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Goldman Sachs reduced its price target Apple Tuesday. The company said in a note that there was a "weak demand for Apple products in China and in other emerging markets", as well as a disappointing reception for the iPhone XR model .
Facebook shares slid 40% from their highs, as the company was hardest hit by FAANG shares. Since this summer, a host of negative ads have been aired, including on the treatment of foreign influence by Facebook executives during the 2016 election in the United States.
Amazon's shares continue their downturn, which began on October 25, with a much lower outlook for the fourth quarter. Netflix and Alphabet shares, on the other hand, fell sharply along with the rest of the FAANG shares.
Facebook and Alphabet each peaked at 52 weeks in July, at $ 218.62 per share and $ 1,291.44 per share, respectively. Netflix peaked in June at $ 423.21 per share. Amazon and Apple were the most recent to reach their highest level in 52 weeks: $ 2550.50 per share in September and $ 233.47 per share in October, respectively.
– With CNBC report
Dominic Chu
.
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