5 Stocks to Buy Before Their Earnings Reports

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In this article, we discuss the 5 stocks to buy before their earnings reports. If you want to read about some more stocks expected to gain following their quarterly results, go directly to 10 Stocks to Buy Before Their Earnings Reports.

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

Earnings Announcement Date: July 28 

Apple Inc. (NASDAQ:AAPL) is a Cupertino, California-based tech giant that will report its Q3 FY22 results on July 28.

T. Michael Walkley at Canaccord thinks that the company will report solid Q3 FY22 results and provide constructive commentary for Q4 FY22. The analyst thinks that the 5G upgrade cycle will be beneficial for Apple Inc. (NASDAQ:AAPL) for many years to come. Furthermore, other hardware divisions are also expected to grow in double digits as there is a continuous shift towards high-margin services. Walkley believes that Apple Inc.’s (NASDAQ:AAPL) current share price is attractive for a long-term investment horizon. The analyst gave these comments in a research note issued to investors on July 20. He gave Apple Inc. (NASDAQ:AAPL) stock a Buy rating and a target price of $200. The target price reflects a potential upside of over 30% from the closing price as of July 20.

Weitz Investment Management discussed its outlook on Apple Inc. (NASDAQ:AAPL) in its Q1 2022 investor letter. Here’s what it said:

“Changes to Apple’s (NASDAQ:AAPL) mobile operating system have temporarily impacted growth of Meta’s advertising business just as the company’s investments in Instagram’s “Reels” feature ramp ahead of full monetization. (Shareholders can read research analyst Jon Baker’s in-depth discussion of current events impacting Meta and reasons why we’re optimistic about the company in our recent Analyst Corner feature.) CoreCard (formerly Intelligent Systems) struggled early in the fiscal year to hire and train staff to handle growth from new and existing clients. Lately, Apple-related headlines also took a bite out of CoreCard shares, as reports suggest Apple is exploring a transition of its credit card and other financial services to internally built solutions. Such a move would create revenue headwinds for its partners, which CoreCard is widely believed to be. We are monitoring these developments and stress-testing our model accordingly.”

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