2024-04-23 09:00:00 ET
Summary
- Six major companies, including Tesla, Meta Platforms, Alphabet, and Microsoft, are scheduled to report their Q1 2024 earnings in the upcoming weeks.
- Tensions between Israel and Iran remain unstable, potentially impacting oil prices.
- I plan to add NEOS Nasdaq-100 High Income ETF (QQQI) due to its potential for income generation and capital appreciation.
What a week it's been. We're heading into the biggest two weeks of earnings season as six of the Magnificent Seven are scheduled to report. Tesla (TSLA), Meta Platforms (META), Alphabet (GOOGL), and Microsoft ( MSFT ) will deliver their Q1 2024 earnings this week, while Apple ( AAPL ) and Amazon ( AMZN ) will report the following week. The market has been choppy as CPI came in hotter than expected, and Fed Chair Powell started to tone down the expectations of rate cuts and is discussing being data-dependent again. Tensions between Israel and Iran continue to be unstable as both sides have taken a shot at each other. The oil markets seem to have calmed down as Brent fell back below $90, but if the situation escalates, $100 per barrel could become a reality. Netflix ( NFLX ) fell -9.09% after earnings as it decided to no longer report subscriber numbers starting in Q1 2025, while Nvidia ( NVDA ) -10% on Friday to lead the markets lower. The Invesco QQQ ETF ( QQQ ) closed the week, falling -5.96% , while the SPDR S&P 500 Trust ( SPY ) shed -3.79% . I think the market overreacted to the commentary regarding NFLX, as their Q1 2024 earnings were strong, and I believe big tech minus TSLA will likely shine this earnings season. This is why I am adding to my position in the NEOS Nasdaq-100 High Income ETF (QQQI), as it followed the market lower this week, with shares declining by -5.39%. I am a big fan of the products that NEOS has launched and feel this is an opportunity to add some additional income with QQQI. While QQQI is a newer product with just $110.13 million in assets under management ((AUM)) and two declared distributions, the Neos S&P 500 High Income ETF ( SPY I) has provided a blueprint of what to expect after exceeding $1 billion in AUM and a double-digit yield over the trailing twelve months ((TTM))....
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QQQI: I Am Buying The Dip Headed Into Tech Earnings Yielding 14.28%