Big tech stocks lost more than $200 billion in market value in a day from coronavirus fears

Tim Cook

Coronavirus fears hammered technology stocks on Monday.
The prospect of a global pandemic wiped more than $200 billion from the combined market capitalizations of Apple, Google-parent Alphabet, Amazon, Microsoft, and Facebook.
Shares in all five tech titans slumped at least 4% after coronavirus deaths were reported in Iran, Italy, and South Korea.
Apple expects to miss its quarterly revenue target because coronavirus has forced store closures, eroded customer traffic, and disrupted its supply chain.
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Coronavirus fears erased more than $200 billion from Apple, Google-parent Alphabet, Amazon, Microsoft, and Facebook’s combined market capitalization on Monday.

All five technology titans saw their stocks tumble at least 4% as investors braced for coronavirus to escalate into a global pandemic. Apple, the most valuable public company in the world, saw more than $60 billion wiped off its $1.4 trillion market cap.

Microsoft also gave up nearly $60 billion, while Amazon and Alphabet’s market caps both shrunk by more than $40 billion. Facebook, the least valuable member of the group, surrendered more than $25 billion.

President Donald Trump praised Microsoft, Apple, Google, and Amazon as “MAGA” stocks earlier this month, when all four boasted market caps north of $1 trillion. Monday’s sell-off pushed Alphabet below that valuation, and Amazon closed just north of it.

However, the “big tech” quintet look set to regain ground — their stocks rose roughly 1% in pre-market trading on Tuesday.

Wuhan coronavirus — which causes a disease called COVID-19 — has infected nearly 80,000 people, killed more than 2,600, and spread to roughly 3o countries. Recent fatalities in Iran, Italy, and South Korea have fanned fears that it will spread worldwide and hamper global growth.

Apple recently warned that it expects to fall short of its revenue forecast for this quarter. It blamed coronavirus …read more

Source:: Business Insider

      

Trump’s former doctor said he mixed cauliflower into the president’s mashed potatoes in a sneaky attempt to get him to eat vegetables

Trump Big Mac buffet

President Donald Trump’s aversion to vegetables and love of junk food is well known, and former White House physician has described his attempt to introduce more healthy eating into the president’s diet.
“We were making the ice cream less accessible, we were putting cauliflower into the mashed potatoes,” Dr. Ronny Jackson told The New York Times.
Trump was found to be clinically obese in his physical exam last year, weighing in at 243 pounds.
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Former White House physician Dr. Ronny L. Jackson has described to The New York Times his plot to introduce more vegetables into junk-food fanatic President Donald Trump’s diet.

Jackson, who is currently campaigning to be elected representative of Texas’ 13th congressional district, told The Times that before the leaving the role as Trump’s physician, he had been determined to cut the president’s weight by 10 to 15 pounds, possibly by introducing an exercise bike.

“The exercise stuff never took off as much as I wanted it to,” he said. “But we were working on his diet. We were making the ice cream less accessible, we were putting cauliflower into the mashed potatoes.”

Jackson’s glowing endorsement of the president’s physical condition while he was White House physician — where he claimed the president could live “200 years” with dietary improvements — had earned him Trump’s favor.

In 2018, Jackson was nominated by Trump to head the Department of Veteran’s Affairs, but later was forced to withdraw his candidacy after reports emerged of allegations of faulty prescription practices and drunkenness at work.

Trump’s love of junk food is well known.

He famously fueled his presidential campaign with Diet Coke and McDonald’s, and served a Big Mac buffet on silver platters when Clemson University’s football team visited the White House in January 2019.

Some foreign …read more

Source:: Business Insider

      

Amazon opened its first cashierless full grocery store in Seattle as it ramps up its position in the grocery sector

Amazon Go seattle

Amazon is opening its first cashierless grocery store in Seattle on Tuesday.
The new location, which falls under the Amazon Go banner, will sell fresh produce, meat, seafood, bread, and ready-made meals among other things.
Existing Amazon Go stores are more like convenience stores, carrying grab-and-go sandwiches and snacks, so the move represents an expansion of its offering.
Amazon is making significant strides in the grocery space and working hard to grow its reach beyond Whole Foods, which it acquired in 2017.
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Amazon is opening its doors at a new Amazon Go location in Seattle on Tuesday.

The new 10,000-square-foot store will be run in the same way as its sister locations – offering a cashierless shopping experience for its customers.

The major difference here is that this will be the first full-line Amazon Go grocery store of its kind.

A representative for the company confirmed to Business Insider that the store will sell fresh produce, meat, seafood, bread, and ready-made meals among other things. It will also stock beer, wine, and spirits.

“We offer a mix of organic and conventional items from well-known brands, along with special finds and local favorites,” a spokesperson said in a press release sent out early Tuesday.

This is a significant step up from its existing Amazon Go stores, which are essentially convenience stores, stocking a mix of grab-and-go breakfast and lunch food as well as snacks. Those stores are located in the center of major cities and tailored to busy office workers located nearby.

Amazon opened its first Amazon Go store in 2018, two years after it made public its plans for a futuristic new store. It has since opened 24 other locations in Seattle, New York, Chicago, and San Francisco.

The retail giant is making significant strides in …read more

Source:: Business Insider

      

Shaquille O’Neal shared Kobe Bryant’s hilarious response to being told ‘There’s no I in team’ after Lakers teammates complained he didn’t pass enough

Shaq at Kobe Bryant memorial

Shaquille O’Neal joked about the moment his former teammate Kobe Bryant gained his respect early in his career at a memorial for the star and his daughter Gianna on Monday.
O’Neal recounted the moment that two of Bryant’s Lakers teammates complained to him that Bryant was not passing enough.
O’Neal said that as one of the team’s senior players, he went to Bryant and told him: “Kobe, there’s no ‘I’ in team.”
Bryant replied: “No, but there is a M-E in that motherf—–.”
Afterwards, O’Neal said he went back to the teammates, who he named as Lakers legends Rick Fox and Robert “Big Shot Rob” Horry, and told them: “Just get the rebound, he’s not passing.”

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Former LA Lakers teammate Shaquille O’Neal joked that Kobe Bryant once told him there is an “M-E” in team after his teammates complained that Bryant was not passing the ball enough.

In a moment of levity at an otherwise sombre memorial for Bryant and his daughter Gianna at the Staples Center in downtown Los Angeles on Monday, O’Neal recounted a moment early in Bryant’s career when fellow Lakers came to him to complain about Bryant’s selfishness on court.

“The day Kobe gained my respect, the guys were complaining, saying ‘Shaq, Kobe’s not passing the ball,'” O’Neal told the crowd at the memorial, which included celebrities such as Beyoncé, Jay-Z, Jimmy Kimmel, Usher, and Alicia Keys.

“I said: ‘I’ll talk to him.’ I said: ‘Kobe, there’s no I in team.’ And Kobe said: ‘I know, but there’s a M-E in that motherf—–.'”

Afterwards, O’Neal said he went back to the teammates, who he named as Lakers legends Rick Fox and Robert “Big Shot Rob” Horry, and told them: “Just get the rebound, he’s not passing.”

You can watch the emotional moment below:

Shaq: “I told …read more

Source:: Business Insider

      

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