$NVIDIA Corp(NVDA)$ $Alphabet(GOOGL)$ $Apple(AAPL)$ $Tesla Motors(TSLA)$ $Advanced Micro Devices(AMD)$
🚀 Barclays' Bold Move: S&P 500 Target Raised to 5,600! 🚀
Kia ora Tiger traders,
Barclays has just turned up the heat, lifting its 2024 target for the S&P 500 to a sizzling 5,600 from 5,300! Why the optimism? It's all about strong profit growth from our favourite mega-cap tech titans. Here are the top 10 most traded stocks by volume that could ride this wave:
1. NVIDIA (NVDA): Poised to benefit from the AI boom, Nvidia’s strong position in the tech sector makes it a prime candidate for growth, reflecting Barclays’ optimism.
2. Tesla (TSLA): Despite recent volatility, Tesla’s innovative edge keeps it in the spotlight. A Fed rate cut could lower borrowing costs, supporting further expansion and investment in new technologies.
3. Apple (AAPL): A heavyweight in the Magnificent 7, Apple’s solid fundamentals and innovation pipeline make it a key beneficiary of positive market sentiment and potential economic stability.
4. Alphabet (GOOGL): Alphabet’s strong market position and continuous growth in ad revenues align well with Barclays’ optimistic forecast for tech profits.
5. Advanced Micro Devices (AMD): As a leading chipmaker, AMD stands to gain from increased demand in AI and computing, bolstered by Barclays’ forecast of strong tech earnings.
6. Amazon (AMZN): With its vast e-commerce and cloud computing empire, Amazon is set to thrive in an environment of strong tech sector growth and economic resilience.
7. Ford (F): While not a tech company, Ford’s shift towards electric vehicles aligns with broader tech trends, potentially benefiting from the same market optimism.
8. AT&T (T): Increased positivity in the tech sector can lift associated services like telecommunications, where AT&T plays a significant role.
9. Palantir Technologies (PLTR): As a data analytics firm, Palantir could see increased demand for its services in a thriving tech environment, driven by AI and big data trends.
10. Microsoft (MSFT): Another giant in the Magnificent 7, Microsoft’s diversified portfolio and strong cloud business make it a key player likely to benefit from the positive tech outlook.
Fun Fact: The S&P 500 closed at a record high of 5,564.41 points on Monday, marking a 16.6% rise so far this year, driven by AI fervor and potential Fed rate cuts.
Analysts Quote: “While our valuation assumption for Big Tech is high, growth-adjusted multiples are reasonable, and we expect the group to earn into its valuations,” Barclays strategists noted.
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Happy trading ahead! Cheers, BC 🍀
Sources:
• TradingView, Stock Analysis, WallStreetZen, MarketBeat.
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NVIDIA Corp (NVDA)
Business and Industry: NVIDIA is a leading technology company that specializes in designing and manufacturing graphics processing units (GPUs) for gaming, professional visualization, data centers, and automotive markets. The company's GPUs are widely used in AI applications, making it well-positioned to benefit from the AI boom.
Latest Earnings: In Q2 2024, NVIDIA reported an EPS of $0.60, a return on equity (ROE) of 129.23%, and a gross profit margin of 78.35%. The company's strong financial performance reflects its solid position in the tech sector.
Earnings Forecast: Barclays forecasts that NVIDIA's EPS will reach $2.72 in 2025 and $3.74 in 2026. The forecasted gross income for 2025 is $120.74 billion, and the forecasted EBIT is $79.51 billion.
Capital Flow Analysis: Over the past 5 days, NVIDIA has experienced mixed capital flow, with both inflows and outflows. On July 23, the support price was $84.01, and the resistance price was $124.31.
Valuation Analysis: Analysts have a positive outlook on NVIDIA, with a mean target price of $135.53. Among the analysts, 36 recommend buying the stock.
Alphabet (GOOGL)
Business and Industry: Alphabet is the parent company of Google and is involved in various technology-related businesses, including online advertising, cloud computing, hardware, and software development. The company's strong market position and continuous growth in ad revenues align well with Barclays' optimistic forecast for tech profits.
