The Federal Reserve (Fed) concluded its first interest rate decision-making meeting this year and announced that the interest rate policy will remain unchanged and maintain the asset purchase speed, but warned that the US economic recovery will slow down. US stock futures fell on Thursday (27th) and Dow Jones futures fell 0.56% , S&P 500 futures fell 0.80%, and Starck 100 futures fell 1.20%.
1. The Fed maintains near-zero interest rate asset purchases unchanged
The US Federal Open Market Council (FOMC) announced the latest interest rate resolution on Wednesday (27th), maintaining near-zero interest rates and unchanged asset purchases, but warning that the US economy is slowing.
The Fed reiterated that it will maintain the federal funds rate unchanged from 0% to 0.25% and continue to purchase at least 120 billion yuan a monthUSD“Until substantial further progress is made in achieving the FOMC’s maximum employment and price stability goals.”
The Fed stated that the new crown pneumonia epidemic is causing huge human and economic difficulties in the United States and around the world, and the US economic recovery is slowing down, and reiterated its commitment to use all available tools to support the economy during the new crown epidemic.
The new crown epidemic in the United States continues to heat up, and the number of non-agricultural employment in the United States (last year) decreased by 140,000 in December, the first decrease since April last year, which was far below market expectations. US retail sales fell again in December, shrinking for the third consecutive month.
2. Apple’s Q1 revenue broke through 100 billionUSD
Apple (AAPL-US) In the quarterly earnings report including the launch of iPhone 12, the performance far exceeded Wall Street expectations, and the single-quarter revenue exceeded 100 billion for the first time in historyUSD, China’s sales surged 57%, and CEO Tim Cook described China’s ability to upgrade as the strongest over the years.
Apple still hasn’t released financial forecasts, but it predicts that the growth of wearable devices, AirPods and service businesses will slow down, and revealed that Mac, iPad, and iPhone 12 Pro sales have encountered “supply bottlenecks.”
On Wednesday (28th), Apple released its financial report for the first quarter of fiscal year 2021 (ending on December 26) after the market, with annual revenue increasing 21% to 111.44 billionUSD, Net profit increased by 30% annually to 28.76 billionUSD, Equivalent to 1.68 per share USD, Are better than the market expected.
Various departments performed strongly, with iPhone revenue increasing by 17% annually and nearly 6 billion higher than expectedUSD, Reflecting the hot sale of new 5G machines.In response to the market’s focus on sales in China, Cook said that the overall performance was strong. “The replacement and upgrade set a record in China.” Preliminary data shows that China’s revenue increased by 57% to 21.31 billion in the quarter.USD。
3. Facebook’s financial report is better than market expectations
Facebook (FB-US) On Wednesday (27th) the fiscal fourth quarter financial report for the 2020 fiscal year was better than Wall Street’s expectations. Facebook warned that Apple’s iOS 14 policy changes and the reversal of the epidemic trend may harm the advertising business, but the first half of the year can still maintain better performance than last year.
Facebook stated that the epidemic has increased people’s online activities and will drive the development of Facebook’s e-commerce and products in 2020. However, these trends may ease or reverse, and “may become a stumbling block to the growth of Facebook’s advertising revenue.” Facebook also said, Although the revenue in the first half of the year can maintain its annual growth, it will face growth pressure in the second half of the year.
Facebook also warned that Apple’s new privacy policy in iOS 14 may affect Facebook’s ability to place ads on users, and may start to have an impact on the advertising business at the end of the first quarter. After Apple updated the software this time, iPhone and iPad users can click on whether to allow ad tracking and share information. It is expected that most users will refuse to track.
4. Tesla Q4 is less profitable
Tesla (TSLA-US) On Wednesday (27th), the first financial report since joining the S&P 500 was announced after the market. The profit in the fourth quarter was not as good as expected. Although it was the sixth consecutive quarter of surplus, the after-market stock price fell by more than 6%. The growth of annual delivery volume accelerated, and the decline converged to about 4%.
Tesla expects, “In the multi-year development prospects, we expect the annual growth of the annual delivery volume of more than 50%.” Tesla expects the growth of the delivery volume in 2021 to accelerate.
Tesla’s gross profit margin in the fourth quarter of 2020 reached 19.2%, the lowest level since the last quarter of 2019, as the average selling price of vehicles dropped by 11% from the same period last year.Capital expenditure here reached 1.15 billionUSD。
Tesla also announced 2.79 billion free cash flow that yearUSD, Compared with 1.08 billion free cash flow in 2019USDThe level has doubled.
5. Colin’s Q2 revenue is bright
Semiconductor equipment manufacturer Colin R & D Lam Research (LRCX-US) On Wednesday (27th) announced that the financial report for the second quarter of the fiscal year was better than Wall Street’s expectations, and it is expected that the company’s prospects will be stronger than expected due to the fact that the chip foundry invests heavily in new equipment at the time of capacity constraints.
Colin Q2 revenue was 3.456 billionUSD , Higher than market expectations of 3.34 billionUSD， For net profit 869.2 billionUSD, The gross profit margin is 46.6%. EPS reached 6.03 after non-GAAP dilution USD, 5.72 higher than expected USD。
Tim Archer, Chief Executive Officer of Colin, said, “The long-term strong demand for semiconductors has pushed up the expenditure of wafer manufacturing equipment. Colin will continue to grow into 2021 and expand our leadership in the entire market.”
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