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Top 10 Stock Picks for 2023, the story so far +12.5%

3 months performance: S&P 500 +6.2%, Dow Flat, NASDAQ 100 +18%

Top 10 Stock Picks +12.4%

top 10 stocks

concentrated but diversified

At the end of 2022, CNBC ran a segment, Top 10 Stock Picks by Wall Street Analysts for 2023. The portfolio is designed to be concentrated in the number of stocks but diversified by sector. A stock picker’s portfolio. The sectors initially represented by CNBC were: tech, oil, media, and industrial. The 10 stocks originally selected were as follows. Alphabet, Amazon, Tesla, Exxon Mobile, Nvidia, Comcast, Raytheon, Netflix, Qualcomm, and Boeing.

top 10 stock picks

The key adjustments I made to the original selection were as follows. Verizon over Comcast, purely on valuation. Tesla was exchanged for a bank, Wells Fargo. I was not comfortable with the position of the company’s management. Boeing for Caterpillar, due to concerns over air travel. I removed Caterpillar in late January. As always, you win some, lose some. The key is to maintain your portfolio objectives. For this, my aim was to have a balanced approach to portfolio allocation. Then I will follow my convictions.

Key Sectors: Banks and Tech


Top 10 Stock Picks: Key Bets

Key moves in the first three months were to add banks and tech stocks. The banks were at the center of the turmoil in the stock market in the first quarter. The failure of Silicon Valley Bank in early March created suspense and drama and served as the first act. This was quickly followed by the failure of Signature Bank and then Credit Suisse.

top 10 stocks


The Federal Reserve and the FDIC worked together to stabilise the banking sector, easing investor concerns. Widespread concerns about potential bank instability have proven to be unwarranted. The current weighting of banks in the Top 10 Stock Picks portfolio is 27%. The following bank stocks are in the Top 10 Stock Picks portfolio, BAC, GS, WFC. For more information on the bank crisis, click HERE.


Following a difficult 2022, the tech sector performed well in the first quarter of 2023. The NASDAQ 100 is up over 21%. The outperformance is due to several factors. One key one has been the reduction in employees. Tech companies could also gain from increased demand for technology products and services.

The reorientation to operate and communicate remotely post-pandemic has driven the sector. This has meant that companies and individuals have become more reliant on technology. This trend has driven several sub-sectors, including software, cloud computing, and e-commerce. Mega-tech companies, like Apple, Amazon, and Facebook have performed well. As has Nvidia, up over 80% and Tesla +75%. For more information on the tech rally, click HERE.


Tesla was one of the original Top 10 Stock Picks. I did not like the Tesla situation about management and shareholdings. But others did and Tesla is up around +75% YTD. The choice was not to invest in Tesla because of the situation surrounding Twitter. At the time, it was not clear about Elon Musk’s share holdings in both companies. I avoid these situations.
top 10 stocks
This is something that I want to emphasise to readers. For me, Tesla is not a mistake. Having no tech stocks would have been. At 27% tech, this is around market weight. One could now consider being overweight in tech.




I stated this is a recent article, when making money in stocks, one must remember this phrase. Stocks lead earnings, and earnings lead the economy. There were 5 factors mentioned in the article. While these factors are present and influential, they are unlikely to lead to a stock market crash. The factors are earnings, banks, oil prices, inflation and interest rates.
On the flip side, there are currently two factors supporting the rally in stocks. The first is that over 50% of stocks in the S&P 500 are above their 200-day moving average. The second is that stocks are proving to be resistant to negative headlines. For example, news about the bank crisis.

Graphs and data by Finscreener


Google Inc. (GOOGL)

Alphabet Inc. ‘s performance in 2023 is likely to be influenced by several factors. Key will be advertising sales, and growth in its cloud computing division. Google is projected to generate consistent but not outstanding growth in 2023.
top 10 stocks
Currently, the stock is trading on a PE ratio of 17.40X. A price-to-book (PB) ratio of 4.46X. A price-to-sale (PS) ratio of 2.54X. Google’s ROA is 20.53%, and a ROE of 29.07%. Thus, valuations are not excessive. The issue is that recently, Google has issued 4 negative earnings surprises.

Amazon (AMZN)

Amazon’s performance in 2023 will be via e-commerce, and cloud computing expansion. Investments in new sectors such as healthcare could be positive as well. Amazon is a powerhouse, but it is facing increased rivalry in the e-commerce business. It is unclear how Amazon will fare over the rest of 2023.

Year-on-year performance, Amazon is down 36.32%, YTD up 21.5%. AMZN stock has a five-year performance of 45.26%. Its 52-week range is between $81.43 and $168.11, which gives AMZN stock a 52-week price range ratio of 23.80%.

The current PE ratio is 78.80X, if EPS in 2024 is above $1.70, the forward PE is around 60X. Currently, the price-to-book (PB) ratio of 6.39X, a price-to-sale (PS) ratio of 2.44X. The stock is not cheap on current multiples. Sales growth must improve to justify these multiples going forward. ROA is 3.01%, and a ROE of 9.45%.

