15 Stocks That Will Double In 2023

A recent Morgan Stanley report predicts inflation will dip down to 2.4% by the end of 2023, the rate hikes will end and the economy will flatline but not shrink.

• The pharmaceutical giant is known for its high returns over the past decade.
• And its solutions are shipped to more than 45 countries around the world.
• Higher input costs and higher interest rates took a toll on businesses and the financial markets.
• Pinduoduo decided to expand into the U.S. market in September last year via its Temu site to address the growth issue.

However, shares are rebounding, and are up nearly 30% since late May. Additionally, Advanced Micro Devices “continues to release innovative new products, as it expands from PC, data center and gaming to AI workloads in the hyperscale space.” In the financial markets, 2022 has been the tale of two sectors. To date, rapidly growing companies that derive a capital valuation from a multiple of future profits over access to cheap capital have faltered as the price of capital has risen.

Stocks for 2023

The idea is to build a massive user base (currently 73.5 million accounts) before shifting the business plan into profit-taking mode. It should take several years, since Roku’s international expansion is in an early stage. Instead, this company offers customized enterprise AI solutions, fine-tuned to fit more than 40 specific industries. Client companies handpick the right AI solution, expose their proprietary business data to its algorithms, and enjoy the benefits of business analytics powered by supervised and unsupervised machine learning.

As a result, it “should not have to cut prices much to move its inventory.” And Workday isn’t very profitable – it eked out a small profit last fiscal year (ending in January). But analysts expect that to turn in 2024, buoyed by revenue growth of 27% in the next fiscal year. What’s more, MTDR is one of best values on this list of the best stocks to buy now. Shares are currently trading at just 6.1 times forward earnings, well below Matador’s five-year average of 9.7. The consensus price target, according to S&P Global Market Intelligence, is $71.77, representing expected upside of nearly 18% over the next 12 months or so.

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On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The industry shift to streaming continues, and Netflix remains a clear leader. Visa is a key beneficiary of resilient consumer spending and consumers’ /businesses’ ongoing migration from cash to electronic payments. Visa runs one of the largest centralized consumer payment networks globally, processing US$8.8 trillion in payment volume in FY20.

That’s when Winston Churchill, in 1914, entered the picture, as he was looking for a dedicated oil supply for the British Royal Navy, which he led at the time. For more than 40 years, Axcelis Technologies, Inc. (ACLS) has provided equipment and services to leading semiconductor companies around the world. Specifically, the company offers ion implant platforms that better optimize the semiconductor fabrication process. Axcelis Technologies’ Purion platform has been particularly popular, as it addresses many of the challenges that companies face during semiconductor fabrication. Even better, great businesses function as inflation “pass through” vehicles.

The company’s three-year annualized dividend growth is nearly 15%. Dollar General stock is up 3% in 2022, even as the S&P 500 has fallen nearly 20%. Throughout this year, the chain has reported increases in foot traffic and in how much customers spend at each transaction. Heading into 2023, there is more uncertainty than usual about what will happen next. The Fed may continue to push interest rates higher and the U.S. economy may slip deep into recession.

Thanks to higher gas prices for both of its royalty agreements, NRT achieved total third-quarter royalty income of $4.44 million in fiscal year 2022. That represented a 200% year-over-year increase from $1.48 million in the third quarter of fiscal year 2021. The company’s primary customers are contractors, builders, construction professionals and do-it-yourselfers. GMS, Inc. (GMS), or Gypsum Management and Supply, is a leading distributor of interior building products in the U.S. and Canada – and it’s been in business since 1971. The company dubs itself as a “one-stop-shop” for its customers’ needs, as it has more than 250 “yards” or distribution centers throughout the U.S. and Canada where customers can fulfill all of their building product needs. During the fourth quarter of 2022, Enphase Energy shipped 4.87 million microinverters, which translates to about 1,952.4 megawatts DC, and 122.1 megawatt hours of Enphase IQ Batteries.

