4.3 • 1.2K Ratings
🗓️ 2 February 2023
⏱️ 44 minutes
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0:00.0 | Right now and fast. Running out of steam. Markets had a major milestone today. |
0:05.3 | It is now decked now up 15% this year, but after hours, Amazon's down, Alphabet's down, |
0:10.5 | Apple's down. So it's a rally about to hit the wall. Plus, Meta's monster move, a 23% |
0:15.7 | surge higher on the back of yesterday's earnings is stocked now off an eye-popping 118% from |
0:21.0 | the November bottom. It's a time to take the money and run. We'll ask the chartmaster. |
0:25.2 | And later, one of our traders ready to say, I was wrong. The market may have culpa and |
0:29.3 | the portfolio path forward coming up. I'm Melissa Lee. This is Fast 20 Relive at the |
0:33.4 | Nasdaq Market site. I'm the desk Knight Steve Grasso, Karen Feinerman, Dan Nathan |
0:36.9 | and Guy Addami. We start off with a big night, very big night of earnings. Apple, Amazon, |
0:41.7 | Alphabet, Ford, Starbucks, all on the move. We've got full team coverage and all these |
0:45.7 | results. Deutre Buses dialed in on Amazon. And Alphabet, Philip Bose, revved up for four, |
0:50.0 | Pippa Stevens, Oliver, Starbucks. We start off with Steve Kovak, who's got the latest |
0:53.8 | results from Apple. Steve. Hey, there, Mel. Yeah, we already know about that |
0:58.6 | miss on the top and bottom line. So I want to talk about these separate product categories |
1:03.3 | at Apple because I think it really gives us a read into consumer demand, which I'm expecting |
1:08.6 | Tim Cook and Luca Mastery to talk more about on the call, which just kicked off. So |
1:13.0 | let's go down by the categories. It was a miss across the board, say for iPad and services. |
1:19.2 | First of all, iPhone down 8% at 64.78 billion. That's a miss of 68.29 billion services. |
1:26.2 | This is a new record, by the way. It's actually up 6% and slight beat of estimates at $20.77 |
1:31.6 | billion. Mac revenue is huge downfall here down 29% to $7.74 billion in sales. Same thing |
1:40.1 | we're seeing across the rest of the PC market there. But iPad revenue is a surprising |
1:43.9 | beat here, $9.4 billion versus $7.76 billion in sales. That's up 30%. Tim Cook, I talked to |
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