Big Tech
Big Tech’s Growth Status in Doubt With Weaker Sales Outlooks
- Seven biggest tech stocks are down an average 9% from highs
- Sector still carries a nearly 36% premium to the S&P 500
Apple iPhone 15 smartphones on sale at the company's Fifth Avenue store in New York.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Earnings for most of Big Tech are out and the group delivered even bigger profits than Wall Street anticipated. The bad news: the outlook for repeat performances in the fourth quarter dimmed.
Apple Inc., Alphabet Inc., Meta Platforms Inc. and Tesla Inc. all gave investors reason to fret about growth. From Apple’s muted holiday outlook to Google parent Alphabet’s lackluster cloud computing sales results, a recurring theme for the cohort was caution. Meta warned that the year ahead is looking less predictable, while Tesla raised concerns that demand for electric cars is starting to weaken.