Back to top

Tesla News, Nvidia Earnings Preview & Buy this Cheap Tech Stock - Free Lunch

Read MoreHide Full Article

On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains looks at some global economic updates surrounding the coronavirus. We then discuss big Tesla TSLA news, earnings results from the likes of Alibaba (BABA - Free Report) , and what to expect from Nvidia NVDA. And the episode ends with why Perion Network Ltd PERI is a Zacks Rank #1 (Strong Buy) stock right now.

News out of China showed that the number of new coronavirus infections reported skyrocketed in one day, which led to the firing of two top officials. This helped send the Dow, the S&P 500, and the Nasdaq down early Thursday, but they have tried to bounce back, after closing at new highs earlier in the week.

Alibaba’s quarterly report was strong, but BABA stock dipped after executives said that the virus might have a broader impact on the world’s second-largest economy. Still, the Chinese e-commerce giant’s quarterly sales surged 38% to top Wall Street estimates.

Meanwhile, Cisco CSCO stock slipped on disappointing guidance. Applied Materials AMAT, on the other hand, saw its stock jump after the semiconductor equipment firm beat our Q1 estimates.

Tesla continued its hot streak even though it fell premarket. The electric car maker faces a new SEC probe, as CEO Elon Musk and Tesla look to raise $2 billion through a new stock sale.

Looking ahead, Nvidia is set to report its Q4 fiscal 2020 results after the closing bell, with the high-flying semiconductor stock set to return to growth. Nvidia is expected to join industry heavyweights Intel INTC and Taiwan Semiconductor Manufacturing Co. TSM, who have already posted solid quarterly results and raised their outlooks, as part of a broader chip comeback.

The episode then closes with a look into why tech-based digital advertising firm Perion is a Zacks Rank #1 (Strong Buy) stock. PERI is currently trading under $10 per share and its outlook appears strong.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

Alibaba Group Holding Limited (BABA) - free report >>