APPLE BEATS ESTIMATES ON IPHONE, MAC STRENGTH
Results
EPS: $2.02 ($1.91 ex-tariff refunds) vs. $1.89 est. ✅
Revenue: $109.42B vs. $108.65B est. ✅
Gross Margin: 50.1% (48.1% ex-tariff refunds) vs. 47.9% est. ✅
iPhone Revenue: $54.25B vs. $53.86B est. ✅
Mac Revenue: $10.35B vs. $8.74B est. ✅
iPad Revenue: $6.19B vs. $6.92B est. ❌
Services Revenue: $30.74B vs. $31.22B est. ❌
Wearables Revenue: $7.88B vs. $7.82B est. ✅
Greater China Revenue: $18.82B, +22.4% YoY.
Key Takeaways
CEO: Advanced chipmaking bottlenecks remain the primary supply constraint.
Shares: Fell ~4% in extended trading.
(@WalterBloomberg)
Results
EPS: $2.02 ($1.91 ex-tariff refunds) vs. $1.89 est. ✅
Revenue: $109.42B vs. $108.65B est. ✅
Gross Margin: 50.1% (48.1% ex-tariff refunds) vs. 47.9% est. ✅
iPhone Revenue: $54.25B vs. $53.86B est. ✅
Mac Revenue: $10.35B vs. $8.74B est. ✅
iPad Revenue: $6.19B vs. $6.92B est. ❌
Services Revenue: $30.74B vs. $31.22B est. ❌
Wearables Revenue: $7.88B vs. $7.82B est. ✅
Greater China Revenue: $18.82B, +22.4% YoY.
Key Takeaways
CEO: Advanced chipmaking bottlenecks remain the primary supply constraint.
Shares: Fell ~4% in extended trading.
(@WalterBloomberg)
👍9
$AMZN - GOLDMAN RAISES AMAZON PT TO $375
Goldman Sachs raised its Amazon price target to $375 from $335, maintaining a Buy rating.
The firm cited accelerating AWS growth, strong AI and custom chip momentum, a higher 2026 capex plan of $220B, robust $496B backlog, solid Prime demand, and 26% advertising growth, saying the results reinforce Amazon's long-term AI and cloud leadership.
(@WalterBloomberg)
Goldman Sachs raised its Amazon price target to $375 from $335, maintaining a Buy rating.
The firm cited accelerating AWS growth, strong AI and custom chip momentum, a higher 2026 capex plan of $220B, robust $496B backlog, solid Prime demand, and 26% advertising growth, saying the results reinforce Amazon's long-term AI and cloud leadership.
(@WalterBloomberg)
👍6
$AAPL - GOLDMAN CUTS APPLE PT ON SOFTER OUTLOOK
Goldman Sachs cut its Apple price target to $360 from $370, while maintaining a Buy rating.
The firm said Q3 results were largely in line, but weaker-than-expected Q4 guidance on revenue growth and margins weighed on the outlook. Goldman expects sentiment to improve as price increases, new AI features and product launches support revenue and margins.
(@WalterBloomberg)
Goldman Sachs cut its Apple price target to $360 from $370, while maintaining a Buy rating.
The firm said Q3 results were largely in line, but weaker-than-expected Q4 guidance on revenue growth and margins weighed on the outlook. Goldman expects sentiment to improve as price increases, new AI features and product launches support revenue and margins.
(@WalterBloomberg)
👍3
U.S. S&P 500 E-MINI FUTURES UP 0.45%, NASDAQ 100 FUTURES UP 1.2%, DOW FUTURES UP 0.5%
(@WalterBloomberg)
(@WalterBloomberg)
👍2
$AAPL - APPLE SHARES FALL 6.6% PREMARKET AFTER CURRENT-QUARTER SALES FORECAST MISSES WALL STREET TARGET
(@WalterBloomberg)
(@WalterBloomberg)
👍7
$AMZN - BERNSTEIN RAISES AMAZON PT ON AWS, AI MOMENTUM
Bernstein raised its Amazon price target to $320 from $315, maintaining an Outperform rating.
The firm cited stronger-than-expected 37% AWS revenue growth, a $25B AI revenue run rate, expanding AI chip business and clear returns on AI investment. Bernstein also highlighted Amazon's higher 2026 capex of $220B, backed by strong demand and attractive payback periods.
