MarketBeat Week in Review Stock Report 3/4 – 3/8

The market rally continues as rumors of a soft landing heat up. February’s Jobs Report added fuel to these discussions, with the unemployment rate hitting 3.9%. Anything above 4%, which could be reached next month, would signal to the Federal Reserve that rate cuts can begin.

Another reason to believe in this rally is that money is starting to flow out of some of the Magnificent 7 stocks into other sectors. This broadening, especially if it begins to extend to small-cap stocks, is what many analysts have been waiting for.

However, if next week’s CPI and CPI data turn out to be positive, the rally could stall. The MarketBeat team will be tracking these numbers and the company’s earnings, which were mostly stronger than expected. Here are some of the most viewed articles this week.

Articles by Jea Yu

AI stocks are fomenting FOMO in the market. This is a time when investors need to be careful as many companies try to ride the wave of the trend Nvidia Corporation NASDAQ:NVDA. However, Jea Yu explains why you might want to consider it Pure Storage Inc. New York Stock Exchange: PSTGa company working with Nvidia to build emerging AI infrastructure.

Shares of companies that make weight-loss drugs are also fomenting some FOMO. As a different way to play that market, Jea Yu suggests looking at two packaged meat stocks positioned to capitalize on the drug-fueled carnivore diet craze like Ozempic.

And while gene editing stocks may not be in the FOMO phase yet, they could be soon. Beam Therapeutics Inc. NASDAQ: BEAM is a pioneering company in this space and surprised investors with a double quarterly earnings result, fueled, in part, by an agreement the company has in place with Eli Lilly and company NYSE: LLY.

Articles by Thomas Hughes

The Apple company. NASDAQ:AAPL has been less than magnificent in 2024. In addition to dampening iPhone sales in China, the tech giant gave investors more bad news this week when it announced it was backing away from plans for its own autonomous vehicle. Thomas Hughes explains why the AAPL stock story is about innovation outside of the Apple Car. This lack of innovation is why Hughes believes the stock could fall further.

Membership clubs have been among the best investments in a challenging retail environment. Their business model commits consumers to paying a membership fee, which helps them retain a higher share of their members’ wallets. As Hughes writes, you can keep chasing Costco Wholesale Corp. NASDAQ: COST higher. However, a better option may be to buy one of three home club stocks that may retreat as the sector loses momentum.

And as earnings season comes to a close, investors often look for stocks that analysts are improving. Hughes has combed through MarketBeat’s list of most up-to-date stocks to bring you this list of three stocks that have gotten the most analyst upgrades over the past 90 days.

Articles by Sam Quirke

Sam Quirke often writes about the technology sector. This week, he looked at two of the Magnificent 7 stocks that he thinks still look like solid investments. Alphabet Inc. NASDAQ:GOOGL has had a disappointing performance recently, but Quirke shows that analysts take a long-term view and that investors should consider doing so as well.

In case of Microsoft Corp. NASDAQ:MSFTQuirke notes that the pullback is more of a consolidation and that analysts are already bidding on the stock, including one analyst who has a $500 price target on MSFT shares.

And even though you may not be familiar with Paymentus Holdings, inc. NYSE: PAY, Quirke notes that you might want to start paying attention. The $2.5 billion fintech company just released a great earnings report that sent the stock into overbought territory. However, Quirke explains why investors should welcome a pullback as an opportunity to get into this emerging financial stock company.

Articles by Chris Markoch

Palantir Technologies Inc. NYSE:PLTR moved sharply this week after the company won a contract with the U.S. Army. Chris Markoch wrote about the details of the deal and whether it should influence your decision to buy or hold PLTR stock.

Markoch also wrote about a stock that moved sharply in the opposite direction. UnitedHealth Group Inc. NYSE: UNH is rocked by a recent cyberattack and the announcement that the company is the subject of a Department of Justice (DOJ) investigation. However, investors need to decide for themselves whether this is a buyable dip or if UNH stock is a knife down.

And whether you like Cathie Wood or not, the stocks she buys move the markets. So you might be interested in knowing why Wood sold her fund’s NVDA shares to buy shares UiPath Inc. NYSE: PATH.

Articles by Kate Stalter

This week, Kate Stalter reminded investors to keep it simple by following the advice to buy low and sell high. The first half of this axiom means buying stocks that appear undervalued. This means that companies are trading below their intrinsic value based on underlying fundamentals. Stalter wrote about five undervalued stocks that have recently generated strong earnings results.

On the other hand, Stalter also identified five stocks that appear overvalued. As Stalter explains, long-term investors can choose to hold these stocks if they like the long-term fundamentals. However, traders may want to take the opportunity to sell these stocks and look for better opportunities.

Restaurant stocks performed surprisingly well despite sticky inflation. One of the best in the business is the Mediterranean restaurant chain Quarry Group Inc. NYSE: QUARRY. The stock has risen 60.96% in the last three months and could continue to run.

Articles by Ryan Hasson

Let’s say you’re a speculative investor looking for a way to invest in AI stocks. If so, you’ll want to read Ryan Hasson’s article on five under-the-radar AI stocks that are likely to heat up as risk sentiment returns to the market.

Another group of stocks that risk-tolerant investors may want to consider buying are those stocks that have unusually high short interest. As Hasson explains, this can create a situation where even a small upward move could trigger a short covering cycle that traders can take advantage of.

And if you’re still reluctant to chase Nvidia as it approaches $900 per share, investors looking for tech stocks in the chip sector should consider Advanced Micro Devices Inc. NASDAQ:AMD. The company provides AI chips that are a worthy competitor to Nvidia, which will be bullish for AMD stock price.

Articles by Gabriel Osorio-Mazilli

Like many MarketBeat analysts, Gabriel Osorio-Mazilli also helped guide investors looking for alternatives to NVDA stock. This week he focused on Broadcom Inc. NASDAQ: AVGO, trading at a 30% discount to Nvidia. Analysts are starting to raise the stock in the belief that it can start generating Nvidia-like growth.

Investors looking to take a different approach to generating profits outside of AI can consider oil stocks. This week, Osorio-Mazilli explains why the price of oil will almost certainly rise and why that makes three particular oil stocks good values.

And if you’re looking for stocks that could benefit from an interest rate cut, Osorio-Mazilli explains why you might want to consider Foot Locker Inc. NYSE:FL. The stock trades at a significant discount to the retail sector, setting the stage for a strong recovery.

Before you consider NVIDIA, you’ll want to hear this.

MarketBeat tracks Wall Street’s highest-rated and best-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market takes hold… and NVIDIA wasn’t on the list.

While NVIDIA currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View the five stocks here