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Earnings reports from big tech leaders like NvidiaNASDAQ:NVDASales force (year)NYSE:CRM) and del (NYSE:DELL) continues to attract investors’ attention this week, and recent developments between Elon Musk and Twitter (NYSE:TWTR) showed that he had a lot of drama before reaching any conclusions.
Amidst endless tech earnings, NVDA found the road tough as it reported strong second-quarter results but gave a third-quarter outlook that showed weakness ahead in its gaming and PC businesses.
However, despite some analysts’ views, it did not bode well for Nvidia (NVDA). For example, CT resident Atif Malik said NVDA’s gaming business should start to pick up in early 2023 due to the company’s launch of new products later this year.
Salesforce ( CRM ) joins the ranks of companies whose earnings are heavily impacted by US dollar and foreign exchange rates. The cloud-based business software giant adjusted its full-year revenue forecast, and reported second-quarter sales that fell short of Wall Street analysts’ estimates.
Salesforce’s ( CRM ) outlook was enough to make some analysts believe a broader slowdown in the software industry could be on the way.
Dell ( Dell ) also did little to boost investor enthusiasm when the computing giant reported second-quarter sales that missed Wall Street estimates and forecast a third-quarter drop in revenue and earnings from the same period a year ago. . Dell’s ( Dell ) outlook led investors to sell shares of PC companies over the weekend.
Zoom Video Communications (ZM), often cited as one of the stars of the Covid-19 pandemic, cut its fiscal year sales forecast following a second-quarter business report.
The move between Twitter and Musk’s legal case heated up over the weekend as Musk questioned former Twitter ( TWTR ) CEO Jack Dorsey and the former Twitter ( TWTR ) security chief became federal prosecutors in the case.
Meanwhile, the judge overseeing the upcoming trial ordered Twitter ( TWTR ) to grant Musk limited discovery related to 9,000 user accounts, but said Musk’s overall data needs were “too broad.”
And by the end of the week, Musk was said to be seeking a delay in the hearing to get more time on the case.
The excitement and anticipation for what Apple ( AAPL ) has planned for the next version of the iPhone has begun. 7. And the US Department of Justice is reportedly preparing an antitrust complaint against Apple ( AAPL ) that could be filed as early as 2023.
AMC Entertainment Holdings ( AMC ) got shaky earlier in the week, and continued to act like a meme stock as its new stock began trading under the ticker symbol APE ( APE ). APE (APE) shares have been affected by some confusion in the AMC (AMC) stock price.
And speaking of movies… MoviePass, the one-time subscription service that lets people see an unlimited number of movies in a month, is set to make a comeback on Labor Day.
