Investors hold their breath as Apple, Facebook, Google earnings season begins

Alex Pollak

Loftus Peak

The big disruptive names – Facebook, Google , Apple – have been gyrating in recent days as Wall Street tries to work out whether they will disappoint in the current earnings season, with Facebook starting the ball rolling for the majors on Thursday (Australian time) followed by Google, Amazon and Microsoft, then next week Apple and Twitter. There is a lot at stake. The oil and hard commodities trade has failed, consumer staples are looking tired and US rates will rise. Meanwhile, many of the biggest disruptors are trading at multiples which suggest they are ex-growth. Case in point: Apple, with an EBIT multiple of less than 10x, is at a 30% discount to Telstra. Even Goldman Sachs has produced research showing that Google is now the same price as Disney. Read more at (VIEW LINK)

CIO of Loftus Peak, a specialist global fund manager with a track record of successful investment in some of the world's fastest-growing listed businesses.

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