Stocks were down across the board on Friday morning, but tech stocks felt the brunt of the selling after sector bellwethers Amazon (AMZN – Free Report) and Alphabet (GOOGL – Free Report) disappointed investors with their latest quarterly earnings reports.
It was a busy week for earnings and a volatile week for Wall Street, which struggled to find a direction as positive results from the likes of Microsoft (MSFT – Free Report) and Tesla (TSLA – Free Report) were overshadowed by external headwinds and disappoint elsewhere.
So the market leaders, especially in the tech sector, delivered a mixed bag over the past few days, but where do we go from here? Have investors found a bottom, or will volatility continue through the remainder of Q3 report season?
We can’t know these answers confidently, but we can prepare as thoroughly as possible.
Let’s take a closer look at a few of the tech sector’s marquee reports due during the week of October 29.
1. Ebay Inc. (EBAY – Free Report)
E-commerce platform Ebay will report its latest quarterly earnings results after the market closes on October 30. Ebay shares have struggled to generate any positive momentum this year, and after recent selling, the stock is now down more than 26% since the start of 2018. Investors will hope a positive report can turn things around.
Analysts are expecting eBay to report earnings of $0.55 per share and revenue of $2.65 billion, according to our latest Zacks Consensus Estimates. These results would represent year-over-year growth of 15% and 10%, respectively. eBay has witnessed five negative revisions and just one positive revision for the to-be-reported quarter’s estimates in the past 60 days.
2. Facebook, Inc. (FB – Free Report)
Social media king Facebook is set to release its most recent quarterly earnings report after the closing bell on October 30. Facebook has been hammered this year, not just by recent market-wide volatility, but also because of rising costs and public backlash associated with a number of data privacy scandals.
