Thanks to gathering storm clouds, speculators, mainly hedge funds, are now the most negative on US equities they have been since November 2011. The International Monetary Fund (IMF) has warned that thanks to higher interest rates and tensions between the US and China, their outlook for global growth over the next 5 years is the weakest it has been for more than 3 decades. It’s not just in the US where the economic and corporate earnings outlook is bleak. The weakness in demand for tech hardware has led to an inventory buildup across the tech supply chain and, as a result, semiconductor and related tech companies issued multiple profit warnings over the last quarter.
#Sidekick for mac outlook mac
This is the worst decline in Apple Mac demand since the dotcom bust back in 2000. Apple, the most valuable company in the world, saw demand for its Mac’s fall more than 40% compared to last year.
Demand has now fallen below the units shipped in the first quarter of 2019, before the pandemic and hybrid working boosted demand for PCs. In the first quarter of 2023, demand for personal computers fell 29% compared to the same period last year. We are seeing more warning signs of an increasing likelihood of deteriorating corporate earnings. Analysts estimate that upcoming quarterly earnings will fall by almost 7% compared to a year ago. US corporate earnings are now expected to fall by the most since the covid pandemic. According to Factset, a financial data provider, analysts are rapidly revising down their expectations. High inflation and weak demand is putting pressure on corporate profitability. It represents Sidekick’s view only and does not represent investment advice - investors should not take decisions to trade based on this information. It’s important to note that the content of this Market Pulse is based on current public information which we consider to be reliable and accurate. Click here to listen on your favourite podcast platform.
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