Motley Fool Money Revenge of the Big Tech Stocks
Jul 31, 2020
The latest earnings reports reveal a surprising rise in Amazon, Apple, and Facebook, while Alphabet faces historic challenges. Teladoc Health shines with remarkable growth in telemedicine. Meanwhile, Starbucks and Sherwin-Williams adapt successfully to market pressures. The discussion also covers Apple's stock split implications and investment opportunities in wireless connectivity with CEVA. Listeners get insights into specialty insurance with Kinsale Capital and a fun take on JM Smucker's dividend history tied to quarantine snacking.
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Market Disconnect
- The U.S. economy shrunk by 33% in Q2 2020, the biggest drop in 70 years.
- Despite this, the S&P 500 remained relatively flat, suggesting a disconnect between market sentiment and economic reality.
Amazon's Strong Performance
- Amazon's Q2 profits exceeded expectations, with 40% revenue growth.
- AWS operating profit increased by 60%, highlighting its strength.
Apple's Steady Growth and Stock Split
- Apple's Q3 revenue grew by 11%, with strong performance across all categories.
- A four-for-one stock split was announced, broadening investor access.