That trend is expected to continue over the next 12 months, when it is set to weaken another 5%, according to Goldman Sachs estimates.
Accordingly, investors should start shifting their portfolios toward international-facing companies, which will benefit from more attractive prices for foreign buyers and favorable conversion rates, the investment bank said in a recent note. "When the USD weakens, investors should favor firms with a larger share of revenues generated abroad," said David Kostin, the chief US equity strategist at Goldman Sachs, in the note. "The median stock in our sector-neutral basket of S&P 500 firms with the highest international sales exposure derives 70% of sales from abroad."
Kostin has laid out S&P 500 companies that are well-positioned to profit from a weaker greenback. The 26 below earn at least 70% of their sales abroad, placing them at or above the median. They are listed in ascending order of their share of non-US sales.
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