What I am looking at April 29, 2022
- Amazon (AMZN) earnings: How bad? Not that bad. It was a weaker-than-expected quarter and an ugly, but probably conservative, forward guidance. Too much of everything, overstaffed and too much capacity. Now the layoffs begin? I think they bid up everything. And they are done doing that. Prologis (PLD) — leases warehouse space to Amazon — and truck rates coming down?
- Apple (AAPL) earnings: How bad? Not invincible, but give me a break. It was an amazing quarter and some really good membership numbers. Apple TV+ doing incredibly well and it matters ... iPhone 13 sales were much better than expected. Really fabulous and will take back China. No. 1 everywhere. Services revenue was outstanding.