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Wall Street Breakfast

Wall Street Breakfast November 28: Apple Reportedly Facing iPhone Pro Shortfall

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8950 Ratings

🗓️ 28 November 2022

⏱️ 7 minutes

🧾️ Download transcript

Summary

Apple (AAPL) facing a shortfall of 6 million iPhone Pros amid protests - report. Shopify (SHOP) racks up record Black Friday sales tally. Amwell (AMWL) in discussions to buy Talkspace (TALK) for $1.50/share - report.

Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.

0:06.8

Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.

0:11.2

Good morning. Today is Monday, November 28th, and I'm your host Julie Morgan.

0:15.8

Our top stories.

0:17.2

Chinese protests against COVID controls shake equity and oil markets.

0:22.0

Apple's iPhone shortfall. Tesla's semis are on the way.

0:26.0

M well is in discussions to buy talk space, a record Black Friday for Shopify,

0:32.0

and our catalyst watch for the week.

0:35.0

U.S. stocks were mixed in subdued action during Black Friday trading,

0:39.0

with many market participants still out for the Thanksgiving holidays.

0:43.0

Trading ended earlier than usual at 1 PM.

0:46.4

The Dow climbed 0.45 percent, while the S&P 500 inches 0.03 percent lower and the Nasdak slid 0.03% lower and the NASDAQ slid 0.52%.

0:56.8

All three major indices were on track to end the holiday shortened week higher.

1:01.4

Of the 11 S&P 500 sectors, seven were trading in the green, led by utilities and real estate. The

1:08.0

Communication Services sector topped the losers list. In the earning spotlight today, Pinduo Dua. the Kim Khan the managing editor of Seeking Alpha. It's pretty busy on the data front

1:25.1

a lot packed in because we were a holiday short and week with Thanksgiving and

1:28.8

you're going to get revisions on GDP there's going to be consumer spending and income numbers, which also comes along with the Fed's favorite inflation gauge, but the big thing is going to be the payroll's report.

1:41.0

And this is one of those times where the stock market bulls are really going to want to see a low number. They want the bad news that will say give the Fed moment say, maybe the labor market's finally cooling off and we can take our foot off the

1:53.6

the rate tightening accelerator. Consensus is for 200 k and the unemployment rate

2:00.1

taking up to 3.8 percent the so all that will be closely watched. You can look out for that

2:05.7

report to be released on Friday at 8.30 a.m. Now our top story Apple could see

2:12.2

iPhone Pro production fall short by as many as 6 million

...

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