Dow Jones News: Apple 5G Optimism Remains; Visa Cuts Outlook
In just the first hour of trading on Tuesday, the Dow Jones Industrial Average (DJINDICES: ^DJI) has swung wildly. The index opened lower, shot up when the Federal Reserve announced a rate cut, quickly lost those gains, then shot up again. At 10:25 a.m. EST today, the Dow was up 0.54%.
While the novel coronavirus outbreak is dominating the headlines, there was some company-specific news for Apple (NASDAQ: AAPL) and Visa (NYSE: V). Apple got a boost from an analyst still optimistic about its upcoming 5G iPhones, and Visa was forced to reduce its guidance with growth trends hurt by the coronavirus outbreak.
2020 was supposed to be a big year for Apple, with 5G-enabled iPhones expected to be launched in the fall. That launch is now in some jeopardy as the company's supply chain in China reels from the novel coronavirus outbreak that has killed more than 3,000 people worldwide. If production continues to lag, it could affect the timing of Apple's annual iPhone refresh.
Source Fool.com
