Apple’s market cap falls under $2 trillion as sell-off continues (2 min read)
Apple shares fell another 3.74% on Tuesday to a 52-week low, bringing its market cap below $2 trillion for the first time since 2020. The company has struggled with iPhone 14 Pro shipments during the holiday season due to zero-Covid lockdowns at its main factory in China. A recent report shows that Apple’s iPhone shipments declined 22% in December alone. Investors are also concerned that rising rates and declining consumer confidence will impact the demand for Apple’s products.
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Tesla’s shares plunge further on weaker than expected sales (2 min read)
Tesla delivered a weaker than expected global sales report which sent its stocks plunging more than 12%, continuing the massive slide in share prices from last year. Although Tesla had record sales in 2022, it was still lower than the growth rate set by the company. Q4 sales specifically were far below analysts’ estimates. The shortfall raised concerns about weakening demand for Tesla vehicles amid numerous headwinds such as higher interest rates, increased EV competition, and backlash against Elon Musk.
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‘Big Short’ investor Michael Burry warns ‘another inflation spike’ is coming (3 min read)
Michael Burry warned that a recession is already underway and another spike in inflation is likely to come. Michael is one of the prominent figures in the past year that have been predicting the rising risk of an economic downturn. His latest prediction suggested that although inflation has cooled down in recent months, it will surge again whenever the Fed decides to cut interest rates. He also argued that the current condition in the US is worse than the crisis in 2008.
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Wall St starts the year with a dip; Apple, Tesla shares drag (4 min read)
All three major US indexes closed lower on the first trading day of 2023 with Tesla and Apple stocks being one of the biggest drags. Among the S&P 500’s 11 major sectors, energy had the biggest loss for the day as oil prices fell due to bleak business activities from China. US economic data coming this week includes the ISM manufacturing report and December's job report which investors hope will indicate signs of labor market weakening.
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Best Performing Dividend ETFs of 2022 (6 min read)
The S&P 500 slid about 18% in 2022, but if your portfolio was tilted towards dividend stocks then it wouldn’t be nearly as bad. Dividend ETFs did a great job limiting the downside last year where most on average were flat and some were even in the positives. Although it might not be the most appealing category, they are still a great way to build long-term growth. This article discussed the top 30 best performing dividend ETFs of 2022 and how their strategies differ.
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ETF Launches Slowed in 2022 for First Time in 3 years (2 min read)
The number of ETF launches in the US slowed in 2022 with about 9.6% fewer than the previous year. Roughly 63% of the new ETFs were actively managed which was inline with the breakdowns from the last few years. New concepts that emerged for the first time include “night effect” ETFs, single-stock ETFs and EV battery materials ETFs. Several mutual fund giants also entered the ETF space such as Capital Group, Neuberger Berman and DoubleLine.
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That's it for today! You can reply to this email if you have any comments or feedback.
Thanks,
Thomas
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