Top Wall Street analysts like Apple and Nvidia

Apple CEO Tim Cook presents the new iPhone 14 at an Apple event at its headquarters in Cupertino, California, United States on September 7, 2022.

Carlos Barria | Reuters

Market prospects are becoming increasingly uncertain, due to unwieldy inflation and a slowing economy.

Stocks ended Friday with losses. They were ultimately unable to bounce back from Tuesday’s heavy sell-off in which the Dow Jones Industrial Average shed more than 1,200 points.

Against this background, investors need to move past the current turmoil as they choose their investments. To that end, here are five stocks picked by top Wall Street professionals, according to TipRanks, a platform that ranks analysts based on their performance history.

apple

apple (AAPL) Needs no introduction. The iPhone maker was beating all odds and going on to launch a compelling product. On September 7, the company held Big fall happenedIt launched the long-awaited iPhone 14 series, along with Apple Watches and AirPods.

After the event, Monis Analyst Crispy Hardt Brian White He said the product offerings fostered “a portfolio that has never been stronger and a more mainstream platform.” (We see Apple Hedge Fund Trading Activity on TipRanks)

White was wary that the treacherous macro environment might make consumers reluctant to indulge in a new smartphone purchase. However, he was encouraged by the fact that the company iPhone 14 smartphone prices have not been raised.

White notices that An apple The current rate of profit is higher than its average over recent years. However, given the long-term business model, the analyst was optimistic An apple A strong service business has created a solid foundation for consumer confidence.

Analyst who is at 470The tenth Of the nearly 8,000 analysts tracked on TipRanks, they have been given a buy rating of the stock AAPL, with a price target of $174.

White has a proven track record of 57% success rate on his ratings, each rating generates average returns of 11%.

EQT . company

The increasing demand for natural gas as an energy source is driving growth in EQT . company (EQT). Needless to say, the skyrocketing oil and gas prices this year have also taken EQT On a road trip.

The company recently entered into a deal For Tug Hill Shale Product. After the news, RBC Capital Markets analyst Scott Hanold Repeat buy rating on EQT , with the target price raised by $2 to $57. “Recent comments by management during their second conference call in Q222 highlighted that the acquisitions should be more persuasive than their stock buybacks as well as add to asset quality, including reducing the company’s break-even point and we believe this transaction materializes,” Hanold said. of these squares. Explaining its rise. (We see EQT Blogger’s opinions and feelings on TipRanks)

According to the analyst’s calculations, the Tug Hill acquisition could take EQT’s Free cash flow to $6 billion in 2023, also increasing earnings per share by 10% to 15%. The extra cash flow could be used to get a higher authorization to buy back stock, but Hanold thinks the company will likely use it to reduce its debt.

“We believe EQT stocks should outperform peers over the next 12 months. EQT is well positioned with a large asset base focused in the Appalachian Basin,” said Hanold, who ranks 14th out of nearly 8,000 analysts following TipRanks. .

In all, 66% of Hanold’s ratings have generated returns of 30.9% on average.

Devon Energy

Another player in oil and natural gas exploration and production, Devon Energy (DVN), among the preferred choices of the best market analysts. The company’s convenient geographic location drives most of its business. The rich basins of Delaware, Eagle Ford, Anadarko, Powder River and Williston are the core areas of operations Devon Energy.

Earlier this month, the company entered into a liquefied natural gas (LNG) partnership With Delfin Midstream. The deal includes an agreement between the two parties to acquire long-term (million tons per year) liquefaction capacity on Delfin’s first floating LNG vessel, with the ability to add another 1Mtpa on the first project or on future vessels.

Following this announcement, Mizuho Securities analyst Vincent Lovaglio She sounded optimistic about the prospects for the deal, repeating the company’s buy rating with a target price of $91. The analyst believes that “downstream investment in liquefaction could connect under-priced Permian natural gas to premium global markets, using today’s excess free cash flow to transform a molecule previously thought to be a potential liability into an asset.” (We see Devon Energy’s Dividend Date and Date on TipRanks)

Moreover, it can enhance the deal Devon Annual dividend payout is around 30%. Lovaglio is ranked number one among nearly 8000 analysts on TipRanks. Notably, 91% of its ratings have been successful, with each rating giving an average return of 46.2%.

from Broadcom

Semiconductor Components Manufacturer from Broadcom (AVGO) has recently been integrating high-margin software into its product portfolio with the help of organic efforts as well as strategic acquisitions. So, Broadcom’s $61 billion purchase of virtual software company VMware It caught the attention of many analysts.

Mizuho Analyst Vijay Rakesh He was one of those optimists about the takeover. “With VMware, we believe AVGO can follow a similar strategy to Symantec-CA in which it held key underlying assets and divested some of the high-volume low-volume markets,” he said, noting the company’s focus on higher margin growth. (We see Broadcom Stock Investors on TipRanks)

The analyst believes that the acquisition will greatly lead from Broadcom’s Earnings per share. The analyst believes the company’s stock could hit $793 and reiterated the stock’s buy rating.

from Broadcom’s Strong market position in many areas, operating leverage and focus on acquisitions that boost its profit margins makes Rakesh believe in its value unlocking potential.

Ranked #128 out of nearly 8000 analysts on TipRanks, Rakesh is a hit with 57% of its ratings. Moreover, each rating has generated returns of 20.2% on average.

nvidia

Among the top picks of Vijay Rakesh this season is a giant semiconductor nvidia (NVDA). The company has recently been in the spotlight for directing $400 million damaged revenue in the third quarter Because of US restrictions on sales of high-performance AI chips in China.

After speaking with senior officials of nvidiaRakesh appeared bullish today nvidia Once again, buy the stock with a $225 target price. Rakesh was upbeat about the company’s high-end Hopper engineering, which is on track despite the ban. This is because most of the development team is based in the United States (see Nvidia stock chart, price history and charts on TipRanks)

“We believe Hopper’s ramp will not be affected by the export ban with the updated 8-K allowing supply chain freedom across Hong Kong and China,” said Rakesh, who believes this loophole will be a big breather for the company.

Moreover, more than 90% of all AI workloads in the data center world are supported by nvidia. AI is likely to provide a major opportunity for secular growth that is resistant to the company’s macro risks.

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