5 Technology Stocks Set To Outperform This Earnings Season
Zacks Investment Research | Nov 08, 2018 08:27PM ET
Technology stocks have had a grand year so far, courtesy of strong demand for cloud-based platforms as well as growing adoption of Artificial Intelligence (AI) solutions, Augmented/Virtual reality (AR/VR) devices, autonomous cars, advanced driver assisted systems (ADAS) and Internet of Things (IoT).
The bullishness reflects on the performance of the Technology Select Sector SPDR ETF (NYSE:XLK), which has returned 11.2% year to date compared with the S&P 500 Composite’s gain of 5.1%.
Increasing use of the Internet, courtesy of the ubiquitous social media, has been a key driver for technology stocks. Naturally, focus on video streaming has been driving user engagement that is in turn attracting advertising dollars. Notably, real-time analysis of user data supported by AI tools is helping advertisers target the right audience, which is boosting their Return on Investment (ROI).
Further, robust increase in overall IT spending is providing impetus to the tech sector. Per the latest the complete list of today’s Zacks #1 Rank stocks here .
NetApp, Inc. Price and EPS Surprise
Earnings ESP Filter .
The company is expected to report third-quarter 2018 results on Nov 15.
Mountain View, CA-based Intuit (NASDAQ:INTU) has a Zacks Rank #3 and an Earnings ESP of +3.77%. Intuit is set to report first-quarter fiscal 2019 results on Nov 19.
Los Altos, CA-based Box (NYSE:BOX) has a Zacks Rank #3 and an Earnings ESP of +5.41%. The company is slated to report third-quarter fiscal 2019 results on Nov 28.
Santa Clara, CA-based Palo Alto Networks (NYSE:PANW) has a Zacks Rank #3 and an Earnings ESP of +0.06%. The company is likely to report first-quarter fiscal 2019 results on Nov 29.
Palo Alto Networks, Inc. Price and EPS Surprise
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