We recently published 10 Stocks On Jim Cramer’s Radar As He Says Trump Has Been Good For Growth. American Express Company (NYSE:AXP) is one of the stocks Jim Cramer recently discussed.
American Express Company (NYSE:AXP) is one of the largest travel services providers and payment platforms in the US. Its shares have gained 4% year-to-date as the firm has struggled with consistent reports of weak consumer spending. In his previous comments about American Express Company (NYSE:AXP), Cramer has maintained that not only does the firm have a solid portfolio of cards that resonate with younger shoppers, but also that consumer strength in America is stronger than believed. His recent remarks discussed American Express Company (NYSE:AXP)’s earnings report:
“And when they report, the stock always gets hit. So, look this is the hardest problem. Goldman Sachs had downgraded, the stock was up seven. And it’s like, uh, darnnit, I don’t want any fluff going into the quarter. Every one of these had fluff going into the quarter. So we’re all kind of, except for Citi.
“But American Express would be down ahead of, on the quarter. . .this is a good opportunity for American Express stock to go down so Steve Squeiri can actually say things so the stock won’t get hit”.
A close-up view of a payment terminal, capturing the sophistication of a payment network.
Earlier, the CNBC TV host discussed American Express Company (NYSE:AXP)’s earnings and what viewers should do ahead of the results:
“Then on Friday, there’s American Express, which is another stock that tends to sell off when it reports, no matter how good the numbers are. That’s why I always tell you to wait until the selling subsides if you want in this time… I don’t know what they’re thinking about, the sellers… They’ve been wrong for 150 points. Look at that stock. Listen to the call.
This company has a unique beloved product that young people cherish. What’s not to like? Steve Squeri, CEO, one of the great ones, well, he’ll have a terrific call and he will, you know what, he will tell us about why American Express card has now become not a product of a different era, our parents’ era, but a product of everyone. Everyone wants the thing. It’s prized. That stock’s going higher.”
While we acknowledge the risk and potential of AXP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AXP and that has 10,000% upside potential, check out our report about this cheapest AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
Hedge Fund Resource Center