NVDA
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Palantir
-- 119.160 Top 8 US stocks for 'meteoric rise'! The rate of increase in the second half of the year surpasses Nvidia! Good earnings reports and AI provide tailwinds.
In the early stages of US stock earnings, there was the ASML shock, but overall corporate performance remains robust.Against the backdrop of strong performance,、Some stocks have been hitting new highs for the year or since listing.There has been a succession of stocks which 'AI' is also one of the factors driving performance and stock prices. Among these stocks,There are stocks whose stock price increase rate in the second half of the year exceeds nvidia.Many. The earnings of banks, which are sensitive to economic trends, imply a soft landing, and companies with good earnings may try to reach new highs. This time,Pick 8 U.S. stocks with strong performance in both business performance and stock priceThe US economy further recovered, and the GDP growth rate reached 3.85% in 2004.
In the early stages of this earnings season, there was an ASML shock (*), but overall corporate performance was notably solid. As of October 17, more than 80% of the S&P500 index constituent companies that had announced earnings had results exceeding market expectations for earnings per share (EPS).
(*) On October 16th, "Semiconductor stocks experience a severe shock! What does ASML's sharp decline in orders imply? Checking the impact on NVIDIA and AI semiconductor stocks.Please refer to "". According to Reuters, Samsung Electronics has postponed the delivery of measures produced by ASML. $ASML Holding (ASML.US)$ The sharp decrease in orders may have been influenced not only by Intel's slump, but also by Samsung Electronics' delivery delays.
Current economic indicators are showing the strength of the U.S. economy. The retail sales data announced on October 17 for September exceeded market expectations, supporting the soft landing scenario.
Overall, the earnings of banks sensitive to economic trends have been solid, demonstrating consumer strength. Management statements at earnings calls also prominently support the soft landing scenario.
◇JP Morgan's management: "Consumer spending continues as the Federal Reserve envisioned, and the sentiments of large companies are positive." "Performance is consistent with a soft landing." "The situation resembles the so-called Goldilocks scenario quite closely."
(CEO of Dai: "Although inflation is slowing down and the U.S. economy remains strong, there are still some significant issues remaining (such as fiscal deficits, the need for infrastructure development, trade realignments, and global remilitarization).")
◇Wells Fargo's management: "In the 3Q, credit card and debit card spending have both increased compared to the previous year, although the pace of growth has slowed down, it is still healthy."
◇Bank of America's management: "Consumer spending increases have continued in October."
◇Goldman Sachs' management: "With the beginning of the interest rate cut cycle, optimism for a soft landing reignites, which should boost economic activity."
◇Bank of America's management: "Consumer spending increases have continued in October."
◇Goldman Sachs' management: "With the beginning of the interest rate cut cycle, optimism for a soft landing reignites, which should boost economic activity."
Following strong earnings and the statements from the banking executives mentioned above, in the US market, not only banks but also other strong performing stocks are hitting new highs.
A summary of companies that have completed their earnings reports as of October 17, with strong performance and stock prices. Due to financial stocks announcing earnings first, the ratio of financial stocks is high, but there are also many strong performing stocks outside the financial sector. Below, individual stocks are categorized into 1) Non-financial and 2) Financial related groups to review.
1) Non-financial
● $Taiwan Semiconductor (TSM.US)$
◆The world's largest foundry. Leading in technology ahead of competitors Samsung Electronics and Intel, maintaining the world's number one share in commissioned production of cutting-edge semiconductors including AI semiconductors. In the field of AI semiconductors, it can be said to be a company that benefits after Nvidia. The company announced results exceeding expectations, and analysts have revised their target stock prices upwards, similar to Nvidia.
◆The company exceeded market expectations for revenue and net profit in the July-September quarter. Against the backdrop of strong demand, the company once again raised its full-year revenue forecast for 2024. During the earnings call, the management explained, "The likelihood of equipment investment in 2025 exceeding this year is very high." While concerns exist about the sustainability of AI demand, the company's CEO stated, "The demand is real. I believe we are just getting started."
◆After the earnings reports, there was a noticeable increase in the target stock price by analysts. The average target stock price as of October 18th ($226.64) was raised by 4.6% from before the earnings.
(Note: Market forecasts and average target stock prices are based on Bloomberg's calculations, the same for the following).
