From Nasdaq:

The market hit record highs on Friday as Nvidia’s strong earnings sent technology and artificial intelligence-related stocks soaring. The Nasdaq rose 3% on Thursday, while the S&P 500 hit 5,088.80. Dow Jones added 0.16%, closing at 39,131.53. Investors are cautious about how long this momentum can last as the Fed’s rate decisions loom.

Stocks to watch this week include Baidu (BIDU) which reports on Tuesday. Analysts expect earnings of $2.29 per share on revenue of $4.74 billion. Citron Research believes Baidu is undervalued due to its AI capabilities. Salesforce (CRM) will report on Wednesday, and analysts expect earnings of $2.06 per share on revenue of $8.72 billion. Zscaler (ZS) reports on Thursday with expected earnings of 42 cents per share on revenue of $417.16 million.

Baidu shares have fallen 13% in the past six months but may see a turnaround with a potential upside of 90%. Salesforce has reversed pessimism with strong AI investments. Zscaler is positioned to benefit from cybersecurity spending trends with 36% revenue growth projected for 2024. Investors are eagerly awaiting these earnings reports to gauge future growth potential in the tech sector and beyond.



Read more at Nasdaq:: Earnings to Watch This Week (BIDU, CRM, ZS)