To get things started, undervalued stocks are those that are trading for less than their intrinsic value, and have the potential to offer significant returns as the market corrects itself. There are a few key indicators that can help investors identify undervalued stocks, such as a low price-to-earnings ratio and a high dividend yield.
It’s important to note that these types of investments can be riskier than others, as there is no guarantee that the market will correct itself. However, for those willing to do their due diligence and carefully research potential investments, undervalued stocks can be a valuable addition to a well-diversified portfolio. Considering this, here are three undervalued stocks to watch in the stock market today.
Undervalued Stocks To Watch In January 2023
- Alphabet Inc. (NASDAQ: GOOGL)
- Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM)
- Tesla Inc. (NASDAQ: TSLA)
1. Alphabet (GOOGL Stock)
Starting off, Alphabet Inc. (GOOGL) is a multinational conglomerate that serves as the holding company for Google and several other companies. The company operates in a variety of industries, including technology, life sciences, and investment.
GOOGL Recent Stock News
In October, Alphabet released its Q3 2022 financial results. The company earned $1.06 per share and generated $69.1 billion in revenue. These numbers fell slightly short of the Wall Street consensus estimates of $1.25 in earnings per share and $71.0 billion in revenue for the same quarter. Overall, the company’s performance during Q3 2022 did not meet the expectations of financial analysts.
Additionally, Ruth Porat, CFO of Alphabet and Google, comments, “Our third quarter revenues were $69.1 billion, up 6% versus last year or up 11% on a constant currency basis. Financial results for the third quarter reflect healthy fundamental growth in Search and momentum in Cloud, while affected by foreign exchange. We’re working to realign resources to fuel our highest growth priorities.”
GOOGL Stock Chart
As of January 9th, 2022 GOOGL has a PE ratio of 17.62. What’s more, over the last year, shares of GOOGL stock have dropped by 36.53%. Meanwhile, as of Monday’s closing bell, GOOGL stock closed the day up modestly by 0.78% at $88.02 a share.
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2. Taiwan Semiconductor Manufacturing Co. (TSM Stock)
Let’s now look at Taiwan Semiconductor Manufacturing Co (TSM). To start, Taiwan Semiconductor Manufacturing Company is a Taiwanese multinational corporation that specializes in the production of semiconductors. It is the world’s largest dedicated independent semiconductor foundry and one of the top global semiconductor companies.
TSM Recent Stock News
TSMC recently announced the launch of the Open Innovation Platform (OIP) 3DFabric Alliance at the OIP Ecosystem Forum. This is the company’s sixth OIP Alliance and the first of its kind in the semiconductor industry. It brings together partners to accelerate innovation in the 3D IC ecosystem and provides a range of solutions and services for semiconductor design, memory modules, substrate technology, testing, manufacturing, and packaging.
The alliance aims to help customers quickly implement silicon and system-level innovations using TSMC’s 3DFabric technologies, which are a range of 3D silicon stacking and advanced packaging technologies. These technologies will enable the development of next-generation HPC and mobile applications.
TSM Stock Chart
As of today, January 9th, 2023, TSMC has a PE ratio of 13.64. Moreover, TSM stock has fallen by 35.76% in the last year of trading action. With that, shares of TSM stock closed Monday’s trading session at $80.31 a share.
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3. Tesla (TSLA Stock)
Last but not least, Tesla, Inc. (TSLA) is an American company that specializes in electric vehicles, energy storage, and solar panel manufacturing. The company has grown to become a leader in the electric vehicle market. Tesla is also known for its advanced automation and technology and has developed a strong brand and loyal customer base.
TSLA Recent Stock News
Earlier this month, Tesla reported its vehicle production and delivery numbers for the fourth quarter of 2022, as well as the date for its financial results for the same period. In Q4 2022, Tesla produced over 439,000 vehicles and delivered over 405,000 vehicles. In 2022, the company delivered 1.31 million vehicles, a 40% increase year-over-year (YoY), and produced 1.37 million vehicles, a 47% increase YoY.
Also, Tesla said it will announce its financial results for Q4 and the full year of 2022 on Wednesday, January 25, 2023, after the market close. A webcast with company management will be held at 4:30 PM Central Time that day to discuss the results and provide an outlook for the future. The results will be made available on Tesla’s Investor Relations website.
TSLA Stock Chart
Separate from that, as of January 9th, 2023, TSLA has a PE ratio of 37.00. Additionally, in the last year of trading, shares of Tesla stock have dropped by 66.04%. On Monday, Tesla closed the day up 5.93% currently trading at $119.77 a share.
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