Alphabet 'set up well' for possible Q4 earnings beat -analyst

STORY: Last week, Alphabet missed Wall Street's target for revenue growth in the third quarter as ad sales remained weak, while inflation and a strong dollar led Microsoft to report its slowest topline growth in five years.

"Some of these companies could be giving some conservative guidance with some of the unknowns with the macro environment right now," said Ellegard. "So I think they could be setting themselves up for a strong beat in Q4."