After Underperforming the Market Last Year, Is It Time to Buy McDonald's Stock?
It was difficult to pick a losing stock last year. The S 500 rose 24% and the tech-heavy Nasdaq Composite soared 43%. But there was a caveat to these gains. Though many stocks moved higher by the end of 2023, some stocks' gains were easily eclipsed by monstrous returns seen in tech. Indeed, much of the market's rally last year was driven by explosive growth in top tech companies like Nvidia, Microsoft, , Apple, and Tesla.
One stock epitomizing the types of companies that underperformed last year (many were established dividend stocks in boring industries) was McDonald's (NYSE: MCD). The fast-food chain's shares rose 12.5%, with a gain of 15% when including dividends. This significantly lagged the S 500's 24% gain.
After underperforming so dramatically, is it time to scoop up shares of this dividend stock? After all, market interest sometimes shifts toward out-of-favor sectors. Perhaps 2024 is the year that strong dividend stocks will shine.
Source Fool.com
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