Tesla Inc on Monday fell short of Wall Street estimates for fourth-quarter electric vehicle deliveries, slammed by lingering logistics problems and slowing demand amid rising interest rates and recession fears.
In mid-August, shares of Apple (NASDAQ: AAPL) were near an all-time high and down only slightly on the year. Today, Apple is hovering around a 52-week low and is down around 30% from its all-time high.
Yet despite the sell-off, Apple is still outperforming other big tech names y
Tesla (
TSLA)
investors will no doubt be happy 2023 is upon us. The EV leader endured an awful 2022 with the shares shedding a hefty 65% throughout the year.
While the culprits for pushing valuations down significantly in 2022 are well-known, Tesla’s issues are more company specific. Namely, CEO Elon Musk’s never-ending Twitter saga and its impact on Tesla sentiment.
Sentiment, though, is not set in stone, and can change fast on Wall Street. For that to happen, however, Wedbush’s
Daniel Ives thinks Musk must come good on what he calls the “investor wish list.”
So, what does that involve? Well, first off, with Musk declaring – after polling his Twitter followers on the matter – that he will leave his CEO post at Twitter, it is imperative a new one is installed pronto. By the end of January, more accurately, so that Musk can refocus all his energies back on Tesla. Staying off Twitter will also be a welcome development, as the more political he gets on the platform, the harder it gets selling EVs “to the masses.”
Next up, after selling roughly $40 billion of TSLA stock over the past year, Musk must put an end to the selling spree and “adopt a 10b5-1 plan so investors know there is no major selling block around the corner.”
On to the shaky macro backdrop, for which “conservative” 2023 targets will also help. “The 50% growth target is not happening in our opinion,” says the 5-star analyst, “with 35%+ delivery growth a more hittable and realistic goal for 2023.”
Some changes at the Board level will also be welcome, especially new additions with deep knowledge of tech and the EV landscapes.
One simple act will also help sentiment. “Buybacks, Buybacks, Buybacks,” says Ives. “Announcing a major stock buyback program is important/key for the Street's confidence and with the stock at these levels a no brainer strategic move in our opinion for Tesla given its massive treasure chest.”
All told, then, Ives stays bullish on TSLA, but foresees things getting “even uglier,” should none of these changes be forthcoming. For now, however, the Outperform (i.e., Buy) rating stays as is, and so does the $175 price target, which makes room for one-year gains of 42%. (To watch Ives’ track record,
click here
)
Over the past 3 months, 31 analysts have reviewed TSLA’s prospects, with the ratings breaking down to 19 Buys, 10 Holds and 1 Sell, all culminating in a Moderate Buy consensus rating. The average target stands at $267.07, suggesting upside of 117% for the year ahead.
(
See Tesla stock forecast on TipRanks)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’
Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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In this video, I will be talking about the three growth stocks I added to my portfolio in December. Tesla (NASDAQ: TSLA) is down 69% year to date and has been underperforming lately because of the Twitter deal and Elon Musk's selling of Tesla stock. The other two are both down 50
Rivian (NASDAQ: RIVN) has had an eventful first year as a public company, to say the least. It delivered vehicles to customers for the first time and grew production rapidly, but also ran into delays in ramping up production that have left investors unhappy. In the video below, T
Mega-cap stocks (with a market cap of over $200 billion) like Tesla, Amazon, and Meta Platforms once delivered multi-fold gains. However, as the tide turned in 2022 (interest rates continued to rise amid high inflation), these
mega caps lost their sheen and eroded shareholders’ wealth. We bring to you a list of 10 such mega-cap stocks that bit the dust in 2022. Also, we’ll use
TipRanks’ data to ascertain what 2023 holds for these companies.
The graph below shows the drop in 10 mega-cap stocks in 2022.
Is Tesla stock a Buy, Sell, or Hold?
With a decline of over 65%, Tesla's
(
NASDAQ:TSLA
) stock is the biggest loser in this list. It currently has a market cap of $388.97 billion and commands a Moderate Buy consensus rating on TipRanks. TSLA stock has
a positive signal from hedge funds. Moreover,
retail investors holding portfolios on TipRanks and bloggers are also optimistic about the stock. However, TSLA stock has a Neutral Smart Score of seven out of 10 on TipRanks.
What Is the Prediction for Meta Platforms?
Meta (
NASDAQ:META
) isn’t far behind Tesla stock in terms of decline. Shares of this social media giant fell 64.2% in 2022. It currently has a market cap of $319.89 billion and carries a Moderate Buy consensus rating on TipRanks. However, hedge funds
sold 3.9M META stock last quarter. Meanwhile,
insiders sold META stock worth $2.6M. META stock has an Underperform Smart Score of two.
