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Today in the Market (3/29/2023)

Good Evening! As investors anticipated the conclusion of an exciting month and first quarter, defined by fortitude in the face of a bank crisis and impending concerns about the global economy, stocks rose on Wednesday.

The S&P 500 surged by 1.42%, the Dow Jones increased by 1.00%, and the Nasdaq Composite led gains by being up by 1.79%.


Lululemon Athletica’s (LULU) stock price increased after the release of the company’s fourth-quarter fiscal 2022 results. The stock price of Lululemon rose around 13% as a result of earnings that exceeded expectations and solid forecasts.

  • Revenue: $2.77 Billion vs. 2.70 Billion Expected
  • Earnings Per Share: $4.40 vs $4.26 Expected

Interestingly enough, the growth didn’t come from one of the expected sources… The purchase of Mirror was intended to stimulate expansion for Lululemon. However, many enthusiasts of the retailer’s sports clothing were unaware of Mirror and its subscription training material. So, it would seem to be a marriage made in heaven. Yet Mirror was and is underperforming, so management has shifted to a subscription model centered on apps.

Going forward… Lululemon set long-term projections for sales to be $12.5 billion in 2026, up from $8.1 billion in 2022. Even with Mirror’s underperformance, the good news is that the underperformance from Mirror has not altered management’s belief that its goals are attainable.


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The largest manufacturer of computer chips, Intel Inc. (INTC), rose 7.6% after stating that new products for the lucrative server sector would be released sooner than anticipated.

What is Intel doing to make this happen? According to Executive Vice President Sandra Rivera, the business will be changing to a more modern manufacturing process. The results of the changes will make the release of the new chip with more computational cores happen sooner than analysts had projected. 

This is what Intel needed because… Server processors are the foundation of business networks and the massive data centers that power the Internet. Pat Gelsinger, the company’s chief executive officer, is attempting to reverse market share losses from competitor Advanced Micro Devices Inc. by restoring technological leadership in the server industry, one of its most lucrative business segments

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