Tech Stocks May 28 Earnings Roster: VMW, CRM, ADSK & More
Zacks Investment Research | May 26, 2020 10:39PM ET
Looking at the earnings picture so far, the Technology sector (one of the 16 broad Zacks sectors within the Zacks Industry classification) has shown more resilience compared to others amid the coronavirus-led economic rout.
While some players suffered due to supply-chain disruptions as well as weakness in automobile, PC spending and lower software spending, several benefited from a solid data-center market and the growing adoption of cloud-based applications including contactless payments and online delivery.
Cyber-security companies like Fortinet (NASDAQ:FTNT) witnessed accelerated deployments and deal flow to protect workload of cloud-based applications driven by tech-supported remote-working and online-learning wave, courtesy of digital transformation across all major industries due to the pandemic.
Both Microsoft (NASDAQ:MSFT) and Google’s results reflected solid demand for cloud-computing services, while Intel’s) data-centric businesses drove its first-quarter performance.
Apple (NASDAQ:AAPL) was in the eye of the storm on both supply chain and consumer demand front with iPhone units under massive pressure. Nonetheless, its FAANG brethren Amazon (NASDAQ:AMZN) (massive strength in e-commerce and Amazon Web Services) and Facebook (NASDAQ:FB) (growth in traffic and higher user engagement levels on social media) witnessed relative tailwinds.
However, the coronavirus outbreak deflated advertising demand and spending, hurting the social-media giant’s top line in turn.
Insight Into Key Releases
Here we discuss five stocks scheduled to release their quarterly earnings on May 28.
VMware (NYSE:VMW)'s Zacks Investment Research
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