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Apple's Struggling China Sales
Plus, Amazon’s surging AWS revenue.
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Today is Friday, November 1, 2024.
The Early Bird Index today is 71.75.
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Apple's Struggling China Sales
Apple (Nasdaq: AAPL) fell by 1.86% in after-hours trading on Thursday despite posting good financial earnings results.
Financials: Apple reported earnings of $1.64 per share in the past quarter and revenue of $94.9 billion; both were better than expected.
Details: Revenue for the iPhone reached a September quarter record. Services revenue was at an all-time high.
Yes, But: The revenue for Apple’s China business was $15 billion, which was lower than expected.
Early Bird’s Nest Egg Gains: Apple faces several significant challenges in China such as increased domestic competition and geopolitical tensions. These have resulted in declining iPhone sales in China.
Final Thoughts: Apple, up 21% this year, also reported a one-time tax payment in Europe.
The NEXT Trillion Dollar Company?
This company just signed a MASSIVE deal with Apple.
It gets their AI tech in Apple’s iPhones and iMacs until 2040!
But it goes beyond that.
The company is getting its tech into products by Nvidia, Google, and Samsung too.
Its AI tech is so crucial…
Nvidia is actually buying up the stock too.
They’ve invested more in this one company than any other… nearly $150 million.
Is this stock the next Nvidia… which has gone up 81,700% over the last 20 years?
Notables
Notable Earnings Today: Exxon Mobil (NYSE: XOM), Chevron (NYSE: CVX), fuboTV (NYSE: FUBO), Simon Properties (NYSE: SPG), Wayfair (NYSE: W), Dominion Energy (NYSE: D), Charter Communications (Nasdaq: CHTR), LyondellBasell (NYSE: LYB), Air Canada (OTCMKTS: ACDVF), Alpha Metallurgical Resources (NYSE: AMR), ArcBest (Nasdaq: ARCB), Ares Management (NYSE: ARES), Butterfly Network (NYSE: BFLY), Cardinal Health (NYSE: CAH), Cboe Global Markets (BATS: CBOE), Chart Industries (NYSE: GTLS), Church & Dwight (NYSE: CHD), DigitalBridge (NYSE: DBRG), Enbridge (NYSE: ENB), Essent Group (NYSE: ESNT), Imperial Oil (NYSE American: IMO), Magna (NYSE: MGA), Moog (NYSE: MOG.A), nVent Electric (NYSE: NVT), PPL Corp (NYSE: PPL), Protolabs (NYSE: PRLB), T. Rowe Price (Nasdaq: TROW), Telus (NYSE: TU), TXNM Energy (NYSE: TXNM).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: N/A.
Notable Economic Events Today: Unemployment Rate (8:30 a.m. ET), Average Hourly Earnings (8:30 a.m. ET), Nonfarm Payrolls (8:30 a.m. ET), Labor Force Participation Rate (8:30 a.m. ET), ISM Manufacturing PMI / Prices / Employment (10:00 a.m. ET), Construction Spending (10:00 a.m. ET), S&P Global US Manufacturing PMI (10:45 a.m. ET).
Amazon’s Surging AWS Revenue
Amazon (Nasdaq: AMZN) jumped 6.07% in after-hours trading on Thursday after reporting strong financial earnings results.
Financials: Amazon reported earnings of $1.43 per share in the past quarter and revenue of $158.9 billion; both were better than expected.
Powering the Story: Investors were happy that Amazon Web Services (AWS) sales jumped 19% in the quarter.
Final Thoughts: Amazon, up 24% this year, also posted a good outlook for the current quarter.
Intel’s Turnaround Begins
Intel (Nasdaq: INTC) climbed 6.92% in after-hours trading on Thursday after reporting recent financial earnings results.
Financials: Intel reported a loss of 46 cents per share in the past quarter, which was lower than expected. But revenue reached $13.3 billion, which was better than expected.
Final Thoughts: Intel is down 54% (yikes) this year and wants to turn things around.
Trends to Watch
Decline: Crypto Slumps Alongside Trump's Victory Odds on Polymarket as Uncertainty and Profit-Taking Rise (CoinDesk)
A Combination of Things: Ethereum price rally to $3K depends on a few key factors (Cointelegraph)
Potential Offloading: Comcast Considers Spinning Off Cable Networks Such as MSNBC, CNBC, Bravo (Wall Street Journal)
Driving Down: Avis’s stock slides after third-quarter earnings fall short of estimates (MarketWatch)
Writing a New Chapter: Bitcoin ETFs Now Hold Over a Million BTC as Dominant BlackRock Hits New Peak (Decrypt)
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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.