Consumer discretionary stocks refer to companies that offer non-essential products and services that are desired by consumers. These types of stocks can be more volatile than others because consumer spending can change rapidly based on economic conditions and shifts in consumer preferences. Examples of consumer discretionary firms include retailers, restaurants, and media and entertainment companies.
When evaluating consumer discretionary stocks, it’s important to consider the company’s financial health and the current economic climate and consumer sentiment. Strong economic conditions and high consumer confidence can lead to increased demand for non-essential products and services, which can boost consumer discretionary companies and their stock prices.
Consumer discretionary stocks can be risky but also offer potential rewards for investors. It’s essential to thoroughly research specific companies and industries and diversify your portfolio to mitigate risk. If you’re interested in investing in the consumer discretionary sector in 2023, here are three stocks to watch in the coming weeks.
Top Consumer Discretionary Stocks to Keep an Eye On
Amazon.com Inc. (AMZN) Stock
Amazon.com, Inc. (AMZN) is a global technology company that offers e-commerce, cloud computing, and artificial intelligence services. Amazon is a leading online retailer and also operates a marketplace for third-party sellers, offers cloud computing services through its Amazon Web Services division, and sells various consumer electronics and digital media through its subsidiaries.
Latest Updates on Amazon.com Inc. (AMZN) Stock
In December, Amazon Web Services (AWS) announced that Yahoo will use AWS as its preferred cloud provider for its advertising technology business, Yahoo Ad Tech. As part of its digital transformation strategy, Yahoo Ad Tech will migrate all of its advertising technology workloads, including media-buying and supply-side platforms, analytics, and identity solutions, from on-premises data centers to AWS. This move aims to reduce IT infrastructure costs and improve advertising business operations, while also allowing Yahoo to develop more tailored and immersive solutions to help brands connect with their audiences.
Amazon.com Inc. (AMZN) Stock Technical Analysis:
Home Depot Inc. (HD) Stock
The Home Depot Inc. (HD) is a home improvement retailer that offers a range of building materials, home improvement products, and lawn and garden products. The company operates stores in the United States, Canada, and Mexico and also has an e-commerce platform.
Latest Updates on Home Depot Inc. (HD) Stock
Last Thursday, The Home Depot announced an expansion of its Pro Xtra loyalty program for professional contractors and builders. The expansion includes the introduction of three new membership tiers: Member, Elite, and VIP. Each tier offers a range of benefits, including specialized perks, business tools, exclusive sales and events, paint rewards, and more. As customers spend more money, they will be able to unlock additional perks, such as a dedicated support line and preferred pricing. Additional benefits for all tiers will be released throughout the year. The Pro Xtra program is designed to help contractors and builders manage and grow their businesses and access exclusive offers from The Home Depot.
Home Depot Inc. (HD) Stock Technical Analysis:
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