A Quick Take On Big Tech's Q1 Results

Some of the biggest and most notable tech companies reported their results on Thursday. Below is a quick take on Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Amazon.com, Inc. (NASDAQ: AMZN) and Intel Corporation (NASDAQ: INTC)'s respective reports.

Alphabet: 'Clean Beat'

Nomura's Anthony DiClemente maintains a Buy rating on Alphabet's stock with a price target boosted from $925 to $985.

According to DiClemente, Alphabet's "clean beat across the board" in the quarter reaffirms his belief heading into the print that the company still boasts a strong growth profile. The analyst highlighted an acceleration in Properties driven by "robust trends" in mobile search, YouTube and Google Play.

Finally, Alphabet's free cash flow in the quarter was another notable highlight and benefited from a better-than-expected capex spend.

Amazon: Surpassed Expectations

DiClemente also commented on Amazon's results and reaffirmed a Buy rating and $975 price target on the stock.

According to DiClemente, Amazon's first-quarter revenue growth came in better than expected with notable strength coming from the North America business. Also, operating income came in ahead of expectations, but the company also guided its second-quarter operating income below expectations.

Despite a lower operating income outlook, the analyst noted that his longer-term estimates aren't much impacted.

Intel: Staying Positive

Finally, Nomura's Romit Shah maintains a Buy rating with a $40 price target.

According to Shah, Intel's first-quarter report was "lacking quality," but the company's second-quarter and full-year guidance came in ahead of consensus estimates.

Intel's commitment to reduce its long-term spending as a percentage of revenue and an incremental $10 billion to an ongoing stock buyback program are sufficient to keep the analyst positive.

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