Tech stocks have been hit hard this year, with Nasdaq-100 down more than 26% year-to-date. Take-two Interactive Software, Inc. (NASDAQ:TTWO) and Electronic Arts Inc. (NASDAQ:EA) are showing recoveries.
Take-Two Interactive is a software company that creates games through its signature labels. Just like other tech stocks, Take-Two suffered a pandemic bubble burst. Concerns of a tighter economy also hit the stock. The stock has fallen by 29% YTD, wider than the loss in the Nasdaq-100 composite. However, in five days, Take-Two has registered 16% gains. The stock bottomed at $103 and is going higher.
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Conversely, Electronic Arts is an American video games publisher. Although the stock also suffered from a pandemic bubble burst, the impact was less minimal. The stock has also overcome the policy tightening quite well. The stock has lost less than 2% YTD. The stock is up almost 9% in five days and 6% in a month.
In their quarterly results, Take-Two reported fourth quarter EPS of $0.95. The earnings were lower than $1.88 per share in the prior year, but higher than $0.62 per share estimates. Electronic Arts reported $0.80 per share earnings, an increase from $0.26 per share in the prior year. The earnings were higher than estimates of $0.63.
Take-Two and Electronic Arts technical analysis
Technically, Electronic Arts has overcome a hard macroeconomic well. The stock has maintained slow but sure gains. On the other hand, Take-Two has suffered the most but is recovering well after robust earnings-beat. We recommend EA ahead of Take-Two. EA can be bought after a retracement at or close back to $128. Take-Two may face resistance at the current level, and investors should buy lower.
Resumé
Take-Two Interactive and Electronic Arts posted earnings beat. Electronic Arts ranks ahead since it has maintained gains. The stock can be bought on a retracement.
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Source: https://invezz.com/news/2022/05/20/consider-bullish-take-two-interactive-and-electronic-arts-amid-tech-rout/