ECONOMIC SILUET: Watch these Apple suppliers, FedEx and these medical device standouts in tomorrow’s trading

Selasa, 04 April 2023

Watch these Apple suppliers, FedEx and these medical device standouts in tomorrow’s trading

TUE, APR 04, 2023

The goal of this newsletter is to get you ahead of the next day of investing and trading. It's your first look at tomorrow and last look at today powered by the team of people who direct CNBC TV's stock market coverage.

Tomorrow's Top CNBC Stories Tonight

Apple

Apple is up 31% over the past three months. It's second in the Dow Jones Industrial Average only to Salesforce.
Shares of the suppliers are also movers when Apple does well.
Of the companies that make stuff for Apple, only two stocks are outperforming the company in the past three months: AMD, which is up 48%, and Cirrus Logic, up 40%.
Over the past three months:
Intel is up 19.5%. It's still a supplier but much less so than it used to be.
Skyworks is up 22%.
Jabil is up 29%.
Broadcom is up 13%.
NXP Semiconductors is up 11.5%.
Qualcomm is up nearly 10%.
Two other suppliers, Corning and Flex, are both flat.

When it's better to split up

Needham's widely followed senior analyst Laura Martin said on "Closing Bell: Overtime" today when asked about Alphabet, "We hope the government splits it apart. We hope they make them spin off ad tech. We'd love to see YouTube spun off. We think the more entities that get further away from that wonderful search engine profit center, the better it is for shareholders."
Alphabet is up 18.7% so far in 2023.
Last week, Alibaba announced it was splitting into six groups.
Shares have popped since that announcement. There was a good debate tonight on "Fast Money," America's post-market trading show.

Medical devices power higher

Boston Scientific hit a new all-time high today. The company went public in May 1992.
Stryker also hit an all-time high today. The company's IPO was in 1979.
A thank you to Chris Hayes of the CNBC Data Team for the stats.
Boston Scientific is up 8% in 2023.
Stryker is up 17% in 2023.
The iShares U.S. Medical Devices ETF (IHI) is up 2.6% year to date, and it's up 3% in the past week.
Top performers in the ETF this year include Heska, Si-Bone and Cardiovascular Systems, all of which are up more than 45% in 2023. GE Healthcare Technologies is another notable gainer.
At the bottom of the list: Baxter International, LivaNova, Procept BioRobotics and ViewRay. All are down in the 20% range so far this year.

FedEx

The company has its DRIVE program update tomorrow, an event for investors.
CEO Raj Subramaniam will speak.
The stock is about flat since he took over on June 1, 2022.
But since the start of 2023, the stock is up 30%.

Stellantis shines

CNBC's Phil LeBeau interviews the CEO of Stellantis Wednesday morning around 10:45 a.m. ET.
The stock is outpacing automotive giants like GM in 2023.
Stellantis is up nearly 27% year to date versus a 6% gain for GM.