Wow, what a week for earnings.
Check these out:
On Tuesday, July 28th, Advanced Micro Devices, Inc. (AMD) released their 2020 Q2 earnings. The company’s revenue was $1.93 billion, up 26% year-over-year. This was primarily due to higher revenue in their computing and graphics segment. AMD has become a fierce contender in the CPU market, especially following Intel’s recent announcement that its 7-nm chip would be delayed until at least late 2022.
Also on Tuesday, July 28th, Visa, Inc. (V) released its 2020 Q3 earnings. The company posted revenues of $4.84 billion, a 17% decline year-over-year.
While Visa did see "steady improvement" in in-person spending during the June quarter, that recovery stalled moving into July due to a spike in COVID-19 cases. However, the company didn’t cut its dividend, looking towards a stronger Q4.
The prettiest girl in the room this week was Apple Inc. (AAPL).
Here’s why:
On Thursday, July 30th, the company released its 2020 Q2 earnings, which set a June quarter record with revenue of $59.7 billion, up 11% from a year ago.
This increase came mostly from iPad and iMac sales, which rose 22% and 31% respectively as more people have shifted to working from home due to Covid-19. Services revenues were also up 15% to $13.2 billion.
Moreover, Apple announced a 4-for-1 stock split. What does this mean? It means if you are a current AAPL share holder, you are about to get richer.
Even though we are in a challenging period, I respectably request that you stay open and stay positive.
There is a lot to look forward to, post Covid-19.
Tyrone Jackson, The Wealthy Investor
