We recently compiled a list of the 12 NASDAQ Stocks with Biggest Upside Potential According to Analysts. In this article, we are going to take a look at where VEON Ltd. (NASDAQ:VEON) stands against the other NASDAQ stocks.
Potomac Wealth Advisors president Mark Avallone joined CNBC’s ‘The Exchange’ on November 16 to discuss where he sees investing opportunities following Trump’s election. He believes investing in the tech sector makes the most sense given the implications of the 2024 election results for the financial markets. He noted that the election has shifted the underlying dynamics affecting businesses, particularly regarding regulation and taxation. The new administration has changed the previous climate of heightened regulation and discussions around increasing capital gains and corporate taxes. Avallone believes that the potential for reduced regulation and lower taxes on corporations could create a more favorable environment for business growth.
He emphasized that corporate America’s ability to deliver earnings will be crucial, relying on continued efficiencies and advancements in technology. This perspective supports his thesis that investing in technology remains a sound strategy for investors. When discussing specific stocks, Avallone highlighted major tech companies from the MAG7 as particularly attractive. He expressed confidence that the current administration would foster a more supportive environment for these companies, allowing them to thrive.
Avallone also touched on the defense sector, which has historically benefited from global conflicts. He pointed out that defense companies have shown resilience and believes that ongoing global tensions will sustain demand for defense stocks, providing a hedge against market volatility.
However, Avallone expressed caution regarding the healthcare sector, which has been lagging due to heavy regulation and political scrutiny. He noted that despite an aging population driving demand for medical equipment, regulatory pressures have hindered growth in this area. Overall, his analysis underscores a cautious optimism about investing in technology and defense while highlighting potential challenges within healthcare as businesses navigate the post-election landscape.
Methodology
We sifted through Finviz to compile a list of 30 NASDAQ stocks with high upside potentials. We then selected the 12 stocks with the biggest upside potential according to analysts. The stocks are ranked in ascending order of their analysts’ upside potential.
A businessperson in the boardroom discussing mobile internet plans.
VEON Ltd. (NASDAQ:VEON)
Average Upside Potential as of November 21: 102.38%
VEON Ltd. (NASDAQ:VEON) is a multinational telecommunication and digital services company, providing a range of connectivity and internet services in several countries. It offers mobile and fixed-line telecommunications, as well as various digital services including financial technology and entertainment platforms. It’s committed to enhancing digital infrastructure in its markets and has recently focused on expanding its offerings through partnerships and innovative solutions.
The company is significantly focused on AI as part of its strategy to enhance customer experiences and drive business growth. Through its AI1440 framework, it aims to integrate AI into daily life, developing local language models to support under-resourced languages in its markets, such as Urdu in Pakistan. it employs augmented intelligence to personalize services and improve customer interactions, while also using AI for data analytics to support local businesses, like optimizing retail experiences in Uzbekistan.
VEON Ltd. (NASDAQ:VEON) recently launched Hambi, an AI-powered super app in Uzbekistan. This all-in-one platform offers services like e-health, car insurance, digital marketplaces, travel, entertainment, fintech, and gaming. Hambi aims to provide a seamless user experience and personalized recommendations through AI-powered features. This launch aligns with the company’s Digital Operator 1440 strategy, which focuses on delivering essential digital services to customers.
With a focus on AI-powered initiatives like Hambi, it is well-positioned to capitalize on the growing demand for digital services in its markets.
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Disclosure: None. This article is originally published at Insider Monkey.
