Apple: the money tree withers?
Apple shocked investors in the first week of the year, predicting that its sales for the first quarter would be down 7-8% from what it had previously expected. Its comments, particularly on China, were widely picked up by the financial press, with investors taking it as confirmation of slowing global growth and a deteriorating outlook for the global economy.
Dealers' Early Call
The FTSE 100 is called to open 34 points lower at 6828. The rally in risk assets faded on Thursday, with Asian stock indexes trading mixed and the yen recovering, as concerns about rising U.S.-China tensions offset signs of a betterthan- expected start to the earnings season. The dollar and Treasuries steadied. While shares rose in Japan, gains fizzled in Hong Kong and hina, and U.S. and European futures declined. News of U.S. prosecutors investigating Huawei Technologies for allegedly stealing trade secrets weighed on sentiment despite strong profits at Goldman Sachs and Bank of America that buoyed the S&P 500 Index Wednesday. The pound was steady after Prime Minister Theresa May’s government won a no-confidence vote, as widely expected.
Welcome to the Experience Economy
Twenty years ago, two professors argued that the US was entering a new stage of development. In ‘Welcome to the Experience Economy’, Joseph Pine and James Gilmore argued for a fourth stage in the economy’s evolution, and that ‘from now on, leading-edge companies…will find that the competitive battleground lies in staging experiences.’