FT News Briefing Apple and Tesla start 2023 on the wrong foot
6 snips
Jan 4, 2023 Britons face healthcare access issues this winter amid a struggling NHS. Tesla and Apple stock values tumble due to production hurdles in China, sparking concern over their market resilience. Additionally, the podcast delves into the surge of retail investors in the risky commodities market, raising alarms about potential losses. Speculation in agricultural commodities and natural gas price volatility show the ripple effects of these investments, underlining the fragility of current economic dynamics.
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Tesla's Delivery Shortfall
- Tesla's Q4 2022 vehicle deliveries fell short of Wall Street expectations, impacting its stock price.
- Production issues in China, particularly the Shanghai plant closure, contributed to this shortfall.
Apple's Market Value Drop
- Apple's market value dropped below $2 trillion due to supply chain disruptions in China.
- The COVID-19 outbreak in "iPhone City" significantly impacted production and revenue projections.
Apple's China Challenge
- Apple's supply chain, heavily concentrated in China, faces uncertainty due to the lifting of zero-COVID restrictions.
- While potentially beneficial long-term, the next six months could bring further disruptions from absenteeism.