Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
Apple Inc. (AAPL) unveiled two new iPhones, including a cheaper $99 version in bright colors and an updated high-end device, in a strategy shift by Chief Executive Officer Tim Cook to reach a broader range of customers around the world.
AIMING AT BROADER MARKET?
The product introductions underline how Apple, which was a trailblazer when it debuted the iPhone in 2007, is increasingly following the strategy of other smartphone makers that offer handsets in different colors and prices. Until now, Apple only released one new iPhone model every year. As competing devices running Google Inc.’s Android software gain in popularity in the $280 billion smartphone market, Apple is expanding its iPhone lineup to reach more customers.
Well, if you think the announcement could help Apple's stock rebound, think again....apparently, according to analysts, there is lack of excitement and surprises of the announcement, given that most of the information has already been leaked to the internet, a couple of months back.
Apple was also not as aggressive on price as some investors had hoped. “Many investors were hoping for that one single atomic event where they got aggressive on pricing,” said Gene Munster, an analyst at Piper Jaffray Cos. “Instead, in Apple’s own way they think they can accomplish their goal -- gaining market share -- without blowing up their margins.”
Nonetheless, offering iPhones at lower prices also poses risks. With a lower-priced iPhone, Apple is “walking a tightrope between growth and profitability,” said Sarah Rotman Epps, an analyst at Forrester Research.
The company’s shares down 2.4 percent to $493.74 as of 3:36 p.m. in New York.
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