Dow Jones Replace Walmart as Fintech Startup, Apple’s iPhone 12 Cell Well in China

Dow Jones Industrial Average (DJIndices: ^ DJI) The US grapevine, with a highly precarious situation in Washington and an out-of-control epidemic, was slightly changed at 1:45 pm on Tuesday, by only 0.1%. The House plans to vote on President Donald Trump’s impeachment on Wednesday for his role in last week’s riots in the US Capitol, a few days before the inauguration of President-Elect Joe Biden. Meanwhile, the daily deaths attributed to COVID-19 are higher than the first peak of the epidemic in April.

Turning to shares of individual shares Walmart (NYSE: WMT) It was launched on Tuesday after the retailer’s announcement, while tech giant Shares launched a fintech start-up. Apple (NASDAQ: AAPL) Despite the signs of strong iPhone 12 sales in China fell.

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Walmart creates fintech start-ups

Retail juggler Walmart announced late Monday that it had formed a new fintech in association with fintech investment company Ribbit Capital. The start-up, which will be owned by Walmart, aims to “provide a technology-driven financial experience tailored to Walmart’s customers and affiliates.”

The board of directors for the start-up will include Walmart US President and CEO John Ferner, Walmart CFO Brett Biggs and Rebate Capital managing partner Mayor Malka. The board plans to add industry experts and recruit a management team with experience in the fintech industry. There may be partnerships and acquisitions with major fintech companies to drive growth.

Rebbit Capital is involved with some of the highest-profile fintech companies around, including stock trading apps Robinhood, Credit Karma and Affirm. Walmart’s start-up will be able to take advantage of relationships that already have millions of customers, including those who have started using the company’s online grocery services during the epidemic.

Walmart recently launched its Walmart + subscription service, which offers same-day normal delivery for purchasing groceries and select general merchandise with $ 35 orders, as well as from Does not ship minimum. Walmart + has increased the chances of some customers from Walmart who do not usually shop at Walmart; The fintech effort may have a similar effect.

Walmart shares gained 1.7% as of Tuesday afternoon. The stock has jumped nearly 28% over the past year as the epidemic has attracted shoppers to use Walmart’s various e-commerce services.

Apple’s iPhone 12 does well in China

Digitimes reported on Tuesday that Apple’s iPhone 12 family performed during the fourth quarter of 2020 with sales of 18 million units expected in China. This is good for 20% market share. The numerals drew these figures from data available from local media in China.

According to Counterpoint Research, the share of Apple’s smartphone market in China has risen from the middle single digits to 14% during the last one-and-a-half years. The company is facing intense competition from Chinese smartphone vendors, making it difficult for Apple to achieve anything close to the dominance it has gained in the United States.

The 20% market share is an improvement, but it is understandable that Apple’s market share will increase immediately after product launch. Some of these benefits will be undone when Chinese rivals launch their own new products. It will take several quarters to see if Apple is here to stay market share.

Apple shares were down about 0.6% as of Tuesday afternoon. The stock rocketed to a high in 2020, taking Apple’s valuation to historically high levels. This year could be more than strong sales in China to keep the stock high.

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