Apple, Amazon and Meta Take Spotlight

Results follow Microsoft and Alphabet’s Tuesday reports
Big tech stocks have led the S&P 500 lower this week

WATCH: Amazon’s operating income in the period ending in March will be $8 billion to $12 billion. Poonam Goyal has more.Source: Bloomberg

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By Carmen Reinicke

February 1, 2024 at 11:55 AM UTC

Updated on

February 1, 2024 at 7:02 PM UTC

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Big Tech’s struggle to meet lofty investor expectations this earnings season has taken air out of a record-breaking stock run. Pressure is now on Apple Inc., Amazon.com Inc. and Meta Platforms Inc. to come through on Thursday.

The sector has led the S&P 500 lower this week after results from Microsoft Corp., Alphabet Inc., and Advanced Micro Devices Inc. were met with selling by traders. Investors had bid up the stocks to records on bets that artificial intelligence efforts are set to provide a big lift to profits and sales.