Good riddance, 2022. Tuesday officially marked the start of a new year on Wall Street, and while there is no guarantee 2023 will be a great one for stocks, for now it’s nice to turn the page on the worst year since 2008 . After recently highlighting Club holdings that analysts tapped as their top picks for 2023, we wanted to take the Street’s temperature on our stocks in a different way. So, we screened our portfolio to find the holdings that are rated buy or overweight by at least 75% of relevant analysts, and also have a 15% upside to those analysts’ average price target based on where the stock closed on the final trading day of 2022. These are the 10 stocks that match our specific criteria, according to data from FactSet, in order from the highest-to-lowest percentage of buy or overweight ratings: Amazon (AMZN) Alphabet (GOOGL) Microsoft (MSFT) Halliburton (HAL) Walt Disney (DIS) Humana (HUM) Wells Fargo (WFC) Salesforce (CRM) Constellation Brands (STZ) Advanced Micro Devices (AMD) Amazon Percentage of analysts with a buy/overweight rating: 92% Upside to average price target: 60.9% Analysts expect Amazon to bounce back in a big way after shares tumbled nearly 50% last year. We’ve continued to stay invested in the ecommerce and cloud-computing giant, but have been clear about what we need to see from management in the coming months — namely, more robust discipline on costs. That’s key for Amazon shares to make a meaningful move higher in the face of growing recession fears. Alphabet Percentage of analysts with a buy/overweight rating: 92% Upside to average price target: 40.1% Like with Amazon, the Street continues to stand with Google parent Alphabet, despite a 39.1% decline in its share price in 2022. Similar to Amazon, we want to see Alphabet rationalize its hiring and spending because its main source of revenue — advertising — remains pressured by mounting economic headwinds. Microsoft Percentage of analysts with a buy/overweight rating: 92% Upside to average price target: 22.2% Microsoft — the third mega-cap tech stock to make the list — is also well-liked by analysts following a year in which shares tumbled nearly 29%. Microsoft is one of the best-run companies out there, which allows us to see through any near-term macroeconomic challenges and focus on its long-term growth prospects, particularly in enterprise cloud computing. We may be looking to book some profits if the stock climbs toward the $300 level, after ending 2022 around $240 per share. Halliburton Percentage of analysts with a buy/overweight rating: 86% Upside to average price target: 16.8% Halliburton was a big winner last year, climbing 72% in 2022, and the vast majority of analysts who cover the company believe it can go even higher, even if gains are more muted this year. While day-to-day oil price fluctuations may at times test our conviction in our energy investments — West Texas Intermediate crude closed down more than 3.7% Tuesday — Halliburton’s multiyear growth story remains intact. We also believe it boasts pricing power, a key attribute for this current economic environment . Walt Disney Percentage of analysts with a buy/overweight rating: 82% Upside to average price target: 37.7% Analysts expect some magic to return to Disney following a miserable 44% slide in 2022. We hope so, too, now that Bob Iger is back as CEO . Iger should help steady the ship, especially on Disney’s money-losing streaming side. Humana Percentage of analysts with a buy/overweight rating: 80% Upside to average price target: 19.5% Humana is the only Club holding besides Halliburton to post share gains in 2022 and land on Tuesday’s top-10 screen. Many of the same factors that fueled Humana’s outperformance last year, with the stock rising 10.4%, are still relevant and explain why we added to our position in the health insurer earlier Tuesday . Those reasons include a lack of economic sensitivity and limited exposure to the strong U.S. dollar . Wells Fargo Percentage of analysts with a buy/overweight rating: 79% Upside to average price target: 30.9% Despite fears of a U.S. recession on the horizon, most analysts view Wells Fargo favorably. The bank’s shares outperformed the S & P 500 last year, falling only 13.9% compared with the index’s roughly 19% slide. Even as we await the full dissipation of the regulatory cloud that hovers over Wells Fargo , it’s one of the best-capitalized banks in the U.S. and poised to benefit from higher interest rates. Salesforce Percentage of analysts with a buy/overweight rating: 78% Upside to average price target: 47.2% Add Salesforce to the list of beaten-up tech stocks that most analysts expect to recover in 2023. Salesforce shares fell almost 48% last year, a steep decline we admittedly didn’t expect. We’ll be looking to see if the value-creation potential that activist investor Starboard sees in Salesforce starts to materialize in 2023, while Mark Benioff resumes his prior role as sole CEO . Constellation Brands Percentage of analysts with a buy/overweight rating: 78% Upside to average price target: 18.8% The maker of Corona and Modelo beer also held up much better than the S & P in 2022, declining only 7.7%. We still believe Constellation’s business should prove relatively durable in an economic slowdown, and added to our position right before the holidays. Advanced Micro Devices Percentage of analysts with a buy/overweight rating: 76% Upside to average price target: 35.7% Of the 10 stocks on this list, AMD saw the biggest decline in 2022. The chipmaker’s shares sank 55%. However, most analysts expect its fortunes to improve this year, after having been weighed down by soft demand in end markets like PCs. The chip industry does not seem to be out of the woods yet , but we’re continuing to back AMD over the long term. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Packages move along a conveyor belt at an Amazon Fulfillment center on Cyber Monday in Robbinsville, New Jersey, on Monday, Nov. 28, 2022.
Stephanie Keith | Bloomberg | Getty Images
Good riddance, 2022.
Tuesday officially marked the start of a new year on Wall Street, and while there is no guarantee 2023 will be a great one for stocks, for now it’s nice to turn the page on the worst year since 2008.
With the launch of the first-ever Class 8 vocational EV in the North American market, PACCAR Kenworth is raising the battery-electric bar and underscoring just how far the market has come since the Tesla Semi made its debut nearly a decade ago.
