As corporate giants report their quarterly earnings updates in the coming days, one investment bank has suggested that investors bet against two Big Tech stocks. Analysts at Itau BBA, the largest investment bank in Latin America, said investors should short Apple and Amazon before their quarterly financial results are released on Oct. 31. Shorting is the process of borrowing shares to sell immediately, hoping to repurchase them later at a lower price and pocket the difference.
line Amazon Itau analysts said the e-commerce giant's profit margins will likely have peaked, which could lead to a sell-off after Amazon reports its quarterly earnings. "Despite consensus moving lower almost every day for the past 3-4 weeks, the stock has been reaching new highs," said the analysts.