{"id":4475,"date":"2023-10-23T04:50:55","date_gmt":"2023-10-23T04:50:55","guid":{"rendered":"https:\/\/infundpros.com\/investment\/big-tech-results-will-decide-where-we-go-from-here-amid-investor-caution-they-would-fall-if-it-werent-for-this-one-company\/"},"modified":"2023-10-23T04:50:56","modified_gmt":"2023-10-23T04:50:56","slug":"big-tech-results-will-decide-where-we-go-from-here-amid-investor-caution-they-would-fall-if-it-werent-for-this-one-company","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=4475","title":{"rendered":"Big-tech results will decide \u2018where we go from here\u2019 amid investor caution. They would fall if it weren\u2019t for this one company"},"content":{"rendered":"

The big U.S. banks gave mixed signals on the economy when they reported quarterly results this month, and market optimism has seesawed. <\/p>\n

But with big-tech stalwarts Amazon.com Inc., Google parent Alphabet Inc., Microsoft Corp. and Facebook parent Meta Platforms Inc. batting cleanup this week, the results could determine the course of the earnings reporting season in the weeks ahead. And in the weeks ahead, results from Nvidia Corp., the massive chipmaker and AI darling, could play the biggest role in defining that path. <\/p>\n

\n

\u201cThis has felt more like a bear market starting with rating agencies downgrading U.S. debt,\u201d Ken Mahoney, chief executive of Mahoney Asset Management, said in emailed commentary on Friday. \u201cTech earnings next week will decide where we go from here.\u201d<\/p>\n

\u201cIf we do get a beat and raise from some of the heavy hitters, that will give the market a boost and then we will have analysts scurrying to update their models and see price target upgrades,\u201d he continued.<\/p>\n

Microsoft
\n MSFT,
\n -1.40%<\/bg-quote>
\n and Alphabet
\n GOOGL,
\n -1.56%<\/bg-quote><\/p>\n

GOOG,
\n -1.61%<\/bg-quote>
\n report Tuesday. Meta
\n META,
\n -1.33%<\/bg-quote>
\n reports Wednesday, while Amazon
\n AMZN,
\n -2.52%<\/bg-quote>
\n on Thursday. Meta and Amazon, which command massive market valuations, are among the companies expected to do the heavy lifting on earnings growth even though Wall Street overall currently expects a slight per-share profit decline for the S&P 500 Index
\n SPX
\n overall. <\/p>\n

Still, according to FactSet, Nvidia, which reports next month, will likely be the heaviest lifter overall. <\/p>\n

\u201cNVIDIA is also expected to be the largest contributor to earnings growth for the entire S&P 500 for Q3,\u201d FactSet Senior Earnings Analyst John Butters said in a report on Friday. \u201cIf this company were excluded, the blended earnings decline for the S&P 500 for Q3 would increase to -1.8% from -0.4%.\u201d<\/p>\n

The results from the four tech big tech companies this week will arrive after JPMorgan Chase & Co.
\n JPM,
\n -1.61%<\/bg-quote>
\n Chief Executive Jamie Dimon said U.S. consumers and businesses \u201cgenerally remain healthy,\u201d while Citigroup Inc. expects a \u201cmild recession\u201d in the first half of next year. <\/p>\n

While AI development remains the north star for the tech industry and investors, analysts could start to dig deeper into short-term costs. The industry also hasn\u2019t totally shaken off concerns about more cautious IT, cloud and digital-ad spending, with businesses still hesitant amid enduring anxieties about a weaker economy up ahead. And Barron\u2019s this month pointed to recent warnings from lower-profile tech companies. Then, there\u2019s deeper regulatory scrutiny, as governments struggle to keep a lid on the size of the industry\u2019s biggest players. <\/p>\n

Still, Wall Street\u2019s expectations could be worse. Alphabet reports as it faces a bigger antitrust battle with the government. But analysts expect decent search-driven ad revenue and a better showing from YouTube. And at Meta, some analysts expect ad sales to recover as well.<\/p>\n

Some analysts on Wall Street also expected solid results from Microsoft \u2014 which has invested in ChatGPT creator OpenAI \u2014 as trends in its Azure cloud business even out. The company last week, after months of wrangling with regulators, closed its deal to buy video-game maker Activision Blizzard. <\/p>\n

