Earnings week ahead: MSFT, AMZN, AAPL, META, GOOG, AMD, PFE, F, MCD, SBUX, XOM, CVX and more

As October gives way to November, the upcoming week promises a flurry of earnings reports from some of the world’s largest companies. The spotlight is firmly on the members of the Magnificent 7: Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOG), Amazon (NASDAQ:AMZN), Meta Platforms (NASDAQ:META) and Apple (NASDAQ:AAPL).

In addition to these tech titans, the week will also see reports from various sectors, including coffeehouse chain Starbucks (NASDAQ:SBUX), fast-food giant McDonald’s (NYSE:MCD), media and technology leader Comcast (NASDAQ:CMCSA), automotive manufacturer Ford (NYSE:F), and payment processors Visa (NYSE:V), Mastercard (NYSE:MA), and PayPal (NASDAQ:PYPL).

Major pharmaceutical companies Pfizer (NYSE:PFE), Amgen (NASDAQ:AMGN), AbbVie (NYSE:ABBV), Bristol Myers Squibb Company (NYSE:BMY), Eli Lilly (NYSE:LLY), and Merck (NYSE:MRK) will also release figures, along with energy giants Chevron (NYSE:CVX), ExxonMobil (NYSE:XOM), Shell (NYSE:SHEL), and BP (NYSE:BP).

Meme stocks Roblox (NYSE:RBLX), SoFi Technologies (NASDAQ:SOFI), Advanced Micro Devices (NASDAQ:AMD), and Intel (NASDAQ:INTC) will also be in the spotlight during this eventful earnings week.

Below is a rundown of major quarterly updates anticipated in the week of October 28 – November 1:

Monday, October 28

Ford Motor Company (F)

Ford Motor Company (F) is scheduled to release its Q3 earnings results after the market closes on Monday. Analysts project a Y/Y EPS increase of approximately 24%, alongside modest revenue growth of 2%.

In Q3, Ford’s total vehicle sales rose 0.7% to 504,039 units, primarily driven by a remarkable 38% surge in hybrid sales and a 12.2% increase in electric vehicle (EV) sales, which mitigated a 2.8% decline in internal combustion engine (ICE) sales. EV sales accounted for 23,509 units, supported by the F-150 Lightning and E-Transit models. Conversely, SUV sales decreased by 5.6%, and car sales fell by 8% compared to the prior year, while truck sales experienced a 6% increase.

Wall Street analysts, along with Seeking Alpha’s Quant Rating System, currently recommend holding the stock.

The Asian Investor, a Seeking Alpha contributor with a Strong Buy rating on Ford, emphasizes that a robust Q3 earnings report could catalyze a breakout, driven by successful delivery achievements and a potential EPS beat. Ford had raised its full-year free cash flow (FCF) guidance in Q2, and confirmation of this guidance is anticipated. The solid Q3 EV sales, particularly for the Lightning F-150, suggest significant earnings potential. Additionally, the contributor highlights that Ford’s Q3 EPS estimates have undergone 10 upward revisions in the last 90 days, indicating a favorable revision trend.

• Consensus EPS Estimates: $0.48
• Consensus Revenue Estimates: $41.95B
• Earnings Insight: Ford has missed EPS and revenue expectations in 4 of the past 8 quarters.

Also reporting: Waste Management (WM), ON Semiconductor (ON), Welltower (WELL), Two Harbors Investment (TWO), LTC Properties (LTC), V.F. Corporation (VFC), Leggett & Platt (LEG), Capital Southwest (CSWC), Cadence Design Systems (CDNS), Celldex Therapeutics (CLDX), Alliance Resource Partners (ARLP), Camping World Holdings (CWH), and more.

Tuesday, October 29

Alphabet (GOOG) (NASDAQ:GOOGL)

Alphabet (GOOG, GOOGL) is scheduled to release its Q3 results after the market closes on Tuesday, with analysts forecasting a solid performance, anticipating a 19% increase in earnings and a 12% rise in revenue.

Recently, Seeking Alpha’s Quant Rating system upgraded Alphabet from Hold to Strong Buy, aligning with Wall Street analysts who also maintain a Buy rating.

Ahan Vashi, Seeking Alpha’s Investing Group leader, notes that Alphabet is trading at a significant discount compared to its peers, presenting a compelling buying opportunity amid strong business momentum and a favorable outlook.

Conversely, Michael Del Monte, a Seeking Alpha contributor advocating for a Hold, notes that while Google’s cloud growth is notable, its profitability remains behind that of competitors, suggesting that improvements in data center capacity could enhance margins.

• Consensus EPS Estimates: $1.85
• Consensus Revenue Estimates: $86.24B
• Earnings Insight: Google has topped EPS and revenue expectations in 6 of the past 8 quarters.

