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Upcoming Tech Earnings to Watch: ORCL, RHT, MU

Ryan McQueeney
Will any of the tech reports coming in the next few days have enough positive news to outweigh other headwinds? Let's take a closer look at a few of the sector's marquee reports due during the week of September 17.

This year's Q2 earnings season marked yet another period of robust top- and bottom-line growth, upside surprises, and strong consumer and enterprise spending. However, as Wall Street shifts its expectations and grows more concerned with external headwinds—like global trade disputes—post-earnings gains seemed harder to come by.

We have moved into a quiet period for earnings announcements, and the same headwinds are weighing on the minds of investors. This means that those companies reporting during this less-busy stretch really need to knock it out of the park if they want to impress, especially in the technology sector, where concerns about a semiconductor slowdown and new tariffs could steal some of the growth thunder.

Luckily, even during the non-traditional earnings season, investors can 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.

Will any of the tech reports coming in the next few days have enough positive news to outweigh other headwinds? Let’s take a closer look at a few of the sector's marquee reports due during the week of September 17.

1. Oracle Corporation (ORCL)

Enterprise software and cloud computing giant Oracle is scheduled to release its latest earnings report after the market closes on September 17. Oracle shares are up just 5% on the year as investors continue to worry that the company is losing market share to key competitors, so Wall Street will be hoping for a strong rebound here. However, ORCL is sporting a Zacks Rank #4 (Sell) ahead of the report.

According to our latest Zacks Consensus Estimates, analysts are expecting Oracle to report adjusted earnings of 68 cents per share and total revenue of $9.29 billion. These results would represent year-over-year growth of 9.7% and 0.9%, respectively.


2. Red Hat, Inc. (RHT)

Open source software solutions provider Red Hat is slated to announce its most recent quarterly results after the closing bell on September 19. Red Hat gapped down after its last earnings report, but the stock has still seen some nice gains on a year-to-date basis and is once again generating strong momentum. RHT is carrying a Zacks Rank #3 (Hold) as it approaches its report date.

Current consensus estimates have Red Hat posting adjusted earnings of 81 cents per share and quarterly revenue of $827.8 million. If these results hold, they would mark growth of 5.2% and 14.4%, respectively, from the prior-year quarter.


3. Micron Technology, Inc. (MU)

Memory chip manufacturer and trendy growth stock Micron will release its earnings report after markets close on September 20. Micron has trended downward over the past few months as analysts grow increasingly concerned about cyclical DRAM pricing and supply headwinds. This could give the Zacks Rank #3 (Hold) stock some room to rebound, but investors should follow its guidance and conference call commentary carefully.

As for the soon-to-be-reported quarter, Micron is still expected to report significant growth. The Zacks Consensus Estimate for earnings sits at $3.30 per share, up 63.4% from last year. Revenue is pegged at $8.22 billion, about 33.9% higher from a year ago.


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