Markets will turn their attention to the restaurant sector after McDonald’s (MCD) earnings report in the pre-market. The firm needs to continue its heavily discounted $5 Meal Deals to drive same-store traffic growth.
After the market closes, Sprouts Farmers Market (SFM) will post Q2 results. The stock is up by 123.6% in the last year.
In the technology sector, watch the heavy-weight leaders in the artificial intelligence sector. AMD (AMD), whose shares are down ahead of the report, and Microsoft (MSFT), will set the market’s tone for the rest of the week.
On Wednesday, ARM (ARM), Meta Platforms (META), and Lam Research (LRCX) will post results. ARM trades at excessive valuations that it must raise its outlook to avoid a post-earnings sell-off. Expect Meta to post strong advertising revenue. Chinese technology firms likely spent heavily to advertise in Western markets while their domestic economy weakened.
On Thursday, Intel (INTC) and Amazon (AMZN) will post results. Last week, Intel admitted its i7/i9 13th and 14th generation chips have a stability problem that causes a blue screen of death (computer crash). However, it did not issue a recall. The firm likely over-promised on CPUs that run at record speeds. Unfortunately, customers who use chips at those speeds experience instability. They will not get a refund for the permanently damaged chips.
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