Overview of TOP weekly news 30.3.2022

30 / 03 / 2022
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Apple will cut iPhone and AirPods output

Growing inflation and the Ukraine crisis caused the demand slowdown of Apple’s iPhone and AirPods, so the company decided to lower the production. Their plan for now is that they will produce 20% less of iPhone SE – 2 to 3 million devices less as it was originally planned. In the report it is also shown that orders for AirPods were reduced for 2022 by more than 10 million units. Analysts are warning, that China’s lockdown, inflation and war in Ukraine might have negative effect on smartphone demand.

Meta suspends plans for the Dutch data centre

Facebook owner, Meta, announced that they are suspending plans to build a giant data centre in Netherlands and the decision was followed by political opposition. This news came out a week after the Dutch Senate passed a motion asking Prime Minister government to use its power and temporarily block construction of the site, which was intended to be located 50 kilometres from Amsterdam. The town approved plans in December, and they would create 400 permanent job positions.

Coinbase rising

After the disastrous IPO let’s say, Coinbase finally sees some bright point, as the price of stocks started to grow on news, that they might buy Brazil’s crypto unicorn 2TM. Only on speculation and when talks are in motion, the stock went up for 6% on Monday. *  Negotiations have been reportedly in motion since last year, and the agreement could be announced later in April. 2TM would give Coinbase a very much needed leverage to secure leading position in Latin America. [1]

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Movement of Coinbase since entering the market in 2021. (Source: Trading Economics)

 U.S. approves second booster shot

Health officials from America authorized a second Covid booster shot for people aged 50 and older, because data showed that protection against the virus waned already from first booster shot. U.S. FDA said that shots from Pfizer and Moderna vaccines should be given at least 4 months after the received first dose of booster vaccine. They have also approved vaccination of the younger category, if they have compromised immune systems – Pfizer’s vaccine for 12 years old and up, Moderna’s for 18 and older.

Toyota and Honda show positive production

Supply of semiconductors has damaged most of Japanese automakers’ global production in February, but the results showed that Toyota – together with Daihatsu and Hino Motors Ltd., and Honda produced more cars than last year in the same period. Toyota produced around 885.000 vehicles, which is an increase of almost 11% from the last years February, while Honda reported that production rose for 8,1% with around 345.000 vehicles produced. Subaru and Nissan reported fall in production.

 

What to watch this week:

  • On Thursday important data from USA – unemployment claims and Core PCE price index
  • Fridays CPI flash estimate in Europe could be interesting

* Past performance is not guarantee of future results.

[1] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing of future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.

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