AAPL - Apple Inc.

NasdaqGS - NasdaqGS Real-time price. Currency in USD
308.95
-9.36 (-2.94%)
At close: 4:00PM EST
Stock chart is not supported by your current browser
Previous close318.31
Open310.06
Bid0.00 x 800
Ask0.00 x 1100
Day's range305.89 - 311.76
52-week range154.11 - 323.33
Volume40,485,005
Avg. volume27,880,429
Market cap1.354T
Beta (5Y monthly)1.24
PE ratio (TTM)25.98
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield3.08 (0.97%)
Ex-dividend date06 Nov 2019
1y target estN/A
  • Apple, AMD earnings: What to know in markets Tuesday
    Yahoo Finance

    Apple, AMD earnings: What to know in markets Tuesday

    Earnings season kicks into higher gear Tuesday with a slew of quarterly reports, but investors will be paying especially close attention to tech giant Apple and chipmaker Advanced Micro Devices.

  • Reuters - UK Focus

    Austria's AMS to place treasury stock to strengthen investor base

    Sensor maker AMS, preparing for a capital increase to fund the takeover of Osram , plans to place its entire treasury stock prior to the equity issue to strengthen its investor base, it said on Tuesday. The Swiss-listed group intends to place the 3.35 million shares, worth 134.57 million Swiss francs ($139.09 million) at Monday's closing price, via a private placement at market conditions to selected institutional investors, AMS said. AMS shareholders approved a 1.7 billion euros capital increase to partly finance the takeover of the much bigger German lighting group on Friday, bringing the Austrian group closer to its goal of forming a European leader in sensors and lights.

  • Coronavirus outbreak may disrupt Apple's iPhone production ramp up plans: Nikkei
    Reuters

    Coronavirus outbreak may disrupt Apple's iPhone production ramp up plans: Nikkei

    The company has asked its suppliers, many of whom have manufacturing centers in China, to make up to 80 million iPhones in the first half of 2020, the Nikkei reported, citing people familiar with the company's plans. Apple has booked orders for up to 65 million of its older iPhones and up to 15 million units of a new cut-price model that it plans to unveil in March, according to the report.

  • Coronavirus outbreak may disrupt Apple's iPhone production ramp up plans - Nikkei
    Reuters

    Coronavirus outbreak may disrupt Apple's iPhone production ramp up plans - Nikkei

    The company has asked its suppliers, many of whom have manufacturing centers in China, to make up to 80 million iPhones in the first half of 2020, the Nikkei reported, citing people familiar with the company's plans. Apple has booked orders for up to 65 million of its older iPhones and up to 15 million units of a new cut-price model that it plans to unveil in March, according to the report.

