Four of the United States' big tech firms, accounting for nearly a fifth of the S&P 500's total value, report results on Thursday on the heels of a bruising Congressional hearing to look into alleged abuse of their global dominance.
But with many of Apple's stores still closed and Amazon's e-commerce costs soaring, there are question marks, and some on Wall Street argue that stock prices for all four have been bloated beyond rational valuations. Apple's headache is a slowdown in hardware sales as the world slides into recession, with analysts predicting pandemic disruptions will see revenue fall about 3per cent and the iPhone business by nearly 14per cent.
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