Starbucks Stock: Analyzing Growth Potential and Financial Performance
Starbucks Stock: Buy, Sell, or Hold?
Its massive global footprint both fosters and hinders the growth of its stock. Starbucks (NASDAQ: SBUX) is one of the most recognized brands in the world. Its steady growth has taken it to nearly 39,000 locations worldwide, and its store additions in China have helped fuel its continuous expansion.
Starbucks' growth prospects
Despite Starbucks' longtime presence, its industry has tremendous room for growth. According to Grand View Research, the specialty coffee market is expected to grow at a compound annual rate of 11% through 2030.
Since Starbucks operates in numerous countries, it could be better positioned than any other company to capitalize on this trend. With that, CEO Laxman Narasimhan recently announced at a conference that Starbucks can grow to 55,000 locations by 2030.
How it compares financially
With the continued expansion, Starbucks' revenue for the first quarter of fiscal 2024 (ended Dec. 31) rose 8% yearly to $9.4 billion...
... Star Advisor service has more than tripled the return of S&P 500 since 2002*.
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.