Year-to-date, as of March 24, 2024, the Dow returned 6.70% YTD, while the S&P 500 and NASDAQ showed more robust growth of 10.39% and 10.50% respectively.
The market’s pulse
As we turned the page into 2024, the stock market's heartbeat stabilized, focusing more on the nitty-gritty of individual company and sector fundamentals. Year-to-date, as of March 24, 2024, the Dow returned 6.70% YTD, while the S&P 500 and NASDAQ showed more robust growth of 10.39% and 10.50% respectively. Plus, after underperforming the last few years, tech is again the top-performing S&P 500 sector, gaining 12.34% year-to-date.
On the economic front, the forecasted slowdown in growth hasn't dampened spirits, with GDP growth hitting an estimated 3.0% in Q1. The jobs market has also shown surprising resilience, adding 275,000 jobs in February, although unemployment rose slightly to 3.9%. Moreover, stock valuations tell a tale of selective opportunities, with small-value stocks trading at significant discounts, suggesting that the devil, as always, is in the details.
Global events shaping market sentiments
The first quarter wasn't just about numbers and forecasts; several global events also influenced it. American politics are as tumultuous as ever, and the country faces a pivotal presidential election that could shape the future of democracy in the United States. Abroad, the specter of expanded conflict looms large in the Middle East, with Israel-Hamas and Israel-Hezbollah unrest potentially sparking a broader regional war.
The war in Ukraine grinds on, entering its third year with little change on the ground but significant implications for global diplomacy and security. A Russian missile strike on Odesa, diplomatic maneuvers by Ukraine's President Zelensky, and the dark underbelly of human trafficking related to the conflict stress the complex interplay between war, politics, and the global economy.
FINQFIRST beats the market: Portfolio highlights
Now, let’s enter the world of FINQFIRST, where the fusion of AI technology and a detailed scientific approach transforms how investors research stocks. While the front-end portfolio appears as an easily digested, daily updated ranking, the system working behind the scenes is comprehensive, detailed, and precise. Below, we peel back the layers and explain the methodology and criteria that make FINQFIRST a game-changer in stock selection.
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The method behind the madness of stock selection
At the heart of FINQFIRST's success lies a robust, data-driven approach, utilizing AI to sift through vast data arrays with a focus on Professional Wisdom from thousands of analysts, Crowd Wisdom via social media and public forums, and Financial Fundamentals from company reports and earnings.
This comprehensive analysis ensures that stock selections are based on a blend of expert insights, public sentiment, and solid financial data, underpinned by advanced AI technology that continuously updates rankings and insights to adapt to market changes.
Best performing stocks analysis by FINQ
Now, let's get into the good stuff- the top-ranked stocks at the end of Q1 2024 from FINQFIRST as of March 24, 2024.
1. Salesforce Inc. (CRM)
Salesforce stands tall as a leading CRM player, blending sales, service, marketing, and AI into a unified Customer 360 platform. This innovation powerhouse embraces the future with AI integration and leads the charge in generative CRM, setting the stage for a transformative 2024. With a global CRM market set to hit $157.53 billion by 2030, Salesforce's strategic positioning is impeccable. Fiscal 2023 saw a hearty 18% revenue jump to $31.4 billion, bolstered by a 19% increase in operating cash flow. The momentum continued into the first quarter of fiscal 2024, with revenues climbing 11% to $8.25 billion and non-GAAP operating margins reaching an impressive 27.6%.
Salesforce’s FINQ rank
CRM has been consistent in FINQFIRST’s top 10 since late November and its top 5 since early December. The last time CRM was ranked outside the top 10 was on November 29, 2023, when it scored 93/100 in Professional Wisdom, 18/100 in Crowd Wisdom, and 33/100 in Fundamentals. In comparison, today, CRM has a 99/100 Professional Wisdom score, 100/100 Crowd Wisdom score, and 100/100 Fundamentals score.
2. Amazon.com Inc. (AMZN
Amazon.com Inc. (AMZN) continues to impress as the top-ranked FINQFIRST stock for the second straight quarter, a testament to its robust financial health and strategic market positioning. In Q4 2023, Amazon's net sales leaped by 14% to $170.0 billion, with operating income skyrocketing to $13.2 billion from $2.7 billion in the same quarter the previous year. Its net income significantly jumped to $10.6 billion, signaling strong profitability. Annually, sales surged by 12% to $574.8 billion. Amazon's dominance in e-commerce is unwavering, further solidified by its addition to the Dow Jones. The AWS division remains a major profit engine, even as the company navigates through workforce adjustments. With analysts bullish about Amazon's future, driven by cloud growth and AI innovations, Amazon's growth trajectory appears more promising than ever.
Amazon's FINQ rank
AMZN has been a mainstay in FINQFIRST’s top 5 for months now. The last time it wasn’t in the top 10 was on November 17, 2022, when it was ranked 16th, with scores of 89/100 in Professional Wisdom, 73/100 in Crowd Wisdom, and 0/100 in Fundamentals. Today, AMZN has improved significantly, achieving a perfect 100/100 in both Professional Wisdom and Fundamentals and a Crowd Wisdom score of 10/100.
