Dec 27th, 2023 – Today the Dow Jones rose .30%, the S&P 500 increased .14% and the NASDAQ progressed further, up .16%.
Portfolio holding Eli Lilly (LLY) (Purchased 0.2 units @ $582.99) spiked 1.9% after it finished the acquisition of POINT Biopharma Global. A company with a focus on therapies for the treatment of cancer. Our portfolio holding is looking to increase their production capacity in the coming years in order to keep up with the demand for their Zepbound drug, which hit markets a few weeks ago.
Today, portfolio holding Microsoft (MSFT) (Purchased 0.1 units @ $374.44) was sued by the New York Times. The media company decided to take legal action, following allegations that Microsoft used copyright-protected pieces of texts from the NYT to train their chatbot (Chat GPT). Experts argue the New York Times will not win the lawsuit, given that it would be a major blowback to the progress in Artificial Intelligence.
Amazon (AMZN) has had a positive year in 2023, managing to maintain profit margins, whilst lowering delivery costs by adjusting their distribution centers. The company is expanding into many retail businesses in 2024, such as pharmacies, groceries and even fashion. These revenue streams, combined with the already established Prime Memberships and AWS, will certainly help it continue its astonishing climb into the next year.
Author: Stefano Rizzi