Abbvie Inc
Change company Symbol lookup
Select an option...
ABBV Abbvie Inc
DD Dupont De Nemours Inc
NRXPW NRX Pharmaceuticals Equity Warrant Exp 24 May 2026 *W EXP 05/24/2026
SAH Sonic Automotive Inc
PCRX Pacira Biosciences Inc
ONFO Onfolio Holdings Inc
LSPRU Larkspur Health Acquisition Corp
BKKT Bakkt Holdings Inc
PDI PIMCO Dynamic Income Fund
RNR Renaissancere Holdings Ltd

Health Care : Biotechnology | Large Cap Value
Company profile

AbbVie Inc. is a research-based biopharmaceutical company, which is engaged in research and development, manufacturing, commercialization and sale of medicines and therapies. It offers products in various therapeutic categories, including immunology products, which include Humira, Skyrizi and Rinvoq; oncology products, which include Imbruvica and Venclexta; aesthetics products that include Botox Cosmetic, Juvederm Collection and others; neuroscience products, such as Botox Therapeutic, Vraylar, Duopa and Duodopa, and Ubrelvy; eye care products consists of Lumigan, Alphagan and Restasis; women's health products include Lo Loestrin, Orilissa and others; and other products, which includes Mavyret, Creon, Lupron, Linzess and Synthroid. Its products are sold to wholesalers, government agencies, health care facilities and independent retailers. It also discovers and develop antibody medicines that target difficult-to-drug disease-causing proteins, such as G protein-coupled receptors (GPCRs).

Closing Price
Day's Change
-1.19 (-0.75%)
B/A Size
Day's High
Day's Low

10-day average volume:

Apple is the safest play in consumer hardware but isn't immune to this one 'growing risk'

9:07 am ET June 16, 2022 (MarketWatch)

By Emily Bary

Morgan Stanley recently outlined risks of moderating spending among high-end consumers

Apple Inc. faces risks from an expected slowdown in tech spending, but it's still the safest play among consumer-hardware names, according to Morgan Stanley.

"While low- and mid-range consumer spending data points have been deteriorating for months," Morgan Stanley analyst Erik Woodring noted that high-end spending has been more resilient. That could change, however, as he wrote that "the risks of a pullback at even the high-end consumer are rising," given decades-high inflation levels and weakening consumer confidence.

The possibility of slowing tech spending among more affluent customers is "a growing risk to consumer hardware companies," according to Woodring, given that the wealthiest quintile in the U.S. accounts for perhaps more than 40% of spending on consumer hardware products.

"When we layer in the above-trendline spending patterns in consumer electronics over the last two years, and the discretionary nature of most consumer electronics purchases, a slowdown in high-end spending is likely to have a significant impact on consumer electronics demand," he wrote.

Apple (AAPL) is now Morgan Stanley's only overweight-rated consumer hardware stock, after his recent analysis prompted a downgrade of Sonos Inc.'s shares (SONO) to equal weight from overweight. On Sonos, Woodring and his team like the company's "strong product portfolio and differentiated growth flywheel" but also worry about the prospect of a general spending slowdown, which could make multiple expansion or positive estimate revisions less likely.

As for Apple, Woodring still expects that estimates need to fall to better acknowledge the changing spending landscape, but he sees the smartphone giant as best positioned to outperform in the consumer-hardware sector.

"Broadly speaking, we are OW [overweight] consumer hardware companies with sticky/loyal customer bases, less 'discretionary' products, and [that] have the ability to invest through cycles," he wrote.

Apple has been more insulated from economic downturns in the past, he continued, though "it would be shortsighted to believe Apple is completely immune to a weaker consumer" given that Apple's year-over-year revenue growth is highly correlated to "changes in U.S. consumer net worth, particularly the top two quintiles."

Shares of Apple are up 1.3% in Wednesday trading. They've dropped 13.3% over the past three months as the Dow Jones Industrial Average has declined 9.0%.

-Emily Bary


(END) Dow Jones Newswires

June 16, 2022 09:07 ET (13:07 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.