Apple's $14B Tax Slam, Endava Lawsuits & Adobe's Stock Shock! 🚀📉 #TechNews

Intro welcome to the Friday edition of tech stocks daily folks hold on to your gadgets because we've got a roller coaster of tech news for you today we'll dive into Apple's turbulent week from staggering stock prices and colossal 14 billion tax debts to their AI powered iPhone 16 launch we're also decoding the legal squabbles surrounding andava with multiple class action lawsuits hitting their stock hard and Adobe despite Stellar Q3 earnings faces an 8% stock drop what's the deal you don't want to miss this juicy Roundup let's get into it all right folks gather around because Apple (AAPL) today's episode is a juicy one we're diving deep into Apple a company caught in a whirlwind of news get ready because we're talking overpriced stocks massive tax bills new iPhones and AI drama first up let's talk stock prices is Apple overpriced well it's a valid question these days apple is the crown jewel of tech companies but its stock price is Raising some eyebrows currently trading at 33.6 times earnings it's significantly higher than the S&P 500's 22 6 times basically some folks think you're paying a premium for those Sleek iPhones and fancy MacBooks here's the Scoop while new features like improved battery life and marginally better cameras on recent iPhone models are nice they just haven't been game changers iPhone sales have been flat for the past few years even with new models rolling out like clockwork however there's a glimmer of hope as Apple Ventures into the AI Universe with its new feature Apple intelligence but will Apple's 4A into AI be enough to justify that Hefty stock price analysts remain skeptical predicting modest growth rates of 2% for this fiscal year and 133% next year so if you're eyeing Apple stocks thinking they're the golden ticket you might want to think twice next up is Apple's 14 billion doll tax debacle with Europe's highest court yep you heard that right $14 billion the European commission accused Ireland of offering illegal tax benefits to Apple both apple and the Irish government aren't thrilled about this decision but Ireland will comply and collect the taxes critics are saying this sets a bad precedent potentially scaring away big businesses from the EU this tax Saga is unfolding right as Apple launches its iPhone 16 series which is packing some serious AI power Apple intelligence is being touted as a tech Revolution handling photo editing real-time answers and enhanced messaging right from your device it's Apple's response to Rivals like Samsung and Google who are already deep into AI however the smartphone market is Shifting Gears with more people holding on to their devices longer putting a strain on companies dependent on frequent upgrades and remember that consolidation phase Apple stock is in trading between $200 and $235 it's a waiting game for investors looking for another breakout the stock closed at 22266 after a slight uptick meaning it's not diving but also not leaping finally let's brighten the mood with three reasons why maybe just maybe you should still consider buying Apple stock despite all the drama Apple retains a loyal customer base with 93% of current owners likely to buy another Apple device staggering right plus Apple's service sector is growing rapidly becoming a major Revenue driver and don't forget while the stock might be down from its July Peak Wall Street still sees potential holding a bullish Outlook with a Target price of $247 $22 so there you have it a loaded day for Apple in the tech news Spotlight is it time to sell hold or buy well that's your call but one things for sure Apple never disappoints when it comes to giving us something to talk Endava plc (DAVA) about get ready for a roller coaster of legal drama because indaba PLC is making headlines today and it's not for launching a groundbreaking new tech product currently two different law firms brunstein GS and grman LLC and faruki and faruki LLP are spotlighting in Dava urging investors who experience losses to get involved in ongoing class action lawsuits grab your popcorn let's break it down first off braunstein gz and Grossman LLC announced that they're rallying andava investors to lead a class action lawsuit focusing on those who purchased or acquired inava Securities between May 23rd 2023 and February 28th 2024 they beef they alleg that andava and its Executives made misleading statements or failed to reveal critical details according to the lawsuit andava service demand was nose diving clients were bailing on or postponing projects and this cocktail of issues torpedoed andava outlook for 2023 and 2024 imagine being an investor and suddenly finding out that your Golden Goose and Dava laid an egg that's basically what happened when andava stock tumbled down 2665 a whopping 42% to close at 3717 on February 29th 2024 not exactly the type of markdown you look forward to right bronstein goerzen grman LLC wants AG grieved investors to visit b.com Dava and take the chance to lead the lawsuit before the October 25th 2024 deadline but wait there's more farqi and faruki LLP is also in the ring echoing similar concerns they're specifically reaching out to those investors who saw their portfolio shrink by more than $100,000 during the same period faruki and faruki alleged that indaba's Executives were aware of their sinking ship yet still portrayed a Rosy Outlook until it all came crashing down this led to the infamous February 29th stock plunge which definitely left a crater in many investors wallets call Josh Wilson at faruki and faruki or head over to faruki law.com Dava to sort out your next steps before you guessed it October 25th 2024 so why does this matter these lawsuits aren't just headline fodder they can shape how publicly traded companies communicate and conduct themselves ethically investors have the power to hold corporations accountable ensuring transparency and