  • Apple Supply Chain Braces for Disruption From Coronavirus
    Bloomberg

    Apple Supply Chain Braces for Disruption From Coronavirus

    (Bloomberg) -- Apple Inc.’s China-centric manufacturing base is at risk of disruption after the Lunar New Year holiday as the company’s partners confront the coronavirus outbreak that has gripped the country and caused more than 100 deaths.Virtually all of the world’s iPhones are made in China, primarily by Foxconn’s Hon Hai Precision Industry Co. at its so-called iPhone City in Zhengzhou and by Pegatron Corp. at an assembly site near Shanghai. Each of those locations is more than 500 kilometers away from Wuhan in central China, the epicenter of the viral outbreak, but that distance doesn’t immunize them from its effects.“I can’t imagine a scenario where the supply chain isn’t disrupted,” said veteran industry analyst Patrick Moorhead of Moor Insights & Strategy. “If there’s one major hiccup in the raw materials, fabrication, assembly, test, and shipping, it will be a disruption.”Apple has been increasing production to meet higher-than-anticipated iPhone demand, Bloomberg News reported last week. The company typically launches its new high-end iPhones around September, so the virus is unlikely to have meaningful impact on those plans, however the company is also preparing to begin mass production of a new low-cost iPhone in February, which is more at risk.Apple has roughly 10,000 direct employees in China, across its retail and corporate entities. Its supply chain also has a few million workers manufacturing products like the iPad, iPhone and Apple Watch. Many of those employees have been home the past few days for the holiday, and the company hasn’t said if it is asking them to stay home for longer to prevent the virus spreading. Chinese authorities have imposed severe travel restrictions and taken the drastic step of quarantining the entire city of Wuhan, a population of more than 11 million.“Supply chain disruption is a worry if employees across Foxconn and other component manufacturing hubs in China are restricted,” said analyst Dan Ives of Wedbush Securities Inc. “If the China outbreak becomes more spread it could negatively impact the supply chain which would be a major investor worry.”An Apple spokeswoman declined a request for comment.Foxconn said it is monitoring the situation in China and following all recommended health practices. It declined to comment on production in specific locations but said, “We can confirm that we have measures in place to ensure that we can continue to meet all global manufacturing obligations.”Confirmed cases of the coronavirus are rising in Henan province -- home to Zhengzhou facility -- which may lead Hon Hai or the government to close factories to prevent further contamination, Bloomberg Intelligence analyst Matthew Kanterman wrote. The province accounted for a quarter of China’s smartphone exports last year, while China’s exports make up 27% of global smartphone sales, he said, citing government and IDC data. Foxconn is estimated to account for more than 60% of Henan’s total trade.The Cupertino, California-based company prepares for extreme scenarios such as the coronavirus by mandating that major components be dual-sourced -- both in terms of vendors and geography -- and a major immediate impact to its production plans is unlikely for now, according to a person familiar with its operations. Even so, the vast majority of its assembly work is done in China, and so a shortage of workers for assembly lines will have a direct impact on shipment numbers.Apple put the redundancy policy in place after the 2011 earthquake and tsunami that hit Japan and led to component constraints for the iPad 2 that the company launched that year.While Apple doesn’t have any stores in Wuhan, it does have dozens of retail locations across the Chinese mainland. The company hasn’t announced any closures yet, however it has shortened the opening hours of several stores in the country through Feb. 7, according to a review of its retail website. That shift could be due to the Chinese government extending the lunar holiday as a means to control the virus.Along with its local workforce, Apple also relies on many of its U.S. staff going back and forth across the Pacific Ocean, with United Airlines Inc. last year revealing the company was spending $35 million per year flying employees between San Francisco and Shanghai alone. That included 50 daily business-class seats, according to the airline. How the virus outbreak may affect the research and development efforts that those trips facilitate has yet to be established.Investors and analysts will be looking to Chief Executive Officer Tim Cook to make comments on the virus and its impact on Apple during Tuesday’s conference call to discuss the latest quarterly financial results. Cook tweeted over the weekend that Apple “will be donating to groups on the ground helping support all of those affected” by the virus.To contact the reporters on this story: Mark Gurman in Los Angeles at mgurman1@bloomberg.net;Debby Wu in Taipei at dwu278@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Vlad SavovFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Facebook Restricts Employee Travel to China on Virus Concern
    Bloomberg

    Facebook Restricts Employee Travel to China on Virus Concern

    (Bloomberg) -- Facebook Inc. started restricting employee travel to China as the deadly coronavirus continues to spread across the world’s most populous country, according to people familiar with the decision.The limits, which went into effect Monday, halt non-essential travel to China by all Facebook employees. If workers have to visit the country, they need specific approval. Facebook staff based in China, and those who recently returned from trips to the country, are also being told to work from home, said the people, who asked not to be identified discussing private communications. The company declined to comment.Honda Evacuates, Starbucks Stores Shut: Virus Impact on BusinessThe travel restrictions at the social media company are likely to impact its hardware division, which sells devices such as the Portal video chat hub and Oculus virtual reality headsets. Hardware requires frequent travel from the company’s Silicon Valley offices to China, where engineers and managers oversee product development, meet with suppliers and transport prototypes.Facebook’s current products likely won’t be impacted, but the move could cause engineering delays on future devices, one of the people said. The company is looking to other facilities that it has in Vietnam to pick up any work that can’t be done in China, the person added.While Facebook is one of the smaller hardware makers among the U.S. technology giants, its plight underscores the potential impact of the virus on the industry. The majority of Apple Inc.’s vast supply chain is in China and other parts of Asia. Amazon.com Inc. and Alphabet Inc.’s Google also make their devices in the region.To contact the reporters on this story: Mark Gurman in Los Angeles at mgurman1@bloomberg.net;Kurt Wagner in San Francisco at kwagner71@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Alistair BarrFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • TikTok Rival Byte Debuts at Top of U.S. App Store
    Bloomberg

