Categories Earnings, U.S. Markets News

Apple, AMD, and 6 other tech stocks reporting earnings this week

Apple, AMD, Qualcomm, Pinterest, and more earnings are scheduled for the week between July 29 and August 2. Check out what to expect from the major earnings of tech stocks that report this week.

Apple (NASDAQ: AAPL) will announce third-quarter earnings on Tuesday after the bell. Analysts expect earnings to fall by 10.30% to $2.10 per share while revenue will rise by 0.20% to $53.39 billion. The results were hurt by trade war concerns and a slowdown in iPhone sales. Also, the sales growth of the iPad could be slow in the second half of 2019 while other product sales growth may not be meaningful to support total revenue growth.

Advanced Micro Devices (NASDAQ: AMD) will report second-quarter results on Tuesday. Analysts expect earnings to plunge by 42.90% to $0.09 per share as the bottom line will be impacted by higher costs and expenses. Revenue is anticipated to drop by 13.20% to $1.52 billion, hurt by average selling prices and shipment volumes.

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Image for representation only (Courtesy: skeeze from Pixabay)

FireEye (NASDAQ: FEYE) is set to post second-quarter results on Tuesday. Analysts predict earnings of $0.01 per share on revenue of $215.2 million. The results will be benefited by demand for its products, traction in email security, network security, and Endpoint security solutions, as well as continued focus on the Helix platform.

Qualcomm (NASDAQ: QCOM) will post Q3 results on Wednesday after the bell. Analysts project the company to report earnings of $0.75 per share on revenue of $5.08 billion. The results will be hurt by the continued slump in the semiconductor market, and declines in the CDMA Technologies and Technology Licensing segments.

Twilio (NYSE: TWLO) will announce Q2 earnings on Wednesday. Earnings are expected to be in-line with last year at $0.03 per share and revenue is likely to jump by 78.80% to $264.15 million. The results will be benefited by customer growth, expansion rates, strength in core voice and messaging products as well as email addition.

Also read: Global 5G connections will hit 2.7 billion in 2021

Western Digital (NASDAQ: WDC) is set to post fourth-quarter results on Wednesday. Analysts project earnings to plunge by 95.30% to $0.17 per share due to lower revenues and higher costs and expenses. Revenue is predicted to drop by 28.40% to $3.67 billion as it faces challenges owing to NAND flash pricing. This has been on the decline on account of oversupply and weaker-than-expected end-market demand growth.

Pinterest (NYSE: PINS) will report Q2 earnings on Thursday after the bell. Analysts see a loss of $0.08 per share on revenue of $235.53 million. The results will be benefited by monthly active users and advertising revenue. Pinterest generates revenue by selling advertising for marketers and companies that gain visibility for their brands.

Seagate Technology (NASDAQ: STX) could post Q4 results on Friday before the bell. Earnings are anticipated to plunge by 48.10% to $0.84 per share and revenue is likely to drop by 17.90% to $2.33 billion. The company has experienced a decline in NAND flash prices, price erosion and a decrease in exabytes shipment. The bottom line will be hurt by higher costs and expenses, as well as costs associated with the investments in new avenues.

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