News Formal

Earnings guide: Here's what to expect from the 'Mag 7' ahead of third-quarter earnings

  • 📰 CNBC
  • ⏱ Reading Time:
  • 25 sec. here
  • 17 min. at publisher
  • 📊 Quality Score:
  • News: 65%
  • Publisher: 72%

Breaking News: Investing News

Wall Street,Business,Markets

Megacap tech has powered the two-year bull market. But the stocks have come under pressure as Wall Street wonders whether they have more room to run.

As earnings season kicks into high gear, investors are keeping an especially close eye on the Magnificent Seven 's quarterly results. The group of mega-cap tech names — Apple , Microsoft , Alphabet , Nvidia , Tesla , Meta Platforms and Amazon — has been the powerhouse of the two-year bull market rally. The Roundhill Magnificent Seven ETF , for example, which tries to replicate their performance, is up about 42% this year versus 22% for the S & P 500.

The stock is now down more than 11% for all of 2024 as Elon Musk's company faces stiffer competition in the U.S. auto market from other EV makers such as Rivian, traditional carmakers like Ford and General Motors and commercial robotaxi operators. Rapid innovation in China's EV market has also threatened Tesla's international growth story. Most analysts surveyed by FactSet are shaky on Tesla, with roughly 41% rating the stock a buy and the remainder a hold or sell.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biotech stocks: Morgan Stanley previews the sector's third-quarter earnings seasonBiotech stocks: Morgan Stanley previews the sector's third-quarter earnings season
Source: Investingcom - 🏆 450. / 53 Read more »

These Are the Top 3 Tech Companies to Bet on Ahead of Q3 Earnings SeasonStocks Analysis by Investing.com (Alessandro Bergonzi) covering: Amazon.com Inc, NVIDIA Corporation, Broadcom Inc, Meta Platforms Inc. Read Investing.com (Alessandro Bergonzi)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

US Stock Futures Point Lower Ahead of Bank EarningsUS stock futures dipped on Friday as investors awaited earnings reports from major banks like JPMorgan Chase and Wells Fargo, while also analyzing recent inflation data. The previous session saw the main averages decline following Labor Department figures revealing higher-than-expected price growth in September.
Source: Investingcom - 🏆 450. / 53 Read more »

US stock futures lower; CPI and earnings ahead this week - what's moving marketsUS stock futures lower; CPI and earnings ahead this week - what's moving markets
Source: Investingcom - 🏆 450. / 53 Read more »

Goldman Sachs says these stocks are a table-pounding buy ahead of earningsGoldman Sachs says these are the best positioned stocks ahead of earnings.
Source: CNBC - 🏆 12. / 72 Read more »