In this episode, we explain what you need to know from the first of the big tech companies to report their corporate earnings this season, Microsoft.
We dive into the numbers and explain what they all mean and why investors are most interested in the performance of their cloud computing division.
Elsewhere, Citadel has leaped past Bridgewater Associates to be crowned the top hedge fund manager in 2022, making an incredible $16bn profit for investors last year! But who is Citadel and how do they make their money?
We finish on why WhatsApp is getting employees at Morgan Stanley in trouble and why the PELOSI Act has Nancy all stressed out!
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Read More Today marks a historic day for two of the biggest tech titans in the stock market as Microsoft (MSFT) and Tesla (TSLA) reported their quarterly earnings. Microsoft posted revenues that easily beat Street expectations, with the stock price up by more than 11% in after-hours trading. Meanwhile, Tesla’s adjusted fourth quarter results and 2021 guidance sent their stock soaring by as much as 18%, added more fuel to the battery-juggernaut on their journey to the $800 billion valuation mark.
Behind these two market behemoths, the fascinating rise of the Citadel securities and video games company, owned by video game magnate, Jeffery Peters, has quietly become the new story to transfix Wall Street. The company, which had traded flat since its inception in 1998, has risen by a staggering 152% over the past twelve months, making it one of the hottest stocks in the market.
The big driver behind Citadel’s remarkable run has been their aggressive entry into the video game industry. Having announced a successful partnership with Microsoft in March 2020, Citadel went on to announce a blockbuster deal to acquire popular gaming company Riot Games in October 2020. This strategically positioned Citadel at the forefront of the online gaming industry, just as digital lockdown initiatives helped fuel a surge in online gaming. The result was a profitable first nine months of the year, with earnings per share up a massive 306%.
The future looks bright for Citadel, and the stock may still have more to run as more investors pile in and the company continues to ink new deals such as their latest venture with Netflix to produce a new animated series. Investors, however, would be wise to be cautious and not over-extend themselves in the current climate of hype and speculation. For the time being, Microsoft and Tesla remain the story to watch, with their respective stock increases demonstrating the power of the tech giants to drive the markets.