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Stock market today: S&P 500, Dow waver near records ahead of key inflation data

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Stock market today: S&P 500, Dow waver near records ahead of key inflation data

US stocks paused near record highs on Wednesday as investors digested fresh data that showed inflation made little progress toward the Fed’s 2% target in October.

After clinching record highs on Tuesday, the S&P 500 (^GSPC) fell about 0.1% at the open while the Dow Jones Industrial Average (^DJI) rose less than 0.3%. The tech-heavy Nasdaq Composite (^IXIC) was down about 0.5%.

The mood is muted in the wind-down to the Thanksgiving holiday, which will see markets shut on Thursday and close early on Friday. But the Fed is taking the fore again after being eclipsed somewhat by the debate over the impact of Donald Trump’s tariff plans and Cabinet choices.

The latest reading of the Federal Reserve’s preferred inflation gauge showed price increases were flat in October from the prior month, raising questions over whether progress in getting to the central bank’s 2% goal has stalled.

The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs and is closely watched by the central bank, rose 0.3% from the prior month during October, in line with Wall Street’s expectations for 0.3% and the reading from September. Over the prior year, core prices rose 2.8%, in line with Wall Street’s expectations and above the 2.7% seen in September.

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Traders currently see a roughly 34% chance the Fed holds rates steady at that meeting, up from roughly 24% a month before, per the CME FedWatch Tool.

Also out Wednesday, the second estimate of third quarter GDP was unchanged, showing the US economy grew at an annualized rate of 2.8% in the period. Meanwhile, weekly jobless claims continued to move lower with 213,000 unemployment claims filed in the week ending Nov. 23, down from 215,000 the week prior.

Trump on Tuesday tapped Jamieson Greer — a veteran of his first term — as US trade representative. Given Greer was heavily involved in Trump’s original China tariffs, Wall Street is assessing what his role could mean for the big new tariffs promised for the US’s top trading partners.

On the corporate front, Dell (DELL) shares sank over 10% after quarterly revenue fell short amid flagging PC demand. Peer HP’s (HPQ) stock also fell post-earnings, down 8%.

LIVE 6 updates
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  • Key inflation gauge shows price increases stayed flat from prior month

    The latest reading of the Federal Reserve’s preferred inflation gauge showed price increases were flat in October from the prior month, raising questions over whether progress in getting to the central bank’s 2% goal has stalled.

    The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs and is closely watched by the central bank, rose 0.3% from the prior month during October, in line with Wall Street’s expectations for 0.3% and the reading from September.

    Over the prior year, core prices rose 2.8%, in line with Wall Street’s expectations and above the 2.7% seen in September. On a yearly basis, overall PCE increased 2.3%, a pickup from the 2.1% seen in September.

    Read more here.

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  •  Josh Schafer

    JPMorgan issues S&P target of 6,500 for 2025 as ‘US exceptionalism’ rolls on

    Another Wall Street strategist sees a solid backdrop for the US economy and a broadening corporate earnings picture driving stocks higher in the year ahead.

    JPMorgan’s global equity strategy team led by Dubravko Lakos-Bujas sees the S&P 500 (^GSPC) hitting 6,500 by the end of 2025, joining the likes of Goldman Sachs and Morgan Stanley, who issued the same target. The target represents about an 8% increase from current levels.

    Lakos-Bujas wrote that continued “US exceptionalism,” continued earnings growth, and interest rate cuts from the Federal Reserve will be a tailwind for stocks in the year ahead. He argued the US is likely to remain the “global growth engine with the business cycle in expansion, healthy labor market, broadening of AI-related capital spending, and prospect of robust capital market and deal activity.”

    He added, “heightened geopolitical uncertainty and the evolving policy agenda are introducing unusual complexity to the outlook, but opportunities are likely to outweigh risks. The benefit of deregulation and a more business-friendly environment are likely underestimated along with potential for unlocking productivity gains and capital deployment.”

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  •  Josh Schafer

    Stocks waver ahead of inflation print

    US stocks paused near record highs on Wednesday as investors waited for a reading on the Federal Reserve’s favorite inflation gauge to provide clues to the path of interest rates.

    After clinching record highs on Tuesday, the S&P 500 (^GSPC) fell about 0.2% at the open while the Dow Jones Industrial Average (^DJI) rose 0.1%. The tech-heavy Nasdaq Composite (^IXIC) was down about 0.3%.