“In past years AMD has gained meaningful global market share in CPUs for data center and client, mainly at Intel’s (INTC) expense,” says Argus Research analyst Jim Kelleher, who has a Buy rating on AMD. The underlying trend for eCommerce is one of growth, not only of the broader economy and new markets but the share that is being incrementally won every year from conventional in-store retail. The combination of economic expansion, new products and geographic markets, and the shift from in-store to online, will continue to serve AMZN well. Before deciding on which specific stocks to invest in, it is first worthwhile selecting the sectors and markets that you believe have the greatest opportunity and, by extension, the greatest probability of success.

Plug Power (PLUG)

Patterson expects crude prices could retreat a bit amid “weakness in China’s economy,” and overall, they will likely keep jumping around. Companies will continue to invest in software and hardware solutions to high labor costs, he says, and many of the firms have “fantastic” balance sheets. Haliburton (HAL, $38.58) is one of the world’s largest energy services companies, according to Argus Research, with more than 40,000 employees and operations in over 70 countries. It supplies products and services to assist in energy exploration and production, from locating the oil to constructing and completing the well to managing geological data.

As a result, the bulls will probably start emerging victorious again. Before the market in general and TSLA stock in particular weakened in the middle of December, SHLS stock was rallying sharply, as it surged 18% between Dec. 7 and Dec. 15, reaching $28.15. The latter price was about 15% below its 52-week high of $32.43. If the market and the clean-energy sector rebound next year, there’s a good chance that SHLS will be off to the races once again. Cryptocurrencies have emerged as speculative vehicles of choice for the Millennial generation, but gold and SPDR Gold Trust (GLD) could shine brightly in 2022, breaking out above decade-long resistance at 200.

Lilly EVP and CEO Anat Ashkenazi says the product portfolio can support “top-tier, volume-driven revenue growth” through 2030. In 2023, the company expects $30.3 to $30.8 billion in revenue and non-GAAP earnings per share of $8.10 to $8.30. Both ranges show growth from expected year-end 2022 results—$28.5 to $29 billion in revenues and $7.70 to $7.85 in non-GAAP earnings per share. Mizuho on Thursday raises its price target on business-software firm Intuit (INTU) to $600 a share, up from $550, while reiterating a buy rating on the stock. The firm’s call comes on the heels of the launch of Intuit Assist, a new generative artificial intelligence-powered assistant.

As for that dividend, ADM has issued 50 years of consecutive increases to its payout – most recently lifting it by 12.5% in January 2023. This not only makes Archer-Daniels-Midland one of the best dividend stocks to own, but one of the best stocks to buy period. Real estate investment trusts (REITs), among the most interest-rate-sensitive industries, have fallen an average of roughly 17% over the past year. Dividend yields are calculated by annualizing the most recent payout and dividing by the share price. AI will require orders of magnitude more in microprocessing capability. To keep abreast of the rapid developments, most will turn to the cloud, as only centralised hardware operations will be able to keep up with the technological advancements.

The 12 Best Stocks to Buy Now

Chapek had made some unpopular moves, including raising theme park prices and initially overlooking Florida’s “Don’t Say Gay” bill. Iger, now on a two-year contract, was well-liked as Disney’s CEO between 2005 and 2020. Dollar General actively returns value to shareholders through share repurchases and dividends.

But it wasn’t until late May in 1908 when oil actually spewed from a “last chance” well in a remote area of Persia. Today, the company is the second-largest producer of coal in the eastern U.S., with underground mining operations in Illinois, Indiana, Kentucky, Maryland, Pennsylvania and West Virginia. It sold 28.2 million tons of coal in 2020, and 32.3 million tons of coal in 2021. (ARLP) became the first publicly traded master limited partnership (MLP) in the coal industry. Interestingly, though, Alliance Resource Partners has been in the coal mining business since 1971. And analysts have picked their favorite spots to make money this year.

For other static pages (such as the Russell 3000 Components list) all rows will be downloaded. For reference, we include the date and timestamp of when the list was last updated at the top right of the page. The company is still working through its Sprint integration plan. With progress to date ahead of schedule, T-Mobile recently raised its merger synergies guidance. The company had previously estimated merger-related cost savings of $5.4 billion to $5.6 billion. Shareholders have enjoyed dividend increases in each of the last eight years.

