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Good morning investors!

If this is your first time reading, welcome to The Investor’s Edge — a thriving community of over 23,000 subscribers striving to be better investors with an edge in the market.

Every weekend we publish “The Weekly Wrap-Up” — your ticket to being well informed and staying ahead in the investment game!

This report is designed to help investors of all skill levels break down important stories/topics within the stock market. And best of all, we cut through all of the BS and give you exactly what you need to know in easy to digest, bite sized pieces of content.

Grab your coffee and let’s dive in.

Market Talk

All three major indexes finished the week higher, with MAG7 stocks leading the charge.

3 Stories Moving the Market

These are some of the biggest stories from the second half of the week that had an influence on market action.

China eases some US tariffs, denies Trump's negotiation claims

Markets rose Friday after China exempted certain U.S. goods—like pharmaceuticals—from its steep retaliatory tariffs, suggesting a possible easing in trade tensions. But that optimism was quickly clouded as Beijing forcefully denied any ongoing negotiations, contradicting U.S. President Donald Trump’s public statements and reigniting uncertainty.

🔑 Key Points

• China allowed select U.S. pharmaceuticals to bypass the 125% retaliatory tariff, a soft gesture amid rising economic tensions.

• A list of 131 product categories—rumored to include jet engines, vaccines, and chemicals—is being circulated among trade groups as potential exemptions.

• Trump claimed in an interview with TIME that talks with China were underway, yet the Chinese Embassy flatly denied it, stating “the U.S. should stop creating confusion.”

• U.S. equities bounced modestly Friday, while global markets posted their second straight week of gains as traders hoped for de-escalation—but clarity remains elusive.

• Economists continue to warn of consumer price increases and recession risks if Trump’s aggressive tariff approach drags on.

👀 What You Need to Know

Despite the flicker of tariff exemptions from China, the broader trade landscape remains fraught with contradiction and risk. Trump’s aggressive push for bilateral deals and sweeping tariffs may fuel short-term volatility, particularly as timelines blur and major partners like Japan and South Korea scramble to respond. With conflicting signals and no formal path to resolution, investors should brace for a market dominated by headline whiplash and uncertain policy direction.

Apple races to shift iPhone production to India amid China tariff risk

Apple $AAPL ( ▲ 0.44% ) is fast-tracking efforts to manufacture most iPhones for the U.S. market in India by 2026, responding to rising tariff threats and geopolitical friction with China. In urgent talks with key suppliers Foxconn and Tata, Apple is reshaping its global supply chain to reduce reliance on Chinese factories—where over 80% of U.S.-bound iPhones are still made today.

🔑 Key Points

• Apple aims to shift the bulk of U.S. iPhone production to India within two years to avoid future tariff shocks tied to Chinese imports.

• Manufacturing in India is currently 5–10% more expensive than in China due to high import duties on components, but Apple appears willing to absorb that cost for long-term supply chain stability.

• In March, Apple shipped $2B worth of iPhones from India to the U.S.—a record shipment volume that signals how quickly the transition is already ramping up.

• The U.S. imposed 26% duties on Indian imports in April (versus over 100% on Chinese goods), though most non-China duties are now temporarily paused.

• With two more factories under construction, India is quickly becoming Apple’s most strategically important manufacturing base outside China.

👀 What You Need to Know

Apple’s aggressive move to diversify manufacturing shows just how serious the tariff threat has become. While short-term costs are higher, the company is prioritizing supply chain resilience over margins. For investors, this signals both a potential capex drag and a bullish long-term de-risking move—especially if the U.S.-China trade war flares up again. Keep an eye on India’s role in Apple’s supply chain—it’s no longer just a hedge, it’s becoming a cornerstone.

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Alphabet’s stock pops on strong search and advertising growth

Alphabet $GOOGL ( ▲ 1.68% ) shares climbed 2% after the company delivered a solid earnings beat and demonstrated resilience in its core search and advertising businesses, even as mounting trade tensions and AI competition cloud the macro outlook. The strong results, coupled with an accelerating rollout of GenAI products, helped ease some investor concerns about Alphabet’s ability to navigate a tougher global environment.

🔑 Key Points

• Alphabet posted Q1 earnings of $2.81 per share on $90.23 billion in revenue, topping expectations of $2.01 EPS and $89.12 billion in revenue.

• Net income surged 46% year over year to $34.54 billion, bolstered by both ad strength and unrealized investment gains.

• Advertising revenue rose 8.5% to $66.89 billion, while YouTube ad revenue slightly missed estimates at $8.93 billion.

