Foreign Gotta Move Speaking the truth, Yeah, thank you. We're Gonna Take On The World We're Gonna Take On The World Oh brother, oh brother, oh brother, hello, hello, hello. Welcome to what's kind of gearing up to be a bit of a barn burner type of a day as we are all sitting on the edge of our seats preferably because I'm actually standing right now I'm told that it's better for my health, but emotionally, I'm on the edge of my seat awaiting the biggest earnings drop of the week. I'm talking about Apple I'm talking about Amazon And then there's even some others.

DraftKings Coinbase Airbnb It's going to be interesting to say the least to see the Market's reaction when all of these reports drop after that. Bell goes Ding Ding Ding Ding Dong. Well, I Hope that whatever you did today made you money I Hope you were respecting your risk I Hope you're respecting your reward I Hope you were respecting your discipline. So of course we're going to be talking about all that good stuff.

We're going to be talking about what's going down for earnings, but there's also a lot of other major things going down. So yeah, I Want to talk about this statistically likelihood of what's going down tomorrow? I Want to talk about what's going on with mortgages I Want to talk about the unemployment report we will be streaming early tomorrow. Uh, we need to talk about some things going on with Trump his indictment currently happening in real time now so there's a lot to go over. So I want to get all all that figured out? Dunzo Dunzo Dunzo.

And then if you guys want, there's some time at the end. We can even do a little bit of chart review so that that sounds fun, right? Some good old chart review. Um, sorry if the light is a little too bright over here I Didn't really feel like shutting that window and usually I'm in like a scary black box so I thought it'd be more helpful for me too get a bit more sunlight into my life. so if it's a little too bright, you're gonna have to deal with it.

so there's that. And on that note, folks, let's see what's going down. Let's see what's going down. Here's the old stock Market We've been ripping rippity rippity skippity doo dah from March all the way up until Thursday July 27th.

Then we saw lower highs, lower lows, and now we're kind of just chilling at 4 49. Now today we did gap down. We pushed to get that upside Gap fill perfect rejection at the trend line. So now it's just kind of awkward.

Even though we're putting in a green bar, the Spy is still down point one five percent today the accuser down 0.07 Today the cues similar situation. They actually filled their Gap even earlier, but same thing it got rejected at the trend line. So right now everyone's kind of waiting. Everyone's waiting trying to figure out what in the world is going to happen next.

and it's all on the shoulders of Apple currently trading at 190 130. it's all on the shoulders of Amazon currently trading at 129.24 If they both beat I'm expecting the market to rip to the upside if they both Miss I'm expecting a considerable size gap down. If it's a mixed bag situation, it's going to depend what's in said mixed bag. so just want that out there.

that right now I mean I actually do have a Futures position on, but I will be cutting it before the market concludes for the day just because I don't feel like taking the risk I'd rather take the trend of whatever is created tomorrow S P 500 is flat a day after its biggest drop since April we went about 40 45 days with actually not even having a one percent. Decline and now I like it like there's one red day and everyone in financial mainstream media is like yeah, it's legal. What in the world the world chill? you've ripped non-stop so obviously I want to talk all about that but before we get there I wanted to share something pretty cool with all of you I painted the not reels so I'm sure you guys all saw the ladies reaction when she was storming off the plane. She was like he's not real so leave it or they cannot believe it I Don't give two fucks but I am telling you right now.

Ow, that motherfucker back there is real and you can give me absolutely phenomenal photo. You have a mermaid you have Santa let's see who else is in here. Uh, you have a leprechaun, you have a unicorn, you have a lizard man, you have a Jackalope you have an alien you have uh Bigfoot Pretty pretty perfect. Pretty spot on I Always get envious of people with such artistic ability who are just like so evidently Talent talented I'm just I'm thoroughly impressed with them.

so I wanted to just show what Travis was up to. Don't know who Travis is, don't know what Travis is about but at Travis paints obviously a very talented artist. Now before you go thinking to yourself, what does this have to do with the market I'm already gonna let you know it has nothing to do with the market, but yet this show is basically for me to share all the cool things I find throughout the day with all of you Secondhand luxury watch prices slumped to near two-year low after a Rona run. Secondhand luxury watch prices are near two year low, following more than 31 since their peak in March of 22.

Resale prices for all the fanciest of watches have seen particular declines in the last two years, but are still well above levels from three years ago. Prices are likely to stabilize, fueled by strong demand from younger. Generations I Thought this was interesting to note just because this morning we had the story with post: Malone Who bought a magic the Gathering card for somewhere between 2 and 2.6 million dollars? So just this idea of what like what's in and collectibles and all that stuff I Do think it's kind of cool so just wanted to share that with you I myself like I'm the kind of person who thinks it would be cool to start a watch collection and then yet I just never do like I think it is cool. Like the concept of time we talk about time, the linear nature, the Gregorian calendar if you're an option Trader if you sell premium, you want time so like I think there is a natural connection to like some of the things that I'm personally interested in what we talk about on the show and just life in general.

like I think it's good to be respectful of time without getting too philosophical on anyone. so like I think it'd be cool to start a collection I just don't own any of it so that that's where I'm at. You know who wishes they had a bit more time? Trump Trump arraignment live updates Ex-president lands in DC to face charges of election interference. Let's see what the most recent updates are.

Uh, actually we'll see this one. They did just land here at Ronald Reagan National Airport in Washington D.C Take a look at the picture from just a moment ago, the Trump airplane landing in Suburban Virginia Here, the former President emerging a grim-faced I think you can say saying uh, thank you to some supporters there on the ground and making his way to his motorcade. He's going to now motorcade a relatively short distance to downtown Washington D.C where the Federal Courthouse is located. He's going to make an appearance there in response to a summons and remember this is a four count indictment of the former President of the United States Unlike anything we've seen in the history of the United States The indictment charges the former President of the United States with conspiracy to defraud the United States conspiracy to obstruct an official proceeding, obstruction of and attempting to obstruct an official proceeding, and conspiracy against rights specifically voting rights.

all in the context of the former President's effort to overturn the 2020 election results. Now, we can expect the former President here to make a vigorous defense of himself. He is an active candidate for President of the United States. We've already seen a number of his supporters out there making the case that this indictment is illegitimate on the grounds that it essentially goes after what they're saying is the former President's Free Speech rights to Simply raise questions about the validity of the election results.

