Meta, Microsoft Earnings Preview: "Valuation Is Full"

After yesterday's stellar results from Google, which sent the stock sharply higher, this afternoon we get two more tech giants - META and MSFT - reporting after the close. Here's what to expect.

First, a quick look at positioning: as we reported on Monday (in "The 10 Most Important Things Ahead Of Earnings This Week"), whereas positioning in GOOGL was relatively light ahead of earnings, the same can not be said for MSFT and certainly not for META, which is the most popular tech stock among Goldman's entire client base!