Big Gains Ahead for This Marquee Tech Name

As we mentioned yesterday, a swath of big names are and will be reporting.

The results will be a great measure for what we can expect for the remainder of the year in tech stocks.

So far we’ve had some good and bad reports. Amazon and Twitter had two of the ugliest post-earnings-call slides.

Amazon’s Feeling the Pressure

Amazon (NASDAQ: AMZN) shares fell sharply after their evening earnings call yesterday. Ahead of today’s open shares were down almost 4%. This was AMZN’s second miss in a row. Wall Street estimates for its third-quarter earnings were set at a consensus $4.62 per share. Actual earnings fell short, coming in at $4.23 a share.

The drawdown cost Amazon nearly $40 billion in market cap value, and Jeff Bezos is now at risk of losing his title of “richest man in the world”…

Folks tweeted about this left and right… but that didn’t matter — Twitter’s earning stunk too.

Social Media’s Lame Duck Loses 20%

Twitter Inc. (NYSE: TWTR) dropped roughly 20% yesterday, making it the biggest loser in tech this week. Twitter execs blamed missed revenue on an algo bug that significantly impacted ad revenue. I guess a decline of 1 million users is a non sequitur…

Our resident trading expert Greg Guenthner on TWTR notes:

Twitter missed expectations across the board Thursday morning and plunged almost 20% at the opening bell. No, that’s not a typo. The stock has completely fallen apart this week.

Hopefully, you picked up on the warning signs and dumped your shares by Wednesday.

If not, don’t worry — you could make that money back in other tech stocks. Because while some big names swooned, others shined this week.

MSFT… You Could Be up 33%

Back in July 2018 Microsoft (NASDAQ: MSFT) was one of our favorite recos. We liked the company for a number of reasons including its push into cloud services with Azure. We also really liked its revenue stream from licensing.

Sure, MSFT has had plenty of head winds to battle… The trade war with China, for example, has made trading tech names and semi stocks a lot trickier this year.

That all said, MSFT is a winner through and through. Up 33% since our first reco back in July 2018.

And this week we were treated to more good news.

Wednesday evening, MSFT reported. The company beat earnings estimates despite growth slowing in its massive cloud computing division.

This morning we saw shares jump a bit again. The stock today is trading on the high side of its summer range, but strong earnings and a looming holiday season could help MSFT break out.

I’m confident we can expect new highs for MSFT through Q4.

For Technology Profits Daily,

Greg Guenthner

Ray Blanco
Chief Technology Expert, Technology Profits Daily

You May Also Be Interested In:

Dow 28,000!

The market is up but no one is quite sure what to make of the trade war. It may be a case of “The Boy Who Cried Wolf.” European markets are a bit weaker while oil is up a little bit.

Ray Blanco

Ray Blanco is the editor of Technology Profits Confidential as well as Breakthrough Technology Alert, Ray Blanco’s FDA Trader, Penny Pot Profits, and Technology Profits Daily. Ray has been with Seven Figure Publishing since 2010. In 2019, his closed positions in Technology Profits Confidential outperformed the S&P500 by 50%.

View More By Ray Blanco

LEARN TO TRADE LIKE A PRO WITH THE SEVEN FIGURE PODCAST! [CLICK HERE]