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Macro overview of the current week

Macro overview of the current week

8 February 2023

Apple: what a “surprise”

One of the largest US companies, Apple, has released a quarterly report, and few people liked its content.

Apple has reported the first quarterly decline in revenue since 2019.

At the same time, the services segment set a record for revenue.

At the device level, sales fell among smartphones, computers and home gadgets.

On Thursday, the shares rose by 3.7% in the main session, and fell by 3.2% in the postmarket.

Recession risks are decreasing – that’s what assets “say”

JP Morgan has built an investment model in which nine asset classes estimate the probability of a recession at less than 50%.

Back in October 2022, the indicator reflected a risk of 85-100%.

The assets include investment-grade bonds and shares of European companies.

Interestingly, now that investors see a lower probability of a recession, economists are betting on a bigger one.

8 February 2023
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