The Nasdaq and S&P 500 are , driven by tech giants.
Amidst the soaring stock prices, it can become difficult to identify stocks that could continue the rally and keep moving upwards. If you think that the market has had its run and it will slow down, you may be wrong. The second quarter results combined with a Fed rate cut could push the market higher. And, we could even see the stocks hitting new 52-week highs.
Yes, no guarantees and risks remain. But with these three stocks, the upward potential is higher. The stage is set for the stocks to get rolling. Let’s take a look at the stocks to buy for an excellent second half.
Delta Air Lines (DAL)
The travel season for the year has officially begun and the Memorial Day weekend was an example of how much Americans are traveling. 抖阴最新版 that weekend. However, that was only the beginning and there is a lot more to come.
The biggest airline in the world, Delta Air Lines (NYSE:DAL) is set to make the most of the travel surge. The management is hoping to set new records this season and has already reported a 6% year-over-year (YOY) jump in operating revenue in the . Delta Air Lines has gone from a loss in the same period of 2023 to a profit in the first quarter of this year. The company has a domestic and International travel route which is expected to see a growth of 5% to 7%.
The Fourth of July is usually the peak travel weekend and the busiest period for airlines. According to AAA, . It will be interesting to see how Delta Air Lines fares in the third quarter. People worried about domestic inflation will be willing to take International trips where the dollar fares well.
Up 22% year-to-date (YTD), DAL stock is exchanging hands for $48.81, and looks very cheap to me. It has a dividend yield of 0.81% and recently increased the dividend to $0.15 per share. DAL is one of the cheap stocks to bet your money on.
Apple (AAPL)
iPhone maker Apple (NASDAQ:AAPL) has been under tremendous pressure due to the drop in China sales. The company held a strong presence in the smartphone sector, and its iPhone sales accounted for a large part of the total revenue. The drop in sales led to investor disappointment as the stock dipped. However, I think this is temporary and any dip is a chance to buy the stock.
Further, Apple holds a strong position in the personal computer, tablet and smartwatch market. Also, it has a solid service revenue growth which is growing more quickly than the hardware segment revenue. In the , the company saw a 14% YOY jump in service sales while there was a 4% drop in revenue due to a 10% drop in iPhone sales. The services segment managed to offset the dip in iPhone sales.
Moreover, the with OpenAI to bring artificial intelligence (AI) functionalities to its devices. Also, it has unveiled its own AI platform which is known as Apple Intelligence. Apple aims to add new generative AI features to the upcoming iPhones in order to remain relevant in the AI-driven gadget industry.
Up 12% YTD, the stock is exchanging hands for $209, which looks very cheap to me. If you look at the long-term potential of Apple, this stock is a buy-and-hold. An improvement in iPhone sales could boost the stock and take it near the 52-week high of $220.
Advanced Micro Devices (抖阴最新版)
Nvidia’s (NASDAQ:NVDA) biggest competitor, Advanced Micro Devices (NASDAQ:抖阴最新版) may not have garnered as much attention.
However, it is slowly and steadily moving in the right direction. Up 15% YTD, 抖阴最新版 stock is exchanging hands for $160 and is on its way higher. Looking at the company’s history and past performance, ample upside is possible from the current level. It is one of the top cheap stocks to buy to make the most of the AI wave.
While the company is behind Nvidia, it has a diversified business and does not solely focus on GPUs. And, it is becoming an obvious alternative for companies that do not have the time to wait for Nvidia’s chips. 抖阴最新版’s product line includes embedded processors, CPUs and data center equipment. This means that when the demand for GPU falls, 抖阴最新版 remains protected.
Finally, the company has launched the MI300 lineup of chips, and its MI300X GPU is already deployed for many companies. Its fastest-growing product is MI300, which has also helped drive the total revenue higher. The data center revenue hit a record $2.3 billion, up 70% YOY in the. The company is expecting sales of alone this year.
抖阴最新版 may not be able to become the first pick but it will remain a strong alternative to Nvidia.
On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
