Buy This Warren Buffett-Owned Stock for 2023 and Beyond
In 2022, there has been a massive paradigm shift. Due to rising interest rates and fears that the economy may eventually slow down, the tech-heavy Nasdaq Composite has plunged 34% year to date.
By contrast, value-oriented stocks have delivered significant gains in this down market. Shares of healthcare products distribution company McKesson (NYSE: MCK) have soared a blistering 54% so far in 2022. And as impressive as the stock's outperformance has been, there are reasons to believe that it can continue into next year and beyond.
It almost goes without saying, but medicines, vaccines, and medical supplies are of critical importance to the healthcare sector. And these life-saving products don't just magically move from the manufacturer to pharmacies, hospitals, and patients. With a market capitalization of $54 billion, McKesson is the leading player in the medical distribution oligopoly along with AmerisourceBergen and Cardinal Health.
Source Fool.com
