Even Apple Inc. can’t overshadow Elon Musk.
Both Apple AAPL, -1.66% and Tesla Inc. TSLA, -3.09% are set to report earnings this week, but the car maker’s release is likely to steal the show. Musk’s history of dramatic earnings calls, coupled with a host of recent Tesla developments, make the Wednesday report the highlight of the week.
Tesla earnings: Investors should gear up for more drama
Of interest when Tesla reports will be information about Model 3 sales and production, as well as the costs incurred by the company as it ramps up production. Of course, investors will also be closely watching to see if Musk sticks to the script during the earnings call or if he puts on another bizarre show.
Apple, meanwhile, is getting ready to report its most boring quarter of the year. Usually iPhone sales are the focus of Apple’s earnings reports, but Wall Street is less interested in that metric just a few months before the next lineup comes out. This time around, pay close attention to Apple’s September-quarter outlook for indications of whether the company expects its upcoming iPhone line to factor into the period. Apple is on the schedule for Tuesday.
Outside of Apple and Tesla, expect another packed earnings week, with at least 140 S&P 500 index SPX, -0.66% components on the docket, according to a FactSet count, as well as many others that aren’t in the index.
Here are some key themes to watch.
Several cybersecurity companies are due to report in the coming week, including FireEye Inc. FEYE, -3.18% Fortinet Inc. FTNT, -4.03% and Symantec Corp. SYMC, +0.63% Their reports come on the heels of those from Check Point Software Technologies Inc. CHKP, -2.65% and Proofpoint Inc. PFPT, -7.20% which showed that there’s a high bar for companies in the industry this quarter. Investors should watch to see if the trend holds with this week’s slate.
Also noteworthy will be commentary from Symantec, which disclosed in May that its audit committee was conducting an internal investigation of claims that a former employee had made. There’s also a more recent concern that millions of LifeLock email addresses may have been accidentally exposed. The company reports results on Thursday after the bell.
Teva Pharmaceutical Industries Ltd. TEVA, -2.36% will report results Thursday as well, and investors should watch for any progress as the company attempts to transform itself. The company‘s generics business has come under pressure, and Teva faces competition for Copaxone, a multiple sclerosis drug. Look for commentary on Copaxone as well as recently launched drugs.
Before that report, Pfizer Inc. PFE, +0.66% will report on Tuesday, and has beaten expectations for four straight quarters.
Media and telecom
Charter Communications Inc. CHTR, -0.22% is set to report Tuesday, while Dish Network Corp. DISH, -0.50% will post earnings Friday. Morgan Stanley analyst Benjamin Swinburne recently reiterated his overweight rating on Charter shares, writing that the company was likely to see more merger benefits from its Time Warner Cable and Bright House acquisitions in the second half of the year. Look for commentary regarding pricing and packaging for Spectrum, and their impacts on results.
A week after Electronic Arts Inc. EA, -5.70% delivered a weaker-than-expected outlook, rivals Take-Two Interactive Software Inc. TTWO, -2.19% and Activision Blizzard Inc. ATVI, -2.95% will report earnings. They’re both on the schedule for Thursday. Watch for the continued impact of in-game spending on results, as well as company commentary concerning mobile games, esports, and the potential for game streaming.
Zynga Inc. ZNGA, -3.80% is also on the docket, due to report Wednesday after the bell.
Apple isn’t the only gadget maker on this week’s schedule. Both Fitbit Inc. FIT, -3.85% and GoPro Inc. GPRO, -7.44% will report results, on Wednesday and Thursday, respectively. With Fitbit, investors will get a glimpse of nearly a full quarter of Versa availability, and they’ll see if early momentum for the smartwatch continued throughout the period. As for GoPro, the company recently announced new records for two of its models, and management may share more about the traction of its GoPro Hero, a cheaper camera.
In addition to those names, we’ll get earnings from consumer-focused companies like Procter & Gamble Co. PG, +0.61% Kraft-Heinz Co. KHC, -0.36% and Kellogg Co. K, +0.73% There’s also KLA-Tencor Inc. KLAC, +2.22% which reports results on July 30 after peer Lam Research Corp. LRCX, +7.20% called a bottom in chip-equipment weakness. And in online travel, TripAdvisor Inc. TRIP, -4.55% will show whether it has been benefiting from the same factors that helped Expedia Group Inc. EXPE, +9.53% deliver a strong quarter Thursday, including benefits from marketing spend.