Is this a test of the ‘own it, don’t trade it’ mantra on Club name Apple (AAPL)? While it’s still early days, Temu has already amassed over 100 million active users in the U.S. as of May. Besides, the South China Morning Post reported that Temu is already available in 38 countries, including the United Kingdom, Australia, New Zealand, Japan, and others. It has also entered the Philippines, a market where Sea Limited’s Shopee is the dominant player. Given EL is a 100% prestige pure-play with strong brand positioning, we see EL continuing to gain share.

And it also means that, if all continues to go well, product launches aren’t too far away. Lululemon Athletica (LULU, $379.42) is a retailer of leisure attire. The stock is up 18% for the year-to-date, thanks in part to comparable-store sales rising 14% in the first quarter. Looking ahead, Matador’s natural gas business is a bridge to the time when renewables will provide most of the fuel for electricity. “But a recession may be avoided, with the odds of one in early 2024 at 40%,” writes Kiplinger economist David Payne in Kiplinger’s GDP outlook. “Given the pace and intensity of Fed tightening, there’s a strong likelihood that the U.S. will enter a recession in 2023,” says Russ Koesterich, portfolio manager of the BlackRock Global Allocation Fund.

Risks of Investing in Tech Stocks

Many analysts are neutral about Amgen (AMGN, $257.62), a bio-pharma firm. Though some new drugs are off to a good start and selling well, that’s been offset by slowing sales for its older treatments, which are under pressure from competitors. Argus Research analyst John Staszak certainly believes LULU is one of the best stocks to buy for the long term. “It has really been able to carve out a strong position based on its patented technology,” says Parnassus Mid Cap fund co-manager Lori Keith. And once installed, customers tend to stick – Workday has a customer retention rate of 95%.

• He has been featured by CNBC, Fox Business, Bloomberg, and MarketWatch.
• With progress to date ahead of schedule, T-Mobile recently raised its merger synergies guidance.
• However, shares are rebounding, and are up nearly 30% since late May.
• There were already two giants (Alibaba and JD.com) in the Chinese e-commerce market, so the 3-year-old company was probably another one of these wannabe e-commerce platforms that would fade over time.

Also importantly, MGM expects its sports-gambling joint venture, BetMGM, to become profitable in 2023. Additionally, Barry Diller, who has successfully turned around many companies, has a 16.5% stake in MGM stock. When Pinduoduo (PDD -0.63%) went public in 2018, most investors hadn’t heard about it. There were already two giants (Alibaba and JD.com) in the Chinese e-commerce market, so the 3-year-old company was probably another one of these wannabe e-commerce platforms that would fade over time. On the other hand, there is a chance that the company’s production could be delayed.

Picking the right stocks for 2023 amid that uncertainty is challenging. That typically means choosing mature, stable companies over smaller, nimbler investments. At the beginning of each year, PLUG traditionally unveils one or more major https://1investing.in/ partners or customers. With the company due to present at Goldman Sachs’ Energy Conference in the first week of January, Plug could announce the news that will boost PLUG stock and other clean energy companies, as well as EV makers.

Founded by Larry Ellison in 1977, today Oracle is among the biggest software developers in the global market. The company’s software and hardware applications have powered the rise of the internet for more than four decades. Taiwan Semiconductor Manufacturing Company could be the biggest tech company you’ve never heard of. Founded in 1987, Taiwan Semi is the world’s largest independent manufacturer of semiconductor chips and makes more than 11,000 products. The company’s shares trade on both New York and Taiwan stock exchanges. The best tech stocks come from companies that are building the future.

For fiscal year 2022, Enphase Energy achieved earnings of $4.62 per share and total revenue of $2.33 billion. That translates to 91.7% annual earnings growth and 68.7% annual revenue growth. These results also bested estimates for earnings of $4.44 per share on $2.31 billion in revenue.

Oil was already in short supply as the global economy opened up post-pandemic; then came the war in Ukraine. Haliburton stands to benefit as oil companies ramp up production. This tech behemoth was favoured more than most other technology companies in 2022, down only 17% on the year and continuing queueing system to benefit from its oligopoly in the application download and its strong position in phones. The cash flow burn of their Alexa programme weighs heavily on investors’ minds as Meta (Facebook) has spent so freely on its new-age immersive technology – $36bn spent on the Metaverse.