Apple will make 6 million fewer iPhone Pros

Apple will make 6 million fewer iPhone Pros

In today’s top stories, we look at the unrest at Apple’s biggest iPhone factory in China, which companies benefited from Black Friday sales and the impact of stagflation on stocks this period of the year. Bank of America analysts share their top 10 deals for 2023, and Richard Bernstein Advisors looks outside the US for alpha.

Apple’s troubles in China

Discontent over harsh lockdown measures turned into violent protest against Apple [AAPL] Foxconn suppliers [2354.TW] Zhengzhou factory. Zhengzhou is the worlds biggest iPhone factory, and the unrest is costing Apple about $1 billion a week in lost iPhone sales ahead of the crucial Black Friday weekend. Forecasts now suggest that the iPhone Pro unit production shortfall could now total 6 million. AppleShares of S fell 2.0% on Friday.

Bank of America’s Top 10 Deals of 2023

30-year US Treasuries top Bank of America analystslist of top 10 jobs for 2023. Michael Hartnettthe team also predicts a steeper curve as the recession begins and markets anticipate the Fed moving from hikes to cuts” and say traders should act accordingly. The team is short on tech stocks and the USD, and long on China, the European banks, gold and global industrialists.

Stagflation weighs on expected stock market rally

Investors are waiting to see if the traditional year-end stock rally will outweigh negative macro factors this year, with much of it on the U.S. Federal Reserves December tariff decision. With the Dow Jones poised to exit its bear market, having risen nearly 20% since late September, fears of stagflation are weighing heavily on investor sentiment. A rise of 0.5% is expected in December, which would be a lower rise than that seen earlier this year and would encourage investors.

Black Friday shoppers flock to Walmart

Captify data suggests that Walmart has overtaken Amazon as the top destination for Black Friday discount shopping this year. Searches for Walmart products on Black Friday jumped 386% year over year. Adobe data suggests consumers spent a record $9.12 billion online this year, a 2.33% year-over-year increase. Buy now, pay later Businesses also saw an increase in activity, with these types of payments up 78% from the previous week and 81% year-over-year. AmazonThe stock price fell 0.78% in total last week.

Look beyond the United States

Investment management firm Richard Bernstein Advisors (RBA) highlighted the strength of the investment opportunities available outside the United States. An RBA research note highlighted the UK as an attractive avenue for investors, the UKs stock market outperforming the S&P 500 and Nasdaq Composite despite recent political turmoil. Other countries with little exposure to technology, consumer discretionary and communication are also favored.

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