Why Pfizer Stock Is a Surefire Winner in 2023
Pharmaceutical giant Pfizer (NYSE: PFE) is no stranger to investors; the company is a longtime staple in the healthcare industry. It got a lift in late 2020 and in 2021 as one of the COVID-19 vaccine suppliers, but investors seem to have grown bored with Pfizer's story, and the stock is down about 16% since the start of 2022.
The thing is, investors shouldn't be so quick to write off Pfizer stock. Vaccine revenue will continue trickling in next year, and the company's balance sheet is loaded with cash. Let's look at some of the reasons why Pfizer could be a big winner in 2023 and beyond.
Pfizer made billions during the pandemic on the vaccine it developed with BioNTech; you can see below how dominant the company's product was, and only Moderna's vaccine came close in volume of doses. Demand for the vaccine is falling as the population becomes vaccinated and naturally occurring immunity (the body's natural defense after getting sick) becomes more prevalent. The updated booster covering recent virus strains has sold far fewer doses.
Source Fool.com
