After providing stellar returns in 2021, the market went into a tailspin in January 2022 and continued downward for the next 10 months. Investors have seen improvement since then, as the S&P 500 has gained over 27%. 2023 could be the year for stock pickers who can hone in on pockets of opportunity.
By June 20, 2022, the stock had gone down 46% compared to the previous year. Things only got worse over the next several months, but share prices have recovered nicely and are up over 121% this year. With a market cap of $880.80, Tesla is on a seemingly unstoppable roll.
Atlassian's growth boomed during the height of the coronavirus pandemic, but it's likely to remain in favor as even more companies are now familiar with how productive Atlassian's software can make corporate teams.
The company is showing signs of life for a 2023 bounce-back now that Bob Iger is back at the helm. Stakes are high for him to rein in costs and compensate for slowing Disney+ subscriber growth and falling ad revenue.
Cruise stocks got hammered in 2020 -- it seemed they would all go out of business during the height of the pandemic. However, before the pandemic, the cruise business was booming. After the pandemic was in the rear-view mirror, pent-up travelers flooded back onto ships.
PayPal almost single-handedly changed the payment processing world, but it had an absolutely dismal 2022. After a rough start to 2023, share prices are on the rise again, and analysts are increasingly bullish on the stock.
Zack's Investment Research says DocuSign could be the "perfect pick" for growth investors based on its strong earnings and sales forecasts and a healthy balance sheet.
JPMorgan Chase may be favorably positioned for 2023. Banks traditionally perform better when long-term rates rise, as they're able to lend money at higher rates while still paying lower short-term rates on deposit accounts.
Salesforce has outperformed the S&P 500 lately. It's the first hike in seven years, according to Reuters. It coincides with the company's increased investment in developing generative artificial intelligence products and services -- an investment that could pay off in a big way as AI gains traction.
Despite some setbacks this year, Adobe has gone up 84% since its lowest point last year and remains a valuable stock to invest in this year.
Pfizer is much more than a safe-haven stock. Pfizer's COVID-19 vaccine saw major revenue increases due to the pandemic and pushed full-year revenue to $100.33 billion last year.
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