AAPL Beats Estimates But iPhone Sales Decline AAPL reported Q1 2018 EPS of $3.89 which beat estimates for $3.86. Revenues were $88.3 billion which beat estimates for $87.28 billion. The chart below shows the changes to 2018 full year earnings estimates as a result of the quarter. The low estimate ca
Facebook’s Earnings Beat, But The Firm Shows Cracks After the bell on Wednesday, two of the most important firms in the market reported earnings. I’ll review both in this post. First, let’s look at Facebook. The overall numbers were good, but I see cracks in the business which might be reflected in
AAPL Earnings After The Bell On Thursday Apple stock is down 6.7% since January 18th because investors are worried about iPhone X sales. The worries stem from the report that the company cut its supplier orders. Initially it was reported that Apple cut iPhone X orders by 20 million which was half th
Italian Election Update The general election in Italy is now about a month away as it will be held on March 4th. The chart below shows the latest trends in the polling. As you can see, the left leaning establishment People’s Democratic party has been cratering in the polls. This shows the high level
McDonald’s Reports Great Results With the weakness from the Starbucks earnings report, investors were uncertain whether Starbucks did poorly because of execution issues or because of macroeconomic issues. The company blamed changes in the consumers’ tastes for the miss. The holiday drinks didn’t sel
Consumers Were Confident About Stocks It’s interesting to see the amazing Conference Board consumer confidence survey after the recent two day selloff in stocks. The survey’s cutoff date was January 18th which means it doesn’t include the latest selloff. This recent report was historically optimisti
Do Yields Matter Now? The stock market fell modestly on Monday as the S P 500 was down 0.67%. Because the market has had such a spectacular year, this is the worst day so far. The 99 day streak without a 0.6% decline, which was the longest streak ever, ended. Some are blaming the increase in
Q4 Earnings Look Great So Far Last week the FactSet aggregate S P 500 calculations were severely altered by Citigroup’s one time loss related to the tax cut. This week FactSet changed the numbers as they calculated Citigroup’s earnings to be $1.28 instead of -$7.15. This excludes the one time write
The Other Model Indicators Let's take a look at the indicators in the macro model to see whether the stock market is overvalued and if the economy is late in the cycle. In my opinion, many of the indicators are distorted making this model a talking point rather than actionable advice. I skipped the
Extremely Extended Bull Market According to the RSI, the Dow was the most bullish since 1904 three days ago and it has been up since then! With records being topped, it’s interesting to see a comprehensive look at a bunch of indicators. The macro model below does just that as it shows the periods si
