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The Nasdaq has been the star of the show lately, but other sectors are starting to catch a bid. I've highlighted five stocks in industrials and consumer staples that are poised for a rally in 2023. Enjoy some green on the screen and to the moon.
Caterpillar $CAT
Caterpillar is a major supplier of equipment for infrastructure projects, such as roads, bridges, and airports. Governments around the world are increasing infrastructure spending, which is a major tailwind for CAT. The company is also developing new products, such as the electric excavator, which could boost sales in the years to come.
Deere & Company $DE
Deere is another industrial giant that is likely to benefit from increased infrastructure spending. The company is the leading supplier of agricultural equipment, and it also has a strong presence in the construction market. Deere is also investing in innovation, such as autonomous tractors.
3M $MMM
3M is a diversified conglomerate with a wide range of products, including office supplies, safety gear, and healthcare products. The company is in the process of spinning off its healthcare business, which will allow it to focus on its core businesses. 3M also has a history of buying back its own shares, which reduces the number of shares outstanding and increases earnings per share.
Philip Morris International $PM
Philip Morris International is a tobacco company that has recently increased its focus on smoke-free alternatives. Smoke-free alternatives are less harmful than traditional cigarettes and are less likely to be regulated by governments. By focusing on smoke-free alternatives, Philip Morris is staying ahead of the curve and positioning itself for future growth.
Raytheon Technologies $RTX
Raytheon Technologies is a defense contractor that provides weapons and defense systems to the US government and to foreign governments. The US government is increasing its defense spending, which is a major tailwind for RTX. The company also has a strong balance sheet and a dividend yield of 2.7%.
These are just a few of the stocks that I believe are poised for a rally in 2023. Lastly, it's important to do your own research before investing in any stock.