5 Top Tech Stocks Are Up To Bat This Earnings Season
Zacks Investment Research | Jan 23, 2020 07:21AM ET
As we gear up for the U.S tech sector’s fourth-quarter earnings results, let us recall the sector’s outperformance last year and decade, over which it has surpassed all sectors, climbing a whopping 328%.
But, last month, the tech sector somehow lagged the S&P 500. And analysts predict a 4.3% fourth-quarter earnings decline from the same period last year. However, the sector continues to see more companies issuing positive than negative guidance.
What’s more, tech stocks are expected to collectively record 3.9% higher revenues compared to last year. Notably, Netflix (NASDAQ:NFLX) posted impressive fourth-quarter revenue results, helping the streaming giant surpass $20 billion in revenues last year. By the way, IBM’s revenues grew in the quarter following five quarters of declines (read more: Will FAANGs Have Enough Bite This Earnings Season? ).
Apple Inc. Price and EPS Surprise
the complete list of today’s Zacks #1 Rank stocks here .
Five9, Inc. (NASDAQ:FIVN) provides cloud software to contact centers. The company offers software products such as workforce management, speech recognition, predictive dialer, and voice applications. The company is expected to report earnings results for the quarter ending December 2019 on Feb 18. Five9 has an Earnings ESP of +1.02%. The company’s expected earnings growth rate for the current year is 28.3%. The stock has a Zacks Rank #2.
Silicon Motion Technology Corporation (NASDAQ:SIMO) designs, develops, and markets NAND flash controllers for solid state storage devices. The company is expected to report earnings results for the quarter ending December 2019 on Feb 6. Silicon Motion Technology has an Earnings ESP of +5.88%. The company’s expected earnings growth rate for the next quarter is 66.7%. The stock has a Zacks Rank #1.
MKS Instruments, Inc. (NASDAQ:MKSI) provides instruments, subsystems, and process control solutions that measure, monitor, deliver, analyze, power, and control critical parameters of manufacturing processes. The company is expected to report earnings results for the quarter ending December 2019 on Jan 28. MKS Instruments has an Earnings ESP of +8.41%. The company’s expected earnings growth rate for the next quarter is 11.6%. The stock has a Zacks Rank #1.
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MKS Instruments, Inc. Price and EPS Surprise
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