Tech giants report profits, be ready for bounces

CNBC’s Jim Cramer urged investors to use weak days like Friday to prepare portfolios for the Federal Reserve’s upcoming rate hikes — but only if they have the means to do so.

“After today’s disaster we’re probably good for another loss or two before embarking on what I think will be a weak midweek recovery,” he said.

“I would like to advise you again that you need to take a little off the table to prepare for the rate hikes to come. On days like today, you can invest a little money… but only if you have the money to start.” he later added.

The Dow Jones Industrial Average slipped 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.

All earnings and revenue estimates were provided by FactSet.

Monday: Coke

  • Release of Q1 2022 results ahead of the bell; Conference call at 8:30 a.m. ET
  • Estimated earnings per share: 58 cents
  • Estimated Revenue: $9.83 billion

“I would be a buyer on weakness because Coke has tremendous pricing power,” Cramer said.

Tuesday: Microsoft, Alphabet, Chipotle

Microsoft

  • Release of Q3 2022 results after close of trading; Conference call at 5:30 p.m. ET
  • Estimated earnings per share: $2.19
  • Estimated Revenue: $49.01 billion

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

alphabet

  • Earnings release Q1 2022 after close of trading; Conference call at 5:00 p.m. ET
  • Estimated earnings per share: $25.70
  • Estimated Revenue: $68.07 billion

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

chipotle

  • Q1 2022 results release at 4:10 p.m. ET; Conference call at 4:30 p.m. ET
  • Estimated earnings per share: $5.64
  • Estimated Revenue: $2.01 billion

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

Wednesday: Boeing, Meta

Boeing

  • Release of Q1 2022 results ahead of the bell; Conference call at 10:30 a.m. ET
  • Expected Loss: Loss of 25 cents per share
  • Estimated Revenue: $16.02 billion

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

Meta

  • Earnings release Q1 2022 after close of trading; Conference call at 5:00 p.m. ET
  • Estimated earnings per share: $2.56
  • Estimated Revenue: $28.29 billion

Cramer said he believes Facebook parent will miss the quarter and cut its guidance. “I’m keeping some powder dry to buy for the Charitable Trust.” he added.

Thursday: Twitter, Amazon, Apple

Twitter

  • Release of Q1 2022 results ahead of the bell; Conference call at 8 p.m. ET
  • Estimated earnings per share: 5 cents
  • Estimated revenue: $1.23 billion

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

Amazon

  • Q1 2022 results release at 4:01pm ET; Conference call at 5:30 p.m. ET
  • Estimated earnings per share: $8.33
  • Estimated Revenue: $116.45 billion

“I don’t think Amazon is facing resistance from any other retailer, but it’s still a high multiple stock, which means it might not have a big rally even if the quarter is spectacular,” Cramer said.

Apple

  • Q2 2022 results release at 4:30 p.m. ET; Conference call at 5:00 p.m. ET
  • Estimated earnings per share: $1.43
  • Estimated Revenue: $94.11 billion

Cramer said it was difficult to expect an uptick from the iPhone maker given the Covid shutdowns in China.

Friday: rafters

  • Release of Q1 2022 results ahead of the bell; Conference call at 11 a.m. ET
  • Estimated earnings per share: $3.42
  • Estimated Revenue: $51.14 billion

“I’d like to see Chevron stock go down 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.

https://www.cnbc.com/2022/04/22/cramers-week-ahead-tech-giants-report-earnings-be-ready-for-bounces.html Tech giants report profits, be ready for bounces

Gary B. Graves

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