Nvidia To Rally Around 23%? Here Are 10 Top Analyst Forecasts For Thursday

Wednesday, November 13, 2024

Markets were mixed for the Hump Day session today, with slight misses on the Nasdaq and small-cap Russell 2000 — -0.26% and -0.75%, respectively — offset a tad by even slighter gains on the Dow, +0.11%, and the S&P 500, +0.02%. This does not bring the S&P back to new all-time closing highs.

The Monthly U.S. Federal Budget out this afternoon didn’t help matters, tumbling to -$257 billion from -$243 billion expected. This estimate was already a huge slide from the previous month’s -$67 billion.

Cisco Reports Mixed Q1, Shares Flat

Cisco Systems CSCO, which literally does not miss on earnings, beat again this afternoon in fiscal Q1: by 4 cents to 91 cents per share in the quarter, -18% year over year. Revenues $13.75 billion missed expectations by a smidge, -6.2% year over year. Good guidance for both next quarter and the full fiscal year join improved non-GAAP gross margins and +20% product order in the quarter were the positive highlights.

Shares are flat in the after-market on the news. Cisco is up +17% year to date, but not keeping pace with the S&P, which is up +26% from the start of January trading.

Check out the updated Zacks Earnings Calendar here.

Beazer Beats in Q4 on Strong October

Beazer Homes BZH shares are up +12% on its fiscal Q4 report after today’s close. Earnings of $1.69 per share outperformed the Zacks consensus by 33 cents per share, on $784 million in revenues surging past the $774.3 million expected. October sales rose +30% year over year, although mortgage rates began to creep back up at the end of the month. Beazer reverses its negative year-yo-date share price with today’s release.

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Zacks Investment Research

The stock market and bitcoin have soared to all-time highs since Donald Trump’s victory. Wall Street is betting that lower corporate taxes, less red tape, and other efforts will drive economic and stock market growth everywhere from technology and crypto to infrastructure and beyond.

See the Zacks Earnings Calendar to stay ahead of market-making news.

Wall Street is also pleased with the outlook for earnings growth and the Fed’s rate cut projections. Of course, near-term profit-taking would hardly be shocking considering the run the market has gone on over the last week and year.

Thankfully, the next dip should be bought up rather quickly since the November-January period is historically the most bullish stretch for the stock market.

Investors looking to add exposure to the stock market to close out 2024 might want to consider buying market-crushing stocks, fueled by impressive upward earnings revisions.

The two stocks we explore today—AppLovin and MasTec—have destroyed the S&P 500 over the last 12 months and earned Zacks Rank #1 (Strong Buys) following their beat-and-raise earnings reports.

APP stands to benefit from long-term growth across digital apps, boosted by artificial intelligence (AI). MTZ is expanding alongside the energy transition and infrastructure spending.

Is This AI-Boosted Stock a Buy After Soaring 620% in 2024?

AppLovin Corporation’s APP growing portfolio empowers companies and app developers to acquire and keep their ideal users, increase value across a customer’s lifecycle, measure their marketing and reach, and more. AppLovin’s machine learning and artificial intelligence (AI)-boosted technologies and offerings help its clients reach their target users in-app, on mobile devices, across CTV, and other critical areas.

AppLovin is thriving as customers flock to its offerings to succeed in the cut-throat world of digital apps where companies big and small fight for eyeballs, downloads, and screentime in our smartphone-obsessed world.