Data #1
Microsoft Sees 6% Lift From Ai
Why does this data matter?
Microsoft posted impressive Q4 results, surpassing expectations in various segments, particularly Azure and 365. Despite concerns about PC weakness and a high valuation, the read-through indicated sustained momentum for Azure into 2024. Last week we highlighted how optimization within tech spend was over and Microsoft confirmed this. Ai is now driving revenue, but is it masking a core Azure slowdown? Ai contributed 6% to Azure, up from the prior quarter. Now, we believe Ai is a fundamental shift in how we interact with products and services, but are Ai workloads today overstating the steady state usage? We will watch this closely.
Data #2
Apple Vision Pro Only Has Around 300 Native Apps
Why does this data matter?
The Apple Vision Pro is undoubtedly an elegant device, showcasing the essence of spatial computing, an area we believe will become important to the technology landscape. However, we hold the perspective that the future demands more compact headsets with more affordable prices, areas where the Vision Pro falls short. Priced at nearly $5k, including Apple Care and storage, the initial offering may seem steep, especially considering the relatively limited set of native apps. To truly leverage its immersive capabilities, the Vision Pro requires a more extensive ecosystem. Data from AppFigures indicates the presence of slightly over 300 apps designed for this experience. This is a small number and does NOT include apps like Netflix, YouTube, Instagram, or other habitual apps. It is also interesting to see such a low number of games and fitness, something that Meta Quest has proven to be its strong suit.
Data #3
Liquidity Coming Back with Record January Bond Sales
Why does this data matter?
Bond sales are resurging, with companies capitalizing on eased financial conditions to raise capital by issuing bonds into the market. Notably, January witnessed the highest bond sales on record for the month. For market investors, this signals strength, indicating that financial institutions and investors are embracing the notion of a more predictable economy in the future.
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