The holiday season is here… So it’s time to say goodbye to 2022 and get in position to crush 2023!
We’ve seen so much pain this year that sifting through the rubble of beaten-down companies for a quality opportunity can be overwhelming.
Pauses in the markets offer a valuable chance to reflect on some of the bigger macro conditions playing out as 2023 approaches.
So let’s dive in and narrow the field of candidates with my three top stocks to watch for December 2022 as we head into the new year!
New Money Crew’s Three Top Stocks to Watch for December 2022
First up, we’re looking at semiconductors…. All it takes is a quick look at the VanEck Semiconductor ETF (Nasdaq: SMH) to see just how brutal 2022 was for chip names…
By mid-October, the fund had dropped around 45% from where it began the year as a mix of supply and labor disruptions, and growing tensions between China and Taiwan weighed on the industry.
With the sector still near the lows, inflation numbers are cooling, we’ve had solid earnings performances and improving relations between China and the U.S.… and these are all bullish conditions for a run higher in semis.
One stock at the top of my watchlist is Marvell Technology Inc. (Nasdaq: MRVL) The company is a major player in the data center server and 5G game, which have been resilient through the downturn.
On Nov. 17, my scanners spotted a big buy of more than 950 contracts for the Dec. 9 expiration, $43 strike calls for more than $330,000 in premium!
I have two more big names on my top 3 stocks to watch for 2023… So before you get away from your screens, check out my video and I’ll give you all the tickers, and a quick breakdown of each along with two critical macro trends I’m keeping tabs on as we enter the new year!
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.