The Busiest Week In The Stock Market of 2022!

Earnings last week

Following on from Wednesday's macroeconomic news, $AMZN reported earnings in Q2 which beat Wall Street estimates, with the stock jumping on the news by 12%. In addition to this Amazon expects its third quarter sales to range from $125bn to $130bn.

$APPL also released better than expected sales and profits in its latest quarter, with shares up nearly 3% pre-market on Friday. The tech company also stated that iPhone sales reached $40.7bn in the quarter, up 3% from last year, despite this years supply chain issues. $APPL remains to be a top buy in this economic climate, as it's $60 billion in net cash enables it to be one of the stable companies in times of such uncertainty.

Chinese e-commerce giant $BABA (Alibaba) is among a list of Chinese companies vulnerable to facing delisting according to the US Securities and Exchange Commission, leading to the shares falling over 9% during Friday trading hours. Alibaba is now among over 270 Chinese companies at risk of delisiting, making investors raise questions over whether the beaten and volatile stock can still be considered a long-term value stock due to the political tensions between the USA and China. The company has since said in its Monday morning filling that they will "strive to maintain its listing status", with shares up 2% in pre-market trading.

Meta Platforms ($META) shares dropped over 8% last thursday following their earnings report, which revealed the company's first year-over-year revenue decline as a public company, alongside offering a weak outlook for future quarters. JP Morgan analyst Doug Anmuth reduced his target price for $META to $200 a share from $225 due to Apple iOS privacy changes, TikTok competition and foreign currency exchange rates. However not all was negative as Reels ($META's alternative to TikTok) is now on course to generate over $1billion in annual revenue.