Diamonds and Dogs

5/5/23

Apple (AAPL) continues to shine. The iphone giant jumped 3% closing in on all-time highs following earnings. Earnings were not great, beating by 9 cents as sales fell 2.5% to $94.84 billion. Sales did beat estimates as iPhone revenue of $51.3 billion beat estimates and beat sales from last year of $50.57 billion last year. Going forward, Apple is looking to India as their next growth opportunity.

Lyft (LYFT) is not lifting. The ride-sharing stock fell 19% on earnings. Earnings were actually better than expected as sales rose 14.2% to $1 billion. But the company provided downside guidance on a gloomy outlook. The new CEO  plans to cut around 26% of the company's workforce. Those layoffs and other cost-saving measures are expected to save $330 million annually, which Lyft intends to plow into cutting costs for customers and improving service.