Are the glory days over for Big Tech stocks?
Their performance hasn’t been enough to please investors lately, but those in the long game will find this the right time to raise their exposure to this sector
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THE fourth-quarter earnings season is underway, and tech giants Alphabet, Microsoft, Amazon, Apple and Meta have all reported their earnings. While the majority of them exceeded both revenue and earnings expectations, their solid financial performance was not enough to satisfy investors’ lofty expectations.
Most of these companies are currently trailing the S&P 500’s 4.29 per cent year-to-date performance; only Meta’s impressive 22.93 per cent gain was a notable exception.
Earnings good, but not good enough
Alphabet shares plunged 7.29 per cent after missing revenue expectations, as the company’s cloud revenue growth decelerated to 30 per cent year on year, down from 35 per cent in the previous quarter.
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