Right now I'm keeping a close eye on META Platforms (META). Meta is one of the few tech stocks that's held up in the wake of this week's market correction. I believe its strength has a lot to do with earnings momentum. Last week META got the best earnings reaction out of any of the Magnificent 7 stocks so far. Better than other big tech names like Apple and Amazon. When you look at META's recent numbers, it's no surprise why Wall Street is loving them right now. For Q2, META posted a 73% net income boost to $13.47 billion, a big jump from $7.79 billion in the previous quarter. It also raised revenue guidance between $38.5 billion to $41 billion, which was ahead of the analysts forecast of $39 billion. Lastly, META's recent earnings beat marks the fourth straight quarter of 20% excess growth. But even with strong earnings, there's another potential catalyst potential working in META's favor. Due to the recent market correction, there's a chance at a bounce. This bounce could be as fierce for the stock as its earnings report was last week. That's why I'll look go long on META in Daily Profits Live. I've already closed a 15% winner on the company in less than 1 trading day this week, and I'll be looking to add more contracts going forward. Action Plan: With volatility still shaking up markets and strong earnings momentum, I believe we could be in for another bounce in META's favor. Click here to see exactly how I'm playing META in Daily Profits Live. |
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