Noteable economic stories from last week:
- Virtual reality is hard, $META cuts prices while $AAPL preps their first go at it. The current expectations are that Apple will have a hard time charging thousands of dollars for this product until they can refine it into some more mass-market. We would bet the expectations are wrong.
- Speaking of $AAPL, the diversification of their manufacturing base continues to shift slowly away from China. This will take a very long time but this is a trend that will continue.
- In other tech news, Salesforce has decided to show everyone that they can and will make a lot of money. Expect more of this across the tech and SaaS world as profitable growth is now required
- Warren Buffett released his annual letter to the shareholders. The tone and the length has certainly shifted over the last years. For those that haven’t read them they are still timeless and helpful. For those who get up at 5AM for the newest one this year may leave something to be desired.
- In the markets, stocks closed out the week positive with a strong Friday. Markets are still stuck between strong internals (breadth thrusts) and weak economic growth. This will take time to play out with lots of volatility in-between
Weekly Update
