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Fed Aftermath
Apple, Amazon, Microsoft and Google have all been crushed post earnings. Apple is the ‘best’ performer – down approx 13% the past two weeks. What’s next for large cap tech? I see more downside… and this post explains why.
Powell: ‘A Long Way to Go’
No pause. No pivot. It’s enough to make “doves cry”. However, Fed said there will be a time when they will slow down rate hikes. But we’re not there yet… expect rates to be higher than previously expected.
More Tricks than Treats?
The market is up around 11% from its recent lows. Its rallying on the hope of a dovish Fed. My advice is tread carefully… you might get ‘tricked’ rather than ‘treated’ this Halloween. The upside does not handily outweigh the downside risks. Bear markets are known to do just that…
We’ve Seen This Script Before
Q3 2022 big-tech earnings are behind us – with only one winner. Apple reported inline results with weak guidance – but enough to send the stock 7% higher. The rest however were slaughtered on weak earnings and forward guidance. But it was the Facebook’s “metacurse” which sent the stock reeling almost 30%… Amazon was also crushed on a poor Q4 outlook.