Tech companies gear up to report earnings next week

Yahoo Finance's Emily McCormick previews the tech companies set to report earnings next week, including Apple, Google, and Microsoft.

Video Transcript

BRAD SMITH: Here with a preview of the companies that we'll hear results from and guidance as well, Emily McCormick, Yahoo Finance's own. So Emily, let's run through the biggest players that are on the radar as we go into next week.

EMILY MCCORMICK: Well, as you mentioned, if you thought this past week was busy for earnings, buckle up because next week is going to be the most jam packed of this first quarter reporting season, both in terms of the number of companies reporting, as well as their market cap in the S&P 500. Now, in total, about 175 S&P 500 components, including more than a dozen Dow companies, are scheduled to report their first quarter results next week.

And for a quick overview of some of the major names, you can see many of them there on your screen. Much of the action is going to be in the middle of the week with Alphabet, Microsoft, and UPS reporting on Tuesday, Boeing, Meta Platforms, and Qualcomm reporting Wednesday, and Twitter, Roku, and Apple reporting on Thursday. So, again, this is really going to be the important week to watch for those growth and mega-cap tech stocks, especially.

Now we had a bit of an inauspicious start to tech reporting season this past week. Netflix, of course, was a massive disappointment with those subscriber losses. And Snap, Snapchat's parent company, was also a bit disappointing and reported a quarterly loss and slightly below consensus revenue. Now, many of Netflix's concerns were company specific, but with Snap, a miss does sometimes spook investors looking at other ad-driven tech companies, like a Google or Meta Platform with Facebook.

Now, Twitter also falls into this category. That's also going to be an interesting one to watch on Thursday, given Elon Musk's continued interest in purchasing and taking over this company. So we'll see whether these companies are ultimately able to clear a lowered bar for earnings. Now, we should also note that most of these big tech companies are so far underperforming the S&P 500 so far this year, a far cry from how they had once led the market in the past few years. So really, again, a lowered bar here when we think about these tech names and potentially one that we'll see cleared or not in the next coming days. Guys.