Wall Street Breakfast: Alphabet, Amazon, Apple
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 3 February 2023
⏱️ 8 minutes
🧾️ Download transcript
Summary
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Seeking Alpha's Wall Street Breakfast brings the top news to investors every morning. Released by 8:00am ET, it's all the news you need to know for your market day.
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Friday, February 3rd, the first Friday in February, also known as Wear Red Day, I'm your host Julie Morgan. |
| 0:16.2 | Our top stories. |
| 0:18.0 | Apple, Amazon, and Alphabet. |
| 0:20.4 | All three are in the red before the market after reporting a mixed bag of earnings. |
| 0:25.8 | The jobs report is due out today. |
| 0:28.0 | Seeking Alpha, contributor Leo Nellison said the numbers could highlight once again that underlying inflation is too high to ignore. |
| 0:36.8 | And activist Ryan Cohen has reportedly taken a stake in Nordstrom. |
| 0:41.2 | Shares of the department store are up 30% on the news. We begin with |
| 0:46.7 | tech. Apple is down nearly 4% pre-market. Thursday the tech giant posted first quarter results that were worse than expected due in part to significant supply constraints. |
| 0:58.0 | For the period ending December 31st, Apple earned $1.88 per share on revenue of $17.15 billion. |
| 1:07.6 | This fell short of analyst's projections for a profit of $1.95 cents per on 121.65 billion in revenue. |
| 1:16.0 | If you remember before Christmas, Apple warned that the iPhone 14 |
| 1:19.7 | pro would be supply constrained due to the COVID-19 pandemic and its drastic impact on China. |
| 1:25.7 | CEO Tim Cook said during the company's conference call that Apple would have grown in the vast |
| 1:30.5 | majority of the markets it operates on a year over year basis if not for the significant |
| 1:35.8 | 800 basis point foreign exchange headwind. |
| 1:38.8 | He also noted that iPhone production is now back to where Apple wants it to be. |
| 1:44.0 | Alphabet shares are down nearly 5% pre-market. |
| 1:48.0 | Thursday, the Google Parent Company reported fourth quarter earnings and sales that fell short of expectations as revenue from |
| 1:54.8 | advertising declined from a year ago. |
| 1:57.5 | Alphabet said that for the quarter ended December 31st it earned $1.05 a share versus the 1.20 cents expected. |
... |
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