Apple (AAPL Stock) the next big short and why Elon Musk thinks ESG is a scam? [Video]

Anthony Cheung Amplify

The Dow dropped 1,100 points on Wednesday, marking its biggest decline since 2020 as the sell-off this year on Wall Street intensifies. Is this the beginning of the end or are we just getting started?

In this episode, Piers and I look at some troubling signs from US retailers Target and Walmart this week and what their performance tells us about the macro environment.

Meanwhile, one of the biggest headlines for single stocks was that the infamous investor Micheal Burry of the 'Big Short' now has Apple in the crosshairs. Find out how his hedge fund is executing his bearish view in what he has described as the "greatest speculative bubble of all time in all things".

Finally, we talk ESG. A relatively new investment class in the asset management world, we look at where it sits in the investment spectrum and why Elon Musk thinks it's a scam!

Author

Anthony Cheung

Amplify

Anthony has spent over a decade working at the forefront of financial news.

EUR/USD looks weak below 1.1800

EUR/USD has slipped back under pressure, breaking through the 1.1800 support and drifting towards the weekly lows near 1.1770 ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with steady geopolitical tensions keeping its demand firm. Moving forward, the release of the German labour market report and flash inflation figures should keep European investors entertained on Friday.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.