Big Tech Needs Big Profits With Multiples Under Fire: Tech Watch
- Profit growth for S&P 500 tech firms is poised for slowdown
- Earnings season comes as tech stocks have stumbled into 2022
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Big tech needs a big showing this earnings season.
Technology stocks have stumbled into the new year, with the Nasdaq 100 Index down about 6% on fears that the Federal Reserve’s efforts to combat inflation will curb valuations for the sector. The benchmark is slumping again Tuesday with Facebook parent Meta Platforms Inc. falling as much as 4.1%, as bond yields spike anew.