Four U.S. big tech companies, including Apple, Amazon, Facebook’s parent company Meta Platform, and Google’s parent company Alphabet, will announce their earnings this week.
According to the Wall Street Journal (WSJ) and MarketWatch on the 29th (local time), Meta will announce its fourth-quarter earnings on February 1st, while Apple, Amazon, and Alphabet will release quarterly sales and profit reports to investors on February 2nd.
WSJ said four big tech companies will provide updated figures amid layoffs and slowing growth hitting the tech industry.
In the case of Apple, Wall Street is paying attention to how many products such as iPhones were sold during the holiday season in December last year.
In addition, attention is being paid to whether Apple, the only big tech company that has not officially announced its layoff plan, will join the restructuring of its workforce.
Some analysts expect Apple to cut jobs reflecting the increasingly difficult global macroeconomic environment, MarketWatch said.
Amazon is expected to have mixed feelings depending on its online shopping and cloud business performance, and Meta and Alphabet are expected to have mixed feelings depending on its digital advertising performance.
Considering Microsoft’s performance, which was already released on the 24th, some predict that big tech companies’ online business performance ahead of this week’s announcement will not be good.
According to the WSJ, Microsoft’s sales growth in the fourth quarter of last year recorded 2%, the lowest growth in more than six years since the April-June quarter of 2016.
However, just as Tesla, which announced its good performance on the 25th, set the stage for a rebound in stock prices, investors will try to find signs of a reversal in the future earnings forecasts presented by the four big tech companies, Market Watch predicted.
Not only big tech but also large U.S. companies representing various industries have released their earnings this week, drawing keen attention to the results.
According to financial information provider FactSet, more than 100 of the S&P 500 companies, including oil company ExxonMobil, pharmaceutical company Merck, and fast food chain McDonald’s, will unveil their quarterly results this week.
WSJ diagnosed, “The results of companies’ performance that will be announced this week will provide insight into the overall soundness of the U.S. economy.”