Quest Capital HK - Tesla Rivals Lead 9 Stocks Expecting Strong Earnings Growth Next Year

Intense stock market momentum may be sparked by optimistic forecasts for future profits.
QUARRY BAY, Hong Kong - July 17, 2023 - PRLog -- Competitors Li Auto (LI) and BYD (BYDDF) to Nvidia (NVDA) and Tesla (TSLA) are forecasted to increase their profits per share by at least 30% between the current fiscal year and the next.

Array Technologies (ARRY), Digital Ocean (DOCN), Li Auto (LI), Shift4Payments (FOUR), Shoals Technologies (SHLS), and Xpel (XPEL) are among more companies that participate.

Stocks With Strong Earnings Expectations

Company  -  Ticker   -  Expected EPS growth this year  -  Expected EPS growth next fiscal year

Aehr Test Systems
   -   AEHR  =  51%  -   77%

Array Technologies   -   ARRY  =  126%  -   44%

BYD    -  BYDDF  =  45%  -  31%

Digital Ocean   -  DOCN  =  82%  -  33%

Li Auto   -  LI  =  4000%  - 131%

Nvidia   -  NVDA   = 108% -   39%

Shift4Payments   -  FOUR =  62%  -  33%

Shoals Technologies  -  SHLS  =   53%  -  59%

Xpel   -  XPEL =  51%  -  30%

Many of this year's market leaders are predicted to generate average or decreasing profitability in 2023, despite strong growth expectations for 2024. Earnings at Tesla, for example, are expected to dip 17% in 2023 before rising 43% the following year. Others are expected to make significant earnings this year but just moderate improvements in 2024.  However, these nine companies are expected to enjoy excellent, if not outstanding, EPS growth through 2024.

The artificial intelligence boom is being led by Nvidia stock. DOCN shares has lately risen in response to an AI-related purchase. BYD and LI stock are part of the EV revolution, and Aehr Test Systems has a strong presence in the EV chip area. Xpel is a well-known car components brand. ARRY stock and Shoals are two solar bets, while Shift4Payments is a component of the resurrected payments industry.

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