Apple is closing all of its stores outside China until March 27 in a bid to slow the spread of the coronavirus outbreak, CEO Tim Cook said. Cook said the firm had learned from steps taken in China, where the tech giant has just reopened its retail stores.

Apple is closing all of its stores outside China until March 27 in a bid to slow the spread of the coronavirus outbreak, CEO Tim Cook said. Cook said the firm had learned from steps taken in China, where the tech giant has just reopened its retail stores. "One of those lessons is that the most effective way to minimize risk of the virus's transmission is to reduce density and maximize social distance," he said in a statement late Friday. "As rates of new infections continue to grow in other places, we're taking additional steps to protect our team members and customers." Apple's online store would remain open but office staff outside China would be working remotely if possible, Cook added. The California-based firm has about 500 stores in 24 countries around the world. Despite the closures, Cook said hourly workers would continue to be paid as normal. The CEO said Apple had expanded its leave policy "to accommodate personal or family health circumstances created by COVID-19" including caring for a sick loved one, mandatory quarantine or childcare due to school closures. Apple has also donated $15 million to help the fight against the pandemic and will be matching employee donations two-to-one. "The global spread of COVID-19 is affecting every one of us," Cook said. He ended his statement thanking "the heroic first responders, doctors, nurses, researchers, public health experts and public servants" around the world fighting the pandemic. All of Apple's 42 stores in China have reopened after being closed since February 1 as the epidemic rapidly spread there. The shops have been gradually returning to business in the past few days and the last ones reopened on Friday as China slowly resumes work. Mass quarantines had forced factories to suspend operations and shops to shut. Apple, which depends on components from Chinese suppliers and has a big market in China, was hammered on both fronts. Last month, Apple said it would miss its second quarter revenue forecast and global iPhone supplies would fall because of the epidemic. The firm had forecast revenue of $63-$67 billion for January-March, but did not disclose how much it expected revenue to fall.

Apple closing all stores outside China until March 27 due to coronavirus

Apple said on Monday that it will not be able to meet revenue estimates for the March quarter due to the coronavirus outbreak in China, making it the first major US company to admit the impact of the virus.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/lates-india-news-wistron-to-start-assembly-of-key-iphone-component-in-india-soon-278274">Wistron to start assembly of key iPhone component in India soon</a>

The iPhone maker says its supply of smartphones would be hampered as production was slower than expected.

The company had forecast $63 billion to $67 billion in revenue for the quarter ending in March. Apple makes most of its iPhones and other products in China.

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The outbreak temporarily halted production and also closed all retail stores in the country.

While all iPhone factories located outside of the Hubei province, which is the centre of the outbreak, have reopened, Apple has said that they are "ramping up slower than expected".

Some Apple retail stores also reopened in China with reduced hours last week. This comes at a time when sales of iPhones were up for the first time in a year.

It spells bad news for China which is the world's biggest market for smartphones. Analysts estimate that this coronavirus could slash the demand for smartphones by almost half in the first quarter of this year.

Apple said on Monday that it will not be able to meet revenue estimates for the March quarter due to the coronavirus outbreak in China, making it the first major US company to admit the impact of the virus.

Apple said on Monday that it will not be able to meet revenue estimates for the March quarter due to the coronavirus outbreak in China, making it the first major US company to admit the impact of the virus. Also read: Wistron to start assembly of key iPhone component in India soon The iPhone maker says its supply of smartphones would be hampered as production was slower than expected. The company had forecast $63 billion to $67 billion in revenue for the quarter ending in March. Apple makes most of its iPhones and other products in China. × The outbreak temporarily halted production and also closed all retail stores in the country. While all iPhone factories located outside of the Hubei province, which is the centre of the outbreak, have reopened, Apple has said that they are "ramping up slower than expected". Some Apple retail stores also reopened in China with reduced hours last week. This comes at a time when sales of iPhones were up for the first time in a year. It spells bad news for China which is the world's biggest market for smartphones. Analysts estimate that this coronavirus could slash the demand for smartphones by almost half in the first quarter of this year.

Apple says it won't be able to meet revenue estimates for March quarter due to coronavirus 

Sales of <a href="https://www.wionews.com/world/apple-taking-a-deeper-look-at-map-policies-after-calling-crimea-part-of-russia-265344">Apple</a> Inc's iPhone in China in December jumped more than 18 per cent&nbsp;year on year, government data showed on Thursday.

China is gearing up for the Lunar New Year in late January, a major gift-giving holiday.

