Fast Money Blog- 10/30/20

This week brought big surprises as it relates to earnings for some of Wall Street’s biggest names.

Both Microsoft Corporation (MSFT) and Advanced Micro Devices, Inc. (AMD) posted their earnings on Tuesday, Oct. 27th

Good News:

MSFT reported a 12% increase on quarterly revenue year over year of $37.2 billion.

Their fastest growing segment was the Commercial Cloud collection of products, with a $15.2 billion in revenue up 31% compared with the same quarter last year.

More Good News:

AMD announced record revenue for the third quarter of 2020 of $2.8 billion, up 56 percent year-over-year. This was driven by strong demand for PC, gaming, and data center products.

AMD also announced they have agreed to buy international semi-conductor manufacturer Xilinx for $35 billion. Because of the $35 billion cash expenditure, the stock dropped. This is normal.

Finally, Apple, Inc. (AAPL) reported Q4 Earnings on Thursday, Oct. 29th.

The company reported revenue of $64.7 billion, up 1% year-over-year. Apple also reported all-time highs in the Services and Mac divisions.

Here’s what Wall Street didn’t like: iPhone revenue was down over 20% from the same quarter last year. This is why Wall Street sold off the stock today, Friday, October 30th.

All three of these major tech players will see their stock rise significantly over the next six months. If you’re a Wealthy Investor your job is to stay the course by selling covered cals and/or collecting dividends dispersed by these major technological giants.

Tyrone Jackson

The Wealthy Investor