Big Tech Earnings Ahead – Apple, AMD, Google (Alphabet) and Microsoft scheduled to report their earnings today
Q2 earnings season is in full swing, and this week’s calendar is action-packed with the release of the financials of big tech giants as well as some of Wall Street’s biggest market movers.
This week is undoubtedly the most crowded one of the earnings season and while Tesla kicked off the week on the right foot, the markets now await for similar results from Apple, AMD, Google (Alphabet), Microsoft and more.
Tuesday’s Big Tech Earnings Preview
Apple, Google and Microsoft are three of the biggest and most valuable companies in the world.
Here’s what to expect ahead of today’s most anticipated releases:
Analysts hold high expectations from Apple – and with good reason – as more often than not, it manages to beat all estimates no matter how optimistic they are.
In fact, Apple’s stellar performance this year is a case in point – the company’s stock skyrocketed by more than 50% since August 2020 and is currently enjoying a 12% YTD gain.
Analysts estimate that Apple’s revenues will likely settle around $73 billion, however, stock performance following the final outcome is largely unpredictable since last quarter’s surprise was still met with a retracement in stock prices.
All signs point to Apple’s stock being a strong buy this time around, however, buyers should always beware.
Few companies performed as impressive as Google did this year. The company’s stock is riding near all-time highs while investors enjoyed gains of beyond 80% since August 2020 as well as 58% YTD.
Google is largely outperforming the rest of its FAANG peers and even if past performance is not indicative of future results, it’s important to note that the search giant also managed to smash analysts’ estimates for the past four quarters as well.
The markets also expect great things from Microsoft as the company’s managed to beat analysts’ forecasts for the past four quarters – in similar fashion with Google.
Microsoft’s stock is also running on fresh highs near $288 – recording a 41% gain since August 2020 and had an impressive 32% climb YTD.
The consensus for Microsoft’s revenues is set near $44 billion, which translates to a 15% rise compared to last year’s second quarter.
Upcoming Earnings Releases
A few of the names that will publish their earnings in the next few days are listed below:
- Wednesday 28/07
Facebook, McDonald’s, PayPal, Pfizer, Qualcomm, Wells Fargo, Bank of America, BlackRock, Citigroup.
- Thursday 29/07
Amazon, Mastercard, Morgan Stanley.
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