UBS analyst Lloyd Walmsley raised its price target on Amazon (NASDAQ:AMZN) to $127 from $118, maintaining a “buy” rating. The analyst said Amazon’s fourth-quarter results were mixed, with retail stronger than expected and AWS weaker. Walmsley believes Amazon’s recent stock price will struggle to rise until AWS shows more signs of stabilization.
According to a research report published by Morgan Stanley, Amazon (NASDAQ:AMZN) showed a significant improvement in the profitability of the company’s retail business in the fourth quarter of last year, which made the bank more confident in future scale-driven efficiency and profit improvement, and raised its retail EBIT forecast by $8 billion this year. Damo pointed out that although its AWS business is facing near-term macro uncertainty, it will cut its AWS revenue forecast for this year and next by 6%, but believes that the impact is only temporary, emphasizing that it is still optimistic about the long-term development of the business, and the target price is raised to $150. The bank also raised its overall EBIT forecasts for this year and next by 28% and 19%, rating it overweight.
Morgan Stanley: Raised Alphabet (nasdaq:GOOGL) price target from $125 to $135。
Morgan Stanley: Raised Alphabet (nasdaq:GOOGL) price target from $125 to $135 Read Post »
Goldman Sachs reported that General Motors (NYSE:GM) revenue and earnings per share in the fourth quarter of last year were $43.1 billion and $2.12, respectively, better than the market’s original expectations of $40 billion and $1.69, respectively. The company’s adjusted EBIT of US$3.8 billion last quarter was also better than market expectations of $3.2 billion. The company’s guidance for EBIT for this year is $10.5 billion to $12.5 billion, with earnings per share ranging from $6 to $7, higher than market and the bank’s expectations. The bank pointed out that GM’s results increased sharply in the fourth quarter of last year, and believes that a number of factors contributed to this year’s EBIT guidance better than expected, including net price and cost savings. Goldman Sachs raised GM’s earnings per share forecast from $5.15, $6 and $7.25 from $5.15, $6 and $7.25 to $6.25, $6.5 and $7.55, respectively. The bank raised
On February 3, Delta Air Lines (NYSE:DAL) announced that Delta Air Lines will cancel its technical stop in Seoul from March 3, 2023 and officially resume direct flights between China and the United States.
Delta Air Lines (NYSE:DAL): resuming direct flights between China and the United States Read Post »
Bank of America Securities said in a research report that it is cautious about the advertising environment and Meta Platforms (NASDAQ:META) this year, as the platform’s shift to Reels and capital spending could undermine EPS growth when the advertising market improves. Advertising revenue growth in the US accelerated in the fourth quarter, leverage and earnings per share are rising as the advertising environment improves, the competitive environment also improves, and the Group may become part of the artificial intelligence (AI)/machine learning (ML) improvement cycle following excess capital expenditures and GPU investments in 2022/23. The bank assumed that the global online advertising market accelerated, and that Meta could grow faster with AI/ML-assisted Reels monetization, raising its EPS estimate for the year by 13% to $9.82 from $8.72.
JPMorgan Chase: Cut Apple’s (NASDAQ:AAPL) price target to $175 from $180.
JPMorgan Chase: Cut Apple’s (NASDAQ:AAPL) price target to $175 from $180 Read Post »
CEO OF Qualcomm (NASDAQ:QCOM): We now expect channel inventory levels to continue to rise, at least through the first half of the year. The company is cutting expenses further and streamlining its business.
Apple (NASDAQ:AAPL) reported a holiday season sales decline that exceeded Wall Street fears, highlighting the impact of the economic slowdown and ongoing supply issues. The company announced Thursday that first-quarter revenue reached $117.2 billion, down from Wall Street’s forecast of about $121.1 billion. Apple shares fell in after-hours trading. Over the past year, demand for smartphones and computers has declined. Timing is another issue: The company didn’t launch new Macs and HomePods until recent weeks, missing the end of the first quarter. Apple did not provide a second-quarter revenue outlook, continuing its usual practice since the beginning of the pandemic in 2020.
Apple (NASDAQ:AAPL) today released its fiscal 2023 first-quarter results: revenue of $117.154 billion, down 5% year-over-year, the company’s first year-over-year revenue decline since 2019 and the biggest quarterly revenue decline since September 2016; Net income was US$29,998 million, down 13% year-on-year. Among them, revenue in Greater China was US$23.905 billion, down 7% year-on-year. Revenue from Europe, Japan and the rest of Asia Pacific was US$27.681 billion, US$6.755 billion and US$9.535 billion, respectively, all down year-on-year.
Apple (NASDAQ:AAPL) today released its fiscal 2023 first-quarter results: revenue of $117.154 billion, down 5% year-over-year, the company’s first year-over-year revenue decline since 2019 and the biggest quarterly revenue decline since September 2016; Net income was US$29,998 million, down 13% year-on-year. Among them, revenue from wearables, home products and accessories was $13.482 billion, compared with $14.701 billion in the same period last year, which missed analysts’ expectations of $15.23 billion.
Apple (NASDAQ:AAPL) today released its fiscal 2023 first-quarter results: revenue of $117.154 billion, down 5% year-over-year, the company’s first year-over-year revenue decline since 2019 and the biggest quarterly revenue decline since September 2016; Net income was US$29,998 million, down 13% year-on-year. Among them, revenue from the iPad was $9.396 billion, compared with $7.248 billion in the same period last year, beating analysts’ expectations of $7.76 billion.