Latest Earnings: In Q2 2024, Alphabet reported an EPS of $1.91, an ROE of 32.26%, and a gross profit margin of 57.92%. The company's solid financial performance reflects its strong fundamentals.
Earnings Forecast: Barclays forecasts that Alphabet's EPS will reach $8.66 in 2025 and $9.96 in 2026. The forecasted gross income for 2025 is $385.99 billion, and the forecasted EBIT is $124.10 billion.
Capital Flow Analysis: Over the past 5 days, Alphabet has experienced mixed capital flow, with both inflows and outflows. On July 23, the support price was $176.67, and the resistance price was $181.97.
Valuation Analysis: Analysts have a positive outlook on Alphabet, with a mean target price of $199.37. Among the analysts, 30 recommend buying the stock.
Apple (AAPL)
Business and Industry: Apple is a leading technology company that designs, manufactures, and sells consumer electronics, software, and online services. The company's solid fundamentals and innovation pipeline make it a key beneficiary of positive market sentiment and potential economic stability.
Latest Earnings: In Q2 2024, Apple reported an EPS of $1.53, an ROE of 127.51%, and a gross profit margin of 46.58%. The company's strong financial performance reflects its solid position in the market.
Earnings Forecast: Barclays forecasts that Apple's EPS will reach $7.32 in 2025 and $8.16 in 2026. The forecasted gross income for 2025 is $416.92 billion, and the forecasted EBIT is $130.85 billion.
Capital Flow Analysis: Over the past 5 days, Apple has experienced mixed capital flow, with both inflows and outflows. On July 23, the support price was $211.67, and the resistance price was $226.67.
Valuation Analysis: Analysts have a positive outlook on Apple, with a mean target price of $223.02. Among the analysts, 21 recommend buying the stock.
Tesla Motors (TSLA)
Business and Industry: Tesla is a leading electric vehicle and clean energy company. The company's innovative edge and focus on sustainable transportation keep it in the spotlight. A potential Fed rate cut could lower borrowing costs, supporting further expansion and investment in new technologies.
Latest Earnings: In Q2 2024, Tesla reported an EPS of $0.46, an ROE of 9.04%, and a gross profit margin of 17.95%. The company's financial performance reflects its growth potential in the electric vehicle market.
Earnings Forecast: Barclays forecasts that Tesla's EPS will reach $3.25 in 2025 and $4.07 in 2026. The forecasted gross income for 2025 is $115.91 billion, and the forecasted EBIT is $11.35 billion.
Capital Flow Analysis: Over the past 5 days, Tesla has experienced mixed capital flow, with both inflows and outflows. On July 23, the support price was $184.80, and the resistance price was $251.80.
Valuation Analysis: Analysts have a mixed outlook on Tesla, with a mean target price of $200.97. Among the analysts, 14 recommend buying the stock.
Advanced Micro Devices (AMD)
Business and Industry: Advanced Micro Devices is a leading semiconductor company that designs and manufactures computer processors and related technologies. The company's products are used in various applications, including gaming, data centers, and personal computers. AMD could benefit from broader tech trends and market optimism.
Latest Earnings: In Q1 2024, AMD reported an EPS of $0.08, an ROE of 0.88%, and a gross profit margin of 50.98%. The company's financial performance reflects its position in the semiconductor industry.
Earnings Forecast: Barclays forecasts that AMD's EPS will reach $3.50 in 2025 and $4.49 in 2026. The forecasted gross income for 2025 is $98.86 billion, and the forecasted EBIT is $7.99 billion.
Capital Flow Analysis: Over the past 5 days, AMD has experienced mixed capital flow, with both inflows and outflows. On July 23, the support price was $153.95, and the resistance price was $161.45.
Valuation Analysis: Analysts have a positive outlook on AMD, with a mean target price of $191.68. Among the analysts, 25 recommend buying the stock.
Please note that the above analysis is for informational purposes only and should not be considered as investment advice. It is important to conduct thorough research and analysis before making any investment decisions.