● $Taiwan Semiconductor (TSM.US)$
◆The world's largest foundry. Leading in technology ahead of competitors Samsung Electronics and Intel, maintaining the world's number one share in commissioned production of cutting-edge semiconductors including AI semiconductors. In the field of AI semiconductors, it can be said to be a company that benefits after Nvidia. The company announced results exceeding expectations, and analysts have revised their target stock prices upwards, similar to Nvidia.
◆The company exceeded market expectations for revenue and net profit in the July-September quarter. Against the backdrop of strong demand, the company once again raised its full-year revenue forecast for 2024. During the earnings call, the management explained, "The likelihood of equipment investment in 2025 exceeding this year is very high." While concerns exist about the sustainability of AI demand, the company's CEO stated, "The demand is real. I believe we are just getting started."
◆After the earnings reports, there was a noticeable increase in the target stock price by analysts. The average target stock price as of October 18th ($226.64) was raised by 4.6% from before the earnings.
(Note: Market forecasts and average target stock prices are based on Bloomberg's calculations, the same for the following).
The US Department of Commerce is investigating whether TSMC is manufacturing AI and smart phone chips for Huawei in China, as reported by The Information on October 18. If the Department of Commerce determines that TSMC has violated export regulations in its dealings with Huawei, there is a possibility of penalties and regulations being imposed. In that case, it is expected that TSMC's performance and stock price will be affected to some extent. However, due to the relatively low percentage of revenue composition in China and based on past cases of Nvidia, the impact is expected to be short-term and limited. TSMC's revenue composition in mainland China (2023) is 12%, while the revenue composition in the USA is high at 65%. In terms of TSMC's medium- to long-term performance outlook, similar to Nvidia, investments in AI by major US tech companies are likely to be more important.
● $Accenture (ACN.US)$
◆A consulting services company. It provides consulting services and solutions related to management and technology. On October 2nd, it announced an expanded partnership with NVIDIA. NVIDIA explained that the partnership is part of its efforts to promote the spread of AI within the company and increase orders for its products. Accenture has established the NVIDIA Business Group to boost customer adoption of AI tools.
◆Both revenue and adjusted EPS (earnings per share) for the 6-8 month period exceeded market expectations. The order amount was $20.1 billion, a 21% increase from the same period last year, exceeding the market's expected $18.6 billion. The revenue forecast for the 9-11 month period also exceeded market expectations at the median.
◆The average target stock price as of October 18 (378.92 dollars) was raised by 7.1% compared to before the earnings announcement. The strengthening of the partnership with Nvidia is also believed to have led to the upward revision of the target stock price.
◆A consulting services company. It provides consulting services and solutions related to management and technology. On October 2nd, it announced an expanded partnership with NVIDIA. NVIDIA explained that the partnership is part of its efforts to promote the spread of AI within the company and increase orders for its products. Accenture has established the NVIDIA Business Group to boost customer adoption of AI tools.
◆Both revenue and adjusted EPS (earnings per share) for the 6-8 month period exceeded market expectations. The order amount was $20.1 billion, a 21% increase from the same period last year, exceeding the market's expected $18.6 billion. The revenue forecast for the 9-11 month period also exceeded market expectations at the median.
◆The average target stock price as of October 18 (378.92 dollars) was raised by 7.1% compared to before the earnings announcement. The strengthening of the partnership with Nvidia is also believed to have led to the upward revision of the target stock price.
● $Omnicom Group (OMC.US)$
◆A corner of the world's largest advertising holding company. It provides advertising, marketing, and corporate communication services. Through agencies, it handles various services such as traditional media advertising, customer relationship management (CRM), public relations, and special advertising in major markets around the world.
◆Both revenue and adjusted EPS for the July-September quarter exceeded market expectations. The organic growth rate was 6.5%, surpassing both the upper limit of the company's target (4-5%) and market expectations. The utilization of AI tools has become a differentiating factor in acquiring new business. During the earnings call, the management emphasized securing contracts with Amazon. Regarding the October-December quarter and fiscal year 2025, they stated that they are 'very confident'.
◆After the earnings report, several analysts raised their target stock prices. The average target stock price as of October 18 (114.93 dollars) was raised by 4.8% from before the earnings announcement.
◆A corner of the world's largest advertising holding company. It provides advertising, marketing, and corporate communication services. Through agencies, it handles various services such as traditional media advertising, customer relationship management (CRM), public relations, and special advertising in major markets around the world.
