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The Zacks Analyst Blog Highlights Apple, NVIDIA, Eli Lilly, American Tower and McKesson
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For Immediate Release
Chicago, IL – April 2, 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: Apple Inc. (AAPL - Free Report) , NVIDIA Corporation (NVDA - Free Report) , Eli Lilly and Company (LLY - Free Report) , American Tower Corp. (AMT - Free Report) and McKesson Corp. (MCK - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Top Stock Reports for Apple, NVIDIA and Eli Lilly
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 Apple Inc., NVIDIA Corporation and Eli Lilly and Company. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Apple shares have struggled lately, with the stock down -11.9% in the year-to-date period compared to +11.4% gain for the Zacks Tech sector and the +10.1% gain for the S&P 500 index.
The company is benefiting from steady iPhone sales amid stiff competition and weakness in China. Apple expects the March quarter’s revenues and iPhone revenues to be similar to that of the year-ago quarter’s figure after removing the additional $5 billion it generated due to pent-up demand for iPhone 14 and iPhone 14 Pro Max in the year-ago quarter.
Unfavorable forex is expected to hurt revenues by 2% on a year-over-year basis. For the Services segment, Apple expects a double-digit growth rate, similar to the December-end quarter. Strong adoption of Apple TV+ driven by strong content is a key catalyst.
Apple is gaining share in PCs which is positive. Apple’s strong cash balance and shareholder friendly approach to dividend and share repurchase is noteworthy. However, growing legal complexities has been a headwind.
(You can read the full research report on Apple here >>>) Shares of NVIDIA have outperformed the Zacks Semiconductor - General industry over the year-to-date period (+82.5% vs. +61.1%). The company’s Compute & Networking revenues are gaining from the strong growth of artificial intelligence (AI), high-performance and accelerated computing.
The data center end-market business is likely to benefit from the growing demand for generative AI and large language models using graphic processing units (GPUs) based on NVIDIA Hopper and Ampere architectures. A surge in hyperscale demand and higher sell-ins to partners across the Gaming and ProViz end markets following the normalization of channel inventory are acting as tailwinds.
Collaborations with Mercedes-Benz and Audi are likely to advance its presence in autonomous vehicles and other automotive electronics space. However, its near-term prospects are likely to be hurt by softening IT spending amid macroeconomic headwinds.
Eli Lilly shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the year-to-date period (+33.7% vs. +15.6%). The company’s revenue growth is being driven by higher demand for drugs like Mounjaro, Verzenio, Jardiance Taltz and others.
Lilly’s new FDA-approved tirzepatide medicines, diabetes drug Mounjaro and newly launched weight loss medicine, Zepbound, are expected to be key top-line drivers. Lilly has also launched some other new products recently like Omvoh and Jaypirca. These new products are expected to drive Lilly’s top line in 2024.
Lilly is also making rapid pipeline progress in areas like obesity, diabetes and Alzheimer’s. However, generic competition for some drugs, rising pricing pressure and challenges in meeting strong demand for incretin products like Trulicity are some top-line headwinds.
Other noteworthy reports we are featuring today include American Tower Corp. and McKesson Corp.
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 Apple, NVIDIA, Eli Lilly, American Tower and McKesson
For Immediate Release
Chicago, IL – April 2, 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: Apple Inc. (AAPL - Free Report) , NVIDIA Corporation (NVDA - Free Report) , Eli Lilly and Company (LLY - Free Report) , American Tower Corp. (AMT - Free Report) and McKesson Corp. (MCK - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Top Stock Reports for Apple, NVIDIA and Eli Lilly
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 Apple Inc., NVIDIA Corporation and Eli Lilly and Company. 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 >>>
Apple shares have struggled lately, with the stock down -11.9% in the year-to-date period compared to +11.4% gain for the Zacks Tech sector and the +10.1% gain for the S&P 500 index.
The company is benefiting from steady iPhone sales amid stiff competition and weakness in China. Apple expects the March quarter’s revenues and iPhone revenues to be similar to that of the year-ago quarter’s figure after removing the additional $5 billion it generated due to pent-up demand for iPhone 14 and iPhone 14 Pro Max in the year-ago quarter.
Unfavorable forex is expected to hurt revenues by 2% on a year-over-year basis. For the Services segment, Apple expects a double-digit growth rate, similar to the December-end quarter. Strong adoption of Apple TV+ driven by strong content is a key catalyst.
Apple is gaining share in PCs which is positive. Apple’s strong cash balance and shareholder friendly approach to dividend and share repurchase is noteworthy. However, growing legal complexities has been a headwind.
(You can read the full research report on Apple here >>>)
Shares of NVIDIA have outperformed the Zacks Semiconductor - General industry over the year-to-date period (+82.5% vs. +61.1%). The company’s Compute & Networking revenues are gaining from the strong growth of artificial intelligence (AI), high-performance and accelerated computing.
The data center end-market business is likely to benefit from the growing demand for generative AI and large language models using graphic processing units (GPUs) based on NVIDIA Hopper and Ampere architectures. A surge in hyperscale demand and higher sell-ins to partners across the Gaming and ProViz end markets following the normalization of channel inventory are acting as tailwinds.
Collaborations with Mercedes-Benz and Audi are likely to advance its presence in autonomous vehicles and other automotive electronics space. However, its near-term prospects are likely to be hurt by softening IT spending amid macroeconomic headwinds.
(You can read the full research report on NVIDIA here >>>)
Eli Lilly shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the year-to-date period (+33.7% vs. +15.6%). The company’s revenue growth is being driven by higher demand for drugs like Mounjaro, Verzenio, Jardiance Taltz and others.
Lilly’s new FDA-approved tirzepatide medicines, diabetes drug Mounjaro and newly launched weight loss medicine, Zepbound, are expected to be key top-line drivers. Lilly has also launched some other new products recently like Omvoh and Jaypirca. These new products are expected to drive Lilly’s top line in 2024.
Lilly is also making rapid pipeline progress in areas like obesity, diabetes and Alzheimer’s. However, generic competition for some drugs, rising pricing pressure and challenges in meeting strong demand for incretin products like Trulicity are some top-line headwinds.
(You can read the full research report on Eli Lilly here >>>)
Other noteworthy reports we are featuring today include American Tower Corp. and McKesson Corp.
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.