US “Big Tech” earnings preview: FB, MSFT, GOOG, AMZN, and AAPL in focus

Below, we outline the key dates, expectations, and technical trends to watch on each of these tech behemoths...

Apple

On the back of yesterday’s exploration of the three key themes to watch for the US Big Tech / FAAMG stocks this earnings season, we wanted to add a bit more color to the individual shares and their technical outlooks. Below, we outline the key dates, expectations, and technical trends to watch on each of these behemoths:

Facebook (FB) earnings technical analysis

Report date: October 25 after the close

Expectations: $3.16 of EPS on $29.5B in revenue

Unlike most of its FAAMG rivals, Facebook (FB) has seen a notable pullback from its early September record highs. As of writing, FB is in the midst of a -15% dip but finding some support at its rising 200-day EMA. Moving forward, that will be a critical level of support to watch, with a break below that zone (currently around $320) opening the door for a deeper pullback if earnings disappoint.

FXFB10202021

Source: StoneX, TradingView

Microsoft (MSFT) earnings technical analysis

Report date: October 26 after the close

Expectations: $2.06 of EPS on $44.0B in revenue

For its part, the stock of Microsoft (MSFT) is arguably the strongest in the sector. Prices are at record highs as we go to press and the company sports a staggering $2.3T market capitalization, trailing only Apple (AAPL) among all publicly traded companies. From a purely technical perspective, the path of least resistance remains to the topside, especially as long as prices can hold above $305, after a sideways consolidation over the last couple months has alleviated any concerns about short-term overbought trading conditions.

FXMSFT10202021

Source: StoneX, TradingView

Alphabet (GOOG) earnings technical analysis

Report date: October 26 after the close

Expectations: $23.13 of EPS on $63.4B in revenue

The stock of Alphabet (GOOG), the parent company of Google, never seems to get particularly perturbed regardless of what’s happening in the global economy. Not surprisingly, GOOG remains in a clear longer-term uptrend and has regained its 50-day EMA after seeing a -9% dip through the month of September. Moving forward, traders will key in on the previous record close near $2920, with a break above that level on a strong earnings report clearing the way for continued gains heading into the holiday season.

FXGOOG10202021

Source: StoneX, TradingView

Amazon.com (AMZN) earnings technical analysis

Report date: October 28 after the close

Expectations: $8.72 on $111.6B in revenue

Despite its ubiquity in the day-to-day lives of millions, if not billions, of consumers Amazon.com’s stock (AMZN) has spent the majority of the last year simply treading water in the $3,000-$3,500 range. A July foray above that resistance level was short-lived and the longer-term moving averages are relatively flat, so it will take a sustained break and hold above $3500 for bulls to feel comfortable that the stock is regaining its mojo.

FXAMZN10202021

Source: StoneX, TradingView

Apple (AAPL) earnings technical analysis

Report date: October 28 after the close

Expectations: $1.23 of EPS on $84.8B

Last but certainly not least (in fact, it’s the “most” valuable publicly-traded company on the planet with a market capitalization in excess of $2.4T), Apple (AAPL) reports earnings on Thursday the 28th. From a technical perspective, the stock is in the midst of a -11% correction, though the recent price action suggests that the longer-term bullish trend remains intact. Moving forward, previous-resistance-turned-support in the $138 area will be critical to watch, with bulls comfortable adding to positions and awaiting new record highs as long as that level holds as a floor.

FXAAPL10202021

Source: StoneX, TradingView

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