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

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

After a rocky third quarter, these stocks could be poised for a bounce back in the final stretch of 2023, 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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: AP - 🏆 728. / 51 Read more »