on the top and bottom lines while Amazon missed revenue expectations but beat profit expectations. Both reports give insight into the state of the consumer domestically and abroad which is still under pressure from inflation. Maxim Group Managing Director and Senior Consumer Internet Analyst Tom Forte joined to discuss Apple's earnings and give insight into its performance in China., reporting revenue that more than doubled from a year ago.
And how do we, you know, it's almost like the, the J Powell game, like, how do we read between the lines of what they say? Hey, some new A IA I features too and, and the optimist to take is there's just so many people who are looking at this point, they're sitting there with a phone that's 234 years old.And, and they're encouraged to, encouraged to upgrade and they're gonna have all the reason they need to, to upgrade.So, here's, I guess why I have a hold in the stock because you're looking at a pe north of 30 times uh versus the big tech peers and more like 27.5.
Um And you mentioned China, uh of course, even though uh Luca Maister did tell Josh that things in China are trending better.I think China is still something we need to monitor closely. So this is the amount of Americans that are applying for unemployment benefits in a given week that ticked up more than expected.
Yes, we do have one more thing, Julie and I cheated and I use the earnings that we've been talking about all afternoon because I wanna steal one of your points that you make.So we've had just a divergence in big tech earnings over the past week and a half now.Well, some companies that have been received a little worse.
It's just interesting how, you know, there was the big A I trend and theme hype and now maybe, you know, seeing some, some possible evidence that that investors are becoming more discerning. You could argue it probably moves more on crypto than on the results themselves, perhaps in block shares up about 4.4%.
And I'm just curious, Mark where you see it headed in, in the near to just kind of intermediate term.Uh And of course, you know, we have a buy on micro strategy which reported today after the close um the uh underlying uh dynamic here is really one in which um the Bitcoin having, which occurred in April.Uh Typically speaking, uh after a having and there have been four of them.Uh There's a, a significant rally over the next year and a half or so.
I think it's been showing up uh at least on the margins and I think it's also a relative thing because the past few years we've seen uh the US government and the SEC in particular, you know, really cracking down on the space uh including, you know, what was known as operation show 0.2 0.0 where uh it it was very difficult for any company involved in crypto uh to get access to the traditional banking system.
Guidance for the third quarter came in line with the street's estimates shares of Twilio higher after beating across the top and bottom line in the second quarter. Uh Apple's uh ca call going on very soon here in which in which of course, investors will be focus on what guidance, Tim Cook and Luke and Master have to offer.What are the um you know inputs to that?And of course, all of this could be moved in terms of the stock action when we get the jobs report tomorrow morning at 830 that's gonna sort of sweep the macro narrative away.
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