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Despite tech selloff, earnings look strong -analyst - Yahoo News UK

Author: analyst

Source: https://uk.news.yahoo.com/despite-tech-selloff-earnings-look-201128662.html

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STORY: Roughly half of the S&P 500 companies have reported results so far, with more than 77% exceeding results estimates."Even the big tech names came in pretty strong," says Mayfield, who attributes the selloff to "a high bar to clear" for tech companies along with their lofty valuations."But about halfway through an earnings season," says Mayfield, "you have a beat rate that's high, and you're beating by more than average.So you can't really ask for much more against the backdrop of higher interest rates, geopolitical turmoil, sticky inflation - all of the macro headwinds."

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