2 stocks likely to reach $200 billion market cap in June 2024

Core Viewpoint - The stock market is primarily in the green zone, with technology stocks leading the way, and smaller stocks showing potential for growth driven by strong fundamentals [1] Group 1: Alibaba - Alibaba has shown resilience and growth potential despite regulatory challenges and market volatility, with its core businesses in e-commerce and cloud computing continuing to expand [2] - The company is on track to reach a $200 billion market cap, with its stock recovering as regulatory pressures ease and consumer confidence improves post-pandemic [2][5] - Alibaba's recent quarterly earnings showed a revenue growth of 6.6%, although net income fell by 4% compared to analyst estimates [3] - The stock was valued at $81.26, reflecting a nearly 9% gain in 2024, indicating investor confidence in its long-term outlook [3] Group 2: Accenture - Accenture is positioned as a leader in digital transformation, despite underperforming compared to competitors recently, and is also aiming for a $200 billion market cap [6] - Guggenheim analysts have given Accenture a "buy" rating, projecting a potential upside of nearly 30% to $395 from its current valuation [6] - The company reported quarterly earnings of $2.77 per share, exceeding the consensus estimate of $2.66, and revenue of $15.80 billion, slightly below analyst expectations [7] - Accenture's current market cap is $189.2 billion, requiring a 5.6% increase to reach the $200 billion mark [9]