The the special counsel in this case Jack Smith clearly didn't buy that argument. He addresses it in the indictment and we'll see how. this court proceeding goes from here. We're expecting the former President to be making an appearance in court around 4 P.M Eastern Time as you watch the motorcade there, departing the the tarmac at Ronald Reagan National Airport and making its way to Washington D.C So we'll see the legal proceedings in about an hour's time.

the President's going to. clearly, the former President is going to clearly have plenty of time to make it there. It's not a very long drive between DCA and the Pettyman Courthouse in downtown D.C Guys, back over to you All right? So now that we've heard that, uh, shout out Stephen Appreciate that Rumble Ramp. Now that we all we have that information, my question to you folks, if you don't mind me asking, especially because I'm sure there is a slew of legal knowledge within this chat.

Guilty or not, We're not lawyers. We don't have the information on the case, but that's not going to stop us here in the Matt Coors live show to figure out if he is guilty or not. You know what really matters The Court of Public Opinion. and we have public opinions.

Well, we have opinions here and we are speaking publicly. So it's our god-given us of a right to make up our minds right now without enough information. So folks let me hear it. Is he guilty or not guilty? Is he G or not? G Um, don't And once again, don't look into the facts of the case.

That's silly. That's not how real law is figured out. Don't worry about the evidence of the case. That's not how real cases are decided.

It's all about our gut feeling. and I'm relying on you folks on this day to tell me what he is. Is he G or is he not G: That's all that really matters. Not all right Nachi, Not GG Guilty not convicted, guilty, not guilty GGG Not dude.

You guys are even 50 50. This is what I love about the Court of Public Opinion is it's the thing that really matters way more than the actual court and we all come to our opinions with like not much information. You guys are particularly split on this particularly. Yeah, let's make a poll.

You guys are actually so 50 50. that start a poll Trump Guilty, Guilty. not guilty. All right, the poll is coming at you fast.

If you're unrumbling, you want to vote, you're gonna have to go over to YouTube's uh, because there's no polling ability right now. Or if you're over there, you could just comment um YouTube is full of cocks Cam's fighting this morning Cam's like I've had enough of this I'm gonna say what I really mean Okay, I'm just coming in barrels blasted Cam's having a rough day all right. Cam is definitely having a rough day which charge specifically? Who cares, man. just give me your opinion I don't want you to think about this too much like let's just let's just you know, just just fire Fire first, ask question second fire first, ask question second.

uh so you guys could vote as I Continue on all this and we'll we'll review. We'll review how good you guys are at Law in a bit. If you guys remember this story. uh I Just want to give you the final.

Well, this isn't the final conclusion, but it's the second to final conclusion. Remember how we found the most influential Wall Street rapper of all time? the crocodile of Wall Street she just she was sick nasty at rapping. She was the brightest Financial mind of our time and she was also apparently a heist uh, kind of responsible for one of the largest crypto heists ever. Well anyway, uh, they're back in the news the couple but she was actually the crocodile of Wall Street But anyway.

uh Wall Street rapper's husband pleads guilty and cryptoized tied to Bitfenix hack uh Liechtenstein and Morgan reach cooperation deal with prosecutors after uh he hacked exchanged a couple laundered stolen Bitcoin dude I they need to let our girl out honestly I don't care what she did I Really don't that lady? that woman that just inspiration of a person needs to be back on the streets. If we expect both music and finance to get to the next level, these are the kind of people we want. These are the kind of people we want. These are the kind of people we need I think she should be let go.

She should be back in the population just because of what we're going to lose out on as a society without her in it. So anyway, this is a little bit of a callback to a story that we probably covered a year and a half ago. So for those of you who are with me, then there's your update on how that's going. Probably going to spend the less rest of their life in prison if I if I had to guess there.

All right, big news of the day Apple Earnings coming out after the market closes. My question to you is do any of you know the time? That is it Like 405, 410, 415 Does anyone off the top of their head know the time that Apple's earnings report I Know the earnings call is going to be later. but I'm talking about the earnings report like the actual numbers. Does anyone know that off the top of their head? Uh, it's escaping me right now and I don't want to give any incorrect information.

but anyway Apple it's gonna have a huge impact on the market a like it's I don't know you should listen to this. like because it really is that impactful I mean what's going down with Apple which is not having the best clothes of the day apple and Amazon on the right side of your screen? It's going to cause the market to either Gap up or gap down tomorrow. Like it truly is impactful. The market cap has been over three trillion dollars since June, but it's about to post results for what is typically its slowest three months of the year.

the street expecting a little under 82 billion in revenue for the quarter uh, 2.3 percent year-over-year decline. Is it just a fluke? or will Top Line growth remain challenging. Joining me now to discuss is Martin Yang Who covers Tech at Oppenheimer and has an album and our very own? They make a movie and I guess my question would be, um, a little bit about this. this Revenue decline just kind of broadly give us what people are expecting.

Yeah sure. Kelly So this was going to be most likely. The third quarterback was guided and estimates are out there saying of Revenue declines and that's just because of a lot of macro headwinds Apple has been facing like so much of the other consumer electronics. uh, companies.

uh, demand falling in the US and China. There's two important markets and we do hear this growth Story coming out of Emerging Markets like India or Indonesia but clearly not enough to make up for the lack of sales in those other bigger markets. So what you should really pay attention to though Kelly is the Outlook because the question going into the today's earnings is whether or not Apple can return to that growth after those three down quarters. So any kind of bullish commentary we hear out of Tim Cook and his Executives on what they're seeing any green shoots in the U.S economy after we've gotten so many, uh, positive data points in recent months and then also on the China side which is kind of the opposite story, right? We've seen, uh, so much negative economic data points coming out of there and how that all shakes out and again, of course.

uh, in September we're expecting new iPhones so they'll get a couple, uh, weeks of new iPhone sales at the end of the current quarter. Kelly Martin What do you think is the key driver for the stock here? Yeah, the key driver for the stock is um, for this year is no longer going to be the hardware sales I Think it's widely accepted that I'm mad. His voice is a lot deeper than I expected him to be demand coming out of the covet and iPhone itself is an eye due to poor, uh, quick pause there for a second and before I say this: I Understand how this might come off as racist, but if you think it's racist, you're overlooking the fact that it's funny. and a hundred times out of a hundred times funny trumps being racist.

