Apple Inc (NASDAQ: AAPL) and Microsoft Corporation (NASDAQ: MSFT) are set to report their quarterly results next week. Ahead of earnings, Delano Saporu says both stocks are worth buying.
Why Saporu likes Apple Inc stock
Apple is down roughly 10% for the year and with $200 billion in cash on its balance sheet, Saporu dubs it a reasonable buy. Speaking with CNBC’s Kelly Evans on “The Exchange”, the CEO of New Street Advisors said:
They’re using the cash to invest. Apple TV is a big area of investment. There’s reportedly a bid for the NFL Sunday ticket, which is big for subscribers. So, I do think Apple is still a strong case here. I’m still buying and still holding it.
Dividend, buyback, and a record revenue last quarter despite supply constraints were among other reasons why he continues to be bullish on Apple Inc.
Saporu’s bull case for Microsoft Corporation
As for Microsoft Corporation, it’s the multinational’s push into cloud that interests Saporu. Another reason that he likes MSFT is sizable investment in gaming. He noted:
I think one, you’re seeing the metaverse play. But this ATVI acquisition is huge in the sense of how they’re going to use that to publish different games. That’s a big area that I’m looking at and I still Microsoft here.
Microsoft, at present, is down more than 15% year-to-date. Last month, Nuveen’s Saira Malik also said this big tech stock was on sale.
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