China's Covid Situation Negatively Affects The Iphone Market| Record Results Of India's SBI
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Although the problem with the coronavirus pandemic has become a significant concern in global markets, it is still a problem for the Chinese economy. Inflation, although it is the main problem of economies around the world, has not had a significant impact on some companies. One such company turns out to be the Indian SBI lender.
In this article:
- China And Covid
- Apple warns
- Twitter is the topic
- India's SBI
What Chinese Goverments Will Do?
Jim Cramer asked the question about Chinese covid situation.
We have no idea what China is going to do with Covid so why do so many keep pretending they do?
— Jim Cramer (@jimcramer) November 7, 2022
The situation in China is still serious. The media is flooding with information on how the government is fighting the virus. Recently, there has been information about covid camps where thousands of people stayed. Everyone wonders what action the Chinese government will take, many are sure, but are they sure? And paying attention to this situation may turn out to be instinctive for a global situation.
Covid restrictions in China and their impact on Apple
CNBC Now also touches upon the covid situation in China, but highlights its impact.
BREAKING: Apple warns Covid restrictions in China are hurting iPhone production, and the company now expects “lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated” https://t.co/4q6RqhwHQd pic.twitter.com/fEsIurFTEN
— CNBC Now (@CNBCnow) November 6, 2022
China as the second largest economy in the world is watched by market participants. The current situation in China not only affects the financial markets but also the manufacturing markets of companies such as Apple. As can be seen from the available information, Apple may have a problem satisfying the needs. Production of the iPhone 14 has been temporarily reduced due to Covid-19 restrictions at the main iPhone factory. So far, there have been warnings, but the possible deterioration of the situation in China may make the smartphone manufacturer's circuits real.
Twitter and idea of monthly fees
*Walter Bloomberg tweets about conclusion about twitter in The New York Times
TWITTER SAID TO DELAY CHANGES TO CHECK MARK BADGES UNTIL AFTER MIDTERM ELECTION - NYT
— *Walter Bloomberg (@DeItaone) November 6, 2022
After Elon Musk took control over Twitter and dismissed key directors, it seems that the discussions around the platform are endless. There is information that Musk wants monthly fees of $8 for using the site. This resulted in a lot of comments, including even Stephen King. Of course, there are two sides of the idea's supporters and opponents. But the information posted in The New York Times and then quoted in the post *Walter Bloomberg suggests that this idea was postponed for later discussions. Could this turn out to be a tactical action or a reaction to the current situation? The answers to these questions can only be known when discussions are resumed.
Positive results of India's SBI
Reuters Business tweets about the very positive results of India's SBI.
Indian lender SBI's stock hits record high on "best-in-class" results https://t.co/HIWDsC2WYj pic.twitter.com/R01paWCJMG
— Reuters Business (@ReutersBiz) November 7, 2022
Inflation causes that nowadays credit products are not readily used. Banks around the world are trying to cope with this difficult situation where the main source is crisis. The largest banks may be in a better position. One bank in India said they are doing pretty well. SBI announced a "best-in-class" quarter with higher-than-industry credit growth. Positive information from banks may also affect its image and share price, in other words, improve its situation on the market.
