GOOGLE’S strong quarterly results, which unleashed a massive surge in its shares on Friday, has investors feeling upbeat heading into this week’s tech-heavy slate of earnings reports.
Among the numerous tech companies releasing earnings next week are International Business Machines, Microsoft and Apple, all of which are expected to show growth.
Wall Street analysts expect earnings of the S&P technology sector to grow by 2.7 per cent for the second quarter.
So far, big-name tech companies have provided the two biggest reactions from investors in this reporting season. After Netflix reported stronger-than-expected subscriber growth on Wednesday, its shares increased 18 per cent, while Google’s results triggered the biggest one-day move in the stock in more than seven years, as shares surpassed $700 for the first time ever.
Investors will be looking closely at each major tech company’s latest innovations to see if new platforms and tools have the potential to drive long-term growth.
IBM will open the week with its second-quarter earnings today. Apple and Microsoft will both release their figures tomorrow. Analysts will be watching for the first official figures on the Apple Watch.
Yahoo, Qualcomm and Texas Instruments will also report earnings this week.
In addition to tech companies, a host of banks including Morgan Stanley will report earnings this week.