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The IRS on Tuesday unveiled more details about Direct File, the agency’s free electronic tax filing pilot program.
Starting in 2024, Arizona, California, Massachusetts and New York will integrate state tax filings into the pilot program.
Taxpayers from Alaska, Florida, New Hampshire, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming may also be eligible.
The pilot program will initially focus on “relatively simple returns” and not all filers from these states will qualify.

IRS Commissioner Danny Werfel speaks at a Senate Finance Committee hearing in Washington, D.C., on April 19, 2023.
Al Drago | Bloomberg | Getty Images

The IRS on Tuesday unveiled more details about its direct filing pilot program launching for the 2024 tax season.
Known as Direct File, the pilot will allow certain taxpayers to electronically file federal tax returns for free directly through the IRS, the agency told reporters on a press call.

Starting in 2024, Arizona, California, Massachusetts and New York will integrate state tax filings into the pilot program. Taxpayers from Alaska, Florida, New Hampshire, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming may also be eligible.
An IRS official estimates “at least several hundred thousand taxpayers across the country” will have the option to participate in the 2024 pilot program.
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“In this limited pilot for 2024, we will be working closely with the states that have agreed to participate in an important test run of the state integration,” IRS Commissioner Danny Werfel said. “This will help us gather important information about the future direction of the Direct File program.”
After filing federal returns through Direct File, the software will direct taxpayers to state-sponsored tools to complete separate state filings. For 2024, this integration will only include participating states.

Who is eligible for IRS Direct File in 2024

“To ensure a good experience for taxpayers, the pilot will launch in phases,” Laurel Blatchford, chief implementation officer for the Inflation Reduction Act at the U.S. Department of the Treasury said.
For 2024, the pilot will focus on individual filers with “relatively simple returns,” but not all taxpayers will qualify. The IRS expects the program to include Form W-2 earnings, Social Security income, unemployment income and interest of $1,500 or less. More

Increasingly, it’s the choice of college major and type of degree that most affects your earnings potential.
Here are the areas of study that pay the most, according to a new analysis by the U.S. Census Bureau.

Between the sky-high overall cost and hefty student loan tab, more students and their families are reconsidering the value of a college education.
But ultimately, it’s the choice of major and type of degree that most affects your return on investment.

Students who pursue a degree specifically in computer science, electrical engineering, mechanical engineering or economics — mostly STEM disciplines — earn the most overall, according to a new analysis of bachelor’s degrees and median earnings by the U.S. Census Bureau.

Workers in those fields have an annual income of $100,000 or more, the report found. 
Alternatively, those with degrees in education, elementary education, fine arts, family and consumer sciences and social work had annual earnings of less than $60,000.

Gender wage gaps persist in top-earning fields

Yet, wage gaps persist across the board.
In all cases, men earn more than women, the Census Bureau found. For example, women with computer science degrees earned $91,990, while men earned $115,500. Among economics degree holders, women earned $84,750 while men earned $107,300. 

“This career inequity begins immediately when women enter the workforce and continues at every juncture,” said Stefanie O’Connell Rodriguez, host of the “Money Confidential” podcast.

Consider the return on your academic investment

Ultimately, getting a college degree typically pays, studies show.
Bachelor’s degree holders generally earn 75% more than those with just a high school diploma, according to The College Payoff, a report from the Georgetown University Center on Education and the Workforce.
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However, it’s important to consider your area of study before taking out student loans to pay for college, said Robert Franek, editor in chief of The Princeton Review.
“Just as a rule of thumb, students shouldn’t take on more debt than they expect to earn their first year after graduation,” he said.
At the very least, that “forces the conversation of what is going to be the real return on my academic investment.”Don’t miss these CNBC PRO stories:

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The third-quarter average monthly payment on a new vehicle was a record $736, up from $733 in the second quarter, according to Edmunds.
The annual percentage rate on car loans also jumped in the third quarter, according to Edmunds.
“What really is driving these prices is less inventory than before,” said Jessica Caldwell, Edmunds’ head of insights.

