After one of the worst years for tech stocks in recent memory, tech companies are about to detail exactly how good — or, more likely, how bad — their holiday seasons were.
Hundreds of companies will provide 2022 results and varying levels of guidance for the year ahead in the coming days, but some will be more important than others. Here are five tech giants that should land on the top of your list of earnings to watch, since beyond their individual importance, they will also provide insight for their entire tech sectors.
The PC market, as was reported last week by the two big market-research firms, had its worst fourth quarter since IDC and Gartner began tracking the industry’s growth rate.At the same time, the chip giant is undergoing a major turnaround effort under Chief Executive Pat Gelsinger, and the company may disclose more details about its restructuring plans and ongoing job cuts, which have begun in California and Oregon.
JP Morgan analyst Doug Anmuth thinks a better future is ahead, though. In mid-December, he upgraded Meta’s stock, which fell about 64% in 2022, saying that after showing signs of “increasing cost discipline,” he believed more cost controls are to come. Anmuth also said he believed the company’s issues with Apple Inc.