Big Earnings Week Ahead Led By Big Tech

Following up on Friday's record close for the Dow despite the recent rise in the delta variant of the coronavirus., the main attractions have arrived on the earnings calendar with the most influential companies in the S&P 500 reporting this week. So far, the results received have not only have been encouraging but there are reasons to expect a sustained recovery through the second and third quarters as well. Get ready for a blockbuster week with Big Tech's earnings report.

Tesla

On Monday after close, Wall Street expects billion the EV leader Tesla TSLA  to report earnings 96 cents per share on revenue of $11.21 billion. Investors want to know how much higher or lower can this volatile stock go as they are eager to find out how much profits came out of its recently reported growth. The market is also expecting updates on the Semi and the Cybertruck timelines, as well as building progress for the plants in Texas and Germany.

Alphabet

Google parent Alphabet GOOG will report on Tuesday after close, with Wall Street expecting it to report earnings of $19.21 per share on revenue of $56.02 billion. Tech giant's cyclical recovery in its advertising business fueled its stock to gains that outperformed its FAANG peers over the first half of the year.

Apple

Also on Tuesday after close, Wall Street expects Apple AAPL whose stock has been on an impressive run to report earnings of $1.00 per share on revenue of $72.93 billion. After proving it is much more than a hardware company by smashing Q2 revenue by more than $12 billion as its service business, which now accounts for some 25% of total revenue, surged some 27%, investors will want to see if this strong trend can continue.

Microsoft

Tuesday surely is Big Tech day, with Microsoft MSFT expected to report earnings of $1.90 per share on revenue of $44.1 billion. Outlook is just as strong as work and learn-from-home trends, which have driven increased demand for Microsoft services, particularly in the Intelligent Cloud segments, are expected to remain in the post-pandemic world. But to maintain the enthusiasm, Microsoft has to do more than deliver robust business results, it needs to show even brighter-than-expected guidance.

AMD

Last but not least for Tuesday, Wall Street expects Advanced Micro Devices Inc AMD to report 54 cents per share on revenue of $3.62 billion. Despite a consistent track record for beating earnings, surpassing both revenue and profit estimates in eleven out of the last fifteen earnings reports, the stock has not benefited from this strong top- and bottom-line numbers.

Facebook

Moving on to Wednesday, Wall Street expects Facebook FB to show earnings of $3.02 per share on revenue of $27.82 billion. The social media giant is enjoying current trends as aside from an improved ad-spending environment, there's also an accelerated shift to digital and corporations are looking to leverage the services that Facebook can provide to them. The only question is how are these positive trends making their way to the bottom line.

Amazon

On Thursday after close, Wall Street expects the e-commerce giant to report earnings of $12.22 per share on revenue of $115.07 billion. At this point, no one can dare to question Amazon.com Inc.'s AMZN dominance as it is growing faster than its FAANG peers. Not only does it continue to benefit from the strong demand acceleration that the pandemic fueled up, but it also successfully executed its strategy to both grow its Prime members as well as get them to spend more. There is plenty of evidence that suggests that Amazon's market share gains are here to stay beyond the pandemic.

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