Skip to Main Content

Magnificent Seven: Q1 Earnings Season

Xchange NewsletterApril 22, 2024 | 2 min read
Layers of financial numbers and trends, in blue writing on a dark blue background

Editor’s note: Any and all references to time frames longer than one trading day are for purposes of market context only, and not recommendations of any holding time frame. Daily rebalancing ETFs are not meant to be held unmonitored for long periods. If you don't have the resources, time or inclination to constantly monitor and manage your positions, leveraged and inverse ETFs are not for you.

Investing in the funds involves a high degree of risk. Unlike traditional ETFs, or even other leveraged and/or inverse ETFs, these leveraged and/or inverse single-stock ETFs track the price of a single stock rather than an index, eliminating the benefits of diversification. Leveraged and inverse ETFs pursue daily leveraged investment objectives, which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying stock’s performance over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. The Funds will lose money if the underlying stock’s performance is flat, and it is possible that the Bull Fund will lose money even if the underlying stock’s performance increases, and the Bear Fund will lose money even if the underlying stock’s performance decreases, over a period longer than a single day. An investor could lose the full principal value of his or her investment in a single day. Investing in the Funds is not equivalent to investing directly in AAPL, AMZN, GOOGL, MSFT, NVDA and TSLA.

Amid a recent market downturn, tech stocks, including the "Magnificent Seven*" giants like Alphabet, Amazon, and Apple, have faced pressure. This decline follows reduced expectations for Fed rate cuts and concerns over inflation. Despite this, the Fed maintains its stance on monetary easing, potentially signaling a return to risk-on trading. Investors are weighing whether recent dips are buying opportunities or signs of larger issues.

Microsoft and Nvidia, prominent AI players, have seen significant gains, yet Nvidia's stock is down from its peak, raising questions about sustained growth. Meanwhile, Google's new language model, Gemini, has propelled its stock higher. The generative AI market is booming, with Google and Microsoft vying for dominance.

Amazon, after a surge in 2023, aims to capitalize on generative AI through AWS. Meta Platforms' strong financial standing prompts questions about future performance. Tesla, lagging behind its peers, faces challenges but may present buying opportunities due to oversold levels and growth catalysts like Robotaxis, the Full Self-Driving platform expansion.

The market anticipates answers to these questions as Q1 earnings reports approach, scrutinizing whether tech giants can justify their valuations and lead in 2024.

Here’s a list of announcement dates with related Daily Single Stock Leveraged & Inverse ETFs, week-by-week for 2024’s Q1 earnings season.

Earnings dates are subject to change without notice.

Click here for a list of earnings dates related to our Daily Leveraged & Inverse ETFs.

Q1 2024 Earnings Season - % of Each Index Reporting by Week

SS Q1 2024 Earnings Calendar

Source: Bloomberg Data Management Services. Figures represent percent of companies in each index expected to release earnings reports by week. Green shading identifies the week with the highest percentages. Index descriptions are provided at the end of the page. One cannot directly invest in an index.

Single Stock ETFs

TickerNameWeight in the IndexExpected Earnings Release
MSFT UWMicrosoft Corporation100.00%4/25/2024
TSLA UWTesla Inc. 100.00% 4/23/2024
AAPL UWApple Inc. 100.00% 5/2/2024
GOOGL UWAlphabet Inc. 100.00% 4/25/2024
AMZN UWAmazon.com, Inc. 100.00% 4/30/2024
NVDA UWNVIDIA Corporation 100.00% 5/22/2024

*Definitions and Index Descriptions

Sign Up for the Latest Insights

Provides market related news and insights geared toward active traders to help them target potential trading opportunities in Leveraged and Inverse ETFs.
Provides insights into various economic and market related events to help investors identify thematic investment opportunities in Non-Leveraged ETFs.
Highlights the top 10 Direxion Leverage & Inverse ETFs in a video that is updated every 10 trading days.
Behind the Numbers is your weekly gateway to U.S. financial market insight, trends, & compelling statistic shaping the economic terrain.
Operational Updates
Provides updates on all Direxion ETF events, including product launches, corporate actions, and distributions.