Trial DataTrek Morning Briefings for Free

Thousands of investors and financial journalists rely on Nick and Jessica’s newsletter every day for their thought-provoking work on markets, data and disruption. See why for yourself by starting a 2-week FREE trial below.


WSJ: “Big Tech Stocks Still Look Expensive After Earnings Revisions”

By admin_45 in IN THE NEWS WSJ: “Big Tech Stocks Still Look Expensive After Earnings Revisions”

Excerpt from the Wall Street Journal quoting DataTrek's Nick Colas:

....Analysts are cutting down earnings estimates for megacap technology stocks at a faster pace than the S&P 500, but shares still mostly look expensive, DataTrek Research points out in a Thursday note.

Looking at Apple, Microsoft, Google parent Alphabet, Amazon, Tesla, Facebook parent Meta Platforms and Nvidia, here’s what DataTrek found on earnings revisions:

  • The average Big Tech company has seen consensus analyst earnings estimates for the third quarter fall 21.4% over the last 90 days and projections for 2023 decline 11.3% on average.
  • That compares with the S&P 500’s 5.8% decline in third-quarter estimates and 3.1% drop in 2023 expectations during the same period.

Even with these downward revisions, Big Tech looks expensive versus other large-cap stocks"....

Full article here on the WSJ.

Trial DataTrek Morning Briefings for Free

Thousands of investors and financial journalists rely on Nick and Jessica’s newsletter every day for their thought-provoking work on markets, data and disruption. See why for yourself by starting a 2-week FREE trial below.