The weak earnings report from Oracle (ORCL) kicked off the selling pressure for tech stocks. ORCL stock lost 9% last week. The firm hosted an excellent earnings call that will disprove short-sighted markets.
Oracle’s inability to get the data centers handed over and filled up fast enough hindered its growth.
ORCL stock is now in bargain territory.
Creative subscription software firm Adobe (ADBE) dropped 5.74% last week. It posted revenue growing by over 11%. Investors may blame the algorithms for sending the stock lower in after-market trade immediately after the earnings report.
Traders might wait for an entry price in the $350s. The appropriate fair value is potentially lower. The stock trades at a price-to-earnings of over 32 times, compared to the annual revenue growth of 10%.
Etsy (ETSY) drifted lower after announcing a steep job cut. The 11% job cut suggests that the firm has costs that far exceed its growth potential. With less staff, service quality may fall.
S&P 500 member Pfizer (PFE) touched new lows almost daily last week after posting a disappointing outlook for 2024. The massive Seagen buyout adds risks for investors. Despite the new lows, the firm raised its dividend by 2.4% to 42 cents a share.
The over 6% yield on Pfizer stock will encourage its investors to hold simply for the steady income.
