Non-Farm Friday – Rising Payrolls and Magnificent 7 Earnings Reports

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We’re waiting for the payroll numbers but let’s take a look at the earnings reports from the Magnificent 7 (so far):

  • Nvidia (NVDA): The chipmaker will report its earnings on Feb 23, 2024. Analysts expect a revenue of $12.4 billion and an earnings per share of $2.81, The stock closed at $630.27, up 308% from a year ago. 

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  • Meta Platforms (FB): The social media giant beat analysts’ expectations for both revenue and earnings in the fourth quarter of 2023, posting $40.3 billion in revenue, up 140% year-over-year, and $3.89 in earnings per share, up 37% year-over-year. Meta also revealed that it has 3.5 billion monthly active people (almost half the people in the World!) across its family of apps, including Facebook, Instagram, WhatsApp, and Messenger. The stock closed at $394.78, up 194% from a year ago.
  • Tesla (TSLA): The electric vehicle maker delivered a record 1.8 million vehicles in 2023, up 87% from 2020. Tesla also unveiled its Cybertruck and Model 2 prototypes, which are expected to fully launch in 2024 and 2025, respectively. The stock closed at $188.83, essentially flat to last year – causing Cramer to call for them to be kicked out of the seven.

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  • Amazon (AMZN): The e-commerce and cloud computing giant reported a $170 billion quarter in the fourth quarter of 2023 and earnings per share of $1.92. Amazon also announced that its Prime membership reached over 200 million worldwide, and that its AWS segment grew 28% year-over-year to $24.2 billion in revenue. The stock closed at $159.28, up 54% from a year ago.
  • Alphabet (GOOG): The parent company of Google reported a stellar quarter in the fourth quarter of 2023, with revenue of $86.3 billion, up 23% year-over-year, and earnings per share of $1.64, up 45% year-over-year. Alphabet also disclosed that its YouTube platform generated $9.2 billion in revenue in 2023 and that its Google Cloud segment also generated $9.2Bn in Revenues. The stock closed at $142.71, up 42% from a year ago.

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  • Microsoft (MSFT): The software giant beat analysts’ estimates for both revenue and earnings in the second quarter of fiscal 2024, reporting revenue of $62 billion, up 18% year-over-year, and earnings per share of $2.93 ($21.9Bn), up 33% year-over-year. Microsoft also announced that its Office 365 and LinkedIn platforms each surpassed 1 billion monthly active users, and that its Azure cloud service grew 50% year-over-year. The stock closed at $403.78, up 57% from a year ago.
  • Apple (AAPL): The iPhone maker reported its best quarter ever in the first quarter of fiscal 2024, with revenue of $119.5 billion, up 21% year-over-year, and earnings per share of $2.18, up 35% year-over-year. Apple also announced that it had 1.65 billion active devices worldwide, including over 1 billion iPhones, and that its services segment reached an all-time high of $21.7 billion in revenue. The stock closed at $186.86, up 29% from a year ago but is struggling due to a 13% decline in China sales.  

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