In this article, we discuss the 5 most anticipated tech earnings to watch. If you want to see some more earnings on the list, go directly to 10 Most Anticipated Tech Earnings to Watch.
5. Texas Instruments Incorporated (NASDAQ:TXN)
Number of Hedge Fund Holders: 55
Texas Instruments Incorporated (NASDAQ:TXN) will report its financial results for the third quarter on October 25, 2022. Analysts, on average, are calling for earnings of $2.39 per share on revenue of $5.14 billion.
This compares to earnings of $2.07 per share on revenue of $4.64 billion reported by Texas Instruments Incorporated (NASDAQ:TXN) in the corresponding period of 2021.
Earlier this week, Cowen analyst Joshua Buchalter issued a “Market Perform” rating for Texas Instruments Incorporated (NASDAQ:TXN) along with a price target of $170 per share. Buchalter believes the company’s gross margins and free cash flow will come under pressure considering the investments required to boost its long-term capacity.
4. Lam Research Corporation (NASDAQ:LRCX)
Number of Hedge Fund Holders: 56
Lam Research Corporation (NASDAQ:LRCX) plans to announce its third-quarter earnings on October 19, 2022. Analysts expect the wafer fabrication equipment provider to earn $9.55 per share on revenue of $4.88 billion.
Moving forward, Lam Research Corporation (NASDAQ:LRCX) could take a hit from a recently imposed ban on chip shipments to China. BofA analyst Vivek Arya thinks new regulations could reduce the company’s sales between 5 – 10 percent.
Meanwhile, Lam Research Corporation (NASDAQ:LRCX) and some other semiconductor equipment firms have reportedly halted equipment support for Chinese customers. They have also stopped the supply of new chip-production equipment to the country.
3. Fiserv, Inc. (NASDAQ:FISV)
Number of Hedge Fund Holders: 59
Fiserv, Inc. (NASDAQ:FISV) will release its profit and sales for the third quarter before the market opens on October 27, 2022. Fiserv has done well so far this year relative to most fintech companies.
The stock has lost about 14 percent of its value on a year-to-date basis. Atlantic Equities analyst Kunaal Malde also thinks Fiserv, Inc. (NASDAQ:FISV) has significantly outperformed the sector.
Malde recently cut his price target for Fiserv, Inc. (NASDAQ:FISV) from $130 per share to $105 per share, arguing that the stock now trades at a significant premium to competitors.
2. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 65
Intel Corporation (NASDAQ:INTC) is scheduled to release its financial results for the third quarter after the closing bell on October 27, 2022. Analysts expect Intel to take a hit from a slowdown in the global demand for PCs.
Earlier this week, Needham analyst Quinn Bolton trimmed his price target for Intel Corporation (NASDAQ:INTC) from $40 per share to $32 per share, citing fading demand across most end markets.
Separately, BofA analyst Vivek Arya recently reaffirmed an “Underperform” rating for Intel Corporation (NASDAQ:INTC). The analyst believes the company will keep losing market share to AMD and Taiwan Semiconductor.
Meanwhile, asset management firm Baron Funds also shared its view about Intel Corporation (NASDAQ:INTC) in its second-quarter 2022 investor letter, stating:
“Then, there is the case of Intel Corporation (NASDAQ:INTC). A blue-chip tech champion with a market capitalization of over $500 billion in early 2000, the stock was trading at a P/E multiple of 42. It was a fast-growing company whose stock price and multiple declined more or less in line with its peers. However, unlike Google, Intel’s net income has grown from $7.3 billion in 1999 to $19.9 billion in 2021, a compounded annual growth rate of just 4.7%. Its growth from the dot com era has not proven to be durable, and Intel has yet to trade at the price it attained in 1999.”
1. ServiceNow, Inc. (NYSE:NOW)
Number of Hedge Fund Holders: 99
ServiceNow, Inc. (NYSE:NOW) is scheduled to post its third-quarter earnings on October 26, 2022. Analysts expect the software firm to report adjusted earnings of $1.85 per share, compared to $1.55 per share in the year-ago period.
In addition, ServiceNow, Inc. (NYSE:NOW) is expected to generate revenue of $1.85 billion versus $1.5 billion in the corresponding period of 2021.
Separately, ServiceNow, Inc. (NYSE:NOW) appeared in the second-quarter 2022 investor letter of investment management firm Aristotle Capital Management. Here’s what the firm said:
“ServiceNow, Inc. (NYSE:NOW) provides digital workflows on a single enterprise cloud platform called the Now Platform. The company offers products on the Now Platform and standard applications specially designed for automating IT, Employee and Customer workflows. ServiceNow delivers software via the Internet through a simple and easy-to-use interface that can deploy the package offerings and allow customers to build their applications. Customers can choose to host software by themselves or through third-party service providers. The company offers professional services, both directly and through partners, to help customers deploy and utilize the products and platform. We consider ServiceNow a leading beneficiary of the digital transformation initiatives taking place in enterprises around the world. We believe it is the best-of-breed technology company with attractive topline growth metrics supported by a growing Total Addressable Market (TAM) along with positive FREE cash flow which is recycled into accelerating growth initiatives both organically and through selective M&A.”
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