An Oscars ceremony doesn’t really belong in a stock market newsletter. But when a film from a streaming service wins an Oscar for Best Picture for the first time, you should pay attention. That’s what happened last week. The tragicomedy “Coda,” which is streaming on Apple TV, won three awards at last Sunday’s ceremony.
Tech Company Wins Oscar
Apple (AAPL) is one of the world’s leading technology corporations. Whether in mobile devices, desktop computers and notebooks, portable music players and digital cloud services – Apple has been setting standards for years.
With the television and streaming service AppleTV, Apple is now also stirring up Hollywood. In the short term, however, it has to cope with a development that is less pricey.
Ukraine War And High Inflation Curb Consumer Appetite
Media service Nikkei Business reported that Apple is planning to cut back on the production of iPhones and AirPods. This is mainly due to lower demand as a result of the war in Ukraine and high inflation. According to the report, the company will produce about one-fifth fewer units of the iPhone SE model in the coming quarter.
This corresponds to a cut of two to three million iPhones, according to Nikkei. In the case of AirPods, it will make about 10 million less headphones this year.
Apple Share In Short-Term Correction
The share of the tech company, which is no stranger to success, is heading for a correction in the short term. However, Apple should survive a small growth dip without damage. After all, Apple’s products are in a different league and are superior to those of the competition in many applications.
In conclusion, Apple always manages to make headlines with innovations. Despite the current correction, the stock continues to move in a 5-year upward trend. The analysts’ assessments are predominantly positive.
According to the Wall Street Journal, 33 of 42 analysts continue to recommend APPL as a buy, eight advise a hold and one analyst prefers to sell. The average analyst price target is $193, and the highest is $215.