Big Tech Earnings Preview: Meta, Microsoft, Nvidia and More

In One Chart wrote a column · Apr 15 17:50

The earnings season for major tech companies is underway, with key players on the Nasdaq, such as $Microsoft (MSFT.US)$, $Alphabet-A (GOOGL.US)$, and $Amazon (AMZN.US)$, set to announce their financial results in the coming weeks and months. Big technology-related company earnings are expected to again lead $S&P 500 Index (.SPX.US)$ profit growth in the upcoming U.S. reporting period, which could refuel optimism for stock market.

Here's when some of the biggest companies are due to report:

Big Tech Earnings Preview: Meta, Microsoft, Nvidia and More

The S&P 500 has seen a series of record highs since January and is up around 7.4% for the year, despite a slight drop in April.Persistent strong consumer price readings have led some investors to believe that the Federal Reserve may postpone interest rate cuts until September. As higher interest rates typically affect growth stocks more, some investors prefer a strong economy that doesn't rely on Federal Reserve stimulus.

According to data compiled by Bloomberg, the "Magnificent Seven" in the U.S. stock market are expected to see a 38% increase in profits in the first quarter of 2024.

What will drive the market in the future is no longer the Fed's interest rate cuts, but corporate profits. Even in the current high interest rate environment, actual corporate profits are much stronger than expected," said George Ball, chairman of Sanders Morris.

During the earnings season, concerns are expected to grow regarding consumer debt and the sustainability of spending outpacing wage growth. Analysts predict that the first quarter will show the smallest earnings increase of the year, with an overall profit growth of 9.8% expected for 2024. BofA Securities strategists also suggest that operating leverage should improve margins as demand rebounds.

$Nasdaq Composite Index (.IXIC.US)$ $NASDAQ 100 Index (.NDX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Netflix (NFLX.US)$ $Tesla (TSLA.US)$ $NVIDIA (NVDA.US)$ $Meta Platforms (META.US)$ $Apple (AAPL.US)$

Source: Seeking Alpha, Bloomberg, REUTERS

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