The coming week will be the most important of this quarter’s earnings season — even if later weeks beat it on quantity, it will be nearly impossible to top this slate in terms of dollars and attention.
Facebook and Google, for example, are widely expected to outdistance estimates after fellow online ad-sales companies Snap Inc. SNAP, -2.12% and Twitter Inc. TWTR, -4.18% blew away expectations in their reports last week, which helped boost Alphabet and Facebook to record stock highs Friday, along with Snap.
Most Big Tech forecasts that have been shared ended up undershooting their actual performance, which can keep expectations low and produce big beats. Amazon, for instance, topped the highest end of its sales forecast by 2.3% in the first quarter, which equates to an additional $2.5 billion. And that was actually the closest Amazon came to an accurate prediction in Big Tech’s $1.2 trillion pandemic year, after beating the top end of its quarterly guidance by 3.8%, 3.4% and 9.
As always, there are plenty of issues to discuss with the electric-car manufacturer. After the departure of a longtime executive, the progress of Tesla’s Semi road map will need to be addressed, as will the gross-margin effects of the continuing semiconductor shortage, an issue across the automotive industry.
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