Tech stocks are best positioned this earnings season, says analyst Nick Colas

  • 📰 CNBC
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

'Technology is honestly the place where you have to look both because of its importance to market and because you have a wide disparity of expectations, ' says DataTrek Research's Nick Colas.

It's expected to be a"sloppy" earnings season but there is one sector that is the best positioned as the first-quarter reporting gets underway, analyst Nick Colas told CNBC on Tuesday.

Tech companies have been bracing investors for a bad quarter – and that has led analysts to cut the numbers they expect the firms to hit. Because of that, Colas thinks they have a good chance to beat those expectations. Apple, in particular, is poised for an upside surprise, Colas predicted. Wall Street analysts are expecting a 14% drop to earnings and a 6% decline in revenues, he pointed out.

Amazon, on the other hand, has seen its expectations raised. Analysts expect the e-commerce company to grow earnings by 44%, Colas said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA

Canada Canada Latest News, Canada Canada Headlines