Weekly Buzz: Wild week of earnings from some top tech companies
Happy Friday, mooers! Welcome back to Weekly Buzz, where we review the news, performance, and community sentiment of the selected buzzing stocks on moomoo platform based on search and message volumes of this week! Answer the Weekly Topic question for a chance to win an award next week!
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Friday, The US stock market took a breather from its blistering rally as disappointing financial results from $英特尔(INTC.US)$ dragged down the semiconductor sector, muting gains in financial stocks.
For the week, the $S&P 500 Index(.SPX.US$ finished up 1.06%, to a weekly close record of 4,890. The $Nasdaq Composite Index(.IXIC.US$ rose 0.94% to 15,455. The $Dow Jones Industrial Average(.DJI.US$ gained 0.65% to 38,109.
Trump stocks started related meme stocks strong Monday during the New Hampshire primary.
Tuesday was a mixed trading day, as traders eyed Netflix earnings and a Potential Chinese bailout and took a breather after Monday's record performance from two major benchmarks.
U.S. Stock indexes finished mixed on Wednesday, with the S&P 500 barely eking out a fourth consecutive all-time high despite a batch of well-received earnings reports. In data released on Wednesday, the S&P flash U.S. services and manufacturing PMI reports both jumped in January. The S&P hit a fourth all time high, while the Dow pulled back.
Thursday, Major U.S. stock indexes are advancing after the latest economic data showed America defied projections of a recession last year. The economy grew at a stronger-than-expected pace in the fourth quarter without an uptick in inflation. Tesla Earnings disappointed Wednesday evening, sending EVs down in a big way.
Finally, on Friday Semis fell 1.9%, becoming moomoo's worst-performing sector. Intel was the biggest loser on the S&P 500, followed by semiconductor equipment maker $科磊(KLAC.US)$. The decline also dragged the tech-heavy Nasdaq, with $GlobalFoundries(GFS.US)$ earning the spot as the third-worst performer on the gauge. $应用材料(AMAT.US)$ and $微芯科技(MCHP.US)$ also joined that list.
Personal consumption expenditures (PCE) price index, an inflation gauge that's closely watched by the Federal Reserve, increased 2.6% in December from a year earlier, matching the pace of gains in November. Excluding food and energy, PCE slowed to 2.9%, from 3.2% in November, data from the Department of Commerce showed.
Meanwhile, pending home sales rose by 8.3% in December, helped by declining mortgage rates and stable prices, the National Realtors Association said in a press release Friday. That exceeds the 2% increase expected in estimates compiled by Bloomberg.
Crude oil futures posted a weekly gain as a strong economic data fueled demand growth optimism at a time when production outages in the U.S. and shipping delays in the Middle East threatened supply. China's stimulus also improved the outlook in the world's largest energy consumer.
Let's dive into the weekly buzzing stock list this week:
Tesla shares tumbled 9% Thursday morning after the company warned that volume growth in 2024 "may be notably lower" than in 2023 as its team work on the launch of next-generation vehicle at its gigafactory in Texas.
Phunware shares traded higher on Tuesday amid volatility in Trump-related stocks due to the New Hampshire primary. The stock surged higher by over 30% when Donald Trump won the Republican presidential primary in New Hampshire on Tuesday.
AMD shares hit an all-time high on Thursday as the artificial intelligence frenzy continues. As AMD approaches its Q4 earnings release post-market on January 30th, the main focus is on the growth potential of AI chips. AMD is expected to post quarterly GAAP earnings per share $0.26 in its upcoming report, representing a year-over-year change of 2498%. Revenues are expected to be $6.14 billion, up 9.64% from the year-ago quarter.
Conservative-oriented media firms soared more than 40% Tuesday as stocks some consider proxies for former President Donald Trump’s re-election chances continued a multi-session rally. Digital World Aquizition, a SPAC aiming to take Trump's Truth Social public, rose on the news.
AMC's short percent of float has risen 3.51% since its last report. The company recently reported that it has 24.10 million shares sold short, which is 9.74% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.35 days to cover their short positions on average.
@Licensed-degen : just remember it not about supply and demand its what active managers believe the stock should be priced at.
NIO shares are trading lower by 2.6% to $5.91 Thursday morning. Shares of several electric vehicle stocks are trading lower after Tesla Inc reported worse-than-expected fourth-quarter financial results.
