lawmakers-who-seek-to-block-u-s-investors-from-trading-chinese-stocks-11625683303?mod=mw_quote_news&mod=article_inline&mod=article_inline) on ride-hailing business Didi Global Inc. (DIDI)

The KraneShares CSI China Internet ETF has fallen 41% so far this year as the S&P 500 has risen 18%.

-Emily Bary

	

(END) Dow Jones Newswires

August 17, 2021 14:07 ET (18:07 GMT)

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