Previews of the Key Earnings Reports This Week

Third quarter earnings season is off to a good start, but another group of key earnings reports come out this week. Mad Money host Jim Cramer is calling it the “big kahuna” week for earnings.

 

Here is a quick preview of key earnings reports this week:

 

Apple

Apple [[AAPL]] will garner lots of attention when they company reports earnings Monday afternoon. While Gene Munster may be expecting an earnings disappointment from Apple, the rest of us are looking for another blowout quarter. AAPL shares have soared above $300 in recent days and many investors are looking for indication that the ever popular iPhone will be going to Verizon [[VZ]]. Cramer has a $325 price target for Apple, but that seems very light considering the stock trades at only 18x next year’s earnings.

 

Cirrus Logic

Another indication of Apple’s future performance will come on Thursday from Cirrus Logic [[CRUS]]. CRUS is a major supplier for Apple and should indicate if they are worried about losing business.

 

IBM

IBM’s [[IBM]] stock may be headed to $200 per share, but investors should be paying attention as to whether or not companies are starting to increase their IT spending.  

 

Yahoo

Ordinarily Yahoo [[YHOO]] would not garner much attention this week, but with takeover rumors circulating investors will be interested in management’s response.  

 

Chipotle Mexican Grill

Cramer believes that Chipotle [[CMG]] is the “best restaurant growth story out there”. The restaurant stock reports earnings on Thursday and should discuss the growing trend towards healthy eating. Cramer speculated that if CMG reports same store sales (sss) growth of 10%, the stock could break $200.

 

Schlumberger

Finally, Schlumberger [[SLB]] should provide investors with a good snapshot of the oil industry when they report earnings on Friday.

 

At the time of this publication, the author owned shares of Apple.

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