Investors who buy companies with strong business prospects will likely outperform the stock markets.
Elvance Health (ELV), a managed care player, posted strong Q1 results, similar to that of market leader UnitedHealth (UNH). It benefited from premium rate adjustments that cover medical cost trends.
Blackstone (BX) is a good long-term hold after the firm posted strong first-quarter results. Private credit and private wealth transactional volumes improved. It has $191.2 billion in available capital to invest. It now manages $1.06 trillion in assets, up from $1.04 trillion sequentially.
Proctor & Gamble (PG) is an attractive buy. Organic sales increased by 3% Y/Y. In Q1, it expects EPS to grow by 10% to 11%. Expect the firm to increase prices without losing customers.
In the chip sector, demand for artificial intelligence-related processors will continue. ASML Holding (ASML) offers strong growth, profitability, and positive stock momentum. Look for demand for its EUV machines to rise throughout this year.
Taiwan Semiconductor (TSM) posted some weaknesses due to smartphone seasonality. However, HPC-related demand offset that. It lowered its 2024 forecast. It now sees foundry industry growth in the mid-to-high percentage in the teens
TSM will spend $28 billion to $32 billion in 2024. This will enable it to retain its lead in advanced packaging, testing, and mask making.
