Goldman Sachs Out With 10 Top Tech and Internet Stocks for 2023 – 24/7 Wall St. | Jobs Recent


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More than once, technology and the internet world have crashed and burned, and often for very different reasons. The dot-com boom in 2000 and 2001 was the result of hundreds of companies trading at absurd multiples (if they had multiples) based on how many eyeballs they were grabbing, and the graveyards of Wall Street. it is always full of many of them.

On March 10, 2000, the Nasdaq reached an all-time high of 5,048. After one month, it had lost 34% of its value. By October 2002, it had lost 78% of its value. It would not reach its previous high again until 2015. Companies like Pets.com, Webvan, GeoCities, TheGlobe.com, Ask Jeeves, Alta Vista, Dr. Koop.com and many others crashed and burned, and took investors. with them.

Technology coverage in 2022 is very different, as some of the biggest losers this year were some of the biggest winners of the last 10 years. Many continue to print large profits. A new Goldman Sachs report highlights the top 11 stocks that match the company’s 10 technology trends for 2023. All are limited to Buy and are top ideas for next year. It is important to remember that no single analyst report should be used as the sole basis for any buying or selling decision.

Alphabets

Google’s parent and search giant is still a compelling proposition, especially at current business levels. Alphabet Inc. (NASDAQ: GOOG) offers a variety of products and platforms in North America, Europe, the Middle East, Latin America and elsewhere.

Its Google Services division offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play Store, as well as Fitbit wearable devices, Google Nest home products, Pixel phones and other devices, and in the provision of ad-free YouTube. services.

The Google Cloud component provides infrastructure, platform and other services; Google Workspace which includes the company’s cloud-based collaboration tools, such as Gmail, Docs, Drive, Calendar and Meet; and other services for business customers. Another Betting segment sells health technology and online services.

Goldman Sachs’ price target for Alphabet stock is $135, compared to the consensus target of $132.15. Thursday’s close of $91.20 was down more than 4% on the day.

ALSO READ: Goldman Sachs Likes 5 REITs for 2023 That Pay Big, Reliable Dividends

Amazon

The company is probably the best value for investors, after taking a hit this year. Amazon.com Inc. (NASDAQ: AMZN) engages in the sale of consumer products and subscriptions worldwide. Sells merchandise and content purchased for resale to third-party vendors through physical and online stores.

The company also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Rings and Echo and other devices. It provides Kindle Direct Publishing, an online service that allows independent authors and publishers to make their books available on the Kindle Store, and develops and produces media content.

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