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Top Stock Picks for Week of June 3, 2024

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The Goldman Sachs Group, Inc. (GS - Free Report) is a leading global financial holding company providing IB, securities, investment management and consumer banking services to a diversified client base. Shares of Goldman have outperformed the industry in the past six months. Its better-than-expected first-quarter 2024 results benefited from the strength in the consumer banking and investment banking (IB) businesses, along with improved fee income. The company intends to refocus on the core strengths of IB and trading businesses. Improvement in global deal-making and underwriting activities and Goldman’s leading position are likely to drive IB fees. We expect IB revenues to grow 17.8% year over year in 2024. Goldman has a solid balance sheet position. GS presents a compelling investment opportunity; it's not only an attractive dividend play, but the stock also boasts a strong Zacks Rank of #1 (Strong Buy).   

NVIDIA Corporation (NVDA - Free Report) is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. NVIDIA is benefiting from the strong growth of artificial intelligence (AI), high-performance and accelerated computing. The data center end-market business is benefiting from the growing demand for generative AI and large language models using graphic processing units (GPUs) based on NVIDIA Hopper and Ampere architectures. A surge in hyperscale demand and higher sell-ins to partners across the Gaming and ProViz end markets following the normalization of channel inventory are acting as tailwinds. Collaborations with Mercedes-Benz and Audi are likely to advance its presence in the autonomous vehicles and other automotive electronics space. Shares of the company have outperformed the industry over the past year. NVIDIA boasts a sturdy cash-flow generating ability. NVIDIA’s robust product lineup, market leadership in AI and continuous innovation make it a compelling investment opportunity.  


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