@NOOB212 : the only thing to make this shit stock go higher is to replace those useless top managements. Starting from the CEO
Netflix's Q4 results and projections for 2024 indicate the entertainment and streaming company is "outperforming our more bullish expectations," Morgan Stanley said Wednesday in a report. The company added 13.1 million new subscribers in Q4, showcasing a healthy growth runway Morgan Stanley said.
@Liammmn: Streaming services aren’t going anywhere in the short term.
Bloomberg reported that Alibaba and other Chinese stocks rebounded on Tuesday after the Chinese government is considering a package of measures to prop up the stock market, citing anonymous sources. Plans involve mobilizing 2 trillion yuan ($282 billion) from offshore accounts of state-owned enterprises to buy shares in Hong Kong and using 300 billion yuan of local funds to invest in onshore shares, the report said.
@Labi_7718 : gogo baba! To the moon!
Rumble, the video-streaming platform, said it has partnered with digital-media company Barstool Sports. Through the partnership, Rumble users will access all Barstool Sports content on the platform, including live streams. Barstool will also market and promote Rumble as their preferred video home.
@Liquid Sharts: Love the idea and the access to capital for the content creators!
Tesla revealed late Wednesday that its vehicle volume growth rate may be "notably lower" this year than in 2023. Tesla's rivals, particularly the Chinese names with which it competes in the world's largest EV market. NIO stock tumbled 4.7% in Hong Kong trading with the U.S.-listed shares down 1.3% in premarket trading. XPeng stock dropped 3.4% in Hong Kong, though its U.S. shares gained 0.3% in the premarket.
@21229331 : Xpeng is getting dragged down by this **** Tesla
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Weekly Topic
Big Tech Earnings are next week. After Tesla's disappointing results, do you think other members of the Mag 7 will fail to live up to expectations?
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102362254 : Tesla's results in Q4 2023 may not be indicative of the broader tech sector, as it faced specific challenges in the EV market. Its revenue growth was hampered by global price cuts and supply chain issues.
It is hard to predict with certainty how the Mag 7 will perform next week. But based on historical trends, I would say that the Mag 7 are likely to outperform Tesla and the broader market in terms of earnings growth, given their resilience, innovation, and diversified revenue sources. Unless there is a major negative shock or a shift in market sentiment, the other members of the Mag 7 are likely to live up to expectations.
WinningTrader : Competition in EV is too much now. EV stocks may not be a good long term investment.
Printing money : something
HuatLady : Tesla’s recent dip might not be a cause of concern among the Magnificent 7, as these influential tech giants boast resilience, and they are leading the market innovation and growth with strong capitals. It could be a transient passing cloud, and Mark Zuckerberg might just wave his magic wand to bring us surprises, haha!
HuatEver : Despite the strong fundamentals and historical success of many tech stocks, $Tesla (TSLA.US)$ recent disappointing earnings report could potentially open Pandora’s Box
for the Magnificent 7 stocks. Caution is advisable in the interim, requiring close market monitoring. However, there remains a glimmer of optimism, as $NVIDIA (NVDA.US)$ may potentially defy conventional expectations and contribute a positive twist to the overall market sentiment. 
ZnWC : First I don't agree that Tesla earnings are disappointing. Tesla stock faced a price correction after earnings reflects the market is worried about the shrinking EV demand and Fed interest rate remains high. Data shows that Tesla is in a better position than the other EV companies - there's no debt, Free Cash Flow or FCF is at record high, net income is positive etc.
Second another tech giant, Intel share price fell almost 12% despite a better than expected Q4 2023 earnings. Tesla and Intel share prices rose 134% and 86% respectively YTD in 2023 despite a lower than expected earnings in last year's Q4 2022 earnings. It goes to show that if the company's fundamentals remain strong, the share will rebound when sentiment becomes positive.
I think the other members of Mag 7 company's fundamentals remain strong hence their earnings will be positive. But no one is certain if their share price will fall or 'fail to live up to expectations' when their earnings are released.
小trader : The upcoming Big Tech Earnings will be closely scrutinized to determine if these tech giants justify their valuations and if they can surge higher amid an anticipated rate cut cycle. With robust balance sheets, strong cash flows, and effective leadership, the other members of the Magnificent Seven are poised to maintain their market leadership in 2024. These six companies (Other than Tesla), with their established business moats, are expected to deliver more stable earnings than Tesla. However, the unpredictability of market expectations adds an element of uncertainty. In the event that the Magnificent Seven fall short of expectations, particularly after Tesla's disappointing results, significant downward selling pressure may ensue, prompting fund managers to capitalize on profit-taking opportunities.