Apple turnover, anyone? Tech giant experiences a roller coaster week
It’s been another whirlwind week for the tech giant. Whatever you’ve been up to, you can’t possibly have missed Apple’s conference last week. As per usual, the company has been on the tip of most people’s tongues, but could things turn a little sour in the not too distant future? In this week’s article, we’re taking a bite out of all-things-Apple.
Apple (AAPL) was back to being a $1 Trillion company at the back-end of last week, thanks to a super few days that saw a very positive reaction from the markets. The Cupertino based company’s shares jumped over 5%, as traders seemed pretty chipper about the latest iPhones and Apple TV+ streaming plans. Go further back and shares were up 8% in the past month. Not a bad return, eh?
Sour Apples on the horizon?
Well, everything looked really good until Friday, when Goldman Sachs slashed their price target on Apple from $187 to $165 per share, due to concerns that the free trial offered for the Apple TV+ offering will eat into its bottom line. Goldman analyst Rod Hall, stated that the free trial period would “likely result in lower up front and margins”, which could hurt the group’s gross profit and earnings per share in the coming year.
All the BIG stuff coming up this week
There’s a truck-load of information out there and it’s quite common to read something pretty solid one minute and then find something completely contradictory the next. But hey, don’t panic! That’s where Contentworks comes in. We do all the hard work, so you don’t have to. So, here are all of the tip-top happenings that should be on your radar this week…
● AUD traders should strap themselves in for Tuesday’s RBA Meeting Minutes, which is basically a wrap-up/full account of the previous interest rate decision from two weeks ago.
● Wednesday is for you USD traders — don’t miss the FOMC projections and the Fed’s Monetary Policy Statement. Depending on how it goes, the statement may influence the volatility of USD and has been known to determine a short-term positive or negative trend.
● Thursday is all about the UK’s Bank of England report. Loads of crucial information for the UK economy — concerning things like interest rates and inflation — will come in a really nice little bundle on Thursday morning. With everything going on (and on, and on!) in the UK at the moment, GBP or FTSE traders definitely don’t want to miss this.
● CAD traders will have their keen eyes on Statistics Canada’s Retail Sales (MoM) announcement — a key indicator of consumer confidence.
Did you enjoy this read? Perhaps your traders or investors would be interested, too? Fortunately, Contentworks is ready and waiting, whenever you want to get in touch with us. We’re capable of helping you with all kinds of content and would be delighted to sort out a tailored plan just for you.
The Contentworks Team