Which season do you prefer the most? Some enjoy the snowy winter with its Christmas holidays, while others would prefer the tanning summer. There are also romantic spring lovers and no less poetic fall enthusiasts. Nevertheless, if you ask a trader the same question, there's only one answer that counts – earnings season, which is currently in full swing, beating most of Wall Street’s earnings expectations.

Second-quarter earnings season began during the second full week of July, led by banking giants JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), and Citigroup (NYSE:C).

In the past month, the S&P 500 index experienced a 3% growth. Approximately half of all companies have released their second-quarter results, with a hefty 80% exceeding earnings expectations. 

SPX Chart by TradingView

Now, the spotlight is on the big tech league. AMD, Qualcomm, Amazon, and, of course, the world's most valuable company with a market capitalization of $3 trillion, Apple, are next to come.

The Wall Street consensus estimate is that Advanced Micro Devices (NASDAQ:AMD) will report revenue of $5.3 billion, with adjusted earnings per share of 57 cents for the June quarter. Analysts have estimated revenue to reach $5.8 billion and EPS is 73 cents for the current quarter.

For Qualcomm (NASDAQ:QCOM), the earnings estimate for the current quarter stands at $1.81, with a range of $1.79 to $1.88. Comparatively, the previous quarter's EPS was $2.15.

Looking ahead, Amazon (NASDAQ:AMZN) is forecasted to have earnings of $0.35, with a range of $0.25 to $0.47, and the sales forecast for the next quarter is $131.49 billion, with a range of $127.00 billion to $133.53 billion.

As for Apple (NASDAQ:AAPL), it is projected to achieve a 6.3% growth in earnings and a 5.9% growth in revenue annually, with EPS expected to grow by 8.6%.

These figures will be closely watched by investors and analysts to assess the companies' performance and potential growth prospects in the market. Nevertheless, regardless of analysts' predictions, the one and only basis for trading decisions should be your own analysis and personal knowledge.