    TikTok Rival Byte Debuts at Top of U.S. App Store

    (Bloomberg) -- Byte, a new video-sharing app released Friday to compete with ByteDance Inc.’s TikTok, has rocketed to the top of Apple Inc.’s U.S. App Store.Created by Dom Hofmann, Byte reboots the deprecated Vine video-sharing service, which he co-founded in the summer of 2012 and sold to Twitter Inc. later that year. The parent company failed to find a way to make the service profitable and eventually discontinued it in 2016. Despite its brief existence, Vine became a cultural touchpoint in the U.S., with many users embracing its six-second time limit as a creative challenge. It was where controversial YouTube star Logan Paul, whose channel now has more than 20 million subscribers, got his start.Byte “ended Friday as the No. 1 free iPhone app on the U.S. App Store and is still in the top spot,” said Randy Nelson of research firm Sensor Tower. Beside the U.S., Byte is also the top free iOS app in Canada and ranks in the top 10 in Australia, New Zealand, Norway and the U.K. On Android’s Play Store, Byte is sixth among free apps in the U.S.The new app was downloaded more than 780,000 times over the weekend, with three quarters of those installs coming from the U.S., Sensor Tower estimated on Monday.The timing of Byte’s release coincides with a moment of reckoning for TikTok and its Beijing-based parent company. ByteDance is looking to hire a chief executive officer for TikTok, which is under increasing scrutiny from U.S. lawmakers wary about the influence of Chinese companies on American consumers. TikTok’s runaway popularity has been deemed to create “national security risks,” according to a letter by Senators Chuck Schumer and Tom Cotton in the fall.Unlike ByteDance, which is the world’s highest-valued startup, and most other social media contenders, Byte is starting off small and its community guidelines make several references to the company’s modest budget. Still, the strong early response to Byte’s arrival -- coming with little to no advance fanfare -- suggests the community that Vine built up remains loyal to the particular six-second format. Some of the early popular videos on the platform are humorous proclamations of “Don’t post TikToks here.”(Updates with downloads in fourth paragraph)To contact the reporter on this story: Vlad Savov in Tokyo at vsavov5@bloomberg.netTo contact the editor responsible for this story: Peter Elstrom at pelstrom@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Facebook Q4 Preview: Buy FB Stock Before Earnings?
    Zacks

    Facebook Q4 Preview: Buy FB Stock Before Earnings?

    Investors need to know what to expect from Facebook's Q4 financial results and beyond to help understand what might be next for Facebook stock...

  • Tech Earnings Expected to Turn Around
    Zacks

    Tech Earnings Expected to Turn Around

    Tech Earnings Expected to Turn Around

  • Buy Surging Apple & Microsoft Stock Before Quarterly Earnings?
    Zacks

    Buy Surging Apple & Microsoft Stock Before Quarterly Earnings?

    On today's episode of Full Court Finance here at Zacks, we dive into everything investors need to know about Apple and Microsoft stock to help figure out if either tech giant is worth buying heading into quarterly earnings...

  • Tech Daily: Intel Results, Netflix Surge, Apple Valuation, Google-ATVI Deal, More
    Zacks

    Tech Daily: Intel Results, Netflix Surge, Apple Valuation, Google-ATVI Deal, More

    The top stories in this digest are Intel's earnings, Netflix's surging share price, Apple's valuation concerns and the Google-Activision deal.