Now before I tell you the joke if I pause the screen right here. Who here gets where I'm going with this. Who who can see the kind of joke that I'm gonna go with you. You know what? Honestly, maybe I'm not gonna say anything because if I say something that makes me a racist.

but if I just pause it here and tell you that there's something funny on the screen, it's up to you to find it. And then technically I'm not the racist. In fact, if you get it, you're then the racist. So I think we'll just leave it at that.

So currently a joke on the screen? maybe maybe not and we'll just go from there. Yeah, then I'm MAC uh, an iPad will be challenged due to pull forward to the end. coming out of the covet and iPhone itself is not a gist of interesting a strong a product cycle as it has seen in the past two years. Uh, we're expecting Apple to make comments, management to make comments regarding limitation of large language models on its devices and that can maybe spark renewed interest in new gross rivalries for Hardware in the coming years Beyond this particular year.

So where when do you think they're going to return to Top Line Growth and does it matter? Uh, return to hotline. Growth doesn't matter in a near term, but it does matter in the longer term. When you look at Apple in an annual basis, it can reliable raise iPhone prices uh, double digit Um, very consistently and coming out of this law and during the Callback uh to then pull forward Mac and uh iPad will continue on as Mark is sure. Gang story I Think what matters uh beyond the six month period And In the next maybe three to six months uh, doesn't matter as much? Yeah, quick last word to you Steve What else will you be focused on? How did they keep it straight for the services? So on the Outlook also Morgan Stanley Expecting a services to return to that double-digit growth and any commentary from Apple about uh, the install base because that's the key for services for all those users.

How they can charge them more for all the various services And we've been seeing some Resurgence here on the services side uh from others whatsoever. Advertising seems to be coming back a little bit. That's important for the App Store and even gaming coming back a little bit. Nintendo Reported incredible results earlier today, so if gaming is coming back, that's great news to the App Store and services.

Kelly All right, thank you both. Steve Kovac All right there you have it. You also need to know it's a double decker type of reporting day. Amazon's set to report second quarter earnings.

After the Bell Apple Amazon Bell goes ding ding ding. we get the numbers and then we realize that the Market's gonna rip to the upside or completely plummet to the downside. But it doesn't end there. Kind of like the Billy Mason.

But wait, there's more before the Market opens tomorrow. An hour before the Market opens tomorrow. We get the unemployment rate, the non-farm payrolls number, and the average hourly earnings which will normally has a huge impact on the market. And like just you could see instant volatility in the market.

Uh, this time around there's gonna be even more. There will be more. There will be more. There will be more.

And the reason there's going to be more emphasis on this one is because from the last Fomc meaning Jerome Powell Daddy of Monetary Policy told everyone, hey folks, we're really paying attention to the unemployment numbers, the labor numbers, labor force participation. so there's going to be a particularly large emphasis on this. So please pay attention to it. Please please please please please please please please please.

We will be streaming early tomorrow. If you are not there, I'm gonna show up at your house this weekend and I'm gonna yell at you in front of your wife or husband or whoever you're cheating on them with Whoever's there, they're gonna see me verbally accost you. And the only way you could avoid that is if you are just here on time. Class starts at 8 20, 8 25.

Show up with your coffee, be well rested. We're gonna end Friday with a good good vibe. So you need to be here on time or it's going to cause problems. She's non-existent.

Please don't. Uh. Speaking of macroeconomic reports, I Just want you know, mortgage rates in the US rise for a second straight week hitting 6.9 percent nice. You should also know that for tomorrow Friday August the 4th.

The seasonality does favor the Bulls ever so slightly. Bullwin percentage: 56 profit factor of 1.67 and the bias leaning bullet show it was kind of up, then a little down, then kind of flat and recently over the past five years it has favored the Bulls. So that's why I put Leaning Bullish if you want to become a goonie and get this information for free Macquares.locals.com It is pinned to the top of chat it is in the description of the video. Check it out, Check it out, Check it out.

Check it out. Matt Cores.locals.com pin to the top of chat in the description of the video and on top of that I post out some of my training ideas. Other people do as well. Eventually this will be hooked up to a Discord It isn't as of now because Locals is having some technical issues, but when that's figured out, boy oh boy will we be able to shit talk each other all day.

Uh, what are we looking at right now Market Little bit of a downtrend into the end of the day trying to pop a little bit Right now here, let's bring up the one minute on the spy and the queues. let's see how things are going to conclude people. all of a sudden at 350 355 deciding to buy Apple it's going to be a barn burner folks. An absolute burn burner.

Uh I Still I've been short a couple future contracts right now and I'm working on managing the position. Where am I Oh, I'm down. 120 bucks, 127 bucks. That's not cool.

Hey, that's not cool. Uh so let's see how this all goes. Let's see how we really, what's it? Oh, hang on, we do have this vote. 65 of you think he'll be not guilty on YouTube Honestly Rumble I Feel like Rumble Chat owes YouTube Chat an apology because Rumble Chat was all like YouTube's gonna vote guilty.

Oh man, they're gonna vote guilty because that's what YouTube Chat does. That's what you sounded like Rumble very honestly. I'm gonna call it out how I see it you guys were negative nancies against YouTube chat for no reason you trying to act all high and mighty and be like YouTube chat's gonna say not guilty because they're little liberal snowflakes over there apparently not. Uh, so you you might want to say screw YouTube Chats: there's still cocks so harsh for no reason.

You're just like I still hate them. You guys are just like the Hatfields and Mccoy's like you don't even know why at this point you. you don't even know why at this point you're like I just was told to dislike him. So I'm gonna dislike them and hey, in a weird way I appreciate you for sticking to your guns with it.

