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3 Blue Chip Stocks To Watch In The Stock Market Today

3 Blue Chip Stocks To Watch In The Stock Market Today

Posted August 24, 2023 at 10:15 am
Josh Dylan

Blue chip stocks to check out in the stock market today.

Blue-chip stocks refer to shares in well-established companies known for their long history of stable earnings, robust financial health, and a reliable track record of performance. These companies, often leaders in their respective industries, have gained significant market capitalization over the years and are frequently recognized for their ability to weather economic downturns. Their enduring presence in the market and consistent dividend payouts have garnered them a reputation for being safe and reliable investments.

For investors, allocating funds to blue-chip stocks can be an essential strategy for wealth preservation and steady growth. Such stocks tend to offer a more predictable return on investment due to their history of stability and are particularly appealing to those seeking both capital appreciation and regular dividend income.

Moreover, blue-chip stocks act as a buffer during market volatility, making them a favored choice for risk-averse investors aiming for long-term financial goals. Investing in blue-chip stocks or the funds that track them can potentially provide a foundation for a well-diversified investment portfolio. Taking this into account, here are three blue chip stocks to keep an eye on in the stock market today.

Blue Chip Stocks To Consider Right Now

American Express Company (AXP Stock)

To begin, American Express Company (AXP) is a globally recognized financial services corporation. The company is known for its vast array of credit card, charge card, and traveler’s cheque offerings. Today AXP has evolved to become an essential player in the world of finance, emphasizing luxury, and service.

In July, American Express reported a beat for its second quarter of 2023 financial results. In detail, the company notched in earnings of $2.89 per share, with revenue of $15.05 billion for Q2 2023. This was compared to consensus estimates which were earnings of $2.80 per share and revenue of $15.47 billion. Additionally, revenue increased by 12.39% versus the same period, the prior year.

In 2023 so far, shares of AXP stock have advanced by 8.46% year-to-date. Meanwhile, during Wednesday’s morning trading session, American Express’s stock is trading slightly higher by 0.31% at $159.57 a share.

American Express stock

Source: TD Ameritrade TOS

Apple (AAPL Stock)

Second, Apple Inc. (AAPL) stands as a global powerhouse in the technology sector, known primarily for its innovative products such as the iPhone, iPad, and Mac computers. Apple has transformed the tech landscape with its emphasis on design, functionality, and user experience, making it one of the most valuable companies in the world.

Earlier this month, Apple announced its third quarter of 2023 financial results. Diving in, the tech giant reported a beat posting earnings of $1.26 per share and revenue of $81.80 billion. This is versus analysts’ consensus estimates for the quarter which were an EPS of $1.19 and revenue of $72.81 billion.

Year-to-date, shares of Apple stock have increased by 43.81% thus far. Moreover, on Wednesday morning, AAPL stock is trading up by 1.49% at $179.87 per share.

Apple (AAPL Stock)

Source: TD Ameritrade TOS

McDonald’s Corp (MCD Stock)

Finally, McDonald’s Corporation (MCD) stands as a global dining establishment. Boasting more than 36,000 franchises across over 100 nations. McDonald’s serves a variety of foods which include burgers, fries, desserts, shakes, and coffee.

Late last month, McDonald’s announced better-than-expected Q2 2023 earnings results. Getting straight to it, the company reported earnings per share of $3.17 and revenue of $6.50 billion for Q2 2023. This is versus Wall Street’s consensus estimates which were earnings of $2.77 per share, along with revenue estimates of $6.23 billion. Additionally, revenue increased by 13.62% compared to the same period, the previous year.

Year-to-date, shares of MCD stock have grown by 6.72% so far. During Wednesday’s mid-morning trading session, McDonald’s stock is trading modestly higher by 0.64% at $282.09 per share.

Mcdonalds stock chart

Source: TD Ameritrade TOS

Originally Posted August 23, 2023 – 3 Blue Chip Stocks To Watch In The Stock Market Today

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