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US Earnings Week Ahead: From Alphabet, Meta to Apple - 7 tech companies to post record revenues | Mint

Jan 28, 2024 - livemint.com
Five of the seven tech megacaps, including Microsoft Corp., Alphabet Inc., Meta Platforms Inc., Amazon.com Inc., and Apple Inc., are set to report earnings next week. Key issues in focus include artificial intelligence investment, regulatory challenges, and declining demand in China. Microsoft, Alphabet, Meta, and Amazon are expected to post record quarterly revenues, highlighting the strength of the US economy. However, they are likely to face questions about further cost reductions following recent significant job cuts. Apple, dealing with slowing China sales, antitrust accusations, and a patent dispute, could provide insight into early demand for its new Vision Pro.

Other companies reporting earnings include Boeing Co., Advanced Micro Devices, Starbucks, General Motors, UPS, Mastercard, Exxon Mobil, Charter Communications, and Cigna. Boeing is expected to face questions about its plan to address concerns over aircraft quality, following a safety crisis that led the US Federal Aviation Administration to halt a planned production increase of the 737 Max. Starbucks' North American same-store sales growth is projected to halve due to union walkouts and social media boycott calls. Amazon may exceed expectations for a low-double-digit revenue gain due to a stronger-than-expected holiday season and improving sales at Amazon Web Services.

Key takeaways:

  • Five major tech companies, including Microsoft, Alphabet, Meta Platforms, Amazon, and Apple, are set to report earnings next week, with AI investment, regulatory challenges, and China demand being key focus areas.
  • Microsoft is expected to post a 16% increase in record quarterly sales, driven by strength in its Azure segment and rising AI demand.
  • Apple may report modest earnings despite slowing sales in China, with strong demand for the Vision Pro headset and AI-driven features on its iPhones potentially driving growth.
  • Amazon is expected to beat expectations for a low-double-digit revenue gain, with a stronger-than-expected holiday season and improving sales at Amazon Web Services.
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