Costco, Toast, and Apple: Stocks to Watch Amid Market Rally

Investors are eyeing three soaring stocks—Costco, Toast, and Apple. With Costco's membership growth and Toast's revenue increase, plus Apple's innovative iPhone launch, continued upward movement seems promising according to a recent report.

Date: 05-10-2024

AI Rating: 7

Costco Wholesale (NASDAQ: COST)

Costco has shown robust growth, boasting 76.2 million paid memberships, which is a 7.3% year-over-year increase. The company is set to open 26 new stores, with half of them overseas, indicating strong international growth potential.

Analysts predict a top-line growth of over 7% for this fiscal year and a similar growth next year, reinforcing a positive outlook for Costco's earnings growth despite its current high stock price.

Toast (NYSE: TOST)

Toast is capitalizing on the restaurant industry's complexities with its integrated software, now utilized by 120,000 restaurants. The company reported a remarkable 27% increase in top-line growth during the last quarter and is projected to achieve profitability in 2025. This rapid growth trajectory can further bolster its stock value.

Apple (NASDAQ: AAPL)

Apple's recent record high stock price is driven by the launch of the iPhone 16, which incorporates generative AI capabilities. The anticipated long-term demand for generative AI smartphones points towards significant upside potential for Apple, especially regarding service revenue, which holds higher profit margins compared to hardware.

Overall, all three companies exhibit strong growth prospects, making them attractive options for investors looking at high-performing stocks amidst a soaring market.

Stocks: COST TOST AAPL