- Amazon causes poor investor sentiment.
- Apple shocks the market.
- Musk going after Coca-Cola next??
Amazon (AMZN) stock prices show improving investor confidence despite disappointing revenue forecasts.
During post market trading yesterday, the AMZN share price fell by almost 10%. This fall comes after the tech giant made its earnings announcement, this was because the earnings missed investor forecasts. The slightly disappointing revenue in Q1 of Amazon came as a result, amongst other things, of a decrease in consumer spending online and a return to in-person-activities.
Amazon attributed its disappointing earnings to the current adverse economic conditions partly coming from the Russia-Ukraine conflict and partly from the issues around supply chains. Their earnings increase is 37% lower (Q1 2022: 7%, Q1 2021: 44%) than this time last year and their EPS has fallen by 0.84 cents for the same time period.
AMZN Share Price Chart
Apple earnings announcement left investors feeling bullish
Apple share prices increase inlight of favorable earnings reported by the tech giant. The earnings reported were better than the market expected. Although the Q1 earnings for Apple are causing the share price to increase, concerns still remain around the future supply chains of this tech giant, they can be heavily impacted by China’s “zero-covid” policy and its lockdowns.
APPL Share Price Chart
Elon Musk targeting Coca-Cola next?
On Wednesday night Elon Musk posted a tweet on his platform suggesting or joking about acquiring the Coca-Cola company, this comes after his offer to buy Twitter (TWTR) was approved by the board. Musks tweet was as follows “Next I’m buying Coca-Cola to put the cocaine back in”. Although many of the world’s richest man's followers saw the tweet as a joke, there was a time when people thought his quest for TWTR was a joke too.
The tweet caused Coca-Cola’s share price to drop hugely, the price has since recovered, but what does the future hold for this beverage giant ?
KO Share Price Chart
Sources: dailyfx.com, Finance.yahoo.com