Uh, just like for no reason whatsoever. you're like nope I just dislike them I have to dislike them so you do dislike them. And yeah, was this one uh YouTube chat won't admit that guy was Asian This is getting this. Honestly, the the night show isn't even that long of a show and we're already off the rails with it.

But here we are here. We are here we are. So we have about two minutes until the Bell goes. Dingety ding ding ding and a little bit of a chart review.

Looking at the daily chart, this is still bearish to me ever since. Monday July 31st that every day this week, lower highs every day, lower lows every day. The trend this week has been to the downside. If you can't see it, it's probably because you're blind.

The Bears this week have been winning. Will they win when the week is actually over? I Have no idea I don't know. it all depends on Apple and Amazon I have no special prediction or premonition of the current situation. All I can tell you is it's coming down to Apple it's coming down to Amazon I'm not making a particular bet on it at all like whatever it is I'm gonna be reactionary to it if it goes up great tomorrow.

I'll be bullish if it goes down great tomorrow. I'll be bearish. It's easy peasy lemon squeezies I'm not like yolonging anything too hard into this particular play, but on that note, I know probably many of you are. So I'm kind of curious.

Are you feeling bullish or are you feeling bearish? I think Amazon kills it Apple Not sure. Well, everyone else, what's your votes on it and if if you end up voting after, we find out it just doesn't count, No one likes people who votes afterward. You know you just need to. You got to tell us now.

Bullish Bullish Bear Bowl bearable Battle Star Galactical Bullish Green Bear Bear Amazon goes up Apple goes down. Now that's the second person who said that. Either you're the same person or you're looking at the exact same information, curious to know which it is curious to know Apple down Amazon Up That's the third person who said that. Your mom, hey, hey, my mom will beat your ass Mama Cores doesn't mess around.

The mama cores throws back of the head, slaps around like they're freaking candy. Oh, you want some dessert? How about this knuckle sandwich? That was a conversation that was probably had once a week in my household growing up. Uh, just to share a little bit of my personal personal life. Uh, big old bear? apple up.

Amazon Also up. Look how it turned out. Oh geez, we are selling in the clothes. Stop the pain.

Oh dude who pulled out the stop there. Holy shit dude. 359 went down and they were not fucking around. Dude, What? What? 359 hit and the bears were like say hello to my little friend.

dude. the Bears were not fucking off into that close. Some days some days people fuck off in the clothes. This was not one of those days.

they were holy guacamole. Batman that was nuts. Uh I don't have a mom. me and my dad use yours.

That's inappropriate I don't like the connotations. oh man, we went the other way. Holy shit man. dude.

we are all over the map with this today. all over the map with this today. good luck. Oh wow, this is getting crazy.

Told you it'd be fun I don't even are the numbers actually out yet? I Guess Amazon's numbers are out Amazon Went from 129 to 136. this is folks. We said a barn burner and we're giving you a barn burner. Uh, are Amazon's numbers out? uh Savage but you paid to get that red so it's not real LOL Hey, it's the internet.

You can't take it too seriously. All right, let me see if I can find any of these numbers for you. You cool kids, you cool cats and kittens. Amazon Amazon Q2 Net Sales: 134.3 billion Estimate was 131, Income 7.68 versus an estimate of 4.7 Margins was 5.7 estimate of 3.5 uh uh.

Net sales for Q3 138 billion to 143 Estimate was Uh 138 Wow. So Amazon Crushed Uh EPS was 65. The expectation was 35. Operating income was 7.68 when the estimate was 4.72 Amazon Murdered Amazon Really murdered Wow.

Wow Dude Amazon Crushed It Does anyone know the time for Apple Uh uh uh. Does anyone know the time for the Apple data release Apple Data: Apple Data Apple A-a-p-l Apple Apple Apple Dude, that was not not Apple Okay, Okay, okay, okay. okay. Okay, let me see if I can find these.

Let me see if I can find these. Let me see if I can find these latest. Amazon So in terms of the Bulls one good sign. what about Apple Now Apple trending up and the numbers aren't out yet? Say hello to my little friend Dude.

Talk about just like crazy volatile manipulation at the end of the day there talk about some whipsaw brother. Talk about some freaking whipsaw breaking apple and Amazon insist in their earnings call the A in their company name actually stands for AI and where are we at? Someone tweeted at me I'm just crying dude, Me and you both brother. Where are Apple's numbers? Where are Apples numbers? Where are Apple's numbers In terms of AWS Growth Uh, I Think we have some some back half of the Year growth to look forward to and I think the margin story is is probably what's getting more interesting if we see signs that retail margins ticked up. Um, you know, as well as AWS and the growth prospects there, that's going to make people burner.

Look at the stock again. George It's interesting. It looks like, um, the street was expecting around you know, 138 billion for Q3 revenue and that's the low end of the guide here to 143. has the street been sleeping on Amazon Um, maybe still.

You know when it comes to AI there's been a lot of talk about Microsoft having the lead. Um, even though Amazon's talking about bedrock and you know their plans there for AI and uh, and models, um, people still seem to be talking more about Microsoft and even Google do they have a chance here with these results to shift the narrative? That's what they're trying to do. and I think they're doing it very effectively. I'd Go back to my orchestration comment that these big companies know how to manage the street and expectations just brilliantly.

It's really fun to watch them do it so well. and I've been celebrating on Amazon all year I was buying the stock in October and November of last year I Just don't want to celebrate too long. We've already had about a 55 move this year, which has been remarkable for a six to seven month period and going forward it's going to get harder. Uh, Eric Want to get your thoughts on Amazon when it comes to AI because it says here, uh, in the release you have some commentary about that uh from Andy Jassy basically talking about um, the fact that they uh, that they are in a leadership position in the cloud with a slew of generative AI releases runs through some of those examples uh and says that they're also in addition to AI seeing strong demand for advertising services and goes on through.

