Weekly Update 04/27/2016 Technology

Technology

April 27

Runzhong(Frank) Zhang

General Trend: bad week for high-tech sector

Apple

Apr 21, 2016, Q1 2016 Alphabet Inc Earnings Release

Apple reported revenue of $50.56 billion (down 12.9 percent) for the three months to the end of March, while earnings per share came in at $1.90 per diluted share. The consensus among Wall Street analysts before the results were announced was for Apple to report revenue of $52 billion and earnings per share of $2.

·      Apple Inc.'s stock price took a hit at the start of trading on April 27, dropping over 8 percent after the company missed Wall Street estimates on earnings and revenue for the first time in four years

·      The slowdown in the global smartphone market wiped $40 billion off the company's market value.

Alphabet

Apr 21, 2016, Q1 2016 Alphabet Inc Earnings Release

The company reported revenue of $20.26 billion, which compared to consensus estimates of $20.32 billion. Alphabet also reported non-GAAP EPS of $7.50 versus consensus at $7.96.

·      Google missed on revenue and earnings this quarter, which was broadly unanticipated.

Stocks to Watch:

Facebook:

Apr 27, 2016 Q1 2016 Facebook Inc Earnings Release
Facebook posted a 52% surge in first-quarter revenue, crushing the estimate.

Amazon:

Apr 28, 2016

Q1 2016 Amazon.com Inc Earnings Release