Apple shipped roughly 3.2 million phones in China in December, data from the China Academy of Information and Communications Technology and Reuters calculations showed.

That was up from 2.7 million a year earlier.

After a peak period in 2015, iPhone sales in China stagnated due to factors including longer upgrade cycles and competition from Chinese rivals.

Sales of phones from China's <a href="https://www.wionews.com/business-economy/some-huawei-suppliers-get-us-approval-to-restart-sales-to-blacklisted-firm-263525">Huawei Technologies</a> Co Ltd have boomed while overseas the company has faced political pressure from Washington over its technology.

In the third quarter of 2019, Huawei accounted for 42 per cent of new phone shipments in China, according to research firm IDC.

Throughout 2019, Apple offered discounts and financing schemes aimed at boosting sales in China.

In the company's last earnings call, CEO Tim Cook suggested that such initiatives were successful in attracting more Chinese consumers.

Apple is scheduled to release its next quarterly financial report in late January.

Sales of Apple Inc's iPhone in China in December jumped more than 18 per cent year on year, government data showed on Thursday. China is gearing up for the Lunar New Year in late January, a major gift-giving holiday.

Sales of Apple Inc's iPhone in China in December jumped more than 18 per cent year on year, government data showed on Thursday. China is gearing up for the Lunar New Year in late January, a major gift-giving holiday. Apple shipped roughly 3.2 million phones in China in December, data from the China Academy of Information and Communications Technology and Reuters calculations showed. That was up from 2.7 million a year earlier. After a peak period in 2015, iPhone sales in China stagnated due to factors including longer upgrade cycles and competition from Chinese rivals. Sales of phones from China's Huawei Technologies Co Ltd have boomed while overseas the company has faced political pressure from Washington over its technology. In the third quarter of 2019, Huawei accounted for 42 per cent of new phone shipments in China, according to research firm IDC. Throughout 2019, Apple offered discounts and financing schemes aimed at boosting sales in China. In the company's last earnings call, CEO Tim Cook suggested that such initiatives were successful in attracting more Chinese consumers. Apple is scheduled to release its next quarterly financial report in late January.

Apple's iPhone sales in China up 18 per cent in December: Report

A New York cardiologist has sued Apple over its&nbsp;heartbeat monitoring technology which he claims was invented by him.

Dr. Joseph Wiesel who works in the department of medicine in New York University in a lawsuit said that Apple had infringed on patents and claimed that the company "willfully disregarded" the rights since he was the owner of the patents.

Wiesel has now filed a case in a federal court in Brooklyn, suing Apple for infringing on his patents. The New York University cardiologist claims in his lawsuit that Apple went ahead despite "knowledge and understanding" of his patents which he had been working on since 1999.

The study was based on atrial fibrillation detection techniques for which Wiesel alleges Apple did not give him any credit although he claimed that he had shared the patent details with the tech giant way back in 2017 but alleged that the company "refused to negotiate".

The controversy involves Apple watch which has a feature which measures heart rate and sends notifications to the users on irregular pulse. Wiesel said his research was a pioneering step towards atrial fibrillation detection done by him.

Apple is yet to comment on the development.

A New York cardiologist has sued Apple over its heartbeat monitoring technology which he claims was invented by him. Dr. Joseph Wiesel who works in the department of medicine in New York University in a lawsuit said that Apple had infringed on patents and claimed that the company "willfully disregarded" the rights since he was the owner of the patents.

A New York cardiologist has sued Apple over its heartbeat monitoring technology which he claims was invented by him. Dr. Joseph Wiesel who works in the department of medicine in New York University in a lawsuit said that Apple had infringed on patents and claimed that the company "willfully disregarded" the rights since he was the owner of the patents. Wiesel has now filed a case in a federal court in Brooklyn, suing Apple for infringing on his patents. The New York University cardiologist claims in his lawsuit that Apple went ahead despite "knowledge and understanding" of his patents which he had been working on since 1999. The study was based on atrial fibrillation detection techniques for which Wiesel alleges Apple did not give him any credit although he claimed that he had shared the patent details with the tech giant way back in 2017 but alleged that the company "refused to negotiate". The controversy involves Apple watch which has a feature which measures heart rate and sends notifications to the users on irregular pulse. Wiesel said his research was a pioneering step towards atrial fibrillation detection done by him. Apple is yet to comment on the development.

New York cardiologist sues Apple over heartbeat monitoring technology

Apple Inc has started selling its popular iPhone XR phones assembled in India, as it looks to expand its share in the world's second-largest smartphone market where it has struggled against cheaper products from rivals.

