The tech industry experienced a surge that is expected to continue booming with artificial intelligence (AI) advancement. But some sectors also recorded poor returns.
DISH Network Corp. has been the biggest loser so far in 2023 with a 54% drop in revenue, 3% shy of its 2022 results. Companies like The Home Depot Inc. registered low sales of big-ticket items as consumers focused on small projects.
There was a time when having shares in TV networks was a big deal. But that changed with all wireless and convenient competition springing up.
Legendary investor Warren Buffett once said, “Remember that the stock market is manic depressive.” But in a dynamic market heavily influenced by external factors, how do investors pick a thriving stock?
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Before you invest, remember these rules:
Here are three thriving stocks that would give you 10%-plus profit:
Amazon.com Inc. (NASDAQ:AMZN)
Leading tech company Amazon reported $134.4 billion in revenue in the second quarter and $143.1 billion in revenue in the third quarter, up 13% from last year. It also is in the top 6% stock price performers with the current price at $146.71.
Amazon has predicted sales between $160 billion and $167 billion in the fourth quarter.
Jeff Bezos, who stepped down as Amazon CEO in 2021, still has a 10% stake in the company. He released $240 million worth of stock last week. He may be selling more in weeks to come.
Amazon CEO Andy Jassy disclosed that the company will spend more on developing its generative AI technology in preparation for a bullish market.
“In our best estimation, the amount of growth we’re seeing and the absolute amount of generative AI business we’re seeing compares very favorably with anything else I’ve seen externally,” Jassy said.
Meta Platforms Inc. (NASDAQ:META)
Meta shares have increased by 134% after a 64% decline in 2022. This is coming after Meta CEO Mark Zuckerberg cut operating costs and increased AI investments. Zuckerberg laid off 21,000 employees, which was not part of his new agenda.
One of Meta’s strengths is the ability to monetize its platforms. At the end of the third quarter, Meta websites and applications recorded 3.96 billion monthly active users, a 7% increase from last year.
Meta platforms like Facebook, Instagram and WhatsApp will continue to deliver huge returns in years to come. So you can expect more than a 10% yield on investment.
Nvidia Corp. (NASDAQ:NVDA)
Nvidia, a Silicon Valley chipmaker, was the top performer this year, with its stock gaining more than 244%. Its IBD Composite Rating is 99.
Nvidia data center sales accounted for 76% of its total revenue in the second quarter — up 14% from the first quarter. These sales came from alliances with cloud marketing companies like Amazon. According to a report by Omdia, Nvidia had an 81% market share of AI chips used in cloud and data centers.
The Nvidia stock is in the top 1% of price performers in the last 12 months and it is the best buy for the booming AI market.
Since the surge in inflation and the global financial crisis, many dividend stock prices have taken a beating. Investors understand that stocks don’t always perform the way they want, so they often find other investments.
Some alternative investments can give you a 10% annual yield. For example, Knightscope Inc. is offering up to $10 million in bonds. Knightscope is leading the physical security market by combining five key technologies:
Autonomous technology
Robotics
Artificial intelligence
Electric vehicles
Telecommunications
In 2023, the security company had a revenue run rate in the range of $12 million to $14 million, a 106.6% increase from 2022’s $5.6 million. Knightscope bonds don’t have the volatility of stocks, and your 10% annual profit is paid in cash.
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This article 3 Stocks To Give You 10%-Plus Yield — One May Surprise You originally appeared on Benzinga.com
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