Also reporting: Advanced Micro Devices (AMD), Pfizer (PFE), PayPal Holdings (PYPL), Visa (V), Enterprise Products Partners (EPD), BP (BP), McDonald’s (MCD), Snap (SNAP), W. P. Carey (WPC), SoFi Technologies (SOFI), American Tower (AMT), Phillips 66 (PSX), Corning (GLW), First Solar (FSLR), Chipotle Mexican Grill (CMG), Novartis (NVS), STAG Industrial (STAG), ONEOK (OKE), Qorvo (QRVO), Royal Caribbean (RCL), Electronic Arts (EA), Mondelez International (MDLZ), Stryker (SYK), JetBlue Airways (JBLU), Exelixis (EXEL), Rithm Capital (RITM), Reddit (RDDT), and more.

Wednesday, October 30

Microsoft (MSFT)

Microsoft (MSFT) is set to release its fiscal Q1 earnings after Tuesday’s close, with analysts expecting Y/Y growth in both revenue and earnings.

Wall Street analysts maintain a Strong Buy rating, though Seeking Alpha’s Quant Rating system downgraded the stock to Hold just two days ago, signalling some caution.

SA author Yuval Rotem notes that Microsoft faces investor hesitation due to rising capital expenditures, challenges related to OpenAI, margin pressures, and uncertainties around its Copilot product, which have contributed to underperformance in 2024. Despite recent tech volatility driven by AI investments, Rotem sees Microsoft’s long-term outlook as robust, citing an attractive valuation and mid-teens growth potential, and reiterates a Buy rating.

Conversely, SA author Damir Tokic adopts a bearish view, referencing a study showing over 80% of AI projects fail, with only 14% of companies prepared for adoption, raising concerns about generative AI’s potential. Given Microsoft’s $44 billion capex in AI, Tokic views the company as vulnerable at current high valuation multiples.

• Consensus EPS Estimates: $3.10
• Consensus Revenue Estimates: $64.56B
• Earnings Insight: Microsoft has outperformed EPS forecasts in straight 8 quarters and revenue in 7 of those quarters.

Meta Platforms (META)

Meta Platforms (META), Facebook’s parent company, is scheduled to report its Q3 earnings after the market closes on Wednesday, following Microsoft in the earnings lineup. Analysts expect over 18% growth in both profits and sales.

Within the elite “Magnificent 7” tech and growth stocks, Meta has been the second-best performer year-to-date, after NVIDIA.

Sell-side analysts remain optimistic, maintaining a Strong Buy rating, while Seeking Alpha’s Quant rating system holds a more cautious stance with a Hold recommendation.

SA author Millennial Dividends observes that Meta has seen a 62% stock surge YTD, propelled by improved fundamentals, AI integration, and rising user engagement. While Meta demonstrated strong Q2 performance and could reach 40–42% operating margins by 2025, its increasing capital expenditures and ongoing losses from Reality Labs present risks. The core advertising business remains solid, but the valuation appears stretched, potentially limiting forward returns. Millennial Dividends advises caution at current levels but recommends buying if the stock price dips below $500 per share.

• Consensus EPS Estimates: $5.27
• Consensus Revenue Estimates: $40.30B
• Earnings Insight: Meta has topped EPS expectations in 6 of the past 8 quarters, beating revenue estimates in all those reports.

Also reporting: AbbVie (ABBV), Starbucks (SBUX), Caterpillar (CAT), Roku (ROKU), Teladoc Health (TDOC), Twilio (TWLO), Amgen (AMGN), Coinbase Global (COIN), Omega Healthcare Investors (OHI), The Kraft Heinz Company (KHC), Ares Capital (ARCC), Etsy (ETSY), Prudential Financial (PRU), GSK plc (GSK), Biogen (BIIB), Eli Lilly (LLY), Riot Platforms (RIOT), Transocean (RIG), Lemonade, (LMND), eBay (EBAY), Agnico Eagle Mines Limited (AEM), Fiverr International (FVRR), Bausch Health (BHC), Booking Holdings (BKNG), Amarin (AMRN), Otis Worldwide (OTIS), Ventas (VTR), MGM Resorts International (MGM), The Clorox Company (CLX), EPR Properties (EPR), Automatic Data Processing (ADP), Federal Realty Investment Trust (FRT), Aflac Incorporated (AFL), Brookfield Infrastructure (BIPC), MetLife (MET), and more.

Thursday, October 31

Apple (AAPL)

California-based tech giant Apple (AAPL) is set to release its FQ4 earnings on Thursday after the market closes, with analysts expecting a year-over-year increase of around 5% in both earnings per share and revenue.

While Wall Street maintains a Buy rating on the stock, Seeking Alpha’s Quant Rating system has issued a Hold rating, citing concerns over growth and valuation.

In Q3, Apple reclaimed its position as one of the top five smartphone companies in China, largely driven by the launch of the iPhone 16, despite a slight 0.3% Y/Y decline in shipments. China’s overall smartphone market grew by 3.2%, indicating strong demand for device upgrades. Vivo led the market with an 18.6% share, followed closely by Apple at 15.6%, with Huawei, Xiaomi, and Honor also in the top five, the latter achieving five consecutive quarters of growth.

Envision Research, a Seeking Alpha Investing Group Leader, suggests a Buy rating on Apple (AAPL). The firm highlights the robust sales of the iPhone 16 in China, coupled with a record-high installed base and growing subscription revenue, as strong indicators for a strong Q4.

