Apple, Amazon, Microsoft, Meta Lead The Charge As Investors Bank On Tech Cheer For Rally's Reacceleration: Week Ahead In Earnings

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Zinger Key Points
  • The blended earnings of S&P 500 companies are expected to grow by 9.7%, the fastest pace since the fourth quarter of 2021.
  • After the tech disappointments from last week, an analyst says the sell-off seen in the space will be short-lived.

The earnings reports of last week were a mixed bag, with some Tesla, Inc. TSLA, Alphabet, Inc. GOOGL GOOG and STMicroelectronics N.V. STM, among companies disappointing to the downside. As the focus shifts to the unfolding week, more tech companies are lined up to disclose their quarterly results, potentially offering cues regarding the health of the sector.

The Week That Was: Most on Wall Street viewed Tesla’s earnings as lacking quality because a significant portion of them came from one-time regulatory credits. On the other hand, Google-parent Alphabet alienated investors by flagging higher capex that will likely weigh down on margins and in turn the bottom line.

Franco-Italian chipmaker, which is a key supplier to the automotive market, cut its full-year guidance. But not all tech tidings were received with pessimism. International Business Machines Co. IBM rose as investors cheered the company’s strong artificial intelligence bookings.

Healthy Trend: Data from financial data analytics company FactSet showed that about 14% of the S&P 500 companies have reported their quarterly results so far. The percentage of S&P 500 names that reported upside earnings surprise is 80%, above the one-year average (78%), five-year average (77%), and 10-year average (74%). But the percentage of upside was sub-part at 5.5%, below the one-year average (+6.5%), five-year average (+8.6%), and 10-year average (+6.8%).

The blended earnings of S&P 500 companies are expected to grow by 9.7%, the fastest pace since the fourth quarter of 2021. Eight of the 11 S&P 500 companies are on track to report year-over-year earnings growth for the June quarter, with communication Services, healthcare, IT, and financials likely reporting double-digit growth.

On the other hand, the materials space is expected to witness the steepest earnings decline.

See Also: Best Tech Stocks Right Now

The Week Ahead: According to FactSet, this week will feature earnings reports from 138 S&P 500 companies, including seven components of the Dow 30. Some heavily-weighted companies such as Apple, Inc. AAPL, Microsoft Corp. MSFT and Meta Platforms, Inc. META are all in the mix.

Meta is expected to be the largest contributor to earnings per share growth, given the consensus models nearly 60% increase.

After last week’s brutal tech sell-off, a bullish analyst is optimistic concerning the the sector, its prospects and the stock trajectory. “We believe the tech sell-off seen last week will be short-lived as the Street better digests results and commentary from the broader tech sector over the coming weeks during 2Q earnings season,” Wedbush’s Daniel Ives said in a note published Sunday.

“This is the start….not the end of this tech bull run we expect the next few years,” he said, adding that companies, utilities,
governments will spend over $1 trillion combined in AI capex over the coming years fueling this AI Revolution.

The analyst said investors will likely look for clues around the pace of AI revolution from the earnings reports of Microsoft, Amazon, Inc. AMZN, Meta and Apple and others.

Tech stocks extended their weekly declines in the week ended July 26 amid the disappointment from early tech reporters. The Invesco QQQ Trust QQQ, an index that tracks the performance of the Nasdaq 100 Index, ended Friday’s session down 1.03% to $462.97, according to Benzinga Pro data. The ETF is trading off its record close of $502.96 reached on July 10. The SPDR S&P 500 ETF Trust SPY climbed 1.12% on Friday before closing at $5544.44. The QQQ and SPY climbed 0.48% and 0.25%, respectively, in premarket trading Monday.

