3 Large-Cap Stocks to Buy as Earnings Approach: MELI, TM, QCOM

Group 1: MercadoLibre (MELI) - MercadoLibre is expected to report Q3 sales of $5.25 billion, reflecting a 40% increase from $3.76 billion in the same quarter last year [2] - Q3 earnings per share (EPS) are projected to rise 57% to $11.27, compared to $7.16 a year ago [2] - The company has shown strong growth prospects with high double-digit expansion anticipated for fiscal 2024 and FY25, and it has gained over 30% this year [3] Group 2: Toyota Motor (TM) - Toyota Motor's stock is trading at less than 1X sales, with Q3 revenue expected to increase by 1% to $79.78 billion [5] - Q3 EPS is anticipated to decrease to $4.39 from $6.54 in the prior-year quarter, but the stock trades at a forward earnings multiple of 7.9X [6] - Toyota has consistently exceeded the Zacks EPS Consensus for seven consecutive quarters, with an average earnings surprise of 77.93% in the last four quarterly reports [6] Group 3: Qualcomm (QCOM) - Qualcomm is projected to report Q4 sales of $9.9 billion, representing a 14% increase, with EPS expected to rise 27% to $2.56 [7] - The company is integrating generative AI into its product lines, enhancing its growth potential [7] - Qualcomm trades at a reasonable forward earnings multiple of 15.1X, which is competitive compared to other chipmakers [7] Group 4: Overall Market Outlook - MercadoLibre, Toyota Motor, and Qualcomm are identified as large-cap stocks that could see significant movement if they meet or exceed earnings expectations [9] - These companies are considered viable long-term investments, potentially becoming more attractive in the event of a post-earnings selloff [9]