This bull market is rewarding tech stocks in high-growth areas such as mobile, storage, big data and social media. In my back testing, technology companies in high-growth areas that beat consensus estimates of analysts for earnings significantly outperform the market.
Here are three technology companies that reported earnings Thursday after the market close and crushed the estimates.
Marvell Technology (MRVL) is a fabless semiconductor company that ships over one billion integrated circuits every year primarily in the areas of mobile and storage. In the past, I have listed Marvell in Apple (AAPL) Supplier Gold Mine. In the future, Marvell has the potential to benefit from new Apple AAPL projects such as iTV.
In the after-market, after the earnings report the stock was trading higher by about 6%.
Marvell reported earnings of $0.32 vs. consensus estimate of $0.25; reported revenues of $931.2 million vs. consensus of $871 million. The company sees earnings of $0.23 – $0.27 compared to consensus of $0.23; company sees revenues of $880 – $920 million compared to consensus of $844 million.
Aruba Networks ARUN
Aruba Networks (ARUN) provides mobility application solutions and network infrastructure for the enterprise.
In the after-market, after the earnings report the stock was trading higher by about 8%.
Aruba reported earnings of $0.16 vs. consensus estimate of $0.14; reported revenues of $160.9 million vs. consensus of $154.06 million. From the conference call for the next quarter, the company sees earnings of $0.16 – $0.17 compared to consensus of $0.16; company sees revenues of $165 – $169 million compared to consensus of $166 million.
Splunk (SPLK) is a 2012 IPO in the field of big data…Read more at Forbes