For 2024, Boeing (BA) earned the title of one of the worst-performing stocks on the NYSE. Down by 23% YTD, Boeing continued to face more bad news.
The Federal Aviation Administration said on March 4 that its audit found Boeing and Spirit AeroSystems (SPR) did not comply with manufacturing quality control requirements. Boeing is in negotiations to acquire Spirit. This only heightens uncertainties for BA stock.
EV giant Tesla (TSLA) lost 7% on Monday when it reported sales falling by 19% Y/Y to 60,365 in China. The low volume is a level not seen since Dec. 2022.
Competition may worsen after China’s BYD priced a new version of its best-selling EV. The vehicle, Atto 3, has a price tag of under 120,000 yuan or around $16,650.
Alphabet (GOOG) may lead to the growing weakness among the magnificent seven. Google co-founder Sergey Brin admitted in a rare public appearance that the firm messed up on image generation. The co-founder’s return may help Google find its way as it falls behind the AI race.
Analysts removed Apple (AAPL) from their conviction buy list. Shares are down 9% YTD and closed at levels not seen since last May 2023. The European Commission fined the firm EUR 1.8 billion, citing Apple’s App Store rules for music streaming providers were considered abusive. The EC cited Spotify (SPOT) as a victim. Spotify issued a statement that described Apple’s behavior as unlawful.
