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The Zacks Analyst Blog Highlights Alphabet, Bank of America, Advanced Micro Devices, Danaher and TJX
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For Immediate Release
Chicago, IL – February 22, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Alphabet Inc. (GOOGL - Free Report) , Bank of America Corp. (BAC - Free Report) , Advanced Micro Devices, Inc. (AMD - Free Report) , Danaher Corp. (DHR - Free Report) and The TJX Companies, Inc. (TJX - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Top Stock Reports for Alphabet, Bank of America and AMD
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Alphabet Inc., Bank of America Corp. and Advanced Micro Devices, Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Shares of Alphabet have gained +9.3% over the past six months against the Zacks Internet - Services industry’s gain of +12.4%. The company’s strong cloud division is aiding substantial revenue growth. Moreover, expanding data centers will continue to bolster its presence in the cloud space.
Further, major updates in its search segment are enhancing the search results. Also, strong focus on innovation of AI techniques and the home automation space should aid business growth in the long term. Further, its deepening focus on the wearables category remains a tailwind.
Alphabet’s expanding presence in the autonomous driving space is contributing well. Its growing efforts to gain a foothold in the healthcare industry are other positives. However, sluggishness in the company’s Network advertisement business remains a headwind. Additionally, its growing litigation issues and increasing expenses are concerns.
Bank of America’s shares have gained +21.4% over the past six months against the Zacks Banks - Major Regional industry’s gain of +24.6%. Higher interest rates and decent loan demand will keep supporting the company’s net interest income (NII) growth in the upcoming quarters. The opening of financial centers and improving digital capabilities is expected to further support the top line.
Yet, the current tough macroeconomic environment will continue to weigh on the company’s investment banking (IB) business. This, along with the volatile nature of the capital markets, will likely hurt fee income. Due to inflationary pressure, overall costs are expected to remain elevated.
Shares of AMD have outperformed the Zacks Electronics - Semiconductors industry over the past six months (+56.8% vs. +49.5%). The company is benefiting from portfolio strength and an expanding partner base. Strong demand for EPYC processors has been a growth driver.
The launch of the Ryzen 8040 series processor with Ryzen AI and Instinct MI300 Series data center AI accelerators bodes well for top-line growth. AMD continues to benefit from acquisitions, including Xilinx and Pensando, which has diversified its business. For fourth-quarter 2023, AMD expects to witness year-over-year growth in the Data Center and Client segments by double-digit percentage.
Sequentially, the Data Center segment’s revenues are expected to grow on a double-digit percentage, while Client is expected to increase. However, weakness in the Gaming and Embedded segment revenues are expected to hurt top-line growth.
Other noteworthy reports we are featuring today are Danaher Corp. and The TJX Companies, Inc.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Alphabet, Bank of America, Advanced Micro Devices, Danaher and TJX
For Immediate Release
Chicago, IL – February 22, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Alphabet Inc. (GOOGL - Free Report) , Bank of America Corp. (BAC - Free Report) , Advanced Micro Devices, Inc. (AMD - Free Report) , Danaher Corp. (DHR - Free Report) and The TJX Companies, Inc. (TJX - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Top Stock Reports for Alphabet, Bank of America and AMD
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Alphabet Inc., Bank of America Corp. and Advanced Micro Devices, Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Shares of Alphabet have gained +9.3% over the past six months against the Zacks Internet - Services industry’s gain of +12.4%. The company’s strong cloud division is aiding substantial revenue growth. Moreover, expanding data centers will continue to bolster its presence in the cloud space.
Further, major updates in its search segment are enhancing the search results. Also, strong focus on innovation of AI techniques and the home automation space should aid business growth in the long term. Further, its deepening focus on the wearables category remains a tailwind.
Alphabet’s expanding presence in the autonomous driving space is contributing well. Its growing efforts to gain a foothold in the healthcare industry are other positives. However, sluggishness in the company’s Network advertisement business remains a headwind. Additionally, its growing litigation issues and increasing expenses are concerns.
(You can read the full research report on Alphabet here >>>)
Bank of America’s shares have gained +21.4% over the past six months against the Zacks Banks - Major Regional industry’s gain of +24.6%. Higher interest rates and decent loan demand will keep supporting the company’s net interest income (NII) growth in the upcoming quarters. The opening of financial centers and improving digital capabilities is expected to further support the top line.
Yet, the current tough macroeconomic environment will continue to weigh on the company’s investment banking (IB) business. This, along with the volatile nature of the capital markets, will likely hurt fee income. Due to inflationary pressure, overall costs are expected to remain elevated.
(You can read the full research report on Bank of America here >>>)
Shares of AMD have outperformed the Zacks Electronics - Semiconductors industry over the past six months (+56.8% vs. +49.5%). The company is benefiting from portfolio strength and an expanding partner base. Strong demand for EPYC processors has been a growth driver.
The launch of the Ryzen 8040 series processor with Ryzen AI and Instinct MI300 Series data center AI accelerators bodes well for top-line growth. AMD continues to benefit from acquisitions, including Xilinx and Pensando, which has diversified its business. For fourth-quarter 2023, AMD expects to witness year-over-year growth in the Data Center and Client segments by double-digit percentage.
Sequentially, the Data Center segment’s revenues are expected to grow on a double-digit percentage, while Client is expected to increase. However, weakness in the Gaming and Embedded segment revenues are expected to hurt top-line growth.
(You can read the full research report on AMD here >>>)
Other noteworthy reports we are featuring today are Danaher Corp. and The TJX Companies, Inc.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.