Benzinga Twitter Followers Picked This Stock To Outperform In 2023 — And So Far They're Right
Portfolio Pulse from Chris Katje
Benzinga's Twitter followers correctly predicted that Tesla (TSLA) would outperform other large-cap tech stocks in 2023. The prediction came after a poor 2023 for the S&P 500 and major tech companies, with the SPDR S&P 500 Global ETF (SPY) down 19.2%, Apple (AAPL) down 27%, Alphabet (GOOG, GOOGL) down 34%, Amazon (AMZN) down 51%, and Tesla down 69%. As of June 30, 2023, Tesla has seen a 142.2% return, outperforming Apple, Amazon, and Alphabet.
July 03, 2023 | 7:30 pm
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POSITIVE IMPACT
Apple has seen a return of 55.1% as of June 30, 2023, after a 27% loss in 2022.
Apple's rebound in 2023 is likely due to continued confidence in the company's growth story and its ability to maintain its $3 trillion valuation.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Amazon has seen a return of 51.8% as of June 30, 2023, after a 51% loss in 2022.
Amazon's rebound in 2023 is likely due to a recovery in the overall market and a reassessment of the company's valuation by investors.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Alphabet has seen a return of 36.3% as of June 30, 2023, after a 34% loss in 2022.
Alphabet's rebound in 2023 is likely due to a recovery in the overall market and a reassessment of the company's valuation by investors.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
The SPDR S&P 500 Global ETF was down 19.2% in 2022, but the market has shown signs of recovery in 2023.
The recovery of the SPDR S&P 500 Global ETF in 2023 is likely due to positive returns in the overall market.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Tesla has outperformed other major tech stocks in 2023, with a return of 142.2% as of June 30.
Tesla's strong performance in 2023, despite a poor 2022, is likely due to increased attention to electric vehicles and production. The company is also set to deliver its first Cybertrucks later this year.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100