All eyes on Apple as earnings season looms

Investors expect this earnings season to be a rough one for stocks and will closely watch Apple in particular as a bellwether of global economic conditions.

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Farah Elbahrawy for Bloomberg News:

More than 60% of the 724 respondents to the latest MLIV Pulse survey say this earnings season will push the S&P 500 Index lower. That means no end in sight to the dismal run for stocks…

The results underscore Wall Street’s fear that even after this year’s brutal selloff, stocks have yet to price in all the risks stemming from central banks’ aggressive tightening as inflation remains stubbornly high. The outlook isn’t likely to improve any time soon with the Federal Reserve steadfast on hiking rates, likely weighing on growth and profits in the process.

As for stocks to watch in the next few weeks, 60% of survey takers see Apple as crucial. The iPhone maker, which has the heaviest weighting on the S&P 500, will provide insight into an array of key themes, such as consumer demand, supply chains, the effect of the soaring greenback and higher rates. The company reports on Oct. 27.

Survey respondents expect that references to inflation and recession will dominate earnings calls this season. Only 11% of participants said they expect chief executive officers to utter the word “confidence,” underscoring the gloomy backdrop.

MacDailyNews Take: It’s the guidance, or what passes for it these days, that will command the most attention from Apple and others.

See also: Apple to report Q422 earnings results on October 27th – October 10, 2022

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  1. U.S. Presidential Elections purchased by Mark Zuckerberg have consequences.

    Some major Carteresque pain is required at first, to teach younger, gullible voters a valuable lesson, but, when Democrats are finally, rightfully cast into the wilderness for a decade or more, we’ll be able to begin the effort to Make America Great Again starting this November!

    1. Is Biden responsible for record world-wide inflation?

      Biden Isn’t to Blame for Inflation

      The pandemic and the war in Ukraine are more plausible explanations.

      I used to be a loyal Republican, but I refuse to support a party that has become a personality cult and is now literally based on a lie. Trump lost the the 2020 election. Full stop. If you care about democracy, the environment, and women’s rights, vote blue.

      1. See, when it’s a Republican president, inflation and everything else is his fault, but when it’s a Democrat, inflation and everything else is never his fault.

      2. Bullshit. And weakly citing editorial tripe from leftist Keynesian Alan S. Blinder isn’t going to save your shit party of hate from 2022 and 2024 election massacres either, you bullshitter.

        And now for some facts:

        Fact: Dems Waged War on Work. Although there are nearly two job openings for every job seeker, Main Street continues to struggle to hire workers, and have lost jobs for three out of four months. Now the President is still 822,000 jobs short of pre-pandemic levels.

        → In January, ADP economist Nela Richardson warned that “all the jobs that we have seen gained are recovered jobs that were lost. We are not yet producing new jobs.”

        → A majority of small businesses fear Biden-Flation will close down their business.

        → A report from the St. Louis Fed found that had states across the country ended Democrats’ lavish unemployment bonuses early, employment would have increased by 1.6 million jobs.

        → In the first quarter of 2022, the economy shrunk, after falling short of projections four out of the last five quarters.

        → Biden’s economic policies have been so disastrous and inflationary, that since March of 2022, nearly 40 economists have raised concerns about a looming recession.

        Fact: Inflation has increased since the day Biden took office in January 2021, and began its rise to the fastest rate in 40-years directly after Democrats rammed through their partisan $2 trillion so-called COVID stimulus.

        → According to the San Francisco Fed, not only did Democrats’ spending increase inflation, it’s why the U.S. has higher inflation than most developed nations.

        → Democrats ignored the inflation warnings from former Obama-Biden Administration officials, including former Director of the National Economic Council Larry Summers, former “Auto Czar” Steven Rattner, and former Chairman of the Council of Economic Advisers Jason Furman. (In fact, Furman attributes at least 2.5 percent of current inflationary pressure to the massive bill.)

        → During a Senate Finance Committee hearing, Treasury Secretary Janet Yellen “pushed back on the notion that the country’s crippling inflation is being caused by corporations trying to rake in profits.” As the Washington Examiner reported: “Yellen, who previously served as chairwoman of the Federal Reserve, was asked whether corporate greed is the key cause of inflation during a New York Times event… ‘Demand and supply is largely driving inflation,’ Yellen said, adding that while price-to-cost margins have increased, that is not what is pushing prices to their highest levels in 40 years.”

