The sector has taken a beating in 2022 as rising interest rates have compressed valuations, and fears of a recession are weighing on growth rates. Gitlab (NASDAQ: GTLB), which went public a little more than a year ago, offers companies a single platform for DevOps -- the tools businesses need to build and deploy software quickly. While Gitlab is unprofitable, its margins are improving, and its gross margins are among the best in the software industry, with an adjusted gross margin of 89% in its most recently reported quarter, which ended July 31.
You can count on them to pay dividends quarter after quarter as well as deliver solid growth over the long term. Here's why they picked AbbVie (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), and Johnson & Johnson (NYSE: JNJ).
NAND memory chips, used in solid-state drives and smartphones for permanent data storage, make up about one-quarter of Micron's (NASDAQ: MU) revenue. Micron held a 12.3% share in the calendar third quarter, according to TrendForce, putting the company in fourth place. When the company reported its fiscal fourth-quarter results, it disclosed that NAND sales volumes were down by a low-20s percentage from the previous quarter, and that NAND average selling prices were down a mid-to-high single percentage.
Whether you're an experienced investor with decades of stock-picking expertise or a brand-new participant in the market, 2022 has been a tough year. The S&P 500 index is down by 16% year-to-date. That's one of the sharpest market drops in decades, exceeded only by truly historic events: the Black Monday crash of 1987, the popping of the dot-com bubble in 2001 and 2002, and the 2008 subprime mortgage meltdown.
If the market takes an upward swing, one thing that's likely to happen in 2023 is that Amazon (NASDAQ: AMZN) will become a trillion-dollar company again. It has been there before, with its market cap reaching a high of nearly $1.9 trillion a year ago, back in the heyday of 2021. Its stock is now down 48% since that time, with a market cap of $950 billion.
Nothing about the macro environment changes just by flipping the calendar; inflation is still a concern, and the Federal Reserve will likely continue raising rates. Three stocks I think are great buys in 2023 and beyond are Airbnb (NASDAQ: ABNB), Accenture (NYSE: ACN), and CrowdStrike Holdings (NASDAQ: CRWD). Airbnb, the market leader in alternative lodging and guided experiences, hasn't had a great 2022, with the stock down 42% year to date.
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