Blue chip stocks are high-quality, well-established companies with a long track record of stability, reliability, and strong financial performance. These stocks are often considered to be a safe investment. As they have a history of weathering economic downturns and consistently delivering returns to shareholders. What’s more, Blue chip stocks are typically characterized by; a strong brand, a large and diverse customer base, and a solid financial foundation. This includes a strong balance sheet and a consistent track record of paying dividends.
While blue chip stocks are generally considered to be a safe investment. It’s important to remember that no investment is completely risk-free. As with any investment, it’s important to carefully research and evaluate the risks and potential returns before making a decision. With that being said, here are three blue-chip stocks to keep an eye on in the stock market this week.
Blue Chip Stocks To Buy [Or Avoid] Right Now
- Microsoft Corporation (NASDAQ: MSFT)
- Johnson & Johnson (NYSE: JNJ)
- The Procter & Gamble Company (NYSE: PG)
Microsoft (MSFT Stock)
Microsoft (MSFT) is a technology giant that has a strong presence in the personal computer, software, and cloud computing markets. Its products, include Windows operating systems and Office productivity software. For a sense of scale, millions of people and businesses around the world use its products. The company has consistently delivered strong financial results, with revenue and earnings per share growing at a steady pace over the past decade. Microsoft also has a strong balance sheet, with plenty of cash on hand to fund future growth.
Back in October, Microsoft announced its 1st quarter 2023 financial and operating results. In detail, the company reported Q1 2023 earnings per share of $2.35 along with revenue of $50.1 billion. This was compared to Wall Street’s consensus estimates for Q1 2023 which were an EPS of $2.29 and revenue estimates of $50.1 billion. These revenue figures for the quarter represent a 10.6% increase on a year-over-year basis.
Moving along, over the last month of trading, shares of MSFT stock have recovered modestly by 1.44%. As of Friday’s closing bell, Microsoft stock is set to open this trading week at around $245.19 a share.
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Johnson & Johnson (JNJ Stock)
Next, Johnson & Johnson (JNJ) is a multinational healthcare company. The company sells a wide range of products, including prescription drugs, medical devices, and consumer health products. It has a long history of stability and strong financial performance. With a diverse range of products that allow it to weather economic downturns. The company also has a strong track record of paying dividends to shareholders. This could make it a potentially attractive investment for those looking for a steady stream of income.
This month, the company announced that it will release its fourth quarter 2022 financial and operating results on Tuesday, January 24th, 2023. For a quick refresher, during Q3 2022, JNJ reported earnings of $2.55 per share on revenue of $23.8 billion for the quarter.
Meanwhile, year-to-date shares of JNJ stock have increased by 2.41%, outperforming the overall markets so far this year. As we look ahead to Monday morning’s trading session, shares of JNJ stock are set to open at around $175.51 a share.
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Procter & Gamble (PG Stock)
Last but not least, Procter & Gamble (PG) is a consumer goods company. In brief, the company sells a wide range of products. Such as household cleaning products, personal care products, and over-the-counter healthcare products. Additionally, the company has a strong presence in many markets around the world. It is also a consistent dividend payer. This makes it a potentially good choice for those looking for a steady stream of income from their investments.
Back in October, the company announced better than expected 1st quarter 2023 financial results. In detail, PG reported Q1 2023 earnings of $1.57 per share along with revenue of $20.6 billion. Meanwhile, Wall Street’s consensus estimates for Q1 2023 were earnings of $1.55 per share on revenue of $20.6 billion.
Looking at the last six months of trading, shares of PG stock have recovered by 10.32%, though they are still down 7.65% year-to-date. Furthermore, looking ahead to Monday’s trading action, PG stock looks set to open the week at around $150.44 a share.
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