Stock Picks Poised to Lead the Markets in 2023!

Many will remember 2022 for the devastating impact on their portfolios as the stocks, mostly in the growth-driven tech sector.

These stocks had pushed markets higher during the previous decade then experienced significant falls amid a broad-based equity selloff, leaving anyone left holding this bag of losers beaten, bruised, and left for dead.

Could stocks make a comeback in 2023?

Of course, we don’t have a crystal ball to look at, but as we head into the New Year, we’ve got inflation and interest rates still remaining the main triggers to what the markets will do.

As these two go hand in hand like peanut butter and jelly (or maybe more like ketchup and mustard), we still need to pay attention to their dynamics moving forward to 2023.

But remember; all is not lost!

Keeping these things in mind, we take a look at these three stocks that could potentially outperform the market, and potentially lead a brand-spanking-new bull market!

Barrick Gold Corporation (NYSE: GOLD)

While the current bear market was busy bludgeoning most stocks around the world, the Barrick Gold Corporation managed to somehow take the blow, even going up by around 7% in the past month.

While still down for the year, the recent gains have occurred as the price of gold has increased, as the price of the yellow metal firmed up towards the later stage of 2022, and with it also accounting for 90% of Barrick’s revenue.

Energy prices have also fallen slightly in recent months, which may assist in reducing the company’s gold production costs, and boosting margins in the medium term.

Minding the current surge in price, is Barrick Gold stock still a good buy? 

Given the bleak global economic picture and growing macro uncertainties, gold prices could rise further.

The United States is widely projected to enter a recession, Russia’s war in Ukraine, now in its second year, is also a source of anxiety, particularly for European economies.

These characteristics may make gold more desirable, hence increasing price potential for Barrick, being one of the world’s top gold miners.

As we move closer to 2023, Barrick appears well-positioned to weather a future recession and a rising rate environment. 

Separately, given its application in a variety of futuristic industries, Barrick’s intention to grow its copper business might create incremental upside for the company and with the latest guidance released by several analysts providing a bright future for metal producers next year, GOLD looks set to continue its bounce.

Related Article To Read: Lockheed Martin: A Beacon of Hope in a Volatile Market

Pfizer Inc. (NYSE: PFE)

As one of the market leaders following the Great Pandemic Crash of 2020, investors appear to be bored with Pfizer’s narrative, as the stock is down nearly 10% since the beginning of 2022. 

But I believe that investors should not be so eager to dismiss Pfizer stock. Vaccine revenue will continue to trickle in the coming years, and the balance sheet is still flushed with cash.

While Pfizer made lots of money during the Covid-19 crisis on the vaccine it developed with BioNTech, investors should not forget that PFE was a pharmaceutical powerhouse before the pandemic.

The company has a solid pipeline of medicines in development, as well as recent acquisitions such as Biohaven, which was purchased for $11.6 billion in early October. 

Management has forecast long-term revenue growth of up to $20 billion from new items by the end of the decade.

Pfizer’s business is rising faster than its stock price, and the corporation has more cash than it has had in a long time.

While we know that investing is not guaranteed, it’s quite hard not to notice Pfizer’s great position heading into 2023. 

Make sure to keep an eye out for this one.

Halliburton Company (NYSE: HAL)

Halliburton is an energy firm that specializes in the exploration, development, and production of oil and natural gas.

Its stock has risen 14% in the last ten trading days, and although the broad S&P 500 index performed relatively well the past month, it was still beaten by HAL.

The good news is that it doesn’t appear to be stopping there. 

The International Energy Agency (IEA) raised its forecast for global oil demand growth from 2022 and 2023, citing rising crude consumption in India, China, and the Middle East.

The IEA now anticipates oil demand to rise by 1.7 million barrels per day in 2023, up from 1.6 million previously.

This comes on the heels of China removing its Covid-19 quarantine restriction for inbound passengers, which is viewed as a significant step toward reopening its borders. 

A strong recovery in North America has also left the supply chain struggling to satisfy the sudden increase in demand for items such as the sand used in hydraulic fracturing.

Due to capacity restrictions, HAL has been able to raise prices in order to retain profitability.

All of these are helping Halliburton to maintain high margins well into 2023, and possibly lead the market!

Related Article To Read: Stocks to Watch for Profit in a Rising Rate Market

But wait, check the Bear case for 2023

The Federal Reserve could over-tighten things, and send the economy deep into a recession, or a “hard landing”, possibly erasing any recoveries made by equities recently.

In this case, even the most defensive of stocks will not be spared from an extended bear run in 2023.

Still, whatever unfolds in 2023, keep in mind that every bear market has been followed by a bull market.

Just stay cool and sit back, and when the bull finally emerges, we can grab it by the horns and ride it out.

In this case, even the most defensive of stocks will be spared from an extended bear run in 2023.

Still, whatever unfolds in 2023, keep in mind that every bear market has been followed by a bull market. Just stay cool and sit back, and when the bull finally emerges, we can grab it by the horns and ride it out!

For More Stocks And Investment Related News, Click Here.

 

 

Get Your Free Actionable Trading Report Each DaySubscribe to the
I’m a Stock Trader
mailing list and get interesting stuff and updates to your email inbox.

Latest Newsletters

On this website we use first or third-party tools that store small files (cookie) on your device. Cookies are normally used to allow the site to run properly (technical cookies), to generate navigation usage reports (statistics cookies) and to suitable advertise our services/products (profiling cookies). We can directly use technical cookies, but you have the right to choose whether or not to enable statistical and profiling cookies. Enabling these cookies, you help us to offer you a better experience.