Amazon expects good results for next quarter


Nikkei 225


▲ +61.81 / +0.19%

SSE Composite


▼ -19.25 / -0.59%



▼ -272.93 / -0.23%

Straits Times


▲ +17.48 / +0.53%



▼ -19.35 / -0.04%

Dow Jones


▲ +326.05 / +0.93%

DAX 30


▼ -1.10 / -0.007%



▲ +232.23 / +0.35%

FTSE 100


▼ -9.88 / -0.13%

JSE Top 40


▼ -17.72 / -0.02%

Last Week’s Highlights

Amazon sees a bright Q3 ahead Inc had a solid second-quarter performance, beating Wall Street expectations with sales and profit growth driven by fast and inexpensive product distribution and a rebound in cloud sales. After the announcement, Amazon shares rose 9%, adding more than $120 billion to its market value in post-closing trading. The company has faced several challenges but has demonstrated its ability to remain the world’s leading cloud services provider and online retailer. In addition, Amazon has expanded its technology offerings, including an artificial intelligence service similar to the chatbot ChatGPT, attracting more customers and consolidating its market position. For the third quarter, the company expects additional momentum from the success of its biggest sales day, Prime Day, and continued growth in its cloud and e-commerce operations.

Apple sales to keep falling

Apple shares fell 2% despite beating Wall Street’s fiscal third-quarter sales and profit expectations. The company forecast a continued sales decline in the next quarter, which generated concern among investors. Although the services segment and sales in China drove growth, weak iPhone sales and uncertainty about the following product, the Vision Pro mixed reality headset, pose challenges for the company. Despite the difficult situation in the smartphone market in China, Apple achieved “double-digit” growth in iPhone sales in that country. In addition, the company reached 1 billion subscribers on its services platform. Expectations are focused on possible announcements related to Vision Pro or developments in artificial intelligence that could boost business.

Coming Up This Week

Mixed perspectives over chip stocks

Stocks in the chip sector experienced a volatile day, marked by earnings reports that have generated mixed results. After facing challenges due to chip shortages and a loss of consumer confidence, chip stocks mostly rose, indicating that the outlook may not be as bleak as previously thought. Companies such as Applied Optoelectronics saw an impressive 64% gain, backed by a new supply agreement with Microsoft valued at $300 million over the next three years. However, not all companies posted gains, with Microchip posting a 6.26% decline. Although the analyst consensus views Applied Optoelectronics and Microchip as moderate buys, future growth expectations differ significantly, with Microchip offering the highest upside potential of 13.37%.

Funko shares take a nosedive

Funko took a financial hit as its stock plummeted 14% on disappointing guidance. Projected sales for 2023 fell short of analysts’ expectations, and third-quarter sales are also expected to be below consensus. To counter the difficulties, the pop culture collectibles company reduced its workforce by 12%, eliminating 180 positions. Despite these challenges, there was some good news, as net sales and the gross operating profit financial indicator met forecasts, and the CFO’s cost-cutting plan appeared to be on track. Funko is also simplifying the business by reducing product lines. Although analysts maintain a “hold” rating on the company’s stock, the current difficulties are creating uncertainty in the market.


On Friday, Wall Street closed lower after reports of slowing U.S. job growth, leading investors to worry about potential negative surprises in the market.

In addition, Apple’s disappointing earnings report also put pressure on the market, leading some investors to take profits after five months of gains driven by favorable economic data and a rise in Treasury yields.

The Dow Jones index dropped 150.27 points, or 0.43%, to 35,065.62, the S&P 500 fell 23.86 points, or 0.53%, to 4,478.03 and the Nasdaq declined 45.18 points, or 0.32%, to 13,914.54.
Morgan Stanley sees at least 50% gains in these 2 stocks.

More Things to Sip On…

Tupperware skyrockets on debt restructuring.
GOOGL slashes its stake in Robinhood by 90%.
Qualcomm comes back with new tech deal.


An investment in knowledge pays the best interest.

– Benjamin Franklin –

All information provided was collected up to the last business day of the previous week of the release of this NewsFlight. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in NewsFlight are not representative of FlexInvest.