Dell Technologies’ quarter two earnings are due this Thursday. The prediction is $25.51 billion in revenue and $2.03 earnings per share.
Dell benefited from the high demand for PCs from home-based students and working remotely during the pandemic lockdowns. However, on the other hand, corporate sales dropped due to the recession triggered by the pandemic. The CEO is targeting selling more subscription-based computer services rather than the once-off hardware sales.
Dell’s shares have surged by 36% for the year; the stock traded at $98.50 on Friday.
Electronics and tech retailer, Best Buy, is expected to release quarter two earnings this Tuesday. Profits is expected to be around $11.49 billion and revenues $1.89 per share.
The focus is on the sustainability of the high demand trends due to the Covid-19 pandemic. Best Buy closed at $112.63 on Friday; the company lost 2% in share price over the last quarter.
Third on the watchlist is Salesforce.com, who is reporting its quarterly earnings this Wednesday. Salesforce sells cloud-based services to corporates. The expectation is a $6.24 billion revenue and $0.92 profits per share. The company was optimistic about its forecast, implying that its annual profit will beat analysts’ expectations.
The company has acquired Tableau in 2019 and MuleSoft in 2018, for which its growth is attributed. Another acquisition that will fuel their sales is Slack Technologies, which they are in the process of buying for $27.7 billion. Salesforce stocks gained 16% in the last quarter and closed at $256.13 per share on Friday.
Fed Chair Powell speech in focus this week
The upcoming Jackson Hole Economic Policy Symposium, an annual event, will be carefully followed as the Fed’s chair speech is a high point of the event. In the past, Fed chairs would use the symposium for important announcements. There’s also three US companies’ earnings report due this week.
This week’s focus will be on the Fed’s latest monetary policy changes. There’s a rumour that the central bank will start pulling back on their asset purchases targeted at $120 billion a month. The US has posted good jobs reports, unemployment rate dropped slightly, and the USD made highs this week. Although retail sales have declined in July, the feeling is optimism of signs that despite the Delta virus threat, the economy seems to be recovering slowly.