The software business can be a lucrative one, with high profit margins and a long runway for growth as satisfied customers sign up for additional services over time. But these characteristics also mean the industry is competitive, attracting rivals seeking to establish themselves
Meta Platforms executives are heavily focused on boosting retention on their new Twitter rival Threads, after the app lost more than half of its users in the weeks following its buzzy launch, CEO Mark Zuckerberg told employees on Thursday.
Chipmaker Intel on Thursday posted a surprise quarterly profit as a PC market slump started to ease, and forecast third-quarter earnings above Wall Street expectations, sending its shares up about 6%.
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Netflix Inc (Symbol: NFLX), where a total of 196,490 contracts have traded so far, representing approximately 19.6 million underlying shares. That amounts to about 230.
U.S. stocks ended lower on Thursday after news that the Bank
of Japan will allow long-term interest rates to rise sent U.S.
yields higher, snapping the longest winning streak for the Dow
since 1987.
Chipmaker Intel forecast third-quarter profit above Wall Street expectations on Thursday as a slump in the PC market started to ease, sending its shares up 8% in extended trading.
The Dow Jones Industrial Average was on the verge of ending its longest winning streak in 36 years on Thursday, successive gains showing that Wall Street's tech-driven rally is broadening to include a wider chunk of the stock market.
The Invesco Dividend Achievers ETF is seeing unusually high volume in afternoon trading Thursday, with over 425,000 shares traded versus three month average volume of about 77,000. Shares of PFM were down about 0.1% on the day.
Oregon Senator Ron Wyden has asked the Federal Trade Commission, the Cybersecurity and Infrastructure Security Agency and the Justice Department to 'take action' against Microsoft following a China-linked hack that reportedly resulted in the theft of thousands of government emails from top U.S. officials.
After years of frantic growth, cloud computing adoption has taken a breather over the past year or so. There's little doubt that last year's downturn -- accompanied by the worst stock market performances in over a decade -- was a contributing factor as businesses reined in spendi
After years of frantic growth, cloud computing adoption has taken a breather over the past year or so. There's little doubt that last year's downturn -- accompanied by the worst stock market performances in over a decade -- was a contributing factor as businesses reined in spendi
The Meta Platforms (
NASDAQ:META
), Microsoft (
NASDAQ:MSFT
), and Nvidia (
NASDAQ:NVDA
) are among the widely-discussed stocks on the famous social media platform Reddit. While these stocks are buzzing on Reddit and have significantly gained mentions, TipRanks’
Analyst Top Stocks tool shows that analysts love these stocks.
TipRanks’ Analysts’ Top Stocks tool highlights stocks with a 'Strong Buy' or 'Strong Sell' rating consensus based on the recommendations of the
best-performing analysts.
Note that TipRanks identifies the top Wall Street analysts per sector, per timeframe, and against different benchmarks. The ranking reflects an analyst’s ability to deliver high returns via recommendations.
Against this backdrop, let’s delve deeper into these trending Reddit stocks.
What are Expectations for META Stock?
Meta stock has appreciated quite a lot on a year-to-date basis, thanks to the momentum in its products and social platforms. Further, its focus on reducing costs and driving profitable growth impressed investors. Despite the massive increase in its stock, analysts are bullish about Meta’s prospects.
On TipRanks, META stock has received 27 unanimous Buy recommendations from top Wall Street analysts for a Strong Buy consensus rating. The
average Meta stock price forecast of $347 implies 8.5% upside potential from current levels. Also, the highest 12-month price target on META is $410, which indicates an impressive 28.5% upside potential.
Meta recently
announced stronger-than-expected Q2 results. Following the
Q2 earnings,
Goldman Sachs analyst Eric Sheridan increased his price target on META stock to $384 from $335 and maintained a Buy recommendation on the stock.
With ad revenues reaccelerating and the investments in
AI (artificial intelligence) increasing efficiency and providing growth opportunities ahead, Sheridan sees META stock as a solid long-term pick.
Along with Sheridan, top analysts, including
Brad Erickson of RBC Capital and
Mark Shmulik of Bernstein, reiterated their Buy recommendations on META stock on July 27.
Microsoft: Are Analysts Bullish on the Stock?
With 23 Buys, one Hold, and one Sell recommendation from top Wall Street analysts, Microsoft stock has a Strong Buy consensus rating. These analysts’
average MSFT price target of $391.75 implies 16.86% upside potential from current levels.
Nine analysts, including
Rishi Jaluria of RBC Capital and
Bradley Sills of Bank of America Securities, reiterated a Buy recommendation on MSFT stock on July 26. Further, the highest 12-month price target on MSFT is $425, which implies an impressive ~27% upside potential. This was given by
Citi analyst Tyler
Radke and
Barclays analyst Raimo Lenschow on July 25.
Microsoft stock has gained over 40% so far this year. Meanwhile,
Goldman Sachs analyst Kash Rangan remained upbeat about MSFT stock and reiterated a Buy rating on July 21. The analyst expects Microsoft to benefit from the strength of its cloud offering (encompassing Azure and Office). Further, the analyst sees MSFT as well-positioned to capitalize on secular tailwinds, including digital transformation and generative AI.
Is NVDA Stock a Good Buy Right Now?
Shares of the
chip company Nvidia skyrocketed this year thanks to the advancements in generative AI and its dominant positioning in the AI space. Despite the massive growth in its share price, the stock has received 27 Buys and two Hold recommendations from top Wall Street analysts. The
average NVDA price target of $502.86 from these analysts implies 7.6% upside potential.
Further, the highest price target of $600 represents 28.5% upside potential from current levels.
Mizuho securities analyst Vijay Rakesh reiterated a Buy recommendation on NVDA stock on July 24. The analyst increased the price target to $530 from $400.
Rakesh expects the addressable market for AI unit servers to expand by 10 times over the next five years. Moreover, Nvidia, the dominant AI player, remains well-positioned to capitalize on this significant growth opportunity.
The Bottom Line
META, MSFT, and NVDA stocks are trending on Reddit and appear attractive long-term bets, owing to the strong secular sector trends, their solid competitive positioning, and their Strong Buy consensus ratings from top Wall Street analysts.
Disclosure
It has been a rip-roaring start to 2023 for the stock market with the technology sector performing particularly well. The Nasdaq-100 index, which is home to the largest tech companies listed on the Nasdaq exchange, has surged 42% year-to-date.
It’s been an impressive 2023 for U.S. large-cap equities. The iShares Core S&P 500 ETF (IVV) had risen 19% as of July 24, with consumer discretionary and information technology stocks leading the way. However, many advisors recently told VettaFi that they believe other strategies will perform better in the remainder of 2023. VettaFi hosted a [...]
Read more at ETFtrends.com.
A shot was just fired in a war between several technology giants. Is it an artificial intelligence (AI) skirmish? Nope. In this case, it's a map war. On Wednesday, the Overture Maps Foundation announced the release of an open map dataset that includes data on more than 59 million
Fintel reports that on July 27, 2023, Rosenblatt maintained coverage of Microsoft (NASDAQ:MSFT) with a Buy recommendation. Analyst Price Forecast Suggests 3.73% Upside
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Wall Street futures rose on Thursday, supported by a surge
in Meta Platforms after its strong third-quarter revenue
forecast lifted megacap growth and technology stocks, and hopes
that the U.S. Federal Reserve's July rate hike was the last this
year.
Zoom Video's (NASDAQ: ZM) product helped save the world from a true economic meltdown during the pandemic's height. Without Zoom's technology, many companies would have lost contact with customers, and the situation would have worsened. However, now that Zoom's products (or compe