| Videos | Channels | Search |
The best way to trade troublesome tech
Two of the world's biggest technology companies, Google and Microsoft, missed earnings estimates for the second quarter.
Google reported profits of $9.7 billion, up 16% from a year ago but less than analysts were expecting.
Microsoft swung to a profit of $4.97 million, but takes a $900 million charge relating to poor sales of its Surface tablet.
And they aren’t the only technology companies to have disappointed the markets, Intel and IBM also missed forecasts.
So why are technology companies doing so badly?
Saxo Bank’s Peter Garnry says it seems to be resticted to the larger IT companies and the "new guard", the software services.
But he says it's only a temporary weakness in the sector and if you do your stock picking correctly and go for the smaller companies with a scalable business model, then there’s money to be made.
01:34 minutes
Tags: autoplay, companies, equities, goog us, google, ibm, intel, it, microsoft, msft us, peter garnry, sara walker, saxo bank, saxo tv, sector, software, stock picking, tech, technology, tradingfloor.com, video