Technology powerhouse Alphabet<\/a> Inc. thrilled investors during the bull market by consistently reporting stronger-than-expected sales and earnings. Those days are over.
Disappointing quarterly updates from the Google<\/a> parent, as well as Microsoft<\/a> Corp. and semiconductor giant Texas Instruments Inc., triggered a selloff threatening to wipe more than $400 billion in market value off some of the biggest US companies. The news is foiling bets that this year’s $5.5 trillion selloff in tech stocks<\/a> had reached bottom.
The quarterly updates underscored growing pressure on everything from corporate IT budgets to digital ad spending and chips for industrial machinery. The Nasdaq 100 Index dropped 2.3% as the results refocused investor attention on the damage to earnings and the economy from the Federal Reserve’s rapid interest rate hikes.
“The global economy is at a tipping point,” said Jessica Amir, strategist at Saxo Capital Markets. “The stronger dollar will continue to hurt businesses’ forward earnings, at a time when consumer demand is likely to fall with the reverse wealth effect expected to grip markets. Pressure remains on riskier asset classes such as tech.”
Alphabet now has reported three straight quarters of disappointing earnings per share, according to data compiled by Bloomberg<\/a>, the longest such streak in seven years. Prior to this year, the company had beaten estimates nine quarters in a row, and had only missed once since the end of 2017.
Analysts and investors have been too optimistic this year about other tech giants reporting this week: Facebook parent Meta<\/a> Platforms Inc. and Amazon<\/a>.com Inc. each have missed on revenue in three of the past four quarters, the data show. Meta publishes earnings after the market closes Wednesday, with Amazon and Apple Inc. to follow on Thursday.
Signs of weakness were widespread in Tuesday’s results. Microsoft posted its weakest quarterly sales growth in five years, throttled by the surging dollar, slumping PC demand and faltering advertising revenue.
Microsoft’s forecast points to a serious slowdown, said Anurag Rana, an analyst at Bloomberg Intelligence.
“This guidance is worse than we had anticipated and shows that enterprise IT spending is decelerating at a faster pace amid rising economic woes,” Rana said.
At Alphabet’s most important financial engine, the search and related businesses, sales rose less than analysts estimated as spiraling inflation crimped growth in digital advertising. Microsoft sank 7.7% while Alphabet declined 9.1% for its worst day since March 2020.
The selloff extended to other consumer and tech giants, with Amazon dropping 4.1%. Those that derive sales from online advertising followed Alphabet lower, with Meta and Pinterest Inc. dropping 5.6% and 2.4%, respectively.
