Many tech employees are having to rethink their career path as the market downturn puts pressure on firms in the sector to cut their workforces. Big Tech executives may be trimming the fat in preparation for rockier economic prospects ahead.
On Tuesday after the closing bell, Microsoft and Alphabet released their most recent quarterly earnings reports. These two tech shares continued their downtrends over the course of trading Wednesday.
Investors are anticipating some major big tech earnings releases set for the coming days. Some of the big tech companies include IBM, Microsoft, AT&T, and Tesla. In mid-November 2021, rising interest rate fears and inflation concerns deterred investors from software companies, which sent scores of prior outperformers into correction territory.
Microsoft announced its plan to acquire Activision Blizzard yesterday for a whopping nearly $69 billion. This deal could change the balance of power in the gaming industry.
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