George Soros, the seasoned billionaire known for his audacious bet against the British pound in the early ’90s, remains influential in the investment world. With a track record that spans decades, Soros’s talent for identifying standout investments is legendary. As we approach 2024, the anticipation around George Soros stocks intensifies, with investors worldwide keen to extract insights from one of the financial world’s most astute strategists.
Moreover, transitioning from its origins as a hedge fund to its current structure as a family office, Soros Fund Management has undeniably maintained its top-tier stature. Since its inception in 1970, it has demonstrated remarkable consistency, impressively averaging a 20% annual return over its five-decade trajectory.
Furthermore, just as names like Ray Dalio and Ken Griffin reverberate in the corridors of investment prestige, George Soros’ choices invariably command attention. So, when Soros makes a move, the financial world sits up and takes notice. Consequently, let’s delve into three stocks currently enjoying the favor of this investment icon.
George Soros, with his discerning investment eye, has confidently parked 769K shares in the e-commerce behemoth Amazon (NASDAQ:AMZN), valued at an impressive $100.25 million. That accounts for a notable 2.18% of his portfolio. Recently, Amazon took center stage with its Prime Day sales event on October 10 and 11. Riding this momentum, the company has rolled out an ambitious hiring plan to welcome 250,000 new workers worldwide.
Moreover, Adobe (NASDAQ:ADBE) projects online holiday sales to soar to $221.8 billion, marking a 4.8% increment year-over-year. Interestingly, about half of this digital expenditure is expected to course through mobile devices. Corroborating this bullish sentiment, Deloitte forecasts e-commerce growth between 10.3% and 12.8%.
Financially, Amazon continues its impressive streak. Reporting an earnings per share of 94 cents, it eclipsed the expected 60 cents. Its revenue, too, surpassed projections, hitting $143.1 billion against an anticipated $141.5 billion. Given such a flourishing e-commerce environment, Amazon shines in Soros’ portfolio.
Alphabet (GOOG, GOOGL)
Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), the parent company of Google, is not just any multinational company — it’s a technology behemoth offering indispensable services, notably Google Cloud, to a global clientele. George Soros holds an imposing 1.42 million shares in the tech titan. With a valuation of an eye-catching $170.46 million, this stake constitutes a robust 3.71% of his expansive portfolio.
As of now, GOOGL trades at a price-to-earnings ratio of 23.82. Given its appealing valuation combined with its stellar earnings trajectory — from $13.91 billion in net income in the third quarter of 2022 to a whopping $19.69 billion in the third quarter of 2023 — the company is poised for continued success. Moreover, with the global search engine market forecasted to grow at a CAGR of 11.0% through 2031, prospects appear luminous.
Furthermore, collaborating with industry giants, Google is developing Tensors and custom chips, with Redondo set for a 2025 release. Considering the company’s dynamic outlook, Soros’s decision to include Alphabet in his portfolio cements his renowned investment acumen.
Nike (NYSE:NKE), with its longstanding history, has firmly dominated the global apparel and footwear market, securing its place as a household name. It’s no wonder that George Soros has made room for 211.72K Nike shares in his portfolio, with an impressive valuation of $23.37 million, constituting 0.51% of his total holdings.
Moreover, following its recent financial update at September’s close, Nike witnessed a notable surge in stock value. The company’s share price leaped about 10% shortly after the report and continued its ascent. While the reported revenue showed a 2% increase to $12.94 billion, slightly below the analysts’ expectations of $13.5 billion, the earnings per share clocked in at a solid 94 cents, comfortably exceeding the anticipated 76 cents. Additionally, Nike confidently reaffirmed its fiscal second quarter and annual guidance.
Furthermore, TipRanks analysts give NKE a nod as a Moderate Buy, suggesting a potential 15% upside. This, paired with Soros’s strategic inclusion, underscores the brand’s promising outlook.
On the date of publication, Muslim Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.