Tech giants Apple and Meta Platforms lead a busy week of reports
The busiest week of the earnings season is here, with some of the world’s largest tech companies slated to report. Apple, Microsoft and Meta Platforms are among the roughly 90 S & P 500 companies due to post their latest quarterly figures. General Motors and Starbucks are also on the docket. It’s been a solid earnings season thus far on Wall Street, with the results helping the S & P 500 reach an all-time high last week. About 80 S & P 500 names have posted earnings thus far, with 76% of those topping analyst expectations, per FactSet. Take a look at CNBC Pro’s breakdown of what’s expected from this week’s key reports. All times are ET. Tuesday General Motors is set to report earnings before the bell, followed by a call at 8:30 a.m. Last quarter: GM had its best day since 2020 on better-than-expected third-quarter results . This quarter: Earnings are expected to have surged nearly 50% from the year-earlier period, according to LSEG. What CNBC is watching: Investors will be watching for any commentary GM provides on tariffs and how they may impact the company’s profits going forward. However, Deutsche Bank thinks many of those concerns are baked into the stock already. “While there are concerns about the cycle and potential policies of the new Trump administration, our view is that these risks are already very well-known and there’s room for positive surprises (e.g., pricing holds up better, no Mexico tariffs, etc.),” wrote analyst Edison Yu , who last week upgraded GM to buy from hold. What history shows: GM earnings beat expectations 88% of the time, per Bespoke Investment Group. Boeing is set to report earnings in the premarket, with a call scheduled for 10 a.m. Last quarter: BA posted a narrower-than-expected loss, with CEO Kelly Ortberg setting his sights on a “leaner” future for the company . This quarter: The airplane maker’s revenue is expected to have fallen more than 25% year over year, per LSEG. What CNBC airlines reporter Leslie Josephs is watching: “Is this Boeing’s turnaround year? For real this time? On Tuesday, they’ll get a roadmap from CEO Kelly Ortberg, who took the reins in August, on how the manufacturer is recovering from multiple crises, including last year’s midair blowout of a door plug and a nearly two-month machinist strike that halted production of most of its jetliners. Boeing executives have already disclosed plans to slash 17,000 jobs and cut costs everywhere from company travel to corporate events. Executives will face questions on how quickly the factories can ramp up production, with customers like American Airlines and United Airlines waiting for delayed aircraft. Other programs, including defense, have also struggled and likely contributed to what could be Boeing’s sixth consecutive annual loss. Analysts also will want to know how an already-fragile supply chain will withstand tariffs if the new Trump administration pushes for duties on imports.” What history shows: Boeing earnings have missed expectations for two straight quarters, Bespoke data shows. Starbucks is set to report earnings after the bell. A call with management is set for 5 p.m. Last quarter: SBUX CEO Brian Niccol said he would change the company’s strategy following a third straight quarterly sales decline . This quarter: Analysts polled by LSEG see a 25% year-over-year drop in earnings for the coffee chain. What to watch: Starbucks shares are coming off their third straight annual decline, losing about 5% in 2024, while the S & P 500 scaled to record levels. However, some analysts are starting to see light at the end of the tunnel. “SBUX ’25 bar is low but under-earning dynamics are evident; as initiatives resonate & a turnaround builds credibility, investors likely look past NT noise for ’26 upside,” wrote Wells Fargo’s Zachary Fadem, who has an overweight rating on the stock. What history shows: Starbucks earnings have missed estimates in three of the last four quarters, per Bespoke. Wednesday Meta Platforms is set to report earnings after the close, with a call slated for 5 p.m. Last quarter: META reported slower-than-expected user growth and warned of a 2025 jump in AI spending . This quarter: The tech giant is expected to report earnings growth of more than 25% year on year, according to LSEG. What to watch: TD Cowen analyst John Blackledge expects the company’s generative AI ad tools to “drive revenue growth.” He said: “Meta’s ad suite now features GenAI tools for text and image creation, ad optimization within Advantage+ Creative, and an expanded biz messaging offering. We expect that Meta’s revenue growth will be supported by its AI investments looking forward, driven by further uptake of GenAI tools as a growing 44% of ad buyers from our survey are using Gen AI tools for ad content creation, up from 37% last year.” What history shows: Meta tends to outperform earnings expectations 88% of the time, according to Bespoke. The stock also averages a 1.9% gain on earnings days. Microsoft is set to report earnings after the bell, with a call scheduled for 5:30 p.m. Last quarter: MSFT dipped on weak guidance . This quarter: The tech giant is expected to report 10% revenue growth year on year, according to LSEG. What to watch: Key for Microsoft will be any advancements its artificial intelligence along with how well its Azure business performed. “Focus remains on Azure’s growth (cons. ~32% yoy cc) & F2H reacceleration, M365 Copilot traction and Capex (FY25 $84B). We expect MSFT to execute well, and remain fans of LT consolidation & AI story,” wrote Jefferies analyst Brent Thill, who has a buy rating on the stock. What history shows: Microsoft has posted an earnings beat for nine straight quarters, Bespoke data shows. That said, shares declined after six of those reports came out. Tesla is set to report earnings after the closing bell. A conference call is set for 5:30 p.m. Last quarter: TSLA jumped on a profit beat and CEO Elon Musk ‘s prediction of at least 20% “vehicle growth” in 2025. This quarter: The electric vehicle maker’s earnings are expected to have grown about 5% from the year-earlier period, per LSEG. What to watch: Investors will look for signs of a recovery in vehicle deliveries after a decline in 2024. “We believe the company’s execution on Model 3 and Y volumes in the medium term and cost reduction, largely from a battery perspective, are critical to realizing positive incremental operating margin and cash flow necessary to support sustainable profitability,” wrote Oppenheimer analyst Colin Rusch. What history shows: Tesla shares have fallen in three of the last five earnings days, per Bespoke, including two declines of more than 12%. Thursday Apple is set to report earnings following the close, with a call between analysts and management set for 5 p.m. Last quarter: AAPL sales rose 6%, while earnings beat analyst expectations . This quarter: Analysts see earnings growth of about 8% from the year-earlier period, according to LSEG. What to watch: Apple comes into this week’s report following two notable downgrades last week, one from Jefferies and the other from Loop Capital. The former warned that the company’s revenue may disappoint, while the other sees “material demand reductions” ahead of the iPhone 17 release. On top of that, the stock has shed more than 10%, while the S & P 500 reached record highs. Can the tech giant prove the naysayers wrong with these results? What history shows: Bespoke data shows the iPhone maker beats earnings expectations 89% of the time. The stock also averages a 1.3% advance on earnings day.
