As the big tech companies prepare to announce their earnings, Apple is poised to exceed expectations from the figures seen previously. The companies expected to announce their results this week include tech giants Amazon, Alphabet, Microsoft, Facebook and Apple. These companies which constitute over 40 percent of the Nasdaq 100 are keenly watched as they are indicators of the state of the tech industry.
According to Craig Johnson, an analyst at Piper Jaffray, Apple is among the companies to look out for in this year’s earnings release period. He added that the tech giant has managed to survive a tough market even as the S&P 500 soared to new heights this year. Last week’s drop of4 percent in Apple’s shares was the worst since September. The slump was occasioned by reports of a slowdown in sales of the iPhone which remains the biggest sales driver for the company.