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Everything Comes Full Circle, Apple Results, Rupee Rises et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Nov 2, 2018 1:05 PM 3 min read


Good evening reader,


Read through an interesting WSJ story today - speaks of how mobile phone makers are now creating smartphones having bigger displays which can...


wait for it...


...fold up like books!


Now isn't that lovely. After a decade long hoopla around technology, perhaps that's how things would come 'full circle'! :)


Consider a new device called the "Palm" i.e. a lighter less distracting phone (fewer apps & features) to complement your existing phone. Yes, you heard it. A second phone to help you get away from your main phone. 


Surely the full circle of technology can't get more ridiculous?  


Challenge accepted. As per a NYT story - Silicon Valley Parents i.e. couples working in the Valley, are trying super hard to ban screen time of their children. Boom.


The evolution of smartphones since release of the first iPhone kicked off with an overkill on how these things would change the world. Now everyone's wondering how they would destroy it.


As the Buddha said, it is the middle way of moderation between "the extremes of sensual indulgence and self-mortification", which shall ultimately triumph. 


Perhaps proponents and opponents in the technology debate should consider that thought.


Moving on to Top 6 Business Stories in our End Of Day Wrap Up:




IMF backs autonomy of Central Bank amidst the ongoing RBI-Govt row.

The International Monetary Fund (IMF) expressed support towards RBI's independence, stating the Central Bank's autonomy as of “utmost importance”.


The tussle between the two authorities was over differences with regard to policies for Public Sector Banks (PSBs), tightening liquidity in NBFC market etc.


Rupee appreciates to 72.52 against Dollar as Crude Oil prices continue to drop.

Rupee rose c. 1% and is trading at INR72.52/$ on back of falling Crude Oil prices, which have been weakening due to concerns over disparity in global demand and supply. This is the currency’s best performance since October 1.


However, according to Goldman Sachs, the loss of supply from Iran coupled with thin spare volume and strong oil demand may raise prices again. It forecasts Brent to hit $80/barrel by the end of the year.


HDFC Ltd Q2 results in line with estimates, net profit up 25% from last year.

HDFC Ltd's loan growth driven by home loans advanced to individuals belonging to low-income group. The group reported a slower growth in corporate loans as compared to retail.


HDFC’s consolidated loan book grew at 17%, whereas corporate stood at 13% and retail at 18% vs. last year.


Nearly half IBC cases dragged beyond deadline, 212 of total firms liquidated.

As per a Business Standard report and CARE Ratings data, out of 1,198 cases brought under the IBC plan, 816 (68%) are ongoing, 118 (10%) are on appeal, 212 (18%) firms have been liquidated, and 52 (4%) found new buyers in the past 2 years.


According to the report, 158 cases have flouted the 180-day limit, whereas 238 exceeded the 270-day period.




Apple reports fourth consecutive rise in revenue and profits on back of higher iPhone price and App Store sales.

The world’s most valuable company recorded its best year, as its quarterly earnings showed 20% growth y-o-y in revenue and earnings per share at $2.91 vs. an expected $2.78 EPS.


However, Apple’s shares were down c. 6.5% in after-hours trading as the company forecasts a lower than expected earnings for the holiday quarter.


Starbucks Q4 results push stocks as company reports record revenue up c. 10% from last year.

Starbucks Corp. beat estimates as it posted company revenue at $6.3bn, 10.6% more than last year. The coffee chain’s stocks hiked above 8% in after-hours trading as global sales also rose.


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