Blue chip stocks are a type of investment that refers to stocks that are from large and well-established companies. These companies have a history of riding out market fluctuations and maintaining steady growth. As a result, blue chip stocks are often considered to be a safer investment than stocks from smaller or less established companies.
For example, some of the most well-known blue chip stocks include Apple (NASDAQ: AAPL), Coca-Cola (NYSE: KO), and IBM (NYSE: IBM). While there is no guarantee that any stock will always maintain its value, blue chip stocks tend to be more stable than other types of investments. As a result, they can be a good choice for investors who are looking for long-term growth. Considering this, here are two trending blue chip stocks to watch in the stock market today.
Blue Chip Stocks To Watch Now
1. Nike (NKE Stock)
Nike Inc. (NKE) is one of the most well-known sports brands in the world. In brief, Nike designs develop, and manufacture a wide range of sports equipment, including shoes, shirts, balls, and more. Nike also sponsors many professional athletes, including some of the biggest names in basketball, football, and other sports.
NKE Recent Stock News
Late last month, Nike announced its Q1 2023 financial results. Diving in, the company posted 1st quarter 2023 earnings of $0.93 per share, and revenue of $12.7 billion. This is compared with analysts’ consensus earnings estimate of $0.91 per share along with revenue of $12.3 billion for the first quarter of 2023. What’s more, the company reported a 3.6% increase in revenue on a year-over-year basis.
Meanwhile, during Nike’s conference call, the company said they now project fiscal 2023 revenue of approximately $47.18 billion to $49.75 billion. For contest, this is a lower outlook than what Nike previously announced for full-year 2023 revenue of approximately $51.38 billion.
John Donahoe, President and CEO, NIKE, Inc. “Our competitive advantages, including the strength of our brand, deep consumer connections and pipeline of innovative product, continue to prove that our strategy is working. We expect our unrelenting focus on better serving the consumer to continue to fuel growth and create value like only NIKE can.“
NKE Stock Chart
On Friday afternoon, shares of Nike stock are trading up by 2.56% at $92.85 per share.
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2. Target Corporation (TGT Stock)
Target Corporation (TGT) is an American retail giant that offers a wide range of products, from groceries to clothing to electronics. Moreover, Target is known for its competitive prices, and its slogan “Expect More. Pay Less.” is often used to attract shoppers. Target operates more than 1,800 stores across the United States, and it also has an online presence.
TGT Recent Stock News
On Wednesday of this week, Target announced that they will be expanding their relationship with cosnsumer retail giant Apple. In detail, Target will be more than tripling its Apple at Target locations, with more than than 150 locations. Additionally, Target Circle members will now have access to a 4-month free trial of Apple Fitness+, as well as other special offers for Apple products.
Furthermore, Jill Sando, EVP and chief merchandising officer, at Target commented, “For years, Target has been a destination for Apple products. Now we are excited to deepen our collaboration with Apple so even more guests can access the exceptional Apple at Target shop-in-shop experience. Through Target Circle, our popular free-to-join loyalty program, we’re also giving our guests the opportunity to try services like Apple Fitness+ for free, and with no purchase required.“
TGT Stock Chart
During Friday’s lunch time trading session, shares of Target stock are down modestly by 0.19% on the day, trading at $166.77 a share.
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