Shares of Apple (NASDAQ:AAPL) surged nearly 1.6% in morning trading Thursday, leading the daily gains of its “FANG” peers as investors continue to pile back into Wall Street’s dominant tech stocks shortly after the recent sell-off threatened to slow the sector down.
Apple is moving higher after a new reports suggested that the tech behemoth is preparing to update its wireless AirPods headphones. Citing people familiar with the matter, Bloomberg said that Apple is looking to bolster its wearables business with a new version of the AirPods that will feature an upgraded wireless chip and advanced Siri integration.
The upgraded AirPods are apparently coming as early as this year. Bloomberg also reported that Apple is working on follow-up version that will include water resistance and could be released as early as 2019.
Apple first debuted the AirPods alongside the iPhone 7 in 2016. Users will remember the iPhone 7 as the first version of Apple’s flagship smartphone to not include a standard headphone jack, and the AirPods were originally presented as a way to replace that traditional feature.
Apple shares are now up more than 2% over the last five trading days, moving the company back into the green on the year.
Elsewhere, Apple’s “FANG” peers—Facebook (NASDAQ:FB) , Netflix (NASDAQ:NFLX) , and Alphabet (NASDAQ:GOOGL) —were also flirting with the green during Thursday morning trading. The recent sell-off affected each of these stocks in different ways, but it does appear that volatility has returned to these previously-untouchable tech investments.
Facebook has been making the biggest headlines recently, thanks in large part to the negative attention it has received from its handling of Russian propaganda trolls that infiltrated its social media platforms during the 2016 U.S. elections. Last week, Special Counsel Robert Mueller indicted 13 Russian nationals associated with a Russia-based troll farm that advertised on Facebook throughout the campaign cycle.
Nevertheless, Facebook shook some of that flak this week when it announced a new licensing deal with pan-European digital rights hub ICE. The “landmark” agreement has sparked new rumors that Facebook is working to build its own music streaming service after inking similar deals with Universal and Sony over the past few months (also read: Is Facebook Launching a Music Streaming Service?).
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Netflix, Inc. (NFLX): Free Stock Analysis Report
Facebook, Inc. (FB): Free Stock Analysis Report
Alphabet Inc. (GOOGL): Free Stock Analysis Report
Apple Inc. (AAPL): Free Stock Analysis Report
Original post
Zacks Investment Research