Asking for a friend, why is Costco trading like a tech stock?
PE is 57.25, Forward PE is 50.74
Revenue growth yoy to 2022 was about 6%
If you look at their quarterly revenue growth is barely moved the needle the past few quarters. If anything from 9/3/2023 to 11/26/2023 it dropped quite a bit.
| Quarterly Ending: | 5/12/2024 | 2/18/2024 | 11/26/2023 | 9/3/2023 |
|---|---|---|---|---|
| Total Revenue | $58,515,000 | $58,442,000 | $57,799,000 | $78,939,000 |
Compared to tech stock like Apple and NVDIA…..
Apple PE is 37.74, forward PE is 31.41
Even NVIDA forward PE is 39.09
Is there expectation that Costco's growth is like a tech stock moving forward? They are cracking down on membership sharing, but is that enough to offset potential lost sales vs membership revenue (those sharing buying their own like what Netflix did?)
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