May Retail Sales, Good News on the Inflation Front, Bitcoin (BTC) Falls Below $23,000.00, Apple (AAPL) Revenue, Harrison Johnson, CFP®: Rule 72(t)

May Retail Sales
The retail sales numbers were again disappointing in May as month over month they declined 0.3%. Comparing to May 2021 they increased 8.1%, but inflation in the month was 8.6% meaning spending adjusted for inflation likely decreased. Many areas in the report did not keep up with inflation as clothing and clothing accessory stores only increased 6.1%, non-store retailers increased 7%, and some areas like electronics and appliance stores actually decreased compared to last year. One other major highlight was gasoline stations which increased 43.2% compared to last year. 

Good News on the Inflation Front
With the US increasing interest rates it has boosted the strength of the dollar especially against the Japanese yen. The dollar has now advanced 22% against the yen to a level not seen in 20 years. 

Bitcoin (BTC) Falls Below $23,000.00
Bitcoin has fallen below $23,000.00 today. So much for being an inflation hedge or safety from investing in the stock market. It is acting as we expected, a speculative investment that will not end well.

Apple (AAPL) Revenue
There is no doubt that Apple is one of the world's best companies, however; even with that standing the stock has fallen almost 30% from its high of around $183/share. What I wonder with this company having total revenues of nearly $400 billion, what will keep the excitement going and grow revenues? 

 

Harrison Johnson, CFP®: Rule 72(t)