Here's My Top Stock for 2023 and Beyond
An undeniable hallmark of 2022 has been the bear market and the resulting volatility on Wall Street. Macroeconomic conditions, including near 40-year-high inflation and the unrelenting rise in interest rates, have exacerbated these issues with no end in sight. These factors have punished the Nasdaq Composite, which has declined 28% so far this year.
It's important to flip the script on these challenges, remembering that a falling market takes down good stocks with the bad, presenting a rare opportunity to buy top companies at incredible discounts. Nvidia (NASDAQ: NVDA) could well be the poster child for this phenomenon, going from market darling to pariah in just months and shedding as much as 63% of its value. Yet, the company's high-end graphics processing units (GPUs) are practically indispensable for serious gamers and are a staple the world's largest cloud computing and data center operations.
A review of the evidence suggests this temporary fall from grace provides investors with a compelling opportunity to buy Nvidia stock before an eventual rebound that, by all accounts, will be stunning.
Source Fool.com