Today in the Market (12/1/2023)

Good Evening! On Friday, the U.S. markets kept their upward trend from November. The Dow Jones led the way by increasing 0.82%, while the S&P 500 rose by 0.59%. The Nasdaq had the roughest start but still ended the day up by 0.55%

MARKET WANTED MORE

Dell Technologies (DELL) released its third-quarter financial results, revealing that its sales fell below expectations. This overshadowed the positive news of beating profits, as the hardware and software industry is rebounding at a slower rate than first predicted after the Covid-19 pandemic.

So what did the market not like? The market had higher expectations after positive indications from Intel Corporation (INTC) and Advanced Micro Devices Inc. (AMD), suggesting that the recovery is gaining momentum right before the Christmas season. However… the results of the company align with the patterns seen in the PC industry, similar to its competitor, HP Inc. (HPQ), which predicted a lower-than-anticipated profit for the first quarter owing to a sluggish recovery in the PC market and poor demand in China.

It wasn’t all bad news! There was a notable 9% growth in sales from servers and networking, reaching $4.7 billion in the second quarter. According to Chief Operating Officer (COO), Jeff Clarke, client demand for generative AI was the main factor in the strong performance. Looking forward to fiscal year 2025, he expressed confidence in revenue growth due to favorable market conditions.

ULTIMATE STREAMING BUNDLE!

According to the Wall Street Journal, Apple (AAPL) and Paramount (PARA) have engaged in discussions over the possibility of offering their streaming services together at a reduced price. This strategic move aims to stand out in a highly competitive market and address the trend of customers reducing their subscriptions to various services.

Why would this be good? According to the article, the proposed combination would be more cost-effective than paying for the two services individually. The advantage of using a bundling approach arises from the provision of cheaper prices for consumers and an enhanced product offering from streamers. Although some consumers may choose to subscribe to a service and then terminate their subscription after binge-watching a program, a bundle may provide a more persuasive incentive to remain, since it offers a more extensive collection of content and access to a greater number of exclusive series and movies.

Why the shift, though? Entertainment firms are under ongoing pressure due to the abundance of options available to consumers and the maturation of the streaming industry. On top of that, streamers have also raised fees and implemented ad-supported schemes to boost income, which might not be enough going forward.

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