2 Big Tech Stocks That Could Soar on Earnings
Earnings season is just around the corner and Wall Street is jittery.
Though the impact of the coronavirus didn't pick up steam until mid-March, nearly the end of the quarter, the shutdowns that spread across the country have led to a wide range of companies losing sales and reporting significant losses. Discretionary retailers and restaurants have already issued warnings, and manufacturers like Ford are also facing strong headwinds as the carmaker said that vehicle wholesales fell 21% in the first quarter. Meanwhile, energy stocks have taken a beating, with oil prices at historic lows and demand way down.
However, the technology sector has generally performed well during the crisis since being stuck at home means that people are even more reliant on digital tools to help them work from home, be entertained, and have essentials delivered. And though cloud stocks like Zoom Video Communications and Slack Technologies have earned a lot of investor attention, two big-name tech stocks, Netflix (NASDAQ: NFLX) and Amazon (NASDAQ: AMZN), could be poised for big gains this earnings season.
Source Fool.com
