What's in Store for Big Tech ETFs in Q4 Earnings?
We are in the peak of the fourth-quarter earnings season and tech giants are in the spotlight this week and the next. The five biggest tech players Microsoft MSFT, Apple AAPL, Amazon AMZN, Meta Platforms META, and Alphabet GOOGL are set to report.
The technology sector, which was hit the hardest by soaring yields and a hawkish Fed, showed a strong comeback to start 2023. Hopes that the Fed will soon wrap up its inflation-fighting campaign and optimism over cooling inflation have compelled investors to buy beaten-up technology stocks (read: 5 Tech ETFs Riding High on Sectors' Comeback to Start 2023).
Microsoft is expected to release results on Jan 24 after market close, while Meta Platforms will report on Feb 1. Alphabet, Apple and Amazon are scheduled to release their earnings on Feb 2.
Microsoft has a Zacks Rank #3 (Hold) and an Earnings ESP of 0.34%. According to our methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before theyre reported with our Earnings ESP Filter.
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