Back to top

Image: Bigstock

Nvidia and Salesforce: Buy These Two Tech Stocks Before Earnings?

Read MoreHide Full Article

On today’s episode of Full Court Finance at Zacks we explore the market and the overall improving earnings picture. The episode then dives into Nvidia (NVDA - Free Report) and Salesforce (CRM - Free Report) before they release their first quarter financial results to help investors decide if they should buy either of the tech stocks.

Stocks jumped to start the week, with the Nasdaq up around 1.7% through late-afternoon trading Monday, as Wall Street continues to buy tech stocks when they feel there has been a big enough pullback. Meanwhile, both the S&P and the Dow started the week on a high note, up 1.2% and 0.70%, respectively. The positive start is a welcome sign after some up and down weeks amid inflation fears and the subsequent volatility.

Inflation worries kicked into higher gear after April’s big jump in consumer prices. Therefore, investors must remain focused on rising prices and see if they force the Fed to raise interest rates earlier than expected. But Wall Street has seemed to cool down on these fears, as more bullish investors look to overall GDP growth in 2021, the economic reopening, and the improving earnings picture (also read: Looking Ahead to Q2 Earnings Season).

Last week, Target (TGT - Free Report) and Walmart (WMT - Free Report) posted blowout quarterly earnings results and Wall Street reacted positively. Yet, the market largely ignored impressive quarterly results from Apple (AAPL - Free Report) , Microsoft (MSFT - Free Report) , and other technology giants earlier in the season. This brings us to two of the last huge names in tech left to report their first quarter financial results. 

Nvidia is set to release its first quarter FY22 financial results on Wednesday, May 26. The stock was sitting nearly 10% below its records just last Thursday. But NVDA has surged since the chipmaker announced its plans to roll out a 4-for-1 stock split—Apple and Tesla (TSLA - Free Report) completed splits last year.

Meanwhile, Salesforce shares have moved roughly sideways in 2021 to lag the tech space and the market. But the cloud-based business software company is coming off a record-breaking year and is poised for even more growth heading into its Q1 report due on Thursday, May 27.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>