APPLE $AAPL IS DOWN NEARLY 8% AFTER HOURS DESPITE BEATING ON REVENUE AND EPS
The quarter itself was strong: • Revenue: $109.42B, beating expectations of $108.65B • EPS: $2.02, beating expectations of $1.89 • iPhone revenue: +22% Y/Y, its best growth in years The guidance may be what sold off: • September quarter revenue guided to 9%-11% growth, a slowdown from Q3's 16% • Gross margin guided down to 47%-48% from the 50.1% just reported • Services missed expectations, and Greater China came in below estimates Apple came into the print at 35x forward earnings, well above its 5-year average of 28, and up 22% YTD. At that valuation, a beat wasn't enough. Source: WOLF
$AMZN Q2 earnings blew past Wall Street's expectations with strong AWS revenue. Stock is up nearly +10% after-hours
Source: Yahoo Finance
Earnings are out: $MSFT +8pct after-hours, $META -8pct after-hours
Microsoft beat on the top line and saw a gain from its Anthropic stake. The software company’s Azure cloud business now exceeds $100 billion. Customers other than large model builders helped to expand Microsoft’s backlog. Meta shares dropped after the company reported second-quarter earnings that missed on earnings per share. The company’s revenue forecast also came in light. Meta narrowed its guidance for capital expenditures, keeping the top end of the range. Source: Stocktwits
SK Hynix posted record Q2 earnings but still missed expectations.
- Revenue: ₩79.3T vs ₩80.9T (+257% YoY) - Operating profit: ₩60.5T vs ₩64.0T (+557% YoY) - Net profit: ₩93.9T (+1,242% YoY) Record revenue was driven by strong AI memory demand and higher DRAM and NAND prices. A large portion of net profit came from ₩63.3 trillion in investment-related gains, including gains on investment assets, rather than from its core semiconductor business. SK Hynix crashed -10% after the results and is now down -53% from its all-time high. Source: Bull Theory
Intel reported better-than-expected second-quarter results on Thursday
Notching its fastest revenue growth rate for any quarter since 2011 and issuing guidance that topped expectations. The stock rose about 4% in extended trading. Intel shares are up over 170% so far in 2026 as of Thursday’s close after soaring 84% last year, when the U.S. government took a 10% stake in the company as part of an effort to support U.S. chip manufacturing. However, the stock has been in a slump more recently, dropping 28% in July. $INTC Intel Q2 FY26: • Revenue +25% Y/Y to $16.1B ($1.7B beat). • Non-GAAP EPS $0.42 ($0.20 beat). Q3 FY26 Guidance: • Revenue ~$15.8-16.8B ($1.2B beat). • Non-GAAP EPS $0.38 ($0.10 beat). Source: App Economy Insights, CNBC
Alphabet beat Q2 revenue expectations, but missed on underlying earnings.
Revenue rose 24% to $119.8 billion, led by an 82% increase in Google Cloud revenue to $24.8 billion. Cloud operating margin reached 36%. Reported net income was boosted by roughly $99 billion in unrealised gains on investments including Anthropic and SpaceX. Excluding these gains, adjusted EPS was $2.85 versus $2.90 expected. The stock fell 3% after hours. Source: App Economy Insights @EconomyApp Bull Theory Yahoo Finance
Tesla $TSLA is getting pounded after-hours after missing badly on earnings
Adjusted EPS came in at 33 cents, well below the 51 cent estimate. Gross margin fell to 16.8%, versus 19.4% expected. Tesla sold more cars than ever this quarter, but had to cut prices and lean on incentives to do it. More volume, less profit per car. $TSLA Tesla Q2 FY26: • Revenue +26% Y/Y to $28.2B ($1.8B beat) • Gross margin 17% (flat Y/Y) • Operating margin 1% (-3pp Y/Y) • CapEx +142% Y/Y to $5.8B • Free cash flow flips negative -$1.1B • Non-GAAP EPS $0.33 (versus $0.51 expected = MISS) Source: App Economy Insights Barc chart
$TSM Q2 EARNINGS DOUBLE BEAT
EPS: $4.31 vs $3.77 est REV: $40.20B vs $39.76B est Gross Margin: 67.7% Operating Margin: 60.3% Net Profit Margin: 55.6% Source: Trend Spider
