The second quarter earnings season is in full swing. Some stocks soar, while others crash. Discover 10 undervalued opportunities with upcoming earnings reports.
The earnings season is accelerating in the United States. After the July 14 announcement from big banks, including , , , and , attention is now turning to big tech. Alphabet and Tesla will report on July 22, followed by Microsoft and Meta on July 29, with Amazon and Apple scheduled for July 30.
This reporting season takes on even greater significance. According to FactSet, S&P 500 companies are expected to generate 23.6% year-over-year earnings growth, marking a second consecutive quarter of growth above 20%. Beyond the headline numbers, investors will be looking for evidence that tech giants are generating significant returns from their massive investments in AI.
With the five largest hyperscalers expected to spend around $700 billion on AI infrastructure this year, the focus has shifted from spending plans to monetization.
The macroeconomic context also adds another important dimension. This is the first earnings season since the end of the Iranian conflict, which clouded corporate prospects during first-quarter reports. Forecasts for the second half will therefore be closely monitored, especially as markets remain strongly positioned for the continuation of the AI-driven rally.
In this context, investors may benefit from looking beyond the hottest names and focusing on large-cap U.S. stocks that already combine attractive valuations with strong financial fundamentals ahead of their earnings release.
These undervalued stocks could surprise this earnings season
Using Investing.com’s stock screener, we searched for U.S. stocks that met the following criteria:
Market cap over $10 billion Earnings release by end of July Over 30% upside potential based on InvestingPro fair value Over 30% upside potential based on average analyst price target Financial health score above 2.5/5
This research identified 9 opportunities.
More specifically, these US stocks offer upside potential…
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