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By: Aquib Nawab
Finance
This is the first earnings season of 2024, and it's been a mix of hope and disappointment for different industries. Several companies will be reporting their earnings soon, which can cause big moves in the stock market. While Tesla's earnings didn't meet expectations, there are other companies with promising numbers that could make their stock prices go up.
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Microsoft (NASDAQ: MSFT) is expected to show good numbers in their quarterly report. They've been investing in artificial intelligence (AI), and even though the numbers may not be huge yet, they're growing. Microsoft had a successful 2023.
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In the first quarter of 2024, Microsoft made $56.4 billion in revenue, which is 13% more than the year before. Their earnings per share (EPS) also went up by 27% to $2.99. The part of Microsoft that deals with cloud computing is growing fast, especially Azure, which increased by 29% compared to the previous year.
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Microsoft's stock is currently at $403, which is 66% higher than it was a year ago. Even though it's not a cheap stock, it's worth considering. They also pay a small but important dividend of 0.74%, and they have enough money to keep giving dividends. They will report their earnings on Jan. 30, and if it's good news, the stock could go even higher.
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Alphabet (NASDAQ: GOOG, GOOGL) is a company we all know well because of Google. Google Search brings in a lot of money, and it hasn't lost customers to AI or other companies. YouTube is also growing and making more money for Alphabet.
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In the third quarter, Alphabet made $76.69 billion in revenue, which is 11% more than the year before. Their earnings per share (EPS) was $1.55. Alphabet's cloud business and advertising are helping them make a lot of money.
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Alphabet's stock is trading at $153, which is lower than other tech stocks. But it has a lot of potential for growth, even though it's at a 52-week high. In the past five years, the stock has gone up by over 170%. They will announce their earnings on Jan. 30, and it's a good stock to consider before then.
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Amazon (NASDAQ: AMZN) has a lot going for it. If people start spending more money, Amazon is likely to have better fourth-quarter results. They're not just an online store, they have many other businesses too.
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In the third quarter, Amazon made $143.1 billion in sales, which is 13% more than the year before. Their net income was $9.9 billion. Amazon Web Services (AWS) is growing fast and making a lot of money.
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Amazon's stock is currently at $159, which is 58% higher this year and 95% higher in the past five years. Even though it's at a 52-week high, there's still room for it to go up. They will announce their earnings on Feb. 1, and if the economy improves, they could have a great year.
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