Consider bullish Take-Two Interactive and Electronic Arts amid tech rout?

Tech stocks have been hit hard this year, with Nasdaq-100 down more than 26% year-to-date. Take-two Interactive Software, Inc. (NASDAQ:TTWO) and Electronic Arts Inc. (NASDAQ:EA) are showing recoveries.

Take-Two Interactive is a software company that creates games through its signature labels. Just like other tech stocks, Take-Two suffered a pandemic bubble burst. Concerns of a tighter economy also hit the stock. The stock has fallen by 29% YTD, wider than the loss in the Nasdaq-100 composite. However, in five days, Take-Two has registered 16% gains. The stock bottomed at $103 and is going higher.

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Conversely, Electronic Arts is an American video games publisher. Although the stock also suffered from a pandemic bubble burst, the impact was less minimal. The stock has also overcome the policy tightening quite well. The stock has lost less than 2% YTD. The stock is up almost 9% in five days and 6% in a month.

In their quarterly results, Take-Two reported fourth quarter EPS of $0.95. The earnings were lower than $1.88 per share in the prior year, but higher than $0.62 per share estimates. Electronic Arts reported $0.80 per share earnings, an increase from $0.26 per share in the prior year. The earnings were higher than estimates of $0.63.

Take-Two and Electronic Arts technical analysis

Technically, Electronic Arts has overcome a hard macroeconomic well. The stock has maintained slow but sure gains. On the other hand, Take-Two has suffered the most but is recovering well after robust earnings-beat. We recommend EA ahead of Take-Two. EA can be bought after a retracement at or close back to $128. Take-Two may face resistance at the current level, and investors should buy lower.

Summary

Take-Two Interactive and Electronic Arts posted earnings beat. Electronic Arts ranks ahead since it has maintained gains. The stock can be bought on a retracement.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

1. Etoro, trusted by over 13m users worldwide. Register here >
2. Capital.com, simple, easy to use and regulated. Register here >

*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.