Breaking Down the Moves in Apple and Amazon, Plus What the Latest GDP Read Means For Your Money 7/28/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 28 July 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Two of the biggest companies in the world reported earnings after the bell. The traders break down what the reports say about the consumer, the economy and inflation. Plus U.S. GDP fell for a second straight quarter. Whether that amounts to a recession or not, it’s having a big impact on the stock markets. We dive into how to play the moves. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Right now on Fast & Amazing Surge for Amazon and Apple on the move higher, the tech
0:05.8	titan beating the street and sounding relatively upbeat about the road ahead will go inside
0:09.5	the numbers.
0:10.5	Plus, socks shrugging off the negative GDP print in the talk of a looming recession, a
0:14.5	two-day winning streak for the markets, and for the month, the S&P is up more than 7%.
0:19.5	Did the spring slump set us up for a summer surge?
0:22.5	And later, dive me into today's Fast Movers investors cutting the cord on Comcast, tech
0:26.4	troubles in China, boards revved up results, and Etsy's crafty rebound.
0:31.0	I'm Melissa Lee.
0:32.0	This is Fast Money Life from the Nasak Market site on the desk tonight.
0:34.6	Guy Dami, Dan Nathan, Bono and Ison and Courtney Garcia, and we start off with a big night
0:38.6	of tech earnings.
0:39.6	Check out the action in Apple, Amazon, Intel, and Roku after reporting results.
0:43.9	Our CNBC All-Star reporters lined up ready to go.
0:46.6	The Apple, Intel, and Roku conference calls just kicking off.
0:49.6	Let's get straight to Steve Kovak to break down Apple's quarter, Steve.
0:53.7	Yeah, Mel, let's really talk about foreign exchange here.
0:56.5	This is something we're already seeing the impacts of on Apple's last quarter.
1:00.8	I got off the phone with Tim Cook earlier this afternoon, and he told me those foreign
1:04.1	exchange headwinds are partially to blame for that 10% drop in max sales that they just
1:09.4	reported.
1:10.4	Now, Apple doesn't give formal guidance.
	...

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