Friday Five: October 30 - November 3, 2017
- Friday Five
- Read in: 3 mins
- by: Jerry Caggiano
As Bitcoin continues its march past $7,000, the cryptocurrency market cap hit another all-time high of $200 billion. Jemima Kelly, a correspondent at Reuters, states “ If the cryptocurrency market were a company, its valuation would put it in the top 25 firms on the S&P 500. SPX stock index.” Rumor has it that Amazon could be working to accept these currencies.
Apple taps $900B after a blowout fourth quarter (TechCrunch)
Apple seeks to become the first $1 trillion company as it briefly held a market cap of $900 Billion this past week. With the much anticipated iPhone X being released today, November third, “Apple is looking to spark a new wave of consumers to buy the iPhone X and its accompanying products, like the AirPods, iPad or HomePod, to get the most use out of it.”
Tesla only delivered 222 Model 3 sedans after stating it would produce 1,500 sedans this past Q3. With a reported Q3 loss of $671 million, its largest ever, the Model 3 is in “Production hell”. Tesla is working to cut costs of the Model 3 by automating as much of the process as possible, but continues to experience production bottlenecks that hinder the plant's capabilities.
The world is moving mobile, that has been a known fact since the cell phones came to be. That said, 2017 is expected to be the first year where mobile shopping surpasses desktop shopping. “This holiday season, Adobe is forecasting online sales to reach $107.4 billion, up 13.8 percent from last year, and topping in-store retail by 10 percent.”
Amazon has announced this past Wednesday that its mobile app on IOS11 will feature “AR view.” This “AR view” will allow shoppers to check how thousands of products look like inside their house. From furniture to vases, Amazon is looking to maximize revenue from online sales as they shift from desktop to mobile.