U.S. stocks are expected to see more volatility this week, since Q2 earnings season comes to its peak, with releases expected from the mega-cap tech stocks, such as Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), Google-parent Alphabet (NASDAQ:GOOGL), Facebook (NASDAQ:FB), and Tesla (NASDAQ:TSLA).
More so, this week becomes even more attractive for investors bearing in mind that, other high-profile companies, such as Boeing (NYSE:BA), McDonald’s (NYSE:MCD), Caterpillar (NYSE:CAT), General Electric (NYSE:GE), 3M (NYSE:MMM), Visa (NYSE:V), Mastercard (NYSE:MA), Pfizer (NYSE:PFE), United Parcel Service (NYSE:UPS), and ExxonMobil (NYSE:XOM) will also share their reports.
Stock to Buy: Pinterest
Pinterest (NYSE:PINS) will capture everyone’s interest this week, as investors are looking forward to the latest financial data from the social media network, which is set to release its earnings on Thursday, July 29th after the closing bell.
It has surpassed Wall Street’s estimates for profit and sales for four quarters in sequence thanks to its fast user growth, which has transformed into higher advertising revenue.
Consensus calls for the tech company to post second quarter earnings per share (EPS) of $0.13, considerably improving from a loss of $0.07 per share in the same period a year ago.
Revenue is expected to increase twice than the year-ago period, surging 106% to $562 million, inspired by strong advertiser interest as well as positive returns from its ongoing international expansion.
Thus, investors will monitor Pinterest’s update on global monthly active users (MAUs) to check if it can preserve its strong pace of growth even as coronavirus-related restrictions recede. Global MAUs soared 30% year-over-year to 478 million in the last quarter.