Additionally, Envision Research points out that Apple’s true economic earnings are significantly higher than its reported EPS due to its capital-light business model. As a result, the current valuation, based on its accounting P/E of ~35x, may be undervalued.

• Consensus EPS Estimates: $1.53
• Consensus Revenue Estimates: $94.28B
• Earnings Insight: Apple has beaten EPS estimates in 7 of the past 8 quarters, exceeding revenue expectations in 6 of those reports.

Amazon (AMZN)

E-commerce and cloud giant Amazon (AMZN), one of the most closely watched companies reporting during the week, will provide insights on its Q3 after the closing bell on Thursday.

Looking at the stock performance, Amazon shares have gained about 48% over the period of 12 months and almost 24% so far this year. While Wall Street analysts have a consensus Strong Buy rating, the Seeking Alpha Quant Ratings system maintains a Hold rating on the stock.

Noah’s Arc Capital Management believes Amazon’s (AMZN) stock price surge of 14.42% since summer is driven by robust performance in AWS and resilient consumer spending in its retail division. The firm highlights Amazon’s focus on cost-cutting through long-term optimizations, including investing in mini nuclear reactors to provide a stable, lower-cost power supply for AWS. This strategic move is expected to enhance AWS’s competitive advantage and improve profitability. Despite potential public skepticism about nuclear energy, Noah’s Arc Capital Management views Amazon’s approach as forward-thinking and believes the stock is a strong buy.

On the other hand, SA contributor Cavenagh Research has downgraded Amazon to a Hold ahead of its Q3 earnings announcement, despite expectations of meeting or exceeding estimates due to strong AWS and advertising performance. Concerns arise over potential retail margin pressures from labor costs and regulatory scrutiny, along with intensified competition for AWS, which could reduce margins in the coming years. Amazon’s stock is currently trading at about 33x EV/EBIT based on 2025 estimates, appearing high compared to other “Magnificent 7” stocks.

• Consensus EPS Estimates: $1.14
• Consensus Revenue Estimates: $157.25B
• Earnings Insight: Amazon has beaten EPS expectations in 7 of the past 8 quarters, and revenue 6 times in that time span.

Also reporting: Intel (INTC), Altria Group (MO), Merck (MRK), Bristol Myers Squibb (BMY), Mastercard (MA), Shell (SHEL), ConocoPhillips (COP), Uber Technologies (UBER), Comcast (CMCSA), The Southern Company (SO), Roblox (RBLX), Nikola (NKLA), British American Tobacco (BTI), Rio Tinto (RIO), Regeneron Pharmaceuticals (REGN), Peloton Interactive (PTON), United States Steel (X), Sirius XM Holdings (SIRI), Li Auto (LI), Norwegian Cruise Line Holdings (NCLH), TotalEnergies (TTE), and more.

Friday, November 1

Chevron (CVX) and ExxonMobil (XOM)

The busy earnings week concludes with oil giants Chevron (CVX) and ExxonMobil (XOM), both reporting Q3 earnings before the market opens on Friday. Analysts expect a Y/Y double-digit decline in profits for both the companies.

Seeking Alpha’s Quant Rating system takes a cautious stance on the stocks, assigning a Hold rating to both, while Wall Street analysts remain optimistic with Buy ratings.

White Star Research maintains a bearish outlook on Chevron (CVX) and ExxonMobil (XOM), citing concerns about their financial health and future prospects. For Chevron, the firm highlights recent free cash flow shortfalls, potential challenges in covering dividends and buybacks, and a weaker outlook for downstream margins. Additionally, the ongoing dispute over Hess’ Guyana asset is seen as a headwind for Chevron’s valuation.

For ExxonMobil, White Star Research cites the potential for continued weakness in Brent Crude Oil prices due to OPEC’s output increases and expanding non-OPEC supply. The firm also believes that Exxon’s shares are currently overvalued, with limited upside potential due to a relatively low dividend yield. As a result, White Star Research has downgraded both Chevron and ExxonMobil to Underweight, with new price targets of $140 and $120, respectively.

• Consensus EPS Estimates: XOM: $1.89; CVX: $2.43
• Consensus Revenue Estimates: XOM: $89.69B; CVX: $49.04B
• Earnings Insight: XOM has topped EPS expectations in 5 of the past 8 quarters, beating revenue estimates in 50% of those reports, whereas CVX has beaten EPS in 5 and revenue in 6 of those past 8 quarters.

Also reporting: Dominion Energy (D), MARA Holdings (MARA), Skillz (SKLZ), Digital Turbine (APPS), fuboTV (FUBO), Editas Medicine (EDIT), Cardinal Health (CAH), T. Rowe Price Group (TROW), Rocket Companies (RKT), PPL (PPL), Frontier Communications Parent (FYBR), LyondellBasell Industries (LYB), Wayfair (W), Matterport (MTTR), Navios Maritime Partners (NMM), Hertz Global Holdings (HTZ), Charter Communications (CHTR), and more.