1. Tesla
Tesla Inc (NASDAQ:) stock will remain in the spotlight after the CEO and co-founder Elon Musk said in an email to employees that it’s time for the electric carmaker to tighten the belt and get ready for a rough ride.
Tesla plans to cut staff by around 10%, according to an email cited by Reuters in which Musk noted that he had a “super bad feeling” about the economy. The email, titled “pause all hiring worldwide,” was sent to Tesla executives on Thursday, according to the .
Tesla shares shed almost 9% after the report, showing investors’ concerns about the carmaker’s growth plans for this year. Tesla stock closed on Friday at $703.55.
Tesla had been navigating global supply-chain disruptions and the pandemic-related lockdowns in China much better than other producers. It reported record global sales volume in its most when Musk also predicted “substantially higher” growth later this year.
2. Apple
Apple (NASDAQ:) will likely announce significant changes to the iPad’s software next week at its annual Worldwide Developers Conference, starting from Monday, June 6. The biggest change, according to media reports, will be in the iPad’s software that will transform the device more into a laptop.
The new updates are the biggest Apple software announcement of the year and set the public strategy for Apple’s platform over the next 12 months. For example, iOS 16, as Apple is expected to call the new software for iPhones and iPads, could include improved notifications, a redesigned lock screen, and updates to the Messages and Health apps, according to Bloomberg News.
New features and updates may create some excitement around Apple shares, which have fallen more than 18% this year amid the widespread sell-off in technology stocks.
Investors consider Apple a safe-haven play due to its vast global market share in the cellphone market, its long-term track record of profitability, and its ability to constantly innovate. Its shares closed on Friday at $145.38.
3. DocuSign
The e-signature platform, DocuSign (NASDAQ:) is scheduled to report its fiscal 2023, first quarter earnings after the market closes on Thursday, June 9. Analysts see $0.56 a share profit on sales of $683 million.
The San Francisco-based application software business experienced explosive growth for its digital services during the past two years, as the shift to remote work and social distancing prompted companies to seek digital signatures from workers, customers and clients working from home, as they managed their contracts and crucial documents electronically.
However, now signs are emerging that the company’s growth has already peaked. In March, DocuSign provided disappointing revenue guidance for the full year. The company expected the current fiscal year revenue to range between $2.47 billion and $2.48 billion, well below a StreetAccount forecast of $2.61 billion.
DocuSign shares, which are down 45% this year, closed on Friday at $83.78.
