If you are bullish on stocks, best hope the NFC’s L.A. Rams pummel Joe Burrow’s Cincinnati Bengals. That is, of course you are a big believer in the Super Bowl Indicator. The often bantered about Super Bowl Indicator suggests that stocks rise for the full year when the Super Bowl winner has come from the NFC, but when an AFC team wins it falls. Of course this is insane in principle as stocks move up and down based on expectations for the future earnings of their underlying companies (see Meta… Source link
Read More »Malaysian authorities crush 1,069 crypto mining rigs with a steamroller
How do authorities dispose of confiscated cryptocurrency mining rigs? In a city in Sarawak, Malaysia, authorities got rid of 1,069 rigs at once by crushing them with a steamroller, Vice reports. According to Malaysian publication Dayak Daily, the PCs were confiscated over six raids conducted between February and April this year. Sarawak Energy Berhad, the electric utility company of the Malaysian province, is accusing the mining operators of stealing electricity for their activities. The… Source link
Read More »Apple Q2 earnings crush analysts’ estimates but warns of chip shortages
Apple (AAPL) reported its Q2 2021 earnings after the closing bell on Wednesday, blowing away analysts’ expectations on the top and bottom line. Revenue was up a whopping 54% year-over-year on strong hardware sales in the quarter. Still, executives on Apple’s conference call warned of the impact of the ongoing global chip shortage on Apple’s hardware business. Supply constraints could have a revenue impact of $3 billion to $4 billion in the June quarter, Apple’s CFO Luca Maestri said on the… Source link
Read More »We are dealing with a ‘crush’ of demand
Bloomberg The Second Breakup of AT&T (Bloomberg) — AT&T Inc. has been called many things over its 135-year history: Ma Bell, monopoly, media conglomerate. The company, which traces its roots to the patent rights of telephone inventor Alexander Graham Bell, was the dominant phone company for much of the 20th century. So dominant, in fact, that it was broken up in 1982 as part of an agreement with antitrust authorities. But those businesses eventually began to merge, culminating with SBC… Source link
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