Zacks predicts earnings surprises for Apple, Amazon, Nvidia, and Tesla in Q1

From Nasdaq: 2024-05-06 06:10:00

Zacks.com released a list of companies likely to issue earnings surprises, including Apple, Amazon, Nvidia, and Tesla. The ‘Magnificent 7′ group had impressive growth numbers in Q1, impacting the S&P 500 earnings significantly. Tesla and Apple showed better-than-expected results, with Apple’s large buyback announcement. Total Q1 earnings for the Mag 7 are expected to be up +49%.

In the heart of Q1 earnings season, more than 1200 companies are reporting results, including Disney, Uber, Lyft, and Shopify. 400 S&P 500 index members have reported with earnings up +4.4% and revenues up +4.2%. Total S&P 500 earnings are expected to be up +5.3% for Q1. Tech and Energy sectors have opposite effects on growth.

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Read more at Nasdaq: Apple, Amazon, Nvidia and Tesla are part of Zacks Earnings Preview