The phones are being assembled at Chinese contract manufacturer Foxconn's India factory, helping the Cupertino, California-based company avoid high levies on the import of fully-built devices as well as meet local sourcing norms for opening its own retail stores in India.

iPhone XR boxes with an "Assembled in India" tag were seen on Monday in many of the country's electronic product retailers, including Croma, with a price tag of 49,900 Indian rupees (£542) for the 64 GB version.

The company has slashed iPhone XR prices in India to counter a prolonged sales slowdown amid fierce competition from premium smartphones from Samsung and OnePlus.

Earlier this year Reuters had reported that the company would assemble its top-end iPhones in India.

Apple did not immediately respond to a request for comment.

Prime Minister Narendra Modi's government has tried to position South Asia's third-biggest economy as a hub for smartphone manufacturing.

Companies such as Apple are also looking to use India as an export hub to soften the impact of an ongoing trade war between the United States and China.

Apple Inc has started selling its popular iPhone XR phones assembled in India, as it looks to expand its share in the world's second-largest smartphone market where it has struggled against cheaper products from rivals.

Apple Inc has started selling its popular iPhone XR phones assembled in India, as it looks to expand its share in the world's second-largest smartphone market where it has struggled against cheaper products from rivals. The phones are being assembled at Chinese contract manufacturer Foxconn's India factory, helping the Cupertino, California-based company avoid high levies on the import of fully-built devices as well as meet local sourcing norms for opening its own retail stores in India. iPhone XR boxes with an "Assembled in India" tag were seen on Monday in many of the country's electronic product retailers, including Croma, with a price tag of 49,900 Indian rupees (£542) for the 64 GB version. The company has slashed iPhone XR prices in India to counter a prolonged sales slowdown amid fierce competition from premium smartphones from Samsung and OnePlus. Earlier this year Reuters had reported that the company would assemble its top-end iPhones in India. Apple did not immediately respond to a request for comment. Prime Minister Narendra Modi's government has tried to position South Asia's third-biggest economy as a hub for smartphone manufacturing. Companies such as Apple are also looking to use India as an export hub to soften the impact of an ongoing trade war between the United States and China.

Apple starts selling locally assembled iPhone XR in India

Along with its new iPhones, Apple is stepping up on content and services for its devices for its big media event Tuesday.

Apple was expected to introduce three upgraded iPhones and a successor to its more affordable iPhone XR as it looks to hold its share of the premium smartphone market where prices are hovering around $1,000.

But services, subscriptions and online content will likely share the stage with the company's glitzy hardware as Apple seeks to shift its focus away from a smartphone market which is showing little growth.

"I think it is going to be the first year the event is going to also be about services," Creative Strategies analyst Carolina Milanesi said.

"We might get to see what Apple looks like as a company when they are talking about services and hardware as one product."

Richard Windsor of research firm Radio Free Mobile said Apple is coasting on the iPhone because of its strong quality but is not likely to see strong growth from either hardware or services.

"There is not much upside because services revenue will take years to reach a scale where it can really move the needle company-wide," Windsor said.

"Unfortunately, the market wants fireworks from Apple on cue every year meaning that no growth will dampen share price performance."

TV+ turned on?

Apple recently released a smartphone-generation credit card in the US and is keen to launch its TV+ streaming service before Disney goes live with a rival service in November.

They unveiled streaming video plans along with news and game subscription offerings as part of an effort to shift its focus to digital content and services to break free of its reliance on iPhone sales.

The company also plans to launch a new game subscription service called Apple Arcade by the end of this year.

Apple managed to grow its overall revenues, albeit by a modest one percent, to $53.8 billion, even as iPhone revenues plunged nearly 12 percent in the April-June period.

The company delivered strong growth from digital content and services that include its Apple Pay and Apple Music, along with wearables and accessories like the Apple Watch and Air Pods.

Some of those accessories could also get upgrades on Tuesday.

China wild card

Analysts warn that Apple still faces challenges as rivals chip away at the smartphone market, in which the iPhone's share is less than 12 percent.

As the iPhone maker refines its handsets, other makers are pushing into new areas such as 5G devices and folding smartphones.

Wedbush Securities analyst Dan Ives said in a note to investors that he expected a "trifecta of iPhone 11s" that will help the company "put a fence around" its user base.

About a third of the 900 million iPhone users around the world are in an upgrade "window," meaning a strong potential for handset sales, according to Ives.

"While China remains a wild card, we are bullish into Apple's future" in the coming year, Ives said.

