Tech had a good night in the reporting category. The four primary tech companies all saw their shares increase by more than 10% in after-hours trading. While these companies were not taken out to the woodshed, we’re not out of the woods just yet.
Takeaways:
- Amazon’s quarter wasn’t as good as the after-hours stock performance would suggest. It’s an open question about what the growth rate will be in 2022. Regardless of how 2022 turns out, AMZN is going to be a winner.
- Snapchat, Pinterest and Unity showed that the smaller cap can have good quarters too.
- Circling back to Facebook results, we discuss the theory that Zuckerberg is trying to build some space between himself and D.C. Perhaps the market took Zuckerberg’s bait, but the real question is: Will Washington?