    The October print of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures index, is due for release on Wednesday morning at 10 a.m. ET. The focus is on whether inflation has stalled.

    Economists expect annual “core” PCE — which excludes food and energy — to have clocked in at 2.8% in October, up from the 2.7% seen in September.

  •  Josh Schafer

    Weekly jobless claims fall, GDP steady

    Weekly jobless claims rose less than expected last week, and hit a seven-month low, as the impact of labor strikes and severe weather continued to abate.

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    New data from the Department of Labor showed 213,000 initial jobless claims were filed in the week ending Nov. 23, down from the 215,000 the week prior and below the 215,000 economists had expected.

    Meanwhile, the number of continuing applications for unemployment benefits hit 1.9 million, up 9,000 from the week prior and the highest level since November 2021.

    Elsewhere in economic data, the second estimate of third quarter GDP came in unchanged, once again showing the US economy grew at annualized rate of 2.8%.

  • Jenny McCall

    Good morning. Here’s what’s happening today.

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  • Brian Sozzi

    About those potential Trump tariffs

    Shares of automakers General Motors (GM) and Ford (F) were throttled on Tuesday following Trump’s tariff threats toward China, Mexico, and Canada.

    GM lost 9%, while Ford dropped 3% as both companies have a strong presence in Mexico.

    But automakers aren’t the only companies that stand to be hurt by tariffs, of course.

    Think computers and T-shirts!

    Here’s what HP Inc. (HPQ) CEO Enrique Lores and Abercrombie & Fitch (ANF) CEO Fran Horowitz told me on the tariff topic.

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    Enrique Lores

    “Some of that [cost of potential tariffs] will have to go to consumers given what is the overall margin that we have in the categories. But again, we need to wait and see what the final tariffs are for us to define what the exact plan is going to be.”

    Fran Horowitz

    “When we understand truly what’s happening, we will have to make some adjustments, and we will adjust accordingly,It’s exactly what we did in 2018 when we had the same challenge. In 2024 we will not be receiving more than 5% or 6% of our US receipts from China. We’re taking a look at it country by country, but the agility that we’ve built into our supply chain is really what’s going to help us manage through this.”

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Finance

The true cost of being cancelled: Stars face financial ruin after being embroiled in scandal – but who has a buffer of cash and assets to fall back on if they never work again?

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The true cost of being cancelled: Stars face financial ruin after being embroiled in scandal – but who has a buffer of cash and assets to fall back on if they never work again?

Cancel culture is now so virulent and dangerous that stars are even buying insurance to protect themselves from financial and reputational ruin.

And no wonder, because MailOnline can today reveal how stars such as Phillip Schofield are losing millions each year after being sent into the celebrity wilderness.

One star whose work has dried up amid allegations of sexual impropriety claims to be £10million worse off – with just £320 left in one business, down from £432,583.

Exclusive analysis of publicly-available company accounts reveal how stars’ earnings have fallen off a cliff since leaving the public eye due to various scandals.

Mr Schofield’s long career means that while his gigantic earnings from This Morning, Dancing on Ice and advertising deals have vanished, he still enjoys the cushion of millions of pounds in cash and assets including several properties.

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Gino D’Acampo has built up a nest egg of around £6million from his ITV work and book deals over the past five years – but with no new shows on the way his earnings will take a hit of around £1million-a-year if the work runs out.

And for fallen stars like Gregg Wallace and Wynne Evans, their financial future could be bleak unless they can get their own careers back on track, especially without the comfort blanket of a BBC salary.

Noel Clarke, who was cancelled in 2021 and is fighting for his reputation in the High Court in a high-profile libel case with The Guardian newspaper, faces near-complete financial ruin if he loses the case.

Phillip Schofield is losing an estimated £1.4 million-a-year since quitting his job as This Morning presenter in June 2023.

The star, 62, left the show having admitted to having an affair with a junior colleague and then quit ITV altogether, leaving behind a host of well-paid presenting gigs.

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He was earning £730,000 for the This Morning presenter role with Holly Willoughby but also picked up a reported £45,000 an episode for Dancing on Ice, which runs for 10 episodes per year.

Presenting other shows like British Soap Awards, BBC game show The Cube, and an ITV series called How To Spend It Well all added to his lucrative annual earnings.

