This Week's Must-See Earnings Charts
Earnings season steps it up a notch this week as over 400 companies are expected to report earnings. Many of them are large cap growth stocks, including several Magnificent 7 stocks like Microsoft, Alphabet, Apple, Amazon and Meta Platforms.
But the Mag 7 aren’t the only stocks hitting new highs. There are plenty of other companies doing so as well, including some of the top growth stocks on the Street. We’re going to get earnings reports from these companies as well.
Can They Beat Again?
It’s difficult to have a perfect earnings surprise track record. But even one or two misses, over the last 5 years, is a tremendous earnings surprise record because that time period included the pandemic.
Companies had to navigate government lockdowns and a spooked consumer. But these 5 have come out of it and are looking beyond the pandemic now.
Can they beat and move higher?
5 Must-See Earnings Charts
1. Tractor Supply Co. (TSCO)
Tractor Supply has only missed 4 times on earnings over the last 5 years but two of those misses were in 2023. However, it’s coming off of a beat last quarter.
Shares of Tractor Supply have rallied 19.1% over the last 3 months but are up just 1.6% over the last year. It trades with a forward P/E of 22 as the shares have stalled.
Should Tractor Supply be on your short list?
2. Apple Inc. (AAPL)
Apple has a great earnings surprise track record. It has only missed once in the last 5 years and it was in 2023.
Shares of Apple are up 31.5% in the last year and are hitting new all-time highs. It’s not cheap. Apple trades with a P/S ratio of 7.8.
Will Apple’s report be a catalyst for even more new highs?
3. Amazon.com, Inc. (AMZN)
Amazon.com has beat big over the last 4 quarters but had 3 misses prior to that time, in 2022.
Shares of Amazon.com are up 60.4% over the last year and are hitting new multi-year highs, but are not yet back to all-time highs. It’s not cheap, with a P/E of 43 but Amazon.com trades with a P/S ratio of just 3.0.
Should Amazon.com be on your short list?
4. Meta Platforms, Inc. (META)
Meta Platforms has beat 4 quarters in a row. But the real story is the turnaround in the shares, which have skyrocketed 114% over the last year to new all-time highs.
Meta Platforms has attractive valuations at a forward P/E of just 22.3.
Is Meta Platforms too hot to handle in 2024?
5. Deckers Outdoor Corp. (DECK)
Deckers has two of the hottest shoe brands in UGG and Hoka. It also has a hot earnings surprise chart as it has only missed once in the last 5 years and it was in 2021.
Shares of Deckers have soared 84% in the last year and are trading at new all-time highs. It’s not as cheap as it used to be, with a forward P/E of 32.
Is Deckers too hot to handle in 2024?
[In full disclosure, Tracey owns shares of AMZN in her own personal portfolio.]
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