◆Both revenue and adjusted EPS for the July-September quarter exceeded market expectations. The organic growth rate was 6.5%, surpassing both the upper limit of the company's target (4-5%) and market expectations. The utilization of AI tools has become a differentiating factor in acquiring new business. During the earnings call, the management emphasized securing contracts with Amazon. Regarding the October-December quarter and fiscal year 2025, they stated that they are 'very confident'.
◆After the earnings report, several analysts raised their target stock prices. The average target stock price as of October 18 (114.93 dollars) was raised by 4.8% from before the earnings announcement.
2) Financial data & stock exchanges
● $Blackrock (BLK.US)$
◆The world's largest asset management company. It boasts the world's largest scale in managing low-cost funds (investment trusts and ETFs) particularly for individual investors. It also strengthens high-fee private market strategies. For example, it recently acquired infrastructure asset management company GIP. It is expected that GIP's management fees will be included in its performance from the October to December period.
◆The adjusted EPS for the July to September period was $11.46, exceeding the market estimate of $10.40. The total assets under management reached $11.5 trillion, increasing by $2.4 trillion from the previous quarter, setting a new record. Net inflows also reached $221 billion, the highest ever, significantly up from $82 billion in the previous quarter. Among these, the inflow into ETFs was the highest, reaching $97 billion. There was also a significant increase in funding inflows from institutions. The benefits of the inflow into ETFs are expected to continue in the future.
● $Blackrock (BLK.US)$
◆The world's largest asset management company. It boasts the world's largest scale in managing low-cost funds (investment trusts and ETFs) particularly for individual investors. It also strengthens high-fee private market strategies. For example, it recently acquired infrastructure asset management company GIP. It is expected that GIP's management fees will be included in its performance from the October to December period.
◆The adjusted EPS for the July to September period was $11.46, exceeding the market estimate of $10.40. The total assets under management reached $11.5 trillion, increasing by $2.4 trillion from the previous quarter, setting a new record. Net inflows also reached $221 billion, the highest ever, significantly up from $82 billion in the previous quarter. Among these, the inflow into ETFs was the highest, reaching $97 billion. There was also a significant increase in funding inflows from institutions. The benefits of the inflow into ETFs are expected to continue in the future.
◆After the earnings report, there has been a noticeable increase in the target stock prices set by analysts. The average target stock price as of October 18 (1078.80 dollars) has been raised by 6.4% compared to before the earnings announcement.
● $Goldman Sachs (GS.US)$
◆A global financial data & stock exchanges company. It provides a wide range of global financial services focusing on investment banking, securities, and asset management to companies, financial institutions, government agencies, etc. around the world.
◆The 7-9 month period saw a 45% increase in profits, surpassing market estimates. ROE was at 10.4% (market estimate 8.7%). Unexpected increases in stock trading revenue and the revival of investment banking contributed to the performance. The asset management & wealth management division also exceeded expectations. The company has strengthened the asset management & wealth management division to enhance individual banking services and reinstate investment banking while diversifying its performance, and these efforts are reflected in the earnings report.
◆After the earnings announcement, several analysts raised their target stock prices. The average target stock price as of October 18 (552.41 dollars) was raised by 4.5% from before the earnings call.
◆A global financial data & stock exchanges company. It provides a wide range of global financial services focusing on investment banking, securities, and asset management to companies, financial institutions, government agencies, etc. around the world.
◆The 7-9 month period saw a 45% increase in profits, surpassing market estimates. ROE was at 10.4% (market estimate 8.7%). Unexpected increases in stock trading revenue and the revival of investment banking contributed to the performance. The asset management & wealth management division also exceeded expectations. The company has strengthened the asset management & wealth management division to enhance individual banking services and reinstate investment banking while diversifying its performance, and these efforts are reflected in the earnings report.
◆After the earnings announcement, several analysts raised their target stock prices. The average target stock price as of October 18 (552.41 dollars) was raised by 4.5% from before the earnings call.
● $State Street (STT.US)$
◆It provides services for institutional investors. A global leader in asset management services, markets and finance, and asset management. According to company data, it services approximately 10% of the world's assets.
◆In the July-September quarter, net profit increased by 74% from the previous quarter, exceeding market expectations. Adjusted EPS was $2.26, beating market expectations ($2.12). The increase in fee income and net interest income drove the strong performance. Reflecting solid net inflows, total assets under management increased by 9% to $4.7 trillion.
