Apple stocks rising fast as other Big Tech firms fall hard
Following its quarterly earnings report, Apple has seen its stocks go up 7% -- and seemingly rising -- while all other Big Tech firms have seen steep declines.
Apple reported that it had earned $90.15 billion in its latest financial quarter, and also that it was unable to make enough of the iPhone 14 Pro to meet demand. The combination of demand, sales, and a difficult economic market had already seen investors recommending Apple.
"We're hard pressed to find a company in our coverage that is operating at the level of consistency that Apple is," wrote analysts for Morgan Stanley.
Wedbush summarized the results by describing Apple as a "Rock of Gibraltar name in large-cap tech with Cook flying Cupertino through this economic storm."
As markets opened on Friday, the day after the financial earnings call, Apple stocks began rising an initial 6%, then 7%, and at time of writing verging on 8%.
In comparison, CNBC reported that Amazon's stock dropped 8% the day after its own financial earnings call. In short order, Amazon, Microsoft and Meta all missed analysts' expectations of the earnings.
And CNBC says Facebook owner Meta saw its shares drop 24.5%, again immediately after its earnings call. Both Meta and Amazon issued a warning about their next quarters, but so did Apple.
The difference is that investors seem to have more faith in Apple's longterm plans than, for instance, Meta and Facebook's metaverse ones.
"We believe tonight's results demonstrate the durability of Apple's product and services ecosystem," reported Morgan Stanley analysts. They also say that "there remain a number of micro and macro factors that Apple needs to contend with over the next few months," they said Apple had given "what we thought was solid December quarter guidance."
Previously, CNBC's Jim Cramer has described Apple as "the greatest stock of all time."
Read on AppleInsider
Apple reported that it had earned $90.15 billion in its latest financial quarter, and also that it was unable to make enough of the iPhone 14 Pro to meet demand. The combination of demand, sales, and a difficult economic market had already seen investors recommending Apple.
"We're hard pressed to find a company in our coverage that is operating at the level of consistency that Apple is," wrote analysts for Morgan Stanley.
Wedbush summarized the results by describing Apple as a "Rock of Gibraltar name in large-cap tech with Cook flying Cupertino through this economic storm."
As markets opened on Friday, the day after the financial earnings call, Apple stocks began rising an initial 6%, then 7%, and at time of writing verging on 8%.
In comparison, CNBC reported that Amazon's stock dropped 8% the day after its own financial earnings call. In short order, Amazon, Microsoft and Meta all missed analysts' expectations of the earnings.
And CNBC says Facebook owner Meta saw its shares drop 24.5%, again immediately after its earnings call. Both Meta and Amazon issued a warning about their next quarters, but so did Apple.
The difference is that investors seem to have more faith in Apple's longterm plans than, for instance, Meta and Facebook's metaverse ones.
"We believe tonight's results demonstrate the durability of Apple's product and services ecosystem," reported Morgan Stanley analysts. They also say that "there remain a number of micro and macro factors that Apple needs to contend with over the next few months," they said Apple had given "what we thought was solid December quarter guidance."
Previously, CNBC's Jim Cramer has described Apple as "the greatest stock of all time."
Read on AppleInsider
Comments
Markets really are upside-down at the moment.
I've not read the word "doomed" used, except by Extremist Fan Boys who defend nothing but the status quo of things and who do nothing to drive humanity forward.
While I've been a genuine fan since my Macintosh 128K in 1984, owning Macs exclusively since then, never once in my life ever owing a single Windoze PC, I still know when to present indisputable facts when the occasion arises, without harboring any ill will toward Apple or my fellow Mac lovers. And then somebody like you comes along and reads only the negative in an otherwise hopeful post like mine. It's a fact AAPL has a long way to go, but I want it to go that way -- which is up, up, up, not down, down, down.
Sheesh.
Your crazy remark triggered me enough to spill my guts further, so here it goes...
I feel no need to WORSHIP what Extremist Fan Boys say I ought to worship. I still chuckle at the extremists who told me in this very forum that the SD card slot was never coming back and the butterfly keyboard was here to say. Poppycock! I was one of the true Apple fans who had the guts to write Apple feedback frequently telling them to make their bad stuff better. Guess what. Apple did. Because of me alone? Ha. No, because I am not alone in writing Apple feedback. I believe in action, not just silly forum talk that does nothing.
There are true Apple fans out there who love Apple enough to chastise Apple when it needs it, and those true fans aren't the one's going around using the word "Doomed" or getting ridiculously bent out of shape when someone like myself merely Googles "AAPL" and shows a graph that isn't negative but is instead a living and breathing REALITY. Goodness knows that my shares of AAPL, which I have owned since 1999 and never sold even a single share, could use a boost. So I have a vested interest in seeing it rise back to what it was in January. That is why I posted what I did, for crying out loud. It was nothing negative at all.
To think I was chastised for posting what APPL was a few months ago shows some folks in this forum really DON'T GET IT at all. I strongly suggest you folks take a break from this forum until you can start loving your fellow man, and start assuming the best in people, not the worst. And yes, I still have some level of respect for even the nuts who were brash enough to tell me the SD card was never coming back and the butterfly keyboard was here to say. Why? Because even though those guys were flat out wrong, we're all still Apple product fans, and I respect you folks more than Android and Windoze folks who hate our preferred platform and think we all are nuts for not joining them.
Have a nice day. Go AAPL!