Apple, Microsoft Set Positive Tone Ahead of Another Key Earnings Week: Analyst Says Tech Stocks Are Oversold

Apple, Microsoft Set Positive Tone Ahead of Another Key Earnings Week: Analyst Says Tech Stocks Are Oversold
A logo sits outside the Microsoft pavilion during the second day of the Mobile World Congress 2015 at the Fira Gran Via complex in Barcelona, Spain, on March 3, 2015. David Ramos/Getty Images
Benzinga
Updated:
Apple Inc. and Microsoft Corporation, which released their quarterly earnings data last week have set a positive tone for the upcoming week, which will see other tech stalwarts release their own numbers.

What Happened

Wedbush analyst Dan Ives said in a recent note that tech stocks “way oversold on Fed fears.”

The analyst noted a wide array of negative issues like the expected interest rate hikes from the Federal Reserve and the Russia-Ukraine geopolitical tensions. He said these have created a “perfect storm sell off” in tech stocks over the last month.