Tech company earnings reports expected to bring a flush of bad news

‘No tech company is immune from pressures coming from rising interest rates, slowing economic growth and soaring inflation,’ one analysts said. Photograph: Seth Wenig/AP

As top tech companies prepare to release their quarterly earnings reports starting next week, investors are bracing for bad news.

Several US tech companies have announced hiring slowdowns and layoffs in recent weeks, and the difficulties are expected to continue. “It’s not a great time for tech in general,” said Paul Verna, an analyst at Insider Intelligence, a market analysis firm. “There is no question that companies are going to be spending less, cutting back budgets, and maybe implementing hiring freezes. None of that is good news for the next quarter.”