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However, the focus now shifts to whether these companies will continue to lead in 2024 or if other stocks, such as the "Fab Four," will take the forefront, per a Motley Fool article, published on Yahoo Finance.
Visa has demonstrated impressive growth since its IPO in 2008, with a 21% CAGR. The company thrives on a simple yet effective model of charging fees for transactions on its vast payment network. In fiscal year 2023, Visa processed transactions worth over $12 trillion, leading to substantial revenues and net income. Visa has been rewarding shareholders with significant repurchases and dividends.
Visa comes from a top-ranked Zacks sector (top 19%) and industry (top 31%). The stock’s past four quarter’s average earnings surprise stood at 5.35%. The stock has exposure to iShares U.S. Financial Services ETF (IYG - Free Report) (about 9% focus) and Financial Select Sector SPDR Fund (XLF - Free Report) (about 7.96% focus).
As a prominent cybersecurity provider, CrowdStrike's relevance has soared with the increase in cyberattacks. The company reported a 35% revenue growth recently, with a subscription-based model that's highly scalable. The growing need for cybersecurity solutions positions CrowdStrike for continued success.
The company hails from a top-ranked Zacks sector (top 31%) and industry (top 12%). The stock’s past four quarter’s average earnings surprise stood at 16.56%. The stock has exposure to Global X Cybersecurity ETFBUG (about 6.61% focus) and TrueShares Technology, AI & Deep Learning ETF LRNZ (about 6.53% focus).
Despite setbacks in 2022, Shopify has rebounded strongly, showing substantial revenue growth. The company has improved its financial health by reducing costs and increasing free cash flow. Shopify is becoming a preferred e-commerce platform for influencers and emerging brands.
The company belongs to a top-ranked Zacks sector (top 31%) and industry (top 12%). The stock’s past four quarter’s average earnings surprise stood at 106.11%. The stock has exposure to First Trust Dow Jones International Internet ETF (FDNI - Free Report) (about 10% focus) and ARK Fintech Innovation ETF ARKF (about 8.66% focus).
Nvidia benefits from the growing demand in AI technologies and applications. The company's revenue and earnings are increasing, with analysts raising their future earnings estimates. Given its role in the AI revolution, Nvidia is expected to have a strong performance in 2024.
The company comes from a top-ranked Zacks sector (top 31%). The stock’s past four quarter’s average earnings surprise stood at 18.99%. The stock has exposure to VanEck Semiconductor ETF (SMH - Free Report) (about 19.4% focus) and AXS Esoterica NextG Economy ETF WUGI (about 18.8% focus).
(Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.)
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Will 2024 be a Year of "Fab Four" ETFs Instead of "Magnificent Seven"?
In 2023, the "Magnificent Seven" stocks, namely Apple (AAPL - Free Report) , Microsoft (MSFT - Free Report) , Alphabet (GOOGL - Free Report) , Amazon (AMZN - Free Report) , Nvidia (NVDA - Free Report) , Meta Platforms META, and Tesla (TSLA - Free Report) , dominated the S&P 500, accounting for nearly two-thirds of its total return.
Potential Market Leaders for 2024: The "Fab Four"
However, the focus now shifts to whether these companies will continue to lead in 2024 or if other stocks, such as the "Fab Four," will take the forefront, per a Motley Fool article, published on Yahoo Finance.
1. Visa (V - Free Report)
Visa has demonstrated impressive growth since its IPO in 2008, with a 21% CAGR. The company thrives on a simple yet effective model of charging fees for transactions on its vast payment network. In fiscal year 2023, Visa processed transactions worth over $12 trillion, leading to substantial revenues and net income. Visa has been rewarding shareholders with significant repurchases and dividends.
Visa comes from a top-ranked Zacks sector (top 19%) and industry (top 31%). The stock’s past four quarter’s average earnings surprise stood at 5.35%. The stock has exposure to iShares U.S. Financial Services ETF (IYG - Free Report) (about 9% focus) and Financial Select Sector SPDR Fund (XLF - Free Report) (about 7.96% focus).
2. CrowdStrike Holdings (CRWD)
As a prominent cybersecurity provider, CrowdStrike's relevance has soared with the increase in cyberattacks. The company reported a 35% revenue growth recently, with a subscription-based model that's highly scalable. The growing need for cybersecurity solutions positions CrowdStrike for continued success.
The company hails from a top-ranked Zacks sector (top 31%) and industry (top 12%). The stock’s past four quarter’s average earnings surprise stood at 16.56%. The stock has exposure to Global X Cybersecurity ETF BUG (about 6.61% focus) and TrueShares Technology, AI & Deep Learning ETF LRNZ (about 6.53% focus).
3. Shopify (SHOP - Free Report)
Despite setbacks in 2022, Shopify has rebounded strongly, showing substantial revenue growth. The company has improved its financial health by reducing costs and increasing free cash flow. Shopify is becoming a preferred e-commerce platform for influencers and emerging brands.
The company belongs to a top-ranked Zacks sector (top 31%) and industry (top 12%). The stock’s past four quarter’s average earnings surprise stood at 106.11%. The stock has exposure to First Trust Dow Jones International Internet ETF (FDNI - Free Report) (about 10% focus) and ARK Fintech Innovation ETF ARKF (about 8.66% focus).
4. Nvidia (NVDA - Free Report)
Nvidia benefits from the growing demand in AI technologies and applications. The company's revenue and earnings are increasing, with analysts raising their future earnings estimates. Given its role in the AI revolution, Nvidia is expected to have a strong performance in 2024.
The company comes from a top-ranked Zacks sector (top 31%). The stock’s past four quarter’s average earnings surprise stood at 18.99%. The stock has exposure to VanEck Semiconductor ETF (SMH - Free Report) (about 19.4% focus) and AXS Esoterica NextG Economy ETF WUGI (about 18.8% focus).
(Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.)