Big tech under pressure in week ahead: Congress testimony, earnings - Business Insider

When Apple reports its fiscal fourth-quarter earnings on Thursday, Wall Street will be keeping an eye out for clues pointing to the reception of the iPhone 12. For months, analysts had been anticipating that the iPhone 12 would be one of Apple's biggest product launches in years, and now they're looking for the company to deliver on that expectation.

Apple's delayed iPhone launch also means that initial sales won't be included in the company's fiscal fourth quarter earnings, so analysts will have to rely on commentary made during the earnings call and revenue guidance for the upcoming holiday quarter. Apple hasn't issued guidance all year because of the uncertainty surrounding the pandemic, so it will be very telling if the company decides to do so for its fiscal first quarter of 2021.

Wall Street is keeping a close eye on Amazon's COVID-related costs, which the company said would result in an additional $2 billion in spend for the third quarter. Amazon's cloud business could come under the scope too, as sales growth is expected to reach a record-low 29% again in the third quarter amid intensifying competition.

Wall Street will be looking closely at Facebook's advertising revenue, which could have been hurt by several factors in the past quarter. More than 1,000 advertisers

Do people still use facebook?

likely to BUY peace (cost of doing business)! That's how it works there!

Talk about money & influence in the media. Within our ethos we are being subducted subdued & absorbed. We are trended to think along shallow lines. Our focus is walled in & outlined with finesse. Do you think you know? Our new direction is in & down as in a swirling drain away.

Give them a design task

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