In the larger scheme of things, this could be the case seeing as stocks remain as volatile as ever with steep sell-offs and subsequent rebounds happening back-to-back.
He notes, “The usual suspects of a slowing economy, a hawkish Federal Reserve Bank, supply chain worries, war in Europe, and now another China shutdown have all combined to make this one of the worst starts to a year ever for both stocks and bonds.” Aside from all this, the latest GDP figures for the quarter are due later today as well.
As the walls of surging inflation and rising interest rates close in on tech firms, many would be eager to see how the consumer tech firm fares.
For one thing, analysts across the board also seem to believe that Apple’s iPhone 13 will continue to drive performance for the quarter.
Moreover, Wamsi also speculates that Apple could reveal a $70 billion share buyback plan alongside another dividend bump.
Diving right in, Wall Street is currently expecting earnings of $8.35 per share on revenue of $116.45 billion from the e-commerce goliath.
Even on the low end of the spectrum, experts are already anticipating gains of over $1,000 a share the company.
Despite the miss on the revenue front, investors seem to be breathing a sigh of relief as Meta appears to be on the upswing.
Namely, this would be the case as the company is recovering from its previous lackluster fourth fiscal quarter report.
Aside from all that, we have no shortage of exciting earnings to consider in the stock market today as well.
Alternatively, there are also numerous more tech names to consider in the post-market hours.
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