A contrarian question: earnings aren’t out yet, so why are Amazon and Intel already taking a hit?
They won’t report until after the U.S. market closes (early morning Beijing time), but Amazon was already down 3.1% during the session, Intel was down 2.2%, and Google plunged more than 12%, dragging the Nasdaq down 1.4%. Did someone get the answers early, or were they simply dragged down by Google’s earnings disaster? The options market is betting even bigger moves: after earnings, Amazon is expected to swing 7.96% and Intel 9.16%—either up or down, with no middle ground.
Which side are you on: A, the early drop means results leaked, and once earnings are out, the bad news is behind us and the stocks rebound; or B, this is just the appetizer, and if earnings miss, they’ll take another hit?
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