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๐ Insider Time: 5 S&P 500 Stocks Worth Buying Now
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With only 20 trading days left in 2023, the US stock market is poised to record one of its best results in the last 5 years. Investors are encouraged by signs of slowing inflation and hopes that the Federal Reserve will stop raising interest rates.
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The S&P 500 is up 18.7% year to date, with tech stocks leading the rally. For example, Nvidia and Meta Platforms showed triple-digit growth. The shares of Tesla, Amazon, and Alphabet rose confidently; the trend was actively supported by Microsoft and Apple.
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Except for this ยซmagnificent sevenยป, there are several other companies in the S&P 500 calculation base with the potential for growth in at least the first quarter of next year.
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โข Royal Caribbean Cruises (NYSE: RCL)
The world's largest cruise operator showed excellent dynamics (+112.3%), the financial condition rating is high, and the global industry trend is positive. First goal: $122-125.
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โข PulteGroup (NYSE: PHM)
The third largest company in the US homebuilding market has strong earnings (+93.2%) and strong sales growth supported by strong demand for new homes. First goal: $105-110.
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โข Adobe (NASDAQ: ADBE)
Adobe was among the leaders (+84.2%) thanks to its innovative software solutions for the creative industry and digital marketing. The financial condition rating is consistently high. First goal: $650-655.
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โข General Electric (NYSE: GE)
The international conglomerate showed growth of +83% thanks to high-quality diversification across various sectors. GE shares remain undervalued and could rise by more than 35% to a fair value of $161.45.
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โข Arista Networks (NYSE: ANET)
Thanks to innovative solutions for data centers, the company was able to take away market share from competitors Cisco Systems and Juniper Networks. The fair value of $250 implies an upside of 14.4% from current levels.
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Profits to yโall!