{"id":11690,"date":"2023-05-11T12:33:09","date_gmt":"2023-05-11T04:33:09","guid":{"rendered":"https:\/\/www.syfe.com\/magazine\/?p=11690"},"modified":"2024-04-02T14:31:52","modified_gmt":"2024-04-02T06:31:52","slug":"big-tech-earnings-review-outlook","status":"publish","type":"post","link":"https:\/\/www.syfe.com\/magazine\/big-tech-earnings-review-outlook\/","title":{"rendered":"Big Tech Earnings Review + Outlook"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

After facing heavy selling pressure in 2022, big tech surprised analysts during the most recent April\/May US earnings season – with Apple, Microsoft, Amazon, Meta, and Alphabet – all beating analyst expectations.<\/p>\n\n\n\n

Here is an overview of those earnings results and a look at where analysts think big tech heads next.<\/p>\n\n\n\n

Apple Q2 Earnings<\/h2>\n\n\n\n

Apple bucked the trend of many tech companies as part of its latest quarterly earnings report, with CEO Tim Cook stating that the company had no plans to announce layoffs.<\/p>\n\n\n\n

Beyond that, Apple had a strong quarter, delivering the following results:<\/p>\n\n\n\n

Revenue of US$$94.8 billion v $92.96 billion expected
iPhone revenue of US$51.3 billion v US$48.8 billion expected
Services revenue of US$20.91 billion v US$20.97 billion expected
Gross margin of 44.3%
Earnings per share of US$1.52 v US$1.43 expected<\/p>\n\n\n\n

On average, AAPL currently has a Buy rating and an estimated price target of US$172.95 per share.<\/p>\n\n\n\n

Microsoft Q3 Earnings<\/h2>\n\n\n\n

Following Microsoft’s US$13 billion bet on AI through its investment in OpenAI, it was unsurprising that the tech stalwart talked up the transformative power of AI as part of its Q3 earnings release.<\/p>\n\n\n\n

Overall, Microsoft beat analyst estimates across the board, generating total Q3 revenue of US$52.9 billion vs US$51.0 billion expected and Q3 EPS of US$2.45 vs US$2.23 expected.<\/p>\n\n\n\n

On average, MSFT currently has a Buy rating and an estimated price target of US$328.61 per share.<\/p>\n\n\n\n

Amazon Q1 Earnings<\/h2>\n\n\n\n

Amazon continues to diversify its revenue away from e-commerce, with the tech conglomerate’s ads and cloud businesses now contributing a little over US$30 billion in revenue.<\/p>\n\n\n\n

Overall, Amazon comfortably beat sales estimates in the quarter, reporting Q1 revenue of US$127.4 billion vs US$124.5 billion expected; and Q1 EPS of US$0.31 cents.<\/p>\n\n\n\n

On average, AMZN currently has a Buy rating and an estimated price target of US$132.18 per share.<\/p>\n\n\n\n

Meta Q1 Earnings<\/h2>\n\n\n\n

Building on the stunning stock performance in 2023, Meta handily beat analyst expectations in Q1 FY23, reporting first quarter revenue of US$28.6 billion vs the US$27.6 billion expected; and EPS of US$2.20 vs US$2.03 expected.<\/p>\n\n\n\n

Zuckerberg continues to slash costs aggressively, with the social media giant now having cut ~66,000 or approximately 25% of its workforce in recent times.<\/p>\n\n\n\n

On average, META currently has a Buy rating and an estimated price target of US$268.82 per share.<\/p>\n\n\n\n

Alphabet Q1 Earnings<\/h2>\n\n\n\n

Of all the big techs, it is potentially Alphabet – parent of Google – which is facing the highest degree of competitive pressure as a result of OpenAI’s ChatGPT product, which has been a hit among consumers.<\/p>\n\n\n\n

Nonetheless, Alphabet posted revenue and earnings beats as part of its Q1 report: revenue came in at US$69.8 billion vs US$68.9 billion expected; and EPS was US$1.17 vs US$1.07 expected.<\/p>\n\n\n\n

On average, GOOGL currently has a Buy rating and an estimated price target of US$129.21 per share.<\/p>\n\n\n\n

Invest in Big Tech with Syfe<\/h2>\n\n\n\n

Invest in 10,000+ US stocks – including leading big tech companies – with flat brokerage of just US$1.49 per trade. Download the app now.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

After facing heavy selling pressure in 2022, big tech surprised analysts during the most recent April\/May US earnings season – with Apple, Microsoft, Amazon, Meta, and Alphabet – all beating analyst expectations. Here is an overview of those earnings results and a look at where analysts think big tech heads next. Apple Q2 Earnings Apple […]<\/p>\n","protected":false},"author":3,"featured_media":13382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[289,17],"tags":[],"class_list":{"0":"post-11690","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-insights","8":"category-invest-smarter"},"acf":{"readingTime":"","authorName":"","authorThumbnail":false,"BLUE_TIER":"0","BLACK_TIER":"0","GOLD_TIER":"0","PRIVATE_WEALTH_TIER":"0","PRE_AML":"0","POST_AML":"0","NO_GLOBAL_PORTFOLIO":"0","NO_REITS_PORTFOLIO":"0","NO_EQUITY_PORTFOLIO":"0","NO_CASH_PORTFOLIO":"0","HAS_ADVISOR":"0","INVESTMENT_PORTFOLIO_AUM":"0","AFTER_AML_DATE":"","AFTER_ACCOUNT_CREATED_DATE":""},"yoast_head":"\nQ1 Earnings Wrap: Apple, Microsoft, Amazon, Meta, and Alphabet<\/title>\n<meta name=\"description\" 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