Trillion-Dollar Titans Amazon, Apple Report Earnings: What to Expect?
Today marks the highly anticipated release of quarterly reports from Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN), the last two major U.S. companies to report for this earnings season.
The two tech giants proudly hold their place among the famous Big Tech group, often referred to as the old FAANGs.
To get a comprehensive overview of their performance, we'll turn to InvestingPro for valuable insights and analysis.
Let's begin with Apple, the trillion-dollar company with a staggering market capitalization of over $3 trillion. The tech titan has shown impressive and steady growth since the beginning of the year, boasting a remarkable gain of more than 50%.
In regards to the upcoming quarterly earnings report, analysts are expecting Apple's EPS to be at 1.19, which aligns with the same period in 2022. However, there might be a slight dip in Apple's revenues, with expectations at 81.8 billion, just below the 83 billion recorded for the same period in 2022.
It's worth noting that throughout 2022 and 2023, Apple has consistently exceeded analysts' estimates, leading to positive market reactions after each earnings release.
Fitch's downgrade of the U.S. credit rating, however, may hinder the quarterly reports' ability to provide substantial help during this time of market weakness unless they deliver exceptional numbers.
As of today, the market has already factored in an optimal scenario, making it difficult for companies to surprise investors and drive significant gains in stock prices.
Amazon is also a trillion-dollar company, boasting a market capitalization of over $1 trillion. Like Apple, Amazon has exhibited consistent and stable growth since the beginning of the year, leading to impressive gains of more than 50%.
Regardin
Read more on investing.com
