Big Six tech companies' profit momentum could 'collapse' in 2024, UBS says
by Fast Company
Fast Company— Profit growth momentum of the so-called Big Six technology stocks could “collapse” over the next few quarters, UBS Global Research strategists said on Monday, downgrading its rating on the mega-cap companies. Growth in earnings per share (EPS) of the “Big 6 TECH+” stocks—Apple, Amazon.com, Alphabet, Meta, Microsoft, and Nvidia—was projected to decline to 15.5% by the first quarter of 2025, from 42.2% estimated for the same period this year, strategists led by Jonathan Golub said. “Our...
CNBC—UBS chair says Swiss banking giant is not 'too big to fail'. Colm Kelleher also said UBS was one of the best-capitalized banks in Europe at the UBS Annual General Meeting.
ETtech.com—Big Tech says ex-ante antitrust regulations will hurt innovation. The ex-ante regulations proposed in the draft Digital Competition Bill to pre-empt certain practices is a significant departure from the current system and will come with trade-offs that have an impact on user experience and innovation like the European Union’s Digital Markets Act (DMA) had with its rigid rules, executives at a Big Tech company told ET.No matter how carefully crafted an ex-ante regime is, it will still have these negative impacts, they said, even as the government extended the...
TechCrunch—Tesla profits drop 55%, company says EV sales 'under pressure' from hybrids. Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy and “several unforeseen challenges” cut into the automaker’s bottom line. Tesla reported revenue of $21.3 billion in the first quarter, a 9% drop from the first quarter of 2023. Analysts polled by Yahoo Finance […] © 2024 TechCrunch. All rights reserved. For personal use only.