The S&P 500 was up over 13% in the first half of 2023. A double-digit increase in the first half of the year has only been accomplished four other times since 2000. The next six-month returns in all four instances were robust, as shown below.
The graph above and a discussion of the four other times the market rose double digits in the first half can be found in our daily Commentary for June 30th.
This scan looks for the first-half winners. Presuming the market posts a solid second half, these stocks may continue outperforming the market and their respective sectors. The graph below shows the performance by sector in the first half of 2023. This scan looks for stocks in the three leading sectors: technology, communications, and consumer discretionary.
Screening Criteria
- Sectors = Technology, Communications and Consumer Discretionary
- Within 5% of 52 week high
- Six-month return > respective sector returns
- Beta >1.25
- S&P 500 Constituent
Company Summaries
NVDIA Corporation (NVDA)
META Inc. (META)
Carnival Corporation (CCL)
Palo Alto Networks, Inc. (PANW)
Royal Caribbean Cruises (RCL)
Disclosure
This report is not a recommendation to buy or sell the named securities. We intend to elicit ideas about stocks meeting specific criteria and investment themes. Please read our disclosures carefully and do your own research before investing.
Michael Lebowitz, CFA is an Investment Analyst and Portfolio Manager for RIA Advisors. specializing in macroeconomic research, valuations, asset allocation, and risk management. RIA Contributing Editor and Research Director. CFA is an Investment Analyst and Portfolio Manager; Co-founder of 720 Global Research.
Follow Michael on Twitter or go to 720global.com for more research and analysis.
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