The shares popped higher in late trading hours with better than expected earnings. Sales rose 7%, which is higher than the company’s guidance. The worry of inflationary pressures in energy costs did not spell big trouble for Amazon as the company is working to cope with the higher operating cost.
Amazon Web Services, the highlight, saw a 33% jump in the quarter, in line with estimates. This is a relief as investors were initially worried if it could match up with the robust report from Google Cloud.
With expected Prime membership price going up and moderation in capital investment, the future ahead for Amazon remains stable. This starkly contrasts with recent days where we see Walmart, a giant retailer signalling trouble from weaker consumer spending.
And with that, we move on to the next update- Apple.
🍎Apple of our eyes moon🗽
The impressive Apple iPhone sales push any concern about weakening consumer sales to the back. It achieved a profit of $1.20 per share, higher than the estimated $1.16 a share. Sales of Mac computers were less than expected so were iPad sales.
This was mainly due to supply constraints, as Tim Cook conveyed on a call with analysts. Nonetheless, a bright star lies in the paid subscribers, which stands at 860 million. In guidance, Apple also projects a jump in revenue from the June quarter despite foreign exchange trouble. There is hope supply constraints will also have less effect in the September quarter.
Pika World continues to explore entry points for the stock.
💣Intel: Tell us the woes?🔫
Shares fell sharply, given a bleak outlook. Guidance matters in a recession fear. Intel blamed that the macroeconomic situation is softening. The CEO conveyed that the company has to do better. While he acknowledged that a rapid economic decline is primary blame, he also admitted that it has to do with executing the company’s strategy.
Intel is still in its transformative journey, playing catching up with other leading semiconductors to help cope with the competition.
More Stories
🚀It’s time for a re-assessment; then came Nvidia’s boost.🚀
A flip-flop markets into earnings season
Nvidia pushes the market to roar back.