Tech giants report earnings, get ready for rebounds
CNBC’s Jim Cramer urged investors to use down days like Friday to prepare portfolios for the upcoming Fed rate hike, but only if they have the funds to do so.
“After today’s disaster, we’re actually probably ready for one or two more hits before we settle for what I think will be a weak mid-week recovery,” he said.
“Once again, my advice to you is that you need to take some time off from any bounces to prepare for the coming rate hike. You can put some money into work on days like today…but only if you have the money to start with.” he later added.
The Dow Jones Industrial Average fell 2.8% on Friday, the biggest drop since October 2020. The S&P 500 fell 2.8% and the Nasdaq Composite fell 2.6%.
The ‘Mad Money’ host also reported earnings next week.
All earnings and earnings estimates are provided by FactSet.
Monday: Coca Cola
- 1st quarter 2022 earnings report before the call; Conference call at 8:30 AM ET
- Projected earnings per share: 58 cents.
- Projected revenue: $9.83 billion.
“I would be a buyer in case of weakness because Coca-Cola has tremendous price power,” Cramer said.
Tuesday: Microsoft, Alphabet, Chipotle
Microsoft
- Q3 2022 Post-Closed Earnings Statement; Conference call at 5:30 pm ET
- Projected earnings per share: $2.19.
- Projected revenue: $49.01 billion.
The company “should have an amazing number … but that might not matter because the stock is expensive,” Cramer said.
Alphabet
- 1Q 2022 Earnings Statement after close; conference call at 5:00 pm ET
- Projected earnings per share: $25.70.
- Projected revenue: $68.07 billion
“People turned on [Alphabet] now because they think online advertising has stopped growing — I think they are wrong because Google is a special case,” Cramer said.
Chipotle
- 2022 Q1 earnings report at 4:10 pm ET; Conference call at 4:30 pm ET
- Projected earnings per share: $5.64.
- Projected revenue: $2.01 billion.
Cramer said the company is selling in an environment where interest rates will rise.
Wednesday: Boeing, Meta
Boeing
- 1st Quarter 2022 Earnings Statement before the call; Conference call at 10:30 AM ET
- Projected loss: loss of 25 cents per share
- Projected revenue: $16.02 billion.
“We are all used to Boeing being ugly and I expect more ugliness,” Kramer said.
Meta
- 1Q 2022 Earnings Statement after close; conference call at 5:00 pm ET
- Projected earnings per share: $2.56.
- Projected revenue: $28.29 billion.
Cramer said he believes parent company Facebook will skip the quarter and cut its outlook. “I keep some powder dry to buy for the Charitable Trust.” he added.
Thursday: Twitter, Amazon, Apple.
- 1st quarter 2022 earnings report before the call; conference call at 8am ET
- Projected earnings per share: 5 cents
- Projected revenue: $1.23 billion.
Kramer said that unless the social network announces a new feature or initiative, Elon Musk “should go for a full corporate raid and go after Twitter by any means necessary.”
Amazon
- 2022 Q1 earnings report at 4:01 pm ET; Conference call at 5:30 pm ET
- Projected earnings per share: $8.33.
- Projected revenue: $116.45 billion.
“I think Amazon is not facing resistance from any other retailer, but it is still a high-multiplier stock, meaning it may not be able to deliver significant growth even if the quarter is exciting,” Cramer said. .
Apple
- 2022 Q2 earnings report at 4:30 pm ET; conference call at 5:00 pm ET
- Projected earnings per share: $1.43.
- Projected revenue: $94.11 billion.
Kramer said it’s hard to expect any growth from the iPhone maker given the Covid shutdown in China.
Friday: Chevron
- 1st quarter 2022 earnings report before the call; conference call at 11:00 AM ET
- Projected earnings per share: $3.42.
- Projected revenue: $51.14 billion
“I would like Chevron stock to go down so we can buy more. [for the Charitable Trust] with an even higher dividend yield,” Cramer said.
Disclosure: Cramer’s Charitable Trust holds shares in Amazon, Apple, Boeing, Chevron, Meta and Microsoft.
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