The huge tech company in the spotlight for the Nasdaq 100 futures this evening

Now that Tesla is not really considered to be a Mag 7 company anymore, that does imply there are only now 6 in that space (Amazon Alphabet, Apple, Meta, Microsoft and NVIDIA). Maybe Tesla will get back in the space, if the rebound continues- we shall see. Meantime, the focus here is on one of those leading six reporting after the closing bell this evening. That is Meta (Facebook), with a market cap in excess of $1.2 trillion and it is due to report its Q1 earnings at 8.05pm GMT. Meta is ranked no. 5 in the Nasdaq 100 by weight, with only Alphabet (Google) amongst those titans coming behind it. The markets are expecting Q1 earnings of $36.16 billion and an EPS of $4.32. So, there is as much room for disappointment, as there is optimism when their results hit the screens after the closing bell. Make no mistake, this stock has the power to seriously impact the Nasdaq 100 futures, if there is a real surprise in either direction. Right now the index future is still pricing a higher opening (right now at around 17,580), but perhaps it is what happens after the close tonight that might matter more- we shall see