[USD] Bought π $Apple (AAPL)$ and π $Tesla (TSLA)$ before Thanksgiving because both the stocks' prices already bottomed out and were picking up. However, on Black Friday, the share prices of both the stocks went down further. So I adopted the strategy of Dollar-Cost Averaging (DCA) and buy some more of both.
Now it looks set that the prices of both my purchases ( Shares of πApple the mobile phone and Tesla the π electric vehicle (EV) ) just got even lower Post Black Friday. My π Apple has turned red πand my π Tesla has gone roller-coaster downward π’.
π₯΅ I am trying to stay cool and not panic.π₯Ά
Many shoppers looking for π Apple's latest high-end phones returned empty-handed from its stores on Black Friday as the technology company struggles with production snafus in China. π Apple says the new pandemic lockdowns in China have "temporarily impacted" production of iPhone 14 Pro and iPhone 14 Pro Max models at the Foxconn factory in Zhengzhou, China. The new COViD Zero factory shutdowns in China would create "lower" shipments and "significantly reduced capacity " for its Max and Pro models for this crucial holiday shopping season. πApple said customers should expect longer wait times when ordering.
Wedbush analysts Dan Ives and John Katsingris said they expect to see the shutdowns negatively impacting "roughly" 3 percent of iPhone sales this quarter. Wedbush is maintaining a USD$200 price target for π Apple shares despite the news because "this is a supply issue related to China's Zero Covid policy but not demand driven."
Research firm Trendforce based in Taipei, Taiwan has projected iPhone shipments for the fourth quarter to be lowered by 2. million to 3 million units. It said China's Covid policy could drive down iPhone shipments into the first quarter of 2023, worrying that winter surges of Covid will further impact production. π Apple could see worsening results in 2023.
π The rout in Tesla shares is accelerating as a recall and China's return to Covid Zero curbs adds toinvestors' concern, with CEO Elon Musk's lack of focus for π Tesla.
π Tesla's share price has dropped to USD$167.87, the lowest since November 2020. China's return to lockdowns has put π Tesla's production and sales at risk. π Tesla also initiated a recall of more than 300,000 cars due to faulty taillights. π Tesla's share price would drop further as its supply-chain snarls mount, raw-material costs soar and potential buyers feel the squeeze of stubborn inflation and rising interest rates.
"Weakening macro data in China is leading to concerns on π Tesla, who has already lowered price once to stimulate demand and has a heavy export output in the first half of fourth quarter," Cowen analyst Jeffrey Osborne wrote. He added that hedge funds seem to be shifting to a negative bias on π Tesla due to risk that there has been "a loss of focus" on Tesla since Musk acquired Twitter.
π Should I buy more π Apple and π Tesla when the market open for trade on Monday? Join me if you want to practice catching falling knifes!
πͺπͺπͺπͺπͺπͺπͺπͺπͺπͺπͺπͺπͺπͺπͺπͺ
[Spurting] [Spurting] [Spurting] [Spurting] [Spurting] [Spurting] [Spurting] [Spurting] [Spurting] [Spurting] [Spurting]
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@TigerStars @MillionaireTiger @Daily_Discussion @Tiger_chat
(βοΈβοΈ 200Mil WkTreTop)
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