Investment feature highlights bullish equities like Nvidia, Coinbase, Tesla, and Astera Labs into year-end

From Nasdaq: 2024-11-27 01:22:00

Zacks Investment Ideas feature highlights Nvidia’s NVDA, Coinbase COIN, Tesla TSLA, and Astera Labs ALAB. Year-to-date, the S&P 500 Index is up over 26% in 2024 despite geopolitical conflicts and concerns over valuations. Presidential election year seasonality and AI spending are driving factors for bullish equities into year-end. Institutional investors may drive up 2024 winners like Coinbase, Tesla, and Astera Labs.

Historical seasonality trends indicate stocks tend to grind higher into the end of November, with December being higher 83% of the time during presidential election years. The Russell 2000 Index ETF is up over 12% in November, approaching its all-time highs from 2021. Business spending on AI surged 500% to $13.8 billion this year, with Nvidia’s earnings growth anticipated to be 123.08% year-over-year.

Institutional investors may engage in year-end window dressing, driving up winners like Coinbase, Tesla, and Astera Labs. The Nasdaq 100 ETF is on the verge of breaking out of a three-month base structure. Despite the strong performance of U.S. equities, data points suggest it’s not too late to get long stocks for an end-of-year rally.

Experts have identified 7 elite stocks with the potential for early price pops from Zacks Rank #1 Strong Buys. Since 1988, the full list has outperformed the market with an average gain of +24.1% per year. Investors are encouraged to give these hand-picked stocks immediate attention.



Read more at Nasdaq: Zacks Investment Ideas feature highlights: Nvidia’s, Coinbase, Tesla and Astera Labs