After a tumultuous year in the stock market in 2022, many companies began 2023 with lower-than-desirable valuations. However, as the new year unfolds, investors seem to be feeling optimistic about certain stocks and are beginning to bid them up.
Here are four stocks that have been on the rise in the early months of 2023, from least to most growth.
Apple (NASDAQ: AAPL):
Apple’s (AAPL:NSD) shares are down 15% year over year but have gained 10% since the start of January. The company has seen the least growth of the companies on this list, but it also had the least decline over the course of the last 12 months.
The tech giant’s strong business has weathered economic challenges better than most and the prospect of promising developments in 2023 has prompted investors to bid the stock up.
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL):
Alphabet’s (GOOGL:NSD) shares have risen 11% since January 1st. The Google parent company suffered in 2022 from declining ad spending as rising inflation and fears of an economic downturn led many businesses to reduce their marketing budgets.
However, Alphabet’s stock is currently trading at a price-to-earnings ratio of 18, one of its lowest valuations by that metric in a decade, making it an attractive investment opportunity.
Netflix (NASDAQ: NFLX):
Netflix’s stock (NFLX:NSD) has risen 16% since January 1st, but it still has a long way to go, as its shares are down 14% year over year.
The streaming giant has had a challenging 12 months, with decreasing market share in an industry it almost single-handedly created, primarily due to increasing competition.
However, it’s too early to know if its recent changes such as its ad-supported tier and venture into video games will be effective or profitable.
Amazon (NASDAQ: AMZN):
After a challenging year for Amazon’s (AMZN:NSD) e-commerce business, the company’s stock has started 2023 on a positive note, rising 16% since January 1st.
Investors are becoming more optimistic about Amazon’s future based on signs that U.S. inflation is easing and an expansion of the company’s advertising business. While Amazon’s stock growth in 2023 is positive, it’s important to note that it still had a challenging year in 2022.