The Nasdaq 100 has plunged 30% this year, on course for its worst annual performance since 2008.
The demand outlook was particularly dire in the semiconductor industry, which had been one of the hottest sectors during the pandemic. Texas Instruments, whose chips go into everything from home appliances to missiles, saw shares tumble after its weak forecast signaled that the chip slump is spreading beyond computing and phones into other businesses. The stock lost 2.7%, while Analog Devices Inc. and Marvell Technology Inc. also dipped.
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字母,微软火花4000亿美元的大型股暴跌
字母已连续三个季度报告令人失望的每股收益,根据彭博社采集数据显示,七年来最长的纪录。在今年之前,公司已经被估计连续九个季度,并且只错过了一次自2017年底。
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由Subrat Patnaik和瑞安Vlastelica
科技强国字母公司激动投资者牛市期间,一直公布强于预期的销售和收益。那些日子一去不复返了。
令人失望的季度更新谷歌父母,以及微软公司和德州仪器半导体巨头公司,引发了抛售威胁要擦掉一些超过4000亿美元的市值最大的美国公司。这个消息乐动扑克是挫败抛售押注今年的5.5万亿美元科技股达到底部。
季度更新了越来越大的压力,从企业的IT预算为工业机械数字广告支出和芯片。纳斯达克100指数下跌2.3%,结果将投资者的注意力重新集中在这一损失收入和经济从美国联邦储备理事会(美联储,fed)的快速加息。
“全球经济正处于一个转折点,”杰西卡说阿米尔,策略师盛宝资本市场。“美元走强会继续伤害企业的市盈率,当消费者需求与反向财富效应可能会下降将控制市场。压力仍在科技等风险较高的资产类别。”
字母已连续三个季度报告令人失望的每股收益,编制的数据显示布隆伯格,七年来最长的纪录。在今年之前,公司已经被估计连续九个季度,并且只错过了一次自2017年底。
分析师和投资者过于乐观今年其他科技巨头本周报告:Facebook的父母元平台公司和亚马逊com公司每一个错过了三过去四个季度的营收,数据显示。元周三美国股市收盘后公布财报,亚马逊和苹果公司(Apple inc .)周四跟随。
疲软的迹象是普遍在周二的结果。微软发布了其薄弱的季度销售增长在过去5年中,压制美元飙升,PC需求下滑和摇摇欲坠的广告收入。
微软的预测指出,一个严重的经济放缓,分析师Anurag Rana说,彭博社的情报。
“这指导比我们预期,表明企业IT支出减速速度随着不断上升的经济困境,“Rana说。
在字母表最重要的金融引擎,搜索和相关业务,销售增长低于分析人士估计数字广告的螺旋式通胀抑制了经济增长。微软股价下跌7.7%,而字母下降9.1%,2020年3月以来最糟糕的一天。
抛售扩展到其他消费者和科技巨头,亚马逊下降了4.1%。那些销售来自在线广告跟着字母较低,与元Pinterest inc .)下跌5.6%和2.4%,分别。
Nasdaq 100指数今年已下跌30%,自2008年来最严重的年度业绩。
半导体行业的需求前景特别可怕,被流感大流行期间最热门的行业之一。德州仪器公司的芯片进入从家用电器到导弹,股票大跌后其脆弱的预测暗示,计算和手机芯片衰退蔓延到其他企业。股票下跌了2.7%,而模拟装置inc .)和Marvell Technology inc .)也下降。
科技强国字母公司激动投资者牛市期间,一直公布强于预期的销售和收益。那些日子一去不复返了。
令人失望的季度更新谷歌父母,以及微软公司和德州仪器半导体巨头公司,引发了抛售威胁要擦掉一些超过4000亿美元的市值最大的美国公司。这个消息乐动扑克是挫败抛售押注今年的5.5万亿美元科技股达到底部。
季度更新了越来越大的压力,从企业的IT预算为工业机械数字广告支出和芯片。纳斯达克100指数下跌2.3%,结果将投资者的注意力重新集中在这一损失收入和经济从美国联邦储备理事会(美联储,fed)的快速加息。
“全球经济正处于一个转折点,”杰西卡说阿米尔,策略师盛宝资本市场。“美元走强会继续伤害企业的市盈率,当消费者需求与反向财富效应可能会下降将控制市场。压力仍在科技等风险较高的资产类别。”
字母已连续三个季度报告令人失望的每股收益,编制的数据显示布隆伯格,七年来最长的纪录。在今年之前,公司已经被估计连续九个季度,并且只错过了一次自2017年底。
分析师和投资者过于乐观今年其他科技巨头本周报告:Facebook的父母元平台公司和亚马逊com公司每一个错过了三过去四个季度的营收,数据显示。元周三美国股市收盘后公布财报,亚马逊和苹果公司(Apple inc .)周四跟随。
疲软的迹象是普遍在周二的结果。微软发布了其薄弱的季度销售增长在过去5年中,压制美元飙升,PC需求下滑和摇摇欲坠的广告收入。
微软的预测指出,一个严重的经济放缓,分析师Anurag Rana说,彭博社的情报。
“这指导比我们预期,表明企业IT支出减速速度随着不断上升的经济困境,“Rana说。
在字母表最重要的金融引擎,搜索和相关业务,销售增长低于分析人士估计数字广告的螺旋式通胀抑制了经济增长。微软股价下跌7.7%,而字母下降9.1%,2020年3月以来最糟糕的一天。
抛售扩展到其他消费者和科技巨头,亚马逊下降了4.1%。那些销售来自在线广告跟着字母较低,与元Pinterest inc .)下跌5.6%和2.4%,分别。
Nasdaq 100指数今年已下跌30%,自2008年来最严重的年度业绩。
半导体行业的需求前景特别可怕,被流感大流行期间最热门的行业之一。德州仪器公司的芯片进入从家用电器到导弹,股票大跌后其脆弱的预测暗示,计算和手机芯片衰退蔓延到其他企业。股票下跌了2.7%,而模拟装置inc .)和Marvell Technology inc .)也下降。
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