1 Surefire Stock That's a Smart Buy for 2023
As the year comes to a close, investors are rightfully reassessing their portfolio strategies to be properly positioned for long-term gains. A completely different macroeconomic backdrop, characterized by higher inflation and interest rates, makes it extremely attractive to own safer, competitively advantaged businesses that generate real profits and cash flows.
With this in mind, investors might want to look at Nike (NYSE: NKE) as a surefire stock to buy. Here's why.
In its latest fiscal quarter (second quarter of 2023, ended Nov. 30), Nike reported revenue of $13.3 billion, up 17% year over year, and net income of $1.3 billion, essentially flat compared to Q2 2022. Both of these numbers topped Wall Street expectations, and the stock popped more than 10% following the news.
Source Fool.com