NVIDIA is on a growth trajectory, with earnings and revenue expected to climb over 21% annually.
3. NVIDIA Corporation (NVDA)
In the 3rd spot, NVIDIA remains a powerhouse in the GPU domain (with up to a 95% share. With its importance to AI advancements and a wide array of tech applications, its financials are impressive. Q4 revenue hit $22.1 billion, a staggering 265% increase year-over-year, and GAAP earnings per share reached $4.93, soaring 765% from the previous year. Fiscal 2024 saw revenues doubling to $60.9 billion. NVIDIA is on a growth trajectory, with earnings and revenue expected to climb over 21% annually, alongside a booming AI chip demand.
NVIDIA's FINQ rank
NVDA was last ranked outside of FINQFIRST's top 10, with an 11 ranking on February 21, 2024, and scores of 93/100 in Professional Wisdom, 66/100 in Crowd Wisdom, and 33/100 in Fundamentals. Today, NVDA scores 99/100 in Professional Wisdom, 90/100 in Crowd Wisdom, and 33/100 in Fundamentals.
4. Microsoft Corporation (MSFT)
Microsoft's leap to number 4 on the FINQFIRST rankings underscores its prowess across software, cloud computing, gaming, and AI, highlighted by a strategic $10 billion investment in OpenAI. In the latest quarter, it posted an 18% revenue jump to $62.0 billion, with operating and net income soaring by 33%. The cloud sector alone saw a 24% increase. Poised for future growth, Microsoft eyes a 12.4% annual earnings and revenue uptick, with an expected 28.4% return on equity over three years. Analysts predict a 15% surge in annual revenue to $244 billion and a 19% earnings boost.
Microsoft's FINQ rank
On February 15, 2024, MSFT ranked 11 with scores of 96/100 in Professional Wisdom, 50/100 in Crowd Wisdom, and 33/100 in Fundamentals. However, with its number 4 ranking, MSFT now has a 100/100 Professional Wisdom score, 50/100 Crowd Wisdom score, and 33/100 Fundamentals score.
5. Adobe (ADBE)
Adobe jumped into the 5th spot on March 21, 2024. They’ve seen huge growth in the past quarter considering that in December 2023 it was in 31st position, where their Fundamentals was 33/100. Historically, Adobe Systems has seen a cash flow increase of 16.8%, and it's forecasted to experience a 12.1% growth in cash flow this year.
Adobe’s FINQ rank
On March 21, 2024, Adobe entered the top 10 for the first time at position 10 with a ranking of 11 and scored of 96/100 in Professional Wisdom, 90/100 in Crowd Wisdom, and 100/100 in Fundamentals. Now, with its number 5 ranking, it scores 96/100 in Professional Wisdom, 90/100 in Crowd Wisdom, and 100/100 in Fundamentals. Owing to the ranking system being relative, this shows that while their scores remained the same, they improved in the overall FINQ rank while others worsened.
6. ServiceNow (NOW)
ServiceNow has climbed to the 6th spot, transforming how enterprises around the globe operate. Its Now Platform tears down silos, linking systems, departments, and workflows in a way that rejuvenates IT operations, redefines customer service, streamlines employee services, and enables users to craft their applications. This innovative approach led to outstanding financials in Q4 2023, with subscription revenues soaring to $2,365 million, a 27% increase, and total revenues reaching $2,437 million, up by 26%. The company's impressive 99% renewal rate speaks volumes about its market dominance. As a digital workflow leader, ServiceNow boasts 1,897 customers, each bringing over $1 million in annual contract value. For 2024, ServiceNow has upped its subscription revenue forecast to between $10.555 billion and $10.575 billion, targeting 21.5% to 22% growth.
ServiceNow’s FINQ rank
As recently as January 26, 2023, NOW had a sub-top 10 ranking at 19 with scores of 90/100 in Professional Wisdom, 60/100 in Crowd Wisdom, and 33/100 in Fundamentals. Now ranked 6th with scores of 94/100 in Professional Wisdom, 100/100 in Crowd Wisdom, and 100/100 in Fundamentals.
7. Uber Technologies Inc. (UBER)
Uber Technologies is in the 7th spot, as of March 24, 2024, showcasing its role as a pivotal player in the tech world. It connects riders with drivers, eaters with delivery services, and shippers with freight carriers across 70 countries. In 2023, Uber celebrated significant victories, with Gross Bookings soaring by 22% and revenues up by 15%. It also reported a net income of $1.4 billion, thanks partly to a $1 billion boost from equity revaluations. Setting a record, Uber's Adjusted EBITDA climbed to $1.3 billion, proving it knows how to grow profitably. Dominating the US ride-hailing scene with a 67% market share, its revenue streams from ridesharing and food delivery signal a diverse and robust foundation. Analysts are buzzing about 2024, forecasting earnings to jump by 36.9% and revenue by 15.8% as Uber's delivery service speeds ahead.
