3 Red-Hot Stocks That Could Continue to Beat the Market
Generally speaking, investors want to own a piece of companies with real growth prospects and proven staying power. If they do, stocks' prices will eventually take care of themselves. Conversely, chasing a hot stock simply because it's hot is rarely a great idea. When unsupported rallies take a turn for the worse, the turns can become mighty painful.
There are cases, however, where a red-hot stock rally really is an indication of the company's underlying strength. At the very least, these stocks are worth a closer look. Here's a rundown of three such recently hot prospects you might want to consider for your portfolio.
It would be easy to assume the worst of chipmaker Nvidia (NASDAQ: NVDA) right now. Not only are the warning bells of a semiconductor supply crisis still ringing, but macroeconomic weakness tends to take an exaggerated toll on the technology sector. Revenue for its fiscal 2023 third quarter (ended Oct. 30) dropped 17%, and the top line for its recently ended Q4 is projected to fall over 21%. Sales for the quarter currently underway are expected to slide even more.
Source Fool.com
