As Tech Earnings Get Underway Next Week, Most Analysts Have No Idea How Bad Things Can Get [TheStreet.com]
International Business Machines Corporation (IBM)
Last international business machines corporation earnings: 4/20 04:08 pm
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Source: TheStreet.com
The first-quarter earnings season gets underway next week for technology companies, and it will bring with it the first glimpse of an economy that could be very ugly for many of them.The world changed two thirds of the way through the March quarter, as Europe became besieged by COVID-19, and the U.S. went into lockdown. But very little of that is reflected in Wall Street’s estimates for tech companies’ revenue and profit, and the stocks have lately been zooming as if the world is turning a corner.That goes for some of tech’s biggest companies, including ones that will report starting Monday, such as International Business Machines(IBMGet ReportTXNTSLAAMZNINTCVZWall Street stock analysts have dutifully held off on changing their estimates until they hear company managements weigh in on their quarterly conference calls. That’s not a total surprise, with analysts having done the same in the Great Recession of 2008-09.That reluctance on the part of most of the analysts to predict anything
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