Investing.com – The Nasdaq snapped a three-week losing streak on Friday, as tech rebounded with a strong showing from Apple ahead of its iPhone 5G launch widely expected to be just weeks away.
Tech continued to ride the wave of bargain-seeking investors scooping up beaten-down blue chips in the sector, with Apple (NASDAQ:AAPL), in particular, seeing strong gains, up 3%. The rise in Apple comes as Morgan Stanley (NYSE:MS) said the stock’s recent weakness provides a “compelling entry point.” Recent checks suggest that Apple is taking market share in Europe and China ahead of its iPhone 5G launch, the bank added. Read more…..
Chart of the Day
Kourtney Gibson of Loop Capital and CNBC’s Mike Santoli discuss what led to the market breaking its 4-day losing streak.