Spotify Wrapped 2023

Spotify wraps up a big week

This week, Spotify cuts 1,500 jobs, Apple hits a $3 trillion market cap (again), and Coinbase keeps climbing.

💡 If you want these updates delivered to your inbox every Friday, sign up here

Green ornament

Spotify shares up 5% thanks to ‘Wrapped’ and layoffs 🎧

That’s a wrap: Spotify's recent Wrapped campaign took social by storm, amassing billions of impressions. Eager investors await this year's analytics to see if there’s been growth following last year's buzz with 400 million tweets alone.

  • 1/6th employees gone: But sadly, around 1,500 employees lost their jobs as CEO Daniel Ek believes the company can keep performance high without these roles

  • An unfortunate truth: A company's stock price often increases when it announces job cuts because salaries typically represent a company's biggest operating expense

Stock analyst rating stating strong buy

*Ratings are provided by analysts at Zacks, a leading investment research firm

Apple rises 2% as it hits a $3 trillion market cap 🍏

Back to the top: Apple has returned to being the only $3 trillion dollar company in the world, as shares reached $193.42 a pop on Tuesday 

  • 4-month high: Shares are at their highest point since August amid projections for a booming holiday quarter. Are analysts predicting plenty of iPhones under our Christmas trees this year?

  • Is Santa coming to town? This could also be a classic case of the Santa Claus Rally, where stocks tend to rise as we head into December/New Year time (check out why this happens).

Stock analyst rating stating strong buy

*Ratings are provided by analysts at Zacks, a leading investment research firm

Coinbase climbs 10% as Bitcoin surpasses $44k 🪙

Up 62% this month: Coinbase has jumped yet again this week thanks to Bitcoin surging in price, though the stock is still down 60% from its all-time high

  • Falling interest rates: Bitcoin surged to its highest price in nearly 20 months (with gold also hitting an all-time peak on Monday) as investors speculate that interest rates will fall

  • Money moves: When interest rates fall, saving cash is less appealing for investors because returns are lower. This is why they’re looking towards alternative assets.

Stock analyst rating saying hold

*Ratings are provided by analysts at Zacks, a leading investment research firm

What have we learned this week? 🤓

  • Consumers don’t mind sharing data: Spotify has found a way of making people want to share their data, by sharing it back to them in shareable formats. It’s a win-win. 

  • Christmas is key for Apple: Each time Apple reaches a $3 trillion valuation, it’s not long before it slides back into the 2’s. Can Christmas give it the extra magic it needs?

  • Crypto’s bull run: Executives in the cryptocurrency industry called believe a crypto bull run could be on the cards heading into 2024

Stock announcements 👀

Thanks for tucking in! Want to receive these updates every Friday? Sign up here or share via WhatsApp with your friends.

*Figures and ratings correct as of December 6th 2023.

Past performance does not guarantee future results. Capital at risk when investing. This content is for educational purposes only. Shares does not provide investment advice. If you are unsure about anything, please seek advice from an authorised financial advisor.

Meet the authors

Lucy Burgess

Lucy Burgess

Head of Content

Lucy has spent the last 8 years working in fintech. It's safe to say she's pretty passionate about making finance welcoming to everyone.

James Ashoo photo

James Ashoo

Content Writer

James has been investing for over four years. His aim is to explain the hard stuff, easily! When he's not chewing your ear off about stocks and crypto, he'll most likely be telling bad jokes.

Harjas Singh

Harjas Singh

Chief Product Officer & Co-Founder

With a wealth of experience in fintech, Harjas is the man in the know when it comes to all things product. Investing features, chatting capabilities and thriving communities – he oversees all development on the Shares app!