Read the full article on Investing.com.
Excerpt:
This week Big Tech has started to report Q4 results and give expectations for Q1 and beyond. These names are typically watched with much anticipation and tend to deliver big beats over analyst estimates (the S&P 500 tech sector had a 92% EPS beat rate for Q3). Still, the recent sell-off in the market has tech investors looking less confident in future prospects.
Thus far, we’ve had better-than-expected results from IBM (NYSE:IBM) and Microsoft (NASDAQ:MSFT). IBM surpassed sell-side estimates thanks to double-digit growth in consulting and cloud revenues. Microsoft also attributed their results to growth in cloud revenues which increased 32% YoY. Tomorrow we hear from Intel (NASDAQ:INTC), and the tech earnings parade concludes with highly anticipated earnings from Apple (NASDAQ:AAPL) Thursday after the bell.
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