International Data Corporation (IDC) forecast that this will remain a challenging year for iPhone sales, mostly due to a mature market and lack of handsets tailored for budding 5G telecom networks.

IDC expected Apple to hit the market with 5G iPhones next year, and have an edge due to a better understanding of the market.

China accounts for about 17 percent of Apple sales overall, and has tremendous room for growth, according to Techsponential analyst Avi Greengart.

The trade war between the US and China has complicated Apple's effort to gain ground in that market, where gains by local titan Huawei have come partly at the California-based company's expense.

"Apple needs Chinese consumers to treat the iPhone as a preferred premium brand at a tricky geopolitical moment," Greengart said.

Along with its new iPhones, Apple is stepping up on content and services for its devices for its big media event Tuesday. Apple was expected to introduce three upgraded iPhones and a successor to its more affordable iPhone XR as it looks to hold its share of the premium smartphone market where prices are hovering around $1,000.

Along with its new iPhones, Apple is stepping up on content and services for its devices for its big media event Tuesday. Apple was expected to introduce three upgraded iPhones and a successor to its more affordable iPhone XR as it looks to hold its share of the premium smartphone market where prices are hovering around $1,000. But services, subscriptions and online content will likely share the stage with the company's glitzy hardware as Apple seeks to shift its focus away from a smartphone market which is showing little growth. "I think it is going to be the first year the event is going to also be about services," Creative Strategies analyst Carolina Milanesi said. "We might get to see what Apple looks like as a company when they are talking about services and hardware as one product." Richard Windsor of research firm Radio Free Mobile said Apple is coasting on the iPhone because of its strong quality but is not likely to see strong growth from either hardware or services. "There is not much upside because services revenue will take years to reach a scale where it can really move the needle company-wide," Windsor said. "Unfortunately, the market wants fireworks from Apple on cue every year meaning that no growth will dampen share price performance." TV+ turned on? Apple recently released a smartphone-generation credit card in the US and is keen to launch its TV+ streaming service before Disney goes live with a rival service in November. They unveiled streaming video plans along with news and game subscription offerings as part of an effort to shift its focus to digital content and services to break free of its reliance on iPhone sales. The company also plans to launch a new game subscription service called Apple Arcade by the end of this year. Apple managed to grow its overall revenues, albeit by a modest one percent, to $53.8 billion, even as iPhone revenues plunged nearly 12 percent in the April-June period. The company delivered strong growth from digital content and services that include its Apple Pay and Apple Music, along with wearables and accessories like the Apple Watch and Air Pods. Some of those accessories could also get upgrades on Tuesday. China wild card Analysts warn that Apple still faces challenges as rivals chip away at the smartphone market, in which the iPhone's share is less than 12 percent. As the iPhone maker refines its handsets, other makers are pushing into new areas such as 5G devices and folding smartphones. Wedbush Securities analyst Dan Ives said in a note to investors that he expected a "trifecta of iPhone 11s" that will help the company "put a fence around" its user base. About a third of the 900 million iPhone users around the world are in an upgrade "window," meaning a strong potential for handset sales, according to Ives. "While China remains a wild card, we are bullish into Apple's future" in the coming year, Ives said. International Data Corporation (IDC) forecast that this will remain a challenging year for iPhone sales, mostly due to a mature market and lack of handsets tailored for budding 5G telecom networks. IDC expected Apple to hit the market with 5G iPhones next year, and have an edge due to a better understanding of the market. China accounts for about 17 percent of Apple sales overall, and has tremendous room for growth, according to Techsponential analyst Avi Greengart. The trade war between the US and China has complicated Apple's effort to gain ground in that market, where gains by local titan Huawei have come partly at the California-based company's expense. "Apple needs Chinese consumers to treat the iPhone as a preferred premium brand at a tricky geopolitical moment," Greengart said.

New iPhones to share limelight as Apple revs up services

Apple Inc on Friday said it is cancelling the AirPower wireless charging mat that the company announced in 2017 on the same day as its iPhone X, a rare public retreat for the gadget maker known for splashy product launches.

The mat was intended to wirelessly charge up to three Apple products at once, such as an iPhone, Apple Watch and AirPods wireless headphones.

While wireless charging has spread through the gadget industry, charging three devices at once with higher wattage "fast charging" has proved challenging. Furniture seller Ikea, for example, sells a $60 matt that can handle three phones but it only features slower 5-watt charging.

In a statement, Apple said that it had concluded that its AirPower mat "will not achieve our high standards."

