3 Stocks to Buy Now for a Killer Q4

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Already into the year’s final quarter, it’s time to prepare for a massive 2024. With a strong earnings season, the market has been recovering so bag stocks that will continue to soar. Invest in companies that have stellar fundamentals, a steady growth history, and the ability to withstand all the market ups and downs. Let’s take a look at the three stocks to buy now for a killer Q4.

Amazon (AMZN)

Amazon (NASDAQ:AMZN) is going to have an excellent holiday season which will be reflected in Q1 results. AMZN stock has had an impressive year so far, up 65% year to date (YTD). Exchanging hands at $142 today, the company suffered in 2022 but has rebounded since then.

Third-quarter results show significant improvements, with the possibility of upcoming, multiple high-growth quarters. With revenue up 7% year over year (YOY), Amazon Web Services (AWS) was up 12% YOY.

AMZN has signed a $4 billion deal with Anthropic, which could lead to a higher demand for AWS. The company is a long time user of AI and has also entered the robotics segment to improve delivery and logistics.

With inflation cooling and consumer spending improving, we could see Amazon report better-than-expected numbers for this quarter. The management expects a revenue of $121 billion to $126 billion in the quarter, with holiday spending a large contributor. Buy AMZN stock before it hits a new 52-week high next week.

Apple (APPL)

Apple (NASDAQ:AAPL) is a long-term buy and hold, and this holiday season could be huge for the company. Additionally, recent launches of iPhone 15 and new Mac models will likely drive revenue.

In the Q4 results, the company saw record iPhone sales which didn’t even include the sales of the new iPhone 15. Its revenue came in at $89.5 billion, and the revenue from the services segment was up 16% to hit 22.3 billion. While product sales might have slowed due to consumer sentiment, we can see a steady rise in the services segment.

Besides that, Apple has a loyal customer base. This brand loyalty sets it apart from all the other tech companies.

The company expects its services revenue to climb in early 2024. However, the upcoming holiday season and the new lineup will contribute to higher product sales. We’ll likely see strong numbers in the coming financial results.

SoFi Technologies (SOFI)

SoFi Technologies (NASDAQ:SOFI) entered the market to transform its users’ banking experience and has now become a one-stop shop for all financial needs. With the resumption of student loan payments, SoFi is set to gain.

Trading at $7.31, the stock presents as a deal. Up 62% YTD and moving toward the 52-week high of $11, SOFI has the potential to double your money.

SoFi saw a 47% YOY increase in the number of members to hit 717,000. Further, it saw a deposit growth of $2.9 billion quarter over quarter and a 100% YOY rise in the net interest income to hit $345 million.

Further, management has raised the revenue outlook, with expectations in the range of $2.04 billion to $2.06 billion. The rise in unsecured loans and a high demand for student loan refinancing will generate strong business for the company, taking the stock higher.


This article was originally published on this site