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US stocks are under pressure Tuesday after Google's parent Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) fell sharply on disappointing quarterly figures. To these negative sentiments was added a report on manufacturing activity in China.
All eyes are turning to Apple (NASDAQ:AAPL), which will report the results after the close. Analysts expect profit of $ 2.36 per share for a $ 57.4 billion business figure, as the iPhone maker prepares for a new update of its iPhone later this year. Competitive pressure accentuates again, with the arrival in the market of peers equipped with folding screen phones.
Speaking of competitive pressures, Alphabet warned that competitive pressures weighed on the amount it could bill for advertising – a dynamic that threatens much of the advanced technology market. In fact, a number of big tech stocks are already showing signs of weakness. Here is Alphabet and three others to avoid:
Alphabet (GOOG)
Shares of Google's parent company, Google Alphabet, are back below their 50-day moving average on Tuesday, down more than 8% as I write this in response to disappointing quarterly results. The decline came a few days after the technology title eclipsed its previous record of almost $ 1,275 set last summer to reach a new record.
The company announced after the close last night a profit of $ 9.50, down 94 cents from forecasts, despite a 16.7% increase in revenue. Paid clicks ads were down 9% from the previous quarter, while cost per ad impression decreased 14%. The company will report its results on July 29 after closing.
Intel (INTC)
Intel (NASDAQ:INTC) are down almost 14% from their last peak, which is below their 50-day moving average to close the 200-day average reached at the end of February. The shares have been under pressure after management issued disappointing guidelines, CEO Bob Swan telling CNBC last week that China's request had cooled and admitted that it was not entering the gain of 5G smartphone modem after being burned by Apple.
The company will report its results on July 25 after closing. Analysts expect earnings per share of 90 cents for a $ 15.6 billion business figure. In the company's latest April 25 report, earnings per share were 89 cents per share.
You're here (TSLA)
There is hardly any more dramatic stock to follow than You're here (NASDAQ:TSLA), with Elon Musk, Mercurial's CEO, ever-changing business plans and persistent problems with model 3 manufacturing. Stocks have struggled in recent days, abandoning a three-year trading range to return to record levels seen in early 2017.
The company will report its results on July 31 after closing. Analysts expect a loss of 35 cents per share for a turnover of $ 6.3 billion. The last time the company released its results on April 24, a loss of $ 2.90 per share was missing estimates of $ 1.93 on a 33.2% increase in revenue. The company has released a second-quarter decline forecast, but the return to profitability forecast for the third quarter is expected with the start of production of the small model Y-SUV.
IBM (IBM)
Actions of IBM (NYSE:IBM) fell below their 50-day moving average, establishing a breakdown to test the 200-day moving average at the beginning of February. The shares remain stuck in an epic side channel and down since the beginning of 2012 as management struggled to post steady growth in its turnover. A recent $ 34 acquisition of Red Hat (NYSE:RHT) shows that management is still trying to gain a secure footing in the cloud sector.
The company will report its results on July 17 after closing. Analysts expect earnings per share of 3.10 USD for a business turnover of 19.2 billion USD. The last time the company released its results on April 16, earnings of $ 2.25 far exceeded expectations estimated by a 4.7% decline in revenue.
At the time of writing this article, the author did not hold any positions on the aforementioned titles.
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