"We apologise to those customers who were looking forward to this launch," Dan Riccio, Apple’s senior vice president of Hardware Engineering, said in the statement. "We continue to believe that the future is wireless and are committed to push the wireless experience forward."

The announcement was a rare move for Apple, known in the electronics industry for keeping tight wraps on product plans until it publicly launches them at splashy events in Silicon Valley. The early announcement of AirPower, along with a wirelessly charged version of its AirPods headphones, was a break in that tradition. Apple released the updated AirPods last week, heightening speculation that the accompanying charging mat would come soon.

Daring Fireball, a website that covers Apple news, previously reported that Apple engineers had issues with devices overheating on the AirPower pad. Apple declined to comment beyond its statement on the project.

Apple offered wireless charging in the iPhone in 2017, after many of its rivals such as Samsung Electronics Co Ltd had offered the feature for several years. While rumours circulated that Apple might create its own unique wireless charging technology, the company instead chose to use a system that works with Qi, an open industry standard already in use by Samsung and others.

Apple shares did not move on the news, and shares of NXP Semiconductors and STMicroelectronics, two major suppliers of chips used in Qi systems, appeared to be unaffected also.

Apple Inc on Friday said it is cancelling the AirPower wireless charging mat that the company announced in 2017 on the same day as its iPhone X, a rare public retreat for the gadget maker known for splashy product launches.

Apple Inc on Friday said it is cancelling the AirPower wireless charging mat that the company announced in 2017 on the same day as its iPhone X, a rare public retreat for the gadget maker known for splashy product launches. The mat was intended to wirelessly charge up to three Apple products at once, such as an iPhone, Apple Watch and AirPods wireless headphones. While wireless charging has spread through the gadget industry, charging three devices at once with higher wattage "fast charging" has proved challenging. Furniture seller Ikea, for example, sells a $60 matt that can handle three phones but it only features slower 5-watt charging. In a statement, Apple said that it had concluded that its AirPower mat "will not achieve our high standards." "We apologise to those customers who were looking forward to this launch," Dan Riccio, Apple’s senior vice president of Hardware Engineering, said in the statement. "We continue to believe that the future is wireless and are committed to push the wireless experience forward." The announcement was a rare move for Apple, known in the electronics industry for keeping tight wraps on product plans until it publicly launches them at splashy events in Silicon Valley. The early announcement of AirPower, along with a wirelessly charged version of its AirPods headphones, was a break in that tradition. Apple released the updated AirPods last week, heightening speculation that the accompanying charging mat would come soon. Daring Fireball, a website that covers Apple news, previously reported that Apple engineers had issues with devices overheating on the AirPower pad. Apple declined to comment beyond its statement on the project. Apple offered wireless charging in the iPhone in 2017, after many of its rivals such as Samsung Electronics Co Ltd had offered the feature for several years. While rumours circulated that Apple might create its own unique wireless charging technology, the company instead chose to use a system that works with Qi, an open industry standard already in use by Samsung and others. Apple shares did not move on the news, and shares of NXP Semiconductors and STMicroelectronics, two major suppliers of chips used in Qi systems, appeared to be unaffected also.

Apple, in rare reversal, pulls plug on wireless charging mat

WION Speed News: Watch top international news of the day, January 4th, 2019

Wall Street edged higher on Wednesday after <a href="http://www.wionews.com/world/wall-street-starts-new-year-with-1-percent-slide-on-global-slowdown-jitters-187942">stumbling out of the starting gate on the first trading day of 2019</a>, while fears of a global economic slowdown were exacerbated after Apple cut its holiday-quarter revenue forecast.

Apple&nbsp;dropped 8 per cent in extended trading late in the day after the iPhone maker slashed its outlook for the December quarter, blaming weak demand in China.

Shares of Apple's suppliers also fell, and S&amp;P 500 futures&nbsp;dropped 1.3 per cent, signalling that Wednesday's modest advance could unwind when the market reopens on Thursday.

"To see Apple's sales drop off this much says something about the Chinese economy," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "Any company that does business in China will feel the impact of this."

Stocks had started the session lower after separate reports showed a deceleration in factory activity in China and the euro zone, indicating the ongoing trade dispute between the United States and China was taking a toll on global manufacturing.

Energy stocks led the S&amp;P 500's advance and the sector was the index's biggest percentage gainer, buoyed by a 2.4 per cent jump in crude prices. The group was the worst performing S&amp;P sector in 2018.

Gains were offset by healthcare&nbsp;and so-called defensive sectors, such as real estate, utilities&nbsp;and consumer staples. Healthcare companies provided the biggest drag on the S&amp;P 500 and the Dow.

