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”

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”

More Tech Wreckage as Amazon Follows Meta Down After Misses on Revenue and Guides Lower

Retail monster Amazon.com reported weaker September quarter revenue Thursday and lowered guidance sending the shares sharply lower.  Amazon stock was trading at $90.15 -20.81 or -18.75% after the release. The markets were already jittery after the META trainwreck the night before. Amazon recorded a $3.9 billion loss on its Rivian investment which led to a reported a loss of 20 cents per share on revenue of $121.23 billion vs. $119.09 billion expected. Amazon was the last of the mega-cap tech companies … Continue reading “More Tech Wreckage as Amazon Follows Meta Down After Misses on Revenue and Guides Lower”

Meta in Freefall as Profits Halved and Lowers Guidance

Social media beast Meta, owner of Facebook shares were savaged around 20% to levels last seen in July 2016. META reported third quarter revenue and EPS missed as it posted a net profit of $4.39 billion, or $1.64 a share, down from $9.2 billion, or $3.22 a share last year. META also warning going forward. This was the fourth quarter in a row Meta’s bottom line has fallen. The company hasn’t experienced such a slump since the fourth quarter of … Continue reading “Meta in Freefall as Profits Halved and Lowers Guidance”

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”

Meta First Ever Decline in Revenue with Tik Tok Competition and Soft Digital Advertising

Social media beast Meta, owner of Facebook reported worse than expected second quarter earnings after the close Wednesday. $FB guiding lower, and revenue and EPS missed as it posted a net profit of $6.7 billion for the second quarter, the third quarter in a row Meta’s bottom line has fallen. The company hasn’t experienced such a slump since the fourth quarter of 2012. Q2 daily active user base rose to 1.97 billion users. Up from 1.96 billion three months ago. … Continue reading “Meta First Ever Decline in Revenue with Tik Tok Competition and Soft Digital Advertising”

Meta Earnings Release Better Than Expected Offers Relief Boosting Stock 15%

Social media beast Meta, owner of Facebook reported better than expected first quarter earnings after the close Wednesday. $FB guiding lower, and revenue missed but beat on EPS. Daily active users, which declined in the fourth quarter for the first time, bounced back a bit from 1.93 billion to 1.96 billion. $FB was up 15.1% after earnings, the stock fell 26% after the dismal Q4 results. Facebook Inc. (NASDAQ: $FB) Reported Earnings After Close Wednesday $2.72 beat EPS $2.56 expected … Continue reading “Meta Earnings Release Better Than Expected Offers Relief Boosting Stock 15%”

Meta Platforms Stock Plummets 25% as Earnings Meet Reality

Social media beast Metal Platforms (nee. Facebook) reported dismal fourth quarter earnings after the close Wednesday. $FB missed EPS estimates and issued downside 1Q22 revenue. It wasn’t lost on the market the negative divergence versus that of GOOG and raised a red flag for Twitter (TWTR) Snap (SNAP) and Pinterest (PINS).  The uncertainty from Apple IOS changes are still weighing heavily on FB’s advertising. Full functionality of the metaverse may be years away, if ever. It is essential for FB to turn its advertising … Continue reading “Meta Platforms Stock Plummets 25% as Earnings Meet Reality”

Apple Stock Jumps 7% After Earnings Respond Strongly to Supply Constraints with Record iPhone Sales

Consumer electronics giant Apple reported better than expected EPS and revenue December quarter earnings Thursday. iPhone revenue, boosted by the launch of iPhone 13, climbed 9% yr/yr to an all-time record of $71.6 bln, despite supply constraints. The biggest growth category was Mac with revenue up 25% yr/yr to $10.9 bln, also an all-time record amongst a supply crisis. $AAPL stock rose to $170.33 up 11.11 or 6.98% after the release. Apple (NASDAQ: $AAPL) Reported Earnings After Close Thursday  $2.10 Beat … Continue reading “Apple Stock Jumps 7% After Earnings Respond Strongly to Supply Constraints with Record iPhone Sales”

Amazon Stock Tumbles After Missing Revenues, Guiding Far Below Consensus Expecting Labor Supply Issues To Hit Holiday Sales

Retail monster Amazon.com reported much weaker September quarter earnings Thursday.  $AMZN stock tumbled 4.5% after they guided much lower than  expected.  Amazon was already projected to grow at  the slowest in the past decade but issued an even bleaker picture blaming labor and supply issues. This is the last quarter under which the e-commerce and technology giant’s founder Jeff Bezos was CEO, as longtime company exec Andy Jassy took over the top spot on July 5. Could this be the … Continue reading “Amazon Stock Tumbles After Missing Revenues, Guiding Far Below Consensus Expecting Labor Supply Issues To Hit Holiday Sales”