After an illustrious career leading Apple (AAPL), CEO Tim Cook will retire later this year.
Apple announced on Monday that John Ternus will succeed Cook, while Cook takes on the executive chairman position on September 1. Tenus led Apple’s hardware division for half his life. His portfolio included the iPhone, iPad, Apple Watch, AirPods, Vision Pro, and iPad.
Watch for AAPL stock’s reaction today.
The Trade Desk (TTD) gained 7.03% on Monday. As of mid-April, the short interest on TTD stock was 15.65%. This bearish position is the 10th highest in the large-cap segment. Bears have a bigger short interest against AST SpaceMobile (ASTS), Pinterest (PINS), Lumentum (LITE), Wayfair (W), and Blue Owl Capital (OWL).
Intel (INTC) fell more than the peer chip stocks on Monday. After falling by over 4%, shares pulled back from the $70.33 52-week high. INTC stock trades at a forward P/E of 128 times. It trails behind CPU suppliers like AMD (AMD). In the GPU space, Nvidia (NVDA) and AMD are both ahead. Investors might want to trade Broadcom (AVGO), Micron (MU), Qualcomm (QCOM), and NXP Semiconductor (NXPI) instead.
Among the Magnificent 7, Meta (META) needs to rebound from Monday’s 2.56% decline. Tesla (TSLA) is also showing signs of strong selling pressure at its moving average.