Away from the screen, Schofield has built up a cache of valuable assets, including properties.

Schofield admitted to a relationship with a much younger male colleague (pictured centre) and having lied about it to bosses – as well as his loved ones

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Phillip and Stephanie Lowe married in 1993 and raised two daughters, Molly, right, and Ruby, left. His daughters are also huge supporters - Molly is his publicist

Phillip and Stephanie Lowe married in 1993 and raised two daughters, Molly, right, and Ruby, left. His daughters are also huge supporters – Molly is his publicist

He sold a flat he was said to have used to entertain his lover for £1million last year, making a loss of £250,000 on what he paid for it.

He also owns a mansion in Henley-on-Thames outright, which is thought to be worth at least £5million.

In 2020 he picked up £1.2million for a book deal for his autobiography Life’s What You Make It.

Accounts for his two companies show they had assets of £3million in May 2023, soon after he quit This Morning. 

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Fistral Productions, for his TV work, held £2.137million in the year he quit This Morning. His wife Stephanie Schofield is listed as a co-director.

He also has a company called Fistral Property, with assets of £900,000. Mrs Schofield is also a co-director.

Potential loss: £1.4 million-a-year 

Gino D’Acampo 

Gino D’Acampo has seen the value of his company rocket by an average of £979,000-a-year for the last five years and is now worth just under £6million.

But it means he could now stand to lose £1 million a year – or potentially more – if his career had continued to blossom at the same rate.

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He lives in a £1.25million house in Hertfordshire, with wife Jessica, who is a director of his companies and the mother of his three children.

In February, ITV pulled all Gino D’Acampo’s shows from its upcoming schedules.

The TV chef, 48, has been accused of ‘sexually inappropriate’ behaviour spanning 12 years while filming his hit food and travel programmes. He denies the claims.

Mr D’Acampo has faced accusations including using sexualised and aggressive language on TV sets including ‘Gino’s Italian Express’, ‘Gordon, Gino and Fred’s Road Trip’ ‘Gino’s Italy: Secrets of South’, ‘Like Mamma Used to Make’ and ‘Emission Impossible’. 

ITV then changed its schedules to ensure he will not appear on our screens. But many of his shows remain available on its ITVX streaming service. 

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The new series of Family Fortunes, the iconic family gameshow hosted by Gino, was due for broadcast in early 2025 but has also been canned by ITV. 

Gino is the host of Family Fortunes. Episodes have been pulled and the new series canned

Gino is the host of Family Fortunes. Episodes have been pulled and the new series canned

The Italian star (centre), 48, who regularly appeared on ITV's This Morning (pictured) when Schofield was a co-host, has been 'cancelled' following multiple allegations of sexually inappropriate and intimidating behaviour

Gino D’Acampo, pictured with Holly Willoughby and Phillip Schofield, honours his promise to cook naked on This Morning if they won at the 2011 NTA Awards. Gino has become known for stripping off on screen

Gino D'ACampo and wife Jessica

Gino D’ACampo and wife Jessica

Gino ‘said and did whatever he wanted’ while working for ITV – as his alleged victims insisted they were ‘too afraid’ to make complaints at the time. 

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Sources told MailOnline that ITV began to ease out Gino in the wake of the scandal that engulfed the BBC over MasterChef’s Gregg Wallace, especially after Phillip Schofield’s bitter exit from This Morning.

But amid questions about why they didn’t raise incidents spanning 12 years, most of the women told ITV News they were ‘too afraid’ to make complaints about D’Acampo because they were self-employed and feared being ostracised in TV.

After a bumper few years, Gino’s company has seen its value increase by between £500,000 and £2.06million each year between 2019 and 2024. 

It currently has £2million in cash in the bank. The company is now worth £4.9million.

MailOnline estimates that his total net worth is £5.7million.

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Potential loss: £979,000-a-year

Gregg Wallace 

Gregg Wallace had been earning an estimated £400,000-a-year from his Masterchef role, which, as is suspected, will now be lost if he does not return to TV.

The former MasterChef host, 60, stepped down from hosting the BBC show with Jon Torode in November after multiple complaints of inappropriate behaviour on set.

Before his big break, the star used all his Cockney charms to create an appealing TV persona – ‘the fat, bald bloke off the telly who likes pudding’, as he once styled himself.

