Apple, Big Tech under pressure with Nasdaq 100 on pace for worst month since 2008 financial crisis

Big Tech companies like Apple and Microsoft, which are due to report their results next week, have come under additional pressure, with the Nasdaq 100 now on pace for its worst month since the 2008 financial crisis.

stocks

Ryan Vlastelica for Yahoo Finance:

A grim outlook from streaming giant Netflix Inc. was the latest excuse to sell the industry’s shares. Amazon.com Inc. and Facebook parent Meta Platforms Inc. were down over 20% from their records.

More than $1.7 trillion in value has been erased from the Nasdaq 100 in January, with the tech-heavy gauge entering a correction this week after falling more than 10% from a recent peak. The industry that has powered the bull-market rally from the depths of the pandemic has recently suffered on concern that skyrocketing valuations, the potential for slowing earnings and Federal Reserve tightening will make it harder to justify more gains going forward.

Netflix cratered more than 20% Friday after saying it expects to add just 2.5 million users in the current quarter — well short of Wall Street’s estimates. The selloff sent the stock to its worst session in almost a decade. Tech shares in the S&P 500 and a gauge of chipmakers had their biggest weekly losses since the onset of the pandemic.

MacDailyNews Take: Perhaps Apple will again provide quarterly guidance, giving AAPL investors some foundational stability when the company reports Q122 results on January 27th. Analysts’ consensus expects the company to earn $1.88 a share on all-time record quarterly revenue of $118.2 billion.

Yes, that’s $118.2 billion in 90-odd days.

For some perspective, both Bank of America and Target posted annual revenue of around $93.5 billion in 2021.

We’ll have Apple’s results for you as soon as they are released, just check our homepage right around 1:30 p.m. PT / 4:30 p.m. ET on January 27th. We will follow that with live notes from Apple’s’ conference call starting at 2:00 p.m. PT / 5:00 p.m. ET on the 27th.

Interns: Please, please, please, TTK! Prost, everyone!

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15 Comments

      1. Gotta love those formal official legitimate investigative reports. They are always so formal official and legitimate… until they aren’t. Take for example, the formal legitimate investigative Mueller Report. What came of that? Nothing. How about the two legitimate basement impeachment farces that were closed to the public? What came of them? Nothing.

  1. As I mentioned in another article post, don’t look at your 401k, don’t look at any long term investments, just as seeing the big up of 2021 and now the big down so far for 2022 — long term investing is not measure over a year. Now any short term investments? They might be best on the sideline or on the short side.
    The market goes in one direction until it doesn’t, then it might range until it doesn’t, then it goes in another direction until it doesn’t. This is the market but the overall long trend will be up.

  2. When CNN is even – on air mind you – asking whether we were better under Trump?… of course, when CNN was on their bash + train to hate Trump for 4 years their rating were sky high. Now they can’t scrape anything together other than airport displays and a few gyms for viewer ship.

    So yes, for CNN they were certainly better with Trump around. But was the country?

    Biden shouts down XL oil pipeline work in the US, but takes off Trump’s Sanctions of The Nordstrom’s 2 pipeline so Russia can bypass selling oil to Germany through Ukraine, and more of it, enriching Russia, and allowing Russia to be free and clear to attack Ukraine (if they did attack Ukraine without Nordstream 2 in place, Ukrain would blow up the pipeline running through the country – thus keeping z Russia playing nice). If you don’t like war or unnecessary wars or stupid wars or allowing communist countries to gain more power in territory, and Russia does attack Ukraine? This is all on Biden. Why shut down oil production in the United States and allow Russia to pump more of it? If you’re environmentalist this is hypocritical. On a Geo political front its idiocy and will cost more lives needlessly.
    Afghanistan. I need not even explain that I should hope.
    Inflation. Only one entity can create inflation. The government. And if I need to explain this in multi paragraphs then just quit reading because you don’t understand much, yet. Maybe you’re young maybe you’re just uneducated – go find out how inflation is created. Joe’s done everything to put those conditions in place. A few “free “thousand dollars to you or your family from Joe Biden a year ago? That’s all been eating up by inflation and it’s going to be eaten up year over year over a year from now to eternity. Not such a great deal was it.
    The southern border is a mess. This country was made by immigrants. Awesome. It still can be enhanced by immigrants easily more so. What cannot happen is illegals pouring into the country with the drug cartels making record numbers and becoming even more powerful, along with children being sold into sex slavery and beyond. That cannot happen. Legal controlled immigration is great. Unfettered, no borders illegal immigration? It’s literally killing people not just the people trying to get here it’s disastrous and Joe is doing nothing about it. That isn’t compassionate, it’s about power. He wants to eventually turn those people into voters and give them handouts. That’s not compassion either that’s just flat out sick.

    We can go on and on about policy. Hate Trump, I don’t like his narcissistic personality, but his policies ran circles around the Biden regime.

    1. It’s so strange, with all the bad situations you’ve been describing in the economy, some people still don’t want to see it. They are sleeping, they will never wake up. So sad!.

    2. Yes, you hit all the main points.

      Trump a first time politician as president absolutely schooled Biden a 50-year SWAMP politician that knows NOTHING regarding running businesses or the country. All the career politicians know how to do is fill their bank accounts with lobbyist and influential deal money and then protect them and couldn’t give a rat’s arse about the American people.

      I knew Biden was incompetent, but my God, EPIC PROPORTIONS. Two years and he is history…

  3. Thanks Biden, we appreciate it. Nothing like taking a thriving economy and destroying it out of spite or something more nefarious. I was alive during Carter’s economic crisis, and Obama’s economic crisis, and this under Biden – this is new. This is precedent. We have not since the Great Depression (and stop pretending that makes sense to you, Gen Z, when even your grandparents have no direct experience at this point) seen this level of potential entropy that will result in collapse. Thanks a lot Biden, and everyone that voted for him. This didn’t have to happen. Feelings overruling logic has officially met it’s ultimate outcome and hopefully its endpoint. Like it or not, reality as a human and life on earth eventually must be confronted, and it isn’t always like being high on ecstasy.

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