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2 Blue-Chip Tech Stocks to Buy Before Earnings and Hold

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Today’s episode of Full Court Finance at Zacks dives into the market’s resurgence as major earnings reports continue to roll in. The episode then breaks down Apple AAPL and Microsoft MSFT ahead of their upcoming financial results to see if investors might want to buy these giant tech stocks right now.

The market jumped last Thursday following the release of some stronger-than-projected earnings reports from Bank of America and other economic bellwethers. The momentum carried over into Friday and to start the week of October 18, as Wall Street looks to the bright spots from financial results. The S&P 500 and the Nasdaq are now back well above their 50-day moving averages, with the benchmark index having climbed around 5% since October 4.

The bulls have fought their way back into control of the market—for now—and some big stocks have posted new highs once again even in the face of rising prices, global supply chain setbacks, and other headwinds.

A ton of uncertainty remains heading into the winter and the holiday shopping period. But Wall Street appears somewhat sanguine about the U.S. economy and the American consumer.

The early earnings results help support the optimism, with the S&P 500 earnings growth outlook up from where it was a week ago. S&P 500 margins also remain strong and the interest rate environment should stay accommodating for stocks even when the Fed starts to lift its core rate (also read: Into the Heart of Q3 Earnings Season).

Investors should have more clarity soon, with reports out from Johnson & Johnson JNJ, Netflix NFLX, Intel INTC, and 73 total S&P 500 names this week. These financial releases are nearly appetizers compared to next week, when Amazon AMZN, Facebook FB, and other heavyweights report. This brings us to Microsoft stock, which hit records Tuesday morning, ahead of its first quarter fiscal 2022 release on Tuesday, October 26.

The PC and Office powerhouse transformed into a cloud computing titan that’s posting double-digit revenue growth decades after its founding. Microsoft boasts a ton of other solid fundamentals that make it an attractive long-term play.

Next up is Apple, with its Q4 2021 results due out Thursday, October 28. The company’s latest iPhone has been a hit and it continues to solidify and expand its non-smartphone businesses, while buying back a ton of stock. 


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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
 
Intel Corporation (INTC) : Free Stock Analysis Report
 
Apple Inc. (AAPL) : Free Stock Analysis Report
 
Microsoft Corporation (MSFT) : Free Stock Analysis Report
 
Johnson & Johnson (JNJ) : Free Stock Analysis Report
 
Netflix, Inc. (NFLX) : Free Stock Analysis Report
 
Facebook, Inc. (FB) : Free Stock Analysis Report
 
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