But he initially made his living as a greengrocer, although market traders he once worked alongside have claimed they were the ones left counting the cost of his success. 

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With his six-figure BBC salary on hold, Gregg has a separate fitness business on the side called Showme.fit which is currently worth £108,663. 

There is also a new health and food business, whose accounts are not yet available.

Ex-MasterChef judge Gregg Wallace was spotted for the first time in February after not being out in public since November 28, 2024

Ex-MasterChef judge Gregg Wallace was spotted for the first time in February after not being out in public since November 28, 2024

Wallace co-hosted Masterchef for 17 years alongside John Torode (left)

Wallace co-hosted Masterchef for 17 years alongside John Torode (left) 

But he stepped back amid an investigation into his conduct over a period of 17 years

But he stepped back amid an investigation into his conduct over a period of 17 years

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He also has £32,000 held in his company Lobster Enterprises Ltd, where his TV money is paid into.

George Allan’s Greengrocers, the company Wallace founded in 1989, was built into a business with a £7.5million turnover.

But last year a former manager claimed Gregg left behind £1.5 million in debt – and a host of disgruntled ex-colleagues – when the firm went under in 2000. 

In his 2012 autobiography, Life on a Plate, Wallace acknowledged: ‘We were owed millions and we owed millions to wholesalers in the market’.

He also described how he ‘didn’t have to pick up all the bills personally’ after Gregg Allan’s failed, since it was a limited company, and hit back at the idea that fame had resulted in a loss of focus on his part.

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‘Many of the traders had joined forces and said they refused to employ me,’ wrote Wallace. 

‘It wasn’t fair but they blamed me for George Allan’s closure. They thought I’d got too fancy and big for my boots, being on telly now, and I let it all go to pot.

‘Nothing could’ve been further from the truth, though. It’s always the way: the last one out to turn off the lights, gets the blame.’

Gregg founded George Allan’s Greengrocers in 1989 and built the company into a business with a £7.5 million turnover

Gregg founded George Allan’s Greengrocers in 1989 and built the company into a business with a £7.5 million turnover

In 2014 Gregg was forced to close his Wallace and Co restaurant in Putney, South West London and sell its parent company Wallace Cafes.

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Since then he has relied on his £400,000-a-year MasterChef salary, which is now hanging in the balance.

Much of the earning pressure is now on his ShowMe.Fit app, which he advertises using his popular Instagram account. But it emerged last year that he borrowed £70,000 to keep it going.

It is currently worth £108,663, according to the accounts.

Lobster Enterprises Ltd, where his TV cash is paid into, paid tax suggesting it made a £400,000 profit. But it is worth £32,000, according to the latest accounts.

The shamed Masterchef star, 60, also set up Gregg Wallace.Health after he himself shed five stone, with the business offering recipes, advice from experts and frozen ready deliveries.

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The website reads: ‘Ready to transform your health and feel your best? – no risks, just results. Cancel anytime’.

However in recent weeks fans who signed up have furiously taken to review bible Trustpilot and claimed they are being incorrectly charged and are struggling to get their money back.

One customer fumed: ‘What a scam. I cancelled my membership when they changed apps. However [it] managed to do an auto renewal of my membership and deducted an annual subscription for a non functioning App. Getting no reply on their email for a refund. Customer service terrible and would not recommend them’.

Potential loss: £400,000-a-year 

Noel Clarke 

Noel Clarke said that his work completely dried up the moment The Guardian story about his alleged sexually inappropriate behaviour was published.

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In court papers he has detailed more than £10million in lost earnings since the article in April 2021.

One company he still runs called Astonishing Entertainment Limited, had assets of £432,583 in the 12 months up to the end of March 2021, when the allegation was made.

The same company now has just £320 according to the most recent accounts which cover the 12 months to the end of March 2024.

His company Unstoppable Film and Television Limited was bought by powerful TV production company ALL 3 Media, which was behind Fleabag, in 2018, but Clarke and business partner Jason Maza stood down in August 2021 after the Guardian claims were published. 

Noel Clarke arrives at the Royal Courts of Justice this week for his libel case against The Guardian

Noel Clarke arrives at the Royal Courts of Justice this week for his libel case against The Guardian

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The company had assets of £3.3million in the months before the bombshell newspaper claims.

