AnalytixInsight

In a volatile week, stocks rebounded from 2025 lows. 2025 volatility has not yet resulted in as many +/- 3% days as we saw in March 2020 (~15 days that month). Aided by Wednesday’s historic gains, Dow Jones was up 4.95% last week, S&P 500 gained 5.7%, while NASDAQ rose 7.3%. Notable tech gains included Apple, Nvidia, and Tesla. However, due to increased tariffs, Micron Technology raised prices on certain memory products, while Apple rapidly shipped 600 tons of iPhones from India to avoid immediate tariff impacts. Fearing a potential price increase, many customers reportedly flocked to Apple Stores to buy new iPhones and other products before they get more expensive. The president of the European Commission said Europe could tax digital ad revenues of Meta Platforms and Google in retaliation for US tariffs. MicroStrategy, said it will report an unrealized loss of US$5.91 billion from its bitcoin holdings, as a cryptocurrency selloff wiped out most of its recent gains. Broadcom is launching a new share buyback program of up to US$10 billion. The U.S. Secretary of Defense directed the Department of Defense to cancel US$5.1 billion in contracts with consulting firms including Deloitte, Accenture and Booz Allen Hamilton as part of efforts to slash government spending. Amazon CEO Andy Jassy forecasted AI costs would decline despite the company’s aggressive investments, earmarking up to US$100 billion for AI-related projects. Google Cloud introduced new AI tools and unveiled the Ironwood chip designed for complex reasoning tasks. In Canada, Sophic Client, Kraken Robotics secured $11 million in new orders for its underwater batteries, pushing its year-to-date battery orders to $45 million. Kraken also announced a new synthetic aperture sonar service for offshore energy markets launching July 2025.

Last week, Dow Jones fell 7.5%, S&P 500 lost 9.1%, Nasdaq Composite was down 10%, both near 11-month lows. Nasdaq is more than 20% below recent highs, and officially entered a bear markets. Major technology stocks including Meta, Amazon, Nvidia, and Apple fell sharply due to newly announced tariffs by President Trump. Several high-profile IPOs, including Klarna, StubHub, and eToro, have been stalled due to the escalating trade tensions and recent market volatility. Circle, however, filed publicly for an IPO a few days before the market’s latest leg down. Tesla reported its worst quarter since 2022 as deliveries fell well below expectations. Microsoft has pulled back on data center projects around the world. Apple is developing a revamp of its Health app to incorporate an AI -powered agent product to designed to replicate a doctor. Amazon’s new AI agent will shop third-party sites for you. Meta plans to introduce its first smart glasses with a screen by the end of this year, code-named Hypernova, with a price tag of over US$1,000 and features like hand-gesture controls and a screen for displaying photos and apps. In Canada, MDA Space announced it will acquire SatixFy Communications in an all-cash deal valued at ~US$193 million. Tiny acquired a controlling 66% stake in DJ software provider Serato for US$66 million. In news relating to Sophic Clients, Plurilock secured US$5.9 million in new federal and public sector contracts in the U.S. and Canada. ADM Endeavors reported fiscal 2024 revenues rose 11% to US$5.76 million, driven by growth in government sector sales and promotional products. Net income increased 136% y/y to US$324,311. Xcyte Digital’s subsidiary, Streamlined Communications, experienced rapid client growth as legacy conferencing providers phase out services.