BREAKING: Meta stock, $META, has now erased $240 BILLION of market cap after reporting earnings, down as much as 19%.
If $META closes at current levels tomorrow, it will mark the BIGGEST EVER 1-day loss of market cap by a stock. The previous record is also held by $META when the stock shed $232 billion on February 3rd, 2022. Source: The Kobeissi Letter
Life is too short to spend a third of it doing something that makes you unhappy.
Find joy in what you do, and work won’t feel like work anymore. Source: Corporate Rebels
Amazing, isn’t it? No wonder Ferrari stock has been going parabolic since IPO
Source: Michel A.Arouet
Microsoft's EPS growth since its 1986 IPO
Visualized by Quartr x Acquired
BREAKING: Tesla stock, $TSLA, surges over 8% after releasing Q1 2024 earnings results despite missing by nearly $1B on the top line and missing on EPS
Tesla Q1 revenues fell 8.7% over the last year, the biggest decline since 2012. Net Income fell 55% YoY to $1.1 billion. Gross margins moved down to 17.4% in Q1 from 19.3% a year ago and 29.1% two years ago The company said in the deck that it’s accelerating the launch of “new vehicles, including more affordable models,” that will “be able to be produced on the same manufacturing lines” as Tesla’s current lineup. Tesla is aiming to “fully utilize” its current production capacity and to achieve “more than 50% growth over 2023 production” before investing in new manufacturing lines. NB: The company also revealed that NONE of their Bitcoin was sold despite recent speculation. Source: The Kobeissi Letter, CNBC
$TSLA Tesla Q1 FY24:
• Deliveries -9% Y/Y to 386K. • Revenue -9% Y/Y to $21.3B ($1.0B miss). *Automotive -13% *Energy Gen. & Storage +7% • Gross margin 17% (-2pp Y/Y). • Operating margin 5% (-6pp Y/Y). • Capex +34% Y/Y to $2.8B. • Free cash flow (outflow) ($2.5B). • Non-GAAP EPS $0.45 ($0.05 miss) and -53% yoy Source: App Economy Insights
TESLA DOUBLED ITS AI COMPUTE OVER THE LAST 3 MONTHS
TESLA SPENT 1 BILLION DOLLARS ON AI INFRASTRUCTURE OVER THE LAST 3 MONTHS $TSLA Source: Gurgavin
The annual interest expense on US debt is literally moving in a straight line higher, now at $1.1 TRILLION.
To put this in perspective, less than 3 years ago the annual interest expense on this debt was $450 billion. That's a 144% jump as total US debt has surged by over $11 TRILLION since 2020. Even in 2008, at the peak of the Financial Crisis, annual interest expense was just $450 billion. As interest rates surge and debt levels hit record highs, the US paying the prices for decades of deficit spending. Money is not "free" anymore... Source: BofA, The Kobeissi Letter
