Good Evening! On Tuesday, there was a slight rise in stock prices on Wall Street, which was caused by the increasing optimism that the Federal Reserve has concluded interest rate hikes, if only temporarily. However, investors remained cautious due to the escalating crisis in the Middle East.
All three indexes saw similar gains with the Nasdaq Composite increasing 0.58%, the S&P 500 rising 0.52%, and the Dow Jones gaining 0.40%.
PEPSI IS NOT BACKING DOWN
PepsiCo (PEP), the manufacturer of Pepsi beverages and Frito Lay snacks exceeded Wall Street’s earnings projections on Tuesday, resulting in a nearly 2% increase in share price. The corporation achieved revenue growth in all business categories, with the exception of the Africa/Middle East region.
- Revenue: $23.45 Billion vs. $23.38 Billion Expected
- Organic Sales Growth: 8.8% vs. 8.3% Expected
- Earnings Per Share: $2.25 vs. $2.16 Expected
The corporation not only revised its projected profitability for the whole year but also expressed its anticipation of achieving sales and earnings growth in 2024 that aligns with the uppermost range of its long-term objectives. PepsiCo’s CEO, Ramon Laguarta, emphasized the continued robustness and durability of the company’s product categories.
A TURNING POINT?
Following a period of consistent and distressing declines spanning two years, it seems the PC industry may have reached its lowest point. According to the research company Gartner, there is potential for positive developments, which might provide favorable outcomes for various manufacturers such as Apple (AAPL), HP (HPQ), and Microsoft (MSFT).
A recap of the PC industry! According to research by Gartner in January, there was a significant reduction of 28.5% in PC shipments compared to the previous year. This loss is the greatest year-over-year drop since the mid-1990s when Gartner started monitoring and recording sales data. However, there are indications of a market upswing, characterized by a decline in inventory levels and an increasing number of individuals seeking personal computers.
Finishing 2023 and seeing what is in store for 2024! According to Gartner, the PC market is projected to have a recovery in 2024, with an anticipated growth rate of 4.9%. This growth is driven by the increased demand for new systems from both consumer and business clients, as they seek to replenish their inventories. However, it is important to note that 2023 is forecast to be a relatively fruitless period for the sector as a whole.