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Alphabet (GOOGL - Free Report) is one of the most innovative companies in the modern technological age. Alphabet’s first quarter results were driven by solid momentum in the cloud business. Further, improving Search performance on the back of major Search updates, was a positive. Also, strength in YouTube contributed well. Notably, robust cloud division remains the key catalyst. Expanding data centers will continue to bolster its presence in the cloud space. Strengthening generative AI capabilities should aid business growth in the long term. Alphabet’s deepening focus on wearables category remains a tailwind. Expanding presence in the autonomous driving space is a plus. Alphabet has been showing increased appetite in the smart home space. Management execution has been good in recent times, which has helped Alphabet to build solid cash and short-term investment balance. The stock has outperformed the industry it belongs to year to date. Alphabet presently has a Zacks Rank #1 and a Growth Score of B. The Zacks Consensus Estimate for its current-year earnings has moved up 11.8% over the past 60 days.
Royal Caribbean Cruises (RCL - Free Report) is a cruise company. It owns and operates three global brands — Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises. Shares of Royal Caribbean have outperformed the industry in the past year. The company posted impressive first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom line increased on a year-over-year basis. The company has been benefitting from strong cruising demand from new and loyal guests and robust booking trends. Also, strength in consumer spending onboard and pre-cruise purchases bodes well. Going forward, the company emphasized investing in a modern digital travel platform to streamline the vacation booking process for customers and expand wallet share. Also, it emphasized new innovative ships and onboard experiences to boost its offering and deliver superior yields and margins. RCL carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.0% over the last 60 days.
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Top Stock Picks for Week of May 13, 2024
Alphabet (GOOGL - Free Report) is one of the most innovative companies in the modern technological age. Alphabet’s first quarter results were driven by solid momentum in the cloud business. Further, improving Search performance on the back of major Search updates, was a positive. Also, strength in YouTube contributed well. Notably, robust cloud division remains the key catalyst. Expanding data centers will continue to bolster its presence in the cloud space. Strengthening generative AI capabilities should aid business growth in the long term. Alphabet’s deepening focus on wearables category remains a tailwind. Expanding presence in the autonomous driving space is a plus. Alphabet has been showing increased appetite in the smart home space. Management execution has been good in recent times, which has helped Alphabet to build solid cash and short-term investment balance. The stock has outperformed the industry it belongs to year to date. Alphabet presently has a Zacks Rank #1 and a Growth Score of B. The Zacks Consensus Estimate for its current-year earnings has moved up 11.8% over the past 60 days.
Royal Caribbean Cruises (RCL - Free Report) is a cruise company. It owns and operates three global brands — Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises. Shares of Royal Caribbean have outperformed the industry in the past year. The company posted impressive first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom line increased on a year-over-year basis. The company has been benefitting from strong cruising demand from new and loyal guests and robust booking trends. Also, strength in consumer spending onboard and pre-cruise purchases bodes well. Going forward, the company emphasized investing in a modern digital travel platform to streamline the vacation booking process for customers and expand wallet share. Also, it emphasized new innovative ships and onboard experiences to boost its offering and deliver superior yields and margins. RCL carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 9.0% over the last 60 days.