Tech Earnings Season Could Lift Stocks Out of January Slump As AI Fuels Chip Demand and Apple Growth Outlook
-
Tech sector earnings over the next few weeks, representing nearly 30% of the S&P 500, will be key to bringing the market out of its January slump.
-
Taiwan Semiconductor's earnings beat estimates, citing AI demand fueling 20% revenue growth in 2024. This sent chip stocks higher.
-
An upgrade on Apple stock from Bank of America cites AI and its new Vision Pro headset as growth drivers. This helped lift tech stocks.
-
Tech companies have cut costs and managed margins well recently. More positive outlooks this earnings season could lift stocks.
-
For now, tech is leading the market higher as the sector best positioned to deliver earnings growth despite macro uncertainty.