The revenue of General Electric’s (NYSE: GE) aviation business declined to about $22 billion in 2020 from $33 billion in 2019 and further to about $21 billion in 2021. However, we anticipate that figure to recover to around $27 billion by 2023. The recovery factor has not been priced yet into GE’s stock. Hence, we expect a sharp rise in the stock price.
The 4-hour chart of GE shows a positive outlook. The price is wobbling around the 20-period SMA. In the immediate background, you can clearly see a bullish pin bar posted on May 02. The stock can rise to $85.00 to test the 50-period SMA.
General Electric is an American multinational conglomerate that is headquartered in New York City. The company was founded in 1892 as a manufacturer of electrification appliances, and it has grown to be a manufacturing and financial services company. The company has operations in more than 50 countries, and it employs over 312,000 people worldwide.
GE’s products include aircraft engines, renewable energy systems, industrial equipment, digital currency, and financial services. GE’s renewable energy business is growing through acquisitions, with the most recent being the purchase of the Los Angeles-based company Wirsol in May.
This purchase allows GE to expand its offerings in the solar and wind markets. GE’s digital products include a financial services service called Clear, which provides credit information to consumers, and a credit-to-cash service called Scan.
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