March 19, 2024 Market Moment
Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
3/19/2024
- Microsoft has overtaken Apple as the world's largest company, with a market cap that is $365 billion larger. This reversal marks a significant milestone, with Microsoft's last comparable lead over Apple dating back to July 2001. 1
- One reason stocks tied to recent weight loss drugs have risen rapidly is because obesity has surpassed hunger as the leading form of malnutrition. In 1990, roughly 226 million people were considered obese compared to 659 million that were underweight. Now, more than 1 billion are considered obese (1 in 8) while 532 million are underweight. 1
- 2 out of every 5 Americans are postponing health care needs due to cost concerns. Of the 40% of people who delayed care due to cost, 19% resorted to working a second job to pay for health care, and 31% felt compelled to lie to their bosses about their activities. 2
- Tesla stock has now fallen 32% this year. The company has wiped out more than $245 billion in market value and has been pushed off the list of the 10 biggest companies on the S&P 500. It has also cost Musk his “world's richest man" status. 3
Sources
- MFS - “Beyond the News”
- Plan Advisor – "How Americans' Health Care Costs Affect Their Work and Savings”
- Bloomberg - "Tesla Gets Tagged with Once- Unthinkable Call: Sales Will Fall"
*Past performance is not indicative of future performance
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This desk commentary is for informational purposes only
Carol Ann Fernandez, Rob Michel, Grier Vacek
(609) 631-8231
www.gleneagleadv.com
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