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Aerospace Sector Will Lead Earnings Season: Analyst

Airplane Takeoff
Airplane Takeoff

With earnings season kicking off after the bell Monday, Charles Rotblut, senior market analyst at Zacks.com, told "Power Lunch" that the aerospace sector will perform well.

"Boeing is doing very well," Rotblut said of the aerospace and defense corporation, as it had a successful launch of its new 787 Dreamliner jet over the weekend and currently has "close to" 700 airplane orders.

Rotblut also expects strong growth for airplane components makers, such as Precision Castparts .

He added that high air travel internationally and high defense spending by the United States each provide a "really good catalyst for a lot of companies within the aerospace sector."

As for areas that he expects will post weak earnings, Rotblut named the semiconductor sector and areas exposed to the housing weakness.

He said Micron Technology , a producer of semiconductor devices, reported a 30% to 35% decrease in flash memory prices due to pricing pressure.

He also expects that Advanced Micro Devices will post losses this year.