The two hated stocks that could make a comeback in 2024 – London Business News | Londonlovesbusiness.com

Since many investors set out to make money by investing in stocks, it is unsurprising that they would abandon an unprofitable stock in favour of one that is.

That has been the reality of many stocks recently, especially since many industries are experiencing a boom. However, it might be too early to write off some of these forgotten and otherwise hated stocks.

• Many stocks fall out of favour due to reasons like unprofitability and volatility. However, there are some that should not be written off entirely.
• Intel is a giant in the tech industry whose products have contributed massively to its growth and development, especially in areas like cloud computing and IoT.
• As one of the earliest providers of online payroll and human resources software, Paycom has become an extremely profitable company.

The likes of tech, growth and banking stocks dominated the first half of the year thanks to their immense profitability, and the general feeling is that this will be the case even in the second half of the year. However, investors could find an edge in the market by investing in some forgotten and otherwise hated stocks, particularly the ones on the verge of recovery.

Joel Lim, a financial analyst at Tradequotex.com, has identified two hated stocks that could make a comeback this July.

Intel

Intel is an American technology company based in Santa Clara, California. It specializes in designing and manufacturing computer components, such as central processing units (CPUs), processor chips and semiconductors, and other computer-related products for businesses and consumer markets.

The last few years have been tough for Intel, no thanks to market share losses to Advanced Micro Devices, another computer processor and semiconductor manufacturer. Furthermore, the company’s pivot to a foundry has not gone according to plan, causing investors to lose confidence in its profitability.

However, anyone counting Intel out is in for a rude awakening. The rise in AI and AI-powered technologies will increase the demand for semiconductors and microprocessors, an industry that Intel dominates.

Additionally, the company has several impressive products in the pipeline that will surely generate massive revenue. These include Granite Rapids, a new mainline server CPU; Lunar Lake, an advanced laptop CPU; and Arrow Lake, an advanced desktop CPU.

Joel Lim notes, “Intel has a stacked lineup of products on the way and a growing foundry business that makes it an ideal investment option in July.”

Paycom

Paycom is an American online payroll and human resources service provider based in Oklahoma City, Oklahoma. As one of the first fully online payroll service providers, Paycom has a first-mover advantage and controls most of the market. Hundreds of companies across the globe utilize Paycom’s products and services.

With the introduction of the Beti service, Paycom’s hold on the market will only grow stronger. The Beti service allows employees to handle their own payroll, allowing HR departments and personnel to focus on more critical tasks.

Joel Lim notes, “Paycom is already quite profitable, but the introduction of the Beti service will surely increase that profitability. Investing in the stock this July could yield massive returns.”