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Wedbush Managing Director Dan Ives believes technology stocks will drive the market rally this week, too, with tech giants like Microsoft Corp. (MSFT), Apple Inc. (AAPL), Meta Platforms Inc. (META), and Amazon.com Inc. (AMZN) all set to announce their latest quarterly results this week.
The Wall Street’s tech bull said in a post on X that technology stocks are expected to deliver strong results in the second half of the year, driven by artificial intelligence.
“This week is setting up to be more good news for tech bulls as we are expecting strong results from tech stalwarts Microsoft, Meta, Amazon and Apple kicking off tomorrow,” Ives said.
Microsoft and Meta are scheduled to report their earnings on Wednesday, alongside Arm Holdings (ARM) and Qualcomm (QCOM). Apple and Amazon’s quarterly results are scheduled to be announced on Thursday.
Stocktwits data shows the retail sentiment around the MSFT stock was in the ‘extremely bullish’ territory, with Microsoft’s shares having surged 22% year-to-date (YTD).
Sentiment around AAPL stock was in the ‘bullish’ territory, META stock in ‘neutral’ territory, and AMZN stock in the ‘bearish’ territory.
While Apple’s shares have tumbled nearly 15% YTD, Meta’s shares have gained nearly 23%, while Amazon’s shares have climbed 6% in this period.
Wall Street’s expectations of earnings per share (EPS) and revenue from the four tech giants line up like so, according to Stocktwits data:
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