Read previewJust seven stocks accounted for the lion's share of returns for the S&P 500 in 2023.
Piper SandlerIn a January 23 note to clients, he said that only three of the seven stocks are well-positioned to keep rising, while two are in a more neutral position and another two are loaded with "red flags."
When analyzing the seven stocks, he looked at fundamental traits that make them a strong buy, as well as downside risks to the companies.
On fundamentals, Alphabet and Meta each scored a one and Apple came in right behind with a two.
But the remaining two stocks in the group — Tesla (TSLA) and Nvidia (NVDA) had a ton of downside risks, he said.
Persons:
—, Michael Kantrowitz, Piper Sandler, Kantrowitz, Meta's, Tesla
Organizations:
Service, Apple, Nvidia, Tesla, Microsoft, Meta, Business, Google, Facebook
Locations:
lockstep