When Apple and Amazon.com report quarterly results on Thursday, investors hope to hear more about the fallout from a slowdown in consumer spending, waning demand for electronics ahead of the release of Apple’s iPhone 15 and virtual-reality headsets, and details about Amazon’s Prime Day sales, Janet H. Cho reported for Barron’s Daily.
Photo Insert: Apple, which has avoided layoffs, is expected to share details about China’s recovery and growth in India.
Apple, which has avoided layoffs, is expected to share details about China’s recovery and growth in India, after opening stores in Mumbai and New Delhi. D.A. Davidson analyst Tom Forte also sees some challenges for Apple to achieve mass adoption of its Vision Pro VR headset, which will soon be available for $3,499.
Forte is watching for the impact from Amazon’s cost-cutting moves, including thousands of layoffs and a pullback in expanding Amazon Fresh grocery delivery, amid slower growth in its cloud business, MarketWatch reported.
Wedbush analyst Dan Ives said so far, tech earnings have been a flex-the-muscles moment for stock bulls.
Fundamental growth stories are setting up for the second half of this year and into 2024, he said in a recent note, with the revolution in artificial intelligence just starting to kick in.