Tesla Pushes US Market To Rally On Today? Nah!
Of the 4 mega cap companies that reported their quarterly earnings, none was really outstanding:
$Goldman Sachs(GS)$. Missed on all accounts..
$Netflix(NFLX)$. Missed expectations & Wall street ignored its achievements.
$ASML Holding NV(ASML)$. Exceeded forecasts but CEO warned of macroeconomic uncertainties.
$Tesla Motors(TSLA)$. Mixed results if you asked me.
Despite the mixed results, market was hell-bent to rally for another day.
DJIA: +0.31% (+109.28 to 35,061.21). Its 8th consecutive rally day.
S&P 500: +0.24% (+10.74 to 4,565.72).
Nasdaq: +0.03% (+4.38 to 14,358.02).
Tesla reported its Q2 2023 earnings after market close; followed up with a press conference.
As mentioned in my previous posts, its earnings more than meet forecast:
Revenue: $24.93 Billion vs $24.47 Billion expected, according to Refinitiv.
Earnings: 91 cents per share adjusted, vs 82 cents per share expected, as per Refinitiv.
Net income (GAAP) was $2.70 Billion, an increase of +20% YoY.
Operating income: came in at $2.4 Billion, off by -3% YoY.
If you scratched the surface, all will be revealed:
Tesla delivered 466,000 EVs, a whooping +82.96% gain YoY.
Q2 2023 revenue over Q2 2022 revenue is +47.25% gain YoY.
Looking at the 2 data fields reveals the extent of damages as a result of Tesla’s cut throat discounts.
This made Wall Street nervous and post market trading saw Tesla’s stock price decline by -4%.
What makes it worse is “discount is still on-going”. Mr musk has just confirmed that during the press conference; much to Wall Street’s chagrin (see below).
The first negative reaction has arrived (see above).
It is from Mr Craig Irwin, Roth Capital Partners
He is known to be a “Tesla bear”.
Question now is “will there be more negative press to follow”, snowballing and become a self-fulfilling prophecy?
Do you think Tesla stock price will free fall today?
Do you think US market will continue to rally or fall as well?
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部分市場會上漲跟下跌 不會完全都有一樣的現象發生 [暗中观察] [暗中观察] [暗中观察] [暗中观察]
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