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CNBC's "Fast Money"
Apple, Amazon Report Results… And Countdown To The Jobs Report 10/31/24
Oct 31, 2024
Kate Rooney, a financial journalist known for her insights on Amazon, joins Steve Kovach, a reporter covering Apple's performance. They dive into Amazon's impressive growth in retail margins and AWS, while also dissecting Apple's services revenue and its mixed performance. The duo highlights how these earnings are shaping the tech landscape amidst economic and political uncertainties. With the looming jobs report ahead of the presidential election, they discuss its potential impact on investor sentiment and market dynamics.
43:50
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Quick takeaways
- Amazon's strong earnings and growth in cloud services indicate a positive trend for tech stocks despite contrasting results from Apple, which showed stock decline due to weak services revenue.
- As the presidential election approaches alongside critical economic indicators, investor sentiment remains cautious amidst rising market volatility and concerns over interest rates.
Deep dives
Market Reactions to Earnings Reports
Recent earnings reports from major companies like Amazon and Apple have generated significant market reactions. Amazon's latest quarterly results highlighted strong profit margins and growth in its cloud services, leading to an immediate increase in its stock price. Key metrics included a 19% growth in Amazon Web Services, which was complemented by an operating margin that surpassed expectations. In contrast, although Apple showed a record quarter for iPhone sales, its stock faced downward pressure due to a miss in its services revenue, demonstrating the market's sensitivity to earnings guidance.
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Discover
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