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Unearthed Tech Gems: Top Stocks to Consider Post-Earnings Amidst Strong Industry Momentum

Tech Titans Make Noise

In a whirlwind of earnings reports this week, tech behemoths Alphabet GOOGL, Microsoft MSFT, Apple (AAPL), Amazon AMZN, and Meta Platforms META drew investor focus. The anticipation mounts as Apple, Amazon, and Meta Platforms gear up to report after the closing bell today.

Beyond these tech titans, other companies have displayed promising prowess following robust quarterly performances, making them noteworthy candidates for savvy investors.

Celestica: Lightning Strikes

Celestica, a renowned electronics manufacturing services giant, delivered a stellar show with fourth-quarter results that outshone expectations. Notably, fourth-quarter earnings surged to $0.76 per share, marking a 35% leap from the prior year.

More importantly, Celestica wrapped up fiscal 2023 with record sales and earnings, coupled with a soaring stock value – up a staggering +165% over the past year whilst maintaining an attractive 11.8x forward earnings multiple.

Super Micro Computer: A Skyward Ascent

Super Micro Computer’s robust growth continued to turn heads following its fiscal second-quarter results, flaunting impressive numbers that attest to its ascendency. The company posted Q2 earnings of $5.59 per share, surging a remarkable 71% from the previous-year quarter.

Further underscoring its strength, Q2 sales soared 103% from the prior year, underpinned by its cutting-edge AI computer platforms and total IT solutions. Super Micro’s remarkable rise of +620% over the past year has trumped even Nvidia’s NVDA +198% surge, cementing its position as a standout performer.

Woodward: Fueling Momentum

Woodward, a purveyor of energy control and optimization solutions, also joined the ranks of impressive performers with its first-quarter results. The company eclipsed expectations with an EPS of $1.45 per share, reflecting a formidable 124% surge from the comparative quarter.

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Moreover, Woodward’s top-line growth and margin expansion were fueled by robust end-market demand, propelling its stock to a commendable +32% surge over the last year. With a raise in key financial guidance for fiscal 2024, the company’s increasing business operations in China augur further potential upside.

Finding the Hidden Gems

Amidst the current landscape, the Zacks Rank #1 (Strong Buy) stocks of Celestica, Super Micro Computer, and Woodward shine brightly, benefitting from strong industry-wide momentum and poised for further prosperity following their outstanding quarterly results.