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.
AI Snips
Chapters
Transcript
Episode notes
Amazon Q3 Performance
- Amazon's Q3 earnings show strong profit and growth investments under CEO Andy Jassy.
- Margin expansion and cloud growth are key drivers, with AWS growing 19% and advertising also beating expectations.
Apple's Undervalued Services
- Apple's services business, though slightly below expectations, is massive at $98 billion annually.
- This secondary business alone surpasses the entire revenue of companies like Dell, highlighting Apple's diverse strength.
Intel's Mixed Performance
- Despite challenges, Intel's data center revenue increased by 9% year over year, exceeding expectations.
- However, their client compute revenue, a larger portion of their business, declined, indicating ongoing struggles.