Happy New Year! This is our first value creation summary interim Brief for 2023. As a result, the only comparisons that we have are for the week. We have tried to streamline the chart as well.
The bottom line is that it was a good week for the Telco Top Five (+$47 billion) and a below par week for the Fab Five (-$76 billion). The Telco Top Five gain is driven by positive statements from telco providers at the Citi conference this week (especially from Verizon, who stated that consumer postpaid phone net adds would be positive). We will have more on each participating company’s comments in next week’s Brief.
Notably, each of the Telco Top Five were up to start the year. That is not the case for the Fab Five, with many investors growing skittish over Apple’s quarter (which, if you are followed our iPhone availability posts, will be OK but not a blowout) and this week that contagion spread to Microsoft (-$111 billion for the week). Earnings will be good for the Fab Five, but questions about the growth trajectory will remain throughout 2023.
More to come in next week’s Brief. Go Chiefs!