Rosenblatt strategists presented a list of stocks that they believe will outperform the market in the second part of 2023.
Overall, they believe that tech stocks have more room for upside than post-COVID reopening names.
“We expect tech to continue to lead the market higher and we also believe that the AI enthusiasm is not over-hyped. NVDA’s recent sequential guide was telling. We think this rally has plenty of runway as investor risk appetites continue to climb the wall of worry,” the strategists said in a note.
“If we are at the end of a tightening cycle, we must be at the beginning of an easing cycle. The 10-year yield has held steady and investors have turned their attention to fundamentals, are expanding their time horizons, and have plenty of cash to put to work,” they added.
Some of the names on the list include chipmakers like Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), Marvell (NASDAQ:MRVL), and Micron (NASDAQ:MU); as well as a cybersecurity services provider Zscaler (NASDAQ:ZS) and a software business Alteryx (NYSE:AYX).