US stock markets will face the earnings reports spree this week when around 150 companies will reveal their earnings report. While most of the investors are experts are looking for earnings from major tech companies like Facebook, Bob Iaccino, chief market strategist at Tethys Partners, has his lens fixed where most of the investors are not looking: International Business Machines Corp. (NYSE:IBM). Iaccino says that IBM will be the first company that is going to reveal its earnings report and it will move the market. In a program on CNBC, Iaccino was asked to name just one company which he thinks could move the investors and experts. Iaccino came up with International Business Machines Corp. (NYSE:IBM).
Iaccino thinks that strong dollar is affecting US earnings, but he also said that the dollar rally is now depleting across the market. He said that International Business Machines Corp. (NYSE:IBM) is going to decide the company. He is hopeful that Enterprise giant has managed the dollar rally and the company could beat the expectations.
Facebook and Google are also going to announce their earnings this week. The source said that investors must not move out of the market based on just one quarterly earnings. Iaccino thinks that if the earnings of most of the companies go bad, people will start looking for Q3 earnings. He thinks that now is the time to be in the market instead of selling the tech stocks. International Business Machines Corp. (NYSE:IBM) is expected to report an increase in its Cloud revenue and investors are bullish that International Business Machines Corp. (NYSE:IBM) will sustain its market curve in the coming months.
Warren Buffett’s Berkshire Hathaway hold around 70 million International Business Machines Corp. (NYSE:IBM) shares.
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