FAMAG (+TSLA) quarterly earnings: everything you need to know
Below are two tables to have at hand as we look forward to earnings for the FAMAG companies for the quarter ended December 30, 2022. I also included Tesla along with the five FAMAG companies since TSLA can be a “sentiment-shifter” and is reporting this week on Wednesday, following Microsoft’s release on Tuesday. Below the two tables are links to the management calls which will take place after the earnings releases of each company.
Below are links to the management webcasts which will follow each company's earnings release. These are presented below in chronological order ("AMC" is "after market close").
Microsoft (MSFT), Jan 24 (AMC) MSFT post-earnings management discussion here
Tesla (TSLA), Jan 25 (AMC) TSLA post-earnings management discussion here
Meta Platforms (META), Feb 1 (AMC) META post-earnings management discussion here
Apple (AAPL), Feb 2 (AMC) AAPL post-earnings management discussion here
Amazon (AMZN), Feb 2 (AMC) AMZN post-earnings management discussion here
Alphabet (GOOG), Feb 2 (AMC) GOOG post-earnings management discussion here
Although influential, the five FAMAG companies are not as influential as they once were as far as the various indices, like the S&P 500. Back in early January 2022 (one year ago) – when I last looked at the relevancy of these five tech giants – these companies had combined market value of over $10 trillion, representing over 25% of the S&P 500 index. Just more than one year later on January 20, 2023 (Friday), the same five stocks had collective market value of $6.5 trillion, a 35% decline in one year. They account as of Friday for 19.6% of the S&P 500 index, so collectively, are slightly less influential than they used to be (although still very relevant).
One last thing to note is that all five mega-tech companies are in the process of adjusting their cost structures to better align their costs with the return to more normal demand / growth trajectories following the unexpected growth spurt caused by the abnormalities of the pandemic (and associated easy monetary policy). This has involved tens of thousands of layoffs across the FAMAG companies, and there is no indication that the cuts are done.