What Happened This Week In The Stock Market?
Going over the market moves during the week of 3/28/2022
First up, I little announcement. I started a second channel where I talk about Sports, Gaming, and Movies. If that’s something you like, maybe you should go have a look and be the first 100 to subscribe! You won’t be disappointed!
Alright, now back to the main event. If you’re new here, welcome and if not, welcome back. Most of you subscribed to get an earnings summary and that is what you will get, just a little bit shorter. This will also continue when earnings season is over and will cover the big moves the market or specific companies have made during the week.
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"We would rather move to the sidelines until we have better clarity" on the pressures facing AMD, Barclays analysts Blayne Curtis said Thursday.
Barclays analysts Blayne Curtis lowered his rating on AMD to 'equal weight' from 'overweight', while cutting his price target on the group by around 22% to $115 per share, citing "cyclical risk across several end markets" looming in 2023.
The stock ended the week down 8.6% to $107.
EV Power in France
Sales of new electrified vehicles in France overtook petrol-powered equivalents for the first time in the first quarter, a major milestone for lower-emission vehicles amid high prices at petrol pumps and government subsidies for electrified models.
Sales of fully electric and hybrid models accounted for nearly 40% of new car sales, versus 38.3% for conventional petrol models, according to industry data provided by the Plateforme automobile (PFA).
Jobs Jobs Jobs (not Steve)
The U.S. created a robust 431,000 jobs in March and the unemployment rate took another step toward a half-century low to 3.6%.
UiPath to nowhere…
The company reported revenue of $290M (+39% YoY) vs $283M consensus. As for next Q, it guided for $224M vs $247M consensus. ARR of $925M (+59%).
DBNR came in at 145%. 86% GM and (3%) FCF Margin.
The stock ended the week down 23% to $22. It’s down 50% YTD.
Metaverse Economy As Large As $13T by 2030
The total addressable market (TAM) for the metaverse economy could be between $8 trillion and $13 trillion by 2030, with up to five billion users, but getting to that market level is going to require sizable infrastructure investment, Citi said in a report on Thursday.
The virtual world could be the next generation of the internet, the bank’s analysts said in a report. But large investments will be required in areas such as storage, network infrastructure, consumer hardware, and game development platforms.
Some articles I wrote this week.
That’s all folks! See you next week.