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Follow on Google News | Buy this cheap stock before everyone else does!It's tempting to assume the worst when it comes to the financial behemoth JPMorgan Chase & Co. (JPM).
While the major bank and its shareholders have reason to be concerned, this does not mean that investors should avoid JPM. This company is currently too cheap to pass up at less than 10 times trailing earnings, regardless of what the near future holds. With $2.6 trillion worth of domestic assets under its umbrella, JPMorgan Chase is the biggest bank in the U.S. It has broad exposure to the consumer, corporate and investment banking markets, as well as a respectable amount of exposure to the wealth-management industry. That diverse mix of profit centres wasn't enough to prevent its recent stock price rout. Investors are simply too worried about what may happen to its businesses and those concerns are not completely without merit. According to data provided by EY, the number of completed initial public offerings declined 37% year over year in the first quarter and the total amount raised fell by 51%. Meanwhile, according to the Mortgage Bankers Association, mortgage applications declined by 8% last week compared to the prior week. When the refinancing market is taken into account, mortgage applications are nearly half of what they were a year ago, falling to levels not seen since 2018. There's more to a business than just numbers. When the metrics for an established blue chip like JPM appears to be so wonderful because investors are more afraid than they should be, those numbers may be used to support a bullish argument. Whatever the case may be, you should consider investing in JPM sooner rather than later, since market downturn is forcing more investors to switch from growth companies to dividend payers like JPM. For more latest news in US Stock Market you may also visit us at Sonoma International Limited through our website https://sonomainternationalltd.com/ End
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