In the first half of 2024, Nvidia’s Apple stock saw an impressive increase of around 152%, making it one of the standout winners in the market. Despite not being the largest company anymore, Nvidia is showing signs of regaining momentum and potentially surpassing Microsoft. However, the timing of its next surge is uncertain.
Investors looking for high-momentum options beyond Nvidia have other choices, including Abercrombie & Fitch (ANF), Broadcom (AVGO), and Oracle (ORCL). ANF has seen a resurgence in the apparel sector with a stock increase of over 111% year-to-date. The company’s improved financial performance and brand reinvigoration have contributed to its success, with the potential for further growth in the market.
AVGO, an AI chip giant, experienced a 50% gain in the first half of the year but recently saw a 10% drop. While some investors may be concerned, analyst Vivek Arya believes in the company’s growth drivers, management, and dividend. AVGO offers exposure to AI growth with a relatively attractive dividend payout, making it a compelling investment option.
ORCL has seen a 37% increase in its stock price this year, with strong momentum heading into the second half. The company’s growth profile, highlighted by its data center expansion and new AI developments, positions it well for sustained growth. With a forward price/earnings ratio of 22.7 and a dividend yield of 1.12%, ORCL presents itself as a value play in the AI industry.
Overall, while Nvidia remains a prominent player in the market, investors have the opportunity to explore other high-momentum stocks such as ANF, AVGO, and ORCL. Each company offers unique growth prospects and investment potential within the evolving market landscape.
Article Source
https://investorplace.com/2024/07/3-high-momentum-stocks-that-are-way-cheaper-than-nvidia/
