Here’s everything you need to know to start your day:
Apple’s Amazing Earnings Day
After a few quarters of lackluster sales, Apple ($AAPL) stock shot up yesterday after announcing record sales of the new iPhone. The company took a risk late last year by releasing an iPhone without a headphone jack, a much-used component. Fortunately for the California tech giant, people will buy pretty much anything they put out, regardless of whether or not they remove once-key features.
Unfortunately, one trader allegedly bet his entire life savings against the company, assuming Apple’s stock would go down. He was dead wrong.
Facebook Earnings Call Today
Facebook ($FB) will report their earnings later today. The company’s reputation has suffered in the last few months after the election and proven allegations of a “fake news” problem. It will be interesting to see if such a problem cut into their bottom line.
Coach Takes a Big Bet…And Wins
Coach ($COH), the accessory company known for their pricey purses, increased the prices of their goods a few years ago. After suffering losses due to slightly lower-priced purses offered by competitors, the company targeted their purses to wealthier customers. They also removed their purses from department stores to avoid “watering down” their luxury brand. Moneyed customers welcomed the idea of paying more for a handbag with open arms. Now, Coach sales (and stock) are up. Head over to Fortune to learn about Coach’s new rise in popularity.