Amazon GO

With the first shop located in Seattle, Washington, Amazon's are looking to conquer the highstreet as well as the online shopping markets, with the emergence of their checkout-less 'Go' stores. Source: SounderBruce (CC BY-SA 4.0).

As we near the end of a tough, long first month of the year, earnings reports from Q4 have come to the forefront this week. Many of the major US tech companies have, or will be releasing their reports this week, something that gives analysts an overview of how each firm is performing compared to previous forecasts.

Elsewhere, the pound has hit a high against the dollar, a mere month and a half away from being offered at parity in some airport exchanges. Sony becomes the latest firm to leave the UK off the back of Brexit, and Amazon keeps pushing the technical-evolutionary boundaries by trialling an autonomous delivery service.

Apple the latest FAANG company to release earnings report

FAANG and other major tech companies are set to release their Q4 earnings report throughout the next week. It comes after Intel Corp. stock fell 8%, and Netflix 5%, in the direct aftermath of the release of their reports, with the pair both falling short on revenue. 

Apple could become the latest casualty following the detrimental impact of the partial Chinese ban of iPhone models. The US giant had struggled in the final month of 2018 amidst a fierce patent battle with fellow American company Qualcomm. A Chinese court granted Qualcomm an injunction against Apple, which saw the latter’s price fall drastically. It has since picked back up, but will their earnings report (out Tuesday 29 January) set them back once again? Perhaps the hit has already been taken, and Apple’s price won’t change significantly as traders are already anticipating a poor report.

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Price of Apple Inc. as of 28.01.2019. Source: ETX TraderPro 

Amazon delivering the future with latest venture

Amazon is delivering us the future… and we may not be entirely ready for it. Autonomous delivery is nothing new. Amazon has experimented with drones in the last couple of years, but their latest quest to bring about a technological revolution took the form of their ‘Amazon Scout’ robots.

Testing is on-going in Washington (the state, not the city), with six of the small trucks delivering around the Snohomish County region. Despite technically being a vehicle, they will operate on pavements and only travel at walking pace. This concept is no revelation, with similar ideas in practice on a regional basis, courtesy of a number of other tech companies. But given Amazon’s stature, this futuristic concept now carries a lot more weight in terms of future global implementation.

Be sure to watch out for Amazon’s Q4 earning report, released on Thursday 31 January.

Dyson and Sony the latest Brexodus departures

Back onto the hot topic of Brexit – more specifically the Brexodus that we alerted to last week.

The picture read for further grim reading, as Sony became the latest major company to abandon the UK as they relocated their European headquarters to Amsterdam. After a week of fluctuation, Sony’s price has somewhat stabilised recently. Will this continue or will further Brexit deliberations cause the fluctuation to return?

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Price of Sony as of 28.01.2019. Source: ETX TraderPro

Despite cutting 800 jobs, Dyson’s future is looking a little healthier. They’ve migrated from the UK across to Singapore, a country that has a free trade agreement with the EU. The cat has firmly been put among the pigeons with the move though. The firm’s boss James Dyson is an avid Brexiteer who was influential in the result of the referendum, but is now being accused of hypocrisy. His decision to jump ship, with a no-deal Brexit looking more likely by the day has irked many people. Dyson himself refutes claims that the move is hypocritical.

Pound reaching highs against the dollar

GBP/USD has reached highs not seen since mid-October last year. One pound is being traded at around the $1.31700 mark, despite dropping well below the $1.2500 level (its lowest since April 2017).

This comes off the back of reports of DUP support for Theresa May’s Brexit plan. The DUP MPs had been reluctant due to Irish border concerns, but intentions from May to get assurances from the EU to allow for a soft border seems to have swayed opinions.

Will this strength of the pound continue, or has it reached its peak? Trade a range of foreign exchange markets, as well as the companies we’ve discussed, on our award-winning TraderPro platform.