Tech Up Ahead of Earnings — Tech Roundup
Shares of technology companies rose ahead of major earnings reports in the sector.
Apple, which reports earnings on Thursday, rose. Amazon.com shares rallied ahead of its earnings report Tuesday. One strategist said the online mega-store's earnings report could be scrutinized, like those of Alphabet, Microsoft and Meta Platforms, for its artificial-intelligence spending plans.
"It wouldn't surprise me if we saw something from Amazon on that," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "I'm assuming that means we're lining up good news for Nvidia: if everybody's spending more on AI, I would assume they're benefiting from that."
Tesla shares surged after the electric-car maker won conditional approval for selling its driving technology in the key market of China.
Nvidia shares were flat, having rebounded late last week.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 29, 2024 18:00 ET (22:00 GMT)
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