Incredible: Amazon's AWS revenue over the last 12 months ($83 billion) was higher than the revenue of 460 companies in the S&P 500
From $3 billion to $83 billion in less than 10 years (>40% annualized growth). Source: Charlie Bilello
Apple ($AAPL) is in a league of its own
With a market cap of $2.6 Trillion, Apple is $500 Billion bigger than Microsoft. It's bigger than the GDP of - South Korea, Canada, Russia, Brazil and Italy. $AAPL is up +305% over the last 5 years. Source: Oktay Kavrak, Leveraged Shares
Tesla net income and earnings drop more than 20% from last year
Tesla’s Q1 2023 revenues and profits came in very close to expectations, based on a survey of analysts from Refinitiv. Tesla specified in a shareholder deck that “underutilization of new factories” stressed margins, along with higher raw material, commodity, logistics and warranty costs, and lower revenue from environmental credits, all contributing to the drop in earnings from last year. Shares in electric vehicle maker Tesla dropped more than 4% after the company reported first-quarter earnings after the bell. Here are the results. $TSLA Tesla Q1 FY23: • Revenue +24% Y/Y to $23.3B ($60M miss). • Gross margin 19% (-10pp Y/Y). • Operating margin 11% (-8pp Y/Y). • Capex +17% Y/Y to $2.1B. • Free cash flow -80% Y/Y to $0.4B. • Non-GAAP EPS $0.85 (in-line). • Deliveries +36% Y/Y to 422,875. Source: App Economy Insights, CNBC
Concentration Alert! A handful of tech stocks are responsible for a large portion of stock market returns lately
Mega-cap tech stocks like Apple, Microsoft, Amazon, and Alphabet are driving the rally, so far in 2023. Source: Genuine Impact
Short squeze 2.0?
Hedge Funds are still massively short. This could lead to another massive short squeeze. Source chart: Alessio Urban, Goldman Sachs
The S&P500 has been failing regularly up here since last summer
Source: J-C Parets, All Star Charts
One of the best bank deals of our time?
First Citizens's shares jumped 54% after NCarolina lender took over SVB's $56.5bn in deposits as well as $72bn in loans at discount of $16.5bn. FDIC will help finance deal w/$35bn loan & $70bn credit line to help cover pot depo flight. Source: DJ, HolgerZ, Bloomberg
Why you need to invest, in one chart...
Source: Charlie Bilello
