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Big Tech earnings approach under antitrust cloud

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Apple, Alphabet, Amazon and Facebook, together accounting for about a fifth of the S&P 500's total value, report their quarterly results on ...

Apple, Alphabet, Amazon and Facebook, together accounting for about a fifth of the S&P 500's total value, report their quarterly results on Thursday, with their stocks trading near record highs, even as they face increasing antitrust scrutiny.

A scathing report by a House of Representatives panel this month detailing abuses of market power by large tech companies suggests a tough road ahead should Democratic presidential candidate Joe Biden, who is leading in polls, win the Nov. 3 election. Microsoft, which posts its results late on Tuesday, has elevated its stock market value by a third in 2020 to US$1.6 trillion. Investors expect the software maker to report an 8per cent rise in quarterly revenue and a 10per cent jump in net income, with Cowen analyst Derrick Wood saying in a recent client note that Windows sales could get a lift from additional laptop demand as people keep working from home.

 

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