Blog - Mid-Week Stockbits July 31st, 2019

Mid-Week Stockbits July 31st, 2019

Jul 31, 2019

SNAP back strong

Snap Inc. (SNAP) reported its strongest three months as a public company last week. It appears Snapchat seems to be recovering from previous redesign issues and a shrinking download rate. Q2 earnings show that daily user rate has grown 7% from the previous quarter, reaching 90% of the population aged 13-24 in the USA. In April, Snap Inc. released its gaming platform Snap Games in aims to engage users further. Between games and filters, Snapchat aims to continue the growth of users.

Although Snap Inc. has reported a strong three months, they are still losing money, and the share price has yet to reach its $17 IPO price from March 2017. It remains to be seen if Snap Games and filters can drive engagement and in turn, provide profit.

Fortnite World Cup

If you haven’t heard the widely popular battle royale game Fortnite held its first World Cup this past weekend in New York City. The winner (16-year-old Kyle 'Bugha' Giersdorf) walked away with $3 million of the $30 million prize pool.

Why are we telling you this? 40 million players competed in the online qualifiers, 2 million concurrent viewers live-streamed the event, and the 23,000 seat Arthur Ashe Stadium was sold out. This just shows that the e-sports industry is no laughing matter. Games like Fortnite, Overwatch and Apex Legends are pushing the boundaries for e-sports and the industry shows no signs of slowing down. Amazon (AMZN) owned Twitch and Google (GOOGL) owned YouTube provide the top platforms for e-sports stars to rise to fame. So whether you’re still skeptical of the e-sports industry, Fortnite shows that the future of entertainment is already here.

Apple Earnings

Yesterday Apple Inc. (APPL) released Q2 earnings, where the company had strong results. However, the device carrying Apple’s previous financial success now only accounts for less than 50% of sales. The device in question is none other than the iPhone. This is the first time since 2012 that the iPhone has not accounted for more than 50% of the company’s sales. So what is driving sales? Apple’s wearables and accessories business has surpassed the iPad business and is now almost the size of the Mac division. The three products seemingly driving this success are the Apple Watch, AirPods and HomePod. Apple has not given up on the iPhone yet however, purchasing Intel’s (INTC) 5G technology to begin making the 5G chips in house for future generation iPhones. The 5G market is only set to grow as companies and cities expand cellular capabilities.

Speaking of 5G…

Siyata Increases Worldwide Reach

Siyata Mobile (SIM.V) continues to increase its worldwide reach striking a deal to equip government vehicles in Australia with CP250 in-vehicle cellular device as part of a Cellular Vehicle-to-Everything (C-V2X) pilot program.

Marc Seelenfreund, CEO of Siyata Mobile, states, “C-V2X is a worldwide, game-changing technology to improve the safety of travellers and pedestrians while reducing congestion and carbon emissions. Analytics from CV2X are immensely valuable in the building of smart cities and our CP250 provides the required hardware, software, and cellular network, an all-in-one device which makes it highly relevant to both the commercial and non-commercial vehicle market.”

This news is the latest in purchase orders adding to the previous deals in Saudi Arabia, Canada, Israel and the USA.