◆After the earnings reports, several analysts raised their target stock price. The average target stock price as of October 18 ($97.59) was raised by 4.1% from before the earnings call.
◆It provides services for institutional investors. A global leader in asset management services, markets and finance, and asset management. According to company data, it services approximately 10% of the world's assets.
◆In the July-September quarter, net profit increased by 74% from the previous quarter, exceeding market expectations. Adjusted EPS was $2.26, beating market expectations ($2.12). The increase in fee income and net interest income drove the strong performance. Reflecting solid net inflows, total assets under management increased by 9% to $4.7 trillion.
◆After the earnings reports, several analysts raised their target stock price. The average target stock price as of October 18 ($97.59) was raised by 4.1% from before the earnings call.
● $Bank of New York Mellon (BK.US)$
◆Global financial services company. Providing services such as asset management, wealth management, asset servicing, issuance, settlement, treasury, etc. for financial institutions, corporations, and affluent clients.
◆The July-September quarter saw a significant increase in revenue and profit. The growth was contributed by increases in fee income and net interest income. Both net interest margin and earnings per share exceeded market expectations. ROE was 12.0% (market expectation 11.3%), and net interest margin was 1.16% (market expectation 1.13%).
◆After the earnings announcement, several analysts raised their target stock price. The average target stock price as of October 18 (81.18 dollars) was increased by 6.1% from before the earnings release.
◆Global financial services company. Providing services such as asset management, wealth management, asset servicing, issuance, settlement, treasury, etc. for financial institutions, corporations, and affluent clients.
◆The July-September quarter saw a significant increase in revenue and profit. The growth was contributed by increases in fee income and net interest income. Both net interest margin and earnings per share exceeded market expectations. ROE was 12.0% (market expectation 11.3%), and net interest margin was 1.16% (market expectation 1.13%).
◆After the earnings announcement, several analysts raised their target stock price. The average target stock price as of October 18 (81.18 dollars) was increased by 6.1% from before the earnings release.
● $JPMorgan (JPM.US)$
◆One of the four major banks in the United States. It engages in corporate and personal banking services, as well as securities, investment banking, and asset management businesses.
◆The financial results for the July-September quarter showed that the income from lending business continued to exceed market estimates. The trading department also performed well above expectations (particularly the stock market department). Additionally, despite the Fed's first interest rate cut in 4 years, the company raised its full-year net interest income forecast from the previous $91 billion to $92.5 billion.
◆Adjusted EPS for the July-September period was $4.37, exceeding the market estimate of $4.01. The return on equity (ROE) for shareholders is high at 15.3% (market estimate 15.1%), and the net interest margin is also 2.58% (market estimate 2.57%), surpassing other major banks.
◆After the earnings announcement, several analysts raised their target stock prices. The average target stock price as of October 18 was raised by 4.0% from before the earnings to $230.17.
◆One of the four major banks in the United States. It engages in corporate and personal banking services, as well as securities, investment banking, and asset management businesses.
◆The financial results for the July-September quarter showed that the income from lending business continued to exceed market estimates. The trading department also performed well above expectations (particularly the stock market department). Additionally, despite the Fed's first interest rate cut in 4 years, the company raised its full-year net interest income forecast from the previous $91 billion to $92.5 billion.
◆Adjusted EPS for the July-September period was $4.37, exceeding the market estimate of $4.01. The return on equity (ROE) for shareholders is high at 15.3% (market estimate 15.1%), and the net interest margin is also 2.58% (market estimate 2.57%), surpassing other major banks.
◆After the earnings announcement, several analysts raised their target stock prices. The average target stock price as of October 18 was raised by 4.0% from before the earnings to $230.17.
Regarding financial stocks, Warren Buffett's selling of shares is attracting attention. $Bank of America (BAC.US)$ The sale of roe is attracting attention and casting a shadow on future prospects. However, amid solid earnings and a soft landing scenario taking precedence, the stock price of Bank of America is also rebounding.
バフェット氏が保有し続いている $American Express (AXP.US)$ Also, nvidia has been performing well, reaching a new all-time high on October 17th. The earnings reports are scheduled for October 18th (local time).
24年10月18日作成 マーケットアナリスト Julie
出所：Bloombergによりmoomoo証券作成
出所：Bloombergによりmoomoo証券作成
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