Adam Gault | OJO Images | Getty Images

Prices keep creeping higher for shoppers in the market for a new or used vehicle.
Car prices and interest rates are higher, pushing up costs for drivers. Yet, pent-up demand has kept cars moving off lots, experts say, meaning dealers don’t have much reason to offer discounts.

“What really is driving these prices is less inventory than before,” said Jessica Caldwell, Edmunds’ head of insights. “Consumers are not getting necessarily the massive discounts they once were.”
The annual percentage rate on car loans jumped in the third quarter, according to Edmunds. The APR on loans for new vehicles rose to 7.4% and for used vehicles, to 11.2%, both levels last seen during the Great Recession.
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Rising rates contributed to higher costs. The third-quarter average monthly payment on a new vehicle was a record $736, up from $733 in the second quarter, according to Edmunds. For used cars, the average monthly payment slightly lowered to $567 from $569.
The auto market is still experiencing pent-up demand from drivers who had delayed buying new vehicles in 2020 but are now shopping around despite high costs.

“We’re getting to a point where people just can’t delay [purchases] any longer. They’re getting back into the market,” said Caldwell.

Fewer discounts, cars available

It’s still too soon to tell whether the ongoing United Auto Workers strike is affecting car prices, said Caldwell. Moreover, the strike might only affect a relatively small number of vehicles when compared to the auto market as a whole.
Car shoppers are instead seeing the effects of a low-inventory, high-demand market, leaving little to no room for discounts, experts say.
Historically, new model year vehicles would come into a dealer’s lot by the end of the summer to replace older inventory. At that point, dealers had motivation to offer discounts on leftover older models.

However, this year, “there are no leftovers,” said Tom McParland, regarding vehicles that serve the average consumer. McParland is a contributing writer for automotive website Jalopnik and operator of vehicle-buying service Automatch Consulting.
“There’s really no such thing as a leftover 2023 Sienna Hybrid because these cars are selling six to nine months before they even arrive at the dealership,” he added.
Car shoppers hardly saw similar end-of-summer sales last year either because of a chip shortage that reduced production levels, added Caldwell. The shortage of semiconductors during the Covid-19 pandemic led to a significant drop in produced vehicles, costing the auto industry billions in revenue.
For cars targeted to the average consumer, such as sedans, crossovers and hybrids, deals are hard to come by because of high demand and slow production, said McParland. On the other hand, there are leftover deals for luxury electric vehicles because those cars have been sitting around, he added. 

It’s ‘a great time to look into the EV market’

However, there are some exceptions. Shoppers may see more inventory for different vehicles. EV availability was well above the industry average at the start of October as product availability and EV production rapidly increased, according to auto industry service provider Kelley Blue Book.
This leaves room for deals in a high-inventory market, said McParland.
“It is absolutely a great time to look into the EV market, both for new and pre-owned,” he said.
Additionally, recurring price cuts from Tesla this year might also soften prices in the EV market as a whole, added Caldwell.
The average price paid for an EV was $50,683 in September, down from $52,212 in August and down from more than $65,000 one year ago, according to Kelley Blue Book.
Pre-owned electric vehicles are more likely to go for a price under $25,000, which would qualify the car shopper for an additional federal tax credit of $4,000.
However, drivers shopping for a pre-owned vehicle should keep in mind that while EVs don’t have as many parts as gas-powered cars, it remains difficult to predict how long their rechargeable batteries will last.
EVs from five years ago or 2018 “weren’t as good,” said Caldwell, especially when looking at ranges and charging efficiency.

Shopping tips for a low-inventory car market

Overall, prices for cars at large are unlikely to drop significantly in the future. The technology that is being built into vehicles will further drive prices up “as we go towards electrification and autonomous technology,” added Caldwell.
“Those technologies are pricey.”
If you are currently in the market for a new or used car, do your research before heading to the dealership to make the best decision. Here are three tips:

Get preapproval for an auto loan. Dealerships don’t always offer the most competitive financing. Shop for financing at your personal bank and other local financial institutions and credit unions online to see what type of loans and interest rates you can get, said Caldwell.
Shop for both new and used car. Expand your research to increase the probability of finding good deals that work for your budget. If you weren’t a used car shopper before, looking into certified pre-owned vehicles can help bring you peace of mind, said Caldwell.
Research trade-in values. If you’re trading in a vehicle, get quotes from different sources and dealers and try various appraisal features. “Definitely shop around and make sure you’re not leaving that money on the table,” she said.

