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Top Tech Stocks to Watch as Earnings Date Approaches

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The majority of tech earnings have already been released, with Nvidia leading the way with its quarterly results.

However, there are still a few attractive tech stocks set to report earnings on Thursday, August 31. Here are two top-rated tech stocks that investors should consider.

Broadcom (AVGO)

Nvidia’s strong Q2 results have made its stock appealing, and Broadcom, another semiconductor giant, is also worth watching.

Broadcom, with its Jericho3-AI chip that links supercomputers, holds a Zacks Rank #2 (Buy) and will release its fiscal Q3 report on Thursday.

Analysts expect Broadcom’s Q3 earnings to increase by 7% YoY to $10.42 per share. Sales are forecasted to be up 4% to $8.86 billion. The company has shown steady top and bottom-line growth, leading its stock to increase by 59% this year.

Momo (MOMO)

Momo, a Chinese internet and software company, is another stock to keep an eye on. It holds a Zacks Rank #2 (Buy) and will announce its Q2 results on Thursday.

Formerly known as Momo, Hello Group operates a mobile social and entertainment platform in China. The stock has gained 7% YTD and an impressive 98% over the past year.

Despite Q2 sales being projected to decrease by 9% to $423.77 million, Momo’s earnings are expected to grow by 15% compared to the prior year quarter. With an attractive forward earnings ratio of 5.5X, Momo stock appears to be undervalued.

Other Stocks to Watch

Dell Technologies (DELL) will report its Q2 earnings on Thursday, and there is optimism following Nvidia’s strong performance. Dell is partnering with Nvidia on their joint AI venture Project Helix.

For those looking for opportunities in the semiconductor industry, Zacks Investment Research recommends downloading their report on the top semiconductor stock with significant growth potential.

Interested readers can find additional information on these tech stocks and more in the Zacks Investment Research article linked here.

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