Overview:
The Q3 2023 tech earnings season was positive overall, as consumers remained fairly resilient, while tech spending, especially on AI, showed tremendous momentum. A much-improved outlook for 2024 and excitement around AI drove US tech stocks close to an all-time high.
In this first instalment of the report series, we discuss the key findings in segments including e-commerce, consumer spending, streaming, US internet and AI. We seek to uncover the underlying driver that impacted company earnings, different sentiments and cycles across tech stacks, and common and idiosyncratic themes. We also review the overall macro environment and what it bodes for the tech sector in the next quarter.
Table of Contents:
- Verticals, Companies and Themes Discussed
- Macro Review – Where we are in the tech cycle
- Macro Review – Macroeconomic and consumer indicators are rebounding off a bottom
- Consumer – Feeling squeezed
- Consumer – Divergence in spending demographics and patterns
- Content – Winners get ahead as consumers scrutinize value of offerings
- Consumer Internet – Turning a corner, with AI powering future gains
Number of Pages: 19
Published Date: January 2024