US Stock Market 23Q1 Tech Stocks Earnings Summary $META , $AAPL, $AMZN, $GOOGL
Here is our youtube video version of the summary:
A. $META Meta 23Q1 earnings:
1. Revenue topped expectations 2. lowering the costs 3. 40 billion dollars in stock repurchases 4. monthly active users 200K more than expected 5. Lots of stock price upgrades
Summary: The market has predicted that Facebook’s revenue growth momentum will recover, so the stock price has exploded.
B. $AAPL Apple 23Q1 Earnings：
1. EPS Miss by 5c 2. Revenues $$117.2B < Expected $121B 3. All-time revenue record of $20.8 billion in our Services business
Apple's EPS, revenue, and iPhone sales are all lower than expected, due to the supply chain problems in China. However, the market has already priced in these poor numbers. Apple said it expects iPhone sales to grow faster over the next quarters, and the supply chain issues will be easing.
Summary: Therefore, Apple's stock price pushed up after the earnings report.
C. $AMZN Amazon earnings: 1. EPS Miss by 12c => slightly bad 2. Revenues $149.2B > Expected. $145.2B => good 3. AWS sales +20% YoY to $21.4B => good 4. Guidance revenues for 23Q1: $121~$126 billion vs expected $125.11 billion
Summary: Amazon's revenue and cloud business revenue were higher than expected. Amazon's revenue guidance is usually a wide range, which brings a lot of uncertainties. But Amazon’s earnings report is not as bad as everyone imagined. As long as the economy does not experience a severe recession later this year, Amazon’s stock price might have a chance to rise sharply in the next earnings reports this year.
D. $GOOGL Earnings:
1. EPS Miss by 10c 2. Revenues $$76.5B higher than Expected $176B
Summary: No updates on generative artificial intelligence such as ChatGPT-like products, and nothing too surprising. Shares rose slightly after the earnings report.
This year’s FANNG’s earnings are not as bad as everyone imagined. As inflation cools down, the Fed is about to slow down its pace of rate hikes. Therefore, since the beginning of this year, the rise of US stocks has been fast and furious. As long as the economy does not experience a severe recession in the second half of this year, the US stock market could continue to be quite bullish this year.