(@WalterBloomberg)
Bernstein raised its Amazon price target to $320 from $315, maintaining an Outperform rating.
The firm cited stronger-than-expected 37% AWS revenue growth, a $25B AI revenue run rate, expanding AI chip business and clear returns on AI investment. Bernstein also highlighted Amazon's higher 2026 capex of $220B, backed by strong demand and attractive payback periods.
(@WalterBloomberg)
👍6
CBOE VOLATILITY INDEX HITS OVER ONE-WEEK LOW; LAST DOWN 0.28 POINTS AT 16.81
(@WalterBloomberg)
(@WalterBloomberg)
👍4
YEN SUDDENLY STRENGTHENS, TRADERS ALERT TO INTERVENTION RISK
(@WalterBloomberg)
(@WalterBloomberg)
👍7
IRAN'S FARS SAYS IRGC STOPPED TWO TANKERS FROM PASSING THROUGH STRAIT OF HORMUZ; 4 OTHER TANKERS CHANGED COURSE
(@WalterBloomberg)
(@WalterBloomberg)
👍7👎2👏1
EUROZONE INFLATION REACCELERATES
Eurozone inflation rose to 2.9% in July from 2.8%, matching forecasts, as higher oil prices following renewed US-Iran tensions lifted energy costs.
The data reinforced expectations the ECB will raise interest rates again, with markets and economists now focused on a potential September hike. Core and services inflation also accelerated, while the eurozone economy continued to show resilient growth.
(@WalterBloomberg)
Eurozone inflation rose to 2.9% in July from 2.8%, matching forecasts, as higher oil prices following renewed US-Iran tensions lifted energy costs.
The data reinforced expectations the ECB will raise interest rates again, with markets and economists now focused on a potential September hike. Core and services inflation also accelerated, while the eurozone economy continued to show resilient growth.
(@WalterBloomberg)
👍2
KOREAN CHIP STOCKS STAGE RECORD REBOUND
SK Hynix surged 30% and Samsung Electronics jumped 27%, lifting the Kospi 18%, as Citadel's purchase of distressed AI assets fueled a relief rally.
Analysts said heavy deleveraging by retail investors and hedge funds has largely run its course, improving sentiment toward Korean equities after weeks of sharp AI-driven selling.
(@WalterBloomberg)
SK Hynix surged 30% and Samsung Electronics jumped 27%, lifting the Kospi 18%, as Citadel's purchase of distressed AI assets fueled a relief rally.
Analysts said heavy deleveraging by retail investors and hedge funds has largely run its course, improving sentiment toward Korean equities after weeks of sharp AI-driven selling.
(@WalterBloomberg)
👍7👎1👏1
$AMZN - AMAZON - DURING Q2 2026, WE RECEIVED ABOUT $640 MILLION OF TARIFF REFUNDS UNDER IEEPA - FILING
(@WalterBloomberg)
(@WalterBloomberg)
👍6
JAPAN LIKELY SPENT MORE THAN Y6 TLN ON CURRENCY INTERVENTION ON JULY 30, DATA SUGGEST
(@WalterBloomberg)
(@WalterBloomberg)
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$XOM - EXXONMISSES ESTIMATES AS OUTPUT REMAINS STRONG
Results
Adj. EPS: $3.52 vs. $3.54-$3.60 est. ❌
Adj. Earnings: $14.68B vs. $15.10B est. ❌
Production: 4.514M boepd
Permian Production: Record 1.8M+ boepd
Operations
Guyana: Fifth FPSO to begin production in Q4.
Outages: 150K boepd offline in UAE; 450K boepd remains offline in Qatar.
Capital Return
Dividend: $1.03/share declared for Q3.
(@WalterBloomberg)
Results
Adj. EPS: $3.52 vs. $3.54-$3.60 est. ❌
Adj. Earnings: $14.68B vs. $15.10B est. ❌
Production: 4.514M boepd
Permian Production: Record 1.8M+ boepd
Operations
Guyana: Fifth FPSO to begin production in Q4.
Outages: 150K boepd offline in UAE; 450K boepd remains offline in Qatar.
Capital Return
Dividend: $1.03/share declared for Q3.
