Best Stocks To Buy In 2023 | Stocks To Invest In 2023
In this video, I'll be talking about the 10 best growth stocks you can buy in 2023!
Let’s jump right into our list of the best stocks to buy in 2023 and start with the company on our tenth spot…
Best Stock To Buy in 2023: 10. Lovesac (LOVE, $31.86)
You may or may not have heard of Lovesac, but they’re disrupting the furniture industry by designing, manufacturing, and selling furniture in house both in stores, but mostly online through online digital sales.
They currently have 146 retail showrooms, and their current price is currently sitting at $31.86.
This is down 50% from their all time highs, which makes this stock highly appealing.
As this stock took a hit along with the recent tech selloff, there are a few positive catalysts on why you should get into this stock sooner than later. Taking a look at their PE ratio, it’s an amazing 11.60 and their market cap is currently $449 million.
Plus, Lovesac saw sales increase by 56% to $129.4 million with double-digit sales from both its showrooms and e-commerce section.
Many people think a recession is looming, but with the Fed indicating that inflation should start going down soon and supply chain bottlenecks should start easing up, this is definitely a sleeper pick to buy for 2023!
Best Stock To Buy in 2023: 9. Monolithic Power Systems, Inc. (MPWR, $441.80)
When you see an opportunity, you take it, and that’s the situation with Monolithic Power Systems, Inc.
They specialize in providing power circuits found in cloud computing, telecom infrastructures, automotive, industrial and consumer applications.
Currently, the stock price of the company sits at around $440 which is 30% below its all-time high of $580 from November 2021.
This decline presents an opportunity for potential buyers to buy the dip. Monolithic Power has a median EPS growth of 12% over the same period.
This tells us that this $22 billion company is growing its earnings at more than twice the average rate for the rest of the stock market and its earnings growth is expected to continuously increase over time.
As a bonus, MPWR offers a dividend yield of 0.7% to its shareholders. Analysts from Yahoo finance, CNN, and TipRanks all give this stock a ‘strong buy’ now indicator with an average upside of 20% within the next 12 months.
Best Stock To Buy in 2023: 8. Ubiquiti Inc. (UI, $274.65)
Next on our list is Ubiquiti.
This communication device company operates wireless and network equipment for internet service providers.
Analysts believe that this company whose $415 billion market cap will continue to project impressive growth in both earning per share growth and annual earning growth for years to come.
Despite the tech selloff, it’s held up remarkably well, just being down by 8% year to date.
To add a cherry on top, Ubiquity has been increasing its dividend payout every year since 2014. The current dividend yield is 0.9%.
Best Stock To Buy in 2023: 7. Microsoft Corp. (MSFT, 2$64.34)
Easily the most recognizable name on the list, Microsoft Corp. needs no introduction and is number 7 on our list.
From gaming, Microsoft Office suite, LinkedIn, to their fast growing cloud computing division, Microsoft has been a mainstay as one of the largest and most successful companies in the world, as they have a $2 trillion market cap.
While Microsoft’s prices are currently down 21% from their all time high, analysts expect that the company’s annual EPS will grow by 16% over the next five years.
This makes it the perfect time to build a position in this “blue chip” yet high growth tech stock. MSFT’s annual EPS increased by an average of 24% over the last three years, driven by an average revenue increase of 15.2% per year, so there’s little to question if Microsoft can bounce back…it’s just a matter of when.
Including the projects related to building out the metaverse, Microsoft is at the forefront of technology and growth.
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I’m Chris Winter and on this channel I make finance videos on:
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