Among the megacaps, Alphabet is the leader at 38%, followed by Facebook at 37% and Apple Inc. Technology companies in the S&P 500 Index are projected to report revenue growth of roughly 19% for the third quarter, exceeding the benchmark’s average, according to analyst estimates compiled by Bloomberg Intelligence. tumbled around 5%, while Google-parent Alphabet Inc. That sent shivers through the industry, as Facebook and Twitter Inc. There have been some high profile earnings misses, particularly Snap Inc., which plunged 27% on Friday after warning that customers are cutting back on digital advertising spending. “It is all about the ability of these companies to deliver on earnings,” JPMorgan Asset Management strategist David Lebovitz, who helps oversee $2.7 trillion in assets, said. The Nasdaq 100 Stock Index is just 2% from a record high despite Friday’s decline.
They could use a strong showing, as big tech’s market dominance faces threats from rising interest rates and slowing revenues.
technology companies are set to report earnings, starting with Facebook Inc. (Bloomberg) - Investors still believe technology is the best place in the stock market to find reliable revenue and profit growth.
