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Alphabet, Microsoft, and Apple earnings — what to expect

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Myles Udland, Brian Sozzi, and Julie Hyman discuss analyst expectations for Alphabet, Microsoft, and Apple as the market waits in anticipation for these tech earnings.

Video Transcript

MYLES UDLAND: In recent weeks, of course, it has been all about the big tech trade. And this evening, we're going to get a nice update on where those businesses stand. Apple, Microsoft, Alphabet all set to report their results after the bell. AMD, as well, for the chip lovers out there. So let's just kind of go around the horn here and think about what the stories are for each of these. And Sozzi, let's start with Microsoft, because this is a company that really for the last seven years hasn't done anything wrong. The stock price-- the stock chart couldn't really paint a better picture for investors.

And it would seem right now, it's an enterprise operating on all cylinders.

BRIAN SOZZI: Very simple here on earnings day. Can Microsoft come out here clobber estimates and say good things about their forward outlook? The last quarter from Microsoft, a little squishy. I think "TheStreet" wanted more from the company. They didn't deliver. Again, they're one of those companies coming up against very strong year ago comparisons. Again, Microsoft here to get the stock moving higher. They need to come out here, smash estimates, and sound very bullish for the rest of the year.

MYLES UDLAND: Now, on the Alphabet side, Julie, I'm reminded of what we heard from Snap last week on what's happening with--

JULIE HYMAN: Yeah. That was my immediate thought too. You know, advertising, is that going to see feed through? You know, you can sort of assume it might see feed through to Facebook. Is it going to see feed through to Alphabet, though, because we know that still a lot of ad dollars are migrating online into places like Snap, but is it migrating to search? Or are ad dollars sort of being more discerning and going more to social than search? I mean, it feels like there might be enough for everybody, but I guess we'll have to wait and see what Alphabet has to say.

Because of course, remember, the vast majority of their numbers, of their revenue still comes from search.

MYLES UDLAND: Well, it's basically Google. We should be calling the company Google. Also, the ticker is still Google.

BRIAN SOZZI: YouTube here. YouTube was a big driver for first quarter results. You would think that probably strengthened quarter over quarter just based on the Snap results.

MYLES UDLAND: And another part of the Alphabet story. So maybe this is why it's not Google. We still have the Cloud products business, and there's the tie-in there with what is Microsoft seeing, how is Google thinking about that, and then, of course, we'll get Amazon's results later this week as well. And then, also, Apple coming out. They'll be out at around 4:30, so we'll get Amazon and Alphabet right around the closing bell. Apple tends to come out a little bit later. We see the expectations here on the revenue line. We see expectations on the earnings per share line.

But of course, the word everyone will be thinking of is supercycle and are we going to see one of those? I know we love our supercycles here on this program. Will we be seeing one, and how is the company talking about that, Soz, as we head into an expected iPhone release, I guess, in a month and a half?

BRIAN SOZZI: Those stories don't click.

MYLES UDLAND: Early September?

BRIAN SOZZI: They don't click anymore. In fact, we used to put supercycle in the headlines.

MYLES UDLAND: Dude, how many supercycles do we need to see before people lose interest?

BRIAN SOZZI: Yeah, I know. But I think with Apple's earnings, you know, what is the 5G uptake right now? How is the China business doing with the return of COVID?