Analyst David Sekera: Time to Sell 3 of the S&P's Best-Performing Stocks of 2023. Is He Right?
The performance of the stock market so far in 2023 caused a collective sigh of relief on Wall Street. After turning in the worst performance in more than a decade last year, the major market indexes are all showing growth of more than 20% from their recent lows, causing some market commentators to say a new bull market is underway.
Helping fuel the gains in 2023 are rapid advances in artificial intelligence (AI), led by the debut of ChatGPT late last year. The breakthrough technology, dubbed generative AI, offers a host of potential applications that could lead to rapid productivity gains. The potential being discussed is driving many technology stocks higher.
But not everyone is so bullish. A report issued by analyst David Sekera concludes the resulting exuberance might have driven some stocks too far, too fast. As a result, he says it's time to sell three of this year's biggest gainers.
Source Fool.com
Morningstar Inc. Aktie
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