Let’s review the 10 best stocks to own in 2023 (brought to you by Marketbeat.com).
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Uncertainty is the Only Certainty for 2023:
- Inflation and rising interest rates can pave the way for a lot of risk of recession in 2023.
- The U.S. economy is facing a reckoning in terms of interest rates and the cost of business but it is a strong and resilient economy. It will bounce back, and when it does, it will give off a signal that cannot be ignored.
- Long-term investors who build solid portfolios of dividend-paying stocks and reinvest those dividends will come out on top.
- Until then, the best choices for investors include fundamentally sound blue chip companies with sustainable dividends and share repurchase programs. These stocks won’t be immune from downturns and dips but they should be insulated from them and they will likely keep on paying dividends as well. When the dips come, add to those positions and build a lever for portfolio growth for when the rebound begins, then keep adding to it.
It’s Hard to Own Stocks When the Market is Falling:
- The S&P 500 has already corrected more than 20% and it may fall further.
- Mortgage rates have catapulted to their highest level since before the housing bubble.
- Credit card rates remain at their highest levels in 30 years.
- The labor market is still strong and U.S. consumers will most likely suck it up and pay the bills.
Focus on Opportunity, Value and Dividends in 2023:
On a sector basis, the energy sector looks like the best one to own for two
primary reasons:
• Valuation: The energy sector was valued at less than 10x its earnings going
into the fourth quarter of 2022.Energy prices, while down from their peak,
are still quite high relative to the prior year.
• Earnings outlook: The energy sector is on track to produce 150% earnings
growth in fiscal 2022. Analysts expect another 40% in 2023.
Financials, reflected in the Financial Select Sector SPDR Fund (NYSEARCA: XLF), also looks attractive as a group. The sector struggles with earnings growth in 2022 but should still post positive results — the outlook for next year is much better. The group is expected to post 13.8% earnings growth and come in fourth place among the other 10 S&P 500 sectors.
These are the 10 best stocks to own in 2023:
- Occidental Petroleum: Energy is Still the Top Pick for Earnings
- Schlumberger: An Oilfield Services Rebound is Brewing
- Kraft Heinz – shares of Kraft Heinz are among the cheapest if not the cheapest stock in the consumer staples, represented by the Consumer Staples Select SPDR Fund (NYSEARCA: XLP) universe.
- PepsiCo: A Diversified King of Consumer Staples
- Lowe’s Companies: Another Crown Jewel for Dividend Investors
- Levi Strauss: A Good Fit with Long-Wearing Potential
- Duke Energy: Electrify Your Returns
- Jabil Inc: got its start manufacturing PCBs or printed circuit boards in 1966.
- Intel: A Deep Value/High Yield Combination
- Camping World – The pandemic boosted the RV industry, which more than doubled over the next two years and then saw demand for new RVs peak.
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