3 Growth Tech Stocks to Buy Before Earnings and Hold for Years
The episode explores three growth-focused technology stocks set to release their results during the first week of November that investors might want to consider as buy and hold candidates...
Today’s episode of Full Court Finance at Zacks dives into the third quarter earnings season and the broader market ahead of a big week on Wall Street that features reports from some of the biggest tech companies on the planet. The episode then explores three growth-focused technology stocks set to release their results during the first week of November that investors might want to consider as buy and hold candidates.
October has been a big comeback month for Wall Street. The resurgence began right around October 4 when some big names fell into oversold technical levels, including the Nasdaq 100-tracking QQQ ETF. The S&P 500 is up over 6% since then and it hit new records on Monday. The Dow also broke new ground to start the last week of October, with the tech-heavy Nasdaq trading within around 1% of its records.
A ton of uncertainty remains heading into the winter and the holiday shopping period. But the bulls still fought their way back into control, shrugging off supply chain worries, rising prices for everything from energy to consumer staples, and other economic headwinds.
The market jumped Monday, with the Nasdaq up 1% through late afternoon trading, driven by Tesla’s TSLA huge jump. Other tech giants such as Apple AAPL and Microsoft MSFT didn’t move much, with their reports due out this week. Wall Street will be watching these releases closely, along with Amazon AMZN, Facebook FB, and others, and their guidance could help shape the market in the near term.
The third quarter earnings season has been stronger than projected so far, with the overall S&P 500 earnings outlook having climbed significantly in the last several weeks. S&P 500 margins also remain high and the interest rate environment should stay accommodating for stocks even when the Fed starts to lift its core rate (also read: Previewing Big Tech Earnings: Apple, Microsoft and Other Giants).
With this backdrop in mind, we look ahead to Square SQ, Roku ROKU, and Etsy ETSY. All of the stocks report their quarterly results during the first week of November and all three might be worth buying as long-term, growth-focused additions to a well-diversified portfolio.
The last stock up is arts and craft fair-style e-commerce player Etsy, which thrives in a crowded space and its stock has surged over the last few months.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN): Free Stock Analysis Report
JPMorgan Chase & Co. (JPM): Free Stock Analysis Report
Apple Inc. (AAPL): Free Stock Analysis Report
Microsoft Corporation (MSFT): Free Stock Analysis Report
Netflix, Inc. (NFLX): Free Stock Analysis Report
The Walt Disney Company (DIS): Free Stock Analysis Report
Tesla, Inc. (TSLA): Free Stock Analysis Report
Facebook, Inc. (FB): Free Stock Analysis Report
Etsy, Inc. (ETSY): Free Stock Analysis Report
PayPal Holdings, Inc. (PYPL): Free Stock Analysis Report
Square, Inc. (SQ): Free Stock Analysis Report
Roku, Inc. (ROKU): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research