
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
An all-out trade conflict could provoke a 30% dip in equities of EU makers of luxury products, as UBS informed.
Such a sag would occur in a worst-case scenario, which would include a 1% sink in gross domestic product surge worldwide, and a double-digit reduction in per-share profits in the sector. Apparently, the outlook showed up as luxury equities are currently trading at a premium, dropping a hint that market participants haven’t mostly priced in trade-related hazards.
China and America are still locked in a trade conflict. Donald Trump recently threatened to slap duties on all products imported from China that could amount to about $500 billion. China and America appear to be major markets for luxury products because they account for approximately 55% of sales.
There’s a 10% ascend in organic sales of luxury products now, with 35% of transactions in China. Some market experts are assured that in a worst-case trade conflict scenario, surge in organic sales would speed down to nearly 2% next year and per-share profits would sink about 12%. Additionally, global GDP surge would be cut from 4% to 3%, while global equity markets would sink by more than 20%.
The equities of European luxury companies generally dived nearly 24% in 2018.
The equities of Swiss watch maker Swatch Group AG UHR headed south 0.62%. As for UK clothing and accessories maker Burberry Group PLC BRBY, it rallied up to 0.57%, while Italian shoes and handbags and designer Salvatore Ferragamo SpA SFER lost 0.98%.
Meanwhile, Swatch boasts 70% of sales in the wholesale market. The given fact provokes greater volatility from restocking/destocking cycles.
In addition to this, forecasts as for such brands as Ferragamo and Burberry are high because market participants foresee further sales surge as well as margin expansion.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
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