'Stocks In Monopolistic Bull Market': Wall Street Analyst Contemplates A Bright Future For Next Phase
Portfolio Pulse from Piero Cingari
Bank of America's Chief Investment Strategist, Michael Hartnett, suggests that the current bull market is a reflection of a bull market in monopolies and oligopolies. He highlights the 'Magnificent 7' tech giants (AAPL, MSFT, GOOG, GOOGL, AMZN, META, NVDA, TSLA) as the dominant force in stock market returns for 2023. Other companies like LLY, BX, COST, WMT are also contributing significantly. The SPY ETF has shown a YTD gain of 13%, and the QQQ ETF a 35% increase, while the RSP ETF has struggled to maintain positive territory. Hartnett predicts the next bull market will begin with lots of cheap stocks, with VTRS and UAL currently among the most attractively priced companies within the S&P 500 index.
September 22, 2023 | 2:46 pm
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NEGATIVE IMPACT
The Invesco S&P 500 Equal Weight ETF has struggled to maintain positive territory, posting only marginal gains.
The RSP ETF has struggled to maintain positive territory, which could deter investors looking for steady returns, potentially driving down the ETF price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Apple is part of the 'Magnificent 7' tech giants dominating stock market returns for 2023.
As part of the 'Magnificent 7', Apple's stock is likely to continue performing well in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Amazon is part of the 'Magnificent 7' tech giants dominating stock market returns for 2023.
As part of the 'Magnificent 7', Amazon's stock is likely to continue performing well in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Alphabet is part of the 'Magnificent 7' tech giants dominating stock market returns for 2023.
As part of the 'Magnificent 7', Alphabet's stock is likely to continue performing well in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Meta Platforms is part of the 'Magnificent 7' tech giants dominating stock market returns for 2023.
As part of the 'Magnificent 7', Meta Platforms' stock is likely to continue performing well in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Microsoft is part of the 'Magnificent 7' tech giants dominating stock market returns for 2023.
As part of the 'Magnificent 7', Microsoft's stock is likely to continue performing well in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
NVIDIA is part of the 'Magnificent 7' tech giants dominating stock market returns for 2023.
As part of the 'Magnificent 7', NVIDIA's stock is likely to continue performing well in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ Trust has shown a staggering YTD gain of 35%.
The QQQ ETF has shown a significant YTD gain, which could attract investors looking for high returns, potentially driving up the ETF price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust has shown a YTD gain of 13%.
The SPY ETF has shown a solid YTD gain, which could attract investors looking for steady returns, potentially driving up the ETF price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Tesla is part of the 'Magnificent 7' tech giants dominating stock market returns for 2023.
As part of the 'Magnificent 7', Tesla's stock is likely to continue performing well in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
United Airlines is currently among the most attractively priced companies within the S&P 500 index.
With a low P/E ratio, United Airlines is considered cheap and could attract investors looking for value, potentially driving up the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Viatris is currently among the most attractively priced companies within the S&P 500 index.
With a low P/E ratio, Viatris is considered cheap and could attract investors looking for value, potentially driving up the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70