Overview:
The Q3 2023 tech earnings season was positive overall, as consumers remained fairly resilient, while tech spending, especially on AI, showed tremendous momentum. A much-improved outlook for 2024 and excitement around AI drove US tech stocks close to an all-time high.
In this first instalment of the report series, we discuss the key findings in segments including e-commerce, consumer spending, streaming, US internet and AI. We seek to uncover the underlying driver that impacted company earnings, different sentiments and cycles across tech stacks, and common and idiosyncratic themes. We also review the overall macro environment and what it bodes for the tech sector in the next quarter.
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Author
Yang Wang
Yang is a Senior Research Analyst at Counterpoint Research, based out of London. Yang has 10 years of work experience with particular interest in mobile devices, ecosystems, Emerging Markets, supply chain and macro topics that affect the global technology industry. As a tech analyst he has been quoted extensively by leading financial and media outlets. Yang started his career as a management trainee at Jardine Matheson, worked in business development at a SaaS startup, and most recently held marketing and research roles at KaiOS Technologies. Yang holds a Master of Science in Management from London Business School, and a Master of Science in Psychology from the University College of London.
Tyler Graham
Research Analyst at Counterpoint Research | Focus in Mobile Handsets and Automotive | Business Administration Graduate from CSU | Certified in Market Research/Data Analytics
Blake Przesmicki
Research Associate at Counterpoint Research | Specialize in Smartphones and Consumer Electronics | BA in Journalism, Advertising and Media Studies from the University of Wisconsin-Milwaukee |
