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“What they forecast is ‘pretty representative of how the economy is doing,’ said King Lip, Chief Strategist at BakerAvenue Wealth Management in San Francisco. ‘If Microsoft comes in and says things are ok, if Google says things are ok, then that represents a significant weight in not just market cap but the overall economy.’”

Reuters RPT - Europen Markets, July 26, 2022: Nascent U.S. stock rally hangs in balance as Wall St awaits megacap earnings

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Baker Avenue Asset Management LP. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. All information is believed to be factual and up-to-date as of this writing and is subject to change. Before purchasing any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of any investment.

Any suggestion of cause and effect or of the predictability of economic or investment cycles is unintentional. Past performance is never a guarantee of future performance. Baker Avenue Asset Management LP may currently own or have previously owned a specific stock or company referenced, and a list of our past holdings can be found at the SEC website. Click to view full disclosures.