Shoppers at the Apple Fifth Avenue store in New York, US, on Friday, Sept. 16, 2022. The latest iPhone hits stores Friday, and Apple Inc. is counting on well-heeled shoppers to make the device a hit during a year of roaring inflation and shaky technology spending.
Shoppers at the Apple Fifth Avenue store in New York, US, on Friday, Sept. 16, 2022. The latest iPhone hits stores Friday, and Apple Inc. is counting on well-heeled shoppers to make the device a hit during a year of roaring inflation and shaky technology spending.

Stocks face brutal earnings season with all eyes on Apple, investors say

Wall Street fears that even after this year’s brutal selloff, stocks have yet to price in all the risks stemming from central banks’ aggressive tightening as inflation remains stubbornly high.
Published on

By Farah Elbahrawy

(Bloomberg) – Investors expect this earnings season to pummel stocks further and will watch Apple Inc. in particular as a bellwether of global economic conditions.

More than 60% of the 724 respondents to the latest MLIV Pulse survey say this earnings season will push the S&P 500 Index lower. That means no end in sight to the dismal run for stocks, after a tumble Friday decisively dashed hopes that the eye-popping two-day rally early last week would be the start of something bigger. About half of poll participants also expect equity valuations to pull back even further from their average of the past decade.

___STEADY_PAYWALL___

Loading content, please wait...

Related Stories

No stories found.
BizNews
www.biznews.com