Tech Giants Report Earnings, Prepare for Rebounds

CNBC’s Jim Cramer urged investors to take advantage of down days like Friday to prepare portfolios for upcoming Federal Reserve rate hikes, but only if they have the means to do so.

“After today’s disaster, we’re probably good for another thrashing or two before settling into what I think will be a weak mid-week rebound,” he said.

“Again, I want to warn you that you need to take a little bit off the table on any of the bounces to prepare for upcoming rate hikes. You can put a little money to work on days like today… but only if you have the money.” to get started”, then added.

The Dow Jones Industrial Average fell 2.8% on Friday, its biggest loss since October 2020. The S&P 500 fell 2.8% and the Nasdaq Composite fell 2.6%.

The “Mad Money” host also previewed next week’s earnings list.

All earnings and revenue estimates courtesy of FactSet.

Monday: Coca Cola

  • First Quarter 2022 Earnings Release Before the Bell; conference call at 8:30 am ET
  • Projected EPS: 58 cents
  • Projected revenue: $9.83 billion

“I would be a weakness buyer because Coca-Cola has tremendous pricing power,” Cramer said.

Tuesday: Microsoft, Alphabet, Chipotle

Microsoft

  • Third Quarter 2022 Earnings Release After Close; conference call at 5:30 pm ET
  • Projected EPS: $2.19
  • Projected revenue: $49.01 billion

The company “should have a great number … but it might not matter because the stock is expensive,” Cramer said.

Alphabet

  • First Quarter 2022 Earnings Release After Close; conference call at 5 pm ET
  • Projected EPS: $25.70
  • Projected revenue: $68.07 billion

“People have turned on [Alphabet] now because they think online advertising has stopped growing, I think they’re wrong because Google is a special case,” Cramer said.

chipotle

  • Earnings release for the first quarter of 2022 at 4:10 pm ET; conference call at 4:30 pm ET
  • Projected EPS: $5.64
  • Projected revenue: $2.01 billion

Cramer said the company is a sale in an environment where interest rates will rise.

Wednesday: Boeing, Goal

boeing

  • First Quarter 2022 Earnings Release Before the Bell; conference call at 10:30 am ET
  • Projected loss: loss of 25 cents per share
  • Projected revenue: $16.02 billion

“We’ve all gotten used to Boeing being ugly, and I expect uglier,” Cramer said.

Goal

  • First Quarter 2022 Earnings Release After Close; conference call at 5 pm ET
  • Projected EPS: $2.56
  • Projected revenue: $28.29 billion

Cramer said he thinks Facebook’s parent company will miss the quarter and lower its forecast. “I’m keeping some dry powder to do some shopping for the Charitable Trust.” he added.

Thursday: Twitter, Amazon, Apple

Twitter

  • First Quarter 2022 Earnings Release Before the Bell; conference call at 8 am ET
  • Projected EPS: 5 cents
  • Projected revenue: $1.23 billion

Cramer said that if the social media company doesn’t announce a new feature or initiative, Elon Musk “should go full corporate raider here and go after Twitter by any means necessary.”

Amazon

  • Earnings release for the first quarter of 2022 at 4:01 pm ET; conference call at 5:30 pm ET
  • Projected EPS: $8.33
  • Projected revenue: $116.45 billion

“I think Amazon isn’t meeting resistance from any other retailer, but it’s still a high multiple stock, which means it may not be able to put on a big rally even if the quarter is spectacular,” Cramer said.

Apple

  • Second Quarter 2022 Earnings Release at 4:30 pm ET; conference call at 5 pm ET
  • Projected EPS: $1.43
  • Projected revenue: $94.11 billion

Cramer said it’s hard to expect an advantage from the iPhone maker considering the Covid shutdowns in China.

Friday: Chevron

  • First Quarter 2022 Earnings Release Before the Bell; conference call at 11 am ET
  • Projected EPS: $3.42
  • Projected revenue: $51.14 billion

“I would love to see Chevron stock go back so we can buy more [for the Charitable Trust] with an even higher dividend yield,” Cramer said.

Disclosure: Cramer’s Charitable Trust owns shares of Amazon, Apple, Boeing, Chevron, Meta, and Microsoft.

Add Comment