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4 Big Tech Stocks That Are Making a Charge

May 16, 2017
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The multi-month sideways crawl in stocks continues Tuesday amid a lack of directionality. Intense focus remains on the headlines spewing out of Washington D.C.. Which, to be fair, have very little to do with the market and the economy. At least, not directly (political gridlock lessens the change of pro-growth legislation this year, the main impetus for the post-election rally).

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But there is plenty of excitement if you know where to look, with retail stocks getting hammered on the downside and key Big Tech stocks rallying hard to the upside.

Investors are becoming increasingly picky about the stocks they are focusing on, resulting in narrowing measures of market breadth.

Yet that doesn’t take anything away from the very impressive rallies underway in the technology sector – which in some cases, is the mirror of what’s happening in retail, driven by market share gains. Here are four tech stocks zooming higher:

Big Tech Stocks to Buy: Amazon (AMZN)

Amazon.com, Inc.  (NASDAQ: AMZN ) has been in the news for a variety of reasons lately, from its surging market cap to its new efforts to move into furniture sales and even its “forest spheres” in downtown Seattle.

The stock’s rise has been impressive, up more than a third from its post-election low helped by the reporting of better-than-expected quarterly results on April 28. The company reported a 23% increase in revenue to $35.7 billion as its aggressive expansion efforts pay off.

The company will next report results on July 27 after the close. Analysts are looking for earnings of $1.44 per share on revenues of $37.15 billion.

Big Tech Stocks to Buy: Microsoft (MSFT)

Microsoft Corporation  (NASDAQ: MSFT ) shares are surging, testing new highs and threatening to break up and out of a two-month consolidation range after finding support at its 20-day moving average. Earlier this month, the company unveiled a new Surface Laptop lineup, increasing its hardware push.

MSFT reported better-than-expected results on April 27, with earnings of 73 cents beating estimates by three cents. Revenues rose 6.3% from the prior year thanks to cloud services and software-as-a-service gains.

The company will next report results on July 20 after the close. Analysts are looking for earnings of 71 cents per share on revenues of $24.24 billion.

Big Tech Stocks to Buy: Nvidia (NVDA)

Shares of graphics processor maker  Nvidia Corporation  (NASDAQ: NVDA ) – which is also a play on machine learning and autonomous transportation – have surged some 40% from their April low after reporting solid quarterly results.

Both earnings and revenues beat estimates, with earnings of 85 cents per share on a near 50% increase in revenues as the GTX 1000 GPU sells strongly despite being nearly a year old. Forward guidance was set ahead of expectations as well.

The company will next report results on Aug. 10 after the close. Analysts are looking for earnings of 80 cents per share on revenues of $1.95 billion.

Big Tech Stocks to Buy: Twitter (TWTR)

Twitter Inc  (NYSE: TWTR ), which has seen shares languish over the last eight months, is enjoying a run at its December highs on word co-founder Biz Stone is returning to the company.

The company also announced a new multi-year deal with the NFL to deliver content throughout the year – the mirror of the slow decline suffered over at Walt Disney Co’s  (NYSE: DIS ) ESPN unit.

The company will next report results on July 26 before the bell. Analysts are looking for earnings of five cents per share on revenues of $535 million.

Anthony Mirhaydari is founder of theEdge(ETFs) andEdge Pro(Options) investment advisory newsletters.Free two- and four-week trial offers have been extended to InvestorPlace readers.

The post 4 Big Tech Stocks That Are Making a Charge appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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