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The second quarter earnings season is in full swing and next week tech giants like Amazon (AMZN), Alphabet (GOOG), Microsoft (MSFT), and Meta Platforms (META) will release their earnings reports.
Tech stocks have rebounded in 2023 and technology is the best-performing sector in the S&P 500 (SPY). The sector’s fortunes have made nothing short of a U-turn, as it was the worst-performing sector in 2022. Incidentally, the tech-heavy Nasdaq index (QQQ) fell in all four quarters last year – for the first time since the dot com bubble burst more than two decades ago.