Technology stocks are rebounding in the premarket session on Monday following a notable decline observed last week.
- Apple’s forthcoming quarterly results will be meticulously analyzed for insights regarding the new iPhone Duo’s demand, its pivotal holiday-quarter projections, and strategies to cope with escalating memory chip prices.
- Following a lackluster report from Intel, AMD’s performance will be crucial in assessing whether Intel’s downturn is an isolated incident or indicative of wider issues within the semiconductor sector.
- Conferences such as GamesBeat NEXT and WSJ Tech are convening in California this week.
As investors brace for another significant earnings week, they are striving to recover from last week’s sharp sell-off triggered by disappointing reports from major players like Alphabet (GOOGL), Intel (INTC), and Amazon (AMZN).
Monday will see earnings announcements from Apple (AAPL) and Palantir Technologies (PLTR), with Advanced Micro Devices (AMD) and Super Micro Computer (SMCI) following on Tuesday.
Additionally, Uber Technologies (UBER), Shopify (SHOP), and Snap (SNAP) are set to report later in the week.
Tech Earnings
Apple and Palantir (Nov. 2): The impending quarterly results from Apple are anticipated with heightened interest, particularly for their commentary regarding the iPhone Duo’s market demand, the crucial outlook for the holiday quarter, and the company’s strategies in response to rising memory chip costs.
Apple’s Q4 revenue is projected to increase by 11% to $113.35 billion, representing the most modest growth rate in the past four quarters, with iPhone sales expected to rise approximately 15% to $56.54 billion.
Analysts forecast Palantir’s Q3 revenue will soar by 85% to $2.18 billion, in contrast to a 93% growth rate in Q2, as per Koyfin data. The adjusted profit per share is anticipated to rise by 94% to $0.41.
Both corporations are scheduled to announce their earnings after market closure.
Advanced Micro Devices (Nov. 3): In light of Intel’s disappointing performance last week, AMD’s earnings report carries significant weight, as it may reveal whether Intel’s struggles are unique to itself or symptomatic of deeper issues within the chip market.
Analysts predict the chipmaker’s Q3 revenue will climb by 42% to $13.01 billion, with adjusted profit projected to surge by 62% to $1.94 per share.
Snap (Nov. 4): With mixed signals from Alphabet and Reddit regarding the advertising landscape, Snap’s upcoming report faces a challenging backdrop.
Analysts are expecting Q3 revenue to increase by 15% to $1.73 billion, alongside an adjusted profit per share anticipated to ascend by 55% to $0.16.
Tech Events
GamesBeat NEXT (Nov. 2-3, San Francisco): This conference will delve into various topics including gaming, artificial intelligence, game development, and the future trajectory of interactive entertainment.
Confirmed speakers encompass notable industry figures such as former President of Nintendo of America Doug Bowser, former PlayStation Studios Chairman Shawn Layden, and ex-Executive of Sega and EA, Peter Moore.
WSJ Tech: California (Nov. 3-4, Napa Valley, California): This gathering promises engaging discussions centered on the latest innovations and challenges within the technological realm, featuring speakers such as NASA Administrator Jared Isaacman, Ford CEO Jim Farley, and Zoox CEO Aicha Evans.
Tech Winners And Losers Ahead Of Monday
| Nasdaq-100 Gainers | Nasdaq-100 Losers |
| Lumentum (up 11.2%) | Fortinet (down 24.4%) |
| NXP (up 10.5%) | Intel (down 24.4%) |
| Synopsys (up 8.7%) | Marvell (down 14%) |
In the previous week, the Invesco QQQ Trust Series 1 (QQQ) witnessed a decline of 2%, while the iShares Semiconductor ETF (SOXX) experienced a drop of 1.4%, continuing their trend of successive weeks of losses.
The iShares Expanded Tech-Software Sector ETF (IGV), which primarily focuses on software, fell nearly 6%.
Source link: Stocktwits.com.
