Will These 5 Tech Giants Beat Expectations This Week?

The current earnings season is still early in the process, but investors appear to be enjoying the results. Last week, all three major indices logged their third consecutive weekly gain and continue to reach new highs.Man Measuring Money

The Dow Jones Industrial Average and S&P 500 are both at their best level in more than five years. However, some of the biggest firms on Wall Street report earnings this week.

Out of the companies that have reported financial results so far, 60.2 percent have beaten revenue estimates, according to Bespoke Investment Group. This is better than the previous two quarters and the fourth quarter of 2011. Meanwhile, 59.4 percent of companies have topped earnings estimates, inline with the previous four quarters.

Here’s a look at the biggest tech firms reporting earnings this week and their likelihood to beat expectations…

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International Business Machines (NYSE:IBM):

According to Bespoke, the company has a historical earnings beat rate of 78 percent, with a revenue beat rate of 56 percent. The average one-day percentage move of shares on earnings day is 0.39 percent higher.

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Google (NASDAQ:GOOG):

The search giant has a historical earnings beat rate of 79 percent, with a revenue beat rate of 82 percent. The average one-day percentage move of shares on earnings day is 1.3 percent higher, one of the biggest movers announcing this week.

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Apple (NASDAQ:AAPL):

The world’s largest publicly traded company has a historical beat rate of 84 percent, with a revenue beat rate of 78 percent. Apple is also a large mover on earnings day, as it averages a positive 1.76 percent move.

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3M Company (NYSE:MMM):

The Minnesota-based company has a historical earnings beat rate of 76 percent, with a revenue beat rate of 69 percent. The average one-day percentage move of shares on earnings day is a negative 0.17 percent.

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Microsoft (NASDAQ:MSFT):

The Steve Ballmer-led company has a historical beat rate of 73 percent, with a revenue beat rate of 68 percent. Microsoft’s average one-day percentage move on earnings day is a negative 0.38 percent.

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