Apple, and other “Big Tech” names Amazon, Alphabet (Google), Meta (Facebook), and Microsoft will all report earnings this week in a crucial three-day stretch. Apple and these four other companies comprise nearly a quarter of the S&P 500’s market cap.
Jeremy C. Owens for MarketWatch:
Even an early warning from Microsoft about its earnings and the knowledge that Amazon is already cutting costs may not be enough to truly prepare Wall Street for what may be coming.
Any big moves for those five companies would have major ripple effects in the market. Collectively worth roughly $7.5 trillion despite the declines that have already struck this year, the five companies make up about 23% of the total market cap of the S&P 500 index, according to the Dow Jones Market Data Group.
Collectively, the quintet produced profit surpassing $320 billion last year, with sales topping $1.4 trillion, which would rank 13th in gross domestic product as a nation, just behind Brazil and ahead of Australia, according to World Bank figures…
Apple has not been guiding during the pandemic and Google executives do not provide any type of financial forecast, so look instead for color about what is ahead for those companies.