Forget Tesla: Consider These 2 Millionaire-Maker Stocks to Buy Instead
From Nasdaq:
Tesla’s revenue growth is slowing and profits are falling, as seen in the fourth-quarter earnings report. The company’s revenue rose 1% and overall revenue was up just 3%. As a result of lower prices, operating income fell 47%, and adjusted earnings per share fell 40%. Tesla also forecast slower production growth in 2024.
Nvidia stock soared over the last year as its chips are in high demand. Revenue tripled year over year and GAAP profit rose by 12x. The company’s valuation has come down, and it appears to be set for another strong year in 2024 as cloud infrastructure companies are still rapidly building out their AI infrastructure.
General Motors stock now trades at a low PE ratio and has a growing EV and autonomous vehicle business in Cruise. GM remains more profitable than Tesla and is reporting solid growth with a 14% increase in vehicles sold to 2.6 million. GM also raised its dividend and announced a $10 billion accelerated share repurchase program in November.
The Motley Fool Stock Advisor analyst team identified 10 best stocks for investors to buy now, including Nvidia. The service has more than tripled the return of S&P 500 since 2002.
Read more: Forget Tesla: Consider These 2 Millionaire-Maker Stocks to Buy Instead