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Apple Inc – Reported a big win over the global chips supply-chain shortage beating with its latest quarterly numbers. The iPhone maker, which had warned three months ago that supply issues would dent its holiday-quarter revenue, on Thursday posted record results largely boosted by sales of its premium phones. It sees an improving situation, if some remaining shortages. AAPL posted record Q1 sales of $123.9 bln, well above Wall Street estimates of $118.7 bln, reports Q1 profit of $34.6 bln, above estimates of $31 bln. Apple delivered an outstanding quarter, providing an adequate supply to the Chinese market amid tight global supply – Counterpoint Research.
Robinhood Markets – Trading lower even as the company’s results edged past analysts’ estimates for quarterly revenue on Thursday as strong crypto trading boosted transaction volumes at the online brokerage. Overall, its net loss was steeper than anticipated, monthly active users dropped about 8% from the previous quarter and average revenue per user tanked. Robinhood also said it expects operating expenses, which soared in 2021, to rise 15% to 20% this year, excluding compensation costs.
Tesla Inc – Back on watch after yesterday’s, post earnings sell off. Tesla‘s most important products this year and next will not be cars, according to chief executive Elon Musk in a message Wednesday, and more specifically software that drives them both autonomously and a humanoid robot. Multiple analyst moves on the stock today.
Western Digital Corp – Sharply lower after forecasting Q3 revenue between $4.45 bln and $4.65 bln, below est. of $4.75 bln, according to Refinitiv data. Reported Q2 revenue of $4.83 bln vs est. of $4.82 bln. The better than expected results came in spite of supply chain disruptions and COVID-related challenges that continue to impact the business. Specifically, supply chain disruptions impacted cloud hard drive deployments at certain customers, which led to a sequential decline in exabyte shipments. The company’s forcast missed estimates.
Caterpillar Inc – Lower after saying Q1 operating margins could take a hit from higher production and labor costs. Q4 sales rose 23% to $13.80 billion, beating estimates of $13.15 billion, according to Refinitiv data, on sustained demand for its heavy machinery and construction equipment. The company’s sales have surged over the last year as construction demand across the majority of its regions saw an unprecedented level of public spending.
Visa Inc – Visa on track to open at its highest in a week after posting a Q1 profit of $3.9 bln, or $1.81/share vs est of $1.7/share. Net revenues for the world’s largest payments processor rose 24% to $7.1 bln. More international travel and an increase in e-commerce drove higher transactions through V’s cards. 37 of 40 brokerages rate the stock “buy” or higher and 3 “hold”; their median PT is $275.5.
Affirm Holdings – Higher premarket after announcing late yesterday it will partner with Visa for its debit card and services.
Imperial Petroleum – Micro cap, low float energy stock getting attention from trading focused social media sites.