Earnings week!

It’s a big rest of the week for the stock market. Facebook, Amazon, Apple and Alphabet are headlining on Thursday.

Is tech really immune to COVID-19? Are they all overvalued? When is the bubble going to burst. This week’s earnings won’t answer all those questions, but we’ll have a much better idea.

I got caught chasing a bit the last couple of weeks and I’m largely sitting on my hands right now on the defensive. Things are frothy and buying the potential earnings release bump is a dangerous move that I’m not willing to risk right now.

My prediction: earnings are going to disappoint a bit across the board. Market will take a slight tumble in response to earnings but recover over the next few weeks.

Q1 earnings turned out better than expected for most, but we’re all quick to forget that the blunt end of the COVID-19 impact happened in Q2. Yes, even tech companies can feel the hit as well.

I’m headed up to Lake Tahoe tomorrow for one more weekend at our summer house and to help pack up our things. Looking forward to catching some sun and taking a bit of a break from work.