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Young individuals are “buckling down” when it comes to spending, a Bank of America executive said, following a new Gen Z-focused survey by the firm.
While that is a savvy move, Gen Zers would also be wise to take several steps to prepare for their futures, experts say.

Martin-dm | E+ | Getty Images

Gen Zers are cutting back on spending.
More than half, 53%, say a high cost of living is a barrier to their financial success, according to a new survey from Bank America.

Nearly 3 in 4 young adults surveyed, 73%, have changed their spending habits amid record-high inflation.
“Many of them are buckling down,” said AJ Barkley, head of neighborhood and community lending at Bank of America, calling the results “good news.”
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Among the changes they are making include cooking at home more frequently, with 43%; spending less on clothes, 40%; and limiting grocery shopping to essentials, 33%.
Most plan to keep up those changes in the next year, according to the firm’s August survey of almost 1,200 young adults ages 18 to 26.

Gen Z faces unique financial challenges

Yet, more than a third of young Gen Zers have also faced setbacks in the past year, the survey found, which may have led them to stop saving or take on more debt.
Gen Z faces unique financial challenges compared to older generations. College graduates earn 10% less compared to their parents, recent research found.

High inflation — and affordability concerns among Gen Zers — extend beyond U.S. borders. A Deloitte survey released earlier this year that included about 14,500 members of Gen Z in 44 countries found living paycheck to paycheck was a concern cited by about half of that generation, with 51%; followed by needing to take on a side job, 46%; and cost of living, 35%.

‘This is really the time to build a solid foundation’

But there is good news, according to Bank of America’s research. Most respondents feel confident they can manage their day-to-day expenses, budget and credit. Yet, they show less confidence when it comes to saving for retirement or investing in the stock market, the results found.
“This is really the time to build a solid foundation that is going to allow you to be successful throughout the many next decades of your financial life,” said Douglas Boneparth, a certified financial planner and president of Bone Fide Wealth in New York. Boneparth is also a member of the CNBC Financial Advisor Council.
Experts say these three tips can help members of Gen Z learn to manage their money wisely.

1. Make saving a habit

Ute Grabowsky | Photothek | Getty Images

More than half of Gen Z, 56%, do not have enough emergency savings to cover three months’ worth of expenses, Bank of America’s survey found.
It’s a good idea to sock away any extra cash you can, said Boneparth, and to think about what’s important to you to stay motivated.
“Get in the habit of being a consistent saver,” Boneparth said.
Having that cash cushion set aside can help you continue to pursue your goals, even as life throws surprises your way. “It’s never a straight line,” Boneparth said.

2. Start investing for retirement now

While retirement may seem like a far-off goal, especially in the early years of your career, it’s actually when you have your biggest advantage to accumulate wealth, according to Barkley.
Any money you invest now will have more time to accumulate gains that compound over time.
“They should be thinking about retirement now,” Barkley said.

To get started, an employer-provided 401(k) may help with those initial contributions and may even include an extra boost from a company match, if offered.
Young investors may also open an individual retirement account on their own. Experts often recommend making post-tax contributions to a Roth IRA early on, as you may be prohibited from contributing to those accounts later in your career when your income is higher.

3. Resist the urge to give into FOMO

Gen Z women are more apt to feel pressured to spend to keep up with their social circles, Bank of America found.
Social media is a big driver of those feelings, with 41% of women Gen Zers saying their feeds make them wish they had more money for nonessential spending, versus just 24% of men.
All Gen Zers would be wise to avoid that FOMO, according to Ted Jenkin, a CFP and CEO of oXYGen Financial in Atlanta. Jenkin is also a member of the CNBC FA Council.
“Your friends are not posting their net worth on Instagram and TikTok, so be wary that people may not be doing as well as they appear on social media,” Jenkin said.
It also doesn’t hurt to avoid credit card debt and to check your credit score regularly, Jenkin said. More

Employees report that building savings for an emergency and paying monthly bills are just as stressful as — if not more stressful than — saving enough for retirement, according to a new workplace survey.
Passage of the Secure 2.0 legislation last year gives employers more flexibility in their benefit plans.
Companies are looking at financial wellness benefits more holistically, with some offering emergency savings and student loan repayment plans.

