Apple, AMD, Palantir Earnings On Deck This Week As Market Seeks Positive Catalysts In Fed Decision Week

Midway into the season, about 49% of the S&P 500 companies have released their earnings so far, with 78% of the companies reporting earnings beats and 62% ringing in revenue upside, data from FactSet shows.

The year-over-year blended earnings growth rate of S&P 500 companies is expected at 2.7%, potentially marking the first growth since the third quarter of 2022.

Earnings Deluge Awaits: The tech earnings news flow continues in the unfolding week, with the likes of Apple, Inc. AAPL, Advanced Micro Devices, Inc. AMD and Qualcomm, Inc. QCOM on tap. A slew of SMID-cap companies are also scheduled to disclose their quarterly earnings scorecard.

The earnings assume importance this week as they can influence the near-term trajectory of the equity market, which has been going through a lean patch since the end of July. Traders may also have to contend with the Fed decision, which is due Wednesday. Odds are in favor of a pause, although the rate outlook presented by Fed staffers could primarily move the market.

Apple’s report is the most-watched, given that the tech giant’s performance is seen as a barometer of the health of the global economy and consumer spending in particular. Due to the heavy weighting the stock has in the Nasdaq and S&P 500 indices, it has the potential to take the market in one particular direction.

KeyBanc Capital Market’s Brandon Nispel has muted expectations, as he expects an in-line fourth-quarter performance and the softness to linger in the first quarter, which encompasses the key holiday selling season.

John Vinh from KeyBanc calls for AMD to post in-line to slightly higher results and issue an in-line to slightly lower guidance. He expects the chipmaker to benefit from improving PC and server demand but sees a slight delay in the ramp of the MI300A at El Capitan posing a risk to the guidance.

For Qualcomm, Vinh expects a beat-and-raise quarter, consistent with strong earnings results from Taiwanese fabless semiconductor company Mediatek last week, driven by Android restocking rush orders.

See Also: The VC firm that backed Apple before its IPO in 1980 is focusing on AI — Here's how you can do the same with $1,000.

Key earnings to watch for during the week are:

Monday (before the market opens)

• Check Point Software Technologies Ltd. CHKP
• JinkoSolar Holding Co., Ltd. JKS
• McDonald’s Corporation MCD
• ON Semiconductor Corporation ON
• SoFi Technologies, Inc. SOFI
• Western Digital Corporation WDC

Monday (after the market close)

• Vornado Realty Trust VNO
• Rambus Inc. RMBS
• Wolfspeed, Inc. WOLF
• Tenet Healthcare Corporation THC
• Transocean Ltd. RIG
• Pinterest, Inc. PINS
• Lattice Semiconductor Corporation LSCC

Tuesday (before the market opens)

• Amgen Inc. AMGN
• Anheuser-Busch InBev NV BUD
• BP Plc. BP
• Caterpillar, Inc. CAT
• JetBlue Airways Corporation JBLU
• Pfizer Inc. PFE
• Sirius XM Holdings Inc. SIRI

Tuesday (after the market close)

• AMD
• First Solar, Inc. FSLR
• Chesapeake Energy Corporation CHK
• Meritage Homes Corporation MTH
• Unum Group UNM
• Yum China Holdings, Inc. YUMC

Wednesday (before the market opens)

• Bausch + Lomb Corporation BLCO
• Brinker International, Inc. EAT
• CVS Health Corporation CVS
• DuPont de Nemours, Inc. DD
• GlaxoSmithKline plc GSK
• Humana, Inc. HUM
• The Kraft Heinz Company KHC
• Norwegian Cruise Line Holdings Ltd. NCLH
• SunPower Corporation SPWR
• Yum! Brands, Inc. YUM

Wednesday (after the market close)

• Avis Budget Group, Inc. CAR
• Exact Sciences Corporation EXAS
• Electronic Arts Inc. EA
• The Clorox Company CLX
• Etsy, Inc. ETSY
• Marathon Oil Corporation MRO
• MicroStrategy Incorporated MSTR
• PayPal Holdings, Inc. PYPL
• Qualcomm
• Qorvo, Inc. QRVO
• Roku, Inc. ROKU

Thursday (before the market opens)