  • From Chipmakers to Casinos, Virus Angst Is Far-Ranging in Stocks
    Bloomberg

    From Chipmakers to Casinos, Virus Angst Is Far-Ranging in Stocks

    (Bloomberg) -- Chipmakers, cruise lines and casino operators are taking some of the hardest hits in U.S. stock trading Monday as investors flee companies with close links to China, where authorities are struggling to control the deadly coronavirus.At least 80 people have died in mainland China from the virus, which started in the city of Wuhan, while confirmed cases have jumped to more than 2,700. Fears that China has failed to contain the virus, which has spread around the globe, roiled world markets, with the S&P 500 Index sliding the most since October. The market rout comes at the start of a week that’s jam-packed with earnings from companies like Apple Inc., Amazon.com Inc. and McDonald’s Corp.“We’ve said that if the right catalyst came along, markets would be ripe for a pullback,” Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, told Bloomberg TV. “Valuations are extremely stretched right now and positioning is extremely euphoric.”While the Chinese market remains closed for the Lunar New Year holiday, U.S. stocks with exposure to the country are tumbling amid growing concern the outbreak could turn into a pandemic that will squelch sales growth. Below are some of the sectors that are being hardest hit:ChipmakersThe Philadelphia Semiconductor Index fell as much as 4%, the most in five months.Wuhan is a major chip memory design and manufacturing site in China, and the outbreak will have an impact on memory chips and display makers, according to Susquehanna analyst Mehdi Hosseini. Universal Display, a developer and manufacturer of organic light emitting diodes, can be “adversely impacted by the inability to ship products to Wuhan,” Hosseini said. The stock fell as much as 8.1% Monday.The Wuhan travel ban could potentially disrupt manufacturing at Yangtze Memory Technologies Co., China’s leading producer of NAND flash memory chips, which could modestly benefit Western Digital Corp., Hosseini said.Analysts at Mizuho echoed the concern, saying that memory chip production “could be affected by the Coronavirus quarantine.”Apple fell as much as 3.9%, while American depositary receipts for supplier Taiwan Semiconductor Manufacturing dropped as much as 4.6%. Broadcom Inc. and Qualcomm Inc., which according to Bloomberg data rely on China for more than 35% of their revenue, each fell more than 3%. Among other Apple suppliers: IPG Photonics Corp. shed as much as 7.2%, Coherent Inc. was down as much as 5.6%, Skyworks Solutions Inc. dropped as much as 5%, and Cirrus Logic Inc. was down as much as 4.8%.Nvidia Corp. and NXP Semiconductors NV, which rely on China for at least one-fifth of their revenue, were among the worst performers in the Philadelphia Semiconductor Index, each down more than 5%.Chinese Stocks Traded in the U.S.Alibaba Group Holding Ltd. fell as much as 6.7%, following last week’s 6% drop. Baidu Inc., JD.com Inc. fell at least 6%, while Tencent Holdings Ltd. dropped as much as 5.5%. Vipshop Holdings fell as much as 7.1%.Shanghai-based car manufacturer Nio Inc. was among companies hit the most, down as much as 18%. The iShares China Large-Cap exchange-traded fund fell as much as 6%.CasinosWynn Resorts fell 10% after Bank of America downgraded the stock to neutral from buy because of growing concerns about the virus impact on the company’s Macau operations. Wynn’s casino resorts include the Wynn Macau and the Wynn Palace in Macau. The effect on Macau is worse than expected, Sanford C. Bernstein analyst Vitaly Umansky said in a note. “We now have data and anecdotal evidence and the Chinese New Year holiday period is shaking up to be the weakest Macau has seen in years,” Umansky said.Las Vegas Sands followed Wynn Resorts lower with a loss of as much as 10%. MGM Resorts International and Melco Resorts & Entertainment each fell down at least 6%.Cruise Companies, Travel Agencies and AirlinesCruise-ship operators including Royal Caribbean and Carnival Corp. face risks to their earnings as trip cancellations and travel fears mount, analysts at UBS and Wedbush warned. Both stocks fell as much as 6%.James Hardiman, an analyst at Wedbush, said 2020 outlooks for online travel agencies are at risk. Trivago NV fell as much as 9.1% in U.S. trading, while Expedia slid as much as 4.7%.Airlines were hit, too. American Airlines fell as much as 8.2% following a 4% drop on Friday, while United Airlines slid as much as 6.5% to its lowest since July 2018.EntertainmentShares of Imax Corp. fell as much as 4.5%. The impact of lost revenue from Chinese New Year will cost Imax at least $60 million in global box office revenue, analysts at MKM Partners wrote in a note on Monday.The temporary closure of Walt Disney Co.’s Shanghai Disneyland “comes at a lucrative and peak travel time to celebrate Lunar New Year,” JPMorgan analyst Alexia Quadrani wrote in a note. The stock slid as much as 3.6%.RetailEstee Lauder Cos. fell as much as 7% after Oppenheimer analysts cut their recommendation to perform from outperform, saying the firm’s travel-retail segment may be “adversely impacted” until March or even longer because of the outbreak. Estee Lauder is the global consumer brand under Piper Sandler’s coverage universe that’s most at risk from a potential travel slowdown stemming from a coronavirus outbreak, analyst Erinn Murphy said last week. Peer Coty Inc. fell as much as 4.7%, following European cosmetics stocks lower.Canada Goose Holdings Inc., which is expanding in China, fell as much as 6% in New York.EnergyEnergy companies slumped the most among all S&P 500 sectors on concern that the coronavirus will hit oil demand. Crude futures extended a five-day losing streak. Shares of HollyFrontier Corp., Concho Resources Inc., Schlumberger Ltd. and Halliburton Co. all fell as much as 5%.\--With assistance from Janet Freund, Gregory Calderone, Ryan Vlastelica and Esha Dey.To contact the reporter on this story: Elena Popina in New York at epopina@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Richard Richtmyer, Catherine LarkinFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Top Ranked Momentum Stocks to Buy for January 27th
    Zacks

    Top Ranked Momentum Stocks to Buy for January 27th

    Top Ranked Momentum Stocks to Buy for January 27th

  • Apple Set to Beat Q1 Earnings Estimates: Tech ETFs to Buy
    Zacks

    Apple Set to Beat Q1 Earnings Estimates: Tech ETFs to Buy

    Analysts raising estimates right before earnings - with the most up-to-date information possible - is a pretty good indicator for the stock.

