Admittedly, this week was the biggest of the quarter with 4 of 7 “Magnificent 7” announcing including Meta, Apple, Amazon and Microsoft.
How did those stocks do this week?
2 up and 2 down, with Amazon the worst performer as they missed on revenues (first miss in over 2 year). They also see less robust growth ahead. A summary of the changes this week and the change from the all-time highs shows:
Meta +4.78%. Shares are down -10.20 from all time highs. Apple +1.98%. Shares are down -6.4% from all time highsAmazon, -8.55%. Shares are down -16.62% from all time highsMicrosoft -4.69%. Shares are down -13.21% from all time highs
Last week Alphabet and Tesla reported. Both also declined this week:
Alphabet -1.13%. That comes after a -6% decline last week. Shares are down -13.8% from its high. Tesla -5.55%. Last week, the stock fell -8.11%. The stock is down -23.32% from the high.
Nvidia does not report until August 28th. However, that has not stopped it from moving sharply lower despite talk of increased capital spending. The stock is down -6.25% this week and down -24.82% from all-time highs.
Next week, the earnings will be led by Uber, Caterpillar, Super Micro Computers, Shopigy, and Disney. Below is the full list of the key releases scheduled.
Monday
Before Open:
Berkshire HathawayThe Carlyle Group
After Close:
Palantirhims & hersLucidCSX
Tuesday
Before Open:
UberCelsiusCaterpillar
After Close:
SuperMicroRivianAirbnbWynn Resorts
Wednesday
Before Open:
ShopifyWalt DisneyCVS Health
After Close:
Robinhood
Thursday
Before Open:
LillyPlug PowerDatadog
After Close:
ParamountDutch Bros
Friday
Before Open:
AMC Networks
This article was written by Greg Michalowski at www.forexlive.com.
