August 11, 2022

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Tech corporations gear as much as report earnings subsequent week

Tech corporations gear as much as report earnings subsequent week

Yahoo Finance’s Emily McCormick previews the tech corporations set to report earnings subsequent week, together with Apple, Google, and Microsoft.

Video Transcript

BRAD SMITH: Right here with a preview of the businesses that we’ll hear outcomes from and steering as effectively, Emily McCormick, Yahoo Finance’s personal. So Emily, let’s run by way of the largest gamers which can be on the radar as we go into subsequent week.

EMILY MCCORMICK: Effectively, as you talked about, when you thought this previous week was busy for earnings, buckle up as a result of subsequent week goes to be probably the most jam packed of this primary quarter reporting season, each when it comes to the variety of corporations reporting, in addition to their market cap within the S&P 500. Now, in whole, about 175 S&P 500 elements, together with greater than a dozen Dow corporations, are scheduled to report their first quarter outcomes subsequent week.

And for a fast overview of a number of the main names, you may see lots of them there in your display screen. A lot of the motion goes to be in the midst of the week with Alphabet, Microsoft, and UPS reporting on Tuesday, Boeing, Meta Platforms, and Qualcomm reporting Wednesday, and Twitter, Roku, and Apple reporting on Thursday. So, once more, that is actually going to be the essential week to look at for these development and mega-cap tech shares, particularly.

Now we had a little bit of an inauspicious begin to tech reporting season this previous week. Netflix, after all, was an enormous disappointment with these subscriber losses. And Snap, Snapchat’s mum or dad firm, was additionally a bit disappointing and reported a quarterly loss and barely under consensus income. Now, lots of Netflix’s issues had been firm particular, however with Snap, a miss does generally spook traders taking a look at different ad-driven tech corporations, like a Google or Meta Platform with Fb.

Now, Twitter additionally falls into this class. That is additionally going to be an attention-grabbing one to look at on Thursday, given Elon Musk’s continued curiosity in buying and taking on this firm. So we’ll see whether or not these corporations are in the end capable of clear a lowered bar for earnings. Now, we also needs to notice that almost all of those massive tech corporations are up to now underperforming the S&P 500 up to now this yr, a far cry from how they’d as soon as led the market prior to now few years. So actually, once more, a lowered bar right here once we take into consideration these tech names and probably one which we’ll see cleared or not within the subsequent coming days. Guys.