Motley Fool Money Huge Jobs Report, Triple-A Earnings
Feb 3, 2023
Ron Gross and Jason Moser, both senior analysts at Motley Fool, unpack the latest economic trends and company performances. With unemployment at a historic low, they discuss a surprising jobs report and the implications of a new interest rate hike. Among the highlights, they analyze Apple’s sales drop, Amazon's weak holiday forecast, and McDonald's strong finish to the fiscal year. They also delve into disappointing results from Match Group and Peloton, while spotlighting stocks like Kinsale Capital Group and Samsara for potential investment.
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Strong Labor Market
- The Federal Reserve announced a quarter-percent interest rate hike and a surprising jobs report.
- The unemployment rate fell to a 53-year low of 3.4%, exceeding expectations.
Apple's Mixed Results
- Apple experienced its first sales drop since 2019, with iPhone revenue down 8% due to supply chain issues and macroeconomic conditions.
- Despite this, iPad sales were a bright spot, exceeding expectations.
Amazon's Growth Concerns
- Amazon's holiday quarter revenue beat expectations at $149 billion, but weak guidance caused concern.
- AWS cloud revenue growth slowed to 20%, and the core e-commerce business declined by 2%.