Another earnings season is just around the corner, and Wall Street views some stocks as better positioned heading into it.
The Nasdaq Composite reigned as the clear winner among the three major averages in the first quarter of 2023, surging nearly 15% after the worst year for the index since 2008 . The gains came from beaten-up technology stocks that struggled last year as interest rates rose and yields pushed higher, denting their lofty valuations. The Nasdaq-100 , a narrower subset of the Nasdaq Composite, also suffered keenly in 2022, with a decline of nearly 33%. It's up 18% in 2023.
mountain Meta Platforms shares so far this year A handful of chip stocks also met the criteria, including GlobalFoundries and Analog Devices . Semiconductors have bounced back in the first quarter, with the S & P 500 industry group tracking the space gaining about 34% this year. Earnings per share estimates for both stocks are up 10% and 13.4%, respectively, within the last three months. Truck maker Paccar and Cadence Design Systems also made the list.
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