Uber’s FINQ rank
Uber last ranked outside the top 10 on February 20, 2024, with a ranking of 12 and scores of 93/100 in Professional Wisdom, 66/100 in Crowd Wisdom, and 33/100 in Fundamentals. Now, with its number 7 ranking, it scores 97/100 in Professional Wisdom, 90/100 in Crowd Wisdom, and 33/100 in Fundamentals.
8. Take-Two Interactive Software Inc. (TTWO)
Take-Two Interactive Software, the powerhouse behind Rockstar Games, 2K, Private Division, and Zynga, creates some of the most interactive entertainment and high-quality console and mobile games for a global audience. Despite facing a net loss of $91.6 million in Q3 2024, the company shows signs of recovery from the prior year's $153.4 million loss. While net bookings dipped slightly to $1.34 billion from $1.38 billion, Take-Two's financial structure, highlighted by a current ratio of 0.82 and a modest Debt/Equity ratio of 0.41, hints at underlying resilience. Looking ahead, the company is poised for a revenue rally, anticipating net bookings to vault past $8 billion in fiscal 2025. Analysts are optimistic, forecasting earnings and revenue growth rates of 83.9% and 13.2% per annum, respectively.
Take-Two’s FINQ rank
TTWO has hovered in and out of the top 10 over the last few weeks and ranked as low as 241 on May 12, 2023. To put it in context, when TTWO was ranked this low, it scored 67/100 in Professional Wisdom, 26/100 in Crowd Wisdom, and 100/100 in Fundamentals. Now ranked in the top 10 at position 8, it scores 95/100 in Professional Wisdom, 58/100 in Crowd Wisdom, and 100/100 in Fundamentals.
Meta's bet on AI, including developing the Artemis AI chip and strategic board enhancements, signals a deep dive into generative AI poised to revolutionize advertising revenue.
9. Meta Platforms Inc. (META)
Coming in at the 9th spot, Meta Platforms shines with its tech prowess and vast user network, boasting 3 billion monthly users. The tech behemoth, once known as Facebook, recorded a dazzling $134.90 billion in revenue for 2023, with Q4 alone bringing in $40.11 billion, smashing estimates. Its Q4 profits rocketed by 203%, showcasing significant financial strength with a free cash flow of $44 billion and cash reserves hitting $65.4 billion, comfortably outpacing its $18.4 billion debt. Meta's bet on AI, including developing the Artemis AI chip and strategic board enhancements, signals a deep dive into generative AI poised to revolutionize advertising revenue. With analysts eyeing a 13% revenue jump to $151 billion in 2024 and earnings potentially climbing to $17.40, up 21%, Meta's trajectory looks stellar.
Meta's FINQ rank
Before META entered FINQFIRST's top 10, it was ranked 12 on July 24, 2023, with scores of 99/100 in Professional Wisdom, 58/100 in Crowd Wisdom, and 0/100 in Fundamentals. Today, META has a 99/100 Professional Wisdom score, 50/100 Crowd Wisdom score, and 33/100 Fundamentals score.
10. McDonald’s Corporation (MCD)
McDonald's comes in at 10, solidifying its status in the fast-food realm with standout performance metrics. In 2023, the Golden Arches saw a 9% jump in global sales and boasted systemwide loyalty sales topping $20 billion, pushing consolidated revenues up by 10% and operating income by a whopping 24%. With EPS rising to $2.80, up 8%, it's clear why it’s the 54th most valuable global company. Owning over 42,000 stores in 115 markets further highlights its massive footprint and brand power. Analysts are bullish on the stock, especially with McDonald’s ambitious growth plans to hit 50,000 restaurants by 2027.
McDonalds' FINQ rank
MCD was ranked outside of FINQFIRST's top 10 as recently as February 15, 2024, with a 12 ranking and scores of 92/100 in Professional Wisdom, 60/100 in Crowd Wisdom, and 100/100 in Fundamentals. Today, MCD scores 96/100 in Professional Wisdom, 48/100 in Crowd Wisdom, and 100/100 in Fundamentals. On March 5, 2024, they were ranked in 1st position. Their drop in Crowd Wisdom from 60/100 to 48/100 and Professional Wisdom from 99/100 to 96/100 has resulted in this drop.
Final words
Diving into the stock market doesn't have to be a leap in the dark; with FINQ, it's like having a map where X marks the spot of hidden treasures. Backed by AI-driven insights that translate complex market data into actionable intelligence, there's transparency, tangible insights, and easy-to-follow rankings updated daily. With FINQ's tech magic, your decisions rest on rock-solid data, lighting the way to success. So take the leap, and make sure your moves are informed, rooted in reality, and data-driven. You might even surprise yourself as your investment game changes for the better.
