Apple and Amazon earnings reports
- 4 August 2023
- Posted by: Federica Montella
- Categories: eToro CopyTrader, Investing
Apple and Amazon earnings report
Thursday has been a negative day for Wall Street.
The three big US indexes closed the session as follows:
The S&P 500 fell 0.25%, marking its third straight consecutive day of decline.
The Tech-heavy Nasdaq Composite dropped 0.10%
The Dow Jones closed with a loss of 0.19%.
Aftermarket, Amazon and Apple reported earnings results for the second quarter.
Amazon
Amazon’s revenue grew 11% to $134.2 billion, driven by a 12% surge in its cloud segment and strong e-commerce growth.
Both revenue and profit surpassed the analysts’ expectations.
The tech giant’s Q3 projections are promising because Amazon is planning to grow at a similar pace by projecting to double same-day delivery facilities and reach strong sales results on Prime Days.
Following yesterday’s earnings report, Amazon’s shares rose by about 10% in after-hours trading.
Apple
Apple’s earnings per share of $1.26 Â have beaten the analysts’ expectations of $1.20.
Total revenue of $81.8B has also shown better-than-expected data.
Apple has reached a new all-time high of $21 billion in sales in its service unit, thanks to the over one billion customers that have subscribed to Apple Music and TV as well as buying in the App Store.
iPhone iPad and Mac sales, however, dropped for the third quarter in a row, but Tim Cook is pleased to see strong sales in emerging markets.
In after-hours trading, Apple’s shares are going down.
Today’s events to watch
The US non-farm payrolls for July will be published at 13:30 GMT+1.
At the same time are going to be released the average hourly earnings and the unemployment rate.
Crucial data to understand the labour market conditions and to have a clue regarding the Federal Reserve’s next move.
Portfolio update
I am rebalancing my portfolio gradually.
I recently took a profit on some long positions on stocks.
I am adding new positions and will close some in the upcoming months.
If you are already copying my portfolio, please keep the copy open.
If you are thinking of copying me, now could be the right time, if you can invest for the long term (years).
Remember to copy the open trades to optimize the copy.
Remember to set the stop loss on the copy at the minimum level, so you don’t get stopped if there is a correction.
Thank you, everyone. Have a nice day!
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