Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.
Famed investor Jim Cramer remains convinced that the current environment is suitable for owning stocks. Here are the top three must-own stocks that he recommends buying for 2024.
Costco is a longtime Wall Street darling trading near all-time highs. This isn't a great time to buy the stock, but there never seems to be a good time.
Traders and other investors looking to take short positions in trending stocks with momentum on their side should consider this list. It covers seven equities that have maintained positive trajectories over the past month and in many cases, the entirety of this year and beyond.
Costco's valuation is extremely rich, with the stock trading at more than 50 times earnings. The company's growth rate, while solid at 9%, might not be strong enough to justify that kind of a price tag.
Costco surpasses revenue and earnings expectations, with net sales of $58.52 billion and a 9.1% YoY growth. Comparable store sales jumped 6%, with international markets showing stronger growth than the US. Initiating coverage with a cautious Buy based on Costco healthy financials, strong management team, and corporate strategy. However, near-term volatility is possible due to the stock at all-time highs.
Shares of Costco Wholesale Corp. (COST, Financial) have proven to be an exceptional investment historically. Over the past decade, the stock has delivered a total return of roughly 760%.
General Motors is turning to Costco's Auto Program to help it sell more EVs. The wholesaler partners with automakers and dealers to offer discounted vehicle prices for members.
The market rally remains uneven. While technology stocks and shares of companies directly involved in artificial intelligence continue to push higher, many other stocks are lagging the market's performance.
The club-based warehouse retailer clearly has had no problem growing its paying membership base. In fact, the way people shop these days favors Costco.
Costco's membership model breeds loyalty and sales growth. It has many ways to generate higher sales through new stores, upselling memberships, and capturing market share.
The membership-based retailing business model is a proven winner, provided the company in question can deliver real value at scale. Costco is evolving its business without abandoning the mission that made it a well-loved shopping option.