megacap tech shares to double-digit gains this year have had little reason to stick around lately. Now they’re counting on earnings from Microsoft and Alphabet after markets close on Tuesday to help restart the rally.
That’s prompted investors to pay up for protection against a sell-off in Alphabet and Microsoft — two of the handful of heavyweights responsible for all of the S&P 500 Index’s advance this year. Investors are banking on them to deliver earnings growth big enough to push the stocks higher — or at least enough to justify this year’s gains.“There is no room for them to falter whatsoever,” said Michael Mullaney, director of global market research at Boston Partners.
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