Earnings Outlook for Major Tech Stocks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: CNBC
- Earnings Outlook: This week’s earnings from major tech stocks are crucial for major indices, particularly as the 'Magnificent 7' constitute about one-third of the S&P 500, with market focus on their earnings reactions.
- META Technical Setup: Meta Platforms (META) successfully retested cloud support last week, with an upturn in weekly stochastics and improved MACD histogram indicating upward momentum; a breakout above $681 could lead to a retest of the $796 all-time high.
- MSFT Support Levels: Microsoft (MSFT) also tested cloud support last week and shows potential for an oversold rebound; a decisive breakout above the $481-$485 resistance zone would pave the way for a rise towards the $555 all-time high.
- AAPL Technical Trends: Apple (AAPL) has pulled back recently, generating an intermediate-term oversold condition, and if it breaks above the $275 resistance, it may indicate that the correction has matured, although current momentum remains weak with support at $235-$243.
Analyst Views on META
Wall Street analysts forecast META stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for META is 824.71 USD with a low forecast of 655.15 USD and a high forecast of 1117 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
44 Analyst Rating
37 Buy
6 Hold
1 Sell
Strong Buy
Current: 658.760
Low
655.15
Averages
824.71
High
1117
Current: 658.760
Low
655.15
Averages
824.71
High
1117
About META
Meta Platforms, Inc. is building human connections, powered by artificial intelligence and immersive technologies. The Company's products enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) and mixed reality (MR) headsets, augmented reality (AR), and wearables. It also helps people discover and learn about what is going on in the world around them, enabling people to share their experiences, ideas, photos, videos, and other content with audiences ranging from their closest family members and friends to the public at large. The Company's segments include Family of Apps (FoA) and Reality Labs (RL). FoA segment includes Facebook, Instagram, Messenger, WhatsApp and Threads. RL segment includes its virtual, augmented, and mixed reality related consumer hardware, software and content. Its product offerings in VR include its Meta Quest devices, as well as software and content available through the Meta Horizon Store.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
