Wall Street analysts react to Amazon’s disappointing second-quarter earnings
Amazon reported another massive quarter on Thursday, but it wasn’t enough to meet sky-high expectations, leading Wall Street analysts to scale back their estimates.The tech giant reported $15.12 in earnings per share and $113.08 billion in revenue for its second quarter. That topped expectations of $12.30 in earnings but missed the projected $115.2 billion in revenue, according to analysts surveyed by Refinitiv.Following the report, Morgan Stanley’s Brian Nowak cut his price target for the stock
Apple profit nearly doubles as iPhone sales boom, but company projects growth slowdown
Supply constraints and foreign exchange expected to drive lower growth rate in September quarter. Apple Inc. just posted its strongest June quarter ever, with a near doubling of profits and a huge revenue beat for its iPhone business, though shares slipped in the extended session after the company projected slower growth for the current period.Apple's $$ revenue for the quarter rose to $81.43 billion from $59.69 billion, while analysts had been anticipating $73.34 billion. The biggest positive s