Barron’s: “Amazon, Meta, and Alphabet Were the Standouts in Tech Earnings. Here’s Why.”

By datatrekresearch in IN THE NEWS Barron’s: “Amazon, Meta, and Alphabet Were the Standouts in Tech Earnings. Here’s Why.”

Excerpt from Barron's quoting DataTrek co-founder Jessica Rabe:

.... "The U.S.’s biggest technology companies had a mixed earnings season as continued excitement over artificial intelligence was balanced against fears about slower consumer spending. Amazon.com, Meta Platforms, and Alphabet came out strongest, according to DataTrek Research.

Following the reports, Wall Street analysts raised their forecasts for profits at Amazon (ticker: AMZN), Meta (META) and Alphabet (GOOGL), Google’s parent, both for the current and following quarters, DataTrek co-founder Jessica Rabe said in a research note Friday.

In contrast, Apple (AAPL) and Microsoft (MSFT) got upward revisions for the current quarter, but expectations were lowered for the subsequent quarter. Forecasts for Tesla’s (TSLA) performance fell for both quarters following its earnings report. Nvidia (NVDA) will report its second-quarter earnings later this month.

“Wall Street analysts mostly liked what they saw in these companies’ Q2 earnings reports, especially for Amazon which is the standout in terms of improved investor sentiment over the past month,” Rabe wrote"....

Full article here on Barron's.

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