  • Investing.com

    Day Ahead: Top 3 Things to Watch for Jan 28

    By Yasin Ebrahim and Kim Khan

  • Bloomberg

    Sonos Should Give Up Hardware-Only Business Model

    (Bloomberg Opinion) -- How long should a manufacturer be responsible for maintaining support for legacy products? Consumer devices have increasingly become smart and connected, only to later be abandoned by the manufacturer. Smart suitcases have turned dumb, talking toys gone mute, and wireless security cameras bricked into paperweights. Most recently, Sonos got a lot of grief for announcing that older versions of their smart home speakers would soon lose access to services and functionality. Customers complained that they had spent thousands on their audio systems, with some products still on the market as recently as 2015.A hardware device is a one-time purchase, while software updates require continuous labor. As technology improves and devices last longer, the initial manufacturing cost may end up being a small proportion of the total lifetime cost of production. Many manufacturers have shifted to business models that treat the device sale as a loss leader for future revenue streams. Amazon can afford to underprice the Echo because it enables consumers to buy more stuff from Amazon, Google and Spotify teamed up to give away Google Home Minis, and even Apple recently lowered prices on its iPhones to grow a user base for its subscription services.At the more controversial end of the spectrum, companies like John Deere have used the Digital Millenium Copyright Act to legally prevent users from repairing their own equipment, forcing their customers to continue paying into a lucrative repair market.Sonos boxed itself into a corner early on by promising customers free software updates for life. As CEO Patrick Spence testified at a Congressional hearing earlier this month, “Our business model is simple — we sell products which people pay for once, and we make them better over time with software updates.”The company is in a particularly difficult position because Sonos began as a home audio company before the advent of smart home assistants. Its earliest speakers weren’t designed with the processing power and storage required to take advantage of today’s features. To minimize complexity, Sonos designed its audio system so that all devices in a home network would share the same software. Once one product is no longer eligible for updates, the whole setup would stop receiving updates. Sonos customers lodged public complaints and bullied the company into submission. Sonos promised to keep the updates coming.A better long-term solution for the company might be found by looking to a different coalition of rebellious customers: a group that has been quietly reverse-engineering their speakers to liberate them from the company’s software entirely. It’s not an easy task. A Sonos speaker integrates a speaker and a microprocessor running a proprietary operating system. In order to jailbreak the speaker, a user must gain access to the internal hardware and install their own software.It would no doubt please these customers were Sonos to make their legacy speakers open source. Sonos has already indicated that the company can remotely erase the software; it could similarly perform a remote reinstallation of an open-source operating system like Linux or Android. The company’s tech-savvy fans could then continue to improve the software — which could be downloaded by other users — while Sonos focuses on its core competency of manufacturing high-end speakers.In the future, device manufacturers may be less generous about promising a lifetime of free software support. After all, most technological improvements these days are done in software. When it comes to cars, the internal combustion engine hasn’t changed much since fuel injectors were introduced in the 1980s. The performance improvements seen in recent decades have come from better sensors and smarter software to interpret sensor data.Autonomous vehicles will have an even tougher sell, as it’s inevitable that self-driving technology will continue to improve after initial release. Will further updates be free, or will the vehicle manufacturer hold consumer safety for ransom?While it’s easy to insist that customers should have free access to software updates running on devices they rightfully own, it’s hard to reconcile a sustainable business model with a lifetime of free software. A device that requires a paid subscription or leaves software updates as an exercise for the customer is better than one that turns into a brick.To contact the author of this story: Elaine Ou at elaine@globalfinancialaccess.comTo contact the editor responsible for this story: Sarah Green Carmichael at sgreencarmic@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Elaine Ou is a Bloomberg Opinion columnist. She is a blockchain engineer at Global Financial Access in San Francisco. Previously she was a lecturer in the electrical and information engineering department at the University of Sydney.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Apple, Microsoft, Facebook, Amazon and Intel are part of Zacks Earnings Preview
    Zacks

    Apple, Microsoft, Facebook, Amazon and Intel are part of Zacks Earnings Preview

    Apple, Microsoft, Facebook, Amazon and Intel are part of Zacks Earnings Preview

  • FAANG ETFs in the Spotlight Ahead of Q4 Earnings
    Zacks

    FAANG ETFs in the Spotlight Ahead of Q4 Earnings

    The FAANG stocks have been outperforming the market over the past three months buoyed by the initial U.S.-China trade deal. Hopes of better-than-expected earnings releases are also adding to the strength.

