How are energy investors positioned?
Investing.com -- Shares of Apple (NASDAQ:AAPL) and Amazon experienced a drop in premarket trading, while other stocks from the Magnificent Seven (Mag 7) showed a slight increase.
Apple’s shares dropped by 2.7% following the company’s announcement of disappointing sales in China. The iPhone maker also warned about the potential impact of tariffs.
CEO Tim Cook stated that the planned US tariffs on foreign imports are expected to add an additional $900 million in costs for the current period.
Similarly, Amazon.com (NASDAQ:AMZN) shares fell by 2.2%. The e-commerce and cloud-computing giant provided a weaker-than-expected outlook for operating income and indicated that it is preparing for a more challenging business climate in the upcoming months.
On the other hand, other stocks from the Mag 7 group edged higher on hopes of positive developments in U.S.-China trade talks.
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