What stocks are likely to split in 2024?
Broadcom (NASDAQ:AVGO) would be a perfect candidate for a stock split in 2024. The move would align with other tech stocks that split their shares two years ago. Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) were among those splitting their stock then and the chipmaker can afford to do the same now.
Broadcom (NASDAQ:AVGO) would be a perfect candidate for a stock split in 2024. The move would align with other tech stocks that split their shares two years ago. Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) were among those splitting their stock then and the chipmaker can afford to do the same now.
| Stock | 2024 return through March 31 |
|---|---|
| SoundHound AI Inc. (SOUN) | 177.8% |
| Vera Therapeutics Inc. (VERA) | 180.4% |
| Avidity Biosciences Inc. (RNA) | 182% |
| Arcutis Biotherapeutics Inc. (ARQT) | 206.8% |
In 2021, Nvidia stock was priced at $583.36 on the day prior to the company announcing its intention to split its stock. That's nearly $180 less than its current stock price, which provides strong support for the theory the company could split its stock in 2024.
| Stock | Exchange | Ratio Numerator |
|---|---|---|
| MBLU | OTC | 2024-04-23 |
| PDGNF | OTC | 2024-04-23 |
| MYSZ | NASDAQ | 2024-04-23 |
| FLURF | OTC | 2024-04-23 |
- Nvidia Corp. (NVDA) ...
- Alphabet Inc. (GOOG, GOOGL) ...
- Meta Platforms Inc. (META) ...
- JPMorgan Chase & Co. (JPM) ...
- Tesla Inc. (TSLA) ...
- Mastercard Inc. (MA) ...
- Salesforce Inc. (CRM) ...
- Advanced Micro Devices Inc. (AMD)
Fortunately, analysts see positive earnings and revenue growth for all eleven market sectors this year. The healthcare sector is expected to generate a market-leading 17.8% earnings growth in 2024, while the information technology sector is expected to lead the way with 9.3% revenue growth.
With stock indexes at all-time highs, it seems we are in the midst of a new bull market. While much of the market's recent gains have come from a handful of stocks, the rally has begun to broaden in recent months. Expectations of an earnings rebound in 2024 suggest earnings could continue to drive the market higher.
- Analysts see big potential for these drugs over the next 12 months.
- Fiverr International (FVRR): FVRR to could double as freelancing grows.
- Lithium Americas (LAC): The rebound of lithium prices make LAC strong.
| S.No. | Name | ROCE3yr avg % |
|---|---|---|
| 1. | Hindustan Zinc | 44.68 |
| 2. | I R C T C | 42.13 |
| 3. | Lloyds Metals | 40.92 |
| 4. | Deepak Nitrite | 38.02 |
Will Nvidia stock reach $1000?
A return to lower interest rates will help shares maintain their current mid-30s forward earnings multiple. Both these factors could be more than enough to send NVDA stock to prices well north of $1000 per share. With this in mind, those deciding to skip or cash out of NVDA stock could end up regretting the move.
Average Price Target
Based on 41 Wall Street analysts offering 12 month price targets for Nvidia in the last 3 months. The average price target is $1,004.92 with a high forecast of $1,400.00 and a low forecast of $620.00. The average price target represents a 14.96% change from the last price of $874.15.
But if Nvidia can maintain (or marginally grow) its current revenue levels, it will still be OK. In Q1 FY 2025 (ending around April 30), management expects revenue of $24 billion, indicating 234% revenue growth from a year ago.
| Date | Symbol | Company Name |
|---|---|---|
| Apr 24, 2024 | CDTX | Cidara Therapeutics Inc |
| Apr 23, 2024 | ZAPP | Zapp Electric Vehicles Group Ltd. |
| Apr 23, 2024 | PIRS | Pieris Pharmaceuticals Inc |
| Apr 23, 2024 | MYSZ | My Size Inc |
Does it matter to buy before or after a stock split? If you buy a stock before it splits, you'll pay more per share than what it'll cost after it splits. If you're looking to buy into a stock at a cheaper price, you may want to wait until after the stock split.
There are no set guidelines or requirements that determine when a company will split its stock. Often, companies that see a dramatic rise in their stock value consider splitting stock for strategic purposes.
- Varun Beverages Ltd.
- Cholamandalam Investment & Finance Company Ltd.
- Tube Investments of India Ltd.
- SRF Ltd.
- Solar Industries India Ltd.
- Persistent Systems Ltd.
- Tata Elxsi Ltd.
- PI Industries Ltd.
- DaVita Inc. ( ticker: DVA)
- DraftKings Inc. ( DKNG)
- Extra Space Storage Inc. ( EXR)
- First Solar Inc. ( FSLR)
- Gen Digital Inc. ( GEN)
- Microsoft Corp. ( MSFT)
- Nvidia Corp. ( NVDA)
- SoFi Technologies Inc. ( SOFI)
Companies like L&T, HUL, and Godrej Consumer Products present solid fundamentals. Besides, conglomerates like RIL and ITC showcase diversification across multiple sectors, providing strength against market fluctuations.
| Stock | Politician | Traded |
|---|---|---|
| GS Goldman Sachs Group | Cruz, Ted R Senate | Apr 15, 2024 |
| UL Unilever Plc Adr | Whitehouse, Sheldon D Senate | Mar 22, 2024 |
| CMCSA Comcast Corp A | Whitehouse, Sheldon D Senate | Mar 13, 2024 |
| BRP Brp Group, Inc. - Class A Common Stock | C. Scott Franklin R House | Apr 9, 2024 |
Is 2024 a year to invest?
Key Takeaways: Growth stocks may see a robust 2024 on the strength of trends such as AI disruption and decarbonization. Small-cap stocks are trading at attractive valuations as analysts see the possibility of a rebound in 2024. The time could be right for locking in rates on long-term, high-yield bonds.
The estimates from strategists put the median target for the S&P 500 at 5,200 by the end of 2024, implying a decline of less than 1% from Friday's level, according to MarketWatch calculations. Heading into 2024, the median target was around 5,000 (see table below).
Which brings us to one of the best things about 2024: Because it is a US election year, politicians almost certainly won't throw up new roadblocks to stocks' rise. Election years tend to be bullish. The S&P 500's average election year return since 1925 is 11.4%, with returns up 83.3% of the time.
| Company | 3-Year Sales Growth CAGR | Industry |
|---|---|---|
| Nvidia (NASDAQ:NVDA) | 39% | Semiconductors |
| Netflix (NASDAQ:NFLX) | 7% | Streaming entertainment |
| Amazon (NASDAQ:AMZN) | 10% | E-commerce and cloud computing |
| Meta Platforms (NASDAQ:META) | 10% | Digital advertising |
Economic growth actually accelerated above its 10-year average in 2023. That resilience, coupled with a fascination about artificial intelligence (AI), changed investors' collective mood. The S&P 500 soared throughout the year and finally reached a new high in January 2024, making the new bull market official.
