META

Technology Sector Update for 02/02/2023: META, SONY, MTSI, XLK, SOXX

Technology stocks were edging higher pre-bell Thursday. The Technology Select Sector SPDR Fund (XLK) was up over 1% and the iShares Semiconductor ETF (SOXX) was recently advancing by 0.9%.

Meta Platforms (META) reported Q4 diluted earnings per share of $1.76, down from $3.67 a year earlier. Analysts polled by Capital IQ expected $2.24. Meta Platforms was gaining over 20% in value recently.

Sony Group (SONY) reported fiscal Q3 net income of 263.89 Japanese yen ($2.05) per diluted share, down from 276.65 yen a year earlier. Analysts polled by Capital IQ expected earnings of 234.75 yen. Sony Group was recently advancing by more than 2%.

Macom Technology Solutions Holdings (MTSI) was 0.03% higher after it reported Q1 fiscal 2023 adjusted earnings of $0.81 per diluted share, compared with $0.64 a year earlier. Analysts polled by Capital IQ were expecting $0.80.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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