Western Digital and Intel are up by double digits in 2023, but Goldman Sachs says these shares may see sharp declines.
But even given this optimism, Goldman believes some stocks are bound to fall.
In a recent note, the firm detailed several stocks that have the most downside potential based on Goldman's respective target prices.
This summer, Western Digital issued weak guidance for its fiscal first quarter, calling for a loss ranging between $2.10 and $1.80 per share, excluding items.
The firm sees a descent of more than 14% for the lodging stock, a sharp turn from its 49% year-to-date gain.
Persons:
Goldman Sachs, David Kostin, Goldman, FactSet, Justin Patterson, Northrop, — CNBC's Michael Bloom
Organizations:
Western Digital, Intel, Chief, KeyBanc, Northrop Grumman, APA, Hormel
Locations:
Airbnb