From Nasdaq: 2024-11-22 08:21:00

The technology sector experiences significant growth in Q3 2024 due to advancements in AI, machine learning, and GenAI. Cloud computing, 5G, IoT, and blockchain adoption drive innovation. Major cloud providers invest in data center capacity to meet rising AI demand. GenAI spending forecasted to reach $297 billion by 2027, with a 35% share by 2027.

Tech companies report robust earnings in Q3 2024, with 77.5% of S&P 500 tech firms showing an 18% YoY earnings increase. 85.5% beat EPS estimates, showcasing sector resilience. Expectations high for upcoming tech company earnings reports. Key factor for stocks is a combination of Zacks Rank and positive Earnings ESP for potential surprises.

Rubrik, Pure Storage, and Hewlett Packard Enterprise are tech stocks likely to outperform in the upcoming earnings season. Rubrik reports on Dec. 5 with an Earnings ESP of +0.42%. Pure Storage reports on Dec. 3 with an Earnings ESP of +2.98%. Hewlett Packard Enterprise reports on Dec. 5 with an Earnings ESP of +1.51%. Consensus estimates show positive outlooks for these companies.



Read more at Nasdaq:: 3 Technology Stocks Likely to Outpace Estimates This Earnings Season