Closing Bell Overtime: Amazon sinks on weak earnings guidance, Apple rallies on earnings beat 4/28/22

Closing Bell

CNBC

Business, News

4.4 • 141 Ratings

🗓️ 28 April 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Earnings guidance dominates the after hours trading session. Shares of Amazon fall more than 10% after the company provided a weak Q2 revenue outlook. Dan Ives from Wedbush Securities gives his instant analysis to those numbers. But, Apple rallies following an earnings beat across the board and forecasts better-than-expected EPS and revenue. And Michael Santoli’s “Last Word” is “relief.” 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	Welcome to overtime. I'm Scott Wabner, you just heard the bills. We of course just getting started and a huge show is ahead.
0:06.8	Apple, Amazon, Intel earnings are imminent. That is our talk of the tape.
0:11.0	Obviously, this critical moment for your money especially
0:14.1	after this very big day in the markets leading up to those numbers our experts they're
0:18.5	ready for all of it the star Wedbush analyst Dan Ives is here with me on set
0:22.4	right at post 9, Shannon
0:24.1	Sakosha, Joe Terranova of the Half-Time Investment Committee with all that
0:28.3	is riding on these numbers, especially after a day like this.
0:33.6	We're going to have those numbers.
0:34.6	I said they're going to be imminent.
0:36.0	Dan Ives, your expectations.
0:37.7	We can start with Amazon.
0:38.9	$3,800 is your price target.
0:40.8	You get a buy on that and the stock running up today right
0:43.2	into it I think right now it's a white knuckle period and I believe we see
0:46.7	strength from Amazon as well as Apple I think Amazon the thing to focus on the
0:51.7	cloud story similar as we saw in Microsoft as well as
0:55.0	Google.
0:56.0	That's important in terms of what we see on the enterprise side.
0:58.0	And it just continues to be, these are the stalwarts that will move Tachire.
1:02.0	That's the key to what we're seeing this week.
1:03.6	I'm looking at 2800 is exactly where the stock is right now.
	...

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