Stock traders focus earnings reports in coming week
Last week, the stock market was not exactly doing great, as investors were hit by the market’s worst performance of the year so far. However, many of those same investors are hoping that earnings reports that are coming in the next week will lead to a resurgence in both specific stocks and the market as a whole.
In particular, all eyes will be on Apple in the coming days, as they will be revealing their earnings report on Tuesday. The popular and innovative company will hope to bounce back after their stock hit a low over the past year in the previous week.
It is said that the exodus of Apple investors last week was due to Cirrus Logic’s poor sales forecasts. Cirrus Logic is an important Apple supplier and provides, among other items, audio chips that are used in two of Apple’s most important products, the iPhone and iPad mini.
Experts posited that the poor sales forecasts for Cirrus Logic might also mean poor sales for the products themselves in the future. Now, many are expecting a profit of about $10.13 per share, which would represent a 15% fall from a few months ago.
Other tech companies that will be providing reports soon include Amazon, Motorola, Sprint Nextel, and Zynga. Another intriguing company that will provide an earnings report is Netflix, who will do so on Monday. Netflix has responded to rising costs from content providers by creating their own original series to attract viewers who were put off by a smaller selection of streaming movies.
Other heavy hitters who will report in the next week are Procter & Gamble, Starbucks, Ford, Mazda, Exxon Mobil, Chevron. Many airlines, including Boeing, Delta, SouthWest, United Continental, US Airways, JetBlue, and so on, will also be reporting in the coming week, which will undoubtedly have effects on stock prices in the near future.