Big technology stocks may surprise to the upside when they report results in coming days. But even a better-than-expected quarter and companies' improved earnings and revenue forecasts may not be enough to save the market from its recent reversal, according to some professional investors. "They really need to show up and prove themselves," said Adam Sarhan, CEO of 50 Park Investments, noting that all the ingredients look ripe for a pullback.
mountain Microsoft shares year to date The reports from the technology titans come at a tricky time for the broader stock market, and investor sentiment. For the better part of 2023, tech stocks rallied as investors shifted back toward companies growing the fastest, bet on the excitement around artificial intelligence and bond yields promised to pull back.
mountain Meta Platforms shares since the start of 2023 In fact, Bernstein's Mark Shmulik called Meta Platforms one of the best risk-reward opportunities in the internet sector in a Monday note, saying he expects growth is accelerating in the second half off 2023. 2023's AI poster child Nvidia also looks well-situated for "rocket ship upside" given the excitement around AI and easy year-over-year comparisons, Munster said.
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