The September 19th 2022 week will be one that the Wall Street will not forget soon. The Federal Reserve was restricting itself vigorously, there was hot inflation and the markets were preparing to suffer. Oracle was soaring, Apple was pursuing history and Elon Musk was selling again Tesla shares. This is all that shook the markets in one of the most turbulent weeks of that terrible year.
Oracle Stole the Show
Oracle rose by fifteen point six percent following its runaway earnings that it had beaten by twenty years of its record best single trading day. The net worth of Larry Ellison increased by sixteen billion dollars within one session.
The Numbers behind the Oracle Surge
Oracle had turned in profits on a per share basis of a dollar twenty one versus the expected one dollar eleven and a revenue figure of ten point three six billion vs. the projected ten point two eleven billion.
Ellison Raised Competitor Calls
Larry Ellison did not hold back during the earnings call where he not only lamented (unmined) competitors in regard to recent downtime problems but also did so in a loud way, which really shocked the investors and made such a splash throughout financial media for the entire week.
Apple Chased Three Trillion
In order to reach the three trillion dollars market cap milestone, regarded as the first ever publicly traded company to have a historic valuation, Apple only required an additional hundred billion dollars to do so.
The Magic Number for Apple
Apple had to reach a record of about one hundred and eighty two dollars and eighty five cents per share to be officially declared as the first three trillion dollar publicly listed company in the history of the world.
Tesla’s Elon Sells Again
Elon Musk has submitted two Form 4s which showed he sold around nine hundred and sixty five million dollars in Tesla stock in the form of exercised options and direct share sales throughout the week.
The Fed Lingered Large above All
All the market activity of the week occurred within the umbrella of the Federal Reserve rate announcement in the near future – investors were aware that another bold increase was going to be made and hedged themselves in the market all the week.
September Seasonality Stingy
There was no exception to the reputation of September 2022 as the worst month in the history of the stocks. Stock market S&P 500 went down drastically on the month with the rate fear and data on the inflation still plaguing the investor confidence.
FinTwit Was on Fire
Oracle sustainability, Apple valuation, soft landing by the Fed: Wall Street Twitter spoke about the idea of the sustainability of Oracle, or the perceived stock value limit on Apple, or generally, the possibility of having a soft landing in the economy, as practiced by the more experienced investors.
The Bigger Picture
The month of September 2022 has been one of the toughest periods, going through experienced investors in a generation. But history proves conventions do exist that make those the most uncomfortable weeks in markets that present the biggest long term opportunities.
