AMZN down 9% post market after announcing results, while AAPL is down 2% post market… so do expect the US market to be pretty red tonight
Earnings missed, Revenues meet.. the big pain point is that they took a 7.6 billion on Rivian as this EV player crashed from like $170 to $30 level… very bad investment… also why I do not like the EV space…
Amazon grew Revenues at 7% which is pretty slow.. their forward guidance is 3% to 7% growth rate for 2nd quarter which is even slower… as we can already feel the US economy slowing down and heading towards a possible Recession
AAPL was a lot better for their results
Earnings and Revenues both beats estimates which was great however they warned that chain supply issues from the china lockdown would hit sales by 4-8 billion in this 2nd quarter thus the post market sell down..
The problem with US big tech is they are priced into perfection… so anything that miss will trigger a sell down.. meaning there is a lot of potential downside, whereas the Chinese big tech is facing the opposite.. they are priced as rubbish.. so anything positive could send them into a big rally