📈 Apple Tumbles

Plus: Wall Street's Biden Era Boom

Good morning & Happy Friday.

From Apple’s sharp stock drop to Trump’s TikTok rescue plan and the surprising surge of XRP.

Grab your Flat White and let's get into it! ☕️👇️

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Markets

🍎 Apple has worst day since August
Apple's stock tumbled 4% on Thursday, its sharpest drop since August, amid reports of weak iPhone sales in China. The tech giant's shares are now down nearly 12% from December highs, making it the worst-performing Big Tech stock of 2025 so far.

Market research firm Canalys revealed Apple slipped to third place in China's smartphone market in 2024, with shipments falling 17% year-over-year, while Vivo and Huawei surged ahead.

🇺🇸 Trump wants to ‘save’ Tiktok, but it’s not so simple
President-elect Donald Trump is reportedly exploring bold, unconventional moves to delay TikTok's looming US ban. One option includes an executive order that could postpone enforcement by several months. However, such a decision might clash with federal law, potentially triggering significant legal challenges over the months ahead.

 Hindenburg Research to shut down
Hindenburg Research, the US short-seller famous for its market-shaking reports, is shutting down operations. The sudden closure has sparked speculation about its practices and what led to this decision. The firm gained global attention in 2023 after allegations against billionaire Gautam Adani erased billions from his companies' market value.

🏦 Big US Bank Profits Surge as Biden Era Comes to a Close
Wall Street’s biggest banks are closing out the Biden years with record-breaking success, reporting their second-most profitable year ever in 2024. JPMorgan made history as the first US bank to surpass $50 billion in annual profit, while Citigroup saw record revenue in three of its key segments.

📈 XRP Volume Overtakes Bitcoin on Coinbase as U.S. Investor Interest Grows
XRP has overtaken Bitcoin as the most-traded cryptocurrency on Coinbase, signaling a shift in U.S. investor demand. While Bitcoin remains the top-traded asset on Binance, XRP's popularity has surged after Ripple CEO Brad Garlinghouse met with President-elect Donald Trump.

Speculation around a potential U.S. approval for a spot XRP ETF has further fueled the digital asset's rise, making it the top performer since November's election.

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