Today, the FAANG stocks are down $170 billion after Microsoft's earnings call sent the market into a tailspin. The Nasdaq is down over 2% as I write this.
Not only is Microsoft reporting its worst guidance in years … it also announced plans to lay off another 10,000 employees, its CFO is warning about "deceleration" in the business, and this morning, a Microsoft cloud outage impacted millions of users worldwide.
But earnings season is just getting started.
What do you think will happen when the companies WITHOUT real business models … WITHOUT any profits … and with NO money to speak of start reporting THEIR news?
Regards, Charles Sizemore Chief Income and Growth Specialist, Banyan Hill Publishing
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