👊 Huawei showed Apple

China set a (potentially too) ambitious economic target | Apple's iPhone tanked in China | [Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for March 6th in 3:14 minutes.   👀 You might've missed bitcoin's road to $60,000. So make sure you join us for [The Rise of Bitcoin ETFs]( at 5pm UK time today – you'd hate to miss out again. [Grab your free ticket]( Today's big stories - China announced an economic growth target of 5% for this year, but the country’s planned methods left investors less than convinced - These five simple rules will help you know for sure when it’s time to sell – [Read Now]( - Apple's iPhone sales in China dropped off by nearly a quarter at the start of the year High Five [High Five] What’s going on here? China [revealed]( that it’s shooting for 5% economic growth for the second year in a row, a lofty target given the country’s less-than-celebratory state. What does this mean? China’s economy doesn’t have it easy: the country’s population is aging, prices are falling, stocks are creaking, and the property market is as wobbly as ever. Yet, the Chinese government announced an ambitious 5% target for economic growth this year. That might be the same as last year’s goal, but it’ll be a lot harder to achieve: China was still in full-on lockdowns in 2022, so it was much easier to have a better year by comparison in 2023. Still, the country only just scraped by that target last year, with some critics speculating that the real figure was actually lower than the official result. Why should I care? Zooming out: Less isn’t always more. China’s plan involves issuing one trillion yuan ($139 billion) in “ultralong” government bonds for only the fourth time in 26 years. Essentially, that means it’s selling government debt to investors to bring in some short-term cash. That lines up with this year’s budget deficit goal – the difference between money coming in and going out – of 3% of the economy. Mind you, investors had been waiting for some more dramatic initiatives. After all, without bolstering consumer spending, it’s hard to imagine China hitting that 5% target. The bigger picture: China’s smartening up. US stocks rode the tech trend all the way to the top of the world’s stock markets last year. No wonder, then, that China’s hoping to pull off something similar. The country’s investing 10% more into science and technology research, keen to fund innovation in future-shaping sectors like electric vehicles, hydrogen power, pharmaceuticals, and aviation. That’ll take some time to pay off – but if it does, China could become self-reliant technologically and kick the US off its throne. You might also like: [China's getting older, but there could be some spry investing opportunities in that.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=High Five&utm_campaign=daily-global-06-03-2024&utm_source=email) Analyst Take How To Know When It’s Time To Sell Your Stocks [How To Know When It’s Time To Sell Your Stocks]( By Theodora Lee Joseph, CFA, Analyst The S&P 500, Japan’s Nikkei, Nvidia, [bitcoin]( have all been hitting all-time highs lately. Those new heights can be exhilarating, but they can also make you feel [a tad light-headed](. So if your finger is hovering over the “get me out of here” button, have a look at [the five rules]( the experts use to guide their exit decisions. That’s today’s Insight: [a timely reminder of the five savvy “sell” rules the pros live by](. [Read or listen to the Insight here]( SPONSORED BY CFA INSTITUTE Finance isn’t fair – but it could be. The number of women in CFO and CEO positions has reached its all-time high. But still, women are underrepresented in high-up investing circles, making up just 9% of global Investment Committee members. That’s partly because women have long been denied access to the investing sphere, and unfortunately, they still face specific challenges in the finance sector today. [CFA Institute]( is on a mission to help more women feel financially confident, whether it’s for their own personal use or for a career. By working through [the Investment Foundations Certificate]( in your own time, you’ll gain a solid understanding of the fundamentals of finance and a certificate that puts your wisdom into words. So if you’re ready to break barriers, you can [sharpen your skills with CFA Institute](. [Find Out More]( When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( The Bitter Fruit [The Bitter Fruit] What’s going on here? Apple’s iPhone sales were 24% [lower]( in China during the first six weeks of this year versus last, after Huawei took more than one bite at the Apple. What does this mean? China’s shoppers are usually a reliable crowd for luxury clothing stores, high-end potion and