Wednesday Market Update – Apple (NASDAQ:AAPL)

Good Morning Everyone!

Eggs prices in the U.S. are down 50% since peaking in December 2022.

Prices as of 4 pm EST, 2/7/23; % YTD


Jay Powell

  • Goods inflation coming down with shortages and supply chains easing

  • Focus shifting to ‘super-core services inflation’, basically services inflation less housing

  • That metric tends to have a high influence from wages

  • With the strong employment Report we just saw, this has to be a concern for Powell

Market reaction to Powell

  • Stocks down then up, 2% swing

  • Bond yields up but back down this morning

Next two Fed meetings

Crude $78 +1%

Microsoft MSFT

Google GOOGL

Apple AAPL




  • Vertex VTNR flat Q4 inline revenues

  • Chipotle CMG -5% top and bottom line miss, delivery down 15%

  • Fortinet FTNT +14% Q4 better than expected, guide also better

  • Prudential PRU +1% miss in the qtr, buyback below street

  • CVS Health CVS +2% Quarter was fine but focus on the deal with Oak Street Health

  • Uber UBER +7% Q4 in-line, guide is better than feared

  • Emerson EMR -3% revenues inline, EPS below street


AI-focused crypto

Death cross

  • Bitcoin’s BTC/USD weekly 50MA has never crossed below 200MA (ever)

  • Looks unlikely to stay that way

  • Bitcoin just saw “golden cross” on daily chart


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