It's been a mix of hot and cold on Wall Street. Here are our picks from a week feeling the heat.

Hot or…? 🥽 Last Monday when Apple (AAPL) unveiled their Vision Pro mixed-reality headset, they could have anticipated the ‘audible gasp’ at the US$3,499 price tag. But Apple CEO Tim Cook avoided further crowd awkward moments by not actually wearing the chunky ‘nerd goggles’. Was he keen to avoid the Google (GOOG, GOOGL) Glass shower gaff and Meta-owned (META) Oculus’ TIME magazine meme frenzy? Instead, he ditched any talk of ‘virtual reality’ altogether, replacing it with ‘spatial computing’, while never quite nailing why Vision Pro is the latest ‘must-have’ Apple product. Following the launch, Apple’s share price dropped, ending the week down 1%, although still up 45% YTD. Also read: Big tech earnings 

Cold soup. 🥫 While Kiwis are popping the lids off a few tins…of soup…it’s not flavour of the month Stateside. Despite Campbell Soup (CPB) embracing AI early in the decade, and this year using AI’s crowdsourcing innovation to fire up their Chicken Noodle Soup, investors have gone cold on the packaged food giant, which has needed to navigate the pandemic and Russia-Ukraine war-caused supply chain snags. Last week, Campbell Soup posted disappointing earnings, causing their shares to drop nearly 9%, to their lowest this year, earning their place as ‘worst-performing stock in the S&P 500’.

Cuts coming. ✂️ Online personal styling service Stitch Fix (SFIX) thrived during lockdown when the company’s share price peaked at US$95.44. But not even barely beating Wall Street expectations last week could hide Stitch Fix’s 20% revenue drop from the previous year (YOY). And that’s despite this year’s 20% staff layoffs. And while some analysts think Stitch Fix lacks ability to scale, investors thought differently, helping to ‘skyrocket’ the share price 33% - since dropping to around a 21% increase throughout the week. Interim CEO Katrina Lake credits AI as elevating Stitch Fix’s personalisation capabilities. But it’s all hands on deck to claw back their 11% lost clients and lift spending per customer that’s dropped 9% to US$502. Also read: What else is happening in AI?

Job done. 🧰 It’s tools down at UBS (UBS) after the bank finally took over rival Credit Suisse in the biggest bank merger since 2008. Among the acquisition challenges were accusations that the Swiss bank allegedly allowed a Bulgarian gang to launder money. The merger ends a bank implosion, job uncertainty - uniting a team of 120,000 people - and has a balance sheet of US$1.6 trillion. Also read: Lessons learned from Silicon Valley Bank collapse

At a glance. 🎨 Nvidia’s latest earnings invigorated investors, putting the advanced chipmaker within spitting distance of a US$1 trillion valuation, with a market cap of US$992 billion. Which may have compelled Visual Capitalist’s art department to show exactly what that number looks like next to their US semiconductor manufacturing peers. Coming in second, Broadcom (AVGO) is only a third the way to a trillion, valued at US$335 billion, and taking third place is AMD (AMD), only one-fifth of the way to break a trillion dollars, valued at US$202 billion. All leaving legacy company Intel (INTC) sixth in line to the trillionaire throne, with a market cap of US$125 billion.

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Image inspo: Recession undies (we couldn't make that up!)

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