Yahoo Finance: “Big Tech unlikely to see selling relief despite Q4 earnings”By admin_45 in IN THE NEWS
Yahoo Finance quoting DataTrek Research:
... "And although Microsoft (MSFT) on Tuesday bucked a trend of lackluster fourth quarter results, DataTrek Research thinks a couple of factors are sending the popular sector into a downward spiral, which aren't likely to be offset by encouraging earnings. That could spell bad news for Meta (FB), Google (GOOG), Tesla (TSLA) and Apple (AAPL): the last two report earnings this week.
“The upshot here is that the Street’s earnings estimates for Apple, Microsoft, Google, and Tesla are all the same or higher as a month ago while Amazon (AMZN) and Facebook’s estimates are only very modestly lower,” the firm told clients on Tuesday.
The value of technology stocks is their future earnings profile. As a grim sell-off drives down lofty valuations and discount future earnings ahead of Federal Reserve rate hikes, the present value of those stocks falls further — and faster — than the broader market, DataTrek noted"....
Read the full article here on Yahoo Finance!