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Apple shares had their best day since early May last year, up 4.3% on Thursday as investors are looking forward to seeing how Apple will implement AI into their products in the coming year.

Other AI stocks performed well, with the NASDAQ up 1.77%. But, not all stocks had a good day, chip manufacturers are having a China scare.

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Markets

China's March exports and imports shrink, miss forecasts by big margins (3 minute read) 
China's export numbers took a nosedive in March, tumbling down 7.5% compared to last year—the steepest drop since last August. It's not just the exports; imports were also down, catching analysts off guard and missing their forecasts by a country mile.

This double whammy of bad news from the customs data paints a grim picture of China's economic revival efforts. Despite some robust moves by policymakers to kickstart the economy with a focus on boosting household spending and private investments, the recovery is looking shaky. The external demand is weak, and with global bigwigs like the Fed not too keen on cutting interest rates, Chinese exporters are in for more rough seas. Analysts are keeping their hopes in check, predicting no quick fix to the ongoing property sector slump and an uneven growth path ahead.

Apple shares just had their best day since last May (2 minute read)
Apple's shares soared 4.3% on Thursday, hitting $175.04, marking their best performance since early May last year. This rally was part of a broader surge in tech stocks, especially those in the AI sector, pushing the Nasdaq up by 1.77%. Despite a rough start to the year with a more than 5% dip in share value, Apple is seeing a mood shift among investors, particularly hedge funds, as noted by JPMorgan analysts.

This change in sentiment is partly spurred by Apple's recent price drop, making its valuation more appealing. Although challenges persist, like dwindling iPhone sales in China and scrapped projects like the Apple car, investors are seemingly reassured by Apple's potential in AI. JPMorgan anticipates a robust iPhone sales cycle in 2026, driven by upcoming AI innovations. Adding to the buzz, Apple CEO Tim Cook teased an AI-related announcement expected at the Worldwide Developers Conference in June.

Intel, AMD stock drop on report China is phasing out foreign chips (1 minute read)
China is putting the pedal to the metal on ditching American chipmakers from its telecom scene by 2027. This bold directive from the Ministry of Industry and Information Technology (MIIT) demands that major telecom operators kick foreign processors to the curb, a move that's set to shake up Intel and AMD, with their shares already sliding down 1.3% and 2%.

The urgency to swap out these crucial foreign chips for local alternatives has previously hit a wall due to domestic chips not cutting the mustard on quality. However, times are changing, and recent strides in the performance of Chinese-made semiconductors are now making this ambitious switch increasingly viable. China's drive towards self-reliance in tech is ramping up.

Investing

VC in crypto ticks up as optimism returns (3 minute read)
Crypto venture capitalists are back in action, pumping a cool $2.5 billion into startups worldwide this last quarter, according to PitchBook. This influx of cash is a lifeline for startups still shivering from the crypto winter, which forced many to downsize drastically.

The thaw began late last year, partly fueled by a pivotal Grayscale court ruling that hinted at a possible approval for a spot bitcoin ETF, rejuvenating investor interest. Michael Anderson of Framework Ventures and Jeff Ren from OKX Ventures highlighted an uptick in investment activities spurred by new trends like the ordinals craze and the solana memecoin hype. This year, VCs are loosening up, investing across various stages, shaking off last year's cautious approach which was mainly focused on smaller, early-stage funding rounds.

How Will BlackRock Stock Trend After 2024 Q1 Results? (2 minute read)
BlackRock is gearing up to unveil its Q1 2024 results today, and the stakes are high. The financial giant has been on a bit of a roller coaster, with its stock surging 24% in the last six months. Last quarter, BlackRock beat Wall Street's expectations with a 7% year-over-year increase in revenue to $4.46 billion, buoyed by a 6% jump in base fees and an 11% rise in average assets under management, which hit $9.38 trillion.

The bigger picture shows BlackRock's stock climbing from $720 at the start of 2021 to about $805 now, a modest 10% gain compared to the S&P 500’s 40% increase over the same period. Despite BlackRock's wild ride of 27% gains in 2021, a 23% drop in 2022, and a 15% rebound in 2023, it’s clear they've lagged behind the broader market, particularly in the last two years.

CHEX surges 42% as Chintai focus efforts on RWA tokenization (3 minute read)
Chintai's native token, CHEX, has skyrocketed by 42% in the past 24 hours, snagging a trending spot in the U.S. This surge comes on the heels of the Singapore-based blockchain firm’s focus on tokenizing real-world assets (RWAs) like real estate and CO₂ certificates.

By integrating these assets into popular blockchains such as Ethereum and Solana through network bridges, Chintai is carving out a niche in the booming digital asset market. Armed with two fresh licenses from the Monetary Authority of Singapore, Chintai is now set to operate a regulated digital asset marketplace. This strategic move aims to attract institutional capital by offering a regulated, sustainable avenue into the digital world with a projected market cap of $16 trillion by 2030.

Echoing giants like BlackRock, which recently launched a bitcoin ETF and plans for an ether ETF, Chintai’s trajectory points towards the burgeoning potential of asset tokenization to revolutionize liquidity and efficiency across various sectors.

Money

How to Lie With Charts (2 minute read)
Despite the alarming headlines suggesting a housing market crash with median new home prices in the U.S. dropping from just under $500,000 to just over $400,000, the reality is less dramatic. This 20% dip, based on Federal Reserve data, doesn't signal a market crash but a shift in the housing landscape.

The drop is largely due to homebuilders adjusting to market demands by constructing smaller, more affordable homes. This strategic pivot is reshaping the market, particularly benefiting first-time homebuyers. It’s not a price crash; it’s an adaptation. Equating this shift to a crash is like saying beer prices are crashing because your local brewery started selling 12-packs at a lower price point than cases. The situation underscores the importance of digging deeper into data, a lesson from the timeless finance book, "How to Lie With Statistics" by Darrell Huff.

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