US stocks fell had their worst week since Silicon Bank’s collapse in early March as mixed corporate earnings and a downgrade of the US’s credit rating undermined sentiment. The blue-chip S&P 500 and technology focussed Nasdaq indices fell 1.5% and 2.5% respectively.
Shares in Apple, the world’s largest company with a market value of $2.8 trillion, fell nearly 5% on Friday after it reported that its sales slipped for a third consecutive quarter. iPhone revenue, which accounts for just under half the company’s total, of $39.7 billion was 2% lower than in the same period a year ago and iPad sales fell by 20%.
Revenue from its services division, which includes App Store sales, iCloud, Apple TV+ and Apple Music, rose 8% to a record high $21.2 billion on the back of adding 150 million new subscribers over the past 12 months.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.
