HAPPY SATURDAY TO THE STREET
And welcome back to Street Tweets from The Street Sheet!
In the streaming wars, one household name has yet to crack Nielsen's streaming top 10: Apple TV (AAPL). Tubi beats it. Tubi.
But it has something few have proved able to maintain alongside performance: prestige.
Per new Antenna data, 32% of Apple's heavy viewers watched Shrinking in March, while Netflix's (NFLX) top show stalled at 25%. Others, like Severance, Pluribus, and Widow’s Bay, have proven cultural conversation starters and critical darlings.
The key differentiator? Apple offers 220 shows. Netflix offers 3,300.
2005 HBO wants royalties.
— Brooks & Cas
MARKET REVIEW & PREVIEW
SpaceX went public, minted the world's first trillionaire, and President Trump announced a deal to end the Iran conflict. The effect on the market was… net neutral? These major events were counterbalanced by another hot inflation report, which pushed expectations for a June rate cut even closer to zero.
The Federal Reserve takes center stage next week as policymakers meet for their latest interest rate decision. Any interest rate movement is viewed as highly unlikely, so investors will be parsing new Fed Chair Kevin Warsh’s comments to see whether rates ultimately look to headed lower, higher, or nowhere fast.
Buy the 29-point dip.
The Knicks erased a 29-point deficit in Game 3, capped by an OG Anunoby game-winner. Tonight's Game 4 (at 5:30 PM ET) could clinch their first title since 1973.
Their last championship came back when the Dow was under 1,000. Both charts only go up now, apparently.
16x? Try nearly 100x.
SpaceX (SPCX) debuted yesterday priced at $135 per share, raising a record $75B at a $1.77T valuation.
With full-year revenue forecast at roughly $20B, the actual multiple runs closer to 85x. Some analysts have flagged a multiple as high as 94x revenue.
Don’t be surprised if smart money heads for the airlocks.
