Earnings Deluge:
With a plethora of big names reporting this week, including FFIV TXN MSFT AAPL FB LRCX and SWKS, it will obviously have big market implications. One I will be keeping a close eye on is AMD which REPORTS Tuesday after the bell. The stock has somewhat stalled against the group, like NVDA, as it has gained 17% in the last quarter, compared to the SMH rising 31%. It is resting for its next leg up, or is the inability to keep up with its peers something to be concerned about? Of course it can be both, and we will not know its next big move, until it reports tomorrow afternoon. It has a history of falling after announcements, with 3 of the last 4 dropping by 4.1, 3.3 and 6% on 10/27, 4/29 and 1/29 (rose 12.5% on 7/29/20). If one is not already involved I would wait until after the numbers, as a move above 100 could propel this name much higher the rest of 2021, and a miss could offer a more attractive entry. I would not be surprised if that is the case, as the market confounds the most, and many may be accustomed to the earnings drawdown, and it may not occur this time around.