2024-01-25 13:45:00 ET
Summary
- American Express' closed-loop business model and focus on high net worth clients offers it a competitive advantage.
- The company is less reliant on interest income for earnings, which is an advantage as credit metrics are worsening across the industry.
- I am watching a few particular growth drivers for American Express in 2024.
American Express ( AXP ) is on a winning streak. Shares are back to near their all-time highs and significantly outperformed other card issuers such as Discover Financial Services ( DFS ) and Capital One Financial ( COF ) over the past few years:
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American Express: I Remain Upbeat Heading Into Earnings