As we blink and the first quarter of 2024 fades into the past, it’s evident that compared to the turbulent times of recent years, these initial three months have been relatively calm. Gone are the days of rampant inflation, tech stock rollercoasters, and financial upheavals that once dominated headlines.
Instead, we’ve seen a steady rebuilding of fiscal structures, a surge in major stock market indices, and even murmurs of interest rate reductions by central banks across Europe and North America.
As we step into the second quarter, earnings season looms large, with major publicly listed companies preparing to unveil their financial performance. Here are five stocks worth considering during this crucial period:
Citigroup:
A titan in the world of investment banking, Citigroup has been on a remarkable upward trajectory over the past six months. Starting at below $40 per share last October, it soared to $63.15 per share by March 1, signalling a promising first quarter. Analysts anticipate further growth as Citigroup’s earnings report approaches.
NVIDIA:
Renowned for its graphics card products beloved by gamers and cryptocurrency miners alike, NVIDIA has defied industry trends by venturing into AI. Despite recent stock price volatility, NVIDIA remains a significant player in computing, especially as AI gains traction.
Lucid Group:
With electric vehicles (EVs) in the spotlight, Lucid Group stands out as a newcomer in a competitive market. However, with established automakers also diving into electrification, Lucid faces challenges ahead, especially considering its volatile stock performance.
Microsoft:
Microsoft’s bid to acquire Activision Blizzard for over $68 billion underscores its dominance in the technology sector. However, recent stock declines indicate potential challenges ahead, making its first-quarter earnings announcement on April 23 a crucial event to watch.
Amazon:
As one of the world’s most traded and highly capitalised tech stocks, Amazon continues to impress with its e-commerce and web services. Despite recent fluctuations, its stock has been on an upward trajectory, setting the stage for an intriguing first-quarter earnings announcement on April 25.
In a landscape characterised by both stability and volatility, these stocks offer unique opportunities for investors to navigate the ever-evolving market of April 2024.
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