Earnings are in acute focus this quarter as investors want to see if there are any further signs of consumer distress noted by big tech companies.

IBM earnings are due tomorrow after hours, so it is worth having a look at the stock’s seasonal pattern around this time of the year. Over the last 15 years, IBM has lost an average of -3.63% between October 18 and November 21. The stock has lost value a total of 9 times.

In contrast, Microsoft stock has gained a total of 10 times in the last 15 years between the same dates and gained an average of 2.79%. So, it seems that Microsoft’s earnings periods are stronger than IBM’s.

Major Trade Risks: The major trade risk here is that previous seasonal results do not automatically guarantee future seasonal patterns.

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