Promising Growth Stocks to Watch for Potential Soaring Returns This Year
Saturday, 18 May 2024, 10:15
Promising Growth Stocks to Watch for Potential Soaring Returns This Year
1. Navigate toward growth
Garmin (NYSE: GRMN) shares show potential for further growth in 2024 with stellar sales results and improved profitability. CEO Cliff Pemble attributes the success to a robust product portfolio and strong demand trends.
- Navigational technology specialist Garmin (NYSE: GRMN) reports a 40% revenue increase in fitness wearables and an 11% improvement in smartwatches.
- The company's operating profit rises to 22% of sales, supporting a nearly 40% increase in earnings.
2. Amazing returns
Amazon's (NASDAQ: AMZN) impressive sales growth and expanding business segments point to continued success. CEO Andy Jassy highlights potential growth areas, including services and subscription-based models.
- Amazon's Q1 revenue climbs 13% driven by strong demand for AI-powered cloud services.
- The company's free cash flow reaches $50 billion, with profit more than tripling to $10 billion.
Investors can anticipate solid returns from these growth-oriented stocks in 2024 and beyond.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.