Apple Inc (NASDAQ:AAPL) analyst Ming-Chi Kuo said the worst is yet to come for tech stocks.
What Happened: The Taiwan-based Apple watcher had earlier tweeted that “no one cares about big tech earnings anymore.”
In a later tweet, he said, “I think the worst for tech stocks may be yet to come.”
However, I think the worst for tech stocks may be yet to come. https://t.co/Uq5EZUc0rF
— 郭明錤 (Ming-Chi Kuo) (@mingchikuo) April 26, 2022
See Also: How To Buy Apple (AAPL) Shares
Why It Matters: Kuo said this week that the Tim Cook-led Apple may not issue third-quarter guidance if there is no significant improvement in Chinese manufacturing.
Apple’s earnings are due Thursday. The Street expects earnings per share to amount to $1.43, according to Benzinga data.
On Tuesday, Apple-rival Microsoft Corporation (NASDAQ:MSFT) saw its third-quarter revenue rise 18% year-over-year to $49.4 billion beating an estimate of $49.03 billion.
Google-parent Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) reported a rare earnings per share miss on the same day. Alphabet's first-quarter earnings per share amounted to $24.62, falling short of an estimated $26.11 number.
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