Skip to content

News   /   QQQTrades.Club

Big Tech Miss and Hit

Big Tech Miss and Hit
August 4, 2023

Apple reports soft earning in hard goods, Amazon Rockets Higher!

Apple Down Before the Bell

Apple's third-quarter earnings report showed a revenue decline in the company's most iconic hardware products — iPhone, iPad and Mac.

However, the services business is growing rapidly, with revenue increasing over 8% to $21.2 billion in the June quarter. Apple's services business includes a variety of products, such as advertising, AppleCare, cloud services, digital content, and payment services. Apple has over 1 billion paid subscribers, a number that's doubled in three years. The company's deal with Major League Soccer to broadcast its games on Apple TV is beating internal expectations for subscribers.

The services business is critical for shareholders because it has stronger margins than hardware products, is more predictable because of recurring billing, and provides more ways for the company to make money from its installed base of over 2 billion devices.

Apple won't set growth records for its services business, but the business is larger now, and analysts expect it to post almost $60 billion in total sales in fiscal 2023.

Apple shares fell a little over 2% to $187.15 in extended trading after the report.

Amazon Beats Earnings Estimates, Stock Surges

Amazon reported second-quarter earnings on Thursday that beat analysts' estimates by a wide margin.

The company's earnings per share (EPS) came in at 65 cents, compared to the 35 cents that analysts were expecting.

Revenue was also strong, coming in at $134.4 billion, which was above the $131.5 billion that analysts were expecting.

The company's cloud computing business, Amazon Web Services (AWS), also had a strong quarter, with revenue of $22.1 billion.

Advertising revenue was also up, coming in at $10.7 billion.

The strong earnings report sent Amazon's stock soaring in after-hours trading, with shares up more than 10%.

The company's guidance for the third quarter also beat expectations, with revenue expected to be between $138 billion and $143 billion.

This is good news for investors, as it suggests that Amazon's growth is still on track.

The company's strong performance in the second quarter was driven by a number of factors, including strong demand for its cloud computing services and its advertising business.

Amazon is also benefiting from the ongoing shift to online shopping, which has been accelerated by the COVID-19 pandemic.

Overall, the strong earnings report from Amazon is a positive sign for the company and its investors. It suggests that Amazon is still growing at a strong pace and that its businesses are performing well.

Subscribe…its good for your brain.

Subscribe now

Read more

Share this article:

More in QQQTrades.Club:

The Rise of Technical Analysis in Modern Stock Trading  

In today’s fast-paced and technology-driven stock market, technical analysis has emerged as the predominant approach used by traders to make...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 20, 2024

The Future of Computing Power: Groq Founder Jonathan Ross on "Compute Being the New Oil"

In the rapidly evolving world of artificial intelligence, one name stands out as a pioneer and visionary: Jonathan Ross, founder...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 17, 2024

Is MicroStrategy's Massive Bitcoin Bet Genius or Gambling? 

In the high-stakes world of investing, there’s always been a fine line between boldness and recklessness. MicroStrategy’s CEO Michael Saylor...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 16, 2024

Best of US Investors brings Wall Street Technology to Main Street

For decades, massive Wall Street firms like Goldman Sachs have enjoyed a decisive advantage over individual investors. With thousands of...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 16, 2024

Best of US Investors

Will the Fed Raise or Lower Rates?

CPI Report Expected to Show Little Progress on Inflation

April 10, 2024 Inflation is real and hitting American households hard. From the grocery store to the gas pump to...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
April 10, 2024

Bitcoin Whale Emerges!

A Bitcoin whale moved 2,000 BTC that had been dormant since 2010, but this action had no noticeable effect on Bitcoin's price. Typically, such large movements can cause market apprehension, yet this time it was completely ignored, suggesting Bitcoin's price is currently independent of such news.

A Bitcoin whale moved 2,000 BTC that had been dormant since 2010, but this action had no noticeable effect on...

Trent Grinkmeyer in front of stock market with bull background

Trent Grinkmeyer
March 28, 2024

Register for the Best of US Investors Newsletter

Get daily financial news delivered to your inbox. Join today.

©2024 Best of US Investors. All rights reserved.

Site by KMA

Disclaimer

This Best of US Investors website is not and should not be considered investment advice. This Best of US Investors website is for informational purposes only. Nothing on this Best of US Investors website constitutes a recommendation to buy, sell or hold any security at any time. Always consult with a financial professional that is familiar with your specific situation before making any investment or trade.

Use of this Best of US Investors website is at your own risk. Best of US Investors makes no warranties about the accuracy, completeness or reliability of any content on this Best of US Investors website.

All the information on this Best of US Investors website is provided “AS IS”. Do not rely on any statements made on this Best of US Investors website.

In no event shall Best of US Investors be responsible or liable for any damage that occurs while using or reading any content on this Best of US Investors website.

Best of US Investors may have a position (long, short or neutral) in any security mentioned on this Best of US Investors website and therefore may realize significant gains in the event that the price of the security mentioned on this Best of US Investors website declines or appreciates.

Best of US Investors may buy and/or sell any security mentioned on this Twitter account at any time and for any reason. I may trade contrary or different to the information provided on this Best of US Investors website. You should assume that any email or post on this Best of US Investors website may cause the price of the security mentioned to appreciate or decline in a dramatic way.

Best of US Investors may continue to transact in any security mentioned on this Best of US Investors website an indefinite period of time after any email or post and such positions may be long, short or neutral at any time hereafter regardless of the initial view or positions stated on this Best of US Investors website.

In no event shall Best of US Investors be liable for any claims, losses, costs or damages of any kind including direct, indirect, punitive, exemplary, incidental, special or consequential damages, arising out of or in any way connected with any information presented on this Best of US Investors website. This limitation of liability applies regardless of any negligence or gross negligence of Best of US Investors or any company affiliated with Best of US Investors. You accept all risks in relying on the information presented on this Best of US Investors website.

If any statement in this legal disclaimer is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.

For more information, contact [email protected] .