Jim Cramer Says Buy The AmEx Dip Citing Love From Millennial And Gen Z Members — Younger Customers Will Stick With The 'Company For Decades'
Portfolio Pulse from Benzinga Neuro
Jim Cramer recommends buying American Express (AXP) shares despite a recent dip, citing strong earnings, credit quality, and appeal to younger customers. The company reported a significant earnings beat but missed revenue estimates, leading to a stock price drop. Cramer believes Wall Street underestimates AXP's long-term growth potential.
October 22, 2024 | 1:38 am
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NEUTRAL IMPACT
UBS Group AG sold its 50% stake in Swisscard to American Express, making AXP the sole owner. This transaction is part of AXP's strategic moves but has a minor direct impact on UBS.
The sale of UBS's stake in Swisscard to AXP is a strategic move for AXP but has limited direct impact on UBS's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
American Express experienced a stock price dip after a mixed earnings report, with a revenue miss but a significant earnings beat. Jim Cramer recommends buying the dip, citing strong long-term growth potential and appeal to younger customers.
The stock price of AXP fell due to a revenue miss, but the earnings beat and strong appeal to younger customers suggest potential for long-term growth. Cramer's recommendation to buy the dip could lead to positive short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100