Motley Fool Money U.S. Hits AA+ and the iPhone Slumps
Aug 4, 2023
Guest Rick Munarriz, a Motley Fool analyst, dives into the challenges facing Disney's Marvel amidst fierce competition from hits like Barbie and Super Mario Brothers. He discusses how declining ticket sales and audience interest are pressuring the franchise to innovate. The conversation also touches on Apple's recent struggles with iPhone sales and the growth of Amazon's cloud services. Additionally, insights into Wingstop's successful pricing strategy and the performance of E.l.f. Cosmetics add to the market dynamics of this engaging discussion.
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US Credit Downgrade
- Fitch downgraded US debt to AA+ from AAA, impacting the credit market.
- This symbolic downgrade, while concerning, shouldn't overly worry investors, according to Buffett.
Small Bank Failure
- The Kansas Heartland Tri-State Bank's closure by the FDIC was caused by a scam, not systemic issues.
- This event highlights vulnerabilities of smaller banks to sophisticated fraud.
Apple's Declining Revenue
- Apple's revenue declined for a third consecutive quarter, similar to 2016, mainly due to slowing iPhone sales.
- However, Apple's strong services business offsets some concern, showing growth and reaching 1 billion subscriptions.