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Here’s everything you need to know today: There are currently 14,157 publicly traded companies in the United States and over 1000+ articles released about S&P500 companies alone every single day. Today we will be showing you the top 3 events that you need to know today:

Market Performance (1 year)

1. Dow - 17.49%

2. S&P 500 - 28.74%

3. Nasdaq - 30.89%

4. Bitcoin - 146%

Today (Here’s 3 things you need to know)  

1. Apple is planning foldable phones to revive growth

1 Year Performance (AAPL): +25.59%

Apple is preparing significant design and format changes across its product lineup, including a thinner iPhone and two foldable devices, as part of efforts to revive growth.

Starting next year, Apple will introduce a new, thinner iPhone, featuring a simplified camera system to reduce costs. In addition, Apple is working on two foldable devices: a larger one resembling a laptop with a 19-inch screen and a smaller model that would serve as a foldable iPhone.

Both designs have faced delays due to challenges with hinges and display materials, but Apple is pushing for a 2026 release for the foldable iPhone, ahead of the larger device.

These efforts come as Apple looks for ways to boost its iPhone business, which has been facing a sales slump, growing less than 1% in fiscal 2024.

The last significant iPhone redesign occurred in 2017, and recent updates have focused on incremental changes such as improved chips and cameras.

The company hopes that hardware innovation, such as the foldable devices and ultrathin iPhones, will encourage consumers to upgrade.

Additionally, Apple is seeking growth through products beyond the iPhone, including the Vision Pro virtual-reality headset, although its high price and slow developer interest have hindered its success so far.

2. Federal Reserve expected to cut rates this week

U.S. stocks are facing a critical test in the coming week with the Federal Reserve's meeting, as investors await the central bank's guidance on interest rate cuts.

The Nasdaq Composite index has surged 32% this year, reaching a historic high of 20,000, while the S&P 500 has gained around 27%.

Expectations of a 25 basis point rate cut next week have fueled these gains, but investors have tempered their expectations for future cuts due to strong economic growth and persistent inflation.

Rising bond yields, particularly the 10-year Treasury yield approaching 4.5%, are adding pressure, and any indication that the Fed might slow down its rate-cutting pace could create downside risks for stocks.

The Fed is expected to reduce rates by 25 basis points at its meeting, with futures pricing in a 96% chance of that outcome.

However, uncertainty remains about the pace of future cuts, with projections suggesting the rate may end 2024 at 3.8%. Fed officials are likely to proceed cautiously, influenced by factors such as stronger-than-expected economic growth and concerns about inflation amid political uncertainties, particularly surrounding the presidential election.

Despite these headwinds, analysts remain optimistic about the market's momentum, though some technical signals suggest the rally could be losing steam, with fewer stocks driving the advance.

3. Super Micro Computer: AI Boom Meets Volatility and Uncertainty

1 Year Performance (SMCI): +21.46%

Super Micro Computer (SMCI) has been a standout in the AI revolution, capitalizing on the growing demand for advanced AI servers.

However, its stock has experienced volatility this year, marked by accounting controversies and fears of a Nasdaq delisting.

Despite clearing up these issues, with the company's CEO cleared of misconduct and a new auditor in place, concerns remain about the company’s operational stability.

Although Super Micro is benefiting from strong AI demand, caution is recommended due to the company’s volatile history and unresolved challenges.

Despite a dramatic stock rally over the past month, JPMorgan and Goldman Sachs have downgraded the stock, citing risks from delayed financial filings and the resignation of its auditor.

SMCI’s financials also showed vulnerabilities, with declining margins and a missed EPS in its most recent earnings report.

Looking forward, the company expects strong sales growth in fiscal 2025, but analysts remain cautious about its trajectory.

With the stock trading at a P/E ratio of 19.22x, below the tech sector's average, and lingering governance concerns, SMCI's volatility makes it a risky investment.

While the stock has potential upside, investors should weigh this against the potential risks and uncertainty surrounding its future.

Market Memes Of The Day

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