3 Meme Stocks That Might Actually Ride Out the Storm

Meme Stocks Overview - Meme stocks are publicly listed companies that gain traction due to increased interest among retail traders on social media platforms like Reddit [1] - These stocks often attract attention through speculative discussions about their price performance [1] Super Micro Computer (SMCI) - SMCI develops and manufactures high-performance server and storage solutions, benefiting from the AI boom [2] - The stock surged due to high demand for bandwidth driven by generative AI but lost nearly 40% in the trailing month due to global monetary policy shifts and tech sector volatility [2] - Shares are trading at 2.05X sales, significantly lower than the prior year's average of 3.16X and the first quarter's peak of 6.23X [3] - Analysts project revenue growth to $26.51 billion in 2024, a 77.4% increase from $14.94 billion in 2023 [3] PayPal (PYPL) - PayPal specializes in digital payments and offers business management solutions, making it a key player in the fintech space [5] - The gig economy, valued at $355 billion in 2021, is expected to grow to $1.86 trillion by 2031, with a CAGR of 16.18%, benefiting PayPal [5] - Shares trade at 2.2X trailing-year revenue, below the past year's average of 2.32X, and analysts project 14.8% revenue growth to $31.94 billion in fiscal 2024 [6] Intel (INTC) - Intel is considered one of the riskiest meme stocks due to its disappointing Q2 2024 earnings, with EPS of 2 cents missing the expected 10 cents and revenue of $12.83 billion falling short of the $12.92 billion consensus [7] - Compared to Q2 2023, Intel's performance declined significantly, with EPS dropping from 13 cents to 2 cents and revenue decreasing from $12.95 billion to $12.83 billion [7] - INTC stock is down 44% in the trailing month, though the decline slowed to 4.5% in the past five sessions [8] - Analysts anticipate a down year in sales growth for fiscal 2024, but the most optimistic projections for fiscal 2025 target revenue of $60.49 billion, up from $54.23 billion in 2023 [8]