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3 Undervalued Stocks To Watch Right Now

Are the best undervalued stocks to buy in 2023?

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

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.

Source: TD Ameritrade TOS

[Read More] Stocks To Invest In Right Now? 3 Biotech Stocks To Watch

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.

Source: TD Ameritrade TOS

[Read More] Best Semiconductor Stocks To Invest In Right Now? 3 To Know

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.

Source: TD Ameritrade TOS

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By Josh Dylan

Josh Dylan is an active contributor to StockMarket.com. His forte is in geosocial events and emerging trends in the stock market today. As an active contributor to other financial outlets like MarijuanaStocks.com, his ability to study current events and determine the potential market reaction is what sets him apart from other writers.

After studying at UC Santa Cruz and earning a bachelor's of art and art history, Josh also went on to start his own business in art resale. Identifying underserved niches like this has allowed him to think outside the box when it comes to applying this approach to the stock market.

His new-age take on social media and branding gave Josh the foresight to apply certain lifestyle trends to market moving topics. This has included the recent trend in the cannabis industry and marijuana stocks as well as following emerging technology such as artificial learning and web-bots. Fundamentals are just as important as momentum in Josh’s opinion. Being able to understand how to apply popular trends to investing is of major importance. If the price of oil is sinking but the price of gold is following along, we want to understand why, not just follow the broader trend.

Josh Dylan makes it a point to not only mention what hot “today” but also find ways to apply that to find future opportunity in the stock market. What’s more is that Josh has become an active part in the StockMarket.com social media team. He works to delivery top research not only one StockMarket.com but also bring it to the readers, directly.

By studying the macro-economic events in the market, Josh makes sure to find events that could shift micro-economic trends. He prides himself on taking a unique approach to information but not taking things for “face value”. When it comes to the stock market, things can change at a moment’s notice and Josh makes sure to stay ahead of that with sound research and diligence. When Josh isn’t writing about the stock market, he enjoys spending time with his family and surfing. He currently calls Southern California his home.

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