US Markets
The US stock markets closed slightly higher on Monday as major companies continued to release their quarterly financial results.
The Dow Jones fell at close by 0.18% while the S&P 500 rose 0.18%. The Nasdaq 100 also gained by 0.61%.
Tesla Q1 Earnings
American electric vehicle and clean energy company Tesla Inc. on Monday released its quarterly results revealing that its total revenues for the first quarter of 2021 rose by 74% to stand at $10.4 billion.
Automotive revenues surged by 75% to $9 billion as net income surged by 2,638% year-on-year to $438 million.
Tesla produced 180,338 vehicles in the first three months while it delivered 184,877 vehicles, a growth of 109% year on year.
In a an investor call, Tesla Inc. CEO Elon Musk described on Monday the current global shortage of semiconductors as a “huge problem.”
Amazon Stock Split
Fox Business reported on Monday that Amazon Inc.’s stock split is likely to happen in 2021, with a possibility of being announced as early as April 29 when the company releases its quarterly results, citing anonymous traders.
The split may lead to Amazon founder Jeff Bezos wealth rising significantly as more people will now be able to buy the shares.
The stock split would also enable the company to join the Dow Jones Industrial Average.
Apple’s $430B US investment
Apple Inc. announced on Monday that it will be investing $430 billion in the United States over a five-year period, adding 20,000 new jobs over the period.
The tech giant said it intends to invest in its facilities and expand its workforce across major US states.
“At this moment of recovery and rebuilding, Apple is doubling down on our commitment to US innovation and manufacturing with a generational investment reaching communities across all 50 states,” Tim Cook, Apple’s CEO said in a press release.
READ; Global Markets Weekly
