Many tech companies have frozen hiring, cut costs, and laid off employees over the past several months which is unusual for these giants.
Inflation at a 40-year high push spending towards necessities and away from luxury items.
Tech firms may be forced to prioritize their core businesses and pull back on riskier spending.
These major tech companies have a significant impact on the economy, and the upcoming week’s earnings reports should prove to be interesting for the market and their future.
Three big techs Q3 earnings dates: GOOGL 10/25/22 after market close; META 10/26/22 after market close; AMZN 10/27/22 after market close; AAPL 10/27/22 after market close.