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Technology is set to be this week's hottest ticket on Wall Street as Amazon, Alphabet, Snap, Twitter and Microsoft go head-to-head

This Thursday is set to be a battle of the technology heavyweights, as behemoths Amazon, Alphabet, Snap and Twitter, report…

This Thursday is set to be a battle of the technology heavyweights, as behemoths Amazon, Alphabet, Snap and Twitter, report their quarterly results.

Both Amazon and Alphabet, Google’s parent company, trounced consensus estimates last quarter , with Amazon really shaking up the game on Wall Street with earnings per share rising over 1,157 percent year-on-year in July. But now that the companies have a solid track record of far exceeded expectations, investors could lose faith in the duo if they do not achieve those elephant-sized leaps again.

For Amazon, consensus estimates polled by S & P Global Market Intelligence have predicted revenue to fall at the top of the company’s guidance at $ 57.1

bn (£ 43.7bn). Profit before tax is expected to be a conservative $ 1.9bn, although Amazon beat estimates last quarter by 68 percent to report profits of $ 2.6bn.

Alphabet, on the other hand, is expected to pull in revenue of $ 34bn, at a growth rate of 23 percent growth compared to the same period in 2017. Additionally, the EU’s $ 5bn antitrust fine is predicted to continue to weigh heavily on the company’s profits.

Read more : Amazon doubles down

Analysis from investment firm Hargreaves Lansdown said it is expecting a showdown between the two companies in the cloud computing sector, as Alphabet strives to push Amazon off the global top spot by plugging more investment into the division. Alphabet said its biggest headcount additions were in its cloud business last quarter, while Amazon’s Web Services has historically proven to be its largest profit engine.

Devices will also prove an interesting battlefield, as Amazon chief Jeff Bezos’ Alexa ambitions go head- to-head with Google’s revamped smart home and phone tech updates.

Meanwhile Snap and Twitter are in for a rockier ride, having both disappointed investors at their last call in July. Though Twitter posted its first quarterly profit earlier this year and Snap Chief Evan Spiegel reinvigorated shareholders with promises of a profitable 2019 last month, flat-lining user numbers on both social media apps have become causes for concern.

The US-based tech bubble as a whole suffered earlier this month, when a Wall Street slide caused primarily by rising interest rates hit tech stocks the hardest. The so-called FAANGs group, which includes Facebook, Apple, Amazon, Netflix and Google, lost a staggering $ 172bn in market value in a single day.

Read more : Snap to challenge Netflix in new turn to original scripted content

Additionally, Microsoft CEO Satya Nadella is set to prove whether his faith in its cloud business has continued its near-meteoric rise for another quarter.

In its first quarter earnings report on Wednesday night, Investors will be watching to see if Microsoft, which currently holds second place for global market share behind Amazon, can top July’s impressive results for its cloud computing division. Its cloud solution Azure posted 90 percent growth year-on-year last quarter, pushing results for its commercial cloud segment up 53 percent to $ 6.9bn.

Consensus estimates collated by S & P Global Market Intelligence has predicted Microsoft’s overall revenue to fall

CMC Markets chief analyst Michael Hewson said this week’s results will be held as an indicator as to whether Microsoft can achieve the lofty full- year 12 percent revenue growth target investors are hoping for.

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