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Earnings Season: The US tech giants to watch

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Can Facebook really perform as well this quarter as it did the last? Saxo's Peter Garnry says he expects strong numbers when the company reports later this Wednesday but that the top-line growth rate, year-on-year, will fall. He says the company now has to make a success of its latest acquisition, Whatsapp, by monetising its user base.

Also reporting this Wednesday are Ebay and Texas Instruments. Garnry is most positive about TI which he says has a good strategy.

Peter says it will be a mixed picture on Thursday when Google and Microsoft reporting. He's also wary of buying Amazon shares because of increased competition for the business.