Six of the largest tech companies are expected to see earnings growth slow over the next year, leaving room for other companies to lead the next leg of the stock market rally, UBS analysts say.
The Nasdaq 100 index, as tracked by the Invesco QQQ Trust (NASDAQ:QQQ), ended Monday 1% higher, breaking a three-day losing streak as traders prepare for a crucial week of earnings reports from some of the tech sector’s most influential names. This week’s earnings lineup features four Magnificent Seven giants like Tesla Inc. (NASDAQ:TSLA), which will report on Tuesday, followed by Meta Platforms Inc. (NASDAQ:META) on Wednesday, and both Microsoft Corp. (NYSE:MSFT) and Alphabet Inc. (NASDAQ:GOOGL
Ark Invest has made some bold calls that have proved correct, but they have not made up for its misses.