AAPL stock was trading at $147.08 as of 10:03 AM EDT.
As Big Tech prepares to dominate earnings season, the stakes could not be higher this week. The results from Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), Meta (NASDAQ:META), Apple (NASDAQ:AAPL), and Amazon (NASDAQ:AMZN), among others, are likely to determine many traders’ investment trajectories even though third-quarter data from every sector of the market will be coming in. The newly discovered FAANG family, which Jim Cramer of Mad Money has dubbed MAMAA, is anticipated to have had a slowdown in revenue growth of less than 10%, as opposed to a 29% surge in 2021, bringing in $1.4T.
When you look at the big picture, Snap’s (NYSE:SNAP) earnings had already made people feel down before the parade, especially since the digital epidemic boom, which was made worse by skyrocketing prices, is over. Many big technology companies have stopped hiring because they think a recession is coming. However, some people say that the big players in the industry have diversified their businesses enough to protect themselves from a slowdown in advertising. This market is becoming known for its big gains and losses, and investors may still panic if their predictions don’t come true.
Gene Goldman, the chief investment officer at Cetera Investment Management, said that the bar was set pretty low going into earnings season. Since everything had been downgraded, we had hoped to expect easy beats, but the recent earnings releases haven’t been all that impressive.
AAPL and other Big tech stock outlook
Market movement: S&P 500 companies that have missed earnings expectations this earnings season have dropped 4.7% on average between the two days before to and following their report, compared to the five-year average of 2.2%.
The Q3 results of four of the top five global corporations by market cap have been released. The combined market value of Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Alphabet (NASDAQ:GOOGL) is $6.71 trillion. Starting on October 25, Microsoft and Alphabet will go live, and on October 26, Meta will do the same. On October 27, Apple and Amazon will cap off this crucial tech week.
Apple Stock Price Expectations Are Shifting
Featured Image – Megapixl © Streetka2004
Author Jowi Kwasu 