In court papers Clarke catalogued the earnings he was losing as a consequence of being cancelled.

They were a Sky TV show Bulletproof, series 4, where he lost his fee for acting in 10 episodes – £585,000, his fee for writing two episodes – £90,000 – his fee for directing two episodes – £90,000 – and anticipated royalties of £250,000.

The Guardian article came out midway through an ITV series Viewpoint which was immediately taken off the air.

But a second series had already been commissioned meaning he lost his fee – £270,000, anticipated royalties of an estimated £200,000.

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Advanced plans for a Channel 5 TV show Highwater which would have begun shooting in winter 2021 meant he lost a producer bonus – in the region of £60,000.

A BBC TV show called Crongton was ‘greenlit’ was ditched and meant he would not get a producer bonus – in the region of £60,000.

Clarke is known for his role in Doctor Who as Mickey. He is pictured here alongside Billie Piper who played Rose Tyler

Clarke is known for his role in Doctor Who as Mickey. He is pictured here alongside Billie Piper who played Rose Tyler

Noel Clarke pictured as DC Martin Young in the ITV Series Viewpoint

Noel Clarke pictured as DC Martin Young in the ITV Series Viewpoint

A StudioCanal movie Something in the Water would have earned him a producer bonus in the region of £40,000.

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He would also have earned a minimum salary from his ex production company Unstoppable Film and Television of £1.25million over 10 years not including raises or bonuses.

He also said the projected approximate value of shares in Unstoppable Film and Television, which he says has now been ‘wiped out’, would have been £7million.

Potential loss: £10million 

Wynne Evans

Wynne Evans has almost £1million in cash and assets sitting in the bank, his latest accounts reveal.

But he has had to step away from the public eye after making a lewd joke that saw him have to leave the lucrative Strictly Come Dancing tour this year. 

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Evans, 53, who made a sick sexual comment about dancer and broadcaster Janette Manrara, has also been replaced in his BBC Radio Wales show. 

Wynne Evans Ltd handles the majority of his media earnings, including his Go Compare commercial work.

GoCompare has repeatedly refused to say whether they are going to sack Wynne from his role, which is believed to worth at least £200,000-a-year. 

Wynne Evans is said to earn £200,000-a-year as the face of Go Compare

Wynne Evans is said to earn £200,000-a-year as the face of Go Compare

The Go Compare star reportedly believes his reputation has been unfairly left 'in tatters' after he apologised for a vile remark aimed at tour host Janette Manrara, when footage emerged of the comment at the tour's press launch

The Go Compare star reportedly believes his reputation has been unfairly left ‘in tatters’ after he apologised for a vile remark aimed at tour host Janette Manrara, when footage emerged of the comment at the tour’s press launch

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Accounts for year to end of May 2024, filed in February show he has cash and assets of £734,830 – down from £761,798 the year before. 

He paid £12,186 in tax.

It does not include what he was paid to be on Strictly and its live tour before he was forced to walk away from.

He owns a flat in Croydon bought for £198,000 in 2014. It is now worth an estimated £288,000. 

His ex-wife Tanwen Evans owns a home in Cardiff bought for £465,000 in 2013, now worth £875,000.

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He has a management company which manages the flat in Croydon but it is dormant.

But he disbanded another company seven years ago and he is one of many director-board members of a Opera theatre called Grange Park Opera in West Horsley.

When the Go Compare and Strictly star discussed the house he moved into after his divorce he described it as ‘sad and derelict’, backing onto busy a railway track and saying it cost £500,000 to make it fit to live in.

Back in January, the opera singer, 53, stepped down from the Strictly Come Dancing live tour after coming under fire for making a vile remark aimed at host Janette Manrara [pictured with Katya Jones]

Wynne Evans ‘ lawyers have reportedly compiled a 30-page dossier to take to showdown talks with the BBC as he fights to keep his beloved radio job

Wynne previously revealed he hit 'rock bottom' at the end of his marriage to Welsh violinist Tanwen (seen together in 2011)

Wynne previously revealed he hit ‘rock bottom’ at the end of his marriage to Welsh violinist Tanwen (seen together in 2011) 

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But pictures unearthed by MailOnline revealed that the stunning Edwardian villa was apparently in immaculate condition, with well presented rooms and gardens, packed with period features and in good condition.

And at more than £700,000 it was more than four times the then average property price for Cardiff.

