Breaking Down the Busiest Day of Earnings, and What’s Next for the Markets

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 29 October 2020

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Apple, Amazon, Alphabet, Facebook and more all reporting earnings after the bell. The traders break down all the action and dive into the results. Plus, Canaccord Genuity’s Tony Dwyer puts this week’s market sell-off into perspective and forecasts what these tech results will mean for stocks for the balance of the year.

Transcript

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0:00.0	I'm Melissa Lee and this is Fast Money.
0:03.5	Tonight's trader line up, Guy Dami, Tim Seymour, Karen Finerman and Dan Nathan,
0:07.0	and it's such a big night that we have added Fast Money Friend Jean Munster to the lineup.
0:11.6	He is here to break down the flood of tech earnings that just hit the street.
0:15.0	Facebook, Amazon, Apple, Alphabet, and Twitter all on the move in the after hour session following their
0:19.2	latest quarterly results. Many of those conference calls are now underway. We've got full team
0:23.6	coverage standing by to break down all of the results. Let's kick things off
0:27.0	with Apple. Josh Lipton's got the numbers for us. Josh.
0:30.3	So Melissa, Apple reporting Q4 results here be on the bottom and the top.
0:35.0	I phone revenue 26.4 billion in the quarter.
0:38.0	The street was looking for closer to 27.9 billion.
0:42.0	The other segments so that services the segment that includes
0:44.9	wearables, Mac, iPad, beating expectations. I did get the chance to talk with
0:49.6	CEO Tim Cook about the court. Let me bring you that color on the decision first of all not to offer a Q1 forecast.
0:56.8	Cook saying the pandemic is simply causing too much uncertainty right now telling us if you
1:02.1	look at the case count cook saying the case counts are
1:05.0	climbing in Western Europe they're climbing in the United States and so cook says
1:08.9	there's still a still a sufficient level of uncertainty out there.
1:12.8	We don't believe that's an environment to guide into.
1:15.7	Now as for the iPhone franchise, Cook
1:17.5	emphasizing that this fiscal Q4 was different
1:20.3	because Apple launch, she says, new iPhones later this this time so he's not seeing the
	...

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