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TECHNOLOGYApple’s Big Losses: Would Tesla Acquisition Stop The Bleeding?ALISSA WILLIAMS5:10 PM ETClick to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to email this to a friend (Opens in new window)Click to print (Opens in new window)Reprints00:06 02:03Apple (AAPL) ended eight straight sessions of losses in the stock market today. It’s been the stock’s worst losing streak in nearly two decades, sparked by the tech giant’s weak quarterly results, including its first-ever decline in iPhone sales.In those eight days, the stock lost nearly 13% of its value. And in the last 12 sessions, Apple has dropped 16.5%.Apple shares closed up 1.65% in above-average volume Tuesday. In Monday’s session, the stock came within 40 cents of its August low in intraday trade before paring its losses. Apple is now 28% below its 52-week high.Apple CEO Tim Cook appeared on CNBC’s “Mad Money” Monday evening to try to stop the bleeding. Cook briefly talked about the company’s acquisitive nature. But the company has not made a big acquisition in a while.Some experts say Apple should buy Tesla Motors (TSLA), as it continues to invest more in its top-secret car project, dubbed Project Titan.Tesla Motors reports quarterly results after the close on Wednesday. Analysts expect the luxury electric car maker’s per-share loss to widen to 57 cents, amid production and Gigafactory investments. Revenue is projected to jump 45% to nearly $1.6 billion. That marks a third straight quarter of faster top-line growth as it ramps up production of the Model X crossover.Tesla fell 3.6% in above-average trade and is nearing its 50-day and 200-day lines. Tesla is back below a 239.98 buy point it initially cleared several weeks ago, and is trading 18% below its 52-week high.Meanwhile, Alphabet (GOOGL)-owned Google and Fiat Chrysler (FCAU) confirmed they are collaborating on developing self-driving technology in what’s expected to be the first phase of a joint effort to create autonomous cars.Alphabet is trading below its 200-day line in the wake of a disappointing earnings reports. Alphabet is 12% below its February high, falling 0.5% Tuesday.Fiat Chrysler, which reported U.S. April sales on Tuesday, closed down 3% but rose 2.6% after hours.
