Quarterly earnings results this Tuesday morning will have Home Depot (HD), Alibaba (BABA), and Sony (SONY) on close watch.
Home Depot’s revenue will give investors a clue on how they are spending their disposable income. Weak sales for DIY-related home repairs would indicate that consumers are cutting back on their spending.
China technology stocks already staged an incredible rally, rising by 50% or more in some cases. While traders profited from Bilibili (BILI) or Nio (NIO), Alibaba already rose as well. BABA stock bottomed at below $68 on April 22, 2024. Shares closed at $84.60 on Monday.
Alibaba’s e-commerce results will indicate how much pressure it faces from PDD (PDD), whose Temu app is a global sensation.
Sony shares already slumped from $100 to $75.11, until it closed at $76.15. Although the stock is cheap at a 14.72 times price-to-earnings multiple, investors lack confidence.
On Wednesday, watch Cisco Systems (CSCO). Markets ignored the stock, buying AI stocks instead. Walmart (WMT), JD, Baidu (BIDU), Applied Materials (AMAT), and Under Armor (UA) will report their results on Thursday. Among them, watch Walmart. The retailer will likely post strong revenue as customers enjoy its one-stop shopping experience.
Applied Materials, despite trading at a 52-week high, may post impressive quarterly results. That would send the stock higher.