In a recent interview discussing his 2015 divorce, the opera singer was bemoaning the state of the house in Cardiff which he bought after splitting from Tanwen and moving away from his two children.

He claimed the five-bedroomed house was ‘all he could afford’ and said he had spent £500,000 on improvements.

The house with three bathrooms in the leafy area was described at the time he bought it, in 2016, was certainly dated, and needed some modernising, but according to Evans it had ‘boarded-up windows’ and his then teenage children had to sleep in tents in their bedrooms during early visits. 

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Potential loss: At least £200,000-a-year 

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Apple (NasdaqGS:AAPL) Sees 10% Price Dip Despite Launch Of MacBook Air With M4 Chip

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Apple (NasdaqGS:AAPL) Sees 10% Price Dip Despite Launch Of MacBook Air With M4 Chip

Apple recently rolled out several innovative products, such as the MacBook Air with the M4 chip and the high-performance M3 Ultra chip. Despite these advancements, Apple’s stock saw a 10% decrease over the past month. This downward trend coincides with the broader market’s four-week slump, driven by economic uncertainties and the impact of new tariffs. Although Apple’s announcements, including the iPhone 16e and its investment plans in the U.S., aimed to bolster its position, they were overshadowed by the overall market sentiment. The stock market’s turbulence, highlighted by a 3% decline in the Dow and a 2% slip in the S&P 500, along with investor concerns over inflation and economic growth, played a significant role in affecting Apple’s share price. Amidst these challenges, Apple’s new initiatives and partnerships may still hold potential for future growth as broader economic conditions stabilize.

Gain insights into Apple’s past trends and performance with our report on the company’s historical track record.

NasdaqGS:AAPL Earnings Per Share Growth as at Mar 2025

Explore 20 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research.

Apple has experienced significant success over the last 5 years, with a remarkable total return of 283.76%. Its strong performance is partly attributed to innovative product releases and expansion efforts that have strengthened its market presence. For instance, the introduction of the iPhone 12 series with 5G capabilities in October 2020 marked a significant advancement in its product lineup, increasing consumer demand. Moreover, Apple’s strategic partnerships, like the collaboration with CVS Health in September 2020 for Apple Fitness+ access, expanded its services ecosystem, fostering client engagement.

Additionally, Apple’s commitment to sustainability has bolstered its brand reputation. The launch of 100% recycled materials in the MacBook Air in June 2023 highlighted its aim for carbon neutrality by 2030. Financially, Apple has maintained investor confidence through substantial share buyback programs, including a US$19.10 billion repurchase from January to April 2023. Despite a few legal challenges, such as the US$502.8 million patent infringement verdict in October 2020, Apple’s growth trajectory remained robust, outperforming both the US Tech industry and the broader market over the past year.

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Are you invested in Apple already? Keep abreast of every twist and turn by setting up a portfolio with Simply Wall St, where we make it simple for investors like you to stay informed and proactive.

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A former stockbroker explains how real estate became his 10-year path to financial freedom after falling behind on retirement savings

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A former stockbroker explains how real estate became his 10-year path to financial freedom after falling behind on retirement savings
  • Brannon Potts shifted to real estate investing to achieve financial freedom in his 50s.
  • He does ‘build-to-rent’ projects in Fort Worth, Texas, and has scaled up to 10 doors.
  • Once he gets to 20 doors, he expects to have enough cash flow to retire early.

After years of working in banking and finance, Brannon Potts found himself behind on long-term savings.

“I was in my 40s and I hadn’t really gotten, in earnest, to saving for retirement,” he told Business Insider. “And I knew that the power of time was now a liability for me.”

Potts, 53, began his career as a stockbroker before transitioning to commercial lending. In 2006, his dad asked him to join the family business and take on the role of CFO, which he did until the business sold in 2010.

At that point, “the market was rough and I was trying to decide what I was going to do,” said Potts. It occurred to him that a pivot to real estate could be a smart career move — and help him hit a lofty financial goal: achieving financial freedom in his 50s.

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When he was working on loan products for a bank earlier in his career, “I got to sit down with some people that were multimillionaires,” he said. “I would ask them, ‘How did you make your money?’ And what I found was most of them either made their money in real estate or kept their money in a lot of real estate.”

