Should You Buy the Dip in Magnificent 7 ETFs Before Q1 Earnings?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2024
0mins
Source: NASDAQ.COM
- Technology Sector Trading: The technology sector has seen brutal trading due to delayed rate cuts and geopolitical tensions, with the "Magnificent Seven" stocks losing $950 billion in market capitalization last week.
- Earnings Expectations: First-quarter earnings for the "Magnificent Seven" are expected to grow by 33% from the same period last year, outperforming the S&P 500.
- Upcoming Earnings Reports: Companies like Tesla, Meta Platforms, Microsoft, Alphabet, Amazon, Apple, and Nvidia are set to report their first-quarter earnings on various dates.
- Stock Analysis:
- Tesla: Negative earnings estimate revision and a decline in earnings and revenue expected.
- Meta Platforms: Positive earnings estimate revision and significant year-over-year earnings growth anticipated.
- Microsoft: Negative earnings estimate revision but impressive track record with earnings growth expected.
- Alphabet: No earnings estimate revision, good earnings surprise history, and growth expected.
- Amazon: Positive earnings estimate revision, substantial earnings and revenue growth expected.
- Apple: No earnings estimate revision, modest decline in earnings and revenues expected.
- Nvidia: Positive earnings estimate revision, significant earnings and revenue growth expected.
- ETFs Exposure:
- ETFs like Roundhill Magnificent Seven ETF, MicroSectors FANG+ ETN, Vanguard Mega Cap Growth ETF, Invesco S&P 500 Top 50 ETF, and iShares S&P 100 ETF offer exposure to the "Magnificent Seven" stocks.
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Analyst Views on GOOG
Wall Street analysts forecast GOOG stock price to fall
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 371.100
Low
255.00
Averages
336.08
High
400.00
Current: 371.100
Low
255.00
Averages
336.08
High
400.00
About GOOG
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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