My Top 3 Dragon Stocks of 2024
๐๐๐The Dragon in the Chinese Zodiac Calendar is a Powerful, Mythical Creature. The Stars are Aligned that The Dragon will Roar to herald Good Luck, Success and Prosperity especially in the stock markets.
So far this year, the US indexes are hitting all time high led by some members of the Magnificent 7 with Nvidia setting the upward momentum.
The major themes this year are AI, Crypto and Healthcare.
Apart from Nvidia, the best AI stock is $Microsoft(MSFT)$
to be the most valuable company in the US and the world with a market capitalisation of USD 3.09 Trillion. Apple's market capitalisation is now USD 2.66 Trillion with Nvidia at USD 2.2 Trillion.
Microsoft has reach an all time high of USD 427.82 on Thursday March 14 after it announced the launch of its latest AI assistant - The Microsoft Copilot for Security.
Microsoft is up 12% year todate and in 2023 its share price has risen by 50%.
Wall Street Analysts are bullish on Microsoft with a high forecast of USD 600 and a low forecast of USD 440. The Dragon Year has been great for Microsoft.
In the Crypto sector, the best performing stock is $MicroStrategy(MSTR)$ . It is currently up 160% year todate and a whopping 575% in 2023. MicroStrategy is like a De Facto Bitcoin ETF. It has been steadily acquiring Bitcoin since 2020. Its CEO Michael Saylor believes in Bitcoin. Just last Monday, Michael Saylor posted on X formerly known as Twitter that MicroStrategy has just purchased another 12,000 Bitcoins worth USD 822 million using proceeds from convertible notes and cash. This brings MicroStrategy's total holdings to 205,000 Bitcoins which are now worth more than USD 15 billion.
MicroStrategy is a company that develops software but serves primarily as a proxy for Bitcoin.
Michael Saylor says that Bitcoin is going to "eat gold". He is also bullish on Bitcoin's halving process in April which will slow down the supply of Bitcoin, with the possible effect of higher demand leading to higher prices of Bitcoin.
MicroStrategy is certainly a Dragon stock!
When it comes to Healthcare, this year's Dragon Stock is undoubtedly $Eli Lilly(LLY)$ . Eli Lilly is up 27% year todate and a huge 126% in 2023. It has climbed to the Top 9 position in the S&P500. This is due to its best selling weight loss drugs Mounjaro and the recently approved Zepbound. While Mounjaro is approved uniquely for Type 2 diabetes but used for weight loss, FDA has recently approved Zepbound specifically for chronic weight management.
Eli Lilly is generating double digit revenue growth into billions of dollars. According to World Health Organisation, Obesity is the 5th leading risk for deaths globally. This market is huge. Eli Lilly has a wide moat next to $Novo-Nordisk A/S(NVO)$ drug Wegovy to capitalise on this fast growing market. Eli Lilly is my Top Pick in the Health sector as a Dragon stock.
Microsoft, MicroStrategy and Eli Lilly are my Top Picks for Dragon stocks this year. May The God of Fortune continue to smile on the markets so that all my Dear Tiger Friends be rewarded with great Success and Prosperity this Dragon Year.
@MillionaireTiger @TigerStars @Tiger_comments @Daily_Discussion @CaptainTiger @TigerClub @Tiger_SG
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Apple and Miscosoft is the strong company.