1Q25 Earnings Updates: Part Two – Apple, Disney, Nexstar, Sony, Walmart, and Home Depot

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Apple (AAPL): AAPL reported inline results for the company’s 2Q25. Management noted little impact from tariffs, which is no surprise given the bulk of the tariff challenges emanate from the April 2nd announcement. In 2Q25, revenue grew 5%, operating income grew 6%, and EPS grew 8%. These modest growth rates are where AAPL sits now […]

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1Q25 Earnings Updates: Part One – IBM, GOOG, TMUS, META, and VICI

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IBM (IBM): IBM reported better than expected 1Q25 results and maintained guidance for 2025.  However, the mix of underlying datapoints disappointed investors and the shares are trading down more than 5%. We think the decline is overdone and partially related to the excellent performance of IBM over the past 12 months.  Expectations were elevated and […]

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