    2. The Republican Party under Donald Trump is the Republicon party. Trump and his acolytes continuously lie and blame others. They are not cerebral to come with policies, practices and programs that help all Americans.

      1. You’re a brain-dead pawn.

  2. Hey, Americans, it’s not just the US politics that influences the economy. We are all in a global system that is very fragile when one or a few wheels don’t work properly. We’re got the war in the Ukraine, tension in Taiwan, North Korea, China, damages from COVID, power supply problems in Europe, a hurricane that hit Florida, a chip supply problem etc.

    1. The crux of the issue (for those who care):

      This inflation spiral is all about the pseudo-religion of global warming (climate change) and the misguided pseudo-religious war on energy sources that actually are affordable and work.

      Leftists, Democrats, and Establishment Globalists have turned their backs on religion, but the human soul knows there is a greater force and hence searches for God, so they have substituted “Climate Change” for “God.”

      “Climate Change” is the false god of Leftists, Democrats, and Establishment Globalists.

      This is why they hated Trump so much.

      Not for the “mean tweets,” but for canceling the stupid, do-nothing, holy scripture Paris Agreement immediately upon assuming office. It was among the very first travesties into which their installed puppet Biden re-entered – illegally, of course (treaties like this actually require congressional approval in America).

      With “Climate Change” as their “God,” and after years of demonizing a businessman who brought America to the lowest unemployment ever measured, it’s clear why they embraced “By Any Means Necessary” and rigged the 2020 election using COVID as a cover to install a controllable puppet using Zuckerberg-funded drop boxes that lacked a verifiable chain of custody into inner-city Democrat districts to get “votes” into the system that no audit or court could remove after the fact.

      Leftists, Democrats, and Establishment Globalists believe they have “God” (overwrought, continually wrong, climate change fairy tales of doom) on their side, so they feel they can do anything: Bogus impeachments, stuffing unmonitored drop boxes at 3am to rig elections, wide-open borders, war on energy creating four-decade-high inflation, weaponizing the FBI against a president over nothing, etc.

      I fear for Trump’s life. I hope he has more than adequate, uncorrupted protection. The leftist zealots will clearly stop at nothing in the name of their false god.

      1. You need help.

        Apple is as globalist as you can get. Your demigod is a globalist too, despite his rhetoric to the contrary. Neither side is always right nor always wrong. This is not the site for your incessant political propaganda. Change the name of the site or start your own maga worship site. Please.

          1. Your petty little meme is more accurate than you realize.

            Having alienated true conservatives, your dinosaur faction of the GOP screams lots but accomplishes little. Unable to move on any issue you complain about, of course you’re in the rear view mirror of even the slowest Dem. One character here is driving a modern vehicle and the other is living in the stone age, and demanding everyone else join the backwards movement, using violent themes as they become increasingly desperate, old, and irrelevant.

            Before you turn around and start throwing more insults my way, listen up. I am no democrat. I didn’t vote for Biden. But the stupid shilling for your corrupt party led by the biggest liar in all of politics isn’t worth the space you waste on it. There is a reason he lost. DJT was inept and didn’t accomplish what he promised. He cast aside decent men like Pence when they wouldn’t commit treason for Trump.

            Intelligent voters in 2020 had 2 weak choices but they wisely ditched the old paranoid con man. We will just have to put up with an equally old but good intentioned politician who has demonstrated that at least he can work with opposition candidates like Desantis to get things done when they need to be. That alone proves voters picked the lesser of two evils, even if you can’t bear to admit it.

            DJT lost congress on his midterms and he lost his relection also because the working class got nothing but 4 years of excuses and lies. Biden can do no worse, and will be replaced soon. Meanwhile, go get help. You need to find something to do for the next 2 years besides stew in your partisan hatred. Also, what is left of the GOP conservative establishment still holds sway. McConnell will never let DJT come anywhere near federal office again, and he’s already stated how disappointing the quality of DJT-endorsed candidates are. You should fix your own house before casting stones at the other equally corrupt party.

            I will be voting independent because you haven’t offered any coherent platform to fix any of the issues you bitterly whine about here, any more than the useless dems have. Good day.

            1. You’re the one who needs to start your own site Steve, you severely confuse “comments” with editorial essays. You take the bait every time and do the exact thing you complain about, writing double-length political replies to whatever triggers you. Get over yourself, self-righteous “independents” are as insufferable as communists.

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