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While stocks as a whole have rebounded from their October lows, some stocks have risen more than others. The S&P 500 recently hit a new all-time high, up nearly 20% from its October 27, 2023 low. This marks the beginning of a new bull market, which typically returns more than 150% and lasts even longer. More than 1,700 days (4.5 years). While major market averages soar to new heights, some investors are wary of the exact driver of the rise. In particular, it focuses on some of the few mega-cap technology companies known as the “Magnificent 7.” These companies are believed to be contributing to the market’s continued rise despite signs of weakness elsewhere. In this environment, CNBC Pro analyzed which stocks have performed best since the bottom in late October. Below is a chart of the top 10 gainers, how many Wall Street analysts rate them as buys, and where they expect their stocks to go in the future. On the other hand, Nvidia is a prime example of what’s driving the stock market higher, given its 238% rise in 2023. , another chipmaker, Advanced Micro Devices, has risen further since the latest bull market began. The company’s stock price has increased nearly 77% since October 27th. Shares fell on Wednesday after AMD gave a weaker-than-analyst forecast for revenue this quarter. However, following the earnings report, multiple analysts reiterated their bullish evaluations of the stock, with some arguing that the decline created a good entry point. “We reiterate our buy rating on AMD and would view a near-term correction in the stock price as an opportunity to add exposure,” said Goldman Sachs’ Minya Zhang. Still, other analysts expect a pullback ahead. Fewer than three out of five people surveyed by FactSet rate the stock a “buy,” and the average price target suggests AMD could fall nearly 4% over the next year. Indeed, Nvidia is still on the list of biggest winners, albeit in seventh place. The darling of artificial intelligence and leading manufacturer of artificial intelligence processors has posted an increase of more than 54% since late October. More than three in four Wall Street analysts surveyed by FactSet rate Jensen Huang’s Nvidia a “buy.” They see further upside potential going forward, with their average price target suggesting the stock could rise another 7.6%. This comes after the stock price has already risen 24% in the new year. NVDA AMD Mountain 2023-01-01 His Nvidia and AMD in 2023, Cantor Fitzgerald is late to the party, and last week analyst CJ Muse announced his coverage of the semiconductor sector. It started. Muse cited Nvidia as one of the top candidates to work in this field. “NVDA is an ‘AI platform’ that provides both the hardware and end-to-end software stack capabilities to support this once-in-a-generation investment cycle,” he wrote to clients. “Given the fact that NVDA is moving at the annual pace of technology and its historic drive to do whatever it takes to remain competitive/remain a leader, NVDA’s key competitive position will remain Outside of tech products, Bath & Body Works also made the list, up more than 53% since October. For all of 2023, retailers were up just 2%. BBWI 1Y Mountain Bath & Body Works’ performance over the past year Analysts expect the stock price to remain range-bound going forward. Less than half of the analysts covering the company rate the stock a “buy,” according to FactSet, and their average price target expects the stock to remain largely unchanged over the next year.
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