Lockdowns are in place again in Shenzhen, China, after a new outbreak of Covid-19 cases. Consequently, Foxconn has had to pause operations in the city, and this could impact the production of Apple (AAPL) products. The Shenzhen & Guanlan factories account for ~25% of Foxconn’s total production capacity, where the manufacturing of iPhones, PCs/notebooks, networking, and other parts also takes place. Morgan Stanley’s Katy Huberty estimates Apple’s exposure to Shenzhen is “less than 20% of producti
(Bloomberg) — The debut of Apple Inc.’s latest iPhone brings a change to the way its U.S. customers can purchase the device, a move toward cutting wireless carriers out of the process and giving the tech giant more control.Most Read from BloombergUkraine Update: Mariupol Officials Claim Forced DeportationsRussia Says It Used Hypersonic ‘Kinzhal’ Missiles to AttackBiden Warned Xi of ‘Consequences’ for Backing Russia in WarBiden Team Hardens View of China Tilting to Putin on UkraineUkraine Update
The Federal Reserve this week increased the federal funds rate for the first time since 2018. Long-term market interest rates had risen significantly as investors anticipated that the central bank would begin winding down its bond portfolio, with a policy announcement coming as early as May, according to Federal Reserve Chairman Jerome Powell. The big question is whether the Fed can bring down inflation from the highest level in 40 years to its target of 2% without causing a recession.
The Wall Street Journal
During the Super Bowl in February, one ad grabbed a lot of attention: a mysterious bouncing QR code that enticed viewers to point their phones at their screens and click through to an unknown website. The incident illustrated just how willing people are to click on QR codes, but unfortunately for consumers, marketers aren’t the only group that understands this. Two months before, in December, a much darker scenario involving QR codes unfolded when malicious actors placed QR-code stickers on parking meters in major Texas cities, directing drivers to a fraudulent website where they supposedly could pay for parking.
LONDON (Reuters) -British American Tobacco Plc is in advanced talks to transfer its Russian business to Russia’s SNS Group of Companies, its distributor, SNS said, after Moscow suggested it could nationalise assets of foreign firms that left the country. Many international firms with investments or operations in Russia have withdrawn since Moscow launched its invasion of Ukraine on Feb. 24 and the West imposed sweeping sanctions. BAT, which makes Pall Mall and Rothman’s cigarettes, controls just under 25% of the Russian tobacco market.
The stock market sprinted higher on Friday afternoon, reversing its losses from earlier in the day and capping off a week in which investors were eager to buy up beaten-down stocks. For the week, the Dow, the S&P 500, and the Nasdaq posted gains of 5.5%, 6.2%, and 8.2%, respectively. The S&P 500 rose 6.9% from Monday’s close—when the index was in correction territory—to Friday’s close, as news on the Russia-Ukraine war pointed toward diplomatic progress and markets digested that the Federal Reserve will raise interest rates several times this year to stave off hot inflation.
Warren Buffett’s long-term outlook on investments proved successful once again this week when Berkshire Hathaway (NYSE: BRK-A) shares closed above $500,000. If there’s one thing that’s made Buffett one of the most successful investors in history, it’s his commitment to his strategy. A countless number of new investment techniques and algorithms have come and gone over the years, but Buffett has maintained his fairly simple strategy of picking solid companies and focusing on long-term growth whil
Sorry, everyone, but Real Money Columnist Paul Price has a bit of tough love headed your way. “The little guy,” he wrote recently, “is almost always wrong. When they yank money out of equities you should be doing the opposite.
High-flying growth stocks like Bionano Genomics (NASDAQ: BNGO) tend to be controversial among different crowds of investors. In my view, the biggest point in favor of investing in Bionano Genomics is that its business model will lead to a huge amount of recurring income over time, thereby leading to a virtuous cycle in which it can afford to funnel more and more money into developing new products. Bionano makes a genome-mapping instrument called the Saphyr, which is specialized in detecting major structural variations in chromosomes, such as large insertions or deletions and translocations.
- Bill Gross warns Fed rate rises will ‘crack the US economy’
- Weekend reads: There’s a recession warning as the Federal Reserve fights inflation