Zacks Stocks In The News · Snap, Microsoft & Intel Earnings: Buy These Diverse Tech Stocks?
On today’s episode of Full Court Finance here at Zacks, Ben Rains previews a busy week of earnings reports from some big names in tech to help investors see if they should consider buying Snap, Microsoft, and Intel stock.
The Nasdaq surged over 1.6% through mid-afternoon trading on Monday, driven by big names that have soared during the coronavirus comeback, including Tesla TSLA, Zoom ZM, and Amazon AMZN. The jump comes as Wall Street awaits another busy week of earnings that will hopefully help provide a better understanding of what’s to come and help confirm that the worst of the pandemic’s economic impact is over.
That said, our current Zacks estimates call for total S&P 500 earnings to tumble -44.9% from the same period last year on -10.5% lower revenues. However, the tech sector is only expected to see its earnings sink -13% on -1% lower sales, which helps highlight its broader coronavirus immunity.
The first stock we dive into is Snap SNAP ahead of its Q2 release on Tuesday. The social media company has expanded its reach to include video games and more, and its stock price is up 200% since March 18 to destroy Zoom, Netflix NFLX, and Facebook FB.
Next up is Microsoft MSFT. The tech powerhouse continues to be one of the best bets on the market alongside Apple AAPL and others, and its cloud computing business is likely to take center stage again on Wednesday.
The episode then closes with Intel INTC to see what investors should do with the chip giant ahead of its second quarter earnings release on Thursday.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Intel Corporation (INTC) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report Facebook, Inc. (FB) : Free Stock Analysis Report Snap Inc. (SNAP) : Free Stock Analysis Report Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research