The US market saw a strong rebound this week thanks to some strong earnings newsflow. The continuation of the rally over the coming weeks will depend largely on two key factors – gains from blue chip technology stocks and consumer prices in September inflation data.
Big Tech Earnings: apple inc AAPL and Alphabet, Inc. Google WELL likely to report strong September quarter results and provide upbeat comment on the December quarter, according to Loup Funds. Gene Munster tweeted on Friday.
Alphabet is expected to report its third-quarter results after the market close on Tuesday. Analysts, on average, expect the company to report earnings per share, or EPS, of $1.26 on sales of $70.68 billion Benzinga Pro data. This compares to last year’s numbers of $1.4 and $65.12 billion, respectively.
Snap, Inc SNAP Disappointing results may raise concerns about the search giant’s ad revenue. Munster said so in another tweet earlier this week he’s not too concerned about alphabet as well Meta Platforms, Inc. METAas only some of the headwinds that have affected Snap apply to these companies.
Apple will release its September quarter results after the market close on Thursday. Consensus estimates are for EPS of $1.27 and revenue of $88.9 billion, up from $1.24 and $83.36 billion a year ago.
Given that Apple’s high-end iPhone 14 variants outperformed the lower-end versions, any potential volume hits could be offset by higher average selling prices from earlier models.
See also: Snap Inc Reports Q3 Sales, EPS Beat, Announces Stock Buyback, But Stock Plunges Because of This
said Munster Amazon, Inc. AMZN and meta are wild cards. Meta will report after the market close on Wednesday, and Amazon’s third-quarter earnings report is due after the market close on Thursday.
Meta’s earnings per share are expected to fall to $1.89 from $3.22 in the third quarter, and revenue may have declined to $27.41 billion from $29.01 billion. Amazon is also expected to launch a…
