FAANG Stock NEWS | TESLA & NETFLIX Earnings Next Week! | Summary and Q&A

October 13, 2023
The Investor Channel
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FAANG Stock NEWS | TESLA & NETFLIX Earnings Next Week!


Major tech stocks such as Meta, Apple, Amazon, Netflix, Nvidia, Google, Microsoft, and Tesla have had mixed performance leading up to their upcoming earnings reports. Meta has been relatively flat, Apple's search deal with Google is a significant part of its profits, Amazon is focusing on cost-saving measures, Netflix is facing a wage dispute and changing its ad Chief, Nvidia is benefiting from strong sales and may expand chip production, Google is facing backlash over AI development, Microsoft made a large investment in OpenAI, and Tesla workers in Germany are expressing concerns over working conditions.

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Key Insights

  • ๐Ÿค— Meta's flat performance may be due to the upcoming earnings report and the release of language models as free open source.
  • ๐Ÿค Apple's search deal with Google is a significant contributor to its operating profits, demonstrating the profitability of AI in voice assistants.
  • ๐Ÿ’พ Amazon's cost-saving measures and strategic decisions are expected to positively impact its earnings and operations.
  • ๐Ÿซ  Netflix's wage dispute and change in ad Chief reflect the company's efforts to navigate the evolving streaming market and explore new revenue streams such as live sports.
  • ๐Ÿ’— Nvidia's strong sales and potential expansion in chip production indicate the company's growing market presence and demand for its products.
  • ๐Ÿ˜€ Google's patent case and the backlash over AI development highlight the challenges faced by tech giants in legal battles and public perception.
  • ๐Ÿ’— Microsoft's large investment in OpenAI and its potential stock sale showcase the company's commitment to AI development and the growing value of the AI market.
  • ๐Ÿคจ Tesla's concerns over working conditions and the ongoing union dispute raise important questions about labor rights and management practices in the manufacturing industry.


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Questions & Answers

Q: What updates does OpenAI plan to unveil?

OpenAI plans to unveil new updates, potentially including lower costs to attract more developers. They will showcase these updates at a developer conference in San Francisco on November 6th.

Q: How much does Apple's search deal with Google contribute to its operating profits?

The search deal between Apple and Google is said to be worth between $18 and $20 billion annually and accounts for approximately 14-16% of Apple's operating profits.

Q: Why did Netflix change its ad Chief?

Netflix changed its ad Chief as the growth of its ad tier was starting to struggle. The company aims to improve its revenue and profitability by exploring new strategies and making changes to its ad offerings.

Q: What is the benefit of Taiwan Semiconductor starting advanced chip production in Japan?

Additional chip production facilities are beneficial for the overall supply chain. While the production of chips is not entirely independent of other countries, diversifying chip production locations helps mitigate potential disruptions and strengthens the supply chain.

Q: What is the significance of Microsoft's $29 billion back tax notice from the IRS?

Microsoft received notice from the IRS for approximately $29 billion in back taxes for the years 2004 to 2013. While Microsoft is likely to negotiate a lower settlement amount, this signifies a potential tax liability that the company may need to address.

Q: What concerns have workers at Tesla's German factory expressed?

Workers at Tesla's German factory have expressed concerns over high workloads, staff shortages, and excessively high production targets. These concerns highlight potential labor issues that need to be addressed for the well-being of the workers and the smooth operation of the factory.

Summary & Key Takeaways

  • Meta: Meta platform's stock remained flat throughout the week, and they are approaching their earnings report on October 25th. OpenAI plans to unveil updates that could attract more developers. Meta is releasing its language models for free open source, potentially affecting the market.

  • Apple: Apple's stock climbed around 1.5% during the week, and they will report earnings on November 2nd. Their search deal with Google contributes 14-16% of Apple's operating profits. Teens are buying iPhones at high levels, showing strong interest in Apple products.

  • Amazon: Amazon had a positive week, with its stock up over 3.7%. They will report earnings on October 26th. The company has been cost-saving and making tough investment decisions. Their deal with iRoot is facing doubts, as the market doesn't believe it will go through.

  • Netflix: Netflix's stock declined over 7.3% in the week before earnings. The Writers Guild approved a new contract, benefiting Netflix in the long run. Netflix changed its ad Chief and may be venturing into live sports in 2024. They are planning to open physical locations called Netflix House for retail, live events, and dining options.

  • Nvidia: Nvidia had a positive week, with its stock up over 2%. Taiwan Semiconductor may start advanced chip production in a second Japanese plant, benefiting the supply chain. AMD is using an open-source AI software called Nod.ai to deploy high-performing models on AMD hardware.

  • Google: Google's stock remained relatively flat during the week, and they will report earnings on October 24th. Sonos faced a setback in its patent case against Google, as a judge ruled in favor of Google. Google's implementation of AI in its next voice assistant may face backlash. The search deal with Apple is worth $18-20 billion annually.

  • Microsoft: Microsoft's stock had a positive week, with a gain of over 1%. OpenAI reported significant sales growth and is nearing a stock sale at a $90 billion valuation. Microsoft's $69 billion purchase of Activision has received UK approval. The company received notice from the IRS for back taxes amounting to nearly $29 billion.

  • Tesla: Tesla's stock declined around 1% during the week. Workers at the German factory expressed concerns over working conditions and high production targets. Tesla announced a pay rise amid a union dispute at the facility. The United Auto Workers' strike in the US is approaching a tipping point, which may impact Tesla's production.

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