The four tech giants (Apple, Amazon, Facebook, Alphabet) are reaping in tons of profit this year.The companies are valued at $1.8 trillion combined. All four will report their earnings for the quarter next week.
These four tech giants may boost the Nasdaq, the American stock market, to an all-time high. Nasdaq is only 3% away from last year’s high at 5,232.
Microsoft is setting an example with its new cloud business reaping profits. Microsoft reported an increase of 5% and surpassed an all-time high back in December 1999. If you combine Microsoft’s $440 billion market value to the other four tech giants, it will amount to at least $2.2 trillion.
Apple, on the other hand, is not doing so well. Apple stock has declined by 6% and stocks may drop more due to the iPhone’s waning popularity. Market analysts are expecting a dip in revenue for the quarter. At this rate, Apple’s CEO, Tim Cook, will have to convince investors to stay with something other than the iPhone.
Amazon is having an amazing year and is anticipating an all-time high and Amazon’s Prime Day sales are the cause. Analysts are estimating a six-fold increase in revenue.
Although Alphabet is down by 3% this year, it may change with analysts estimating a 15% increase for Alphabet. Alphabet, however, needs to beat analyst predictions to get back on track.
Facebook is best off in comparison to the other tech giants. Facebook recently hit one billion users on Messenger and Facebook continues to expand. With this milestone, analysts predict that sales will increase by 50% and revenue will skyrocket up to 60%.
If these tech giants meet our high expectations, Nasdaq will be on the road to a new record high.