Is Nvidia a Buy or Hold?
Shares of chip giant Nvidia (
NASDAQ:NVDA
) dropped 50.3% in 2022. However, Wall Street is bullish about its prospects. It has a Strong Buy consensus rating on TipRanks. Also, it has received the
maximum number of Buy recommendations from
top analysts in the last three months. Our data shows that hedge funds and retail investors are optimistic about NVDA stock. Further, NVDA stock has a
“Perfect 10” Smart Score on TipRanks. (
Stay abreast of the
best that TipRanks’ Smart Score
has to offer.)
Is Amazon Stock Expected to Rise?
Top Wall Street analysts are cheering for Amazon's (
NASDAQ:AMZN
) stock, implying they expect the stock to rise in the future. It has lost 49.6% of its value in 2022 but has a Strong Buy consensus rating on TipRanks. Meanwhile, hedge funds have
bought 26.3M AMZN stock in the last three months, which shows their confidence. Furthermore, the crowd wisdom is also positive on AMZN stock. It sports a
“Perfect 10” Smart Score on TipRanks, implying it is poised to outperform the benchmark index.
Is GOOGL a Good Stock to Buy?
GOOGL stock dropped over 39% in 2022. However, GOOGL stock has received unanimous Buy recommendations from analysts and carries a Strong Buy consensus rating on TipRanks. News and blogger sentiment are also positive for GOOGL stock. Meanwhile,
hedge funds bought 129.4M GOOGL stock last quarter. Overall, shares of Alphabet have a “
Perfect 10” Smart Score on TipRanks.
Is MSFT a Long-Term Buy?
Microsoft's (
NASDAQ:MSFT
) stock declined by 28% in 2022. However, Wall Street sees this decline as an opportunity for long-term investors to invest. Microsoft stock has a Strong Buy consensus rating on TipRanks. Meanwhile,
hedge funds bought 33.2M MSFT stock last quarter. However, insiders sold MSFT stock worth $6.1M in three months. MSFT stock has a "
Perfect 10” Smart Score.
Is Apple a Buy or Sell?
With a market cap of over $2 trillion, Apple (
NASDAQ:AAPL
) is the largest American corporation. AAPL stock dropped 26.4% in 2022. However, Street is bullish about its prospects as it carries a Strong Buy consensus rating on TipRanks. Our data shows
insiders sold AAPL stock worth $30.4M in the last three months. However,
hedge funds bought 671.9K Apple stock. It has a Neutral Smart Score of six on TipRanks.
Will TMO Stock Go Up?
Shares of healthcare-focused company Thermo Fisher Scientific (
NYSE:TMO
) are down about 17.3% in 2022. However, analysts maintain a Strong Buy consensus rating on TMO stock and expect its stock to go up. However, hedge funds decreased their holdings in TMO stock and
sold 197.6K shares in three months. Meanwhile, it has a Neutral Smart Score of five on TipRanks.
What’s the Prediction for AVGO Stock?
Shares of the leading semiconductor company, Broadcom (
NASDAQ:AVGO
) registered a decline of 13.3% in 2022. However, analysts have a Strong Buy consensus rating on AVGO stock. Meanwhile,
hedge funds increased their AVGO stock hol
d
ings by purchasing 102.3K shares last quarter. Blogger sentiment also remains positive on AVGO stock. AVGO stock has a "
Perfect 10” Smart Score.
Is JPM a Buy Today?
Shares of the financial services giant JPMorgan Chase & Co. (
NYSE:JPM
) fell 12.6% in 2022. Meanwhile, it carries a Moderate Buy consensus rating on TipRanks. Hedge funds
sold 778.4K JPM stock last quarter. Meanwhile, given the economic uncertainty, JPM stock has a
Neutral Smart Score of six on TipRanks.
Bottom Line
These mega-cap stocks have lost significant value, creating a buying opportunity for investors. Using TipRanks’
Stock Comparison tool, below is a summary of how these companies stack up on our datasets.
According to our data, MSFT, GOOGL, AMZN, NVDA, and AVGO have a Strong Buy consensus rating on TipRanks. Also, these stocks have a “Perfect 10” Smart Score, implying these stocks are expected to outperform the broader markets.
Meanwhile, Tesla has a Neutral Smart Score, and analysts are cautiously optimistic about its prospects despite the considerable decline in its price. Besides for TSLA, analysts are also cautiously optimistic about META and JPM stock. However, META has an Underperform Smart Score.
Disclosure
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