Alphabet and Tesla reported negative free cash flow and higher capital expenditures due to significant AI investments, despite better-than-expected revenue. This led to an after-market selloff for both companies, signaling potential scrutiny for other tech megacaps reporting soon.
Tesla reported Q2 earnings with profits of 31 cents per share, below Wall Street's 51-cent prediction, causing its stock to dip. Despite exceeding revenue expectations and auto sales, the company faces competition and subsidy ends, pivoting focus to AI, robotics, and autonomous driving projects like Optimus and Robotaxi.
Tesla reported weaker-than-expected Q2 earnings per share despite revenue topping estimates, causing its stock to slide. The company faces rising operating costs due to AI and R&D investments, a strategic shift towards Robotaxi and Optimus robots, and increased competition from Chinese EV makers.
SpaceX stock rose 3% after announcing its maiden earnings report for Aug. 4, coinciding with a major share lock-up expiration on Aug. 6. This allows insiders to sell 20% of eligible shares, totaling up to 911.5 million. The stock had previously shed nearly half its value, attracting short sellers.
SpaceX stock gained 3% after announcing its debut earnings report for Aug. 4, coinciding with a major share lock-up expiration allowing insiders to sell up to 20% of shares. The stock had recently shed nearly half its value, attracting short sellers, while the company also faces Starship launch delays and expands into AI and cloud computing.
Bitcoin maintains key support levels, with some traders predicting short-term gains up to $67,000, despite retreating spot demand. Geopolitical tensions, particularly escalating US-Iran rhetoric, are driving oil prices higher, while major corporate earnings reports from Tesla, Alphabet, and Intel are set to influence risk assets.
Tesla faces increasing challenges despite strong Q2 delivery figures, with fundamental headwinds, competitive pressure, and high valuation expectations suggesting downside risks ahead of its second-quarter earnings report on Wednesday. The stock retreated after delivery figures beat consensus.
TSMC announced June revenue surged 67.9% year-on-year to NT$398.27 billion, pushing first-half revenue to NT$2.4 trillion. Q2 revenue of NT$1.27 trillion surpassed analyst forecasts, driven by robust AI demand and global manufacturing expansion.
Fast Retailing, parent of Uniqlo, saw same-store sales rise in May due to enhanced marketing and strong demand for summer products. The company reported significant revenue and profit growth for the nine-month period ending May, with Greater China being its second-largest market.
South Korea's benchmark KOSPI index plunged over 7% on Tuesday, erasing recent gains driven by AI optimism. Investors rushed to lock in profits after Samsung Electronics announced strong quarterly earnings, triggering a broad sell-off in tech stocks. The market experienced trading suspensions and significant drops in major companies like Samsung Electronics and SK Hynix.
Seoul shares opened higher on Monday, driven by gains in technology companies like Samsung Electronics and SK Hynix, as investors anticipate second-quarter earnings reports for signs of AI-driven profit.
The first full week of July offers a light schedule of earnings and economic reports, with Levi Strauss, PepsiCo, and Delta Air Lines among the few major companies reporting. Key economic data includes services sector PMIs and existing home sales, while the AI trade faces scrutiny after recent sell-offs.
Wall Street enters a holiday-shortened week with a focus on the health of the labor market, Nike's crucial Q4 earnings report, and the impact of Middle East violence on oil prices, despite a 60-day ceasefire agreement between the U.S. and Iran.
Cerebras Systems' shares fell nearly 20% despite exceeding Q1 earnings expectations, as the AI chipmaker forecast a narrower full-year gross margin of 38-41%. CEO Andrew Feldman attributed this to temporary equipment rental from a customer to boost capacity.
Micron reported record 84.9% gross margins in fiscal Q3, driven by soaring AI memory demand, surpassing other major U.S. tech firms. This unprecedented profitability is leading to long-term customer agreements and increased costs for device makers like Apple.
Oracle's strong AI contract growth and infrastructure commentary signal robust demand for AI computing, benefiting chipmakers and infrastructure providers despite the company's fundraising plans and ongoing capital expenditure debates.
Larry Ellison's net worth plummeted by over $47 billion in less than a week due to a significant drop in Oracle shares, falling from $296 billion to $249.7 billion and pushing him from second to fifth richest globally.
Palo Alto Networks shares fell over 4% after strong quarterly results, as investors focused on the company's long-term outlook and a rapid stock price increase. CEO Nikesh Arora reiterated 2030 NGS ARR guidance, signaling robust but not windfall growth, disappointing short-term traders.
PlayStation faces a competitive landscape with declining first-party game sales. Sony announces new titles like Marvel's Wolverine and Silent Hill: Townfall, while rivals Nintendo and Xbox gain ground in publishing and exclusive content.
Options traders anticipate a significant move in Salesforce's stock after earnings report, with bullish sentiment in IGV ETF and unusually high implied volatility pricing in a 7.8% swing.
Bitcoin's price surge nears $78,000 before US market open, then declines amid bearish macroeconomic sentiment and anticipation of Nvidia's Q1 earnings, with Coinbase Premium Index showing soft US demand.
This week's focus is on Nvidia's Q1 earnings, with expectations for a 'beat and raise.' Investors will also watch Home Depot and TJX Companies' earnings reports, and Google's developer conference for AI updates.
Nvidia's upcoming earnings report is anticipated to showcase robust growth fueled by AI demand. However, investors' sky-high expectations, as seen with Palantir's recent stock dip despite strong results, signal potential market jitters. While Nvidia leads the AI chip race, rising competition and the long road to AI profitability pose challenges.
Strategy, the world's largest public Bitcoin holder, announced a pause in crypto purchases ahead of its Q1 earnings report. Executive Chairman Michael Saylor said 'No buys this week' on X. The company holds 818,334 BTC acquired at an average price of $77,906. Wall Street expects a loss of $18.98 per share due to mark-to-market Bitcoin accounting, compared to a loss of $16.49 year-earlier. Concerns persist over the company's STRC perpetual preferred security with its 11.5% dividend yield, with Peter Schiff again calling it a 'Ponzi scheme.'