But but the AI piece of it specifically? Um, do they need to say more about that? And I'm thinking about John's interview with Jesse just a couple weeks ago here. Well yeah, they they There's an opportunity there for sure that a day along with Apple really have shied away from from talking about AI the most I would say and therefore I think the fact that they're coming out on the release and then we'll see what's what comes on the call. they can. they can speak to that more I think it can get people excited I I agree with John I think that uh you.

you would think if you were just going by the news headlines of this year that that Microsoft was in the lead in the club I mean that's obviously Amazon is still the king here I think if they can speak to the AI part more that that will you know help to change the narrative that Microsoft sort of took took the Baton from them Well Andy tried to tell us here on overtime uh last month but maybe not everybody was listening Mike Santoli want to bring you into the conversation on Amazon Well, I do think it's uh, across-the-board relief. Uh, definitely in terms of the revenue guide also you mentioned John the operating income guide which is encouraging in its in its General range but it always fascinates me. I've been talking about this for years that it's a three billion dollar range for operating income in the quarter that's a third over. So it tells you how Amazon gets stuff to the bottom line which is with a wide variability in in how it's going to play out.

uh and that's just a function of that. You know it's not that they're managing for the to the penny. so all that uh I think reported Airbnb I don't know if they're sleeping on Amazon maybe that's changing right now. We'll see how the call play hasn't reported.

Uh, thank you I want to get out to Deirdre Bosa now with Airbnb results D Shares are down nearly five percent in extended trade even though we're seeing a beat on the top and the bottom line. I'll give you the numbers here: Earnings per share of 98 cents which is better than the 78 cents that was expected Revenue Small beat as well here 2.5 billion dollars versus 2.4 expected. Maybe a little bit of weakness that investors are taking issue with underneath the surface. Here nights and experiences booked was amiss, however.

gross value booked was actually better than expected. Guidance was better than expected as well. However, Adr's average daily rate if you might remember over the last over the pandemic, especially over the last few years this has been increasing, it is now moderating. They expect that to continue to do so in the future.

So again guys, a bit of a mixed quarter and remember, this company is valued at the higher end for Gig economy companies. so Shares are down more than five percent now. Yeah, Uh, George Want to get your reaction to that? especially since we have seen or there has been this expectation in the market Uh, that you're going to see some of that demand that Airbnb is benefited from in the pandemic. Coming out of the pandemic shift more to the hotel operators and you could argue that to a certain extent that has already played out this earnings season.

Yeah, and it's I think it's a process I don't think it's just an event and I think again. This is This is where I have to tip my hat at the mega cap Management's uh for Amazon and Microsoft and Apple and so forth and so on. They manage the street so well and it's harder for these smaller companies with more volatility when when they don't have quite as good a story and the expectations are are so high for them to do anything but disappoint, you're seeing that after hours with Airbnb Okay, we're gonna stick with the travel theme: Here for a moment because booking earnings are out and SEMA Modi has those numbers hi SEMA and Morgan It's a big beat for booking Holdings 37.62 cents adjusted well above Wall Street Consensus revenue of 5.4 billion also higher than the 5.17 billion estimate gross bookings as we know key here at 39.7 billion, that's up 15 year-over-year a stronger growth rate than than we saw from its peer Expedia earlier today, and above analyst expectations. So that's why you are seeing booking up about four percent in extended trade.

but more. What this really tells me is that booking Holdings given that it makes over 60 percent of its Revenue outside the U.S It's really benefiting from the uptick that we are seeing in cross-bought or travel more Americans headed to Europe and now as Asia reopens Uh, one stock that of course is benefiting as well and that's been playing out in some of the numbers here that we see for guidance as well. A conference call starts at 4 30. We'll get you more details as they come in.

Sounds good. Booking up four percent Airbnb Down more than four percent right now Coinbase earnings are out Kate Rooney has those numbers hi Kate Hey Morgan Coinbase with the beat in the second quarter. Smaller than expected loss here on EPS it was 42 cents Street Was expecting 77 cents there. Better than expected Coinbase revenues also Beat at 708 million dollars.

Recurring expenses were down 50 or so year over year. That included a 30 drop in head counts. a little bit of belt tightening here. Quote in the release from Brian Armstrong the CEO He said it was a strong quarter, executed well in a challenging environment.

They talked about cost cutting, operating efficiency six percent and some of the regulatory Clarity that they're looking Apple going up and optimism. Also have assets on the platform that was 12 billion dollars, subscription and services Revenue 335 million dollars as well and uh, that looks like total revenue as well as 708 million dollars shares here popping after hours More than six percent higher. Now back to you guys. Okay, uh, Kate thanks Eric Given what we saw from PayPal from Robin Hood Um, how do we? How are you digesting these coinbase results and does it at all? Um, is it going to relate to what we see from Block In just a few moments, what we're waiting to see from them? How are these uh, Fintech names shaking out? well I Think Coinbase? Uh is sort of off on its own or separate from PayPal's and block? Um, maybe Robin Hood You know they have some explosion to crypto.

I Think Coinbase is obviously a heavily shorted name. That's part of the reason I Think for the pop, it's going to be interesting to see. and it's interesting that they beat on revenue on the top line and I'd like like to see more about like user activity and and what that was like December was obviously the low for crypto ethereum and Bitcoin about great years. The altcoins have not had great years so it'd be interesting to see just how how much user activity uh came back in Q2 versus Q4 last year Mike Want to get your thoughts, your reaction to all of these different reports we've gotten so far and what stands out to you I'm looking for any other news.

What we did over the last last couple of days is, uh, take a little bit of the expectations down a notch so it was a better setup. Coinbase is like Robin Hood in this category of of companies that have you know kind of had to get away from the Galloping growth stories that they came public on and are much more about kind of managing a smaller opportunity in the here and now. So talking about the third quarter being similar to the second for for coinbase is not bad. but I still think that the bigger picture is you know, pressure on trading fees? uh and and I mean we know about the regulatory side of it, but to me it's more about exactly how big a market uh they're going to be addressing here.

All right Mike Said totally. We'll see you just uh in just a bit. Eric Jackson uh thank you George C thank you and we'll see you a little later in the show as well after the break. We're gonna have much more reaction to Amazon's results.

