In the vast world of stocks, blue-chip stocks are like the all-stars. Imagine the biggest, most dependable companies that come to mind; those are likely your blue chips. These companies have stood the test of time, proving their value and reliability in both good times and bad. They’re the go-to names that often pop up in conversations about stable investments, known for their steady performance and longevity.
Why do investors love them? Well, blue-chip stocks offer a kind of safety net. These businesses typically grow at a steady pace, and a lot of them return value to shareholders through dividends. That’s like getting a small thank-you bonus just for holding onto their stock. For those just dipping their toes into the stock market or those who sleep better knowing their investments are a bit safer, blue chips are often the first stop.
However, it’s essential to remember that no investment is entirely free from risk, not even blue chips. While they’re stable, many blue chips have shown consistent growth over the years. Still, external factors, unforeseen global events, or shifts in market dynamics can impact their performance. Hence, as with all investments, it’s crucial to do thorough research before diving in. Considering this, here are two blue chip stocks to watch in the stock market right now.
Blue Chip Stocks To Watch Now
- Tesla Inc. (NASDAQ: TSLA)
- Netflix Inc. (NASDAQ: NFLX)
Tesla (TSLA Stock)
To begin, Tesla Inc. (TSLA) is a prominent player in the electric vehicle (EV) industry. The company not only focuses on automobiles but also on clean energy solutions, including solar products and energy storage systems.
Earlier this month, Tesla announced their production and delivery numbers for the third quarter of 2023. The company produced over 430,000 vehicles and completed deliveries for approximately 435,000 vehicles. Notably, a decrease in these figures was attributed to planned factory downtimes intended for upgrades. Furthermore, the company will report its financial results for the third quarter will be released today, Wednesday after the stock market close.
In the last six months of trading, shares of Telsa stock have risen by 34.92%. Meanwhile, during Wednesday morning’s trading session, TSLA stock is trading lower on the day thus far by 2.38% at $248.78 a share.
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Netflix (NFLX Stock)
Next, Netflix Inc. (NFLX) is a leading company in the streaming entertainment sector. Transitioning from its initial model of DVD rentals, Netflix has become a major player in online streaming, producing and distributing a diverse range of original films, series, and documentaries to a global audience.
Last month, Netflix announced when it will report its Q3 2023 financial results. The company plans to unveil these results along with a business outlook on its official investor relations website today, Wednesday, after the U.S. stock market close. For a brief recap, last quarter Netflix reported earnings earnings of $3.29 per share along with revenue revenue of $8.19 billion for Q2 2023.
Looking at the past six months of trading, Netflix stock has advanced by 5.36%. Moreover, during Wednesday’s mid-morning trading session, shares of NFLX stock are trading lower by 1.23% so far, at $351.71 a share.
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