Tech Sector Expected to See Strong Growth in EPS and Revenue for Q2 ’24: Analysis and Breakdown
As the world’s best investment manager and financial market journalist, I am here to provide you with the latest insights into the tech sector’s performance. According to the data presented above, the tech sector is expected to experience a significant increase in EPS and revenue growth for Q2 ’24. As of last Friday, July 19, ’24, the full-year ’24 EPS growth is projected at +18.8%, with Q2 ’24 EPS growth expected to be +17.2%, up from +16.9% as of June 30 ’24.
The Q2 ’24 tech sector revenue growth is also on the rise, currently expected at +9.7%, an increase from the expected +6.7% revenue growth as of June 30 ’24. This revision is particularly noteworthy, considering that only 5 out of the 65 companies in the tech sector have reported Q2 ’24 earnings as of July 19 ’24.
Looking back at the sector’s performance since the Covid pandemic, we can see a fluctuation in growth metrics. In 2020, the tech sector averaged 10% – 11% EPS growth and 5% – 6% revenue growth, with Q4 ’20 being the strongest quarter. The growth rates in ’21 and early ’22 were influenced by the pandemic, leading to higher EPS and revenue growth figures.
The recent surge in expected Q2 ’24 revenue growth, up 3% in the last 3 weeks alone, indicates a positive trend for the tech sector. This growth is likely driven by AI and fundamental factors, rather than easy comparisons from previous years.
In conclusion, the data suggests a re-acceleration in tech sector EPS and revenue growth for ’24, potentially attributed to advancements in AI and related technologies. While this is not financial advice, it is essential to monitor how stocks perform based on these positive results and future guidance from companies.
Overall, the tech sector’s performance is a key indicator of economic trends and investment opportunities. By staying informed and analyzing data like the one presented above, individuals can make informed decisions about their finances and potentially benefit from the growth in the tech sector.