Earnings Report: April 26, 2023

 Wolfspeed, Inc. (WOLF)- Wolfspeed is one of my smaller holdings and the main reason I invested in this company is the competitive advantage. The company is leads the market for worldwide adoption of its Silicon Carbide and gallium nitride (GaN) technologies. I want to note that this investment carries a lot of risk with it as the company has been very volatile from the beginning. I am holding this for the long-term with hopes that the company will keep up its innovation and maintain the market lead. The quarter did not look too bad, however the margins looked to slim down a little bit. The company also reported a loss. The outlook was pretty weak in my eyes. However, the revenue target for FY 2024 would assume some nice growth if they are able to execute their ramp plan. Wolfspeed is trading lower in the after hours, but I am not too worried. I am not going to add, I am going to hold my position and keep following closely.


Meta Platforms, Inc. ($META)- Meta is absolutely soaring in the after hours as the stock beat on both the top and bottom line estimates. I decided to scoop up some shares a couple of quarters ago, when the shares were looking like doomsday. Let me say that it has paid off huge. I am thrilled about what the company is doing and look forward to seeing what the future holds for them. To drill down into the press release, it looks like the company has successfully competed the layoffs they said they were going to perform. I want to point out that Meta is a beast when it comes to ad revenue. While other companies are struggling with ad revenue numbers, Meta seems to be knocking it out of the park. The daily and monthly user numbers were all really strong. I think they are struggling in the Reality Labs segment as they see losses continuing to increase in the coming years. I think this is a safe sock to hold right now, or at least that is what I am doing. I would see how these earnings play out and get some more clarity because I think people are hyping these earnings up a little too much. I am long META.


ServiceNow, Inc. ($NOW)- ServiceNow is trading lower in the after hours after reporting earnings after the closing bell this afternoon. The company is known for its cloud-based platform that helps digitalize and unify organizations so they can make work flow more efficient. The company saw a 20% YOY growth in customers. I think what is impressive is that the company has a retention rate of 98% . The company had a release in Utah that seem optimal for the company’s success as they look to get into AI and RPA. They have also partnered with AT&T for a new global Telecommunications Network Inventory product. I can't tell you the exact reason in why the company is trading lower, but I feel like this company is going to be the leader in enterprise solutions one day. I would buy this stock hand over fist.


Stay tuned for more earnings coming out!

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