Besides retailing earnings reports, Cisco (NASDAQ:CSCO), Nvidia (NASDAQ:NVDA), and Applied Materials (NASDAQ:AMAT) are scheduled to report earnings this week.

Although the pandemic forced enterprises and commercial customers to either delay orders or suspend projects, Cisco is well-positioned to meet the rising demand for digital networks for educational and business purposes. Moreover, recent acquisitions confirm that Cisco is on the path of transforming its business model towards software and services that generate high recurring revenues. With its diligent cost controls, it managed to amass significant financial firepower for more acquisitions or organic expansion.

On the same day, Wall Street expects Nvidia to report the top line of $6.34 billion that resulted in a bottom line of $1.02 per share. Nvidia's shares rose 33% year to date and 52% over the past year, making the graphic chip powerhouse one the best performers in the entire tech sector. Nine straight quarters of earnings beats have been a result of Nvidia's growth capabilities in key markets for graphics cards, particularly those used in video games. What's more, the company has taken the lead in chip productions for high-growth areas such as network data-center, autonomous driving, and artificial intelligence.

During the last earnings call in May, CEO Gary Dickerson pointed out that the company is "still in the early innings of major secular trends that will play out over the next decade". In simple words, investors need to focus on the big picture beyond this week's earnings report as the favorable conditions driving the company's growth can well last even beyond 2022. Applied Materials has been outpacing the industry's growth. Its semiconductor equipment business expanded 23% in 2020, going ahead of the broader market's 19% growth pace. Industry association SEMI estimates that semiconductor equipment sales could reach $95.3 billion this year, rising from last year's $71.1 billion. The growth trend is expected to continue in 2022 with semiconductor investments expected to exceed $100 billion.

Taiwan Semiconductor Manufacturing Limited (NYSE:TSM) announced earlier this year that it will be investing $100 billion over the next three years to boost capacity whereas the Korean giant Samsung is planning to commit $151 billion in non-memory chips until the end of the decade. These tailwinds indicate why Applied Materials is on track to enjoy growth both over the short and the long haul.

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