Tech stock rebound faces doubters with earnings season ahead

Published by
Reuters

By Lewis Krauskopf NEW YORK (Reuters) – A spate of earnings reports in coming weeks is set to test a recent bounce in technology and other megacap stocks, a category whose leadership position in U.S. markets has faltered after last year’s deep selloff. The tech-heavy Nasdaq 100 index has gained over 3% in 2023, double the rise for the S&P 500. Shares of some megacap companies – which include those grouped outside of tech in sectors like communication services and consumer discretionary – have shot higher, with Amazon, Meta Platforms and Nvidia posting double-digit percentage increases. Several…

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