Musk Intends To Cut Costs In Tesla On Everything
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After Elon Musk acquired Twitter, many investors are wondering what's next for Tesla. Recently, after publishing the results, Elon Musk shared plans for Tesla.
In this article:
- Cuts
- Apple has maintained its position as the largest smartphone manufacturer
- Asia will be the leader in the future
- The future of Big Tech in 2023
Cuts
Elon Musk's attention has recently been largely focused on Twitter's activities, but he does not forget about Tesla. Musk intends to cut costs on everything from parts to logistics, while keeping the pressure on competitors with discounted sticker prices.
Tesla is also cutting costs by redesigning battery and electric motor system components, removing features owners don't use, based on data collected from Model 3 sedans and Model Y SUVs on the road
Elon Musk has a playbook for Tesla headed into what he believes will be a 'serious' recession: cut costs on everything from parts to logistics, while keeping the pressure on competitors with discounted sticker prices https://t.co/tyYV26iN6v pic.twitter.com/G1KyALvLjY
— Reuters Business (@ReutersBiz) January 26, 2023
Apple has maintained its position as the largest smartphone manufacturer
The difficult economic situation also affected the sales of smartphones. Global smartphone shipments declined in the fourth quarter of 2022, according to research firm IDC. A total of 1.21 billion smartphones were shipped in 2022, the lowest annual shipment volume since 2013 due to significantly weakened consumer demand, inflation and economic uncertainty.
Apple has maintained its position as the largest smartphone manufacturer in the world. The US tech giant shipped 72.3 million iPhones in the fourth quarter, down 14.9% year-on-year. Samsung, the second largest player in the smartphone market, saw sales fall 15.6% year-on-year to 58.2 million units. Samsung did not release an all-new flagship smartphone for the fourth quarter.
Smartphone shipments plunge to a low not seen since 2013 — their largest ever decline https://t.co/KHk5fHELJr
— CNBC (@CNBC) January 26, 2023
Read next: Trump Returns To Social Media, Meta Will Restore The Former President's Account| FXMAG.COM
Asia will be the leader in the future
Since the outbreak of the coronavirus pandemic, global growth has been put to a significant test. This was especially shown in 2022, where the growing inflation and interest rates affected the condition of the economies. Investors and economists are wondering whether global economic leaders will maintain their positions or will this change over the years as a result of events. The United States is the economic leader followed by China.
According to economists, this may change and the main driving force of global growth will not be Western countries, but countries from Asia. This is very likely because most of the population is in this region, and this region is developing dynamically and thus offers jobs and attracts new residents.
What countries are likely to power global growth in the decades to come? We cover the answer in our #ExchangesGS podcast here: https://t.co/G60vRNYV1u pic.twitter.com/w61esY8sv2
— Goldman Sachs (@GoldmanSachs) January 25, 2023
The future of Big Tech in 2023
2022 was a difficult year for Silicon Valley. After solid growth lasting more than a decade and a pandemic-induced boom, Big Tech giants like Meta, Alphabet and Apple have lost market value. Overall, Big Tech faces countless challenges in 2023, including macroeconomic pressures, increased competition, supply chain issues, and bloated cost structures. However, there are positive sides to every cloud: companies are now rethinking their business strategies, which could pave the way for a more sustainable era for Big Tech. For example, when it comes to Meta, the company is expected to continue to focus on its new AI Discovery engine, ads, and business platforms.
Big Tech firms endured a tough year due to macro headwinds, supply chain issues, and plummeting revenues. J.P. Morgan Research explores the opportunities that lie ahead.
— J.P. Morgan (@jpmorgan) January 25, 2023
