Will Home Depot Reach a Trillion-Dollar Market Cap by 2030?
Home Depot (NYSE: HD) has made for a phenomenal investment historically. Since their initial public offering in 1981, the shares have generated a monster total return of 2,973,000%. This means a $10,000 investment would be worth just under $300 million today.
But what does the future hold for this top retail stock that trades 13% off its peak price? Can Home Depot, which is valued at $353 billion today, reach a trillion-dollar market capitalization by 2030?
Home Depot just reported financial results for its fiscal 2024 second quarter (ended July 28). The business reported a 0.6% revenue increase, but same-stores sales dipped 3.3%. Management downgraded the full-year outlook, now forecasting that comparable sales will fall 3% to 4%, from previous guidance of a 1% drop.
Source Fool.com
