The year that was. We check out how Big Tech Companies apple and facebook fared in 2019 and how each is set up for the new year. We begin with a look at tech in the markets, most notably, semiconductors. We see that chipmakers bottomed out nearly a year ago and have been on a riproaring rally since then. Micron adding to that sentiment, as the Company Reported firstquarter earnings wednesday. Micron impressed wall street with a strong outlook of between 4. 5 4. 8 billion dollars in revenue. Shortly after the Company Reported, i got insight from Wedbush Securities analyst matt bryson, who joined me on the phone after the analyst call. Matt they are seeing tightness in certain areas. Also, they are calling the bottom for memory in general. They think this Current Quarter is going to be the bottom of the cycle. That fits with the tightness in certain areas. And very much parallels the guidance they gave for gross flat margins, which suggests that prices are normalizing finally. Does this
Maybe you dont care but you do care about the american economy. And boeings news impact us all. We tell you whip process then apple hitting the alltime high today, three analyst have three different takes on the same stock. Well find out who the traders believe is right all that as we begin with an earning alert on fedex not good. Fedex stock down again, missing on earnings and revenues lets get back to eric chemy at cnbc hq with more on the fedex flop. Thats right a disappointing quarter for fedex. Ceo fred smith acknowledged in the release that the fiscal 2020 is a yeerd of continued significant challenges and changes. The the company missed on top and bottom lines setting weak Global Economic cannibus, increased fedex ground costs, the loss of busy from amazon, shift to lower yielding services pb, no competitive pricing environment and late Holiday Shopping season. Looking ahead, the company reduces guidance to reflect lower than expected revenue and higher than expected expenses. F
Companys ceo as it also gets ready to report after the bell speaking of earnings, it is the busiest week of Quarterly Results, nearly onethird of the s p 500 and 20 of the dow are reporting. F apple and amazon lead the way this week. Lets begin with tesla, rallying in the premarket today, following musks visit to china. The company, winning approval to roll out its full selfdriving technology in that country, jim. This is a partnership with baidu, being called a watershed moment for fsd you need to have i remember when i rode in a waymo, which is googles product, you had to have the google map you just need this infrastructure in order to be able to make it. It was obviously being withheld. Is it worth 22 points . I think that people were short tesla, betting there had to be more lets say, more earnings problems i mean, theres an evercore piece, lowering price target, that was probably prechina. But david, there is a sense among the companies that make selfdriving that theres this holy
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