Third quarter earnings season really heats up this week with over 400 companies expected to report.
It includes many of the most popular stocks as well as those breaking out to new 5-year highs.
We’ll see a cross section of all sectors and industries this week which should provide clues as to what is going on in the US economy as it reopens after the pandemic shutdown.
Will Tech Live up to the Hype?
There’s no doubt technology has been the hottest sector of the year. But which tech stocks should you be following?
This week, there is both new tech and old tech reporting. But they have one thing in common: excellent earnings surprise track records.
It’s not easy beating every quarter, or nearly every quarter, for years. Several of these companies have perfect five-year records.
Can they keep their earnings streaks alive?
This Week’s 5 Best Tech Earnings Charts
Netflix has missed twice in a row, rare misses for the company. Prior to 2020, it hadn’t missed since 2017. Shares are at, or near, 5-year highs. They trade with a forward P/E of 84. Is all the good news priced in? NFLX
Snap Inc. has only missed twice since its 2017 IPO. Impressive. Shares have rallied off their all-time lows and are now up 105% in the last year to new all-time highs. Is the momentum here to stay? SNAP
Lam Research has only missed once in the last 5 years. That’s an amazing track record. Shares are up 24% year-to-date and eying 5-year highs again. They’re not expensive, with a forward P/E of just 17.6. Will they breakout after the report? LRCX
Texas Instruments has finally broken out of its multi-year trading range and is now hitting new 5-year highs. Shares are up 17.7% year-to-date. It has a great track record of beating on earnings as it hasn’t missed in 5 years. That’s not easy to do. Will it keep its streak again this quarter? TXN
Intel also has a perfect earnings surprise track record. It hasn’t missed in 5 years either. But shares have struggled this year and are trading down 9.3% year-to-date. They’re cheap, with a forward P/E of just 11. Is it a hidden semiconductor gem? INTC Zacks’ Single Best Pick to Double From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all. With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan. The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain. Click Here, See It Free >>
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Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intel Corporation (INTC): Free Stock Analysis Report Lam Research Corporation (LRCX): Free Stock Analysis Report Texas Instruments Incorporated (TXN): Free Stock Analysis Report Netflix, Inc. (NFLX): Free Stock Analysis Report Snap Inc. (SNAP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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