It was another busy week for Q2 earnings, with a mixed bag of results coming from key sectors like energy, technology, and utilities. The reports making the most noise this week were, of course, those of FANG stocks Alphabet
GOOGL, Facebook FB, and Amazon AMZN, which saw drastically different results and reactions.
Alphabet and Amazon largely impressed, notching impressive revenue growth and earnings which came in well ahead of expectations. However, Facebook posted a rare double miss and subsequently witnessed a historically bad day of trading on Thursday.
Nevertheless, earnings growth is expected to be robust throughout the remainder of the season, including in the technology sector. Tech remains an important battleground for bullish investors, as secular growth trends are still driving innovation and demand but could easily be overshadowed by external forces.
With that said, investors can always use the
Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. This handy tool is your perfect one-stop-shop to properly prepare for the market events that will have an impact on your own portfolio.
In this piece, we will be taking a look at three of the most-important reports from the tech sector to watch over the coming days. Make sure to keep an eye on these companies as they prepare to report during the week of July 30.
1. Apple Inc. ( AAPL)
Consumer electronics behemoth Apple is slated to announce its latest quarterly financial results after the closing bell on July 31. Apple investors will be hoping that a solid report is enough of a catalyst to push the company above the $1 trillion market cap threshold, and if the stock’s recent estimate trends and Zacks Rank #2 (Buy) are any indication, we might just be in store for that historic achievement.
Apple’s consensus earnings estimate for the soon-to-be-reported quarter has ticked eight cents higher over the duration of the quarter. Now, analysts expect the iPhone maker to see adjusted profits of $2.19 per share, which would represent year-over-year growth of 31%. Meanwhile, quarterly revenue is expected to be $52.37 billion, up 15% from the prior-year quarter.
2. Shopify Inc. ( SHOP Quick Quote SHOP - Free Report)
In stark contrast to Apple’s long-time tech sector domination is Shopify, a trendy young growth company which offers e-commerce platforms tailored to small businesses and virtual pop-up shops. The firm is scheduled to release its latest quarterly report before the market opens on July 31.
Shopify is selling off on Friday, just a few days ahead of the report. Nevertheless, the stock is still up more than 88% over the past year, and management is on pace to post strong revenue growth.
Indeed, current consensus estimates are calling for Shopify to report quarterly net sales of $234.7 million, which would represent year-over-year growth of 55%. However, earnings estimates are calling for a loss of two cents per share, down from a loss of a penny a year ago.
3. Activision Blizzard, Inc. ( ATVI)
Video game giant Activision Blizzard is set to release its latest earnings report after the market closes on August 2. Shares of ATVI have gained in the past month, but the most recent week has been a tough stretch for the stock as tech stocks took a hit on Friday especially. Still, ATVI is a Zacks Rank #2 (Buy) just days before its report.
According to our latest Zacks Consensus Estimates, analysts expect Activision Blizzard to report earnings of $0.36 per share and revenue of $1.40 billion. These results would represent year-over-year declines of 35% and 1%, respectively.
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