Apple has reached a $4 trillion market cap, but is no longer the top company – Nvidia holds that title now. Despite Apple’s stock price rising, it faces challenges and slower momentum compared to the Nasdaq. Analysts remain cautiously optimistic, with most rating Apple as “overweight.” Concerns exist over Apple’s revenue growth, which is expected to slow in the coming years. The company’s heavy reliance on the iPhone may hinder future growth. In contrast, Microsoft’s diverse portfolio allows for more growth opportunities. 1. President Biden signs $1.9 trillion stimulus package into law, providing direct payments of up to $1,400 to most Americans. The package also includes funding for COVID-19 vaccine distribution, unemployment benefits, and small business assistance.
2. Johnson & Johnson’s single-dose COVID-19 vaccine receives emergency use authorization from the FDA. The vaccine has shown to be 85% effective in preventing severe illness and 100% effective in preventing hospitalizations and deaths.
3. SpaceX successfully launches 60 Starlink satellites into orbit, expanding its internet coverage to more remote areas around the world. The company now has over 1,000 satellites in its constellation.
4. Retail sales in the US rose by 5.3% in January, exceeding economists’ expectations despite the ongoing pandemic. This increase was driven by higher consumer spending on electronics, clothing, and furniture.
5. The European Union announces plans to introduce digital vaccine passports to facilitate travel within the region. The passports will contain information on an individual’s COVID-19 vaccination status and test results.
Read more at 1. Tesla announces record-breaking quarterly profits, surpassing analysts’ expectations. The electric car company reported earnings of $1.45 per share, compared to the estimated $0.98 per share. Revenue also exceeded forecasts, totaling $11.96 billion for the quarter. – CNBC
2. Apple unveils new iPhone 13 models with improved cameras, longer battery life, and a faster A15 chip. The tech giant also introduced the Apple Watch Series 7 with a larger display and new features. Pre-orders for the new devices will begin on Friday, with shipments expected to start next week. – Reuters
3. Amazon plans to hire 125,000 employees in the United States, offering starting wages of $18 per hour. The e-commerce giant aims to fill positions in fulfillment and transportation roles, as well as corporate and technology jobs. The hiring spree comes as Amazon continues to expand its operations across the country. – Wall Street Journal: Is the Tech Giant Still a Buy After Slowing Growth?