Quantcast
3 Growth Tech Stocks to Buy Before Earnings and Hold for Years

3 Growth Tech Stocks to Buy Before Earnings and Hold for Years

Posted On October 28, 2021 1:26 pm
By:

Today’s episode of Full Court Finance at Zacks dives into the third quarter earnings season and the broader market ahead of a big week on Wall Street that features reports from some of the biggest tech companies on the planet. The episode then explores three growth-focused technology stocks set to release their results during the first week of November that investors might want to consider as buy and hold candidates.

October has been a big comeback month for Wall Street. The resurgence began right around October 4 when some big names fell into oversold technical levels, including the Nasdaq 100-tracking QQQ ETF. The S&P 500 is up over 6% since then and it hit new records on Monday. The Dow also broke new ground to start the last week of October, with the tech-heavy Nasdaq trading within around 1% of its records.

A ton of uncertainty remains heading into the winter and the holiday shopping period. But the bulls still fought their way back into control, shrugging off supply chain worries, rising prices for everything from energy to consumer staples, and other economic headwinds.

The market jumped Monday, with the Nasdaq up 1% through late afternoon trading, driven by Tesla’s TSLA huge jump. Other tech giants such as Apple AAPL and Microsoft MSFT didn’t move much, with their reports due out this week. Wall Street will be watching these releases closely, along with Amazon AMZN, Facebook FB, and others, and their guidance could help shape the market in the near term.

The third quarter earnings season has been stronger than projected so far, with the overall S&P 500 earnings outlook having climbed significantly in the last several weeks. S&P 500 margins also remain high and the interest rate environment should stay accommodating for stocks even when the Fed starts to lift its core rate (also read: Previewing Big Tech Earnings: Apple, Microsoft and Other Giants).

With this backdrop in mind, we look ahead to Square SQ, Roku ROKU, and Etsy ETSY. All of the stocks report their quarterly results during the first week of November and all three might be worth buying as long-term, growth-focused additions to a well-diversified portfolio.

Fintech standout Square has transformed into a diversified financial services firm for both consumers and businesses, as it competes against PayPal PYPL, JPMorgan Chase JPM, and many others.

Meanwhile…

 

Continue reading at YAHOO! FINANCE

 

About author

Leave a reply

Your email address will not be published. Required fields are marked *