Find out what an analyst and a shareholder want to hear from Management on the call plus the countdown is on to Apple's numbers now those are due out at 4 30 PM Eastern We'll have a full team coverage on that airport all coming up ahead on overtime. Well golly golly. Oh interesting day. Okay, all right, all right.

All right. Well Airbnb obviously non-tech play missing Amazon Crushing coin Crush coins up 11 percent which one of you degenerates in here bought some coin calls which one of you degenerates was like you know what? this is where it's at. This is This is what I need because I would honestly just like to congratulate you. You took a big risk but obviously it was uh clearly worth it.

Clearly clearly worth it. Uh all right we are killing about 15 minutes till Apple just to know what the next move. I have coin calls Neil Congrats Whistling! Bought some Apple calls Well I hope it works out in your favor I Currently don't have any position on uh, deep in the money coin in Amazon for long congrats. Feels like some of you are really, really crushing it.

All right, let's see if we're missing anything else. uh, just news wise. Eric Trump leads lock him Up chant for Hunter Biden at Minneapolis rally Oh okay. well, that's that's one way to do it.

Um I think Jim Cramer got a new pup. Whoa. Bad puppy. Hey, you stopped that.

Oh and then it scares itself. Bad puppy trying to be a water bender dog. And then they got. Well, the earnings are out too.

Okay, mommy has those numbers for us. hi Kate how's hey Morgan Looking like a beat for Block in the second quarter. Also upping Ernie's guidance and giving a business update for July we've got adjusted EPS here 39 cents that looks like a Beat by about three cents Revenue coming in at 5.5 billion Also better than expected. A comfortable uh beat here on adjusted ebitda that was about 80 million dollars better than what the street was looking for.

Cash app Gross profit up 37 year over year. gross payment volume here looks like slightly shy of expectations at 59 billion dollars cash app total users came in at 54 million. That was up 15 every year over last year from last year company also giving that update for July and raising earnings expectation. They're looking for gross profit growth of 21 every year, also upping expectations for profitability, raising adjusted ebitda guidance, and adjusted operating income expectation for the full year.

I Talked briefly to the CFO and Rita Ahuja She said the growth was really driven by some of the banking products and as far as consumer health and consumer spending. She said we're extremely watchful. We track in real time a lot of these different metrics. She says what we've seen so far in the second quarter and early momentum in July is encouraging.

She also talked about Consumer Credit She says we have seen fairly consistent repayment and loss ranges that are within our expectations across the board. Stock is popping a bit here after hours up more than four percent of this point. Back to you all right Kate Thanks! Speaking of stocks popping Amazon shares Higher by about six and a half percent after its report crossed moments ago. Earnings and sales both topping estimates.

Let's bring in Green right now. Who's on that? Mcil Wayne of Madrona Venture group and Jeffrey's analyst Brent Thill who covers Amazon reads all over the place into tomorrow's trade. it's going to be I'm vomiting which is about nine percent. I think off of its recent High have people been underestimating Amazon in yours? they have and I think the operating income really shines in in overall income.

their their guidance next quarter. Uh, the street was at the low end of their their guide on operating uh income. so we we think that is is a good sign. AWS was a tad bit better and I think ultimately Microsoft and Google said optimization Trends are continuing.

If Amazon says that we're seeing workloads, move back to AWS and re-start of that business in the back half. Investors are going to continue to get excited, but I think it goes back to stabilization of the AWS combined with improved operating income and the stability of the consumer in Amazon stock does very well. When they're in Harvest mode, they're harvesting the Investments they put in the pandemic. they're not making as big of Investments and we're in this Harvest mode, which should be good for me Amazon's chance to break.

Just like reading all this about it initiatives, we were talking about it here on overtime. you know, since at least last month when Andy Jassy was on, but people seem to largely have been overlooking it. Well, first of all, I do think this is validation of Andy's strategy and capability as CEO I mean he has now been in the seat for two years and I think there was a lot of question marks after the end of the first year. A lot of the decisions that are showing up in these results are decisions that were made several quarters ago and so I think it is validation there I Think the bigger picture piece though is is that all these big cloud players are going to be winners in an era where we're going to have a next massive wave of innovation.

you know, just at the AWS Summit last week in New York Uh, some folks from Wolf research did some uh, some research and they found that 50 of the spend on AI and gen AI is going to be net new spend and so you've got this massive Tailwind I think I called it an AI windfall last week and you're seeing that show up early days in AWS I Think there's a lot more further to prove on the AWS versus Microsoft versus Google but there are going to be winners. It's going to be a matter of degrees. AKA Square Going red AWS Specifically, expectations, Operating income topped expectations I Mean we saw strong results in the cloud businesses for Alphabet and Microsoft as well a couple of weeks ago. I Mean: Is this a situation where we can confidently say there's been stabilization in Cloud spending and that this is really a rising tide that lifts all boats.

Right now, it is a time that's going to lift all three. Uh, AWS is the king of the jungle? Uh, there's no question. uh there in great spot. There's sentiment on AI is the worst though.

So when you look at Microsoft versus Google and Amazon everyone has been scratching our head in the industry where they're going to go in AI So the sentiment hasn't been as good and that's a good thing for the setup on the stock. which is if they can show that they can come back with better PR and wins and AI they're gonna. There's more room to catch up on the stock so we we like that perspective and where they're at. and I think Ultimately, what we're hearing through our checks is it and CIO are actually restartings what we bought during the pandemic and you're hearing this from Google and Microsoft.

But in the expert checks, they're starting to ramp back up as we get ready for AI We've taken a break from consumption of public Cloud I think we get back on the public Cloud at Highway way if you will, things re-fire back up in the back half of the year and and that should be good again. The numbers were a little bit better. They weren't weren't phenomenal, they didn't blow it up by any any stretch of the imagination, but the stability. Many investors were braced for a single digit AWS number.

we got low double digit and it feels like the back half of this year will be a lot better for for AWS Yeah, Matt I mean everybody's focused on AWS and then you can also, you know, make the argument about Prime and the consumer. But what about some of the other businesses that Amazon has continued to grow out and are also seemed to be firing on all the cylinders? for example, advertising, or even some of the emerging businesses like Health Care End of day, they're making a play into satellites and connectivity and future communications too. Well, all of these businesses leverage Ai and I. Think that one of the things uh, Brett's right, that's misunderstood about Amazon is that they've been leveraging machine learning and artificial intelligence for you know, decades.

