A black swan struck the "Big Seven" of the US stock market (Microsoft, Apple, Google, Nvidia, Amazon, Meta, Tesla), with a total market capitalization evaporating by over $960 billion USD (approximately 6.9 trillion RMB), marking the worst week in history. The catalyst for this meltdown was a major bearish signal released by AI juggernaut AMD, triggering market concerns and a frenzy of selling.

Currently, US tech stocks are facing a sell-off, with the Nasdaq 100 index recording its largest weekly decline since November 2022, dropping by 319.49 points or 2.05%. Even the darling of artificial intelligence, Nvidia, was not spared, witnessing a 10% plunge in its stock price last Friday, resulting in a market capitalization loss of $212 billion USD.

As the S&P 500 index endures its worst week in over a year, the spotlight turns to the kickoff of the US earnings season. Approximately 178 S&P 500 constituent companies are set to release their earnings this week, representing over 40% of the index's total market capitalization. However, the greatest anticipation lies with the large-cap tech companies, including Tesla, Meta Platforms, Microsoft, and Google, all of which are slated to unveil their earnings this week.

Leading the charge is Tesla from the tech giants, which will announce its Q1 2024 earnings on Tuesday. Barclays analyst Dan Levy expects Tesla's Q1 report to reveal its first negative free cash flow since Q1 2020, with a gross margin, excluding regulatory credits, potentially dropping to 14.6%, down 2.6 percentage points quarter-over-quarter.

Meta's new quarter earnings will be released early Thursday. Market expectations foresee a 26% increase in Meta's Q1 revenue, nearly doubling its net profit from the same period last year.

Microsoft is scheduled to release its earnings early Friday. Market forecasts anticipate over 15% growth in both Microsoft's Q1 revenue and profit.

Alphabet, Google's parent company, will also unveil its earnings on Friday. Despite doubts surrounding Google's AI initiatives, the market still expects nearly a 14% increase in Alphabet's Q1 revenue, with net profit expected to grow by over 30%.

Additionally, Amazon is expected to release its Q1 earnings by the end of April, while Apple and Nvidia will announce their earnings respectively in early and mid-May.

In times of market turbulence, every piece of information could lead to a successful investment. uSMART is poised to bring you the latest updates from the earnings season, keeping you ahead of the curve by focusing on the earnings releases of the four major tech giants.

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source：uSMART

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