• Search and other revenue grew 9.8% to $50.7 billion, driven by continued adoption of AI Overviews, now reaching 1.5 billion monthly users.

• Alphabet flagged potential minor headwinds from tariffs, especially in the Asia-Pacific region, but said it’s too early to quantify broader impacts.

👀 What You Need to Know

Alphabet is proving it can sustain strong growth in search and advertising while strategically expanding its GenAI footprint, but trade war risks are a new wildcard. Uncertainty around tariffs, supply chain costs, and AI infrastructure buildouts could weigh on margins and investment plans if tensions escalate further. For now, Alphabet’s execution remains strong—but investors will need to stay alert as global trade dynamics continue to evolve.

*Note - our full breakdown and Edge takeway of this report, as well as all of the companies we follow that reported this week, was sent out in Friday’s Earnings Recap.

In Other News

In this section, we'll be curating a selection of news headlines we think you'll find interesting. If a topic catches your eye, click the provided links to read more about it.

• Read the Full Transcript of Donald Trump’s ‘100 Days’ Interview With TIME

• Trump considering exemption for automakers on some tariffs, White House says

• Amazon sellers raise prices after Trump’s China tariff: ‘It’s unsustainable’

• Procter & Gamble CEO says price hikes are ‘likely,’ cuts outlook due to tariffs, uncertainty

• PepsiCo cuts earnings forecast as it predicts ‘uncertainty’ in tariffs, consumer spending

• Waymo reports 250,000 paid robotaxi rides per week in U.S.

• Chipotle is seeing a ‘slowdown’ in consumer spending as 2025 gets off to a rough start

• Mercks beats expectations but expects Trump’s tariffs to cost the company $200 million

• American Airlines withdraws 2025 forecast on murky economic outlook

• Lam Research Q3 Earnings and Revenues Top Estimates

• IBM beats on earnings and revenue, maintains full-year guidance

• Intel beats on Q1 expectations, but poor Q2 forecast sends stock sliding

• AbbVie Stock Rises Despite Risks as Earnings Beat Forecasts

• Bristol Myers Squibb tops quarterly estimates, hikes outlook as drugmaker braces for tariffs

• Texas Instruments Stock Rises on Q1 Earnings and Revenue Beat

• Comcast stock drops as investors balk at weakness in broadband

• Colgate-Palmolive Cuts Outlook as Economic Uncertainty Spooks Shoppers

Edge+ Posts of the Week

We continue to push out more and more content every week to give investors that edge. Here are the posts Investor’s Edge+ subscribers received this week.

The Edge Report

Mondays are for the investors. Every Monday morning we share exactly what we’re watching in the week ahead, how we’re positioning, and even share a sneak peek into our systems and models. This week we discussed the huge week of earnings reports ahead. See the latest full report here:

The Options Edge Report

This week we dropped the latest Edge Options Report for our members—packed with actionable insights and options strategies. We broke down a play on Apple following the recent weakness. See the latest report here:

Earnings Recap

Every week during earnings season is extremely busy for us here at the Edge as we dive into over 100 reports and provide our members with top tier breakdowns and insights. This week we saw earnings from Alphabet, Tesla, Procter & Gamble and more. See this week’s recap:

The Week Ahead

Not only is next week the biggest week of this earnings season, it’s also a huge week on the economic news side as well. Buckle up investors.

Earnings Reports

Next week is the biggest week of the earnings season with 18 names we cover here at Edge on the calendar. Here is the list of names we will be covering:

• Monday 4/28: --

• Tuesday 4/29: Visa, Coca-Cola, American Tower, UPS, General Motors, and Starbucks

• Wednesday 4/30: Microsoft, Meta, Qualcomm, and VICI

• Thursday 5/1: Apple, Amazon, Eli Lilly, Mastercard, Airbnb, and Block

• Friday 5/2: Exxon Mobil and Chevron

Here is the full calendar of scheduled earnings releases:

Economic Reports

Next week is huge week on the economic report front with two major reports that dictate the Fed’s dual mandate and rate policy - the PCE inflation report and nonfarm payrolls.

We also get initial jobless claims, several other jobs reports, manufacturing PMI, GDP data and pending home sales.

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Thank you for reading this edition of the Weekly Wrap-Up. Have a great weekend!

Until next time investors!

Mark & Chris

The Investor’s Edge

Disclosure

This is not investing advice. It is very important that you do your own research and make investments based on your own personal circumstances, preferences, goals and risk tolerance.