This week will be the biggest of the earnings season with about 86 companies reporting earnings, including Alphabet, Amazon, Apple and Microsoft.
Microsoft is expected to report a 20% increase in net earnings, with revenue of $61.1 billion. Last week, the company became one of two, alongside Apple, valued at $3 trillion. Apple, meanwhile, is expected to post revenue of $117.87 billion, but while shares rose 48% in 2023 they have been slightly off track this month.
Alphabet is expected to post revenue $65.9 billion, an increase of 12%, with profit increasing more than 50%. Amazon is expected to report revenue of $166.1 billion, driven in part by 13.1% sales growth at Amazon Web Services.
“Companies leveraging AI technologies exhibit a competitive edge, leading to increased profitability and sustained growth,” said Nigel Green, CEO of deVere Group, a financial consultancy. “Plus, the scalability of tech companies allows for exponential growth and, in addition, tech stocks can often provide a hedge against economic downturns.”
