05 May 2022

Earnings report by Tsitso Koneshe

Submitted by Mark Zikode

Tsitso 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?

Latest press releases