Traditional retirement plans aren’t enough

For years, employers’ financial benefits mostly focused on offering robust workplace retirement plans.
Yet, when asked where they would put an extra $600 provided by an employer, workers in the EBRI survey said they would spread it out — putting $192 toward funding retirement, $171 to emergency savings and $89 toward a health savings account, followed by paid time off, college savings and paying down college debt.  

Workplace emergency savings plans are popular

JGI/Jamie Grill | Getty Images

About 42% of employees want to be automatically enrolled in an emergency savings account through their employer, according to research from the Bipartisan Policy Center. However, just 10% of employers offered these benefits in 2022, according to human resources consulting firm Buck.
Yet those numbers may increase as employers recognize the upsides for the worker and the workplace.
“When you do need that money for an emergency, you’re not taking a withdrawal from your 401(k) plan, you’re not missing a student loan payment, you’re not getting evicted, you’re not having your water shut off, so that you can actually come to work without having to worry about all of that,” said Chantel Sheaks, vice president of retirement policy at the U.S. Chamber of Commerce. 

New law gives employers more benefits flexibility

The passage of Secure 2.0 legislation last year also gives employers more flexibility to offer emergency savings accounts.
Starting next year, as much as 3% of an employee’s paycheck can be automatically placed in an emergency savings account, up to a total of $2,500. Employees can then withdraw the money up to four times a year with no fees.

The law, which goes into effect in 2024, also includes provisions for matching 401(k) contributions based on employees’ student loan payments.
“Employers used to be all about just talking about the wage, and I would say they spend about equal time now talking about those other things that are keeping their employees from being productive,” said Amy Friedrich, president of benefits and protection with Principal Financial Group, which works with more than 145,000 small and midsized businesses across retirement and employee benefits. 
Many employers are also now meeting worker requests for financial planning resources, from credit card and other debt counseling to financial coaching, to help them establish a budget and financial plan. 
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Through dual enrollment, students can complete one to two years of college coursework by the time they finish high school.
That can take years off the cost of a bachelor’s degree, potentially cutting the tab in half, not to mention the student loan debt.
Nearly two-thirds of community college dual enrollment students nationally were from low- or middle-income families, according to a 2017 study from the Community College Research Center at Columbia University.

Dual enrollment is growing in popularity

More students are catching on, according to a recent report by the National Student Clearinghouse Research Center, which showed a 12.8% jump in dual enrollment since 2022.

At Post University’s High School Academy in Waterbury, Connecticut, the number of students enrolled has spiked since the program launched a little more than five years ago. Students take a mix of high school- and college-level courses, shortening the time it takes to complete a high school diploma and one to two years of college coursework.
“For every class you can take in high school, that’s one less class you are financing down the road,” said Chad McGuire, director of Post’s High School Academy.

Not all students in dual enrollment programs graduate high school with an associate’s degree, but most finish with at least one year of college credit, which gives them the option to enter college as a transfer student.
At least 35 states have policies that guarantee that students with an associate’s degree can transfer to a four-year state school as a junior.
“Dual enrollment is not new,” McGuire said. “But there’s more effort to make it accessible.”

They’re basically getting two years of college for free.

Martha Parham
senior vice president of public relations at the American Association of Community Colleges

Unlike Advanced Placement, another program in which high school students take courses and exams that could earn them college credit, dual enrollment is a state-run program that often works in partnership with a local community college.
These programs are not restricted to high school students on a specific, and often accelerated, academic track, as many AP classes are.
In fact, many of the programs were initially geared toward underrepresented students who were unlikely to consider college.