Apple Inc.(AAPL)

Apple Inc.‘s performance in the rest of 2023 will depend on several factors. First, demand for new product releases the first “mixed-reality headset”. Then the iPhone hardware subscription program should be watched. Apple continues to generate cash. Dividends and buybacks of shares can keep going, thus increasing shareholder value. The estimated EPS for FY 2024 is $6.50, placing the stock on a forward PE multiple of 23X.
top 10 stocks
If Apple’s PE multiple expands to 30X, this could see the stock price move towards the $200 mark. Apple is currently trading on a price-to-book (PB) ratio of 40.69X, and a price-to-sale (PS) ratio of 7.66X. Price-to-cashflow ratio of 17.30X, a ROA of 30.70%, and a ROE of 191.71%. The company’s profit margin is 24.33%. Its EBITDA margin is 33.80%.
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Bank of America (BAC)

The banking crisis had an effect on BAC’s performance in the first quarter of 2023. Two important factors could have an impact on BAC’s performance for the rest of 2023. Loan demand and consumer credit demand. For the remainder of 2023, it is expected that Bank of America will offer consistent growth.
According to Finscreener, BAC’s current PE ratio is 10.90X, a price-to-book (PB) ratio of 1.15X. The ROA is 0.91%, and the ROE is 11.47%. The valuations are not excessive. As confidence returns to the banks, BAC’s share price should benefit.

Exxon Mobil Corporation (XOM)

XOM’s performance in Q1 2023 was influenced by oil prices. Exxon is projected to offer consistent growth in 2023, if oil prices remain high.
XOM is currently trading on a PE ratio of 9.0X. A price-to-book (PB) ratio of 2.45X, a price-to-sale (PS) ratio of 1.46X. The current ROA is 15.83%, with a ROE of 32.20%. The company’s profit margin is 14.57%. Its EBITDA margin is 24.80%. The stock’s valuation is not excessive, and XOM’s margins are solid.

The Goldman Sachs Group Inc. (GS)

When announced, the results of Q4 2022 had a negative effect on GS’s share price in Q1 2023. They were particularly bad by GS standards. The stock was added to the Top 10 Stock Picks following the results. For the rest of 2023, the share price will be influenced by two factors. Interest rates and investment banking revenues.
GS is currently trading on a PE ratio of 6.70X and a price-to-book (PB) ratio of 1.09X. The current ROA is 0.96%, and the ROE is 14.08%. The current valuations are not excessive. However, GS is facing increased rivalry in investment banking. It is unclear how Goldman Sachs will fare for the remainder of 2023. It is, however, at the lower end of valuations.
Finscreener is a powerful financial analysis tool that allows investors and traders to screen and analyze stocks, ETFs, mutual funds, and cryptocurrencies based on various fundamental and technical criteria quickly and easily. The platform provides users with a wide range of filters, charts, and tools to help them find and analyze the right investment opportunities.
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NVIDIA Corporation (NVDA)

Several factors will influence NVIDIA Corporation’s performance in 2023. Key will be growth in its gaming, graphics cards, and data center businesses. Expansion of its artificial intelligence capabilities will also be key. Nvidia is facing increasing competition in the technology market.
The stock has been the best performer in the Top 10 Stock Picks portfolio. Currently, Nvidia is trading on a PE ratio of 63.20X. A price-to-book (PB) ratio of 17.12X, a price-to-sale (PS) ratio of 13.46X. The ROA is 15.83%, and the ROE is 28.57%. At this point, Nvidia is a momentum play.


QCOM’s performance in the first quarter of 2023 did beat the SPY ETF. In 2023, the results are likely to depend on the demand for its mobile processors. Also, the growth in its licensing business. Yet, QCOM is facing increased rivalry in the mobile technology market.
QUALCOMM’s PE ratio is 10.10X, with a price-to-book (PB) ratio of 7.18X and a price-to-sale (PS) ratio of 3.84X. The ROA is 30.82%, and the ROE is 97.84%. The company’s profit margin is 28.61%. Its EBITDA margin is 40.30%. The valuations are not excessive, and this is the bet for the rest of 2023.

Raytheon Technologies Corporation (RTX)

Raytheon Technologies Corporation is a multinational conglomerate. RTX operates in the aerospace and defence industry. The company manufactures advanced defence technologies such as missile defence systems. As well as aerospace systems, and cybersecurity solutions. There are likely to be several factors that will affect the company’s performance in 2023. The key factor is defence spending. This is significant for RTX’s performance. RTX is affected by the defence budgets of the United States and other countries.
top 10 stocks
RTX is currently trading on a PE ratio of 34.20X, a price-to-book (PB) ratio of 2.15X. A price-to-sale (PS) ratio of 2.99X. The ROA is 2.81%, and the ROE is 6.31%. The company’s profit margin is 7.84%. Its EBITDA margin is 16.30%. The valuation parameters are high.

Verizon Communications Inc (VZ)

VZ is a multinational telecommunications conglomerate that operates in over 150 countries. VZ’s core wireless and wireline businesses will be the main drivers of revenue growth in 2023. In 2022, Verizon’s wireless business experienced strong growth in its customer base. This resulted in increased revenue from wireless services. Due to its investments in fiber optic networks, VZ’s wireline business also grew.

top 10 stocks

VZ is currently trading at a PE ratio of 9.20X. The price-to-book (PB) ratio is 2.03X, and the price-to-sale (PS) ratio is 1.71X. The ROA is 5.30%, and the ROE is 23.45%. The company’s profit margin is 14.82%. Its EBITDA margin is 33.80%. The valuation parameters are attractive.


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Warren William

Warren William

Meet the author behind Smartest-Data. Warren William has a career in Finance and Investments extending over 35 years, both on the Buy Side and Sell Side. His most recent roles include, developing Institutional Risk Management Programs for managing Equity and Fixed Income Risk.  Prior to this Warren William work in Alternative Investments, in Investment Management and as a Buy Side Equity Analyst. Warren William brings a wealth of knowledge and expertise to the table, providing in-depth analysis and commentary on the latest trends in the Stock Markets. Contact information: or Telegram +393339034488

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