Consumer electronics giant Apple reported better than expected EPS and revenue for the fiscal second quarter ended March 31 Thursday. Apple posted quarterly revenue of $94.8 billion, down 3% year-over-year and earnings-per-share came in at $1.52, unchanged year-over-year. Both ahead of analysts who were anticipating revenue of $92.96 billion and earnings-per-share of $1.43. Apple’s biggest driver of revenue, the iPhone, posted a quarterly record. Services posted a new all-time high revenue. Excitement is building for the launch of Apple’s AR/VR … Continue reading “Apple Earnings and Revenue Higher Than Consensus, All Time High Services Income”
Apple Sales Hampered by Strong Dollar, China Production and Macro Economy
Consumer electronics giant Apple reported worse than expected EPS and revenue for the fiscal first quarter ended Dec. 31 Thursday. Apple’s overall sales for the quarter were about 5% lower than last year’s and were the first year-over-year sales decline since 2019. Apple’s biggest driver of revenue, iPhone sales missed expectations of $65.78 billion vs. $68.29 billion estimated, down 8.17% year-over-year. The key services segment sales beat with $20.77 billion vs. $20.67 billion estimated, up 6.4% year-over-year. Apple CEO Tim … Continue reading “Apple Sales Hampered by Strong Dollar, China Production and Macro Economy”
Netflix Shares Jump on Big Paid Subscribers Beat, Despite Earnings Miss on Forex Losses
Streaming giant Netflix reported worse than expected fourth quarter earnings after the market close Thursday on foreign exchange losses or remeasurement. NFLX reported revenues in-line, paid net subscriber additions of 7.66 mln topped prior guidance. The company guided Q1 EPS below consensus, but revenues above consensus, saying it expects positive paid net adds yr/yr. Netflix appointed new co-CEOs, which at first glance seems confusing for investors. NFLX stock traded up to $338.27 gaining $22.49 (+ 7.12%) after Hours. Over the past … Continue reading “Netflix Shares Jump on Big Paid Subscribers Beat, Despite Earnings Miss on Forex Losses”
S&P 500 Worst Year Since 2008 as Mega Cap Tech Stocks were Shredded
The Blue-Chip S&P 500 index had a dismal year, down 19.4% in 2022, it was the worst performance since 2008. The benchmark index saw one new high in 2022, January 3 with the now infamous January 5 FOMC minutes from the Federal Reserve putting paid to anymore for the year. By comparison the S&P 500 clocked 70 fresh record highs in 2021. Trailing only 1995 with 77 closing highs. Last year energy companies Devon and Marathon were the top two … Continue reading “S&P 500 Worst Year Since 2008 as Mega Cap Tech Stocks were Shredded”
Amazon the Latest in Huge Tech Layoffs, Just the Start or A Healthy Rationalization?
In this down cycle of the economy, more specifically the growth sector, technology has been particularly hit. These companies were some of the most to benefit from the low interest rates, work from home, no fear bull market. It stands to reason when that sector falls apart with the dramatic rise in interest rates. This week it was announced Amazon plans to lay off approximately 10,000 people in corporate and technology jobs as soon as this week. This would be … Continue reading “Amazon the Latest in Huge Tech Layoffs, Just the Start or A Healthy Rationalization?”
US Tech Billionaires Added $59 Billion in Richest Day Ever as Nasdaq Surged 7.5%
The markets reacted dovishly to the US CPI moderating after resurging in August with aggressive Fed interest rate rises. The repricing of risk was furious, plunging Treasury yields a weakening dollar and big gains in mega cap stock. The Vanguard Mega Cap Growth ETF (MGK) closed up 8.0%. The Nasdaq soared +654.23 or 6.36%. The big winners were the big Techs, Amazon, Google, Microsoft, Apple and even beaten down Tesla. US tech Bloomberg billionaires’ fortunes rose $59 billion, a one-day record … Continue reading “US Tech Billionaires Added $59 Billion in Richest Day Ever as Nasdaq Surged 7.5%”
Apple Revenue and Profit Beat but Impacted by High US Dollar
Consumer electronics giant Apple reported better than expected EPS and revenue for the September quarter earnings Thursday. Apple’s biggest driver of revenue iPhone sales however missed expectations of $42.63 billion vs. $43.21 billion forecast. The key services segment sales also missed with $19.19 billion vs. $20.10 billion estimated. $AAPL stock fell to 144.00 -0.80 or -0.55% in after-hours trading. Apple did not provide official guidance for its first fiscal quarter, which ends in December which contains Apple’s biggest sales season of the … Continue reading “Apple Revenue and Profit Beat but Impacted by High US Dollar”
Netflix Earnings Beat, Adds Subscribers, Games & Password Sharing Plan
Streaming giant Netflix reported better than expected third quarter earnings after the market close. NFLX added 2.41 million net subscribers during the quarter more than double the 1 million it had forecast. The majority of Netflix’s net subscriber growth came from the Asia-Pacific region with 1.43 million new subscribers. Netflix also outlined its plan to crack down on password sharing next year. NFLX also updated it’s gaming strategy. $NFLX rose to $275.49 up 34.63 or 14.38% after hours adding to the … Continue reading “Netflix Earnings Beat, Adds Subscribers, Games & Password Sharing Plan”
What to Look for in Netflix Earnings from Mobile Gaming to Expanding Content
Streaming giant Netflix report third quarter earnings reports quarterly earnings on October 18 after the market close. With the tech wreck of 2022 $NFLX has endured a volatile year. Over the past twelve months, NFLX stock has traded in an extreme range between $162.71 and $700.99. Heading into earnings it trades at $248.29, +18.29, +7.95% the day prior. FactSet analyst estimates provide an EPS consensus of $2.14 and a sales consensus of $7.83bn Netflix Inc NASDAQ: NFLX · Report After … Continue reading “What to Look for in Netflix Earnings from Mobile Gaming to Expanding Content”
Apple Revenue and Profit Beat with Higher iPhone Sales and Gross Margins
Consumer electronics giant Apple reported better than expected EPS and revenue for the June quarter earnings Thursday. AAPL suffered an almost 11% decline in profit hurt by supply constraints and shutdowns in China. Despite this Apple’s biggest driver of revenue iPhone sales continued to grow despite economic challenges. iPhone revenue rose 2.8% to a fiscal third-quarter record of $40.67 billion, while analysts had expected a 2.5% drop. $AAPL stock rose by more than 3% in after-hours trading. Apple (NASDAQ: $AAPL) … Continue reading “Apple Revenue and Profit Beat with Higher iPhone Sales and Gross Margins”