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Shares fell about 11% in trading after the bell as both revenue and core earnings forecasts for the current quarter were below expectations. The dismal forecast follows job cuts by Lyft, which is trying to cut costs under new CEO David Risher who took charge last month. Lyft's adjusted core earnings of $22.7 million also exceeded expectations of $12 million, according to Refinitiv data, despite a 13.2% rise in costs to $1.22 billion from a year ago. But its revenue as well as core earnings forecast for the current quarter was below market expectations. The company said it expected revenue of $1 billion to $1.02 billion, below estimates of $1.08 billion and core earnings of $20 million to $30 million, way behind expectations of $49.3 million.

☆ Apple expected to announce $90 billion in buybacks and dividends when it reports earnings
▼ + stars: | 2023-05-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

When Apple reports quarterly earnings on Thursday, the results are expected to be somewhat muted — the company already guided investors to a 5% revenue decline due largely to decreases in Mac and iPad sales. Wall Street expects that number to come in at $90 billion, equal to last year's authorization figure, based on a compilation of analyst reports. From 2012 through the end of 2022, Apple spent over $572 billion on share repurchases, the most of any company, according to FactSet data. Second to Apple in the buyback realm is rival Alphabet , with $178.5 billion in share repurchases over the decade. The Google parent just said its board authorized a $70 billion buyback for the year.

☆ Pinterest's ad woes hurt revenue growth, shares slump
▼ + stars: | 2023-04-27 | by ( Vansh Agarwal | ) www.reuters.com time to read: +2 min

While Pinterest said that the ad market was stabilizing, it warned the market was still uncertain. Shares of peer Snap Inc (SNAP.N) fell about 18% aftermarket on weak first-quarter revenue and the company warned it could miss estimates for the second as well. Analysts on average had expected $592.99 million, according to Refinitiv data. Pinterest said it expected revenue growth in the current quarter to be in line with revenue growth in the first quarter and the fourth quarter of 2022. Fourth quarter revenue grew 4%.

☆ Why India is so important to Apple
▼ + stars: | 2023-04-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

Cook said in February that Apple had its best sales quarter ever for iPhones in India in the quarter ending in December. Most phones sold in India are priced below even the least-expensive new Apple iPhone. India could end up being a big winner as Apple looks for non-Chinese manufacturing options. Tim Cook, Apple's Chief Executive Officer (CEO) reacts as a man shows him Apple's Macintosh outside the Apple store at Jio World Drive mall, Mumbai, India on April 18, 2023. Apple was bullish on India back then, too: "India will be the most populous country in the world in 2022," Cook told CNBC's Jim Cramer at the time, saying it had "huge market potential."

☆ Chip stocks posted their best quarter since 2020. What's next for the sector and why the rally may fade
▼ + stars: | 2023-04-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +8 min

Chip stocks made a breathtaking comeback in the first quarter, but don't be surprised if the rally gives up some of its gains, investors warn. The semiconductor sector on Friday wrapped up its best quarter since 2020 as investors rotated back into the downtrodden industry, with names like Nvidia notching its best quarterly stretch since 2001. The recent tear in semiconductor stocks brings the sector into overbought territory versus non-financial cyclicals, said Credit Suisse's Andrew Garthwaite in a recent note. Like many investors, Niles views Nvidia as a dominant AI play despite its rich valuation . While the stock's given those gains, many investors viewed the print as a sign of a bottom.

☆ Meta can't make any big acquisitions right now, as its $40 billion war chest starts going towards appeasing Wall Street investors
▼ + stars: | 2023-03-17 | by ( Asia Martin | ) www.businessinsider.com time to read: +5 min

Meta is repurchasing $40 billion worth of stock from investors, even as it cuts jobs. But as Meta's "year of efficiency" continues, Mark Zuckerberg needs to put its $40.74 billion cash pile to a more boring — but perhaps more practical — use: making shareholders happy. Since 2012, Meta Platforms, formerly called Facebook, has acquired over 100 companies, including big names like WhatsApp, Instagram, and Oculus. The social networking giant's revenue has ballooned over the years from $5 billion in 2012 to $116 billion last year. Meta can't do big acquisitions, and it needs to win over Wall StreetAntitrust scrutiny continues to be a thorn in its side when it comes to acquisitions.

☆ What metaverse? Meta says its single largest investment is now in ‘advancing AI’
▼ + stars: | 2023-03-15 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +4 min

“Our single largest investment is in advancing AI and building it into every one of our products,” Zuckerberg said Tuesday. And not to be left behind, Meta announced late last month that it was forming a “top-level product group” to “turbocharge” the company’s work on AI tools. “I do think it is a good thing to focus on AI,” Ali Mogharabi, a senior equity analyst at Morningstar, told CNN of Zuckerberg’s comments. In 2022, Meta lost more than $13.7 billion in its “Reality Labs” unit, which houses its metaverse efforts. After taking a beating in 2022, shares for Meta have surged more than 50% since the start of the year.

