Fri. Jun 14th, 2024
Why Adding This Computer and Technology Stock to Your Portfolio Could be a Smart Move

Investing in the stock market can be overwhelming for beginners, but a smart strategy to start with is to look for companies that are expected to outperform the market in the next year. One such company that stands out is Microsoft (MSFT).

Microsoft is a dominant player in the technology industry, with over 73% market share for desktop operating systems. Since being added to the Zacks Focus List on February 1, 2016 at $55.09 per share, MSFT’s stock price has increased by an impressive 667.58% to $422.86. Analysts have revised their earnings estimates upwards for fiscal 2024, with the Zacks Consensus Estimate increasing to $11.63. On average, MSFT has exceeded earnings expectations by 8.8%.

With analysts predicting an 18.6% growth in earnings for the current fiscal year, investing in stocks like MSFT that have positive earnings outlooks can be very profitable. By buying a Focus List stock like MSFT, investors are likely investing in a company whose future earnings estimates will be raised, potentially leading to more price momentum.

If you want to receive more stock recommendations from Zacks Investment Research, you can download their free report “7 Best Stocks for the Next 30 Days” today

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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