Sales in the rest of the Asia Pacific region were $10.2 billion, up 7%. Apple and Microsoft have long paid dividends (both yield under 1% now). Meta Platforms surprised Wall Street Thursday by initiating a cash dividend. Apple said it expects gross margin in the quarter in the 46% to 47% range, up a little from 45.9% in the December quarter.

Ultimately, Hogan thinks that this year’s market rally is likely to continue, with Wednesday’s pullback to remain a blip on the radar. The move upward on Thursday indicates that investors are not only correcting Wednesday’s overreaction but are ultimately optimistic on the rate cut outlook, said Art Hogan, chief market strategist at B. Analysts at Bloomberg Intelligence said building sales momentum should help the e-commerce giant to Wall Street estimates when it reports earnings results. The boost is thanks to the October producer price index (PPI) coming in at 8%. The annual core PPI also came in at 6.7% year-over-year (YOY), much better than the prediction of 7.2%. According to Wallet Investor, AMZN one year forecast is $150, meaning the stock will trade for that amount in 2023.

That is a fair prediction, considering that Longforecast has already predicted that the stock will reach a maximum price of $175 in December 2023. Let’s move on to AMZN price predictions year by year to determine whether now is still a good time to buy or sell the stock. Meta expects its first-quarter revenue to come within a range $34.5 billion is avatrade trustworthy to $37 billion. Advertising revenue in the quarter was up 27% to $14.7 billion, well above the Street consensus at $14 billion. Last month, the executive posted on Instagram that his company plans to have 350,000 Nvidia H100 graphics processing units—and almost 600,000 H100 equivalent GPUs based on total computing power—by the end of this year.

According to 43 analysts, the average rating for AMZN stock is “Strong Buy.” The 12-month stock price forecast is $172.77, which is an increase of 8.47% from the latest price. The stock market is overall doing well as the latest PPI data instills hope in investors. Stalling inflation is something the economy desperately needs as rising prices weigh on markets. Apple also reported a worrisome decline in its China business, where, the company is seeing new competition in the smartphone market from Samsung and others.

The action follows a Wednesday sell-off that started after Federal Reserve chair Jerome Powell indicated that a rate cut at the March meeting was unlikely. “We model 13% growth in AWS in 4Q and believe the Street expectation is in the 12.5% to 13.0% range, based on our conversations,” JPMorgan said. CFO Olsavsky said revenues from generative AI are accelerating rapidly at the company, and that they’re seeing “significant interest” from customers wanting to run AI applications. The company doesn’t split out the amount of revenue it gets from AI products in its AWS division.

Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. Meta’s board of directors also declared its first-ever dividend, $0.50 per share, payable on March 26, 2024. Subscription revenue was $10.5 billion, up 14%, and a little ahead of the Street forecast at $10.3 billion. Meta’s new dividend could broaden Meta’s institutional ownership to investors who want or need dividends in their holdings. Maestri said that Apple bought back $20.5 billion of stock in the latest quarter, and now has $$65 billion in net cash and securities. “In the December quarter a year ago, we faced significant supply constraints on the iPhone 14 Pro and 14 Pro Max due to Covid-19 factory shutdowns,” Maestri said on the call.

He says Apple is spending “a tremendous amount of time and effort” on AI. “We’re excited to share the details of our ongoing work in that space later this year.” The key news item driving the stock higher was a bullish note on the stock from Roth MKM, which raised its price target from $165 to $180.

  1. The cloud computing division, meanwhile, has stabilized and executives say growth will accelerate this year as corporate customers resume their spending.
  2. IPad sales were $7 billion, down 25%, and below the Street’s $7.4 billion forecast.
  3. Ultimately, Hogan thinks that this year’s market rally is likely to continue, with Wednesday’s pullback to remain a blip on the radar.
  4. Online store sales were $70.5 billion, up 9%, above the Street consensus at $68.7 billion.
  5. The company doesn’t split out the amount of revenue it gets from AI products in its AWS division.

Services revenue was $23.1 billion, up 11%, but slightly shy of the consensus view at $23.3 billion. Tech companies that don’t pay dividends have historically said it’s due to prioritizing spending elsewhere – around areas of growth. CFO Luca Maestri said that in the year ago March quarter, the company had an extra $5 billion in revenue related to unusual dynamics in the iPhone business. After backing out that factor, he said, Apple’s current quarter revenue–both overall and for the iPhone segment–should be about flat from a year ago.

Sales & Book Value

Online store sales were $70.5 billion, up 9%, above the Street consensus at $68.7 billion. Revenue from third-party seller services was $43.6 billion, up 20%, and likewise ahead of consensus, at $42.1 billion. “While we are not providing guidance for years beyond 2024, we expect our ambitious long-term AI research and product development efforts will require growing infrastructure investments beyond this year,” the company said. Late Thursday, the company said it expects its full-year 2024 capex will be in the range of $30 billion to $37 billion. That’s up from prior guidance of $30 billion to $35 billion given three months ago. IPhone revenue was $69.7 billion, up 6%, and ahead of the Wall Street consensus forecast of $65.8 billion.

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The numbers, provided on Apple’s earnings call Thursday night, are a little messy. Meanwhile, Apple will begin shipping its Vision Pro mixed reality headset to customers on Friday. Cook said the company will expand shipments of the Vision Pro to other countries later this year.

‘Expect retail to be a bright spot’: Here’s what Wall Street expects from Amazon’s 4th-quarter earnings report

It also maintained its buy rating and called the stock its top megacap pick for 2024. South Korea’s consumer price index rose 2.8% year on year, marking a third straight month of declines. Aozora plunged by as much as 18.5% to 2,080 yen in early Tokyo trading, sending its shares to their lowest levels since February 2021. Furthermore, high crude oil and energy prices in recent quarters are have impacted prices in other industries, the bureau added. Chevron, Exxon Mobil, Bristol-Myers Squibb, Cigna and AbbVie are all due to report earnings before Friday’s bell. The Dow Jones Industrial Average added 0.97%, while the S&P 500 and Nasdaq Composite respectively gained 1.25% and 1.3%.

“We’re looking for ways to increase our advertising,” he said — and not just across streaming services like Prime Video, but also on platforms like Freevee and Twitch. We’d like to share more about how we work and what drives our day-to-day business. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams.

Amazon Analyst Data

That would blow past its previous closing high of $401.02 set on Monday. Meanwhile, initial jobless claims data on Thursday showed claims jumped to 224,000 for the week ending January 27, above consensus expectations. Investors will be focused on the nonfarm payroll report on Friday morning. Australia’s statistics bureau said producer prices saw “moderate rises across most industries,” adding that “sustained growth in construction outputs is driving the rise.” The increase also marked an end to four straight quarters of declining growth in the PPI.