Big Tech Earnings Strength Is Bright Light in Murky Stock Market
While Wall Street has long been broadly positive on big tech, this week’s results reinforced it’s continuing potential.
Photographer: Hector Retamal/AFP/Getty Images
Wall Street had a lot riding on whether this week’s big-tech earnings would meet increasingly high expectations. By and large, the companies delivered.
Yes, the stock market finished the week on a down note with Friday’s selloff, which was in part sparked by mixed results from Amazon.com Inc. after the market closed Thursday, as well as a weak jobs report and fears about the economic impact of President Donald Trump’s sweeping global tariffs. But for the most part, investors looking for strength from technology companies to justify their market leadership found plenty of it in their reports.