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Earnings Season Preview: AI’s Q2 Forecasts for Tesla, JPMorgan, Apple and Other Giants

New earnings season: stock market predictions & earnings estimates

This week marks the start of the Q2 earnings season. Investors are gearing up for greater uncertainty than they have experienced in recent times. The market is forward-looking, always searching for the best earnings estimates, and analysts project slower earnings growth than we have seen in the last two years, potentially weakening the battered stock market further.

By comparison with the stellar profitability increases of the previous two years, the last earnings season was a mixed bag. Many companies beat analyst expectations by a reasonable margin, only to be dragged down by negative guidance revisions. In this environment, many investors have had a difficult time interpreting the headline earnings numbers that companies report and their impact on share price lately.

Other concerns on investors’ minds now are topics that tend be on the front pages of most newspapers. Inflation is at a 40-year high, recession risk is rising and interest rates are bound to go up. Nor have the worries about a tight labor market and continuing supply chain issues abated. The good news is that some of these concerns are mutually exclusive: e.g., it is hard to reconcile recession concerns with continuing strong jobs reports. The bad news is that the Fed has to walk an increasingly narrow path to bring back the Goldilocks economy of yesteryear.

Next week’s stock forecasts

As always, most of the companies reporting in the first week of the season are financial institutions.

Financial institutions

JPMorgan Chase & Co (JPM): $3.08 Proximilar’s AI EPS estimate vs. $2.94 consensus stock forecast
Citigroup Inc (C): $1.89 our prediction vs. $1.70 consensus EPS estimate
Morgan Stanley (MS): $1.76 our estimate vs. $1.57 consensus EPS estimate
Wells Fargo & Co (WFC): $0.97 our estimate vs. $0.89 consensus EPS estimate
PNC Financial Services Group Inc (PNC): $3.34 our estimate vs. $3.15 consensus
Blackrock Inc (BLK): $8.92 our estimate vs. $8.43 consensus
US Bancorp (USB): $1.11 our estimate vs. $1.06 consensus
Bank Of New York Mellon Corp (BK): $1.18 our estimate vs. $1.13 consensus
State Street Corp (STT): $1.88 our estimate vs. $1.76 consensus
Progressive Corp (PGR): $0.99 our estimate vs. $0.93 consensus

Others

PepsiCo Inc (PEP): $1.83 our EPS forecast vs. $1.74 consensus EPS estimate
Unitedhealth Group Inc (UNH): $5.47 our forecast vs. $5.21 consensus EPS estimate
Delta Air Lines Inc (DAL): $1.77 our estimate vs. $1.67 consensus
Conagra Brands Inc (CAG): $0.65 our estimate vs. $0.63 consensus
Angiodynamics Inc (ANGO): $0.02 our estimate vs. $0.01 consensus
Greenbrier Companies Inc (GBX): $0.65 our estimate vs. $0.52 consensus
Cintas Corp (CTAS): $2.85 our estimate vs. $2.69 consensus

Looking beyond this week

The weeks of July 18 and 25 will be far more busy than the season’s first week. Tech names will figure prominently in the news, as will the Consumer and Healthcare sectors. Here a quick look at the most important highlights:

Technology and Communications

Apple Inc (AAPL): $1.23 our AI EPS estimate vs. $1.16 consensus EPS prediction
Tesla Inc (TSLA): $2.32 our prediction vs. $1.89 consensus EPS estimate
Amazon.com Inc (AMZN): $0.18 our AI forecast vs. $0.17 consensus EPS estimate
Advanced Micro Devices Inc (AMD): $1.14 our forecast vs. $1.03 consensus EPS estimate
Alphabet Inc (GOOGL): $27.20 our prediction vs. $25.63 consensus
Microsoft Corp (MSFT): $2.44 our estimate vs. $2.30 consensus
Intel Corp (INTC): $0.82 our estimate vs. $0.70 consensus
International Business Machines (IBM): $2.39 our estimate vs. $2.26 consensus
Qualcomm Inc (QCOM): $3.06 our estimate vs. $2.89 consensus
Twitter Inc (TWTR): $0.18 our estimate vs. $0.15 consensus
Texas Instruments Inc (TXN): $2.25 our estimate vs. $2.12 consensus
Verizon Communications Inc (VZ): $1.37 our estimate vs. $1.34 consensus
AT&T Inc (T): $0.65 our estimate vs. $0.62 consensus
Snap Inc (SNAP): -$0.01 our estimate vs. -$0.02 consensus
Pinterest Inc (PINS): $0.21 our estimate vs. $0.18 consensus
ServiceNow Inc (NOW): $1.78 our estimate vs. $1.55 consensus

Health care

Johnson & Johnson (JNJ): $2.69 our estimate vs. $2.55 consensus
Abbvie Inc (ABBV): $3.47 our estimate vs. $3.41 consensus
Pfizer Inc (PFE): $1.83 our estimate vs. $1.73 consensus
Merck & Co Inc (MRK): $1.93 our estimate vs. $1.68 consensus
Biogen Inc (BIIB): $4.36 our estimate vs. $4.12 consensus
Abbott Laboratories (ABT): $1.26 our estimate vs. $1.12 consensus
Bristol Myers Squibb Co (BMY): $1.95 our estimate vs. $1.84 consensus
Gilead Sciences Inc (GILD): $1.62 our estimate vs. $1.52 consensus

Financial institutions

Bank Of America Corp (BAC): $0.82 our estimate vs. $0.77 consensus
Mastercard Inc (MA): $2.54 our estimate vs. $2.35 consensus
Visa Inc (V): $1.84 our estimate vs. $1.75 consensus
Goldman Sachs Group Inc (GS): $7.70 our estimate vs. $6.77 consensus

Consumer (Cyclical and Defensive)

Netflix Inc (NFLX): $3.19 our estimate vs. $2.98 consensus
McDonalds Corp (MCD): $2.54 our estimate vs. $2.46 consensus
Coca-Cola Co (KO): $0.71 our estimate vs. $0.67 consensus
Ford Motor Co (F): $0.46 our estimate vs. $0.44 consensus
Procter & Gamble Co (PG): $1.29 our estimate vs. $1.24 consensus
Archer-Daniels-Midland Co (ADM): $1.88 our estimate vs. $1.71 consensus
Comcast Corp (CMCSA): $0.98 our estimate vs. $0.92 consensus

Others

Exxon Mobil Corp (XOM): $3.75 our estimate vs. $3.52 consensus
Boeing Co (BA): -$0.21 our estimate vs. -$0.07 consensus
Chevron Corp (CVX): $4.96 our estimate vs. $4.88 consensus

We cannot cover all of the upcoming releases in this brief summary. For a fuller picture, including EPS estimates, revenue forecasts, stocks’ reactions to announcements, and more, visit stocks.proximilar.com. Proximilar is proud to provide the world’s most detailed and accurate earnings and revenues forecasts.

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