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No, but close to it. In the UK, 66% of respondents said that they spent no time listening to a physical copy (vinyl, CD) of an album. By contrast, 25% said that they listened to more than 6 hours of playlists from streaming services per week, or around an hour a day. The revenue splits of music sales in the UK paint the same picture: Only 17.5 percent of the total revenue of rougly 1,5 billion British Pounds in 2020 was earned with sales of physical goods. Source: Statista Global Consumer Survey

The S&P 500 Tech sector’s earnings yield is hovering near lowest since early 2004. Should this be taken as a warning? Source: Bloomberg

Qualcomm is simply the world's largest chipmaker, and just delivered a very bullish forecast, supported by the high demand for chips and the development of the 5G network. Earnings will be $2.15 to $2.35 a share in the period ending in September, the company said Wednesday, well ahead of the average projection of $2.07. Revenue will be $8.4 billion to $9.2 billion, compared with an estimate of $8.5 billion. Source: Yahoo Finance, Bloomberg

Cathie Wood continued to exit Chinese stocks with its ETFs this week as Beijing’s crackdown on the tutoring industry caused sharp swings in the nation’s stocks market. ARK’s largest fund, the $22.4 billion ARK Innovation, has exited nearly all its positions in Chinese stocks as of Wednesday, except for a $1 million holding in real estate services company KE Holdings. This is down from an 8% allocation to China stocks in February. Source: Company website, MorningStar, Yahoo Finance

Facebook shares turned sharply lower in late trading Wednesday after the company warned of slowing growth for the remainder of the year. The cautious outlook comes even as digital ad rivals have offered a bullish forecast for online advertising in the coming months. Facebook shares were down 3.9% in the after hours session. The stock rose 1.5% in regular trading Wednesday, closing at $373.28. Source: Barron's, Yahoo Finance