Stocks broke a three-week losing streak on Friday, but uncertainty looms over the horizon as the Federal Reserve prepares for its September meeting. The prospect of a sizable interest rate hike is just around the corner, and such a move by the central bank can shake up markets.
It’s key for investors to keep a long-term view in mind. They must search for stocks that can survive a downturn and bounce back with healthy returns.
Here are five stocks picked by Wall Street’s top professionals, according to TipRanks, a platform that ranks analysts based on their track record.
Ambarella Semiconductor chipmaker Ambarella (AMBA) specializes in the design and manufacture of fabless chipmaking for various human and computer vision applications. The company’s low-power CVflow processors support intelligent cameras for security and automotive applications.
The company has been navigating elevated expenses and worldwide supply chain constraints impressively, making Needham analyst Quinn Bolton bullish on the stock’s prospects. (See Ambarella Stock Analysis & Ratings on TipRanks) The analyst was upbeat about the commencement of Ambarella’s CV5 processor production, which was achieved earlier than expected.
That means that significant revenues are expected ahead of time, in the first half of fiscal 2024 (February-July of calendar year 2023).