WS #16504
Global smartphone shipments declined 20% year-over-year in Q3, the lowest total in years, as rising prices crush demand. Alphabet missed earnings expectations, and DoorDash confirmed its acquisition of Instacart, signaling consolidation in a pressured logistics market. These developments highlight a broader consumer demand destruction trend that contrasts with the energy sector's inflationary gains, weighing on tech and consumer discretionary valuations.
Tech and Consumer Demand Weakness
Global smartphone shipments declined 20% year-over-year in Q3, the lowest total in years, as rising prices crush demand. Alphabet missed earnings expectations, and DoorDash confirmed its acquisition of Instacart, signaling consolidation in a pressured logistics market. These developments highlight a broader consumer demand destruction trend that contrasts with the energy sector's inflationary gains, weighing on tech and consumer discretionary valuations.