Stock Movers Apple Down on Trade Fears, Block Plunges, Duolingo Jumps
May 2, 2025
Emily Grafeo, a Bloomberg News cross-asset reporter, dives into the turbulent waters of the stock market. She discusses Apple's struggles, particularly due to disappointing sales in China and looming tariff issues, causing a notable stock dip. In contrast, Duolingo boasts impressive growth, fueled by its new AI-powered features, pushing subscriber numbers up dramatically. The contrasting fortunes of these tech giants highlight the varied impacts of current economic conditions on digital services.
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Apple Stock Falls on Tariff and China Worries
- Apple's shares dropped as much as 5% following disappointing China sales and tariff worries.
- Despite a broad market rally, investor concerns about escalating costs and China's slowdown weighed heavily on Apple.
Duolingo Grows with AI-Powered Features
- Duolingo shares surged 18% due to strong earnings and growth in AI-powered video call features.
- The AI feature simulates real conversations, improving language learning through interaction with AI personalities.
Block Shares Drop on Weak Spending
- Block's shares dropped 20%, its biggest fall since March 2020, after cutting gross profit guidance.
- The decline in discretionary spending like travel signals consumers tightening budgets, while essentials spending remains stable.