The Dow Jones Industrial Average&nbsp;rose 18.78 points, or 0.08 per cent, to 23,346.24, the S&amp;P 500&nbsp;gained 3.18 points, or 0.13 per cent, to 2,510.03 and the Nasdaq Composite&nbsp;added 30.66 points, or 0.46 per cent, to 6,665.94.

Of the 11 major sectors in the S&amp;P 500, seven closed in positive territory.

Banks got a boost from Barclays, as the broker wrote in a research note that the sector could outperform the S&amp;P this year. The Dow Jones Industrial average was led higher with gains from Goldman Sachs&nbsp;and JPMorgan.

Tesla Inc&nbsp;delivered fewer-than-expected Model 3 sedans in the fourth quarter and cut US&nbsp;prices. The electric automaker's shares slid 6.8 per cent.

General Electric Co&nbsp;jumped 6.3 per cent in heavy trading as bargain hunters bought the stock in the wake of its over 50-per cent plunge in 2018.

In the coming weeks, the fourth-quarter reporting period will get underway. Analysts see S&amp;P 500 companies posting profit gains of 15.8 per cent, significantly smaller than the third quarter's 28.4 per cent advance.

Advancing issues outnumbered declining ones on the NYSE by a 2.10-to-1 ratio; on Nasdaq, a 2.42-to-1 ratio favoured advancers.

The S&amp;P 500 posted no new 52-week highs and 4 new lows; the Nasdaq Composite recorded 9 new highs and 58 new lows.

Volume on US&nbsp;exchanges was 7.80 billion shares, compared to the 9.18 billion average for the full session over the last 20 trading days.

Apple dropped 8 per cent in extended trading late in the day after the iPhone maker slashed its outlook for the December quarter, blaming weak demand in China.

Wall Street edged higher on Wednesday after stumbling out of the starting gate on the first trading day of 2019, while fears of a global economic slowdown were exacerbated after Apple cut its holiday-quarter revenue forecast. Apple dropped 8 per cent in extended trading late in the day after the iPhone maker slashed its outlook for the December quarter, blaming weak demand in China. Shares of Apple's suppliers also fell, and S&P 500 futures dropped 1.3 per cent, signalling that Wednesday's modest advance could unwind when the market reopens on Thursday. "To see Apple's sales drop off this much says something about the Chinese economy," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "Any company that does business in China will feel the impact of this." Stocks had started the session lower after separate reports showed a deceleration in factory activity in China and the euro zone, indicating the ongoing trade dispute between the United States and China was taking a toll on global manufacturing. Energy stocks led the S&P 500's advance and the sector was the index's biggest percentage gainer, buoyed by a 2.4 per cent jump in crude prices. The group was the worst performing S&P sector in 2018. Gains were offset by healthcare and so-called defensive sectors, such as real estate, utilities and consumer staples. Healthcare companies provided the biggest drag on the S&P 500 and the Dow. The Dow Jones Industrial Average rose 18.78 points, or 0.08 per cent, to 23,346.24, the S&P 500 gained 3.18 points, or 0.13 per cent, to 2,510.03 and the Nasdaq Composite added 30.66 points, or 0.46 per cent, to 6,665.94. Of the 11 major sectors in the S&P 500, seven closed in positive territory. Banks got a boost from Barclays, as the broker wrote in a research note that the sector could outperform the S&P this year. The Dow Jones Industrial average was led higher with gains from Goldman Sachs and JPMorgan. Tesla Inc delivered fewer-than-expected Model 3 sedans in the fourth quarter and cut US prices. The electric automaker's shares slid 6.8 per cent. General Electric Co jumped 6.3 per cent in heavy trading as bargain hunters bought the stock in the wake of its over 50-per cent plunge in 2018. In the coming weeks, the fourth-quarter reporting period will get underway. Analysts see S&P 500 companies posting profit gains of 15.8 per cent, significantly smaller than the third quarter's 28.4 per cent advance. Advancing issues outnumbered declining ones on the NYSE by a 2.10-to-1 ratio; on Nasdaq, a 2.42-to-1 ratio favoured advancers. The S&P 500 posted no new 52-week highs and 4 new lows; the Nasdaq Composite recorded 9 new highs and 58 new lows. Volume on US exchanges was 7.80 billion shares, compared to the 9.18 billion average for the full session over the last 20 trading days.

Wall Street ekes out gains, Apple cuts revenue forecast after the bell

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