Apple’s Revenues Dipped Again in Q4 FY23 in the Worst Streak in 22 Years
Apple’s revenues declined for fourth straight quarter, despite solid iPhone sales, marking the longest slump since 2001
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Apple’s revenues declined for fourth straight quarter, despite solid iPhone sales, marking the longest slump since 2001
Watch today’s US Open for insights the two consecutive rate holds by the Bank of England and the US Fed, AMD’s return to revenue growth, key incoming events and more
Yesterday, the Federal Reserve kept interest rates on hold for a second consecutive meeting. Chair Powell recognised that inflation is slowing as opposed to emphasising how strong growth has been. Whilst keeping the door open for further hikes, there is a strong possibility that this rate hiking cycle has peaked. As such, the real yield dropped yesterday by 7.5% to close at 2.32%. It has dropped further today and is…
The tech heavy index rallied on Wednesday after the Fed kept rates unchanged and was more dovish than previously, but now awaits Apple’s earnings and the jobs report
The chip designer posted strong top and bottom lines and expects and believes its Artificial intelligence GPUs will start bearing fruit from Q4 onwards
Watch today’s US Open for insights on the new YCC tweak by the Bank of Japan, the further deceleration of price pressures in Eurozone, key incoming events and more
Tesla dropped by 4.79% yesterday to close at $197.36. The catalyst was a disappointing forecast from automotive chip maker ON Semiconductor, which said Q4 sales will be around $2bn, short of Wall Street’s expectations of $2.2bn.
The index closed last week in correction territory, as the quarterly results by tech giants were not enough to outweigh elevated yields, Fed risks and Middle East jitters, but rebounds today ahead of the Fed
Apple announces its Q4 FY2024 on Thursday November 2, in a challenging period for its business and the stock, which breaches key technical levels after a losing quarter
The SPX500 has charted a series of lower peaks followed by lower troughs on its weekly chart. This puts the weekly into a defined downtrend. Importantly, the down trend’s trendline has shifted down from the green trendline to the orange trendline. This indicates that the downtrend is accelerating. It is not surprising to see the weekly RSI on the bearish side of 50 (green rectangle). The longer it maintains below…
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