Tuesday Turnaround: Salesforce, Apple and AMD, Oh My!
TheStreet
It's been a rollercoaster of a day.

Whew, it's been a whirlwind in the markets. 

We saw the Dow dip, then recover and then shoot up 100 points. 

In case you haven't caught up, here's what you need to know about the markets as the bell closes trading for the day on Tuesday, Nov. 27.

What You Need to Know About Salesforce

Salesforce (CRM) is set to report after the bell Tuesday. 

TheStreet's tech columnist Eric Jhonsa wrote a walk-up to the earnings. 

Though its stock has bounced a bit from last week's lows, Salesforce.com is still down nearly 20% from where it traded prior to its mostly upbeat July quarter report.

That might spell a slightly lower bar for the cloud CRM software giant, which is far from alone among enterprise software names in getting hammered during the recent tech correction, when its October quarter (fiscal third-quarter) report arrives after the bell on Tuesday. On average, analysts polled by FactSet expect revenue of $3.37 billion (up 27% annually) and non-GAAP EPS of $0.50.

For the January quarter -- Salesforce provides quarterly and fiscal year sales/EPS guidance in its reports -- the consensus is for revenue of $3.52 billion (up 23%) and EPS of $0.57.

So, without further ado, here are the six things investors should look for after the company releases its report. 

  • Billings growth
  • Unearned revenue growth guidance
  • The revenue performance obligation
  • Business segment growth
  • Spending growth
  • International growth

Jhonsa breaks those topics down here.

Salesforce is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells CRM? Learn more now.

Back on Track? A Chart of AMD's Correction

TheStreet contributor Jonas Elmerraji breaks down Advanced Micro Devices's (AMD) chart. 

Tech stocks are having a rough quarter.

Since the start of the fourth quarter, the technology sector has shed about 14% of its value, leading the broad market lower as the very same stocks that fueled most of the S&P 500's gains for the last year and change suddenly became laggards.

Semiconductor stock Advanced Micro Devices (AMD - Get Report) hasn't been immune from that selling. In fact, AMD has sold off twice as hard as the rest of the tech sector, shedding 35% of its market value since the calendar flipped to October. 

Lots of eyes are on AMD right now, and for good reason. This $20 billion chipmaker has been one of the best performers in the S&P 500 in recent years, and it's been a bellwether for investors' confidence in the tech sector.

After taking a significant haircut in the last month and change, AMD's price action is starting to look interesting -- and with big implications for the rest of the tech sector. To figure out how to trade it, we're turning to the chart for a technical look.

Context remains critical when weighing the correction in the equity market this quarter. Yes, AMD is down 35% since the start of October. But that statistic only tells a tiny part of the story -- it leaves out the fact that AMD is still up 77.5% in the trailing 12 months as of this writing.

Big rallies beget big corrections. That's a normal part of the market's lifecycle.

And right now, it's looking a little premature to call AMD's uptrend dead.

Time to Buy Apple?

With all of news about the Apple (AAPL) , investors may be asking themselves what they should do about shares of the iPhone maker.

The stock is also Real Money's stock of the day.

Dirk, a viewer who wrote in a question for Jim Cramer's morning show, asked whether now is the time to buy Apple.

"I would tell Dirk that, until we get convincing downgrades -- there's still too many analysts that like it -- it's hard to form a bottom," Cramer said.

Watch Cramer's full response here. 

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