VMware, Inc. provides cloud-based virtualization infrastructure software solutions in the U.S. and around the globe. Networking and storage applications are accessed from desktop computers, servers and mobile devices. The stock closed Wednesday at $119.42, up 51.7% year to date and solidly in bull market territory at 59.5% above its post-election low of $74.85 set on Nov. 14, 2016. The stock set its all-time intraday high of $127.59 on Nov. 29 and then plunged 6.4%, in line with the reversal among many tech stocks.
Analysts expect VMware to post earnings per share between $1.27 and $1.29 when it reports results after the closing bell on Nov. 30. Most analysts expect earnings to beat estimates, which have been raised recently. The company has offered solid guidance in recent quarters, and the stock has responded with an all-time intraday high of $127.59 set on Wednesday, but this could be reversing given a daily “key reversal” and a pending weekly “key reversal.” (See also: VMware Beats on Q2 Earnings and Revenues, Raises View.)
VMware stock is not cheap, with a P/E ratio of 42.99 and no dividend. Playing mojo under a “key reversal” will be tough! …read more
Read more here: VMware Faces Earnings With Weekly ‘Key Reversal’