Earnings season is winding down, and companies have provided investors and analysts insight into their growth plans for the coming quarters.
It has provided an opportunity for several companies to demonstrate how they are adapting to new realities, such as the growing popularity of electric vehicles or the unrelenting demand for semiconductor chips.
What are the most influential tracks- These five companies have been singled out by some of Wall Street’s top analysts as top stock pickers with appealing long-term prospects for investors.
The green tidal wave has raged on across the industry, with multiple names going public at exorbitant valuations that many have found difficult to swallow. While smaller, more adaptable pure-play electric vehicle (EV) companies may find it more convenient to focus on their condensed product offerings, General Motors (GM) does not intend to fall behind.
The analyst went on to say that if near-term issues like the global chip shortage and the Chevy Bolt recall fallout can avoid, the company will have a clear path to doubling its revenue by 2030. Ives believes that If GM follows through on its EV promises, the stock price could rise even higher than its target.
GM’s big plans aren’t its only tool; the company has also developed “game-changing” Ultium battery technology, which Ives believes will help it gain market share. However, he does not see Tesla (TSLA) losing its hegemonic position in the nascent industry. In addition, GM has been developing software-and-services subscription packages to go along with its robust EV pipeline.
TipRanks, a financial aggregator, ranks Ives 22nd out of over 7,000 analysts. His ratings were successful 82 percent of the time and yielded an average of 64.3 percent per.
The semiconductor shortage is clogging the engines of several industries, most notably the automotive and smartphone manufacturing industries. Meanwhile, due to the increased demand, some chip design firms are reporting impressive earnings and revenue. Nvidia (NVDA) recently outperformed expectations for the third quarter in a row, and analysts do not expect it to slow down anytime soon. Hyperscalers drove data Center for cloud computing, natural language processing, and deep recommender models.
However, an increase in supply could benefit the company’s graphics processing unit, or GPU, inventory. Rolland anticipates this occurrence as a potential future tailwind in 2022.