Notable among the companies reporting this week are:

Monday

Before market open:

  • McDonald’s Corporation MCD
  • ON Semiconductor Corporation ON

After close:

  • F5, Inc. FFIV
  • Rambus Inc. RMBS
  • Lattice Semiconductor Corporation LSCC
  • Chesapeake Energy Corporation CHK
  • Sanmina Corporation SANM
  • Tilray Brands, Inc. TLRY

Tuesday

Before market open:

  • American Electric Power Company, Inc. AEP
  • Archer-Daniels-Midland Company ADM
  • BP p.l.c. BP
  • Illinois Tool Works Inc. ITW
  • JetBlue Airways Corporation JBLU
  • LGI Homes, Inc. LGIH
  • Logitech International S.A. LOGI
  • Merck & Co., Inc. MRK
  • PayPal Holdings, Inc. PYPL
  • Pfizer Inc. PFE
  • Procter & Gamble Company PG
  • Restaurant Brands International Inc. QSR
  • SoFi Technologies, Inc. SOFI

After close:

  • Advanced Micro Devices, Inc. AMD
  • Arista Networks, Inc. ANET
  • Caesars Entertainment, Inc. CZR
  • DoubleVerify Holdings, Inc. DV
  • Electronic Arts Inc. EA
  • First Solar, Inc. FSLR
  • Freshworks Inc. FRSH
  • Live Nation Entertainment, Inc. LYV
  • Match Group, Inc. MTCH
  • Microsoft
  • Mondelez International, Inc. MDLZ
  • Pinterest, Inc. PINS
  • Skyworks Solutions, Inc. SWKS
  • Starbucks Corporation SBUX
  • Qorvo, Inc. QRVO

Wednesday

Before market open:

  • Altria Group, Inc. MO
  • AutoNation, Inc. AN
  • Barrick Gold Corporation GOLD
  • Bausch + Lomb Corporation BLCO
  • Boeing Company BA
  • DuPont de Nemours, Inc. DD
  • Garmin Ltd. GRMN
  • GSK plc GSK
  • Humana Inc. HUM
  • KKR & Co. Inc. KKR
  •  Kraft Heinz Company KHC
  • Oshkosh Corporation OSK
  • Teva Pharmaceutical Industries Limited TEVA
  • Marriott International, Inc. MAR
  • Wingstop Inc. WING
  • T-Mobile US, Inc. TMUS
  • Norwegian Cruise Line Holdings Ltd. NCLH

After close:

  • Albemarle Corporation ALB
  • American International Group, Inc. AIG
  • Arm Holdings plc ARM
  • C.H. Robinson Worldwide, Inc. CHRW
  • Carvana Co. CVNA
  • eBay Inc. EBAY
  • Etsy, Inc. ETSY
  • Host Hotels & Resorts, Inc. HST
  • Lam Research Corporation LRCX
  • Meta
  • MGM Resorts International MGM
  • NETGEAR, Inc. NTGR
  • QUALCOMM Incorporated QCOM
  • Teladoc Health, Inc. TDOC
  • Western Union Company WU

Thursday

Before market open:

  • Anheuser-Busch InBev SA/NV BUD
  • Bausch Health Companies Inc. BHC
  • Biogen Inc. BIIB
  • ConocoPhillips COP
  • Dominion Energy, Inc. D
  • EVgo, Inc. EVGO
  •  Hershey Company HSY
  • Hertz Global Holdings, Inc. HTZ
  • Mobileye Global Inc. MBLY
  • Regeneron Pharmaceuticals, Inc. REGN
  • Sirius XM Holdings Inc. SIRI
  • Cigna Group CI
  • Wayfair Inc. W

After close:

  • Amazon
  • Apple
  • Beazer Homes USA, Inc. BZH
  • BigBear.ai Holdings, Inc. BBAI
  • Block, Inc. SQ
  • Booking Holdings Inc. BKNG
  • Cloudflare, Inc. NET
  • Clorox Company CLX
  • Coinbase Global, Inc. COIN
  • DraftKings Inc. DKNG
  • Intel Corporation INTC
  • Microchip Technology Incorporated MCHP
  • MicroStrategy Incorporated MSTR
  • Opendoor Technologies Inc. OPEN
  • RingCentral, Inc. RNG
  • Roku, Inc. ROKU
  • Vertex Pharmaceuticals Incorporated VRTX
  • Twilio Inc. TWLO
  • United States Steel Corporation X

Friday

Before market open:

  • Chevron Corporation CVX
  • Exxon Mobil Corporation XOM
  • Magna International Inc. MGA
  • Cinemark Holdings, Inc. CNK
  • Fluor Corporation FLR

