It’s impossible to focus on just one company that will profit on Black Friday. So, let’s check out who’s set to benefit the most and see if there are any good deals investors could potentially add to their portfolio.
Black Friday Stocks
Amazon (NASDAQ: AMZN) has lagged the S&P so far in 2021 but it is still one of the top destinations for shoppers every year. Even though brick-and-mortar will likely see a rebound — since there was a 52% decrease in in-store foot traffic in 2020, for obvious reasons. That being said, COVID-19 cases spiking could play a role in this year’s buying frenzy as people opt to stay at home to avoid crowds, and can comfortably compare prices right from their phone or laptop.
Another likely winner is Apple (NASDAQ: AAPL), which, in a recent product launch, announced its new Macbook Pro, HomePod Mini, and the new version of one of the top-selling items in 2020, AirPods. During China’s 11/11 (Single’s Day or China’s Black Friday equivalent), Apple products were noted as top-selling items across the board and were one of the 400 brands that achieved over $15 million in sales, and that was just on the Alibaba platform. So expect Apple to report big numbers in Q4.
Last year, beauty products were one of the best performing categories, showing sales growth of 46% and 47% on Black Friday and Cyber Monday, respectively. Ulta Beauty (NYSE: ULTA) is a top pick in this sector with double-digit revenue growth and 1,296 retail stores in 50 states.
Another stock set to benefit is PayPal (NASDAQ: PYPL), the Fintech payments and banking platform. Despite beating earnings estimates in its last four consecutive quarters, it’s down over 21% in the last month alone and is now sitting at a 52-week low of approx $189 per share.
Maybe a little Black Friday deal of its own?
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Financial Writer at MyWallSt
David's favorite stock is Google. He's a daily user of its YouTube platform, where you can learn or find something brand new at the touch of a button. He believes the company will continue to grow for many years to come.