Wall Street is closely watching Big Tech earnings this week, with giants like Microsoft (MSFT), Meta (META), Apple (AAPL), and Amazon (AMZN) set to report their quarterly results. Rockland Trust chief investment officer David Smith joins Catalysts to share his outlook on tech stocks.
Smith notes, "It’s a data-intensive point in the season," with earnings reports and Federal Reserve decisions all scheduled for this week. However, following lackluster reports from companies like Alphabet (GOOG, GOOGL) and Tesla (TSLA) last week, Smith observes that "there’s very little appetite for companies that miss earnings," especially in the technology sector, which explains the massive sell-offs markets have seen.
Regarding AI investments by Big Tech companies, Smith explains to Yahoo Finance, "I think… AI is important to all of the Magnificent 7 in different ways, so to paint them all with the same brush is a little bit risky."
For more expert insight and the latest market action, click here to watch this full episode of Catalysts.
This post was written by Angel Smith
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