Two Tech Giants Compete For Top-Earning Company

Apple is astounding many people on Wall Street with major earnings this week. Coming off the heals of their latest product, the iPhone X, Apple earned huge amounts of capital and even bought back lots of stock. Apple is now projected to swiftly climb to a $2 Trillion valuation. CEO Tim Cook teased a new entertainment product that may make Netflix a thing of the past.

Apple was heavily criticized earlier this year for the price of the new iPhone. But things turned out in their favor, as customers did not switch over to competitors such as Samsung or LG as some predicted and opted to pay more to continue to use Apple. Cook also noted that Apple Pay processes more monetary transactions than PayPal recently, showing the wide variety of services that Apple remains a top competitor in.

On the contrary, Tesla is expected to report a major loss in earnings at the close of the market today. This is more bad news for investors, many of whom were passionate about the businesses success. The company has had lots of trouble recently having reported several losses this year. Elon Musk has many eyes on him wondering what his next move will be for the electric car company. In other news around the market, Farmers are already pulling back on purchasing capital equipment due to new tariffs, and property prices are leveling out in San Francisco.