Three of the biggest tech companies in the world recently posted stellar earnings. While the majority of companies in the S&P 500 beat analyst estimates this past quarter, Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), and Alphabet (NASDAQ:GOOGL) have multiple growth catalysts that should continue to drive their prices higher.Q2 2021 earnings season is almost over, with 88% of the companies in the S&P 500 reporting results. So far, the data has been great. 86% have beaten expectations for earnings and 76% beating on revenue. The earnings surprise figure is the largest since FactSet started tracking in 2008. These figures support the strength in the market this year as the S&P 500 is up over 11% year to date.
While some of this growth can be attributed to last year's first quarter being hampered by the initial stages of the pandemic, much of it was driven by swift monetary and fiscal stimulus measures. But these measures won't be here forever, which means that not all companies will continue to generate this kind of growth.
That's why investors should focus on larger companies with multiple growth catalysts over the long term. When it comes to technology, I believe Facebook (FB), Apple (AAPL), and Alphabet (GOOGL) certainly fit the bill, which is why I am highlighting them below.