——Apple Prepares for China’s 618 Shopping Festival; U.S. Home Prices Rise in Top 20 Cities; U.S. Consumer Confidence Surprises to the Upside; India’s Temperatures Surpass 50°C Again; T-Mobile Announces $2.4 Billion Acquisition; Elliott Invests $2.5 Billion in Texas Instruments; Former FTX Executive Sentenced to 7 Years
1. Apple Prepares for China’s 618 Shopping Festival
In April, foreign smartphone shipments in China reached 3.5 million units—most of them Apple iPhones. Shipments surged 52% year-over-year, signaling renewed momentum.
Apple began offering discounts with Chinese retailers earlier this year and has boosted shipments ahead of the June 18 shopping festival.
IDC notes that high-end smartphone buyers are upgrading less frequently, which poses challenges for Apple’s annual release cycle.
A recent Bloomberg survey found iPhone remains the most favored brand among Chinese consumers.
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2. U.S. Home Prices Rise in Top 20 Cities
In March, the S&P CoreLogic Case-Shiller Index tracking home prices in the top 20 U.S. cities rose 7.4% year-over-year, up from 7.3% in February—marking a slight acceleration.
Despite mortgage rates hovering near 7%, prices continue rising due to tight supply. Many homeowners are unwilling to give up low-rate mortgages. While inventory improved slightly last month, it remains historically low.
San Diego led the gains, followed by New York and Cleveland.
Northeastern cities are showing the strongest housing price growth nationwide.
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3. U.S. Consumer Confidence Surprises to the Upside
U.S. consumer confidence rose unexpectedly in May, climbing from 97.5 to 102—beating all economist forecasts.
The present situation index increased for the first time since January, while future expectations rose to their highest since July 2023.
Still, persistent inflation, record-high mortgage debt, and signs of a cooling job market continue to weigh on consumer sentiment.
Typically, consumer confidence dips ahead of presidential elections, but this month saw a reversal.
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4. India’s Temperatures Surpass 50°C Again
On Tuesday, the city of Churu in northwest India recorded a blistering 51°C (123.8°F), approaching the all-time national record.
Extreme weather in India is worsening with climate change, with more frequent floods, droughts, and tornadoes.
April marked the 11th consecutive month of record-breaking global temperatures. The intense heat poses serious risks to lives, infrastructure, and agriculture.
Authorities are urging residents in northern and western regions to stay indoors and avoid sun exposure.
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5. Elliott Invests $2.5 Billion in Texas Instruments
Texas Instruments (TI) reported $1.47 in free cash flow per share last year, with projections rising to $1.87 this year. Activist investor Elliott Investment Management has taken a $2.5 billion stake and is pushing for more shareholder returns.
TI has recently focused on expanding in-house manufacturing, which Elliott says has diverted capital from free cash flow generation.
TI argues the investments are temporary and will eventually support buybacks and dividends—but Elliott wants more discipline and better capital allocation.
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6. Lululemon Stock Down 41% YTD
Lululemon shares plunged 10% this week after Chief Product Officer Sun Choe stepped down, prompting a restructuring of the product and brand teams.
Year-to-date, Lululemon stock is down 41%, the worst performance in the S&P 500.
The brand benefited from the athleisure boom in recent years but has lost momentum after weak Q1 earnings and guidance.
Wedbush analysts said Lululemon’s recent results no longer justify its historically high valuation.
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7. Former FTX Executive Sentenced to 7 Years
Ryan Salame, one of the four top executives at collapsed crypto exchange FTX, has been sentenced to 7.5 years in prison.
In March, FTX founder Sam Bankman-Fried was sentenced to 25 years for defrauding investors. Salame had previously admitted to funneling millions in political donations to help FTX curry favor with U.S. lawmakers.
Salame’s attorney said he was shocked when he learned the extent of Sam Bankman-Fried’s fraud.
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本文内容来自《Financial Times》、《Bloomberg》，以及《The Real Deal》等多家财经新闻媒体。