Traders' Insight: Not All of Big Tech Posted Magnificent Results for Q4

Read the full article on IBKR Trader's Insight.

Excerpt:

  • Some big tech results fizzled, but there were two standouts last week
  • Nine S&P 500® companies have outlier earnings dates this week – MCD, IEX, EW, MAA, MCK, HSY, COP, TROW, CTLT
  • 1,558 companies expected to report during the second peak week of the Q4 season

Did Meta and Amazon Just Save Earnings Season?

Big tech earnings kicked off earnings season last week and not all of the results were so magnificent. Alphabet (GOOGL) and Microsoft (MSFT) got things started on Tuesday, and while both surpassed top and bottom-line expectations, it wasn’t enough for investors. Weak advertising revenues for GOOGL resulted in a nearly 6% stock price decline in the wake of the report,[1] and light guidance from Microsoft also didn’t go over well with investors.[2] Given the momentum tech had into these reports and rich P/E levels, investors were less willing to forgive minor stumbles. The same went for Apple which reported disappointing revenue from China on Thursday, the stock fell over 5% in the hours after the report before climbing back on Friday.[3]

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