Motley Fool Money New Stock Highs, Supply Chain Woes, and Big Tech Insights
Sep 24, 2021
Jon Fortt, CNBC host and expert on big tech, dives deep into the latest trends in the tech industry. He discusses Facebook's ongoing controversies around user safety and privacy. Fortt also shares insights on Amazon's leadership transition under Andy Jassy and what it means for investors. The podcast highlights the challenges facing Nike and FedEx due to supply chain issues while celebrating Costco's impressive fiscal performance. Additionally, we learn about WeWork's journey toward a public offering and what that could signify for the flexible workspace market.
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Nike's Supply Chain Struggles
- Nike lowered its 2022 guidance due to global supply chain problems impacting their business more than anticipated.
- Their Q1 profits were higher than expected, but revenues fell short, and shares dropped 6%.
Adobe's Record Revenue and Market Reaction
- Adobe achieved record revenue with Q3 profits exceeding expectations, yet their stock dipped 5%.
- Management's mention of "seasonality" as a potential headwind may have spooked investors despite the strong performance.
FedEx's Earnings Miss
- FedEx's Q1 profits missed expectations, leading to a 10% stock drop and lowered fiscal year guidance.
- Labor shortages and increased costs, impacting margins and holiday season outlook, are key concerns.