After Big Tech reported record pandemic profits last week, corporate earnings are on track for their best performance in more than a decade, but now a new generation of tech companies with their own regulatory issues will take the stage.
Don’t miss: Uber and Lyft expect ride-hailing to make a sharp recovery, but there are some potential roadblocks Tech giants, whose earnings performance have an outsize impact on the overall index since the S&P 500 is market-cap weighted, have posted massive profit beats that dramatically exceeded expectations, helping to fuel surging earnings growth for the index. Amazon.com Inc.’s AMZN, -2.33% profit more than tripled in the quarter, while Apple Inc.’s AAPL, +0.82% and Alphabet Inc.’s GOOG, -0.62% GOOGL, -0.44% more than doubled.
A more long-term issue for Pfizer is the company’s ability to make up for the roughly $18 billion in sales that the company will lose later in the decade due to patent expirations, he said. “We believe updated performance metrics on recently launched financial services products are an increasingly important catalyst for the stock,” he wrote ahead of the company’s Wednesday afternoon report.
Source: News Formal (newsformal.com)
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