GameStop is having a wild week that has little to do with the video-game market. The largest video-game retailer's stock value has exploded, from around $US40 on January 20 to over $US360 on January 27.
Look, I get it that a bunch of Reddit traders chasing a multi-billion dollar hedge fund out of the stock market is hilarious. But there's something much darker going on here.
Apple set a new record during its fiscal first quarter with $US111.4 billion in revenue. Apple reported $US65.6 billion in iPhone revenue in the three months following the iPhone 12's October release.
Facebook on Wednesday reported $US28.1 billion in Q4 revenue, beating expectations of $US26.4 billion. Facebook said monthly users grew to 2.8 billion, versus 2.76 billion expected by analysts.
Tesla reported its earnings for the final quarter of 2020 on Wednesday afternoon. Elon Musk's automaker missed Wall Street's earnings expectations by about 20%.
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