To The Moon

Another story of Big Tech driving the broader market. We just saw this story on Tuesday. On 26th July, $Wal-Mart(WMT)$ lowered its guidance and the broader market fell. After the bell $Microsoft(MSFT)$ and $Alphabet(GOOG)$ released earnings that slightly missed expectations but reassured investors and the $NASDAQ(.IXIC)$ jumped 4%. Nasdaq jumped 4% Yesterday, 2Q GDP data was released at -0.9% YoY, below expectations of +0.5%. Stocks began to fall, with Chinese stocks falling more. As of close, most companies closed slightly higher. After the bell, $Apple(AAPL)$ and $Amazon.com(AMZN)$ released their earnings, Amazon jumped 13% and its price has surpassed the previous high of $125. Poster made by Tiger_chat Why did big tech rise although they missed expectations? 1) Market sentiment has improved since last week's 3-day winning streak. 2) The market has priced in expectations that it may miss, and the valuation has fallen before due to the decline, big tech has no more room to fall. 3) Stable revenue and business. But small companies still have room to fall: For example, $Teladoc Health Inc.(TDOC)$ plunged 17%. 1) Under the background of economic headwinds, many companies have not achieved stable profits. Their earnings may disappoint the market 2) Valuation is too high, the share price may fall further Bottom Line Data from tradingview Big tech such as $Tesla Motors(TSLA)$ , $Microsoft(MSFT)$ , $Alphabet(GOOG)$ , $Apple(AAPL)$ all delivered a "not bad earnings" in this earnings season. In the economic headwinds, we can always count on big tech! Do you think big tech is your first pick? Like me and comment here to win tiger coins~