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Nasdaq Price Forecast: Index Awaits More Tech Earnings, Tesla Next


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Jul 20, 2022 | DailyFX
Richard Snow, Analyst

NASDAQ (US TECH 100) EARNINGS AND ANALYSIS

  • Nasdaq pushes higher after “less-bad” Netflix results
  • Nasdaq approaches key resistance ahead of tech heavy earnings still to come
  • Tesla Q2 earnings expected after market close – Revenue $17.28 bn (exp)

Nasdaq Price Forecast: Index Awaits More Tech Earnings, Tesla Next | IQ Stock  Market

NASDAQ PUSHES HIGHER AFTER "LESS-BAD RESULTS"

The tech index continued its short-term ascent after streaming heavyweight Netflix confirmed nearly one million lost subscribers and the second month in a row where it witnessed negative net-subscriber growth.

Nasdaq Price Forecast: Index Awaits More Tech Earnings, Tesla Next

Source: Netflix, WSJ

TESLA EARNINGS DUE AFTER MARKET CLOSE TODAY

Tesla will report Q2 earnings after the US market close today and is hoping to put an end to selling pressure that has dominated most of 2022. The car maker mentioned earlier this year that it will need to trim its salary bill and floated the idea that it could reduce its prices due to surging inflation – a move that if implemented could squeezing profit margins.

However, analysts appear optimistic on the stock 25 buy readings, 10 sells and 9 holds.

Nasdaq Price Forecast: Index Awaits More Tech Earnings, Tesla Next

Source: Refinitiv

TESLA Q2 EARNINGS FORECAST:

Revenue - $17.28 billion vs $11.96 billion (Q2 2021)

Earnings per share (EPS) - $1.86 vs $1.45 (Q2 2021)

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