Big Tech is still on track for its biggest year of sales ever by a wide distance, but holiday issues at Apple Inc. and Amazon.com Inc. could mean a profit decline. Full earnings coverage: Apple sales missed and Amazon’s earnings were nearly cut in halfBut two other members of the five-headed Big Tech monster are poised to outperform previous expectations. All of these growth rates, with the exception of Amazon, are still better than the S&P 500 SPX, +0.19% projected revenue growth of 11.65% for the fourth quarter. Combined, the calendar fourth quarter revenue for these five companies is forecast at $412.2 billion, up 16.2% from $354.5 billion a year ago. Net income, though, will be down to single-digit growth, thanks to Amazon’s hefty spending on product fulfillment, including big employee hires.

Source: Wall Street Journal October 31, 2021 00:54 UTC