A few quotes from Powell's post #FOMC November Conference:
1. On rate increases:
"At some point..it will become prudent to slow the pace of increases. There is significant uncertainty around that level of interest rates. Even so, we still have some ways to go"
"What I'm trying to do is make sure our message is clear, which is we think we have a ways to go. We have some ground to cover with interest rates before we get to that level of interest rates we think are sufficiently restrictive"
"Has it narrowed? Yes. Is it still possible? Yes. We've always said it was going to be difficult. I think to the extent rates have to go higher and stay higher for longer, it becomes harder to see the path. It's narrowed" - Powell
4. Why has the window narrowed?
"Because we haven't seen inflation coming down..what we would expect by now to have seen is that really as the supply side problems had resolved themselves, we would have expected goods inflation to come down by now..It really hasn't"- Powell
5. Too premature to discuss pausing:
"So I would also say it's premature to discuss pausing. It's not something that we're thinking about. That's really not a conversation to be had now. We have a ways to go" - Powell.
6. Consumer spending still good:
"Consumer spending is still positive. It's at pretty modest growth levels. It's not shrinking. But the banks that deal with retail customers and many retailers will tell you that the consumers are still buying, and they're still fine"
7/7 In summary:
"We still have some ways to go and incoming data since our last meeting suggests that the ultimate level of interest rates will be higher than previously expected...We have a ways to go" - Powell
• • •
Missing some Tweet in this thread? You can try to
force a refresh
Key Quotes from the Alphabet [@Google] Q2 2024 Earnings Call:
1. Solid Quarter Overall:
"For the second quarter, our consolidated revenues were $84.7B, up 14% or up 15% in constant currency. Search remained the largest contributor to revenue growth" - CFO
@sundarpichai @finchat_io @TrinityAssetMan @carlquintanilla @SamRo 2. On integrating AI into Search:
"We are pleased to see the positive trends from our testing continue as we roll out AI overviews, including increases in search usage and increased user engagement" - CEO
$GOOG $GOOGL
3. YouTube is growing nicely:
"YouTube advertising revenues of $8.7B were up 13%, driven by brand followed by direct response advertising...We had healthy watch time growth continued to close the monetization gap in Shorts & had continued momentum in Connected TV"
"think of a stock; it's a time series...it has a value every day, it goes up, it goes down. You can analyze time series mathematically, and especially if you have hundreds or thousands of these time series, you can compare them & so on"
3. On why he never hires investment industry people:
"You can teach a physicist finance, but you can’t teach a finance person physics...we wanted smart scientists & we had some astronomers, we had some physicists, we had some mathematics people & they would learn the business"
Key Quotes from Apple [@Apple] Q1 2024 Earnings Call:
1. Finally some growth:
"Apple is reporting revenue of $119.6B for the December quarter, up 2% from a year ago despite having 1 less week in the quarter" - $AAPL CFO
@DisruptorStocks @carlquintanilla @LeoNelissen @SamRo @ConsensusGurus @eWhispers @EarningsScout 2. On growth in services revenue:
"Services revenue set an all-time record of $23.1 billion, up 11% year-over-year. When we take into account the extra week last year, this represents a sequential acceleration of growth from the September quarter"
3. On growth in Mac sales:
"Mac generated revenue of $7.8B & returned to growth ...This represents a significant acceleration from the September quarter when we faced a challenging compare due to the supply disruptions & subsequent demand recapture we experienced a year ago"
"...I picked ~25% ...not so much that I can control the company. but it's enough that I have a strong influence...what I'm aiming for, is a strong influence, but not control" - @elonmusk
@Tesla @teslaownersSV @WholeMarsBlog @ConsumeOwnTech @finding_value_ @ChrisBloomstran @Prof_Kalkyl @john_bresnahan @SamRo 2. Fremont factory is the highest output car factory in North America
"...we made 560,000 cars. This is a record. In fact, it's the highest output of automotive plants in North America..the highest output car factory in NA is in the San Francisco Bay area" - $TSLA
3. Tesla CEO @elonmusk when asked about margin expectations:
"If the interest rates come down quickly, I think margins will be good. And if they don't come down quickly, they won't be that good"
Key Quotes from the Tesla [@Tesla] Q3 2023 Earnings Call:
1. On AI
"in the long term, [it] has the potential to make Tesla the most valuable company in the world by far...The Tesla AI team is actually by far the world's best when it comes to real-world AI" - @elonmusk
$TSLA
2. On the Tesla Cybertruck:
"It's an amazing product. I do want to emphasize that there will be enormous challenges in reaching volume production with the Cybertruck and then in making a Cybertruck cash flow positive" - $TSLA CEO @elonmusk
3. On Q3 results:
"our Q3 operational and financial performance was impacted by planned downturns for our factory upgrades. This was necessary to allow for further factory improvements and production rate increases."
"Today, we are reporting a $134 4 billion in revenue and $7.7 billion and operating income both of which exceeded the top end of our guidance ranges" - $AMZN CEO @ajassy https://t.co/eYnwUfygHC
"we started seeing more customers shift their focus toward driving innovation and bringing new workloads to the cloud. As a result, we've seen AWS's revenue growth rates stabilized during Q2, where we reported 12% YoY growth" -$AMZN CFO
3. On Amazon, AWS & AI:
"Inside Amazon, every one of our teams is working on building generative AI applications that reinvent and enhance their customers' experience" - $AMZN CEO @ajassy