JAPAN'S NIKKEI CLOSES ABOVE 33,000 FOR THE FIRST TIME SINCE 1990
Source: www.investing,.com
A new all-time-high for Apple
« Apple closes at record high in latest sign of Big Tech’s dominance. The stock rose 1.6% to $183.79 yesterday, bringing its year-to-date gain to 41%. This is Apple’s first closing high since January 2022. Stock nears a $3tn valuation following 2023’s surge” – source: Bloomberg, HolgerZ
Bitcoin miner Marathon Digital hit with another SEC subpoena
Marathon Digital announced on Wednesday that it has received a recent subpoena from the Securities & Exchange Commission (SEC), which is linked to an ongoing investigation into the company's data center located in Montana. The investigation focuses on possible breaches of securities laws. This new subpoena comes after Marathon Digital and a few of its executives were issued a related subpoena earlier in the quarter ending on September 30, 2021. The previous subpoena required them to produce records and communications pertaining to the facility located in Hardin, Montana. Source: Blockworks
Incredible: Amazon's AWS revenue over the last 12 months ($83 billion) was higher than the revenue of 460 companies in the S&P 500
From $3 billion to $83 billion in less than 10 years (>40% annualized growth). Source: Charlie Bilello
Apple ($AAPL) is in a league of its own
With a market cap of $2.6 Trillion, Apple is $500 Billion bigger than Microsoft. It's bigger than the GDP of - South Korea, Canada, Russia, Brazil and Italy. $AAPL is up +305% over the last 5 years. Source: Oktay Kavrak, Leveraged Shares
Tesla net income and earnings drop more than 20% from last year
Tesla’s Q1 2023 revenues and profits came in very close to expectations, based on a survey of analysts from Refinitiv. Tesla specified in a shareholder deck that “underutilization of new factories” stressed margins, along with higher raw material, commodity, logistics and warranty costs, and lower revenue from environmental credits, all contributing to the drop in earnings from last year. Shares in electric vehicle maker Tesla dropped more than 4% after the company reported first-quarter earnings after the bell. Here are the results. $TSLA Tesla Q1 FY23: • Revenue +24% Y/Y to $23.3B ($60M miss). • Gross margin 19% (-10pp Y/Y). • Operating margin 11% (-8pp Y/Y). • Capex +17% Y/Y to $2.1B. • Free cash flow -80% Y/Y to $0.4B. • Non-GAAP EPS $0.85 (in-line). • Deliveries +36% Y/Y to 422,875. Source: App Economy Insights, CNBC
Concentration Alert! A handful of tech stocks are responsible for a large portion of stock market returns lately
Mega-cap tech stocks like Apple, Microsoft, Amazon, and Alphabet are driving the rally, so far in 2023. Source: Genuine Impact
Short squeze 2.0?
Hedge Funds are still massively short. This could lead to another massive short squeeze. Source chart: Alessio Urban, Goldman Sachs