Rather than jumping straight into the investment side of real estate, he decided to learn as much about the industry by first working in sales and, eventually, starting a property management company.

“I knew I wanted to eventually own properties,” said Potts. “Why not stay in the same industry and have a company that manages my properties for me and manages properties for others?”

By 2020, with about a decade of industry experience under his belt, Potts felt prepared to invest in his first property.

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The investment strategy that’s catapulting him to financial freedom: Build-to-rent

Rather than search his market, Fort Worth, Texas, for deals, Potts decided to build his own rental properties. He grew up in a home built by his parents and followed in their footsteps, constructing each of the homes that he and his wife Mindy have resided in.

“I noticed a pattern when I was building my houses: Every time we built, it had equity over and above the cost of the build,” he said. “I’m like, well, then why don’t I do it with rentals?”


brannon potts

Potts owns one short-term rental: a beach house that his daughter named “Turtle Ransas.”

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Courtesy of Brannon Potts



He started two “build-to-rent” projects simultaneously in 2020: a beach house in Port Aransas that he and Mindy converted into a short-term rental and a fourplex that they filled with long-term tenants. Both projects wrapped in 2021.

Over the next couple of years, the couple expanded to 10 doors. As of March 2025, they have two more under construction and expect to have a total of 12 completed doors by mid-2025. They’re all long-term rentals except the beach house. BI viewed owner statements to verify his property ownership.

The short-term rental is “just about break even,” he said. “So, in a sense, the cash flow is paying the mortgage down. And, it’s appreciated. It’s doubled in value.”

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Cash flow wasn’t the primary objective of this project, he added: “It came down to, we wanted to have a beach house, and really the only way we could do it was if we made it a rental and stayed in it a couple of weeks a year.”

The long-term rentals have each produced positive cash flow from the get-go — “I wouldn’t do them unless they did,” he said — and, as of 2025, are profiting, on average, $330 a month per door. That’s about $40,000 a year of relatively passive income, as his properties are new builds and don’t require much maintenance or attention.

He doesn’t think he’d get close to those numbers if he bought pre-existing properties: “The resale market is a little bit harder to pencil out and work financially.” Plus, he’ll be able to pass on newer properties to his family. “If I’m building brand new and I’m leaving that legacy for the family, by the time I’m gone, these properties are only 25 to 30 years old. They’re still in great condition, versus 70- or 80-year-old properties, so that’s another factor. This is a long-term plan for my heirs.”

Investing in real estate vs. the stock market

For Potts, who set a lofty goal and was working with a relatively tight timeline, investing in real estate rather than the stock market made more sense.

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“I had a goal to get to financial freedom in my 50s, and I knew I couldn’t do it any other way but through real estate,” he said. “If you do this well, it’ll take about 10 years. You can get to financial freedom much quicker versus using a 401(k), which is 30-plus years.”


brannon potts

Brannon and Mindy Potts reside in Fort Worth, Texas.

Courtest of Brannon Potts



He’s also seeing much higher returns than he would if his money was in a fund tracking the S&P 500, for example.

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“I was wanting at least 10% cash-on-cash return,” he said. Once he finishes doors 11 and 12, “my average cash-on-cash return is 27%.”

He expects to hit financial independence and have the option to retire — he still runs his property management company — once he gets to 20 doors, which he plans to do in the next five years.

“It’s a much quicker path,” he said. “Plus, the asset produces cash flow to pay the bills so you don’t have to sell the thing that you own as equity to pay the bills — it’s producing the cash flow, versus, with stocks and bonds and a 401(k), you’re going to have to sell the stock to create the cash. And, the cash flow is usually tax-free. The IRS tax code is written for owning rental properties.”

Once he retires, Potts envisions himself spending more time at the beach and with his kids while growing his YouTube channel, Build2Rent Investing and Financial Talk, and helping others use real estate investing as a wealth-building tool. Part of the reason he fell behind on retirement savings in the first place was a lack of financial literacy, he said: “I just got it together probably in my 40s, and I feel like I really got it together well, but we didn’t do well because we weren’t taught.”

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He’s learned the importance of holding his money “accountable,” he said. “That’s what people that reach financial freedom do. If you treat your money well, it’ll come back with friends. If you treat your money poorly, it’ll leave and go to somebody else who treats it better. So, I want to treat my money well. I want to hold it accountable to making good returns.”

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