Asia tech stocks slide tracking Wall St losses amid AI doubts, govt. uncertainty
By Senad Karaahmetovic
Bernstein presented the list of 12 stocks it believes could outperform the market in the next 6 months.
Spread over 7 sectors, Bernstein highlights 12 high-quality, not-crowded stocks.
“Since 2004, U.S. stocks rated Outperform by our fundamental analysts have produced premiums of +1.8% on an annual basis relative to the S&P 500 index. Over the same time frame, the best quintile of our current Bernstein Alpha Model produced +3.8% relative annual returns. However, we found that stocks that were attractive on both counts outperformed by +6.1% a year,” the analysts explained.
Stocks included in the list are Meta Platforms Inc. (NASDAQ:META), Qualcomm Inc (NASDAQ:QCOM), American Express (NYSE:AXP), Micron Technology Inc (NASDAQ:MU), Intercontinental Exchange (NYSE:ICE), Pioneer Natural Resources Co (NYSE:PXD), L3Harris Technologies Inc (NYSE:LHX), Centene Corp (NYSE:CNC), The Kroger Co (NYSE:KR), Devon Energy Corp (NYSE:DVN), Global Payments Inc (NYSE:GPN), and Hewlett Packard Enterprise Co (NYSE:HPE).
On Meta, Bernstein analysts wrote:
“We believe Meta is well positioned to mark and bounce off the bottom in ad revenue growth over the next 6 months…If Meta can show investors that they can still grow, more upward estimate revisions and re-rating may be on the horizon.”