Stock Movers Closing Bell: Apple Closes Higher, Cleveland-Cliffs Rises on Earnings, AppLovin Sinks
Oct 20, 2025
Apple's shares soared to a record high following a positive upgrade from Loop Capital, fueled by strong early demand for the iPhone 17 series. Cleveland-Cliffs made headlines with a significant earnings beat and potential rare earth mineral discoveries in Michigan and Minnesota. Meanwhile, AppLovin faced challenges as reports emerged of a regulatory probe, leading to its decline in the market. The podcast offers a lively roundup of these market movements and insightful analysis.
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Broad Market Rally Lifts Nasdaq 100
- The Nasdaq 100 closed at a record high while the composite did not.
- Broad gains across sectors drove a risk-on session with 414 S&P 500 stocks higher.
Apple's iPhone 17 Momentum
- Apple hit its first 2025 record after Loop Capital upgraded the stock citing stronger iPhone demand.
- The iPhone 17 series is outselling the iPhone 16 by about 14% in the first 10 days in the US and China.
Cleveland-Cliffs Rally On Rare Earths
- Cleveland-Cliffs jumped after better-than-expected earnings and a pact with another metal producer.
- The company also found two sites in Michigan and Minnesota with potential rare earth minerals to evaluate.