tl;dr
In 2024, Citi has named Meta (NASDAQ:META), Amazon (NASDAQ:AMZN), and Uber (NYSE:UBER) as top picks, favoring internet companies that are making strategic investments and seeing expanding margins. Analysts predict continued momentum for these companies, with online advertising forecast to grow by 12...
In 2024, Citi has named Meta (NASDAQ:META), Amazon (NASDAQ:AMZN), and Uber (NYSE:UBER) as top picks, favoring internet companies that are making strategic investments and seeing expanding margins. Analysts predict continued momentum for these companies, with online advertising forecast to grow by 12% and e-commerce by 9% in the U.S. These companies have rallied in 2023, with Meta up 183%, Uber gaining 143%, and Amazon rising 80%. Despite the high forward price to earnings ratios, Seeking Alpha's Quant Rating system gives Uber a Hold rating due to a low valuation grade, but also high marks for growth, profitability, and momentum. Meta receives a Strong Buy rating with a low valuation grade but high marks for growth, profitability, and momentum. Amazon also has a Hold rating, with a low valuation grade, but strong marks for growth, profitability, and momentum.
More about Meta Platforms Inc.
Meta Platforms Inc. (formerly Facebook) is a technology company that develops products for connecting people through various devices. The company has a market cap of $885.63 billion, with a current stock price of $341.76. The stock has a 52-week range of $30.39 to $48.97, indicating significant volatility. Market sentiment appears bullish, with a positive Relative Strength Index (RSI) of 48.97, and the stock is currently trading above its 200-day moving average, suggesting a potential uptrend. However, it's important to note that past performance is not always indicative of future results, and there are risks associated with investing in any stock, particularly in the rapidly evolving technology sector.
More about Amazon.com Inc
Amazon.com Inc. is a leading multinational technology company in the e-commerce, cloud computing, digital streaming, and artificial intelligence sectors. With a market cap of $1.59 trillion and a stock price of $3,257.60, Amazon has consistently shown strong performance in the retail-catalog and mail-order industry. The stock has experienced a 1.91% increase in the past month, with a Relative Strength Index (RSI) of 53.95, indicating a moderate bullish sentiment. However, it's important to note potential risks associated with market uncertainties and the company's influential position in the global economy.
More about Uber Technologies Inc
Uber Technologies Inc. is a leading American technology company offering a range of services including ride-hailing, food delivery (Uber Eats), package delivery, couriers, freight transportation, and electric bicycle and motorized scooter rental through a partnership with Lime. The company operates within the trade and services sector, specifically in business services with a market capitalization of 127,031,697,000. The stock is currently trading at 118.71 with a 0.52% change, and a 17.81% Relative Strength Index (RSI), indicating a slightly overbought condition. The company's market sentiment is currently positive with a bullish trend, but it's important to note that past performance is not always indicative of future results. Additionally, potential risks and uncertainties should be taken into consideration when analyzing this stock.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.