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On Tuesday, after the market close, three of the top four most-valued companies in the US – Alphabet, Microsoft, and Apple – would announce their quarterly results. The collective valuation of these three companies is over US$4 trillion.
Amid the pandemic, as workspaces have become virtual, technology companies have benefitted the most. Post-pandemic, everyone has been using one or other of the products of these three companies on a daily basis – from Microsoft Teams to Google Meets.
The increased importance of technology during the pandemic is well reflected in the tech-heavy NASDAQ Composite Index – which has rallied 40.85% in the past one year.
So, one of the most awaited earning calls have been those of the tech companies in the US. Here are the ones declaring results on Tuesday overnight:
Apple Inc (NASDAQ:AAPL): Analysts are expecting the earnings of the iconic iPhone and Macbook maker to be anywhere between US$65 billion to US$77 billion for the quarter ended June 2021. Apple’s revenue growth is pegged to be more than 20% higher than US$59.69 billion clocked in the corresponding period last year. Before the results, shares of Apple closed 0.29% up at US$148.99 in New York.
Microsoft Corporation (NASDAQ:MSFT): Before the results, shares of Microsoft closed 0.21% down at US$289.05 in New York. Analysts, who track the company expect the company to clock sales in the range of US$40 billion and US$45 billion for the quarter ended 30 June 2021. The market has estimated that topline of Microsoft would grow in excess of 15% in June 2021 quarter – from US$38.03 billion in the corresponding quarter last year.
Alphabet Inc (NASDAQ:GOOG): The markets are discounting a huge growth in revenues of Alphabet – the company that own search engine Google, streaming platform YouTube and Android mobile phone software, among others. This is evident from the company’s stock that surged by 1.33% to US$2,792.89 each at New York – when the market was otherwise flat. Reason? Analysts expect Alphabet’s revenues for the June quarter to be in the range of US$52 billion and US$59 billion. Many expect the company to see a year-on-year revenue growth in excess of 45% -- from US$38.3 billion it had seen in the June 2020 quarter.