lotion makers, and tech companies. But now they need to watch their wallets, they’ve ditched their souped-up nice-to-haves. The result: the Chinese smartphone market shrunk by 7% in the first six weeks of this year compared to the same time last year. That explains why Apple has struggled to shift its new iPhone 15, with the model selling a lot slower since its September debut than previous releases. It hasn’t helped that Chinese brand Huawei is winning customers back onside, while other local firms like OPPO, Vivo, and Xiaomi have rolled out competitive deals for cost-conscious shoppers. Why should I care? For markets: Good job Apple loves a challenge. Apple’s stock price has fallen 9% this year, handing the title of the world’s most valuable company back to Microsoft. Goldman Sachs removed Apple from the list of its highest-conviction investments, too, not long after Warren Buffett’s Berkshire Hathaway trimmed its holding of the stock in the final quarter of last year. To make matters worse, the European Union slapped Apple with a €1.8 billion ($2 billion) penalty on Monday, alleging that was making it harder for customers to explore different music streaming services. The bigger picture: Hooray for Huawei. Even though Apple has resorted to rare discounts, the iPhone is still stuck as the fourth-most popular smartphone in China. Meanwhile, Huawei has nabbed second place. And when Huawei isn’t tucking into Apple’s dwindling market share, it’s carrying China’s chipmaking ambitions on its shoulders: last year, the Shenzhen-based firm designed and produced a semiconductor more advanced than the US thought was possible, only five years after the firm nearly crumbled at the hands of stateside sanctions. You might also like: [How to analyze a stock in five easy steps](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=The Bitter Fruit&utm_campaign=daily-global-06-03-2024&utm_source=email) 💬 Quote of the day "It is easier to prevent bad habits than to break them." – Benjamin Franklin (an American polymath, a leading writer, and statesman) [Tweet this]( SPONSORED BY GRAYSCALE Welcome to crypto’s new era Bitcoin’s probably more accessible than you expect. After all, most new technologies tend to get a tricky rep early on. Boiling-water taps, video doorbells, the first smartphone to come with a tiny pen. Investors use [cryptocurrencies to diversify their portfolios]( and invest in emerging technologies. And now, you could do the same from your brokerage account, where your stocks and bonds sit. That’s all thanks to [Bitcoin spot ETFs](. And if you’re interested in exploring crypto in a familiar way, you’ll want to check out [GBTC: the world’s biggest* Bitcoin ETFs](. It’s got the reputation to back it up: [GBTC is sponsored by the world’s biggest* crypto asset manager, Grayscale](. [Find Out More]( Important Disclosures*Based on AUM as of 1.31.24. Grayscale Bitcoin Trust (BTC) (the “Trust”) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Trust has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at [www.sec.gov.]( Alternatively, the Trust or any authorized participant will arrange to send you the prospectus (when available) if you request it by calling (833) 903 - 2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101. Foreside Fund Services, LLC is the Marketing Agent for the Trust.An investment in the Trust involves a high degree of risk, including partial or total loss of invested funds. The Trust holds Bitcoins; however, an investment in the Trust is not a direct investment in Bitcoin. As a non-diversified and single industry fund, the value of the shares may fluctuate more than shares invested in a broader range of industries. Extreme volatility, regulatory changes, and exposure to digital asset exchanges may impact the value of Bitcoin, and consequently the value of the Trust. Digital assets are not suitable for an investor that cannot afford loss of the entire investment. There is no guarantee that a market for the shares will be available which will adversely impact the liquidity of the Trust. The value of the Trust relates directly to the value of the underlying digital asset, the value of which may be highly volatile and subject to fluctuations due to a number of factors. We use the generic term “ETF” to refer to exchange-traded investment vehicles, including those that are required to register under the Investment Company Act of 1940, as amended (the “40 Act”), as well as other exchange-traded products which are not subject to the registration of the ‘40 Act. The Fund is not registered under the 1940 Act and is not subject to regulation under the 1940 Act, unlike most exchange traded products or ETFs. 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