  • Will Non-iPhone Segments Drive Apple's (AAPL) Q1 Earnings?
    Zacks

    Will Non-iPhone Segments Drive Apple's (AAPL) Q1 Earnings?

    Apple's (AAPL) fiscal first-quarter 2020 results are expected to reflect robust performance of the non-iPhone segments.

  • A Healthy Consumer Means More Retail Disruption
    Bloomberg

    A Healthy Consumer Means More Retail Disruption

    (Bloomberg Opinion) -- The most recent retail sales data provides a glimpse into the mind of the U.S. consumer.The latest monthly retail sales report from the U.S. Census Bureau recorded December sales (excluding gasoline, automobiles and restaurants) of $384.6 billion. Compared with the prior year’s $ 360.5 billion, that’s a solid year-over-year gain of 6.7%. Sales in November 2019 were $330.2 billion for a 1.1% gain over 2018’s $325.9 billion. Average these two-monthly totals and you get a 4.1% year over year gain for the holiday-shopping period.Those are strong numbers. Delving deeper reveals several interesting data points:\-- consumer sentiment has fully recovered from the lows after the financial crisis and is back to levels that prevailed in mid-2000s;\-- sentiment is still below the frothy dot-com peak of the late 1990s, suggesting that consumers are confident about the future but not in a reckless or unsustainable way;\-- consumer debt relative to disposable income remains at the lowest level in at least four decades, indicating that there's room for them to spend more:These three data points suggest that the next few quarters of gross domestic product growth, retail sales and durable goods orders are likely to be robust.In the typical election year, these economic positives tend to benefit the White House incumbent. I will let others debate whether this is a typical election year.Two other interesting issues worth mentioning: Online sales measured by point-of-sale credit-card transactions from MasterCard’s SpendingPulse showed that e-commerce in 2019 reached all-time highs. E-commerce now accounts for 14% of U.S. retail sales and likely will continue to claim a growing piece of the pie. Worldwide, online sales have nearly tripled during the past five years from $1.3 trillion in 2014 to more than $3.5 trillion in 2019, according to Statista. Projections are for this to more than double during the next five years.One surprise from the MasterCard data is that online shopping is accelerating, rising 18.8% last year compared with 2018’s 18.4%. There are few signs online retail is slowing. If anything, the generation that grew up online doesn't think of e-commerce as anything special; it's simply retail.One other observation: Perhaps the most intriguing online retail outlet is Instagram’s Checkout. It was named 2019’s Technology of the Year by Mobile Marketer. Fashion site Glossy describes Instagram as the next big sales channel “for direct-to-consumer companies and traditional retailers alike.”More than just promoting a brand or product, Instagram is facilitating the sale of products directly to consumers. The company takes its slice of the transaction. Combine this with the lethally accurate algorithms deployed by parent company Facebook Inc. and you can imagine the sort of sales growth that might lie ahead.To give you an idea of the size of this marketplace, Instagram has more than 1 billion accounts active each month worldwide (Facebook has 2.45 billion active users). Most of them have some form of payment system, including credit cards, Venmo, PayPal or Apple Pay.So far, Instagram Checkout has been rolled out slowly since the platform introduced it in March. It has been testing product tags in posts since 2016. Again according to Glossy, tags came to “Instagram Stories” about two years later. The fashion site, quoting Instagram, reports that 130 million people tap a product tag to shop or see a price every month. Instagram is native to mobile, which is where the new generation of consumers spend most of their connected time. Although Instagram hasn't made a big splash in online retailing yet, the potential is there.To be sure, there are some inklings of problems with counterfeit goods. This has been an issue that has haunted both Amazon.com Inc. and eBay Inc. If Instagram wants to become a serious player in retail, it needs to nip this in the bud.Disruption doesn't sleep. Don’t be surprised if the incumbent stars of e-commerce -- the leading members of the last generation of disruptive technologies — become the new victims of creative destruction.The relative health of the American consumer makes the disruption all the more likely — and sooner rather than later.To contact the author of this story: Barry Ritholtz at britholtz3@bloomberg.netTo contact the editor responsible for this story: James Greiff at jgreiff@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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