Silverman Advisory Group: Big Tech's next earnings cycle
Apr 29, 2023
Silverman Advisory Group: Big Tech's next earnings cycle
Hong Kong - April 29, 2023 —
Meta's cost-cutting has boosted certain tech stocks in recent weeks. However, the technology remains volatile, and the sector is engaged in a macroeconomic whack-a-mole.
"A lot of questions remain over whether the storm is passing," said Silverman Advisory Group's Owen Clarke. "I don’t think anyone is anticipating great numbers this quarter, but they’re certainly looking for steps in the right direction."
Watching the markets, you might not realize tech companies have had a historically bad year.
Tech stocks have rallied in 2023, putting the Nasdaq 100 (^NDX) into a bull market, but Clarke remains cautious.
"Shares have risen, but fundamentals don’t indicate we’re out of the woods yet," he continued.
With the industry focused on profitability lately, Clarke says a lot will depend on how much tech companies have saved through mass layoffs over the past six to eight months.
“We'll soon have a clear picture of how much money has saved through these layoffs," he said.
"These layoffs were sold as vital to balancing the books, and how effective they have been in doing so will be one of the major drivers of stock performance over the next six weeks."
Contact Info:
Name: Owen Clarke
Email: Send Email
Organization: Silverman Advisory Group
Website: http://silvermanadvisorygroup.com
Release ID: 89096250
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