Dow Jones Slips as Disney Stock Soars, Apple Plans In-house Modem
The Dow Jones Industrial Average (DJINDICES: ^DJI) was down about 0.13% at 11:05 a.m. EST Friday, but it was outperforming the other major indexes thanks to Disney (NYSE: DIS). The entertainment conglomerate nearly tripled its four-year outlook for Disney+ subscribers at its Investor Day event, news that sent the stock more than 10% higher.
Shares of Apple (NASDAQ: AAPL) weren't so lucky, slumping a bit after the company reportedly began work on an in-house modem chip. This will allow Apple to reduce its dependency on chip companies for its devices, but it was news that was known to be coming sooner or later.
Image source: Disney.
Source Fool.com
