2020 has seen technology become a safe haven for lots of investors. But as the mega-cap tech stocks released earnings yesterday, has the bubble burst?
Here’s a quick summary of investor sentiment for the big tech companies this morning:
Apple Inc. (NASDAQ:AAPL) – Apple reported Q4 revenue of $64.7 billion or 73 cents per share, compared with estimates of $63.7 billion or 70 cents per share. Apple announced the iPhone 12 several weeks after its expected release date, which resulted in a decline in 20.7% sales.
Facebook, Inc. (NASDAQ:FB) – Facebook beat analyst estimates for quarterly revenue as its digital advertising tools were increasingly used during a pandemic. Q3 earnings of $2.71 per share on revenue of $21.5 billion. The consensus earnings estimate was $1.94 per share on revenue of $19.6 billion.
Amazon (NASDAQ:AMZN) The online retailer reported Q3 earnings of $12.37 per share on revenue of $96.1 billion. The consensus earnings estimate was $7.30 per share on revenue of $92.8 billion. Yearly sales and profits increased by 37% and almost 200% respectively. Keep in mind that it doesn’t include Prime Day.
Google (NASDAQ:GOOG) (NASDAQ:GOOGL) Google’s parent Alphabet opened higher following Q3 earnings that easily surpassed estimates. Revenue because of the increased ad spend in Search and YouTube. Revenues rose 14% to $46.17 billion.
Twitter Inc (NYSE:TWTR) Twitter is one of the hardest-hit companies in the sector. Shares tumbled after the platform’s user growth was disappointed. The revenue beat analyst expectations however, as ad sales rose with the return of sports and other events. 3rd Quarter earnings were $12.37 per share on revenue of $96.1 billion. The consensus earnings estimate was $7.30 per share on revenue of $92.8 billion.
Watch the full interview to see how you should or should not be trading in these volatile markets.
Forget about a tech safe-haven. How about a revolution which could see growth unseen in the tech industry since the boom of the internet?
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