JPMorgan Chase & Co. (JPM): Why This Mega-cap Stock Could Continue Surging Post 52-week Highs

We recently compiled a list of the 10 Mega-Cap Stocks That Could Continue Surging Post 52-Week Highs. In this article, we are going to take a look at where JPMorgan Chase & Co. (NYSE:JPM) stands against the other mega-cap stocks.

The US stock markets have gone up leading up to the day of President Donald Trump’s inauguration. All the major indices are set to continue their optimism from last week, when the Dow, the S&P, and the Nasdaq all reported gains of over 3.7%.

Even though the S&P had hardly moved from its early November levels when the election happened, many mega-cap stocks continue to register 52-week highs. We looked at some of these stocks and why they are expected to continue surging up with the earnings season already underway.

To come up with our list of 10 mega-cap stocks that could continue surging post 52-week highs, we only considered stocks that have recently hit their 52-week highs and have a market cap of at least $150 billion.

A group of business people discussing plans around a boardroom table adorned with a financial services company logo.

JPMorgan Chase & Co. (NYSE:JPM)

JPMorgan Chase and Co. is a global financial services provider. It operates in asset & wealth management, consumer and community banking, and commercial & investment banking segments. The bank has shown a strong upward trend in the previous year with a gain of 55%.

The reason for this optimism is the company’s recently announced Q4 performance. It exceeded the expected revenue for Q4 by $1.21 billion. Additionally, GAAP EPS was also higher ($4.81) than expected ($4.10). The Fixed-Income, Currency, and Commodities (FICC) trading Outperformed this quarter, clocking in at $5.01 billion, surpassing the expected $4.37 billion mark.

The bank’s book value per share was up 11% while tangible book value per share was up 13% y/y.  The net interest income of the bank was down 3% as compared to the previous year, but it still managed to exceed estimates. The strong performance of the company as well as continuous gain in the stock’s price for the whole year continues to deliver strong results for investors.

Overall JPM ranks 1st on our list of the mega-cap stocks that could continue surging post 52-week highs. While we acknowledge the potential of JPM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as JPM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article was originally published at Insider Monkey.