1 Nasdaq Stock to Avoid Like the Plague in 2023, and 1 to Buy Hand Over Fist
With 2022 about to come to an end, it is safe to say that this has been a year investors would like to forget. It has been a terrible one for the stock market, as evidenced by the steep 30% decline in the Nasdaq Composite index so far this year.
The good news for investors is that there's potential for a bull market next year as slowing inflation could lead the Federal Reserve to ease the pace of interest rate hikes. That makes now a good time to consider a beaten-down Nasdaq stock with the potential to take off in 2023. At the same time, investors should steer clear of certain Nasdaq names that may continue to struggle even in a bull market.
Micron Technology (NASDAQ: MU) and Microsoft (NASDAQ: MSFT) have borne the brunt of the Nasdaq's drop this year. Micron is down 41% in 2022 and shares of Microsoft have dropped 27%. One of these two Nasdaq stocks is likely to take off in the new year and the other one could continue to struggle.
Source Fool.com
