Wall Street’s Schedule is Jam-Packed with Earnings Reports This Week
Traders are placing their bets this week as some of the world’s biggest companies report earnings.
It’s a huge week for the market – one in which not only will individual stocks be greatly affected, but the direction of the market in the near-term could be decided.
That’s because this week is chock-full of earnings reports for some of the most popular names in the market. In fact, approximately a third of the S&P 500 Index will report its first quarter earnings this week.
Highlighting this week’s busy schedule are some of the biggest names in the tech world that will garner a lot of attention from investors.
There’s a ton of speculation swirling on which companies will be able to beat expectations and which ones will disappoint.
And if you’re willing to take a risk and trade around those reports, there are huge potential profits to be had.
Where’s the money?
Big tech will get the week started, with Tesla, Inc. (TSLA) having already reported last night after the close. Microsoft Corporation (MSFT) and Alphabet Inc. (GOOGL) will be reporting today, followed by Facebook, Inc. (FB) and Apple Inc. (AAPL) on Wednesday. Amazon.com, Inc. (AMZN) will bring up the rear for big tech on Thursday.
We’ve already seen a strong earnings season for large corporations in the S&P 500, with 84% of the companies that have already reported posting positive EPS surprises, and 77% have beaten revenue expectations.
As a result, hopes are high for the big tech companies reporting this week – and investors are piling in ahead of the report, expecting more earnings beats.
And if you’re looking to put some speculative money to work on this big earnings week, here’s my advice…
How do I get some?
Of the big tech names reporting this week, I think Apple Inc. (AAPL) has the best chance to surprise to the upside.
With its new 5G enabled iPhone 12 launching in October, combined with stimulus checks, and more and mor Americans getting back to work as we recover from the pandemic, I wouldn’t be surprised if sales greatly exceed expectations.
And with AAPL still trading lower than the high it achieved in January, now might be a great time to jump in.
On the flipside, I think Alphabet Inc. (GOOGL) might be a little overbought. As such, even a strong earnings report could still result in a pullback similar to what we saw with Netflix, Inc. (NFLX) last week, when it lost nearly 8%.
However, I do want to offer a word of caution here.
Since earnings are so volatile, I only look to play them through a positive risk vs. reward setup, and I never risk much on these trades. I would advise you to do the same when playing earnings.
The Key to Trading Success…
Whether or not a company beats expectations on it’s earnings report, the single most important driver of a stock’s price is the supply and demand curve.
As we’ve seen many times this year already, aggressive buyers can drive up a stock faster than any fundamental.
That’s why, even in big earnings weeks like this, I still rely on S.C.A.N. to identify the best profit opportunities in the market.
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In the Spotlight: Even more tech earnings…
Advanced Micro Devices (AMD), one of the market’s most successful semiconductor companies reports its earnings today after the close.
After its largest competitor, Intel Corporation (INTL) exceeded expectations last week, expectations are high for AMD.
Even in the midst of a global semiconductor shortage, demand for PCs and other advanced electronics has been massive over the past year. And AMD is presumed to have done very well since the start of the year.
Investors are already starting to pile in ahead of earnings, but I’ll be very interested to see just how well AMD has been able to overcome shortages and supply chain issues, as well as any guidance it has on future sales.
In all, I’m very bullish on the semiconductor industry, and expect AMD to continue to thrive.