The G20 summit took place in Bali, Indonesia, on November 2022…
Microsoft: earnings report on July 27
Information is not investment advice
What will happen?
Microsoft, the US IT company, will present its earnings report for the second quarter on July 27 after the stock market closes (23:00 GMT+3). The release will be followed by an investor conference call at 00:30 MT, July 28.
What to expect?
Microsoft splits its business into three similarly sized segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Analysts are calling for strong growth across all three segments, as:
- Personal computer sales can keep growing monthly;
- Cloud computing platform Azure gets quickly adopted as the pandemic-led digital transformation spreads across the globe;
- Communication service Teams continue to gain momentum due to the continuation of work from home and online learning.
Analysts and experts forecast: Earnings per share = 1.91; Revenue = 44.06B
Investors are awaiting a strong earnings report. They have been buying back the stock on every drawdown for a while. It might play a terrible trick since one of the most popular trading strategies says: “buy the rumor, sell the news”.
Microsoft stock looks overbought according to RSI and MACD indicators. Institutionals might fix profits and drop the price after the report as it happened after the last report was published. It is important to wait for the right time to open the position. The best time for it will be right after the report presentation, where it will be more clear which side “whales” pick to push the price at.
If the price drops it will meet the closest support levels at $282, $275. On the flip side, the target is $300.
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This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.