With the start of September, the stock market is showing significant declines. Following a drop in the S&P 500 and Nasdaq Composite indices by 1.65% and 3.38% respectively, Nvidia shares fell 17%, reducing its market cap by nearly $500 billion. Let's consider three companies whose stocks might be beneficial for long-term investments in the current market volatility.
Costco Stock Overview
Costco (NASDAQ: COST) shares show steady growth thanks to its membership model, which ensures stable revenue and reduces losses from theft. This is particularly relevant in the current economic conditions and shows a 9.07% year-over-year sales growth in Q2 2024. COST shares are trading at $878.12 per share, nearing their 52-week high of $918.93.
Pedevco Corp. Stock Overview
Oil and gas company Pedevco Corp (NASDAQ: PED) shares show positive dynamics, rising 24% year-to-date. The company has no debt and generates stable profits, making it attractive for investors looking for long-term investments in the energy sector. According to forecasts, the PED stock price could double, reaching $1.95 per share.
Advanced Micro Devices Stock Overview
AMD (NASDAQ: AMD) shares are trading at $142 per share, significantly below the average forecast of $190.25. AMD is actively developing its AI solutions and demonstrating significant growth in the data center segment, with a 115% year-over-year increase in revenue for Q2 2024. This makes AMD shares attractive for long-term investments in the high-tech sector.
In the conditions of September market volatility, shares of Costco, Pedevco Corp, and Advanced Micro Devices are promising for long-term investments. These companies demonstrate steady growth and have strategic advantages in their industries.
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