It's earnings season, and tech is up front and center for investors as companies including Apple, Amazon, Meta and Alphabet prepare to release quarterly reports.
Meta reports on Wednesday, and while the stock is up over 54% in the past three months, CEO Mark Zuckerberg was cautious when he outlined headwinds that the company could face back in October. According to FactSet, analysts are looking for an EPS of $2.26 when Meta reports earnings. Fourth-quarter revenue is expected to come in at $31.55 billion.
Apple, which reports on Thursday, is widely expected to report a year-over-year decline in revenue, which would be its first since 2019. FactSet's analysts expect the iPhone maker to report revenue of $121 billion, which is down from last year's $123.9 billion. Earnings are expected to come in at $1.94 a share.
Amazon's earnings estimates come in at $0.17 according to FactSet, which would be a year-over-year decline of 88%. Sales, on the other hand, are expected to come in at $145.6 billion, which would be an increase of 5.9% from the year-ago quarter.
And, finally, there's Alphabet. Analysts polled by FactSet are looking for earnings of $1.18 a share. Revenue expectations sit at $76.17 billion. The primary concern with Alphabet is YouTube since TikTok and Instagram have dominated the short-form video space.
However, earnings aren't the only event in focus this week as Wall Street is waiting to hear from the Federal Reserve. The general consensus is a quarter-point hike, so an announcement that doesn't align with the expectations could cause volatility in the market.
Chris Konstantinos, Chief Investment Strategist at RiverFront Investment Group joins TheStreet Today to cover earnings, the Federal Reserve, and the markets.
