These underperforming stocks are due for a fourth-quarter comeback, according to Wall Street

Stocks struggled over the last three months as yields rose , 2023's popular technology trade hit a wall and the Federal Reserve indicated that rates may stay elevated for longer . The S & P 500 and tech-heavy Nasdaq Composite slumped 3.7% and 4.1%, respectively, for the period, and are coming off their worst months of the year . Amid this backdrop, CNBC Pro screened for underperforming stocks that may be due for a comeback in the fourth quarter.

mountain Microsoft shares over the last three months Wall Street sees more upside ahead for both companies even after surging this year on enthusiasm surrounding the technology. The consensus price target for AMD implies another 34% upside, building on its roughly 58% 2023 gain. Meanwhile, Microsoft could rally about 22% from these levels. A handful of cruise stocks that have struggled in recent weeks amid the jump in fuel prices also made the cut.

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Stock market today: World markets mixed as bond selling pressures Wall StreetWorld shares are mixed after Wall Street simmered under pressure from rising bond yields. U.S. futures and oil prices edged higher.
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