Warning: mysqli_query(): MySQL server has gone away in /home/hifinewsinfo/public_html/wp-includes/wp-db.php on line 1924

Warning: mysqli_query(): Error reading result set's header in /home/hifinewsinfo/public_html/wp-includes/wp-db.php on line 1924
قالب وردپرس درنا توس
Home / Business / Big Tech’s results are in the spotlight after the congressional bruise

Big Tech’s results are in the spotlight after the congressional bruise

(Reuters) – Four large U.S. technology companies in the United States, which account for nearly a fifth of the total S&P 500, will report results at the Blue Congress’ bruises on Thursday to investigate alleged abuses of their global dominance.

FILE PHOTO: The Amazon, Apple, Facebook and Google logos are displayed on a combined photo from Reuters files. REUTERS / File Photos / File Photos

This will be the first time Apple Inc. (AAPL.O), Amazon.com Inc (AMZN.O), Alphabet Inc (GOOGL.O) and Facebook Inc (FB.O) to publish financial results on the same day and investors are asking if they can provide enough to extend the meeting, which has been crucial since Wall Street’s March recovery.

The alleged winners “stay home” when millions of Americans were ordered indoors to contain the COVID-19 pandemic. Shares of big technology players have raised record highs at a time when the S&P 500 .SPX benchmark is above 1% a year.

But with many Apple stores still closed and Amazon’s e-commerce costs rising sharply, there are questions, and some on Wall Street claim that stock prices for all four have been inflated above rational valuations.

Shares of Microsoft Corp. (MSFT.O) fell 4.4% the day after its report last week, despite better-than-expected cloud returns, and its inventories are now almost the same in the month they reached a record high in early July.

“It’s simply an impulse,” said Leo Kelly, founder of Verdence Capital Advisors, Reuters’ global markets forum ahead of the results due after the bell closes.

“If you have supplies that look like they’re moving in a bubble, you don’t know how far it will go. You can’t just look at the award and say “it’s going to go down.” It can go anywhere and the risk is extremely high. ”


Google and Facebook on Wednesday received particularly sharp blows from Democrats and Republicans, claiming to have maimed smaller rivals in search of market share.

Apple’s headache is a slowdown in hardware sales as the world enters a recession. Analysts predicting a break in the pandemic will see revenue fall by about 3% and iPhone business by almost 14%.

Similarly, Facebook and Google are struggling with the collapse of marketing spending. Refinitiv analysts estimate that Facebook may have generated the slowest revenue growth – around 3% – since it became a public company.

Despite a sharp rise in stock prices, which increases the attractiveness of another technology bubble – Amazon is 64% higher this year and the other 13% – 29% – analysts are still convinced of the long-term growth prospects for the four companies.

“Even bears will say they’re fantastic companies and they’ll stop being fantastic,” said Nicholas Colas, co-founder of DataTrek Research.

“The unifying factor is that they have the ability to grow and control their cost structures through a pandemic. This is always a good place to start when you have a drop. ”

A report by Sagarika Jaisinghani and Neha Malary in Bengaluru; further reports from Lisa Pauline Mattackal in Bengaluru and Noel Randewich in San Francisco; Edited by Patrick Graham, Bernard Orr

Our standards:Thomson Reuters Credibility Policy.

Source link