Alphabet, Tesla Kick Off Magnificent 7 Earnings
Two of America's vaunted "tech" septet reported quarterly results after the bell on Tuesday.
Three months on from introducing a first-ever dividend and hiking buybacks, Alphabet said revenue grew 14% YoY (15% ex-currency impact) to $84.74 billion, ahead of estimates. The Street was looking for $84.35 billion.
The company returned to double-digit top-line growth in Q3 of last year after sales growth nearly flat-lined towards the end of 2022.
The ex-TAC print, at $71.36 billion, was likewise
Tesla is in between a growth wave and a CEO that made a fortune off of greenies and government subsidies, and then decided it’s time to go full nut job, and turned on both.
My wife bought a Model Y, just before Musk went down the rabbit hole. It’s the last Tesla we will ever buy. I doubt we’re alone in that sentiment, so that might be something Wall Street keeps an eye on. I doubt the ‘drill baby, drill, roll’n coal” crowd is going to make up the difference.
Now if you’ll excuse me, the MAGA mobile needs another cover thrown over it. SHAME!
Honestly, I wouldn’t let his politics stop me from buying a Tesla except for the fact that it’s collecting data about my whereabouts, and so on, and he’s (allegedly, according to The New Yorker) been on the phone with the Kremlin at least once since the war started without telling the State Department about it first. If true, that’s the kind of thing (random chats with the Kremlin) that seems bizarre to me, and it’s why I worry about him having NASA contracts, and giving people brain implants and so on. But hey, I bought the stock in April. I’m perfectly willing to invest in Musk’s genius and his companies. I just wish he’d reconsider whether, perhaps, he’s gone a little too far with the red pill stuff.
Fair enough and good points.
I’m done with Musk’s marketing ploys though, and minimally, if I owned shares, I’d be concerned that Musk is putting his interests ahead of the investor’s. Sounds like an Orange Man I know that puts his interests ahead of everybody’s.
Never-Tesla buyer here.