Bearing in mind that some of the biggest U.S. companies will be sharing their quarterly earnings this week, investor interest will likely be majorly on corporate America and the financial stability of its most high profile corporations.
During the upcoming five-day time-frame, around a third of S&P 500 companies are aimed to post their most recent data along with their outlook predictions for the rest of the year, including such tech darlings as Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN) and industrial names, such as Boeing (NYSE:BA) and Caterpillar (NYSE:CAT).
Approximately 87% of S&P 500 companies that shared results so far this season have surpassed Wall Street expectations. Following some of the recent studies, investors are celebrating a rapid economic rebound and fueling corporate America despite the threat of growing inflation.
During this important week for the Q2 earnings season, we will be watching major tech mega caps whose earnings releases would help understand whether they are still benefiting from the pandemic-fueled demand growth that pushed some companies shares to record high prices:
Apple (NASDAQ:AAPL), the epic creator of the popular and iconic iPhone, as well as computers and smart wearables, is ready to share its fiscal 2021, Q3 earnings on Tuesday, July 27th after the market closes. Experts, on average, expect the company will demonstrate $1.01 a share profit on sales of $73.3 billion.
Shares of Apple have kept moving higher this year after the stock showed a stellar performance in 2020. Clear signs that the sales of its innovative iPhone will be strong enough this year are helping AAPL to move higher in 2021. As of its fiscal second quarter, iPhone sales soared 66%. It was the first full period for the AAPL’s model 12 which uses 5G technology.
Apple also released new MacBook Pros, a Mac mini, MacBook Airs, new AirPods, new iPads, and updated Apple Watches this year to fully enjoy the work-from-home environment benefit which is boosting consumers’ technology expectations.
The stock boosted more than 11% this year, following an 80% jump higher in 2020. AAPL finished trading on Friday at $148.56.