Hello traders
I hope you had a good week!
It has been a busy week with earnings coming thick and fast from the likes of Facebook, Alphabet (GOOG), Microsoft, Apple and Amazon. Facebook disappointed the market with a slight revenue miss being compounded by Mark Zuckerberg’s dogmatic pursuit of the metaverse, which prompted the company to change its name and may come at cost of up to $34 billion per year in cap-ex over the next few years.
Whilst the metaverse is being touted as “the new internet” revolution, shareholders would rather see investment directed towards its existing businesses and perhaps developing a long-awaited mobile device to win share from Google. Zuck is no doubt a visionary with a winning track record of strategic acquisitions and development, but many believe that this is a step too far and may well end up as a binary outcome (“YOLO”) for the business.
In other news, Google and Microsoft both produced more astonishingly good results, with the former seeing YouTube bringing in as much in revenue as Netflix (and growing twice as fast!). But there were more mixed fortunes in the FANG’s as Apple and Amazon both reported cost pressures and supply chain disruption as a result of the global semiconductor chip shortage. Amazon in particular felt the pain of this, with the outlook for its multi-billion dollar retail business being guided lower by management.
For all the back-and-forth of earnings, you would be mistaken for assuming that there was very little time for anything else this week. But with October coming towards an end, we have of course updated our Monthly Checklist Report for the new month which Trading Club members have immediate access to, and includes a new set of scores for many of our Checklists.
Here’s a quick preview of one of the Checklists that has caught my eye this month. Whilst I cannot reveal the scores to you here just yet, I look forward to doing so in the next couple of weeks.
If you would like to learn more about our methods, and join me for more analysis in real-time, head to milliondollartraders.com and check out MDT course and Trading Club pages where you can preview everything that we cover.
In the meantime, why not head over to our YouTube Channel for our latest FREE videos! As there’s no charge for this content, it would be great if you could support the channel by leaving a comment and subscribing.
Have a great weekend,
James
Disclaimer: For educational purposes only. Even though we do our best to provide reliable data, you should not trade based on this information.
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