05 May 2022 1 min
Earnings report by Tsitso Koneshe
Written by: Mark Zikode CNBC news Save to InstapaperTsitso Koneshe reports:
Apple reported an amazingly strong set of results, and made Amazon look even worse after delivering a weak seat of results.
What happened?
Apple had blowout earnings, with sales for every product up, a record number of iPhone users, meaning a bigger audience for Apple services like Apple TV and Music.
Growth from services was up 17% yoy and overall growth up 9%. And yet the stock fell on future supply chain woes.
Meanwhile, Amazon’s AWS did excellently with revenue growth of 37% yoy. Sadly, the rest of its product suite did not match up with its ecommerce revenue at just 3%. This sent the stock tumbling.
The question is how will you trade these giants when the US market opens?
Total Words: 126
Published in Business, Economy, Finances, Banking and Insurance
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