At Amazon, meanwhile, analysts will be watching for forecasts on holiday-season spending and a rebound e-commerce overall, a possible improvements in its cloud business, and any comments on the FTC\u2019s lawsuit against it. Analysts expect minimal financial impact, for now, on Amazon, and an uphill battle for the agency, which has accused the online retailer of \u201cexploiting its monopoly power\u201d while raising prices and making service worse. <\/p>\n

This week in earnings<\/h2>\n

Elsewhere in the tech industry, Intel Corp.
\n INTC,
\n -2.10%<\/bg-quote>
\n and International Business Machines Corp.
\n IBM,
\n -0.62%<\/bg-quote>
\n report this week. So does streaming platform Spotify Technology
\n SPOT,
\n -0.03%<\/bg-quote>,<\/span>
\n which has been trying to expand beyond music and podcasts as steady profit remains hard to come by. Toy-makers Mattel Inc.
\n MAT,
\n -1.30%<\/bg-quote>
\n and Hasbro Inc.
\n HAS,
\n -0.99%<\/bg-quote>
\n also release earnings, as Mattel\u2019s momentum from the \u201cBarbie\u201d movie runs up against questions about toy demand and other efforts to turn classic toys into content. <\/p>\n

Results are also due from General Electric Co.
\n GE,
\n -0.81%<\/bg-quote>,<\/span>
\n 3M Co.
\n MMM,
\n -0.59%<\/bg-quote>
\n and Boeing Co.
\n BA,
\n -1.50%<\/bg-quote>.<\/span>
\n Coca-Cola Co.
\n KO,
\n +0.40%<\/bg-quote>,<\/span>
\n Snap Inc.
\n SNAP,
\n -2.18%<\/bg-quote>
\n and Chipotle Mexican Grill Inc.
\n CMG,
\n -0.89%<\/bg-quote>
\n also report. For the week ahead, 160 S&P 500 companies will report results, including 12 from the Dow, according to FactSet. <\/p>\n

The calls to put on your calendar<\/h2>\n

UPS, GM, Ford and the unions reshaping them: <\/strong>Package-deliverer United Parcel Service Inc., which reports results on Thursday, just struck a deal with the Teamsters union. Auto-makers General Motors Co. and Ford Motor Co., which report Tuesday and Thursday respectively, are still locked in negotiations with the United Auto Workers. <\/p>\n

Those discussions have been part of a bigger push from labor across the nation\u2019s supply chains, following initial deals struck with longshoremen and rail workers over the past year, as workers fight for a cut of big pandemic-era profits reaped by their employers and businesses and businesses and consumers worry about delays in shipments and higher prices. <\/p>\n

The UAW on Friday said it had made inroads on talks with the Big Three auto-makers. But remarks from executives, particularly at GM
\n GM,
\n +1.13%<\/bg-quote>
\n and Ford
\n F,
\n +0.95%<\/bg-quote>,<\/span>
\n could still add more drama to those negotiations, as both companies also deal with concerns about electric-vehicle production and the impact of higher interest rates on sales. <\/p>\n

And while UPS
\n UPS,
\n -0.07%<\/bg-quote>
\n predicted minor cost increases from the Teamsters deal as it leans on tech efficiencies, it will report as analysts seek more clues on what kind of business it may have lost in the sometimes-tense negotiations with the union. And with demand for package deliveries from shoppers and retailers still weaker as higher prices force more restrained spending, other shipping companies have warned that they\u2019re not out of the freight recession yet. <\/p>\n

The numbers to watch<\/h2>\n

Visa, Mastercard and credit-card spending:<\/strong> Credit-card giants Visa Inc.
\n V,
\n -0.18%<\/bg-quote>
\n and Mastercard Inc.
\n MA,
\n -0.89%<\/bg-quote>
\n report results on Tuesday and Thursday, respectively. The two rivals will report after shares of Discover Financial Services
\n DFS,
\n -2.84%<\/bg-quote>
\n took a hit after executives there warned of \u201csome indications of stress\u201d among customers and set aside more money to cover loan losses. While the three companies aren\u2019t exactly the same \u2014 Visa and Mastercard don\u2019t actually issue their own cards \u2014 Wall Street may still be looking for read-throughs, amid worries that the Fed\u2019s higher interest rates could crimp consumer spending. <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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