Top Wall Street analysts say these are the best stocks to beat the volatile market

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TipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Apple and Bank of America.

Macroeconomic headwinds are making Apple's near-term outlook cloudy, but analysts are looking at the long-term prospects.recently reiterated a buy rating on the stock despite trimming the price target to $175 from $200. Although Apple did not provide guidance for the fiscal third quarter, Ho expects low single-digit year-over-year growth, taking the growth obstructions into account.

Looking at the persistent geopolitical issues, rising interest rates and slowing consumer spending, the analyst said that he wouldn't "be surprised to hear more chatter about Apple cutting orders." No doubt, the stock has shed almost 26% in 2022. But Ho finds this performance as good as, or even slightly better than its mega cap peers. Further, he said, the macroeconomic headwinds will not allow the AAPL stock valuation to reach its 5-year high of more than 30 times earnings per share in the next 12 months, giving another reason to consider adding the stock now.

Sidney Ho holds the spot at No. 127 among almost 8,000 analysts followed on TipRanks. Moreover, he has been successful at 72% of his stock ratings, returning an average of 22.3% on each.), which provides enterprise storage and data management solutions. The stock has been no stranger to the current setbacks weighing industries down, and its shares have declined about 30% in the year-to-date period.

The higher costs of components and logistics that resulted from supply chain constraints have dented the company's margins. These issues are likely to be near-term hurdles.

 

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