(@WalterBloomberg)
👍3👎1
MARKET MOVERS
🟢 UPGRADES
$BAX: Citigroup upgraded to Neutral; PT raised to $28 from $17
$CORZ: KBW upgraded to Outperform; PT raised to $28 from $25
$PTEN: JP Morgan upgraded to Neutral; PT raised to $12 from $10
$KPTI: H.C. Wainwright upgraded to Neutral
🔴 DOWNGRADES
$RBLX: Benchmark downgraded to Sell; PT cut to $50 from $60
$BXMT: KBW downgraded to Market Perform; PT cut to $16 from $20
$NBTB: Stephens downgraded to Equal Weight; PT raised to $55 from $52
(@WalterBloomberg)
🟢 UPGRADES
$BAX: Citigroup upgraded to Neutral; PT raised to $28 from $17
$CORZ: KBW upgraded to Outperform; PT raised to $28 from $25
$PTEN: JP Morgan upgraded to Neutral; PT raised to $12 from $10
$KPTI: H.C. Wainwright upgraded to Neutral
🔴 DOWNGRADES
$RBLX: Benchmark downgraded to Sell; PT cut to $50 from $60
$BXMT: KBW downgraded to Market Perform; PT cut to $16 from $20
$NBTB: Stephens downgraded to Equal Weight; PT raised to $55 from $52
(@WalterBloomberg)
📅 TRUMP SCHEDULE — FRIDAY, JULY 31
7:30 AM — Out-of-town travel pool call time
8:00 AM — Executive Time
9:00 AM — In-town pool call time
11:00 AM — Cabinet Meeting (Camp David)
TBD
• Departs White House for Camp David
• Arrives Camp David
• Departs for Bedminster, NJ
• Arrives Trump National Golf Club Bedminster
(@WalterBloomberg)
7:30 AM — Out-of-town travel pool call time
8:00 AM — Executive Time
9:00 AM — In-town pool call time
11:00 AM — Cabinet Meeting (Camp David)
TBD
• Departs White House for Camp David
• Arrives Camp David
• Departs for Bedminster, NJ
• Arrives Trump National Golf Club Bedminster
(@WalterBloomberg)
👍2
SPAIN CALLS MIGRANT SURGE AN 'ATTACK'
Spanish PM Pedro Sánchez called the arrival of up to 60,000 migrants into Ceuta from Morocco a violation of Spain's territorial integrity.
Spain has begun returning migrants with Morocco's cooperation and deployed the military to secure the border. The crisis has prompted calls across Europe for tougher border controls and renewed scrutiny of Spain's immigration policies.
(@WalterBloomberg)
Spanish PM Pedro Sánchez called the arrival of up to 60,000 migrants into Ceuta from Morocco a violation of Spain's territorial integrity.
Spain has begun returning migrants with Morocco's cooperation and deployed the military to secure the border. The crisis has prompted calls across Europe for tougher border controls and renewed scrutiny of Spain's immigration policies.
(@WalterBloomberg)
👏5👍2
BOFA: INFLATION EXPECTATIONS TEST FED CREDIBILITY
BofA said 5Y5Y forward inflation expectations have become the key gauge of Fed credibility as markets question whether policymakers will follow through on inflation-fighting rhetoric.
The bank said recent gains in forward breakevens reflect weakening confidence in the Fed, though levels remain within historical ranges. BofA still expects the Fed to begin raising rates in September.
(@WalterBloomberg)
BofA said 5Y5Y forward inflation expectations have become the key gauge of Fed credibility as markets question whether policymakers will follow through on inflation-fighting rhetoric.
The bank said recent gains in forward breakevens reflect weakening confidence in the Fed, though levels remain within historical ranges. BofA still expects the Fed to begin raising rates in September.
(@WalterBloomberg)
👍1
MORGAN STANLEY CUTS CHINA GDP FORECAST
Morgan Stanley lowered its 2026 China GDP forecast to 4.6% from 4.8% after weaker-than-expected June activity.
The bank cited slowing infrastructure spending, softer consumer demand and continued property weakness. It expects policy support to stay focused on AI and energy infrastructure rather than consumption, while still forecasting modest growth improvement in the second half.
(@WalterBloomberg)
Morgan Stanley lowered its 2026 China GDP forecast to 4.6% from 4.8% after weaker-than-expected June activity.
The bank cited slowing infrastructure spending, softer consumer demand and continued property weakness. It expects policy support to stay focused on AI and energy infrastructure rather than consumption, while still forecasting modest growth improvement in the second half.
(@WalterBloomberg)