WILL APPLE GET SQUASHED AFTER EARNINGS?
Ouch how the mighty are falling.
Tech, arguably 2013’s hottest sector, is getting hammered as investors flee last year’s best performers amidst fears of a broader market correction. And the action is causing concerns about $AAPL ahead of its earnings call this evening.
PowerShares’ Tech ETF, $QQQ, has dropped nearly 3% in the past seven days. The ETF had beaten the DOW last year, rising 31% compared to the $DJIA’s 24% gain. But Stocktwits sentiment has turned negative with more than 55% taking bearish stances. Some traders have publicly announced breakups with 2013’s hot tech numbers, such as $GOOG, calling the stocks “bloated” and “overvalued.” $GOOG dropped more than 3% intra day, but has since recovered some of its losses. It soared 55% in 2013. $TWTR fared even worse. The stock was still down 6% this afternoon.
Jan. 27 at 10:35 AM
CapCrunch Jan. 27 at 12:18 PM $GOOG today, $NFLX $AMZN $TSLA to come. A glorious, long overdue beat-down. Burst the bubble.
Such talk is fueling arguments that $AAPL is due for some pain. The company is poised to report earnings after the bell for the fiscal quarter ending 2013. The Street expects $14.04 earnings per share on $57.23 Billion in revenues, according to Estimize.com. Estimize analysts predict a bit higher: $14.38 on $57.9 Billion.
But a street beat might not be enough to change the dour mood of tech investors. Some stocktwits users argued Monday that the sell-off would eventually extend to Apple, no matter how good its earnings call.
Jan. 27 at 12:18 PM
~ via Catherine Holahan (@cholahan)
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