Some of the Best Stocks to buy in 2023 are listed below, to make your future more secure and financially stable.
For investors, 2022 was dreadful and uneventful, though the year has come to an end we believe that 2023 will be much more better and successful with some of the best stocks to buy.
The past year was a dismal year for the market with most U.S equity indexes falling well into the bear market territory, while the bond market tumbled as fixed income failed to stabilize amidst surging interest rates.
Though some stocks tried to bounce back in the fourth quarter of the year, it all ended on a down note with many shares trying to slide back which failed to actualize. Though with these challenges much still lies ahead in the coming year for stocks whose fall could be set for a surprising rebound in 2023 as tax-loss selling ends and investors start to make use of the bargains.
All the following are some of the Best Stocks to buy in 2023, all down 50% or more in 2022 and should enjoy a prosperous 2023.
- Meta platform inc.
- Zoom video communication inc.
- Snowflake inc.
- EPAM system inc.
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Meta Platform Inc. – Best Stocks in 2023
Though it looks bad for the Meta platform inc. in the year 2022, in 2023, Meta platform inc. could be a sure bait as it will be one of the best stocks to buy in 2023 for investors.
Analysts are projecting Meta book revenue of $177 billion and earnings per share of $10.000 in the full year of 2022, which is very close to the record lowest valuation of the company since its inception as a publicly traded company.
Formerly called Facebook, Meta boost is the largest social media company with incorporation with Instagram, Facebook, and WhatsApp. The platform has faced some obstacles in recent times despite its dominance, which has led to a decline in advertising revenue and also a slowdown in Facebook user growth.
Even though Metaverse has spent nearly $ 10 billion so as to be the Apple of social media, a 3D version of the internet that has really failed to kick off as planned, especially that of the European Union has been skeptical and uncertain.
CHECK OUT: Prediction of Amazon stock price: market value for 2022, 2023, 2025, 2030, 2040, and more
Zoom video communication inc. – Best Stocks in 2023
Zoom video communication inc. had its break out on the event of the pandemic. It was an all-win for the company as both businesses and educational facilities rushed to adopt zoom as part of their daily routine when it was obvious the sit-at-home was taking too long.
However, investors now have abandoned zoom since normalcy has returned and the economy has reopened.
Zoom shares now have lost nearly 90% because of these recent developments from their all-time high. The analysts expect the company to earn nearly $4 per share in 2023 which will put the share at around 17 times earnings, and hence it has made it to our list of the Best Stocks to buy in 2023.
Zoom growth will likely be slow because after the pandemic many businesses seem not to fancy it, though Zoom is currently generating more than $ 4 billion a year in revenue and delivering strong earnings with cash flow, which is a good omen for investors going into 2023 who will regain appreciation.
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SnowFlake inc. – Best Stocks in 2023
Snowflake inc. is a leading cloud-based data storage and management platform which is run by a tech visionary, Frank Slootman, and was one of the most anticipated initial public offerings in 2022 or IPOs.
It’s not hard to see why snowflake has gained such growth in such a short because it is an absolute growth machine. Snowflake has grown from $97 million in revenue during the fiscal year 2019 to $1.2 billion in 2022, while analyst has predicted another 68% and 48% growth in 2023 and 2024 respectively, hence, SnowFlake deserves to be here among the best stocks to buy in 2023.
This is unbelievable as Snowflake has become a leading force in the cloud-based data solution. The nagging issue with snowflake is valuation, shares traded at 100 times revenue at one point, even at Snowflake’s immeasurable growth rate that was still a steep asking price, though in 2022 snowflake dropped to nearly 60%.
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EPAM System Inc. – Best Stocks in 2023
Epam is a digital engineering and software development company that offers services of information technology for companies that need help in upgrading and building their IT system.
Epam has a U.S. base with its core value proposition being that it has large teams of engineers from the low-cost overseas market which allow the company to offer substantial cost saving versus peers. Though this unique model ran into a major setback in 2022 because the company has 40% of its employee base in Ukraine, Belarus, and Russia.
However, in the years 2023 and 2024, we expect that EPAM will see some major growth, so it won’t be bad to target it as one of the best stocks to buy in 2023.
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