The Week Ahead (w/c 10th June 2024)

A look ahead at the big events that could be moving the market this week.

There are some big earnings releases this week - most notable being Oracle, Broadcom and Adobe in the US. Over in the UK there will be big announcements from Virgin Money and the behemoth that is Tesco.

Outside of earnings there are a couple of events that will attract big interest from the market.

First up is Apple's Worldwide Developer Conference. While other tech companies have been bending over backwards to show how into AI they are, generally Apple has been seen as being a bit behind. Investors will have a keen eye on any big AI reveals that are sure to be announced at the conference. Of particular interest are:

  • Any hookup with OpenAI.
  • Whether any new AI functionality will be backwards compatible, or whether consumers will be forced to buy new phones or laptops to get the functionality.
  • Whether Apple hints at any future AI announcements around the launch of iPhone 16.

The second big event is the Tesla shareholder vote on Elon Musk's pay packet. Robyn Denholm, chairman of Tesla's board has been urging investors to back the massive $56 billion payday. However, many investors are not in agreement. These include Norway's sovereign wealth fund (which owns just under 1%) which has indicated it will vote against.

It's a full-on drama and if things go against Mr Musk he's not above throwing a big old tantrum.

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