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The Week Ahead: Reports From Apple, Facebook, Starbucks

The earnings drive continues with Coca-Cola, BP, GE, and major oil firms. Plus, October's jobs report.

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Jeremy Glaser: It's a busy week for both data and earnings. Apple's last quarter was marked by double-digit revenue growth as iPhone users traded up to higher priced iPhone Xs. The premium pricing of the recently released XS and XS Max leads Abhinav Davuluri to believe the firm is happy with its current strategy. He expects relatively constant unit sales over time, but for average selling prices to keep going up. He sees shares as slightly overvalued heading into earnings.

Facebook had mixed results in the second quarter with the social network providing disappointing margin guidance. Ali Mogharabi is confident though that the firm will be able to successfully roll out new products and monetize users over time. He thinks the market is too pessimistic today.

Starbucks is trading in 4-star territory ahead of earnings. R.J. Hottovy describes the company as a compelling consumer growth story as it pursues news avenues of growth and evolves into a retail and consumer packaged goods platform.

Oil majors BP, Chevron, and Exxon Mobil are on tap. All three are trading below their fair value estimates as energy stocks have been hit hard during the recent market volatility.

Other earnings include Coca-Cola, GE, Mastercard, and CBS.

October's jobs report is due Friday. Hurricane Michael may have an impact on the numbers, but expectations are still that hiring has remained strong. Consumption data, auto sales, the ISM manufacturing gauge, and the Case-Shiller home price index are also on tap.

Stay tuned for our take on these stories.

Jeremy Glaser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.