The upward trend in the stock market is back, helped by the investor outlook. After that, the US central bank is in no rush to raise interest rates as it begins to reverse some of the monetary stimulus it has provided.
Shares have strengthened over the past week, reaching new highs on Friday after Federal Reserve Chairman Jerome Powell said the central bank may begin phasing out its bond-buying program this year. a first step towards reversing the easy Monterey terms introduced last year. to counter the recession caused by the pandemic.
He also said in a speech at the Kansas City Fed's annual symposium that winding down the bond program does not mean the Fed will automatically raise interest rates.
Amid this renewed economic optimism, here are three technology stocks to keep an eye on over the coming week:
1. Zoom Video
Zoom Video Communications (NASDAQ:) reports its second quarter results for fiscal year 2022, after the market close on Monday, August 30. Analysts predict $1.16 per share earnings on a sale of $991.21 million.
The video communications platform leader had a great year during the pandemic, when stay-at-home requirements and remote work trends significantly boosted sales. Sales and earnings have been consistent every quarter and the company continued to raise its expectations. In June, Zoom forecast revenue for the last quarter that exceeded analyst estimates, indicating the company's ability to retain and add large customers even as the intense demand created by the pandemic eases. off.
Shares of the San Jose, California-based company, after gaining nearly 400% last year, have taken a lull this year. They traded at $340.81 as of Friday's close and had changed little for the year.
2. Broadcom
The last major chipmaker to announce its earnings this season is Broadcom (NASDAQ:). The company will report its fiscal results for the third quarter of 2021 after the market closes on Thursday, September 2. Analysts expect $6.88 per share of earnings with expected revenues of $6.76 billion.
In the company's latest press release, investors will be eager to know whether Broadcom's current strategy, spearheaded by CEO Hock Tan – to grow through both acquisitions and buying struggling software assets – is paying off.
Broadcom is one of the world's largest chip manufacturers with industries that include smartphone parts, key network equipment components and semiconductors for home Wi-Fi devices and set-top boxes.
In June, It released a bullish forecast for quarterly sales, boosted by demand for chips used in data centers and equipment needed to improve consumer internet speeds at home. Broadcom shares, which closed at $495.94 Friday, are up about 11% this year and about 44% in the past 12 months.
3. DocuSign
The electronic signature company, DocuSign (NASDAQ:) is another strong technology sector reporting its quarterly results after the market closes on Thursday. Analysts see $0.40 per share earnings on revenue of $488.71 million.
The San Francisco-based application software company had experience with its digital services, as the shift to remote work and social distancing prompted companies to seek digital signatures and manage their contracts electronically. one of Wall Street's biggest success stories in 2020 after stocks skyrocketed, behind Zoom Video and vaccine maker Moderna (NASDAQ:). what he predicts is a $50 billion addressable market. DocuSign stock closed Friday at $300.76, after rising 35% this year.
