On today’s episode of Full Court Finance here at Zacks, Ben Rains dives into what to expect from Amazon, Apple, and Facebook’s upcoming quarterly earnings results. We also take a look at what else is going on with these tech giants and the market to see if investors should consider buying.
The last week or so has seen Wall Street turn some of its focus to valuation and stability. The move comes as investors use second quarter earnings results as a chance to take home profits on stocks that have soared since the market’s March 23 lows, which includes Microsoft MSFT.
That said, the overall tech sector is expected to perform far better than the broader S&P 500. This means that tech and some of the stay-at-home stars such as Zoom ZM might continue to benefit in the second half of 2020, even if there is a near-term pullback.
Amazon AMZN, like all three of the stocks we discuss today is scheduled to release its quarterly financial results after the closing bell on Thursday. AMZN is a Zacks Rank #3 (Hold) at the moment and the coronavirus has highlighted its ability to successfully run multiple businesses built for the future.
Meanwhile, Apple’s AAPL quarterly iPhone sales are projected to tumble. But its Services business continues to expand as it takes on the likes of Netflix NFLX, Spotify SPOT, and others.
Facebook FB and CEO Mark Zuckerberg remain nearly constantly surrounded by controversy. Despite the negativity, the social media company’s stock continues to climb because its reach is simply too big for many advertisers to ignore.
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