Except for Microsoft MSFT , the remaining four companies will hold conference calls with Facebook at 6:00 pm ET, Amazon AMZN at 5:30 pm ET, Apple AAPL at 5:00 pm ET and Google/Alphabet at 4:30 pm ET. Due to their growth rates and outlook all four of these company’s stocks are trading above the S&P 500’s PE multiples of 25x on 2020 earnings and 19.6x on 2021 earnings. Last Friday the stock traded down during the day to just above its 50-day moving average of approximately $350. It is trading above its 50-day (blue line) moving average, 100-day (red line) and 200-day moving averages (green line). The shares could find support at the 50-day moving average of $1,458, with the next support around $1,350.

Source: Forbes July 29, 2020 02:48 UTC