☆ The new normal on Twitter: watching it break
▼ + stars: | 2023-03-12 | by ( Jennifer Korn | ) edition.cnn.com time to read: +5 min

When he would check his notifications tab on Twitter, Sinker, who has tens of thousands of followers, often saw the platform recommend the same weeks-old tweet from another user. Probably, but it becomes a less sure thing with each bit that falls off,” Sinker, a writer who has been on Twitter since 2007, told CNN. But in trying to cut his way to profitability, Musk risks making Twitter a less viable service. Weeks earlier, Twitter users encountered other various issues with the platform, including the inability to tweet, send direct messages or follow new accounts. After some publications pointed out the sudden surge in Musk posts in users’ feeds last month, the Twitter CEO responded: “Please stay tuned while we make adjustments.”

☆ How manufacturing chips in the US could make smartphones more expensive
▼ + stars: | 2023-03-09 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

So far, the law has spurred $200 billion of announced investment in U.S. chip manufacturing, the Semiconductor Industry Association said in December. How much of phone cost is in the chips On its face, a significant hike in chip prices has implications for consumers because chips are such a big component in overall phone manufacturing cost. For Samsung , the combined 5G modem and core apps processor add up to $193 of the $618 manufacturing cost of an S-22 Plus phone. Bringing chip manufacturing to the U.S. is expensive in many respects. "The high costs of construction includes labor costs, costs of permits, cost of occupational safety and health regulations, inflationary costs in recent years, and people and learning curve costs."

☆ Snap stands to benefit the most from a TikTok ban, analyst says
▼ + stars: | 2023-03-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnap stands to benefit the most from a TikTok ban, analyst saysAngelo Zino of CFRA Research says the probability of a TikTok ban has gone up significantly.

☆ Google, Meta, and Snap would be the biggest winners if TikTok is banned, with shares set to rise on billions in new ad revenue, CFRA says
▼ + stars: | 2023-03-08 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Some US lawmakers are working to ban TikTok. The research firm says TikTok could make $9 billion-$10 billion in US revenue in 2024. There probability TikTok will be banned is still low but it's gone up significantly over the last six months, the firm said. "We place less than a 50% probability that TikTok will be banned by the end of 2024," Zino said. "A TikTok ban would move the needle more for SNAP than others," said Zino.

☆ Snap stock surges as Congress renews efforts to ban TikTok
▼ + stars: | 2023-03-07 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

Virginia Democratic Sen. Mark Warner is expected to unveil bipartisan legislation Tuesday afternoon that expands President Joe Biden’s authority to ban TikTok and other suspected information technology risks from the United States, a person familiar with the matter told CNN. Angelo Zino, senior equity analyst CFRA Research, wrote in a note Monday that the “biggest beneficiaries of a TikTok ban” would be Snapchat, Facebook-parent Meta, and YouTube. “TikTok’s emphasis on short-form videos has increased engagement/time spent by consumers and has upended the entire industry, creating a headwind for META/SNAP,” Zino wrote. Shares of YouTube’s parent company Alphabet were essentially flat on Tuesday. A TikTok ban, or the possibility of it, may just be one more positive for Meta’s stock this year.

☆ CFRA's Angelo Zino breaks down Apple ahead of the earnings report
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCFRA's Angelo Zino breaks down Apple ahead of the earnings reportAngelo Zino of CFRA Research joins 'Closing Bell' to discuss what to watch on Apple ahead of earnings.

The company gave a lackluster quarterly revenue forecast a day earlier that it blamed on a tough economy, a strong dollar and "significant" poor product execution at Tinder. The cuts have already taken place in the United States and are being implemented in other countries. "In addition to the cuts, we expect Match to place greater emphasis on marketing its Tinder and Hinge brands, core areas of growth for 2023," CFRA Research analyst Angelo Zino said. It forecast first-quarter revenue between $790 million and $800 million, lower than analysts' estimates of $817.3 million, according to Refinitiv data. The company also reported its first-ever quarterly revenue decline.

REUTERS/Dado Ruvic/IllustrationFeb 1 (Reuters) - Match Group Inc (MTCH.O) said on Wednesday it would lay off about 8% of its workforce, a day after it forecast first-quarter revenue below Wall Street expectations. Shares of the Texas-based firm were down 7.8%, having lost 11% after the bell on Tuesday following its downbeat forecast. The dating company joins Big Tech firms and Wall Street titans in reducing staff as they strive to cut costs amid concerns of a recession. The workforce reductions at Match are in-line with staff cuts across the broader tech sector, Zino added. Reuters GraphicsMatch forecast first-quarter revenue between $790 million and $800 million on Tuesday, lower than analysts' estimates of $817.3 million, according to Refinitiv data.