After close:

  • AMC Entertainment Holdings, Inc. AMC

Read Next:

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AAPLApple Inc
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ADM Logo
ADMArcher-Daniels Midland Co
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AEP Logo
AEPAmerican Electric Power Co Inc
$97.49-0.33%
AIG Logo
AIGAmerican International Group Inc
$74.06-1.48%
ALB Logo
ALBAlbemarle Corp
$91.00-3.24%
AMC Logo
AMCAMC Entertainment Holdings Inc
$3.40-2.30%
AMD Logo
AMDAdvanced Micro Devices Inc
$123.000.59%
AMZN Logo
AMZNAmazon.com Inc
$234.351.58%
AN Logo
ANAutoNation Inc
$182.47-1.47%
ANET Logo
ANETArista Networks Inc
$129.356.46%
ARM Logo
ARMARM Holdings PLC
$177.3014.2%
BA Logo
BABoeing Co
$174.50-0.60%
BBAI Logo
BBAIBigBear.ai Holdings Inc
$4.39-0.45%
BHC Logo
BHCBausch Health Companies Inc
$7.723.35%
BIIB Logo
BIIBBiogen Inc
$142.751.26%
BKNG Logo
BKNGBooking Holdings Inc
$4619.21-1.43%
BLCO Logo
BLCOBausch & Lomb Corp
$17.07-0.64%
BP Logo
BPBP PLC
$31.13-1.24%
BUD Logo
BUDAnheuser-Busch InBev SA/NV
$47.75-1.18%
BZH Logo
BZHBeazer Homes USA Inc
$28.00-0.67%
CHRW Logo
CHRWC.H. Robinson Worldwide Inc
$105.25-0.13%
CI Logo
CIThe Cigna Group
$289.040.16%
CLX Logo
CLXClorox Co
$158.73-0.79%
CNK Logo
CNKCinemark Holdings Inc
$29.311.70%
COIN Logo
COINCoinbase Global Inc
$291.80-0.81%
COP Logo
COPConocoPhillips
$103.28-0.96%
CVNA Logo
CVNACarvana Co
$233.510.51%
CVX Logo
CVXChevron Corp
$156.40-1.16%
CZR Logo
CZRCaesars Entertainment Inc
$34.00-0.67%
D Logo
DDominion Energy Inc
$53.00-5.20%
DD Logo
DDDuPont de Nemours Inc
$77.62-1.07%
DKNG Logo
DKNGDraftKings Inc
$40.90-1.47%
DV Logo
DVDoubleVerify Holdings Inc
$19.90-0.15%
EA Logo
EAElectronic Arts Inc
$125.90-12.1%
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EBAYeBay Inc
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ETSY Logo
ETSYEtsy Inc
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EVGOEVgo Inc
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FFIVF5 Inc
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FLR Logo
FLRFluor Corp
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FRSH Logo
FRSHFreshworks Inc
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FSLRFirst Solar Inc
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GOLDBarrick Gold Corp
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GOOGAlphabet Inc
$199.870.12%
GOOGL Logo
GOOGLAlphabet Inc
$198.280.12%
GRMN Logo
GRMNGarmin Ltd
$216.20-0.74%
GSK Logo
GSKGSK PLC
$33.55-0.68%
HST Logo
HSTHost Hotels & Resorts Inc
$17.290.46%
HSY Logo
HSYThe Hershey Co
$151.35-1.45%
HTZ Logo
HTZHertz Global Holdings Inc
$4.021.26%
HUM Logo
HUMHumana Inc
$284.920.09%
IBM Logo
IBMInternational Business Machines Corp
$223.23-0.46%
INTC Logo
INTCIntel Corp
