It's a big week for tech earnings. Apple, Amazon and Alphabet report on Thursday after the bell. Angelo Zino, Senior Equity Analyst at CFRA and John Petrides, Managing Director & Portfolio Manager at Point View Wealth Management join The Long and The Short to discuss.
According to the Wall Street Journal, Apple will cut production of the iPhone X after weak demand. Zino says its safe to say that it could impact next quarter's earnings report. Apple's production cuts are usually 30%-50%, but it seems a bit extreme this year. He's warning investors to brace for a top-line miss on its next earnings report. However, Apple won't lower its prices anytime soon. Zino says it will always lean towards selling at a higher price because of the quality it produces.
Plus, the Dow Jones slid triple digits on Tuesday. Petrides says some pullback is healthy, especially when the market is having one of the best starts of the year to date. One of the reasons we're seeing this drop is that Apple is 4% of the S&P 500. When it isn't performing at its highest it will have a trickle-down impact on the rest of the index.
As 2021 is approaching its end, the meme stock mania that surrounded companies like Gamestop and AMC this year doesn't seem to be going anywhere. Stocks for both companies plunged to their lowest levels in months on Monday, but on Tuesday, traders seemed to come to the rescue, as the stocks for both companies saw rebounds. Great Hill Capital Chariman Thomas Hayes joins Cheddar News' Closing Bell to discuss.
Upward Farms is an indoor vertical farming company on a mission to heal our broken food system and reconnect consumers with organic locally-grown food. The Brooklyn-based company uses its controlled environment farms to grow organic leafy greens, which are sold at whole foods markets in New York City. Upward Farms co-founder and CEO Jason Green joined Cheddar Climate to discuss.
One of the biggest hurdles when it comes to widespread electric vehicle adoption is consumer hesitation about their ability to keep their EV charged if they take a longer trip outside of their locality. Now, electric companies nationwide are teaming up as part of a coalition to build out a network of EV charging stations spanning major U.S. travel corridors. Kellen Schefter, director of electric transportation at the Edison Electric Institute, joins Cheddar Climate to discuss the coalition's plans, how drivers can compare fueling up with gas to recharging an EV on a long trip, how the charging network will be funded, and more.
The NBA's Golden State Warriors announced a partnership with crypto exchange FTX. It will become the official crypto trading platform for the franchise as well as home to a number of NFTs it plans to drop. Brandon Schneider, president and chief operating officer of the team, joined Cheddar's Kristen Scholer to provide some background on the deal and talked about how digital assets are transforming the world of sports. "We as a society, not just in sports, are kind of at the beginning of the beginning with crypto and NFTs specifically, so we're really excited to partner with FTX to see where we can take this together," he said.
As more states begin to legalize recreational marijuana, there's a growing interest in legalizing cannabis cultivation. As the rise in cannabis farms expands across the U.S., more research is being done to examine its impact on the planet. Michael Katz, executive director at Mendocino Cannabis Alliance, joins Cheddar News to talk about the carbon footprint of cannabis farms.
With the new year right around the corner, people are starting to set lofty goals for 2022. However, research shows that very few people actually attain their new year's goals, and with the uncertainty surrounding the pandemic, it may be even tougher this year. Sandee Sgarlata, expert happiness coach and author of 'Happiness Solved,' joined Cheddar News to offer tips on how to actually help your 2022 resolutions stick.
