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Today’s episode of Full Court Finance at Zacks dives into the stock market and takes a look at the next likely market catalysts as we near Thanksgiving. Despite the recent dip, the market has been on a strong run during the first half of the fourth quarter. With this in mind, let’s look at three stocks—JinkoSolar (JKS - Free Report) , GlobalFoundries (GFS - Free Report) , DexCom (DXCM - Free Report) —that investors might want to buy for long-term growth potential from three different parts of the economy that become more important by the day.
Wall Street posted a slightly downbeat week as investors learned a lot more about the current state of the U.S. consumer via reports from Walmart, Target, Home Depot, and others. The reports highlight that consumers are pulling back on discretionary spending.
The outlook for S&P 500 earnings continues to decline for fiscal 2023, with the aggregate total down over 8% from the peak. Still, overall S&P 500 earnings are projected to be up 2.8% in 2023 on 2.5% higher revenue. This is expected to follow 4.9% earnings expansion this year on 10.2% stronger sales.
Wall Street has been actively pricing in falling earnings and rising rates. But the market could have gotten slightly ahead of itself with last week’s post-CPI release surge. Jay Powell and the Fed aren’t likely to pull back on their efforts just yet. Therefore, the next major market catalysts will likely be November’s CPI data and the Fed’s December FOMC meeting.
That said, time in the market often beats market timing, especially for long-term investors. And Wall Street is always ahead of Mainstreet. Therefore, investors might want to consider buying stocks after the strong first half of the fourth quarter. Today, we explore three stocks that are set to expand within three crucial growth industries.
JinkoSolar is one of the largest solar panel manufacturers on the planet. JinkoSolar has grown its revenue at an impressive and mostly steady rate over the last decade. The Chinese solar firm topped Zacks Q3 estimates in early November, as its global module shipments doubled year-over-year. JKS lands a Zacks Rank #1 (Strong Buy) right now and its top and bottom-line outlook is impressive. (It’s worth pointing out that I bought JKS stock as part of Zacks' newest trading service – Alternative Energy Innovators).
GlobalFoundries is a U.S.-based chip manufacturer that’s poised to gain momentum and market share as those in power realize the U.S. must play a larger role in the actual manufacturing of semiconductors. GlobalFoundries is exposed to growth in mobile devices, data centers, the auto industry, and beyond. GFS topped our Q3 estimates on November 8, and its positive bottom-line revisions help it land a Zacks Rank #2 (Buy).
DexCom’s continuous glucose monitoring systems for people with diabetes have grown in popularity because they enable users, families, and healthcare providers to receive data constantly to help make the best medical decisions. DexCom stock has skyrocketed over the last 10 years as diabetes becomes more prevalent. DexCom topped our Q3 estimates and the stock still trades 30% below its highs.
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3 Stocks to Buy for Long-Term Growth Upside
Today’s episode of Full Court Finance at Zacks dives into the stock market and takes a look at the next likely market catalysts as we near Thanksgiving. Despite the recent dip, the market has been on a strong run during the first half of the fourth quarter. With this in mind, let’s look at three stocks—JinkoSolar (JKS - Free Report) , GlobalFoundries (GFS - Free Report) , DexCom (DXCM - Free Report) —that investors might want to buy for long-term growth potential from three different parts of the economy that become more important by the day.
Wall Street posted a slightly downbeat week as investors learned a lot more about the current state of the U.S. consumer via reports from Walmart, Target, Home Depot, and others. The reports highlight that consumers are pulling back on discretionary spending.
The outlook for S&P 500 earnings continues to decline for fiscal 2023, with the aggregate total down over 8% from the peak. Still, overall S&P 500 earnings are projected to be up 2.8% in 2023 on 2.5% higher revenue. This is expected to follow 4.9% earnings expansion this year on 10.2% stronger sales.
Wall Street has been actively pricing in falling earnings and rising rates. But the market could have gotten slightly ahead of itself with last week’s post-CPI release surge. Jay Powell and the Fed aren’t likely to pull back on their efforts just yet. Therefore, the next major market catalysts will likely be November’s CPI data and the Fed’s December FOMC meeting.
That said, time in the market often beats market timing, especially for long-term investors. And Wall Street is always ahead of Mainstreet. Therefore, investors might want to consider buying stocks after the strong first half of the fourth quarter. Today, we explore three stocks that are set to expand within three crucial growth industries.
JinkoSolar (JKS - Free Report)
JinkoSolar is one of the largest solar panel manufacturers on the planet. JinkoSolar has grown its revenue at an impressive and mostly steady rate over the last decade. The Chinese solar firm topped Zacks Q3 estimates in early November, as its global module shipments doubled year-over-year. JKS lands a Zacks Rank #1 (Strong Buy) right now and its top and bottom-line outlook is impressive. (It’s worth pointing out that I bought JKS stock as part of Zacks' newest trading service – Alternative Energy Innovators).
GlobalFoundries (GFS - Free Report)
GlobalFoundries is a U.S.-based chip manufacturer that’s poised to gain momentum and market share as those in power realize the U.S. must play a larger role in the actual manufacturing of semiconductors. GlobalFoundries is exposed to growth in mobile devices, data centers, the auto industry, and beyond. GFS topped our Q3 estimates on November 8, and its positive bottom-line revisions help it land a Zacks Rank #2 (Buy).
DexCom, Inc. (DXCM - Free Report)
DexCom’s continuous glucose monitoring systems for people with diabetes have grown in popularity because they enable users, families, and healthcare providers to receive data constantly to help make the best medical decisions. DexCom stock has skyrocketed over the last 10 years as diabetes becomes more prevalent. DexCom topped our Q3 estimates and the stock still trades 30% below its highs.