ProPicks February 2024 stock updates: What to buy, what to sell
Despite the succession of all-time highs for US indexes, January was marked by the slowdown in the multi-month uptrend that drove mighty gains for the stock market since October. As a result, the S&P 500 gained 1.6%, while the Dow Jones Industrial Average fared a bit worse, closing the period with a steady 1.2% rise.
In the face of meager total market gains, savvy investors were able to notch above-average performance as stock-picking proved once again the go-to strategy for those looking to score above-average returns amid heightened stock volatility brought by earnings season and the Fed's decision.
That's where our state-of-the-art AI stock-picking tool, ProPicks, came in handy. By selecting only companies with favorable growth potential and positive fundamentals, ProPicks once again provided its users with top market-beating picks.
Here's the updated 10-year performance of the strategies after January:
Beat the S&P 500: 742.5% Dominate the Dow: 448.2% Tech Titans: 1,149% Top Value Stocks: 615.8% Mid-Cap Movers: 367.4%
Below, we present this month’s AI-curated stock recommendations for buying or selling, according to the strategies:
Beat the S&P 500
Here’s our AI-picked selection of the 20 top-performing stocks within the S&P 500 poised to outperform the market.
Stocks to buy:
Alphabet (NASDAQ:GOOGL) Inc. FedEx Corporation (NYSE:FDX) Meta Platforms (NASDAQ:META), Inc. Applied Materials (NASDAQ:AMAT), Inc. Humana (NYSE:HUM). Cencora (NYSE:COR) Microchip Technology Incorporated (NASDAQ:MCHP) Baker Hughes Company (NASDAQ:BKR)
Stocks to sell:
ON Semiconductor (NASDAQ:ON) Corporation Monolithic Power (NASDAQ:MPWR) Systems, Inc. U.S. Bancorp (NYSE:USB) Charter Communications (NASDAQ:CHTR), Inc. Goldman Sachs Group Inc (NYSE:GS) Lennar Corporation (NYSE:LEN) Synopsys (NASDAQ:SNPS) Airbnb (NASDAQ:ABNB)
See the full list of stocks in Beat the S&P 500 here
Dominate the Dow
Stocks to buy:
UnitedHealth Group (NYSE:UNH) Boeing (NYSE:BA) International Business Machines (NYSE:IBM)
Stocks to sell:
Goldman Sachs Group JPMorgan Chase (NYSE:JPM) Caterpillar (NYSE:CAT)
See the full list of stocks in Dominate the Dow here
Tech Titans
Stocks to buy:
Cirrus Logic (NASDAQ:CRUS) Amkor (NASDAQ:AMKR) Applied Materials (NASDAQ:AMAT) Nutanix (NASDAQ:NTNX), Inc. Cohu (NASDAQ:COHU), Inc. Zebra Technologies Corporation (NASDAQ:ZBRA)
Stocks to sell:
Xerox Holdings (NASDAQ:XRX) Axcelis Technologies (NASDAQ:ACLS) InterDigital (NASDAQ:IDCC) Insight Enterprises (NASDAQ:NSIT) Perficient (NASDAQ:PRFT)
See the full list of stocks in Dominate the Dow here
Top Value Stocks
Stocks to buy:
Cencora, Inc. Humana Inc . American Express Company (NYSE:AXP) Microchip Technology Inc (NASDAQ:MCHP) F5 Networks Inc (NASDAQ:FFIV)
Stocks to sell:
Lennar Corporation Builders FirstSource Inc (NYSE:BLDR) NVR (NYSE:NVR) Gen Digital Inc (NASDAQ:GEN) Bristol-Myers Squibb Company (NYSE:BMY) Cisco Systems (NASDAQ:CSCO) PACCAR Inc (NASDAQ:PCAR)
See the full list of stocks in Top Value Stocks here
Mid-Cap Movers
Stocks to buy:
MarketAxess Holdings Inc (NASDAQ:MKTX) RH (NYSE:RH) Cirrus Logic Inc (NASDAQ:CRUS) BankUnited (NYSE:BKU) Allegro Microsystems Inc (NASDAQ:ALGM) Kilroy Realty (NYSE:KRC) Helen of Troy Ltd (NASDAQ:HELE) Caesars (NASDAQ:CZR) Entertainment, Inc. Weatherford International (NASDAQ:WFRD) plc Amkor Technology Inc (NASDAQ:AMKR) Sanmina Corporation (NASDAQ:SANM) Axcelis Technologies Inc (NASDAQ:ACLS)
Stocks to sell:
Euronet Worldwide (NASDAQ:EEFT), Inc. ODP Corp (NASDAQ:ODP) First Interstate BancSystem Inc (NASDAQ:FIBK) Academy Sports Outdoors Inc (NASDAQ:ASO) WaFd Inc (NASDAQ:WAFD) Hub Group (NASDAQ:HUBG) Sterling Construction Company (NASDAQ:STRL) AMN Healthcare Services (NYSE:AMN) Grocery Outlet Holding (NASDAQ:GO) Abercrombie & Fitch Company (NYSE:ANF) M/I Homes (NYSE:MHO) Zions Bancorporation (NASDAQ:ZION)
See the full list of stocks in Mid-Cap Movers here
*The outperformance data is calculated from January 1st, 2013, until the specified date.
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