In Canada, Metro (MRU/TSX) delivered superb outcomes, as has been the development for Canadian grocers. The next is in Canadian {dollars}.
- Second-quarter non-GAAP earnings per share of $0.96.
- Income of $4.55 billion (+6.6% year-over-year).
- Meals same-store gross sales up 5.8%.
- Pharmacy same-store gross sales up 7.3%.
Apple continues its push into fintech
Apple (AAPL/NASDAQ) is one in all my favorite corporations and maybe my favorite inventory holding. It’s one in all my three U.S. inventory picks from 2014. From the time I picked up Apple, it has crushed the S&P 500 by greater than 16% yearly.
My different picks embody BlackRock (BLK/NYSE) and Berkshire Hathaway (BRK.B/NYSE) as a defensive (deliver on that recession choose).
Apple just lately made one other fintech push with a partnership with Goldman Sachs to ship a high-interest financial savings account providing within the U.S. From that information article:
“Apple joined the competitors for financial institution deposits on Monday with the launch of a high-yield financial savings account that pays an annual proportion yield of 4.15%. The high-yield financial savings accounts, accessible together with Apple’s bank card, are one of many tech firm’s newest steps into the financial-services house, which additionally embody an possibility to permit prospects to ‘purchase now, pay later’ on sure of its {hardware} merchandise.”
Apple can also be transferring some manufacturing to India. CEO Tim Prepare dinner travelled to India to open the primary Apple retailer in a rustic that many economists really feel may very well be an financial powerhouse sooner or later. It’s anticipated that India will go China a while this summer season to develop into the world’s most populous nation.
Apple can transfer into new choices the place it might ship nice merchandise inside the smart bounds of the model. However it might stretch the product providing past our expectations. Suppose again to Apple transferring into digital music, after which smartphones, basically creating classes.
It’s an excellent firm, however a really costly inventory IMHO. The inventory’s ahead price-to-earnings (P/E) ratio—calculated by dividing the inventory worth by projected earnings per share—is excessive, at 27.17 (as of April 21). I’m glad that I already personal it.
Bitcoin to the moon?
As you could know, I wrote the go-to piece ? on bitcoin as an funding, again in January 2021. Gold makes a balanced portfolio higher. And for me and plenty of others, bitcoin is trendy or digital gold. From that column:
