Over the past 3 months, the S&P 500 Index has grown by +8.1%. However, Information Technology (+21.3%) та Communication Services (+12.8%) sectors performed better. Among the industries, the best performers over the period were Automobiles (+39%), and Technology Hardware, Storage & Peripherals (+32%). Among the companies, the best performers over the period were Tesla (+46%), Nvidia (+46%) and Teradyne (+42%).
The week was short due to the US Independence Day, but that didn't stop the S&P 500 and Nasdaq from setting new historical records. Despite the fact that all possible indicators are begging for a correction, the markets continue to rise - human greed really knows no bounds. This is a quick review from Ivan Kompan, Edinburgh Business School analyst.
During the last three months, the growth of the leaders in the S&P 500 index was the software industry +5.1%. Some of the largest (by market capitalization) companies in this industry: Intuit ($183.8 billion), which develops business process automation solutions for enterprise customers, and ServiceNow ($158.9 billion), which controls more small business accounts and tax management reporting in the USA.
Today, we will talk about Apple (AAPL), which is one of the top growth stocks over the past 3 months. Over the past three months, Apple shares have risen by +22.3%. At the same time, the technology sector, to which the company belongs, grew by +14.0%, and the S&P 500 index grew by +4.0%. As you can see, Apple shares show better returns than the sector average.
Last week, 10 companies from the S&P 500 index reported. Today, we are going to analyze the results of Micron Technology. Its revenue is $6.8B. It grew by +16.7% compared to the corresponding value for the previous quarter and exceeded analysts' expectations by +2.1%. Let's analyze the company's business in more detail.
Over the past 3 months, the S&P 500 Index has grown by +4.0%. However, Information Technology (+14.0%) та Communication Services (+9.4%) sectors performed better. Among the industries, the best performers over the period were Semiconductors & Semiconductor Equipment (+22%), and Technology Hardware, Storage & Peripherals (+21%). Among the companies, the best performers over the period were Nvidia (+36%), First Solar (+33%) and Teradyne (+31%).
The US Federal Reserve's "higher and longer" strategy, which involves keeping interest rates high, is showing results. Its goal is to make a "soft landing", avoiding an economic crisis by raising rates to fight inflation. Data show a gradual cooling of the economy and a decline in inflation, although it remains high. This is a quick review from Ivan Kompan, Edinburgh Business School analyst.
Over the past three months, the Household Products industry (+5.0%) has been one of the top growth leaders in the S&P 500 index. Some of the largest companies in this industry (by market capitalization): Church & Dwight ($26.6B), one of the world's largest baking soda producers, and Clorox ($17.2B), a manufacturer of hygiene and related products.
Today, we'll talk about Newmont (NEM), which has been one of the top growth stocks over the past 3 months. Over the past three months, Newmont shares have risen by +22.3%. At the same time, the commodities sector, to which the company belongs, declined by -2.4%, while the S&P 500 index rose by +4.2%. As you can see, Newmont's shares show better returns than the sector average.
Last week, 11 companies from the S&P 500 index reported. Today, we are going to look at Kroger's results. Its revenue is $45.2B. It grew by +8.2% compared to the corresponding value for the previous quarter and exceeded analysts' expectations by +0.9%. Let's analyze the company's business in more detail.
