Summary:
- Apple stock prices are facing pressure amidst lockdown in China causing concerns over supply.
- Amazon stock prices are being heavily affected by current market sentiment.
Apple stock prices are declining despite investor confidence in their Q1 earnings announcements.
In general market sentiment is showing bearish signals, but this negative sentiment is lying heavily on BigTech stocks, this sentiment runs so deep that buying BigTech stocks almost makes sense. According to some analysts, the sentiment on tech stocks is so bad at the moment that there has to be an end in sight coming soon.
After the market close today, we can expect Apple (APPL) to announce their earnings reports.
After the market close today, we can expect Apple (APPL) to announce their earnings reports. The Apple stocks have been falling drastically over the past week inlight of uncertainty around the lockdowns in China and how they will affect the second quarter's earnings. However, investors do expect the earnings from Apple’s first quarter to be favourable.
APPL Stock Price Chart
Amazon (AMZN) earnings report due later today.
There is a lot of weight that has been riding on the tech companies earnings announcements this week, with amazon due to make their earnings announcements later today along with Apple, the market sentiment is bearish. Even if all the Q1 earnings announcements from the BigTech companies were favourable (which has not been the case), the market would still struggle to recover from the current negative sentiment.
Over the past week the price of Amazon's stock has been falling over the past week inlight of the negative market sentiment.
With the employees from one of the warehouses of Amazon lobbying to unionise, increasing prices and supply problems could be indications of potential earnings struggles for this tech giant.
Amazon.com Price Chart
Read next: (MSFT) Microsoft and (GOOGL) Alphabet's (Google) Earnings Announcements Due Later Today
Sources: finance.yahoo.com, barrons.com, fastcompany.com
