Market Update Newsletter 1/12/23

Markets ended high yesterday with the S&P 500 up over 1% and the NASDAQ close to 2%. CPI figures are expected today and if the number is "good", the FED will have a justification to further raise rates. If the numbers show that inflation is rising, the FED could potentially pull back. Either way, the market futures are up in anticipation.

Apple (AAPL) plans to start making its own screens in-house, starting with Apple watch screens. First chips, now screens, it seems that Apple is distancing itself from its dependence on Asia for production. Very wise.

Tesla (TSLA) reported being nearing a deal for a plant in Indonesia that could produce up to 1 million cars a year.

Logitech (LOGI) drops 16% after missing earnings and slashed sales outlook. Is this a sign of the continuous slowing of PC demand? Not good for Microsoft (MSFT)

Stocks to Watch

Apollo Management (APO) has its price target raised by Barclays. The company is a well-diversified fund that might be better suited for the current economic conditions than others.

Raytheon Technologies (RTX) receives a price target raise from Credit Suisse. Great call.

Happy Investing,

The Punkrock Capitalist