Three months ago, Big Tech’s biggest names were caught up in a congressional hearing that was rigged by politicians for their business dominance, then paraded in front of Wall Street a day later to appease them for their financial dominance.
Someone must have enjoyed it, because it is going to happen again.
On Wednesday, Alphabet Inc. Chief executives of Google Giguel,
Google,
Facebook Inc. FB,
And Twitter Inc. TWTR,
The U.S. Senate will testify before a Commerce Subcommittee hearing, entitled, “Does Section 230’s Sweeping Immunity Enable Big Tech Bad Behavior?”
For an anchor, those three companies on Thursday afternoon earned third-lender third-quarter earnings, big tech compatriots Apple Pal Inc. Will announce with AAPL.
And Amazon.com Inc. AMZN,
The House hearing in July focused on the no-confidence motion, and it led to a scathing report that called for massive measures for the power of Big Tech. Since then, Google has been officially charged with abuse of monopoly power by the Justice Department, and Facebook is expected to face similar charges by the Federal Trade Commission in the coming weeks.
For more: After the charge against Google, there are many potential routes in the roadmap to change the distrust
At Wednesday’s hearing, the focus will be on how tech’s biggest companies will decide what content users can post on their platforms. DC politicians have threatened one of the few important laws passed on the Internet since its inception, Section 230 of the Communications Dissentation Act, which became law in President Bill Clinton’s second term and protects plat platforms from legal redress for most users. Generated content.
Full Alphabet Preview: Anti-Trust Charge casts a long shadow over Google
Google chief executive Sundar Pichai and Facebook’s Mark Zuckerberg will repeat the guests from last quarter’s hearing, while Twitter CEO Jack Dorsey will join them this time instead of Apple’s Tim Cook and Amazon’s Jeff Bezos. The next day, all three internet companies will report three-month profits of more than 13 13 billion, though, Twitter will not add more to that total.
Full Facebook preview: The focus is on cleaning up content before the election
While the hearing / earnings doubleheader will lead to a lot of headlines, it’s far from the city’s only game in the coming weeks, U.S. Third quarter earnings in the busiest week of the reporting season. The S&P 500 Index expects more than 35% of SPX revenue,
179 companies, and 30 Dow Jones Industrial Average in one-third of DJIA,
Ingredients.
Earnings will be in full swing, especially on Thursdays, when 67 companies will report results and 70 host conference calls. According to Dow Jones market data, those 70 companies account for 27% of the total S&P 500 through market capitalization.
Here’s what to see in the coming weeks.
Tech Titans
Twitter, Facebook and Alphabet Tech are big names, but they have three tech companies valued at more than tr 5 trillion: Micro Microsoft Microsoft Corp. MSFT,
Apple Pal and Amazon.
The cloud-based computing service is a big story for Microsoft .ft as the company helps power the increasingly important digital functions of COVID-19 throughout the remote world. Wedbush analyst Daniel “In many cases we are seeing businesses accelerate their digital transformation and cloud strategy with micros with ft in six to 12 months as the prospects for heavier remote employees for the near future now appear in these COVID-19 background cards.” Ives wrote ahead of the company’s Tuesday afternoon report.
Investors will have to rely on more qualitative clues to find out the initial performance of the iPhone 12, as Fiscal Play has yet to unveil its new phone lineup until its fourth financial quarter. Investors will generally use forecasts as a proxy for expected sales, but Apple has stopped providing traditional financial guidance, citing epidemic-related uncertainties over the past two reports.
Full Apple Pal Preview: Apple Pal’s earnings will lose the show’s star
With Amazon, the focus will be on what to expect for the year-end holidays. The COVID-19 crisis may push more holiday shopping online this year, but it puts more pressure on Amazon to ensure its fulfillment capacity is in order. This year’s holiday quarter is also a double whammy for Amazon, as the company has pushed back its Prime Day to October, possibly pushing further profits in the fourth quarter.
Apple Pal and Amazon report Thursday afternoon.
Big week for the Dow
One-third of the Dow Jones Industrial Average is set to report with a 3MK or MMM.
Caterpillar Inc. Kate,
And Merck & Co. Inc. MRK,
Kicking things up on Tuesday morning and bringing it back to the micros.ft in the afternoon. Amgen Inc. AMGN,
And Boeing Co. B.A.
Report Wednesday morning, Visa Inc. With V,
On the deck for lunch. Apple Paul is the only Dow member on the docket on Thursday with its next number, while Honeywell International Inc. HON,
And Chevron Corp. CVX,
Around the week with their Friday morning results
Highlights in the Dow Slate include Merck, which could discuss its COVID-19 vaccine candidate expectations, and Boeing, which announced third-quarter commercial aircraft deliveries for less than half of the company’s year-ago total. Jefferies analyst Sheila Kahyaglu notes that the company has seen a “baby step” in progress since European authorities deemed its 7,737 Max jet safe to fly.
“Resorts of 7,737 MX officially begin the process that could see Boeing’s work closing in on MA’s 16 16 billion inventory with depleted MAXs.” “This is probably the source of cash by 2023.”
Chipping removed
Rival Intel Corp. After ITTC,
Showing that it is constantly getting into trouble amid production difficulties, investors will see on Tuesday afternoon how Advance Micro Devices Inc. AMD,
Capable of capitalizing. “We believe that AMD is gaining market share in high-end notebook and desktop desktops and their progress in cloud server share should continue to be reflected in the enterprise,” Coven & Co. said. Analyst Matthew Rams wrote after the Intel report.
Full AMD preview: Still the expected benefit from Intel’s pain
Fellow Chip Company Western Digital Corp. WDC,
Reports on Wednesday afternoon, almost a month after the announcement of the restructuring, which will separate the flash and hard-disk-drive businesses into their own units. Some analysts see this as a sign of optimism that the WDC could formally split the two parts of the trade, which could “unlock the value of the stock”, according to Baird analyst Tristan Gera. During a conference call, officials may face questions about that possibility.
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