Tuesday, July 28, 2026
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Alphabet Inc. (GOOGL), Advanced Micro Devices, Inc. (AMD) and RTX Corp. (RTX). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Ahead of Wall Street
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You can read today's AWS here >>> Mostly Quiet Ahead of Fed Decision
Today's Featured Research Reports
Alphabet’s shares have outperformed the Zacks Internet - Services industry over the past year (+67.3% vs. +58.6%). The company’s AI-led product cycle continues to support growth across Search, Cloud and subscriptions. AI features are lifting query activity and improving ad relevance, while Cloud demand is expanding across infrastructure, models and security.Â
A larger backlog improves revenue visibility, and rising adoption of Gemini broadens the company’s reach across consumers, developers and enterprises. Alphabet also retains substantial liquidity to fund infrastructure and strategic investment. These gains are offset by heavier capital needs, higher debt and near-term free cash flow strain.Â
Advertising concentration leaves results exposed to budget shifts, while potential legal remedies and intense competition could alter long-term economics. The Neutral view reflects durable AI momentum balanced by execution, spending and regulatory risk.Â
Shares of AMD have outperformed the Zacks Computer - Integrated Systems industry over the past six months (+79.7% vs. +58.4%). The company is benefiting from rising AI infrastructure deployments that lift demand for EPYC server CPUs and Instinct accelerators across cloud and enterprise customers. Data Center revenue grew 57% year over year in the first quarter of 2026, and second-quarter revenue is guided higher as supply and customer ramps broaden.Â
Helios and MI450 engagements are expanding with large customers, and management continues to target scaling the data center AI business to tens of billions in annual revenue in 2027. Strong partner base that includes AWS and Oracle is a positive.Â
Record quarterly free cash flow and ongoing repurchases add support, but competition from NVIDIA and Intel remains intense. Higher memory and component costs are expected to curb second-half PC and gaming demand and can pressure gross margin as MI450 ramps.
RTX’s shares have outperformed the Zacks Aerospace - Defense industry over the past six months (+11.2% vs. -2.3%). The company’s second-quarter 2026 earnings and revenues beat estimates. This is supported by a steady recovery in commercial aerospace, strong defense orders and a robust backlog. Rising global air traffic, higher commercial OEM and aftermarket sales and strong demand for large commercial engines should aid growth.Â
RTX’s defense business remains well-positioned, backed by strong bookings from the Pentagon and foreign allies. RTX ended the second quarter of 2026 with a backlog of $289 billion.Â
However, persistent supply-chain disruptions remain a concern. Aircraft engine availability issues may affect production and deliveries. Tariff-related uncertainty and expanded Russia-linked sanctions also pose risks to RTX’s operations. We have a Neutral rating on RTX shares.
Other noteworthy reports we are featuring today include United Rentals, Inc. (URI), Nasdaq, Inc. (NDAQ) and Ameriprise Financial, Inc. (AMP).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Featured Reports
Per the Zacks analyst, strong air travel demand and diversified revenue streams are aiding United Airlines' top-line growth. However, increased labor and fuel costs weigh on the bottom line.
Per the Zacks analyst, Roper's Application Software unit is driven by solid momentum across the Aderant, Deltek, Vertafore and CentralReach businesses. However, High operating costs remain a concern.
The Zacks analyst likes Ovintiv's well-established presence in some of North America's highest-quality oil and gas basins but is worried over its increasing costs and expenses.
Per the Zacks analyst, Genuine Parts' Industrial segment, led by Motion, is currently the company's biggest growth engine. However, persistent inflation is likely to hurt its margins.
Per the Zacks analyst, Service Corporation's expanding preneed backlog and solid sales execution likely to support steady long-term revenue growth by improving revenue visibility and conversion.
Per the Zacks analyst, Xenon's clinical studies on azetukalner for treating epilepsy and other neuro disorders are progressing well. However, the lack of other candidates in its pipeline is a woe.
Per the Zacks analyst, Wix benefits from rising e-commerce spending, strong core business momentum, and new user growth, while strategically investing in AI, Studio, and commerce solutions.
New Upgrades
Per the Zacks analyst, United Rentals benefits from record rental activity, higher fleet productivity and strong specialty demand. Also, large-project activity and customer backlogs bode well.
Per the Zacks analyst, Nasdaq is set to grow on its focus toward Market Technology and Information Services businesses, growth from index and analytics businesses, as well as exchange data products.
Per the Zacks analyst, Ameriprise's record assets under management and administration balance along with expanding AI capabilities and its strategic portfolio optimization efforts will aid revenues.
New Downgrades
Per the Zacks analyst, Diageo continues to face weak consumer demand, resulting in volume declines, unfavorable product mix and sales pressure. These challenges are weighing on earnings prospects.
Per the Zacks analyst, Hartford's rising benefits, losses and loss adjustment expenses can put margins under pressure. A debt-laden balance sheet induces a rise in interest expenses.
The Zacks analyst is worried about macroeconomic pressures, including tariffs and pricing erosion risk, weighing on Zimmer Biomet's profitability. Debt exceeding cash reserves is concerning too.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
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