Nov 2, 2018

Stagnant holiday projections puts Apple's trillion dollar valuation at risk

The Apple logo. Photo: Stuart C. Wilson/Getty Images

Apple's recent stock plunge could kick the company out of the $1 trillion dollar valuation club if the selloff continues, reports the Wall Street Journal.

The big picture: Apple fell 6.7% after announcing its decision to stop reporting device unit sales in future results and a weak financial outlook for the key upcoming holiday quarter. If the stock falls below $207.04 — it hit $207.30 in early morning trading — the company's valuation will fall under a trillion. However, Apple's stock is up 23% so far this year.

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Trump's big, empty beef with Twitter

Illustration: Aïda Amer/Axios

President Trump finally acted on his now year-old threat to take action against social media platforms for alleged bias against conservatives. But so far, according to experts in both government and the industry, the threat looks mostly empty.

Driving the news: Trump escalated his war on Twitter Friday morning, tweeting repeatedly that the company needs to be regulated after it overnight added a warning label to a tweet of his calling for the military to start shooting looters, which violated Twitter’s rules against glorifying violence.

In photos: Protests over George Floyd's death grip Minneapolis

The Third Police Precinct burns in Minneapolis on Thursday night. Photo: Stephen Maturen/Getty Images

Demonstrators demanding justice burned a Minneapolis police station and took control of the streets around it last night, heaving wood onto the flames, kicking down poles with surveillance cameras and torching surrounding stores.

What's happening: The crowd was protesting the death of George Floyd, an unarmed black man whose life was snuffed out Tuesday by a white Minneapolis police officer who kneeled on his neck for about eight minutes.

Minneapolis mayor to Trump: “Weakness is pointing your finger” during a crisis

Minneapolis Mayor Jacob Frey fired back at President Trump on Friday, after the president accused the mayor of weak leadership amid violence sparked by the killing of an unarmed black man by a white police officer.

Driving the news: Trump made his accusations in a pair of tweets early Friday, saying he would bring the national guard into Minneapolis if Frey couldn't “bring the City under control.”