With little fanfare, Telus (TU) declared a dividend of CAD 0.1875 per share. That represented a dividend cut of over 50%, more than markets expected.
The Canadian telecom reported long-term debt of $30.23 billion. It had $1.387 billion in cash. To preserve its remaining cash, it needed to lower its dividend. The firm will need several quarters to unlock growth in Telus Health and Digital.
Reddit (RDDT) fell by nearly 21% on July 31, after it posted GAAP EPS of $1.25. Revenue increased by a solid 61.0% Y/Y to $805 million. Gross margins are healthy at 90%. On its way to $100 billion in revenue within the next few years, investors are so certain.
Short-sellers hold a 12.39% short interest against RDDT stock.
Apple (AAPL) is the only Magnificent 7 firm with minimal AI-related capital expenditures. In June, markets feared that its 25% price hikes would hurt demand. But to offset soaring memory costs, Apple needed to also raise its cloud subscription rates.
In the quarterly report, Apple offered guidance that did not meet shareholder expectations. Significant memory price increases will likely increase the retail price for the iPhone 18 Pro and Pro Max.
AAPL stock trades at a premium, at a 30x forward P/E (based on FY 2027 earnings). With no advanced in-house AI like Microsoft (MSFT), Tesla (TSLA), or Meta Platforms (META), look out for Apple stock pulling back further.