fairness and if you're an endava investor sitting idly by might mean missing out on the potential recovery of your hard-earned money in summary andava PLC is caught in a legal Quagmire with multiple law firms rallying to rectify alleged misleading business practices if you've got skin in this game Now's the Time to navigate your options check out bang.com Dava and faruki law.com / Dava to know more and reach out to the respective law firms to fine-tune your strategy stay tuned and keep your eyes peeled you never know when the next tech company might be doing the courtroom Adobe (ADBE) shuffle all right Tech enthusiasts gather around because today's Hot Topic is Adobe and boy is there some spice in today's Financial frying pan Adobe stock took a tumble today dropping over 8% let's dive into the nitty-gritty details of why Adobe stock got smacked around despite delivering a rock solid third quarter earnings report so Adobe just reported its fiscal third quarter earnings and let me tell you the numbers themselves looked pretty sweet Revenue hit 5.41 billion beating analysts expectations of 5.37 billion even better was the earnings per share coming in at 4.65 whereas Wall Street was only predicting 453 by most accounts Adobe had a stellar quarter but hold up don't pop that bubbly just yet while Adobe raged in the dough its guidance for the next quarter left a bad taste in investors mouths they projected sales for the fourth quarter to be between 5.5 billion to 5.55 billion while analysts were expecting a cool 5.61 billion and don't even get me started on their anticipated earnings per share Adobe expects it between $436 to $468 but analysts were aiming for 467 it was the same story over in adobe's digital media arm investors were betting on yearly recurring Revenue to hit $561 million Adobe however tempered expectations aiming for $550 million it seems adobe's future isn't quite as dazzling as some had hoped despite their baffo Q3 earnings the Market's response a not so joyous sell-off sending the stock into an 8% nose dive enter Jim Kramer the ever opinionated host of cnbc's Mad Money who had a few bones to pick with the analysts being super critical of adobe Kramer highlighted that while adobe's future projection might not be a journey to Unicorn Land analysts were ignoring the solid Q3 Foundation throwing shade at the haters he said there's a middle ground between total Euphoria and total skepticism essentially preaching for a bit more moderation and maybe a Sprinkle of Common Sense Kramer isn't alone in being optimistic about Adobe investors like Jim lethal also think adobe's prowess in AI positions it well for ongoing success folks Adobe may not have have a shiny glimmering forecast but let's not forget it's still rolling out that AI Tech pretty effectively overall Adobe closed at 58655 on Thursday before the hammer came down in after hours trading as of now the stock has only bumped up 1.12% year-to date what do you guys think is Wall Street overreacting to adobe's conservative guidance or is there genuine reason for concern could adobe's AI initiatives push them back into investors good books or is this a wakeup call for the old software giant drop your thoughts below and let's chat about it Today's Pick all right Tech efficient Autos let's turn the spotlight onto Apple for a bit so based on today's sizzling news platter would I sell buy or hold Apple stock let's cut to the chase my vote goes to hold here's why first Apple is navigating some Rough Waters with its stock currently trading at prici or multiples than the S&P 500 average with analysts predicting modest growth of 2% this fiscal year and 133% next year it's clear that the era of skyrocketing stock prices might be slowing down a tad add to this mix a colossal $4 billion tax bill imposed by Europe's highest court in stagnating iPhone sales despite all the new bells and whistles and you might get a bit jittery about making any big moves however it's not all cloudy skies and rainstorms Apple's loyal customer base is solid as a rock 93% of current owners are likely to make a repeat purchase a testament to their DieHard fan appeal plus Apple's Services sector is flourishing accounting for a juicy chunk of Revenue and let's talk about their AI Endeavors like the Apple intelligence feature which could be a potential Game Changer it feels like apple is gearing up for a marathon rather than a Sprint while stocks are h covering between 200 and 235 and we saw a minor uptick to 222 6X there's no Earth shattering breakthrough on the horizon for now but you might want to hold steady historically Apple has always found a way to innovate just when doubters are about to count them out and let's not forget renowned analysts still hold a bullish Outlook with a Target price of $247 122 in summary my advice is hold your Apple stocks it's all about weathering this current storm and waiting for those clear skies and shiny Innovations to re-energize the stock price but hey always do your own research SE Arch this is the tech stock market we're talking about unpredictable thrilling and sometimes a roller coaster of emotions so stay tuned stay curious and keep those fingers on the pulse Thanks for watching folks wao what a day on the NASDAQ Apple's navigating choppy Waters with overvalued stocks and a colossal 14 billion tax slap yet it's still pulling the rule of hold due to its unbeatable brand loyalty and emerging AI Ventures meanwhile inava stock is Tangled in lawsuit drama putting investor transparency to the test in Adobe solid earnings didn't stop a nose dive but they're still pitted strong for future AI Endeavors despite wall Street's bumpy reaction all right fam if you enjoyed this roller coaster of tech news don't forget to like subscribe and share the tech love hit that Bell so you don't miss our next exciting update come back on Monday for another blast of tech goodness have a fantastic weekend everyone [Music]