"AMD remained resilient and even made gains in their datacenter chips...against Intel," said Wayne Lam analyst at CCS Insight. Chief Executive Lisa Su said she was confident AMD will keep gaining market share this year and that the second half would be stronger than the first. "First quarter should be the bottom for us in PCs and then grow from there into the second quarter and then into the second half," Su said on the earnings call. Analysts on average were expecting revenue of $5.50 billion, according to Refinitiv data. Analysts on average expected revenue of $5.48 billion, according to Refinitiv data.

"Everything hinges on the PC market recovery. Meanwhile, the data center market has also slowed from double-digit growth as businesses cut costs to ride out an economic slowdown. The company forecast first-quarter revenue in the range of about $10.5 billion to $11.5 billion. The company expects an adjusted loss of 15 cents per share versus expectations of a 24 cents per share profit. Revenue in the fourth quarter fell 32% to $14 billion.

☆ 'It's a lot more of headline risks than anything else': Analyst maintains bullish outlook on Apple
▼ + stars: | 2022-12-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTAn Apple store on Nanjing Road Pedestrian Street in Shanghai, China, on December 16, 2022. The outbreak could potentially cause worker shortages at component plants or assembly factories across the country. For the last two months, Apple has already been grappling with production shortages. In November, iPhone 14 production was hit by Covid-19 restrictions and labor protests at its primary iPhone 14 Pro and iPhone 14 Pro Max assembly plant in Zhengzhou, China. Despite shortages, many analysts predicted that Apple customers will continue to be loyal to the brand's products.

☆ Apple and Microsoft have held up despite headwinds in the tech sector, analyst says
▼ + stars: | 2022-12-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple and Microsoft have held up despite headwinds in the tech sector, analyst saysAngelo Zino of CFRA Research says "they have the best … free cash flow predictability."

☆ Apple's iPhone Pro shipments may fall 20 mln units short of estimates - analyst
▼ + stars: | 2022-11-29 | by ( Akash Sriram | ) www.reuters.com time to read: +2 min

Nov 29 (Reuters) - Apple Inc's (AAPL.O) iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said. He trimmed his estimate for quarterly iPhone shipments by about 20% to between 70 million and 75 million units, compared with the market consensus of 80 million to 85 million units. In contrast, other Apple analysts expect sales to pick up once production constraints ease and more Pro models become available. "I can't imagine 2023 will be a solid year for Apple iPhones," said Zeno Mercer, research analyst at investment advisory firm ROBO Global. "Those looking to make an upgrade have, and otherwise disposable income for next-gen phones should be down."

☆ Apple earnings: Is the iPhone 14 recession proof?
▼ + stars: | 2022-10-27 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN Business —Apple is about to offer its first hints about iPhone 14 sales after weeks of rumors that demand for its latest smartphone lineup could be weaker than initially expected. On Thursday afternoon, Apple will report earnings results for the September quarter, a period that includes about two weeks’ worth of sales of the iPhone 14 lineup. Apple (AAPL) shares briefly dipped last month following a report that the company had abandoned plans to increase production of the iPhone 14 lineup in the second half of this year because of lower-than-expected demand. The higher-cost iPhone 14 Pro model appears to be the most popular of the new models, which is expected to boost average selling prices for iPhones across the board, according to Angelo Zino, senior equity analyst at CFRA research. Apple earlier this week raised the prices for its music and TV streaming services, which could help boost sales going forward.

Wall Street banks committed to helping Elon Musk finance his $44 billion takeover of Twitter stand to $500 million in the process, by some estimates. One of Musk's banks has even told its staff to expect a borrowing notice from Musk by today, Bloomberg reported. But don't feel sorry for the banks just yet — a group that comprises Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and SocGen. The group consists of Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho, and SocGen. Birchall's eldest son Benjamin even interned at Morgan Stanley for his ex-colleagues Frank Malone and Jon Neuhaus in the summer of 2021.

☆ Tech earnings are coming and they probably won’t be pretty
▼ + stars: | 2022-10-20 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

Apple (AAPL), Amazon (AMZN), Facebook (FB)-parent Meta, Microsoft (MSFT), Twitter (TWTR) and Google-parent Alphabet (GOOGL) will each report earnings results the following week. “People probably should be bracing themselves for these results,” said Scott Kessler, technology global sector lead at research firm Third Bridge Group. Rampant inflation is eating away at consumers’ paychecks and reducing their ability to spend freely on tech products and services. To make matters worse, tech companies must also confront the growing strength of the US dollar, which is currently trading at its highest level in two decades. Many of the issues currently weighing on tech companies are unlikely to let up anytime soon, which is why industry watchers will be paying close attention to the guidance these companies offer for the rest of 2022.

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