Apple Stock Trades 7% Lower from Record High After Earnings with Disappointing iPhone Sales

Consumer electronics giant Apple stock slumped 4.8% Friday after earnings, down 7.1% for the week (largest since November) after $AAPL closed Monday traded at an all-time high $198.23, at that point with a year-to-date return of 51.6%. The company Thursday reported fiscal Q3 Net Income of $19.881 billion, up 2% vs. Q3 2022. Revenues were down slightly year on year. The stock closed the week with a price-to-earnings ratio of 30.59. AAPL reported better than expected EPS and revenue for … Continue reading “Apple Stock Trades 7% Lower from Record High After Earnings with Disappointing iPhone Sales”

Netflix New Subscribers, Operating Margin and Free Cash Flow All Beat, But Revenue Misses

Streaming giant Netflix reported mixed second quarter earnings after the market close Wednesday. NFLX reported revenues rose 2.7% compared to the year-ago period but missed estimates. This report included the affect of the crackdown on password sharing, which rolled out in the US in late May, along with the recently launched ad-supported tier. Netflix also guided third-quarter revenue of $8.52 billion, below expectations of $8.67 billion. On the positive side adjusted EPS of $3.29 beat $2.90 expected and subscribers net … Continue reading “Netflix New Subscribers, Operating Margin and Free Cash Flow All Beat, But Revenue Misses”

S&P 500 Mid-Year Review and Outlook for the Year Ahead (Includes AAPL NVDA XOM)

The Blue-Chip S&P 500 index shook off recession fears and a U.S. regional banking crisis to gain 15.9% in the first half. The Nasdaq Composite for its part gained 31.7% for its biggest first-half increase in four decades. Much of the rise was from climbing the wall of worry as shorting became costly with the Cboe Volatility Index hit its lowest level since early 2020. Interesting with all the headlines that the huge advance in the stock markets is being … Continue reading “S&P 500 Mid-Year Review and Outlook for the Year Ahead (Includes AAPL NVDA XOM)”

Apple Earnings and Revenue Higher Than Consensus, All Time High Services Income

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”