Where dual enrollment falls short

Nearly two-thirds of community college dual enrollment students nationally were from low- or middle-income families, according to a 2017 study from the Community College Research Center at Columbia University.
Of those students, 88% continued on to college after high school, and most earned a degree within six years.

However, to date, dual enrollment predominantly includes high-achieving, mainly white students who were likely already on the college track, according to new data from Columbia’s Community College Research Center.
While there is evidence that dual enrollment benefits students, students of color are underrepresented, the researchers said.
To reduce equity gaps, the authors suggest improved outreach to underserved students and families to increase awareness of dual enrollment and its effectiveness in increasing college-going and completion rates.
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Nearly a third of American adult workers say they would need $1 million to retire comfortably.
Brokerage firms such as Fidelity and T. Rowe provide benchmarks to help clarify the path to retirement.
You may be able to contribute to your retirement beyond your employer maximum to meet the IRS limit, CNBC FA Council member Marguerita Cheng said.

Peter Cade | Stone | Getty Images

Plenty of people feel like they are behind on their retirement savings. But what exactly does “behind” mean?
More than half, 56%, of American adults in the workforce say they are behind where they should be when it comes to saving for their retirement, including 37% who reported feeling “significantly behind,” according to a new Bankrate survey. Nearly a third say they would need $1 million or more to retire comfortably.

Here’s how experts say you can figure out if you’re actually behind — and what you can do to catch up.

Online tools can provide points of comparison

Adults may feel behind because they haven’t reached “these goals in their minds as either rules of thumbs or points of comparison” that they’ve set for themselves based on what they read online, said certified financial planner Lazetta Rainey Braxton, co-founder and co-CEO of virtual advisory firm 2050 Wealth Partners.
Braxton, a member of the CNBC Financial Advisor Council, pointed to the “numerous calculators” available online to help investors gauge how much they might need, factoring in both ongoing lifestyle expenses and those that may increase in retirement, such as medical costs. The latter can be significant: According to Fidelity, the average retired couple age 65 this year may need around $315,000 saved to cover health-care expenses in retirement.

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Here’s a look at more stories on how to manage, grow and protect your money for the years ahead.

Brokerage firms such as Fidelity and T. Rowe provide benchmarks to help clarify the path to retirement. The benchmarks provide different age milestones and a target for how much to save.
For example, according to Fidelity’s guide, you should aim to have twice your starting salary saved by the age of 35, and 10 times your starting salary by the age of 67. According to T. Rowe, you should have 1 to 1.5 times your current annual salary saved by age 35, and anywhere from 7 to 13.5 times your salary by age 65.

‘Specific information is better than no information’

Based on such measures, it’s no wonder people feel behind. People between 25 and 34 years old have an average 401(k) balance of $30,017, or a median $11,357, according to Vanguard’s How America Saves Report 2023. Even in the 55- to 64-year-old age group, the average and median balances are $207,874 and $71,168, respectively.
Comparing yourself against benchmarks might make adults near or in retirement stressed if they are told that they need an additional six-figure sum to retire, Christine Benz, director of personal finance and retirement planning at Morningstar, told CNBC.
“But I do think specific information is better than no information,” Benz said, of benchmarks.
Generation Xers and baby boomers reported feeling more behind on their retirement than anyone else in the Bankrate survey, with 51% of Gen Xers and 40% of boomers thinking they are “significantly behind.”

Bankrate senior industry analyst Ted Rossman said older adults feel more behind because if they have not yet retired, it is getting closer, and these workers are realizing “that they don’t have as much saved as they would like.”
People are also living longer on average, which means many workers are now needing to finance what could be a 30-year retirement. In that case, Rossman said a 4% withdrawal rate was a “safe bet.” If people believe they need between $1 million and $2 million to retire — as 13% said in the Bankrate survey — then a 4% withdrawal rate would equate to approximately $40,000 per year, he said.
“It doesn’t start to sound like quite as much and then it’s like, ‘Oh, wow, I might need more than $40,000 a year to live on,'” Rossman said. “So now that’s why you’re feeling behind.”

