“The easy money has been made on the short side,” said Dennis Dick, head of markets structure and a proprietary trader at Bright Trading. “It’s gonna be tougher going forward.”

Big Tech’s earnings dominance is set to take a break as only four US technology firms -- Alphabet, Apple, Microsoft Corp., and Meta Platforms -- are expected to be among the top-ten earners in the latest batch of earnings reports. That’s the lowest level in at least two years, according to data compiled by Bloomberg.

Top Tech Stories

  • The US is pushing the Netherlands to ban ASML Holding NV from selling to China mainstream technology essential in making a large chunk of the world’s chips, expanding its campaign to curb the country’s rise, according to people familiar with the matter.
  • ASML shares rose in Europe, amid a broader rebound for tech shares, with analysts saying that a full China chip tool sales ban is unlikely.
  • Washington’s latest move to restrain Beijing from fostering its chipmaking industry is powering China’s semiconductor stocks as the US restrictions could fire up support for homegrown technology.
  • Some of Wall Street’s biggest brokerages have reiterated their bullish calls for Alibaba Group Holding Ltd., suggesting more gains may be in store after the e-commerce giant surged from a mid-March low.
  • Hong Kong is likely to see more dual-traded companies shift toward primary listings in the financial hub as they seek inclusion in trading links with mainland China, according to the city’s exchange chief.
  • TikTok’s admission that some China-based workers have access to data on US users provided fresh ammunition to a Republican member of the Federal Communications Commission who is trying to get the video-sharing service dropped from major app stores.
  • Broadcom Inc.’s $61 billion deal for VMware Inc. will move forward after a rival bidder failed to emerge to break up the deal for the cloud-computing company during its so-called “go-shop” period, according to people familiar with the matter.

-With assistance from Bailey Lipschultz and Tom Contiliano.

This article was provided by Bloomberg News.

First « 1 2 » Next