With inflation in the United States reaching its highest level in 40 years in 2022 and increasing fears of an economic recession and rising interest rates, the earnings
results of many American companies during the fourth quarter of the previous year exceeded analysts' expectations, and among the most important companies
that announced their results:
Tesla:
After Tesla’s stock suffered the largest annual loss in 2022, Tesla achieved positive fourth-quarter results that exceeded analysts' expectations. Revenues of $21.3
billion were reported, a 33% increase year on year, compared to expectations of $24.16 billion. Earnings per share of $1.19 versus $1.13 expected. In addition, CEO
Elon Musk stated that the company may be able to produce 2 million cars this year, which is expected to increase demand for Tesla cars.
Technically: the stock succeeded in breaching a downtrend line in the short term and is now attempting to target the important resistance area near $208, we will
monitor its ability to target it.
(Figure 1): Tesla Stock, Trading View
Microsoft:
For the first quarter of the fiscal year 2023, the company's total revenue grew by 11% year-on-year to reach $50.12 billion, compared to an expected $49.61
billion, and the company achieved earnings of $2.35 per share, compared to an expected $2.30. The company expected revenues to grow during the second
quarter of the fiscal year by 2% to reach $52.35 billion.
Technically, the stock is still in a downtrend and is attempting to break through the significant resistance area near $265.Analysts expect a positive performance
for the stock if it is breached.
(Figure 2): Microsoft Stock, Trading View
Netflix:
The number of global Netflix users increased by about 7.66 million during the fourth quarter, compared to expectations for a 4.5 million increase, and the
company achieved revenues of $ 7.85 billion, an increase of 1.9% year on year, with a profit of 12 cents per share.
Technically: the stock succeeded in breaching the important resistance area near $340, and now levels near $397 are considered the most important resistance
for the stock's movement, and we will monitor its ability to target it.
(Figure 3): Netflix Stock, Trading View
JP Morgan:
The largest bank in the United States announced profits and revenues that exceeded expectations during the fourth quarter, as interest income increased by 48%
as a result of higher interest rates in 2022, in addition to loan growth, with revenues of $ 35.57 billion, an increase of 17% on an annual basis, with expectations
of $ 34.3 billion, and the bank's profits increased by 6% year on year to reach $ 11.01 billion, with earnings of $ 3.57 per share.
Technically: The stock has been trading in an upward trend since 2016, and levels near $145 are currently important resistance levels. We'll keep an eye on how
the stock reacts to those levels.
(Figure 4): JP Morgan Stock, Trading View
Bank of America:
Bank of America announced better-than-expected fourth-quarter earnings. Revenue exceeded Wall Street estimates. The bank generated $14.7 billion in net
interest income, up 29% year-on-year. This rise was due to higher interest rates and loan growth in the fourth quarter.
Technically: the attached chart shows the importance of levels near $38.5, which the stock is attempting to reach, We will monitor how the stock will deal with
those levels.
(Figure 5): Bank of America Stock, Trading View
Waiting for technology companies to announce their results for the fourth quarter this week, as Meta, Apple, Amazon, and other companies will announce their
results this week.
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