Microsoft Kicks Off Tech Earnings Set to Slump Most Since 2016

Bloomberg2023-01-22

Tech companies are cutting costs into crucial reporting seasonAnalysts have slashed earnings estimates on sector for months(Bloomberg) -- US technology stocks are about to hit their next hurdle when ...

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Jason_LSE
2023-01-23
Jason_LSE
Ok
Chris68
2023-01-23
Chris68
👌
LimBT
2023-01-23
LimBT
Ok
AlanChong
2023-01-23
AlanChong
Ok
ericbqlee
2023-01-23
ericbqlee
😊
天天有錢賺
2023-01-23
天天有錢賺
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The danger for investors, however, is that analysts still prove too optimistic, with demand for the industry’s products crumbling as the economy cools.“Tech is driving a lot of the overall earnings recession that we’re seeing in the S&P,” said Michael Casper, an equity strategist with Bloomberg Intelligence. “While there’s a lot baked in, depending on if this recession does emerge and how badly it occurs, there is certainly some negative revision risk for the sector still.”Firms including Texas Instruments Inc., Lam Research Corp. and Intel Corp. also report next week. Apple Inc., Alphabet and other behemoths announce the week after. The group has huge sway over the path of the overall market, with info-tech accounting for more than 25% of the S&P 500’s market capitalization.Fourth-quarter earnings for tech firms in the benchmark are projected to drop 9.2% from the same period a year earlier, the steepest slide since 2016, data compiled by BI show. 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