Jim Cramer and Action Alerts PLUS senior analyst Jeff Marks discussed Apple (AAPL) – Get Apple Inc. (AAPL) Report, Microsoft (MSFT) – Get Microsoft Corporation (MSFT) Report, Rivian, the latest on cryptocurrency regulation following an interview with SEC Chair Gary Gensler, Macau casino stocks and much more.
All About Apple
Reception from analysts and tech watchers alike was lukewarm as upgrades mostly focused on chip speed, camera accessories and screen sizes, TheStreet’s Martin Baccardax reported.
In a livestream hosted by CEO Tim Cook Tuesday, Apple introduced a suite of new products, including new iPhones and Apple Watches.
The Dow Jones Industrial Average was down 15.84 points, the Nasdaq Composite was up 37.19 points and the S&P 500 was up 7.06 points.
Watch the full interview with TheStreet Live at 10:00 a.m. ET in the video below:
In an interview with TheStreet Live ahead of the reveal Tuesday, Cramer warned that like the rest of market, Apple stock faces a rocky September and investors should proceed with caution.
There Will Be Buybacks
Microsoft raised its quarterly dividend rate by 11%, to 62 cents from 56 cents, payable to shareholders of record on November 18. The company announced a $60 billion stock buyback with no expiration date, which can be terminated at any time, Reuters reported. Microsoft also named Brad Smith, its chief legal counsel, to the position of vice chairman, making his the second-highest ranked employee behind chairman and CEO Satya Nadella.
Macau Royale Macau casino stocks came into focus as Beijing kicked off a regulatory overhaul that could see its officials supervising companies in the world’s largest gambling hub.
Macau, a Special Administrative Region of China, told casino operators current rules for gambling licenses could be revised to include “government supervision” of their day-to-day operations. Names including Wynn Macau, China Sands, Galaxy Entertainment and Melco Entertainment lost a collective $14 billion in value.
The debate of gold versus cryptocurrency continues as SEC chair Gary Gensler and the Senate turn their attention to cryptocurrency regulation. In a recent column on Real Money, Jim Cramer had a very simple message: You can believe in both, while approaching the two assets differently.
Crypto vs. Gold: Sophie’s Choice? Macau is the world’s largest gambling hub.