🔥Weekly Portfolio Update 12.04.21🔥
Weekly Performance, Key Events in The Portfolio, What to Read This Week and More!
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📮Portfolio Weekly Performance Report
◆ Key Events in The Portfolio
Big bet on $BABA (Alibaba) - Last week, we have made a relatively huge purchase of equities in Alibaba following its recent pullback to the $225 level, this investment had pushed Alibaba to become the biggest stock holding in our portfolio, currently occupying 10.21% of our total portfolio. I will be publishing an analysis report on the company very soon and I will provide explanations on why I have made such a bullish call. Join our email list now to make sure you won’t miss it.
Tech rally continued - Following the remarkable rally during the start of the month, the tech sector had yet again outperformed the market last week. Most notable of all, the FAANG stocks in our portfolio $FB $AAPL $AMZN $GOOG were among the winners of the week. Looking at the speculative end of our portfolio, too, we could see a remarkable gain of 14.00% in $SQ and 7.77% in $PYPL, both of which were bought at a dip during the March pullback.
$ADBE (Adobe Systems Inc.) inches towards all-time high - After three consecutive days of gains last week, $ADBE had closed $32.84 short of its 52-week high ($536.88). With an average analyst price estimate of $563.33 from nine analysts which points at a potential upside of 12% from today’s price point - $504.04, it will be interesting to see if the stock manages to sustain its rising trend and break a new high in the near future. I believe that the company’s successful transition to the cloud will sustain its growth for the foreseeable future. Regardless of its short-term price action, I will continue to hold the stock in the portfolio.
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📖 Recap of the week
$BABA made headlines - $BABA had made quite a headline last week when Charlie Munger disclosed his purchase of 165,320 shares in Alibaba in Q1 2021 in the 13F filing document, making it the third-largest holding in his Daily Journal Corp portfolio today. While the whole investing world was discussing what did the man see in the company that Wall St didn’t, we then had the news of Alibaba being fined a $2.8 billion antitrust fine in China by the market regulators. With this being viewed as a closure to the anti-monopoly case, for now, the market had reacted rather positively to the news. Today, the company’s Hong Kong-listed shares, $HKG:9988 had surged 6.51%. Looking at the US premarket data now, it is safe to assume that $BABA will make a similar move as the market opens later today.
$AAPL (Apple) faces short supply of display for its upcoming iPad Pro - No, global chip shortage is no longer the only culprit for the delay in iPad production this time around, there are new reports citing the possibility of short initial supplies for the company’s new upcoming 12.9 inch iPad Pro due to the poor manufacturing yields currently faced by the company’s overseas manufacturer. The 12.9 inch iPad Pro is expected to be launched with MiniLED display technology later this month, however, it turns out that the revolutionary display technology, which is supposed to “improve contrast ratios and deliver a brighter picture”, is not easy to make, resulting in at least one mini-LED maker has had to pause production. However, Apple still intends to launch the new iPad as early as this month according to people familiar with the matter.
Peter Thiel claimed China is using bitcoin as a “financial weapon” - As Peter Thiel, the PayPal founder spoke at a virtual panel event for the Richard Nixon Foundation last week, He raised an interesting question about China’s involvement in bitcoin, given that around two-thirds of all cryptocurrency mining is currently taking place in China today.
“From China’s point of view, they don’t like the US having this reserve currency because it gives us a lot of leverage over Iranian oil supply chains and all sorts of things like that,” … “From a geo-political perspective, the US should be asking some tougher questions about exactly how that works.” - Peter Thiel
White House to tackle chip shortages - Later today, Senior White House officials will meet top executives from nearly 20 major companies, which include Chief Executives from General Motors and Ford Motors, as well as Taiwan Semiconductor Manufacturing Company, AT&T, Samsung, Google-parent Alphabet, Dell Technologies, Intel Corp, Medtronic, Northrop Grumman, HP, Cummins, and Micron. They will meet in a meeting that is billed as the “CEO Summit on Semiconductor and Supply Chain Resilience” to discuss a global semiconductor shortage that has hit multiple industries especially the automotive and consumer electronics industries.
🐦 Tweets to start the week
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Best, HaoNing