TMS Ep599: Apple in 2024, Indian FDI in Dubai, LargeCap MFs, EAEU

2023 made a dent in Apple’s global business. The company not just ceded the top spot to its rival Samsung, but also posted its fourth straight quarter of revenue decline on a yearly basis. It was the longest slump for the US firm in two decades. And not just this, the tech giant also faced the wrath of regulators in China, in the US and in the European Union. So will 2024 give some breather to Apple? 

And it wasn’t just tech giant Apple. India was also a big draw for foreign investors last year. And thanks to the rising wealth, Indian investors too are increasingly investing in foreign shores. In the first half of 2023, FDI outflow to Dubai saw an increase of 65% compared to the same period last year. So what is driving increased Indian FDI into Dubai? 

Let us now see what is happening in India’s mutual fund industry. In the first 11 months of 2023, fund assets soared by 19%. These gains were largely driven by mid and small-cap equity mutual funds, where the former category saw inflows worth over 36,000 crore rupees during the period. By comparison, the large-cap equity mutual fund category saw net outflow of about 2,700 crore rupees. But, as valuations turn frothy in the broader markets, will the large-cap MFs find their mojo back this year? 

After the mutual funds, let us now turn our gaze to foreign affairs. Iran is now part of a free-trade zone spread across a vast Eurasian region. This trade pact is called Eurasian Economic Union and is being led by Russia. Listen to this episode of the podcast for answers.