Earning season, akin to a lively show, continues to captivate investors as companies reveal their quarterly results. Among the imminent performers on the reporting stage, mega-cap tech favorites such as Meta Platforms (META), Amazon (AMZN), and Apple (AAPL) are set to take the spotlight.
Apple
Apple, deemed a darling of the stock market, is scheduled to unveil its quarterly results on February 1st after the market closes. The company has consistently surpassed consensus earnings and revenue expectations over the last three quarters, fueling a robust rally.
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Analysts are optimistic, with a projected 11% year-over-year growth in earnings. Meanwhile, revenue estimates have dimmed slightly, pointing to a modest 1.4% decrease over the same period. Notably, Apple’s services portfolio has served as a significant growth driver, with a predicted quarterly revenue of $23.3 billion.
Amazon
Amazon, the behemoth in e-commerce and cloud computing, is set to report its earnings on the same day. The company has impressively outperformed consensus EPS expectations by an average of 55% over its last four releases, propelling its stock to an upward trajectory.
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The projected EPS estimate has surged nearly 7% since November, suggesting a substantial 280% year-over-year growth. Attention is likely to focus on Amazon Web Services (AWS), with estimated sales of $24.3 billion, signifying growth from the previous year.
Meta Platforms
Meta Platforms, set to reveal its quarterly results on the same day as Apple and Amazon, has consistently surpassed earnings and revenue estimates in the past four releases. Post its last release, the stock faced slight pressure before bouncing back and surging higher.
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Analysts are upbeat about Meta, with a 60% growth in the Zacks Consensus EPS Estimate. Advertising net sales, a key revenue driver for Meta, are anticipated to reach $37.8 billion, showing substantial growth from the previous year.
Conclusion
Next week, the stage is set for a captivating performance by several mega-cap tech players, including Amazon, Apple, and Meta Platforms. As investors eagerly await the curtain to rise, the tech industry seems poised for an unpredictable yet exhilarating show of financial prowess.
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