$21.800.14%
ITW Logo
ITWIllinois Tool Works Inc
$259.14-0.86%
JBLU Logo
JBLUJetBlue Airways Corp
$7.89-0.88%
KHC Logo
KHCThe Kraft Heinz Co
$29.10-1.29%
KKR Logo
KKRKKR & Co Inc
$161.510.50%
LGIH Logo
LGIHLGI Homes Inc
$93.190.66%
LOGI Logo
LOGILogitech International SA
$87.60-2.88%
LRCX Logo
LRCXLam Research Corp
$82.401.10%
LSCC Logo
LSCCLattice Semiconductor Corp
$60.051.57%
LYV Logo
LYVLive Nation Entertainment Inc
$138.55-0.26%
MAR Logo
MARMarriott International Inc
$280.410.97%
MBLY Logo
MBLYMobileye Global Inc
$16.961.74%
MCD Logo
MCDMcDonald's Corp
$281.33-0.45%
MCHP Logo
MCHPMicrochip Technology Inc
$58.31-0.34%
MDLZ Logo
MDLZMondelez International Inc
$56.20-2.43%
META Logo
METAMeta Platforms Inc
$623.481.14%
MGA Logo
MGAMagna International Inc
$40.01-1.96%
MGM Logo
MGMMGM Resorts International
$32.97-1.14%
MO Logo
MOAltria Group Inc
$50.81-1.28%
MRK Logo
MRKMerck & Co Inc
$95.63-0.63%
MSFT Logo
MSFTMicrosoft Corp
$445.003.85%
MSTR Logo
MSTRMicroStrategy Inc
$371.60-4.50%
MTCH Logo
MTCHMatch Group Inc
$32.58-0.49%
NCLH Logo
NCLHNorwegian Cruise Line Holdings Ltd
$26.23-2.99%
NET Logo
NETCloudflare Inc
$123.262.84%
NTGR Logo
NTGRNetgear Inc
$28.212.25%
ON Logo
ONON Semiconductor Corp
$56.030.76%
OPEN Logo
OPENOpendoor Technologies Inc
$1.40-0.36%
OSK Logo
OSKOshkosh Corp
$96.03-1.27%
PFE Logo
PFEPfizer Inc
$26.11-1.99%
PG Logo
PGProcter & Gamble Co
$164.311.60%
PINS Logo
PINSPinterest Inc
$31.60-1.47%
PYPL Logo
PYPLPayPal Holdings Inc
$89.850.09%
QCOM Logo
QCOMQualcomm Inc
$170.301.81%
QQQ Logo
QQQInvesco QQQ Trust, Series 1
$530.341.06%
QRVO Logo
QRVOQorvo Inc
$87.09-0.56%
QSR Logo
QSRRestaurant Brands International Inc
$60.72-0.03%
REGN Logo
REGNRegeneron Pharmaceuticals Inc
$680.03-1.13%
RMBS Logo
RMBSRambus Inc
$64.502.30%
RNG Logo
RNGRingCentral Inc
$34.08-0.55%
ROKU Logo
ROKURoku Inc
$79.36-0.48%
SANM Logo
SANMSanmina Corp
$83.00-1.40%
SBUX Logo
SBUXStarbucks Corp
$97.90-0.08%
SIRI Logo
SIRISirius XM Holdings Inc
$22.06-0.59%
SOFI Logo
SOFISoFi Technologies Inc
$17.50-2.23%
SQ Logo
SQ
$87.170.24%
STM Logo
STMSTMicroelectronics NV
$25.45-1.17%
SWKS Logo
SWKSSkyworks Solutions Inc
$92.00-2.09%
TDOC Logo
TDOCTeladoc Health Inc
$9.853.71%
TEVA Logo
TEVATeva Pharmaceutical Industries Ltd
$22.010.87%
TLRY Logo
TLRYTilray Brands Inc
$1.13-3.40%
TMUS Logo
TMUST-Mobile US Inc
$218.30-0.54%
TSLA Logo
TSLATesla Inc
$413.78-2.43%
TWLO Logo
TWLOTwilio Inc
$112.63-1.10%
VRTX Logo
VRTXVertex Pharmaceuticals Inc
$429.570.39%
W Logo
WWayfair Inc
$47.46-2.41%
WING Logo
WINGWingstop Inc
$283.581.11%
WU Logo
WUThe Western Union Co
$10.30-0.96%
X Logo
XUnited States Steel Corp
$36.45-0.36%
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XOMExxon Mobil Corp
$109.50-1.77%
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