How to catch up on retirement savings

Oftentimes, looking at so many different places for savings guidance may only cause more anxiety, said CFP Marguerita Cheng, CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland.
Cheng — who is also a member of CNBC’s Financial Advisor Council — said that if your employer retirement plan sponsor’s website and multiple other tools indicate you are behind, the next best thing to do is to look at your contribution rates.
When people say they are maxing out on their retirement plan, they often mean they are maxing out in terms of their employer’s match, which usually hovers between 5% and 6%, Cheng noted.

However, you may be able to contribute more to your 401(k) to meet the annual maximum, she said. Workers can contribute up to $22,500 this year under the IRS’ 2023 limit. Those age 50 and older — who reported the most stress about their retirement — are eligible to contribute an additional $7,500.

While Bankrate found that this age group is also the least likely to know how much they need to retire, Rossman said people who don’t have quite as much time left should not be discouraged from getting started on or adding to their retirement savings.
For younger workers, early moves to start investing and boost contributions can help them stay on track. Gen Zers and millennials reported feeling the most ahead on their retirement savings, Bankrate found.
Rossman stressed that “every dollar” you save in your 20s or 30s counts since “time is on your side.” If young people start early and see gains compound by around 10% per year, their money could “double five times over 35 years,” he said.
“That’s a big difference.” More

An Amazon delivery truck at the Amazon facility in Poway, California, Nov. 16, 2022.
Sandy Huffaker | Reuters

Investors are confronting several headwinds, including macro uncertainty, a spike in energy prices and the unanticipated crisis in the Middle East.
Investors seeking a sense of direction can turn to analysts who identify companies that have lucrative long-term prospects and the ability to navigate near-term pressures. 

To that end, here are five stocks favored by Wall Street’s top analysts, according to TipRanks, a platform that ranks analysts based on their past performance.

Amazon

We begin this week’s list with e-commerce and cloud computing giant Amazon (AMZN). While the stock has outperformed the broader market year to date, it has declined from the highs seen in mid-September.
JPMorgan analyst Doug Anmuth noted the recent sell-off in AMZN stock and highlighted certain investor concerns. These issues include the state of the U.S. consumer and retail market, rising competition, higher fuel costs and the Federal Trade Commission’s lawsuit. Also on investors’ mind is Amazon Web Services’ growth, with multiple third-party data sources indicating a slowdown in September.
Addressing each of these concerns, Anmuth said that Amazon remains his best idea, with the pullback offering a good opportunity to buy the shares. In particular, the analyst is optimistic about AWS due to moderating spending optimizations by clients, new workload deployment and easing year-over-year comparisons into the back half of the third quarter and the fourth quarter. He also expects AWS to gain from generative artificial intelligence.
Speaking about the challenging retail backdrop, Anmuth said, “We believe AMZN’s growth is supported by key company-specific initiatives including same-day/1-day delivery (SD1D), greater Prime member spending, & strong 3P [third-party] selection.”

In terms of competition, the analyst contends that while TikTok, Temu and Shein are expanding their global footprint, they pose a competitive risk to Amazon mostly at the low end, while the company is focused across a broad range of consumers.
Anmuth reiterated a buy rating on AMZN shares with a price target of $180. He ranks No. 84 among more than 8,500 analysts tracked by TipRanks. His ratings have been profitable 61% of the time, with each delivering an average return of 16.6%. (See Amazon’s Stock Charts on TipRanks)  

Meta Platforms

Anmuth is also bullish on social media company Meta Platforms (META) and reaffirmed a buy rating on the stock. However, the analyst lowered his price target to $400 from $425, as he revised his model to account for higher expenses and made adjustments to revenue and earnings growth estimates for 2024 and 2025 due to forex headwinds.
The analyst highlighted that Meta is investing in the significant growth prospects in two big tech waves – AI and metaverse, while continuing to remain disciplined. (See META Insider Trading Activity on TipRanks)
“AI is clearly paying off in terms of incremental engagement from AI-generated content and Advantage+, and as discussed at Meta Connect, Llama 2 should drive AI experiences across the Family of Apps and devices, while Quest 3 is the most powerful headset Meta has ever shipped,” said Anmuth. Llama 2 is Meta’s new large language model.
The analyst expects Meta’s advertising business to continue to outperform, with AI investments bearing results and Reels anticipated to turn revenue-accretive soon. Overall, Anmuth is convinced that Meta’s valuation remains compelling, with the stock trading at 15 times his revised 2025 GAAP EPS estimate of $20.29.

