The new earnings cycle is underway, and American Express (NYSE:AXP) is in the news today after releasing its Q1 earnings report. If customers are resilient, then American Express can profit handsomely, but that’s far from assured in a high-interest-rate environment. Yet, after viewing the just-released data, I am bullish on AXP stock and am preparing for higher share prices throughout the year.
American Express is a well-known American credit card issuer, but there may be a perception that the company caters to older shoppers. The billion-dollar question, then, is whether American Express can appeal to younger customers, such as Millennials and people classified as being in Generation Z (a.k.a. Gen Z or Zoomers).
More generally, with inflation ticking back up in March, there’s a question of whether American Express can gain new clients and turn a profit at all….
