An early mourning (intentional use of the word), as I am attending a funeral today … so I am trying to get this out before I get ready to run out the door. Please forgive the typos.
While the S&P appears as if it will open with a small decline, tech stocks are showing an even greater drop as some of the “top weighted” names in the NASDAQ are showing signs of early session weakness.
I know I mentioned, maybe too many times, how much I like my Quest 3 VR headset and understand the hesitancy to pay hundreds of dollars for such a device … but I was surprised to learn in my overnight reading that Apple’s Vision Pro … its own VR headset … at cost of around $3,500 … has all but sold out due to high “pre-sales.” I mean … we are talking about something on the order of 150,000 of these sold … no pun intended … sight unseen. Will this finally catapult us into the world of VR … as I have incorrectly forecasted for years? Or will this end up like the Google Glass … introduced in 2012 … which, at a cost of around $1200 now sits in a box in my garage after two unexciting uses?
Getting back to markets … we might see volatility in the afternoon for it is … ta dah! … “Fed Day” … and we will hear Jerome Powell announce to the world the present views of our central bankers (highly subject to change, of course).
On the subject of views … I figure it proper to give another reminder that tomorrow, Thursday, Feb. 1, Emerald will host its annual “Groundhog Day” event … where the main topic is “The Innovation Economy: Innovation Starts Small” … at which the new research “whitepaper” will be released providing “… compelling innovation-driven investment ideas within the small cap space.” Registration can be found on the Emerald home page of www.teamemerald.com.
That about wraps it up for today’s abbreviated note.
I proofread this quickly and hope I didn’t make any errors as the “lasik” I had done a few years ago might soon need an adjustment.
I just hated wearing glasses, but really respect those who had them after I realized …
… they literally pay to see you.
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
cell: (856) 625-7915