It’s not a sympathy drop. That guidance was pretty brutal. Demand being significantly impacted in China due to Covid lockdowns as well as a $4-$8 Billion loss due to supply constraints with no official guidance being given. Tons of uncertainty.
It’s why I was saying Amazon earnings while Apple’s numbers are going to be key reports. Both were bad.
I’m staying away from FAANG. Think they have one more leg down. Netflix and Facebook may be near bottoms. I nibbled on some Netflix around $190. It’s really cheap right now even with bad guidance. I just don’t trust Facebook or it’s core group of consumers.