Diamonds and Dogs

2/3/23

Apple (AAPL) one of the few techs to close higher following lackluster earnings. Apple closed up 2.4% as iPhone sales lagged. The first quarter doesn't look much better, but the analysts are still bullish long term as China looks to grow once again and cost cuts improve margins.

Amazon (AMZN) didn't have a good day. After a big run up into earnings, Amazon fell 9% after its worst fourth quarter earnings report in 8 years and a net loss of $2.7 billion for the full year, its biggest loss ever. Amazon did experience good growth in advertising revenues, up 23% year-over-year, excluding the impact of foreign exchange, but pretty much everything else was not good.