Wednesday’s Headlines: Apple Outperforms The Global Smartphone Market

Wednesday’s Headlines: Apple Outperforms The Global Smartphone Market

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Baozun (BZUN) +5.4%

Starbucks (SBUX) +5.1%

Wix (WIX) +4.9%

Shopify (SHOP) +3.8%

Pinterest (PINS) +3.6%

Moving Down ⬇️

Hain Celestial (HAIN) -8.1%

Tiffany & Co. (TIF) -4.0%

Etsy (ETSY) -2.5%

GoPro (GPRO) -2.3%

Boston Beer Co. (SAM) -1.8%

1. Despite the global smartphone market plummeting 20.4% in Q2, Apple (AAPL) has managed to keep iPhone sales relatively flat according to a new report from Gartner. iPhone purchases declined just 0.4% year-over-year compared to chief rival, Samsung, which saw sales fall an eye-watering 27.1% in the same period. It is believed that Apple was helped chiefly by its improved business environment in China and the introduction of the cheaper iPhone SE, which encouraged older smartphone users to upgrade. Read the complete report here

2. Shares in Starbucks (SBUX) rose more than 5% on Tuesday after the coffee chain’s stock was upgraded to buy from hold by analysts based on sales potential. However, we all know that’s not the real reason! It actually rose because yesterday Starbucks began selling Pumpkin Spice Lattes across the U.S. and Canada, making it the drink's earliest release ever. The not-so-humble PSL has been a bestseller on the Starbucks menu for almost two decades, with more than 400 million sold since its 2003 inception. I’d still rather drink muddy puddle water though… Read the full story here.

3. For every Walmart (WMT) posting record revenue, there is a Nordstrom (JWN) reporting bigger-than-expected losses as COVID-19 ravages brick-and-mortar sales. Shares are down almost 6% after-hours following its reveal of a net loss of $255 million, or $1.62 per share, with total revenue falling 53% and online sales down 5%. If, like me, you’re sick of those scary numbers, here’s an optimistic quote from President Pete Nordstrom: “We’re confident that we can improve sales trends in the second half of the year and beyond.” Get the official press release here.

Earnings today

There are three companies in the MyWallSt shortlist that will report earnings today:

Autodesk (ADSK)

Shares in the design software company are relatively flat after-hours despite posting revenues of $913 million, up 15% from a year ago, and EPS of $0.98, beating estimates. For the January 2021 fiscal year, Autodesk sees revenue of $3.715 billion to $3.765 billion. Read more here.

Intuit (INTU)

The software company reported a beat on top-line numbers for their 4th quarter earnings, with net revenue of $1.82 billion versus estimates of $1.55 billion and EPS of $1.81. Shares are up as much as 6% after-hours, though Intuit offered no guidance for the current quarter. Read more here.

JamieJamie

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