Company Of The Day: Apple
What?
Apple (NASDAQ:AAPL) acquired a U.K based fintech start-up called Credit Kudos, which leverages machine learning to create an alternative to traditional credit scores.
Why?
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Apple has been gradually expanding its presence in financial services, with Apple Pay and the Apple credit card. The new acquisition indicates that Apple might be looking to expand into lending as well.
So What?
Apple stock gained about 1% on Wednesday, compared to the broader S&P 500 which declined by over 1%
See Our Complete Analysis For Apple
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| Returns | Mar 2022 MTD [1] |
2022 YTD [1] |
2017-22 Total [2] |
| AAPL Return | 4% | -3% | 493% |
| S&P 500 Return | 3% | -5% | 102% |
| Trefis MS Portfolio Return | 2% | -9% | 259% |
[1] Month-to-date and year-to-date as of 3/24/2022
[2] Cumulative total returns since the end of 2016
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