Shares fell sharply in the after-hours trading after it cut full-year guidance as inflation eats into its overall sales. It is another sign that shoppers have lesser disposable income, and related counters such as Target and Amazon suffered from collateral damage.
As food inflation hit its top-line growth, it has to mark down its prices to spur clearing its inventory, especially in apparel.
🏋The Mega-Tech Week Begins💎
The stock market will receive numerous mega-tech earnings. Coming first will be Microsoft and Alphabet today. Then we will welcome results from Meta Platforms on Wednesday, including Shopify. Finally, Thursday will see heavy-weight counters like Apple and Amazon leading the market.
🪜What are some key parameters?⏳
Pika World will be examing a few themes. One, it will be the condition of online advertisement business after SNAP gave a worrying report card last week, triggering concerns in the sector.
Next, the key idea will be on cloud spending, pivotal for Amazon Web Services and Google Cloud business.
Then, analysts will examine the e-commerce future, likely to impact Shopify and Amazon. Amazon is expected to see a y-o-y fall in online sales.
Finally, how is the impact of the strength of the US dollar impacting the overall sales?
There’s so much more on the list, and Pika World will discuss them in our following few updates.
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