Bank of America Corp
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Financials : Banks | Large Cap ValueCompany profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Price
Delayed
$29.29
Day's Change
0.2995 (1.03%)
Bid
--
Ask
--
B/A Size
--
Day's High
29.46
Day's Low
28.71
Volume
(Average)

Today's volume of 75,453,953 shares is on pace to be in-line with BAC's 10-day average volume of 83,450,522 shares.

75,453,953

UPDATE: These big tech stocks may rise at least 30%, analysts predict

7:02 am ET November 14, 2018 (MarketWatch)
Print

By Philip van Doorn, MarketWatch

A pullback in technology stocks may be your buying opportunity

Large-cap technology stocks have been hit hard. But analysts expect many to come roaring back. Let's get to those names. First, let's put the recent action into perspective.

The Dow Jones Industrial Average has fallen 3.8% since the end of September (with dividends reinvested), but is up 4.7% this year through Nov. 12. The S&P 500 is down 6.3% since the end of September, but up 3.7% this year.

Here's how the 11 sectors of the S&P 500 Index have performed through Nov. 12, with dividends reinvested, sorted by worst to best from Sept. 28:

From Sept. 28 2018 3 years 5 years 10 years

Energy -11.4% -4.8% 11% -9% 79%

Information Technology -10.5% 8.0% 69% 131% 513%

Industrials -9.4% -5.0% 36% 55% 284%

Consumer Discretionary -9.2% 9.5% 40% 83% 577%

Communications Services -7.9% N/A N/A N/A N/A

Materials -6.7% -9.2% 31% 36% 215%

Health Care -3.6% 12.4% 39% 87% 342%

Financials -3.6% -3.5% 44% 74% 218%

Real Estate 1.7% 3.4% 24% 62% 318%

Utilities 4.1% 6.9% 43% 70% 197%

Consumer Staples 4.8% 1.3% 28% 52% 225%

S&P 500 Index -6.3% 3.7% 42% 71% 296%

Source: FactSet

The new S&P 500 communications-services sector was created by S&P Dow Jones Indices in September (http://www.marketwatch.com/story/a-new-sp-500-sector-is-set-to-debut-heres-what-investors-need-to-know-2018-09-24).

The energy sector has fared worst since the end of September, as the price of West Texas Intermediate crude oil (WTI) has declined 18% since then. The technology sector has been the second-worst performer, with a 10.5% decline. However, the sector is still up 8% for 2018, ranking third behind the health-care and consumer-discretionary sectors.

Rising interest rates, political uncertainty (Italy's status within the European Union (http://www.marketwatch.com/story/investors-need-to-watch-these-dates-in-italys-looming-budget-showdown-2018-10-19) and the expected near-term announcement of Special Counsel Robert Mueller's findings from his investigation (http://www.marketwatch.com/story/mueller-ready-to-issue-findings-after-election-saudis-are-biggest-funding-source-for-us-startups-2018-10-17) into allegations of collusion between Russia and President Trump's 2016 campaign) and economic uncertainty (inflation (http://www.marketwatch.com/story/election-over-investors-are-back-on-inflation-watch-and-feeling-a-little-spooked-2018-11-10) and the trade war with China (http://www.marketwatch.com/story/us-china-resume-high-level-trade-talks-ahead-of-trump-xi-meeting-2018-11-12)) may all be weighing on the market. But if you look at the long-term returns on the chart above and are not especially worried about the economy, you might still believe the tech sector is a good place for your money and that the recent drop presents a buying opportunity.

Using data as of the close on Oct. 29, we listed all stocks in the S&P 500 information-technology sector and showed how much their forward price-to-earnings ratios had changed from the end of September (http://www.marketwatch.com/story/technology-stock-valuations-are-returning-to-earth-2018-10-30) (the sector was up slightly from Oct. 29 through Nov. 12).

There are 66 stocks in the S&P 500 information technology sector, but we can bring that number to 75 if we include Amazon.com (AMZN), both share classes of Google holding company Alphabet (GOOGL) (GOOGL), Facebook (FB), Netflix (NFLX), Twitter (TWTR) and the three video-game developers.

Among these 75 tech stocks, analysts have majority "buy" ratings on 47.

Here's a list of the 20 S&P 500 tech stocks with majority "buy" ratings from sell-side analysts and 12-month upside potential of at least 30%, based on consensus price targets:

Company Ticker Share 'buy' ratings Share neutral ratings Share 'sell' ratings Closing price - Nov. 12 Consensus price target Consensus price target Total return - Sep. 28 through Nov. 12

Amazon.com Inc. US:AMZN 98% 2% 0% $1,636.85 $2,175.15 33% -18%

Alphabet Inc. Class A US:GOOGL 93% 7% 0% $1,049.36 $1,360.82 30% -13%

Alphabet Inc. Class C US:GOOG 93% 7% 0% $1,038.63 $1,361.09 31% -13%

salesforce.com Inc. US:CRM 91% 9% 0% $130.50 $174.00 33% -18%

Facebook Inc. Class A US:FB 85% 13% 2% $141.55 $192.33 36% -14%

Microchip Technology Inc. US:MCHP 82% 18% 0% $69.66 $98.61 42% -12%

TE Connectivity Ltd. US:TEL 82% 18% 0% $76.66 $99.53 30% -13%

Electronic Arts Inc. US:EA 80% 20% 0% $87.66 $125.08 43% -27%

Broadcom Inc. US:AVGO 80% 20% 0% $223.63 $291.00 30% -9%

Take-Two Interactive Software Inc. US:TTWO 76% 24% 0% $109.03 $144.70 33% -21%

KLA-Tencor Corp. US:KLAC 75% 25% 0% $92.29 $121.14 31% -9%

Activision Blizzard Inc. US:ATVI 69% 31% 0% $53.89 $74.35 38% -35%

Nvidia Corp. US:NVDA 68% 29% 3% $189.54 $285.94 51% -33%

DXC Technology Co. US:DXC 67% 33% 0% $62.01 $88.80 43% -34%

Netflix Inc. US:NFLX 66% 32% 2% $294.07 $406.70 38% -21%

Micron Technology Inc. US:MU 65% 35% 0% $37.44 $66.23 77% -17%

Applied Materials Inc. US:AMAT 65% 35% 0% $32.62 $56.42 73% -16%

Lam Research Corp. US:LRCX 64% 36% 0% $142.91 $195.65 37% -6%

Skyworks Solutions Inc. US:SWKS 61% 36% 3% $72.84 $99.04 36% -20%

IPG Photonics Corp. US:IPGP 60% 40% 0% $129.11 $180.88 40% -17%

Source: FactSet

Don't miss: These S&P 500 companies increased quarterly sales the most while expanding margins (http://www.marketwatch.com/story/these-sp-500-companies-increased-quarterly-sales-the-most-while-expanding-margins-2018-11-12)

Create an email alert for Philip van Doorn's Deep Dive columns here (http://www.marketwatch.com/tools/alerts/newsColumn.asp).

-Philip van Doorn; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 14, 2018 07:02 ET (12:02 GMT)

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