23.07.2024 +++ Quarterly season shifts up a gear +++ Goldman-Sachs warns of AI bubble +++ SAP surprises with results +++ Porsche AG lowers forecast +++

There are a lot of quarterly figures today, especially after the close. At Visa $V (-0,8 %)one can be curious. AMEX $AXP (-0,92 %)has already shown last week that the sector is doing well. The other major stocks are also giving us a good look today: Alphabet $GOOGL (-0,81 %), CocaCola $KO (+0,48 %), Tesla $TSLA (-1 %),Lockheed Martin $LMT (+0,2 %), and many more...

VW subsidiary Porsche AG$P911 (-1,01 %) lowers forecasts and now expects an operating return on sales of 14-15% (previously 15-17), sales of EUR 39 to 40 billion (previously 40 to 42), an EBITDA margin of between 23 and 24% (previously 24 to 26). Porsche actually wanted to sell 80% electric cars by 2030. Now, however, Porsche is also adjusting its publicly communicated targets to reality, or more precisely: to the purchasing behavior of customers. "The switch to electric cars is taking longer than we assumed five years ago".

Europe's largest software manufacturer SAP $SAP (-0,71 %)had presented its figures for the

figures for the second quarter after the close of the US stock exchange and, despite a difficult

operating result grew more strongly than expected despite the difficult economic situation.

Analyst Toby Ogg from JPMorgan attested to the Group's decent figures overall in an

figures in an environment that is increasingly under pressure.

Jim Covello believes that AI is a big hype and sees a bad end in store for investors. The Goldman Sachs analyst sees no point in companies investing hundreds of billions of dollars in AI applications. "All the stocks in question will eventually come to their knees." For Covello, formerly the best analyst for tech stocks for many years and Head of Research at Goldman Sachs $GS (-0,72 %) "The advantages of AI are not comparable to those of smartphones and the internet. For him, one thing is clear: AI will not trigger the next economic revolution.

Tuesday: Stock market dates, economic data, quarterly figures

Quarterly figures / company dates USA / Asia

12:00 Spotify | UPS quarterly figures

12:30 General Motors quarterly figures

12:55 Coca-Cola quarterly figures

13:00 Philip Morris quarterly figures

13:30 Lockheed Martin quarterly figures

22:01 Texas Instruments quarterly figures

22:05 Alphabet | Tesla | Visa quarterly figures

No time specified: General Electric | Danaher

Paccar Quarterly figures

Quarterly figures / Company dates Europe

06:45 Logitech International | Kühne & Nagel Quarterly figures

07:00 Hella | Chocoladefabriken Lindt & Sprüngli quarterly figures

07:00 Givaudan | Amadeus Fire | Akzo Nobel quarterly figures

07:30 Alstom 1Q sales

17:45 LVMH Results 1H

18:00 Flatexdegiro preliminary result 1H

Economic data

09:00 DE: ECB Chief Economist Lane, opening speech at ECB/IMF conference
16:00 EU: Eurozone Consumer Confidence Index (flash estimate) July FORECAST: -13.4 previous: -14.0
16:00 US: Existing Home Sales June FORECAST: -3.9% yoy previous: -0.7% yoy

Paul@Westchester

11Mo

He may be right about the (over-)valuation of individual stocks, but the impact of AI will turn some fields of activity within companies upside down and certain AI companies will benefit from this.

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Martin von mit Verstand zum Kapital@MitVerstandzumKapital

@Westchester Some people certainly will. Both positive and negative.

There will be growth, but in the long term will it also correspond to what the markets are pricing in when they hear the word "AI"?

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Tenbagger2024@Tenbagger2024

What is your opinion of the Goldman analyst's statement?

@Tenbagger2024 I think the term AI is very overrated. Every statement is simply given the term AI and everyone leaves. At the moment, it's already very attenuated, but many companies now have to keep it up.

NVIDIA has the advantage that they are so broadly positioned and the competition is still far behind.

In general, however, I think that this journey will come to an end.

@MitVerstandzumKapital
It was the same at the end of the Internet bubble.
Many companies did not deliver what they promised and disappeared. And new ones have emerged.
Many Internet providers have disappeared or been taken over.
That's why I would only invest a small amount in small companies.
The big ones will still be able to survive without AI

@Tenbagger2024 They will certainly survive, but will they be able to deliver what is expected of them in the long term? I think that too much is being priced into share prices too quickly. I've seen a lot since 2008. Above all, at some point it will be "normal", which is currently still leading to surprises and so on. I would definitely also make sure to take a few profits from time to time.

Jan@Barrd

Great post! I think I read that the Danaher numbers are coming in at 2pm! 🙆‍♂️

@Barrd That's right... I'm excited about that too!