The day after President Trump took office, Apple (AAPL) was the most notable declining stock among the magnificent seven. AAPL stock dropped by 3.19% to close at $222.64. Tesla (TSLA) fell by a comparable percentage but recovered by the end of the day.
Several analysts piled on the bearish Apple rating downgrade. Jefferies now expects Apple to miss its estimates for the quarter and on its guidance. In addition, Loop Capital cut its rating, setting a $230 price target, or nearly $8.00 in upside. As a result, Nvidia (NVDA) took back the biggest stock by market capitalization title.
Nancy Pelosi’s disclosure of selling AAPL stock is the real reason for the daily decline. The government official has a knack in buying stocks that subsequently perform well. In a new congressional trading form, the Congresswoman disclosed an increase in holding Alphabet (GOOG), Amazon (AMZN), and many other tech firms.
Notable travel services companies falling on Tuesday are Booking (BKNG), down 4.88%, Airbnb (ABNB), down 1.52%, and Expedia (EXPE), down 3.14%.
In the residential construction sector, Lennar (LEN) erased its recent stock rebound. The company faces headwinds as U.S. mortgage rates climb. D.R. Horton (DH), however, sustained its uptrend. The company reaffirmed its FY 2025 revenue outlook of up to $37.5 billion, exceeding consensus estimates. In addition, it expects to achieve consolidated cash flow provided by operations to increase year-over-year.
