Prominent Apple Analyst Says Worst Yet To Come For Tech Stocks

Apple Inc AAPL analyst Ming-Chi Kuo said the worst is yet to come for tech stocks.

What Happened: The Taiwan-based Apple watcher had earlier tweeted that “no one cares about big tech earnings anymore.”

In a later tweet, he said, “I think the worst for tech stocks may be yet to come.”

However, I think the worst for tech stocks may be yet to come. https://t.co/Uq5EZUc0rF

— 郭明錤 (Ming-Chi Kuo) (@mingchikuo) April 26, 2022

See Also: How To Buy Apple (AAPL) Shares

Why It Matters: Kuo said this week that the Tim Cook-led Apple may not issue third-quarter guidance if there is no significant improvement in Chinese manufacturing. 

Apple’s earnings are due Thursday. The Street expects earnings per share to amount to $1.43, according to Benzinga data. 

On Tuesday, Apple-rival Microsoft Corporation MSFT saw its third-quarter revenue rise 18% year-over-year to $49.4 billion beating an estimate of $49.03 billion. 

Google-parent Alphabet Inc GOOGL GOOG reported a rare earnings per share miss on the same day. Alphabet's first-quarter earnings per share amounted to $24.62, falling short of an estimated $26.11 number.

Read Next: This Investor Prefers Meta Stock Over Amazon And Microsoft: Here's Why