Apple and Microsoft earnings must shine again as tech shares stumble this month

If ever there was a time for megacaps like Apple and Microsoft to show off surprisingly strong profit growth, it’s now. 

Big tech needs a big showing this latest earnings season as technology stocks have stumbled into the new year, with the Nasdaq 100 Index down about 6% on fears that US interest rate hikes to combat inflation will curb valuations for the sector. 

The Nasdaq benchmark was falling again today with Facebook parent Meta Platforms falling as much as 4% at one stage, as US bond yields spike anew.