$2 trillion in tech stocks are reporting after the bell — here’s what to buy

FAN Editor

Thursday marks the busiest day for earnings as a number of tech titans report.

Alphabet, Amazon, Intel and Microsoft release earnings after the bell Thursday. The four companies combined represent 25 percent of the Nasdaq 100, and have a combined market cap of nearly $2 trillion — and there are two names in particular that could be on the verge of a breakout.

Rich Ross, of Evercore ISI, says that of the four, the biggest laggard this year could actually be the big winner: Intel.

“You see a decisive breakout from a frustrating sideways trading range,” the technician said, looking at a short-term chart of Intel Wednesday on CNBC’s “Trading Nation.” “Other semiconductors in the SMH ETF and the SOXX Index have soared up over 25 percent year to date, but Intel’s just starting to come into its own.”

Equally compelling, says Ross, is a longer-term chart of Intel dating to 2012, which the technician believes is displaying a “bullish ascending triangle” that he says could have the stock going up to $50. This means that Ross believes Intel could surge 22 percent.

Mark Tepper, CEO of Strategic Wealth Partners, is betting on Alphabet, thanks to the rising shift toward mobile advertising.

“Internet advertising is huge, it’s an over $75 billion a year industry just in the U.S. alone and it’s growing at 15 to 20 percent year over year,” he said on “Trading Nation.” “While traditional advertising still accounts for 59 percent of ad spending, there’s obviously this secular shift towards internet and mobile advertising.”

And that, according to Tepper, will make Alphabet a “long-term hold” for investors’ portfolios. The stock is up 25 percent year to date.

The Nasdaq 100 is up nearly 25 percent this year, thanks in part to strong earnings from big tech names.

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