Plus, whether it's shopping recommendations, whether it's Logistics optimization, whether it's minutes, you know, advertising units together, they've got to get out and tell that story better. It's one of their clear weaknesses you know in in areas of improvement. I Guess I should say I Think they are making some progress, but there's a long way to go. Uh, so some of those other businesses are, are you know, really growing nicely? I Think the always is the question of you know, where do you make the tough decisions on resource allocation? Whether that's within stores.

For example, there's a lot of changes happening right now working from the stores all the way back. uh. And there's also areas uh, like advertising where I think they're doubling and tripling down given their success. So I think the resource allocation that the senior leadership team is doing is a good job.

But coming back to the AI specifically, AWS has to figure out a strategy around applications. They don't really have many co-pilots and Microsoft's got tons of those and that's going to be a disadvantage unless they can turn it around. okay. Matt Matt McElwain and Brent Bell Thanks for joining us to talk about Amazon Shares are up seven percent right now.

We're just moments away from Apple's earnings as well, but before those numbers cross, Mike Santoli will give us a long-term looks like the iPhone was first launched. We'll be right back. Well, now we have five minutes to kill. Time's ticking.

Five minutes if you played calls. Congrats to you because things have been looking spicy Hot spicy. as hot as a little tamale there. Um for me I Didn't have a position for any of this stuff, but looks like I'm gonna be looking for some long positions tomorrow.

Uh uh, we'll see how that all goes. My puts are not wrecked but are down 30. Glad I played Small Big big advantages to being able to play small big advantages to be able to play small. Uh.

Matt How's the news on that special thing that you might get? No updates folks. If only you knew the amount of things that were moving in the behind the scenes developments of this show right now. Honestly, you'd probably shit your pants. There's there's two big things going down right now.

one of which you might find out as early as tomorrow. Second of which you might find out as early as Monday I Don't know, man. I Don't know There's there's two big big big things coming down the pipeline. Honestly, career changing? um, life-altering and I'm talking about your lives, not mine.

Your lives might be altered by not one, but two things once again. one as early as tomorrow and the other as early as Monday. Um I Don't know. it feels like that.

That's the earliest you're gonna hear about those two, but it also feels like it's right. like I'm just running some things over in my head. I think I think all everything's signed, everything's confirmed, everything's set up I think it's going to be tomorrow and Monday and the crazy thing is, uh, they they like don't relate to each other at all. just spell it now.

No way you think I'm gonna have oh what was that do you think I'm gonna have that kind of a build up? Um, you think I'm gonna have that kind of a build up and just tell you no, no, I'm gonna make you I'm gonna make you wait for it I'm gonna meet you I'm gonna make you stick around I mean one of them, you might find out tomorrow. So like basically all night. like maybe you're a little anxious, maybe you're up all night like wondering, uh, but you're gonna find out tomorrow and then the other one you're gonna have to wait till uh, potentially Monday potentially Monday I'm excited I'm excited you shop at Target Welcome back to overtime. We are minutes away from Mathways.

Let's bring in Senior Markets commentator Mike Santoli with one more look at the list in 2007, that was the year the first. iPhone Yeah Smooths it out. Uh, as opposed to just doing straight dollar price changes, have these lines drawn in here for a significant interim peaks in the stock over, uh, over the years. So you see this one that was a peak sort of shortly after the first iPhone launch.

Of course, that's also the global financial crisis. and when it came out of that, it didn't look back. right? We crossed above that former Peak and just did not even threaten it again. That's not always the case though.

and you see this sort of major Peak We've had a couple of years into, uh, the mid-2010s and it eventually kind of doubled back to it and sort of tested these levels. So this is the tendency. It's not not bankable, it doesn't always happen, but again, you see it happen here too, right? break out, and then it kind of backed up to it. and even right here as well.

but we haven't seen it. Uh, this time we're at the at the doorstep of about 190 uh, got near 200 on the truck. But it is worth keeping in mind. Even though it seems like it's been this Unstoppable perennial winner, it actually has gone long periods of time when it flattens out and digests these massive gains and underperforms the S P 500 for a period of time.

Of course, it's never been as big in the S P 500 as it is right now. It's well over seven percent of the weighting of that index. Uh, but still Amazon foreclose on the idea that it's not just a a one-way upside trade? Morgan Yeah, and then at least one Trader rating this morning about the fact that you have apple at this kind of key technical coin which is essentially what you're highlighting right now and that it is so important for the broad Market to your point of the S P 500 right now. So as goes: Apple so goes the market potentially DraftKings So the way I think about it is yes, mathematically a great influence is a Bellwether of the broader economy necessarily the path, even though it's going to have an effect on the S P 500 whichever way it it adds the next 10 percent.

It doesn't mean that all other stocks are sponsored by Texas Roadhouse if that happens massively uh, over the years, but can the market continue or maybe even reverse it sort of rock that it's been in for a couple of days. If Apple doesn't go higher is what I'd wonder I would say probably could I mean look Microsoft is 11 or something or got down 10 off. it's high and the overall Market kind of hung in got to interrupt you. it's 4 30.

Apples out. Let's get those results from our Steve Kovac Steve hey there John Yeah, it's a beat on the top and bottom lines for Apple. Let's go over the numbers here. EPS Coming in at a dollar 26, that's versus the dollar 19 expected by the street revenues A beat as well.

81.8 billion dollars versus the 81.69 billion expected. That's not about one percent year on Year by the way, marking the third down quarter in a row for Apple iPhone revenues though a slight miss here. 39.67 billion dollars versus 39.91 billion dollars estimated and services setting a new record Apple Here beat. It's a new record.

What do we do? One billion dollars versus the 20. year and year? So seeing a Resurgence in growth there John on services and no guidance as we've seen from Apple throughout the entire pandemic but expecting uh, some color on the call as to outlook for the current quarter and looks like Shares are up fractionally here about uh, one percent. All right John Back over to you, call back. thank you.

