Costco and Amazon stocks are soaring due to impressive growth and strong financial performance

From Nasdaq: 2024-06-08 05:15:00

Over the last year, the Nasdaq Composite has surged by over 27%, rebounding from a 33% plunge during the challenges of 2022. Easing inflation and advancements in markets like AI have investors feeling bullish about the future.

Costco Wholesale and Amazon are seeing impressive growth with their stocks up 61% and 45% respectively. Both companies have promising outlooks, with Costco expanding globally and Amazon thriving in online retail and AI investments.

Costco’s revenue for the third quarter of 2024 hit $57 billion, marking a 9% increase year over year. With 74 million memberships and 878 locations worldwide, Costco’s growth trajectory is exciting for investors.

Amazon’s first-quarter 2024 earnings showed a 13% revenue increase and a 221% rise in operating income. Its retail segments and Amazon Web Services (AWS) are driving profitability, positioning the company as a long-term investment opportunity with growth potential in cloud computing and AI.

Costco and Amazon have been identified as soaring stocks to buy now, with Costco’s P/S ratio at 1.4 and Amazon’s strong position in retail and AWS. The potential for significant returns makes them attractive investments for the future.



Read more at Nasdaq: 2 Soaring Stocks I’d Buy Now With No Hesitation