Wedbush Analyst Dan Ives said on thursday to call from Apple AAPL, Amazon.com AMZN and Google Parent Alphabet Inc. Google goog It paints a different “demand picture” than what Tech Bear imagined.
What happened: “Big Tech calls from Apple, Amazon and Alphabet paint a much different demand landscape than what the tech bears hoped for,” Ives said on Twitter.
“Caution in the air sounds like a backdrop for a soft landing. Many set fire to a more crowded Theater Tech eps season than feared,” said a Wedbush analyst. .
In an earlier tweet, Ives said that Apple’s demand is “stronger than feared” and that the services sector “shows a significant recovery.”
Ives is Apple’s CEO Tim Cook was confident in company conference calls. He said comments about his iPhone in March were positive and will be a focus for Street. He said, “Teflon is like Cupertino, despite the macro storm clouds.”
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Important reasons: Apple reported earnings per share of $1.88 for the first quarter, missing consensus expectations of $1.94 per share. iPhone sales fell 8.17% year-over-year to $65.78 billion, below the $68.9 billion forecast. Morgan Stanley Analyst Eric Woodring.
Amazon reported fourth-quarter net sales of $149.2 billion, up 9% year-over-year. That beats Street’s estimate of his $145.45 billion, according to Benzinga Pro data.
Alphabet said fourth-quarter revenue was $76.05 billion, up 1% year-over-year, beating the average analyst estimate of $75.69 billion. The company said it was on a “significant journey” to redesign its cost structure.
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