The big surprise this week was Home Depot Inc.’s (HD) earnings.
Tuesday, August 18th Dow component HD posted its strongest quarterly sales growth in over 19 years. For Q2 2020 revenue rose 23% to $38 billion. Last year in the same period, the company posted revenue of $30 billion. This year over year beat is what most Wealthy Investors dream of.
Moreover, sales from the company’s online platforms were up about double for the quarter as more consumers shopped at home due to Covid 19.
Over the last 52 weeks HD shares have risen from about $140 per share to over $290 per share.
At this point I recommend HD as a good long-term date.
Hold these shares for the next two to five years and you will reap the benefits of a higher account value.
Tyrone Jackson, The Wealthy Investor
