American Express hits record high after earnings; ProPicks strategy soars on news
Investing.com — Shares of American Express (NYSE:AXP) surged over 7% on Friday, reaching an all-time high. This rise came after the credit card company surpassed full-year profit expectations, even though it fell short of its Q4 EPS and revenue projections.
Bolstering investor confidence, American Express provided an optimistic profit outlook for 2024, underpinned by expectations that its affluent customer base will maintain spending levels despite higher interest rates.
For the upcoming year, the credit card giant anticipates annual EPS to be between $12.65 and $13.15, exceeding the consensus estimates of $12.40.
In its Q4 earnings report, American Express disclosed an EPS of $2.62, slightly below the analyst prediction of $2.64. The company's revenue for the quarter was reported at $15.8 billion, compared to the anticipated $16B.
American Express' extraordinary performance was seen in advance by our flagship AI-powered stock-picking toll: ProPicks. The company has been an integral part of our Dominate the Dow strategy since December 2023.
This strategy, powered by advanced AI technology, focuses on identifying 10 standouts from stocks in the Dow Jones Industrial Average most likely to outperform the market. Dominate the Dow strategy outperformed the market by a lofty 429.7% over the last decade.
In fact, if you had joined ProPicks in December, you would have scored a 16% gain on American Express alone.
And this is just one of the picks within our impressive selection of 70+ stocks divided among our six market-beating strategies. The real secret behind our outperformance lies in the strength of our curated list of winners — and not just on single picks.
For investors looking to capitalize on such market opportunities,
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