00:02 Speaker A
Time now for to watch next week. Earning season ramping up for Big Tech. Two of the magnificent seven are reporting after the closing bell Wednesday, Tesla and Alphabet.
00:11 Speaker A
Tesla expected to post double digit profit and revenue growth from the same time last year. It comes after the EV maker topped estimates for second quarter deliveries.
00:20 Speaker A
One analyst eyeing a few key issues on the earnings call including the ramp up of the cybercab and the launch of the three-row Model Y.
00:26 Speaker A
As for Alphabet, investors will get a clear picture how AI is changing the tech industry and whether these companies can live up to Wall Street’s high expectations, especially after the warning from IBM.
00:35 Speaker A
Investors will be keeping an eye on Alphabet’s cloud and chips businesses, which could be another sign hyperscalers are taking away spend from other hardware companies.
00:44 Speaker A
But if there’s a sign of slowdown in CAPEX, that could be a red flag for Wall Street.
00:48 Speaker A
Other key results to watch next week, Intel, Texas Instruments, GM, American Express and Verizon.
00:54 Speaker A
It is a light week for economic data. We’ll get weekly readings on initial jobless claims and mortgage rates on Thursday, and on Friday, we’ll get new home sales for the month of June.
