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A guide to tech earnings this quarter

Walter Price, senior portfolio manager with Allianz Global Investors, said on Tuesday that software and hardware companies are struggling to grow in the current tech environment.

"The big theme in technology is enterprises adopting cloud, and therefore a lot of companies aren't buying hardware anymore," he said in an interview on CNBC's "Squawk on the Street."

"I think they are reluctant to renew some of their legacy licenses and software ... [but] the cloud companies are going to accelerate their growth."

Apple

An Apple store in New York.
Mike Segar | Reuters
An Apple store in New York.

Price believes that Apple is still "really inexpensive" and that the prospects are good for earnings, which are to be reported Tuesday after the closing bell. "We think they are going to be their usual conservative self but prospects are also good for the next quarter so we think it [stock] could grind higher," he said.

Angelo Zino, S&P Capital IQ tech analyst, expects the company will report 52 million iPhones sold in the second quarter, which is higher than most estimates.

Read MoreApple earnings: Can it weather the China storm?

"The momentum continues for the larger screen phones," he said in an interview with CNBC's "Squawk Alley" on Tuesday. Zino also attributed his estimate to the company's increasing market share in China, saying, "Apple has pushed the right buttons when it comes to China."

He expects that the major thing investors will be looking at is the company's guidance heading into the September quarter. "I can't see it [the stock] exploding to the upside in the near term, given the uncertainty going into the December quarter," he said.

Microsoft

Price said he is moving into cloud-related companies such as Microsoft and Amazon. He said that Microsoft stock hasn't gone anywhere because of "Windows 10 and the accounting associated with it."

However, he said that if the company can persuade investors to focus on the underlying growth of its cloud business and cash flow, the stock could get a boost.

Read MoreIgnore Microsoft earnings and buy the stock, analysts say

Price said he is "generally pleased" with the performance of Microsoft CEO Satya Nadella. "We think he's made some hard decisions in the phone business and he's continuing to refocus the company on the cloud."

Microsoft is also set to report second-quarter earnings later on Tuesday.

Facebook

Price said he is impressed with Facebook's ads on Instagram and its adoption of video. The company is a core holding in his tech portfolio.

"I think Facebook is continuing to innovate and we think the metrics are very healthy right now," he said.

Disclosures: Neither Angelo Zino nor S&P Capital IQ owns shares of Apple.