4 Mega-Tech Stocks Reaching for the Sky

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tech stocks - 4 Mega-Tech Stocks Reaching for the Sky

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Echoing President Donald Trump’s post-Iran attack tweet, “All is well” on Wall Street again as the major averages push higher. Fears over World War III are replaced, once again, with optimism around a further trade thaw between the United States and China.

The war trade is being quickly unwound, with gold, crude oil, and energy stocks selling off while the mega-cap technology stocks soar to the heavens.

Here are four familiar names going vertical:

Apple (AAPL)

Source: StockCharts

Apple (NASDAQ:AAPL) shares are pushing past the $300-a-share mark to close in on a double from the lows seen back in June. It seems like nothing can stop the iPhone maker as fans prepare for the release of an all-new handset later this year. Rumor is that the popular Apple Watch will get a new form factor as well, raising the stakes for a big upgrade cycle in 2020.

The company is expected to report results on Jan. 28 after the close. Analysts are looking for earnings of $4.38 per share on revenues of $86.2 billion.

Microsoft (MSFT)

Source: StockCharts

Microsoft (NASDAQ:MSFT) shares are also enjoying a push to fresh highs, moving past the $160-a-share level to mark a rise of more than 30% from the lows seen last summer. The company recently won a big Department of Defense cloud computing contract, a decision that Amazon (NASDAQ:AMZN) is appealing. But the good news motivated analysts at Cowen to upgrade shares back in December, assigning a $165 price target.

MSFT is expected to report results on Jan. 29 after the close. Analysts are looking for earnings of $1.27 per share on revenues of $35.7 billion.

Facebook (FB)

Source: StockCharts
Facebook (NASDAQ:FB) shares look set to break up and out of a two-year resistance range near $220 a share as privacy issues finally seem to be fading as investors instead focus on the ongoing success of its Instagram platform and new areas of growth such as its Oculus VR subsidiary. Deutsche Bank analysts raised their price target to a Street high of $270 a share in December, matching the price target of RBC analysts, citing relatively attractive valuations for the dominant social media company.

Facebook will next report results on Jan. 29 after the close. Analysts are looking for earnings of $2.50 per share on revenues of $20.9 billion.

Alphabet (GOOG)

Source: StockCharts

Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) shares are extending up and away from its 2018-2019 trading range with a push above the $1,400-a-share level. This marks roughly a 40% rise off of the lows seen back in June. Earlier this week, analysts at Pivotal Research raised their rating to “buy” on the stock, with a price target of $1,650 assigned.

The company’s latest effort is a push into online food delivery, moving in on Uber (NASDAQ:UBER). The company is expected to next report results on Feb. 3 after the close. Analysts are looking for earnings of $12.65 per share on revenues of $46.8 billion.


Article printed from InvestorPlace Media, https://investorplace.com/2020/01/4-mega-tech-stocks-reaching-for-the-sky/.

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