All eyes on the closing bell and the start of the parade of heavy hitters reporting earnings that even the famous ‘murder’s row of New York Yankees game would envy.
These names are changing lives in a profound way and their shares have been richly rewarded. Right now, the street is prepared to see the silver lining in misses. It's going to take a lot to botch the AI-influenced rally.
Microsoft (MSFT) earnings reaction has been positive for the most part. The Street will be focusing on the company’s cloud business and Azure growth metrics. Next year’s estimates have declined considerably, but earnings execution has been steady.
Alphabet (GOOG/L) will provide key data on the health of online advertising ahead of the earnings reports from Meta Platforms (META) on February 1st. GOOG/L’s earnings reactions have been mostly to the downside. The past three quarters saw modest EPS beats of $0.09-$0.10.
The Street will be focusing on demand for AMD’ s (AMD) MI300 AI chips, which seeks to compete with market leader Nvidia (NVDA). Over the last 30 days, next year’s estimates have seen a significant decline.
The heavily weighted Technology sector is the worst performer this afternoon driven by large declines in its mega cap constituents.
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