Good Afternoon Valued Clients, Friends, and Family,
Summer is officially here, and it is hard to believe that we are half-way through the year. Although many would like to forget 2020, it is a year that will no doubt be recorded in the textbooks. This week, even amid rising coronavirus cases, hope continues to grow that a potential coronavirus vaccine will be available more quickly than expected. In addition, Apple streamed their annual web developers conference and baseball is returning to the field.
With more states easing restrictions and Americans beginning to move about the country, there has been a surge of coronavirus infections in more than half the states across the nation. More young people are contributing to the increase of cases in recent weeks, due to not practicing social distancing measures and testing positive. However, there are a few states reporting a decrease in new cases, including New York, once the epicenter of the crisis, has moved into phase 2 of reopening their economy. Dr. Anthony S. Fauci remains cautiously optimistic that a vaccine will be available by the end of 2020 or early 2021, as several vaccines move into different stages of testing.
Apple (AAPL) shares reached a new high Tuesday, after holding their much anticipated 2020 Apple Worldwide Developers Conference (WWDC) on Monday. This conference was different before it even began. This is the first time Apple’s developer conference streamed exclusively online with no in-person event. They announced they will no longer be using Intel’s chips in their Mac computers and instead, will be producing the silicon chips in-house. Tim Cook, CEO of Apple, also gave a first look of its next major software updates, including iOS 14, which is set to officially launch in the fall of 2020.
We received some good news this week, with Major League Baseball owners voting to implement the start of the 2020 season. Major League Baseball (MLB) has come to an agreement with the Major League Baseball Players Association (MLBPA) to begin the season, that was delayed due to the coronavirus pandemic. After several months of negotiations, they have agreed to a 60-game schedule to play in empty ballparks, along with adhering to new health and safety protocols. On July 1st, players will report to spring training (summer camp), with an Opening Day of July 23rd or 24th.
As a reminder we are hosting our next virtual event, Part 1: Building Blocks of Portfolio Allocation, from our Apriem Portfolio Construction series, Tuesday, June 30th. Click below to register for the session you would like to attend.
As always, please reach out to us if you should need anything.
Stay safe and well,