Apple And Amazon Earnings Preview: "Hedge Funds Are Getting Picky"

After two swings - and two misses - by Mag7 giants Meta and Microsoft, whose stocks tumbled after earnings, the market is now on edge expecting a Hail Mary from the other two MAG 7 giants set to report after the close, Apple and Amazon.

Here is a snapshot of what to expect from this dynamic duo courtesy of Goldman tech specialist Peter Callahan:

• AAPL: At 8/10, positioning skews longer overall (though, not so much tactically given mixed smartphone datapoints & Apple largely being viewed as a 2025 story) Results typically hit ~430pm (guidance during conf call @ 5pm ET) Iinvestor expectations don’t appear to be too far from Goldman's preview (here for pro subs), with debate largely about what is priced into the current valuation (~30x CY25 P/E) relative to investor optimism around an A.I. driven ‘super-cycle’ in CY25 (iPhone 17 cycle). Note following potential issue: "Apple Intelligence is here. Early users are underwhelmed"