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Apple Rises, Roblox Plunges, Reddit Gains on Continued Ads Growth
Description
On this episode of Stock Movers:
-Apple (AAPL) shares rise. Apple delivered a strong revenue forecast for the third quarter, with sales expected to rise 14% to 17% in the period. The company warned that memory-chip costs will increase and that shortages of Mac computers will persist for “several months.”
-Roblox (RBLX) shares fall. Roblox shares plunged after the company reported fewer daily users in the first quarter than analysts expected due to safety features it implemented. Roblox lowered its forecast for full-year bookings, attributing the change to its “aggressive push to enhance safety”, and projected another quarter of user declines.
-Reddit (RDDT) shares rise. Reddit projected sales in the current period that surpassed Wall Street estimates, continuing a streak of strong revenue growth powered by the company’s surging advertising business.
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