Tech giants Microsoft Corp., Apple Inc. and Tesla Inc. among the companies that will be in the busy employment weekend, shedding more light on how businesses performed at the end of 2020 as Covid-19 issues arose.
Overall, more than a fifth of the S&P 500 and one-third of the Dow Jones Business Average are expected to deliver their quarterly updates starting Monday, according to FactSet. In addition to tech, the album includes some of the biggest names in manufacturing, restaurants and telecommunications.
Many tech companies have seen their sales jump through the coronavirus pandemic, as more people followed their products and services while working, getting school and entertainment from home. And the strong results are expected to continue in the fourth holiday. For the first time in their individual history, Apple ‘s quarterly sales are expected to exceed $ 100 billion and Microsoft is expected to exceed $ 40 billion.
Microsoft, which reports its results in the second quarter on Tuesday, has benefited from increases at its cloud and games industries. The company recently released two new Xbox gaming consoles – Series X Box S and Series X Box X – for which they expected strong demand.
However, other parts of Microsoft’s business have faced other challenges in the pandemic, such as its on-premises server business and its social network LinkedIn, said Gregg Moskowitz, Mizuho’s senior enterprise software analyst.