Let's get some instant reaction to those earnings numbers joining us now. Uh, Scott Kessler from Third Bridge and do we have Angela we do Angelo Zeno from Cfra Scott First to you interested? uh Also, uh, it looks like the iPad number was a bit short of expectations for that and the Mac uh was also a bit stronger. Uh, is this good I think it's probably a mixed bag as you were indicating John Uh, people are going to be encouraged by a couple things in the revenue number above expectations. The services number uh was the kind of standout I Think people, uh, have recognized that there are in fact some continuing Hardware uh, headwinds if you will, but people are really focused on the next time.

Uh, coming. perhaps next month? All right Angela Want to get your thoughts on this? Uh with Revenue down one percent although still third straight quarter of Revenue decline although still representing a beat versus consensus. what's standing out to you in this report? New highs on that report? Yeah, listen. I I Think as far as the results are concerns, I mean down one percent year over year was kind of what we expected.

and um, you know, we do expect them to kind of at least implied a return to growth in the September quarter. But yes, um, import June quarter. It is typically the trough of the iPhone cycle anyway, so it just tends to matter a lot less in our view. So it's all about the services.

The max we did expect to actually be stronger than expected. Also, because of some of the the commentary and results we've seen here over the last couple of weeks, and the fact that at least on a sequential basis, it looks like the People's Market is starting to recover slightly. So um, yeah, we're not necessarily surprised by how the quarter actually turned out. Okay, let's get back to Steve Kovac who spoke with Apple CEO Tim Cook and has some of those comments for us.

hi Steve hey there Morgan before Steve's I could be Steve I could be a better Steve Steve is a wannabe mat if you need some white pasty mayonnaise loving four-eyed nerdy Financial freak to read off a piece of paper I could do it I Here we are Uh, welcome to CNBC We are going over to Matt Cores who recently spoke with Tim Apple about this quarter's earnings. what do you have for us? Matt and then I would say this shit right here and yeah I spoke with uh Apple I could hear Tim Cook I could stutter like that uh yeah I uh spoke with Tim Timothy Tim boo Timbo Bob today and he he wanted to let the world know that he's still super rich, back to you in the studio and talk to him a little bit about that Services uh record that they just posted earlier in the year they were talking about these headwinds and advertising and gaming. Uh, here's what you told me about those Trends kind of. Honestly, I think my eyebrows are better than his.

his eyebrows are coming in he has a full head of hair but I have that the the younger leg kind of a thing going on like I think if you just compare me I I demand that Steve and I do a bench off a stair stepper off for his job reversing. Uh, telling me quote advertising has definitely accelerated from before and the app store has definitely accelerated from before. So again, those are two very key components. a high margin businesses for Apple there.

I Also took a chance and talked to him a little bit about Ai and the latest thinking at Apple there. Um, here's what he told me: um, Quote: We've been doing research on AI and machine learning including generative AI for years. Adding later that and we're going to continue investing and innovating and rolling these things out into products that enrich people's lives. Also told me products like The Vision Pro wouldn't even be possible without artificial intelligence and machine learning that they've developed internally.

And finally, I also spoke to him about that Fitch downgrade that we've been talking about all day here on: CNBC Um, he, he's not worried about it telling me Quote: it's not something I'm deeply concerned about. So echoing what we've heard earlier, you know what he might have that I don't is I feel like I would mess up where the quotes are. so like right before the quote. Watch him.

He's like all about the services, the machine learning. uh, that they have developed internally. and finally I also spoke to him about that Fitch downgrade that we've been talking about all day here on: CNBC Um, He: he's not worried about it telling me Quote: it's C right there. he's not worried about it telling me Quote: it's not something I'm deeply concerned about I Don't feel that comfortable with quotes honestly I don't I feel like I spoke with Tim Apple I Asked him about the Fitch downgrade and he told me it's not quote something unquote I'm deeply concerned about I feel like I would mess up where the quotes are.

He said it's something that he's not deeply quote unquote concerned about like I just I'll give Steve One thing you know, game recognized game and I I recognize that Steve knows where is a throw in those quotes I feel like I might actually end up prompting additional issues by putting quotes like on too small of segments like quote unquote where he's concerned about like I I I would end up doing something for comedic effect and it'd probably end up costing someone a billion dollars and I'd probably get fired if we're being honest. It's not something I'm deeply concerned about. So echoing what we've heard earlier today from Warren Buffett and yesterday from Jamie Diamond Morgan All right Uh Steve Kovac thank you uh Scott Kessel I Want to go to you on greater China Here this of the eye, the investor kind of was kind of. Our margins are holding up I haven't had a chance to do the gross margin cut.

this guy fucks Uh. Apple beats soft expectations even by eight percent Services Growth and down we go. Big tree fall hard. the bigger they are, the harder they fall Apple going from 196 to 190.

billions of dollars disappearing from the economy just like that. you know what else needs to disappear this guy because I have a hot date with a guy named Jim G-y-m and I'm gonna stare step the shit out of it. Gonna get these rock hard buns even more rock hard. So one day financial media calls me up and they're like the only guy who can turn this entire media segment around is someone whose buns don't even fit into the prescription khakis we give to everyone who works here.

So until that call comes I need to keep working them out. That's what I have for you for now. We will be posting content later on today. If you don't watch it I will cry in the shower I will be streaming tomorrow morning, but it won't be at 9am.

it'll be at 8 20. potentially 8 25. It depends on what time I get out of bed if I'm being completely honest. Um, there is also a high potential High likelihood of Major Matt Coors Community shaking Earth shattering upward Tipsy Topsy Announcements tomorrow.

High probability of one of two of those big announcements coming down tomorrow. The other high probability is for announcement number two to be on Monday So put that in your little Diaries there and good luck. Sleep in between now and Monday morning. That's what I have for you I appreciate all the Good Vibes I Love you all mucho thank you thank you thank you! You guys make my life awesome I hope I make your life a little bit better.

That's what I have for you now. Posting some content later on this evening and then I'll Show streaming early tomorrow morning so hope you have a good one. Catch you later Peace out Bye Foreign.