When Tesla pulled the wraps off its all electric Semi truck all the way back in November of 2017, the rest of the industry was hardly thinking about BEVs. Nearly a decade later, the world is still waiting for the Semi to begin regular production, and PACCAR is launching its second generation of HDEVs with the debut of this, the all-new Kenworth T880E vocational truck.
“The Kenworth T880E marks a groundbreaking milestone in Kenworth’s history as we bring to market the first Class 8 battery-electric solution built for vocational applications,” explains Kevin Haygood, Kenworth assistant general manager for sales and marketing. “The T880E is engineered to meet the evolving needs of operators and vocational fleets while still providing the durability, reliability and customization our customers expect.”
The new electric K-whopper is motivated by PACCAR’s in-house ePowertrain platform, capable of putting up to 605 hp and 1,850 lb-ft of peak torque to work, while delivering the same levels of drivability and dependability fleets expect from a Kenworth – but power and torque are only part of the T880E’s work-ready résumé.
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Open to work
Kenworth T880E; via PACCAR.
In addition to a stout, Class 8 electric chassis fitted with heavy-duty Kenworth brakes and axles, the T880E’s central drive eMotor allows for significant wheelbase flexibility so fleet buyers can spec out exactly the machine they need to get the job done. The T880E was also designed to enable lift axle installations from trusted Kenworth upfitters for a vocational-friendly BEV integration.
Additionally, the T880E features a wide selection of factory-installed options that include both high- and low-voltage ePTO (electric Power Take Off) ports, mechanical ePTOs, and the same wide array of body configurations as the ICE version.
Speaking of the ICE version, the electric T880E also can also be had in the same set-back front axle and set-forward front axle configurations with the same multi-piece hood construction. Inside the cab, the latest in driver-focused technology includes the Kenworth SmartWheel and a new 15″ DriverConnect digital touchscreen. Dash and vocational features like RAM Mounts and factory-installed PTO switches are available. The T880E is also offered with Kenworth ADAS packages for customers interested in DigitalVision Mirrors, Bendix Fusion, and Lane Keeping Assist.
It’s so big, you guys
Kenworth T880E; photo by the author.
The T880E was on static display at last week’s ACT Expo in Anaheim, California. Check with your local Kenworth dealer for availability.
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The tire-blistering SU7 Ultra has been the Xiaomi brand’s flagship super sedan since its launch, but a controversial software setting has limited the car to “just” 900 hp in regular driving – resulting in an outcry from owners who ponied up for the big boy numbers. With its latest software update, that missing 648 hp is back on tap!
The SU7 Ultra made waves throughout the performance car world when a bright yellow striped example lined up alongside a white quarter mile king, the 1,000+ hp Tesla Model S Plaid, and promptly smoked it.
That wasn’t all. A preproduction SU7 Ultra prototype lapped the legendary Nürburgring circuit in just 6 minutes and 46.874 seconds, firmly stamping the 1,500+ hp Xiaomi’s alphanumeric into the track’s record books with a time nearly fifteen seconds quicker than a Rimac Nevera or, on the ICE front, either a Corvette ZR1, Viper ACR, or Porsche 918 (take your pick).
It’s hardly any wonder, then, that the customers who signed up – in droves, too – were disappointed to learn that the SU7 they were allowed to buy had been neutered by the safety nannies to the tune of nearly 650 hp. (!)
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We’re so back
The outrage from SU7 Ultra owners was immediate. And, facing mounting pressure online and on social media, Xiaomi ultimately decided to withdraw the performance-limiting features while acknowledging the need for more transparent communication about future software updates they messed up, saying in a statement, “we appreciate the passionate feedback from our community and will ensure better transparency moving forward.”
So, rich people can rocket themselves down the road in 9 second hypercars again and all is right with the world. A happy ending – but one that sort of illuminates a fresh set challenges for automakers peddling “software-defined vehicles” to a market that still thinks of their cars as very much hardware defined products.
The new reality is playing out in real time now, and the Jeff Bezos-backed $20,000 electric compact pickup from Slate Auto is going the other way entirely – time will tell whether more, or less tech is the answer.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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Tesla (TSLA) has started offering reduced interest rates on the new Model Y in the US — this equates to a direct discount on the brand new vehicle that was supposed to spark Tesla’s demand back.
The automaker has announced “1.99% APR or $0 Due at Signing available for well-qualified buyers” on the new Model Y in the US for the first time:
This amounts to a direct discount worth a few thousand dollars. It is the first widely available discount on the new Model Y coming just weeks after the cheaper non-Launch Edition launched in the US.
These discounts and subsidized financing point to soft demand for the updated best-selling vehicle in the US. Tesla just delivered a disastrous first quarter, which it mostly blamed on the Model Y changeover, resulting in lower inventory.
However, industry watchers, including Electrek, noted many signs that the Model Y changeover was not the only issue. Tesla added significantly to its inventory in the first quarter, and the wait times for the new Model Y were extremely short.
Now, the discount weeks after launching the new Model Y confirm the soft demand in the US.
I think it’s clear by now: the new Model Y is not coming to save Tesla.
Let’s be honest: It will still be a significant vehicle program by volume. It just won’t help Tesla return to growth this year.
The RWD Model Y is still coming and has a chance to help in the US. It is already available in China, and it’s not helping Tesla much there, but that’s in a hyper-competitive market, especially at lower prices where the RWD Model Y operates.
Tesla’s performance in Q2 in China will be interesting since it is basically back to its regular lineup for the whole quarter.
The US appears to have been Tesla’s least affected market, but Q3 will be the real test with the full lineup and no backlog of demand for new Model Y.
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