Driven by fears about sales of iPhones, Apple (AAPL) has recently lost its position as the world’s most valuable company, in favor of Microsoft, (-3.2% Friday) in a particularly difficult stock market condition for the internet giants, whose stock market prices have plummeted in recent weeks, after reporting top performances for several years. Apple fell by 3.9%, bringing its fall more than 35% since its record high of about $232 per share hit on October 3. The market capitalization of the manufacturer of the iPhone plunged from $1,100 billion to about $739 billion, a decline of some $385 billion. Friday, in terms of market capitalization, Microsoft was leading with $754 billion, followed by Apple ($715 billion), Alphabet (-3.1% Friday and $684 billion capitalization) and Amazon (- 5.7% Friday, and $673 billion in capitalization).
Boeing (BA) has received an order from Nigeria Green Africa Airways for 100 737 MAX 8 aircraft, half of which are optional. At the list price, the contract reached $11.7 billion. This is simply the largest order ever placed by a company based in Africa. The 737 MAX 8 has the fastest sales in the Boeing family, with more than 4,800 orders from more than 100 customers. The aircraft manufacturer also announced that Flyadeal has agreed to order 30 737 MAX, with options for 20 additional devices ($6 billion at list price). Based in Jeddah, Flyadeal started operations in September 2017.
Carnival (CCL) was down more than 3%, with the cruise giant posting mixed results and conservative forecasts. Net income for the quarter ended November was $494 million and 71 cents per share, compared to $546 million and 76 cents per share a year earlier. Excluding certain items, the adjusted EPS was 70 cents versus 69 cents consensus. Revenues totaled $4.46 billion, compared with $4.26 billion a year earlier. For the quarter started, the group anticipates an adjusted EPS ranging from 40 to 44 cents, against 45 cents consensus.