Intel

We now move to semiconductor stock Intel (INTC), which recently announced its decision to operate its Programmable Systems Business (PSG) as a standalone business, with the intention of positioning it for an initial public offering in the next two to three years.
Needham analyst Quinn Bolton thinks that a standalone PSG business has several benefits, including autonomy and flexibility that would boost its growth rate. Operating PSG as a separate business would also enable the unit to more aggressively expand into the mid-range and low-end field programmable gate arrays segments with its Agilex 5 and Agilex 3 offerings.
Additionally, Bolton said that this move would help Intel drive a renewed focus on the aerospace and defense sectors, as well as industrial and automotive sectors, which carry high margins and have long product lifecycles. It would also help Intel enhance shareholder value and monetize non-core assets.  
“We believe the separation of PSG will further allow management to focus on its core IDM 2.0 strategy,” the analyst said, while reiterating a buy rating on the stock with a price target of $40.   
Bolton holds the No.1 position among more than 8,500 analysts on TipRanks. His ratings have been successful 69% of the time, with each rating delivering an average return of 38.3%. (See Intel Hedge Fund Trading Activity on TipRanks). 

Micron Technology

Another semiconductor stock in this week’s list is Micron Technology (MU). The company recently reported better-than-feared fiscal fourth-quarter results, even as revenue declined 40% year over year. The company’s revenue outlook for the first quarter of fiscal 2024 exceeded expectations but its quarterly loss estimate was wider than anticipated.  
Following the print, Deutsche Bank analyst Sidney Ho, who holds the 66th position among more than 8,500 analysts on TipRanks, reiterated a buy rating on MU stock with a price target of $85. 
The analyst highlighted that the company’s fiscal fourth quarter revenue exceeded his expectations, fueled by the unanticipated strength in NAND shipments through strategic buys, which helped offset a slightly weaker average selling price.
Micron’s management suggested that the company’s overall gross margin won’t turn positive until the second half of fiscal 2024, even as pricing trends seem to be on an upward trajectory. However, the analyst finds management’s gross margin outlook to be conservative.
The analyst expects upward revisions to gross margin estimates. Ho said, “Given that the industry is in the very early stages of a cyclical upturn driven by supply discipline across the industry, we remain confident that positive pricing trends will be a strong tailwind over the next several quarters.”
Ho’s ratings have been profitable 63% of the time, with each delivering a return of 21.5%, on average. (See Micron Blogger Opinions & Sentiment on TipRanks)  

Costco Wholesale

Membership warehouse chain Costco (COST) recently reported strong fiscal fourth-quarter earnings, despite macro pressures affecting the purchase of big-ticket items.
Baird analyst Peter Benedict explained that the earnings beat was driven by below-the-line items, with higher interest income more than offsetting an increased tax rate.
“Steady traffic gains and an engaged membership base underscore COST’s strong positioning amid a slowing consumer spending environment,” said Benedict.
The analyst highlighted other positives from the report, including higher digital traffic driven by the company’s omnichannel initiatives and encouraging early holiday shopping commentary.
Further, the analyst thinks that the prospects for a membership fee hike and/or a special dividend continue to build. He added that the company’s solid balance sheet provides enough capital deployment flexibility, including the possibility of another special dividend.   
Benedict thinks that COST stock deserves a premium valuation (about 35 times the next 12 months’ EPS) due to its defensive growth profile. The analyst reiterated a buy rating on the stock and a price target of $600.
Benedict ranks No. 123 among more than 8,500 analysts tracked on TipRanks. Moreover, 65% of his ratings have been profitable, with each generating an average return of 12.2%. (See COST’s Technical Analysis on TipRanks) More